MediaForEurope sounds upbeat note on advertising sales
Adds share performance in paragraph 4, details from analyst call in paras 8-9
By Elvira Pollina
MILAN, Sept 19 (Reuters) -MFE-MediaForEurope MFEB.MI, the commercial broadcaster controlled by Italy's Berlusconi family, said on Thursday its advertising sales are set to beat expectations in the first nine months of the year, after posting a 6.7% rise in the first half.
The company, which runs TV businesses in Italy and Spain, said its earnings before interest and taxes (EBIT) rose by 12.7% to 136 million euros ($151 million) in the first six months of 2024, above a 11% rise it had previously guided for.
Gross advertising sales rose to 1.43 billion euros from 1.34 billion euros in the same period a year earlier, the Milan-listed group said.
Milan-listed shares MFEB.MI rose as much as 5% after the results. They were up 3.4% by 0815 GMT, against a 0.8% rise in the Italian All-Share index .FTITLMS.
"The trend of advertising sales in the first nine months remains above expectations and in line with that of the first half, despite the group lacking the programming of major sporting events", the company said.
MFE did not broadcast the Euro 2024 soccer championship and the Paris Olympics this summer but it managed to compensate with a richer programming schedule over the summer.
MFE confirmed its outlook for "markedly positive" earnings and cash flow this year, adding the scope of the growth will mostly depend on the size of advertising sales in the final quarter, when broadcasters strive to capture corporate spending in the run-up to Christmas.
In a post-results analyst call, chief marketing officer Matteo Cardani said "signals from October advertising sales were quite good".
However, he cautioned performance in the final quarter may be affected by a tough comparison with last year and market visibility remained low.
($1 = 0.8985 euros)
Reporting by Elvira Pollina; Editing by Muralikumar Anantharaman and Keith Weir
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
