Mediaset and Rcs in great fashion in Piazza Affari after the publication of the 9-month accounts.
THE NINE MONTHS OF MEDIASET
The results as at 30 September close for Mediaset with a leap in profit that exceeds pre-Covid levels and revenues up sharply. One hour after the start of trading, the shares rose by 6,78% to 2,646 euros, reaching their highest level since the beginning of September.
From January to 30 September 2021, the Cologno Monzese group created a Net income equal to 273,8 million euros, a result that compares with the 10,5 million of 2020. Net of the sale of Towertel and the closure of the dispute with Dialymotion, the profit is in any case higher than the 92,1 million of 2019. In the third quarter alone, net profit rose to 47,1 million euro.
Also up sharply the revenues of the group, which grew by 11,6% to 1,99 billion (+8,8% revenues to 605,4 million in the quarter). Taking Italy only into consideration, the increase is 18% to 1,388 billion. Boom of advertising revenue, which in the first nine months of 2021 rose by 21,5% to 1,346 billion, better than the same period in 2019 (1,33 billion). “In October, advertising revenues in Italy recorded a still positive trend”, underlines the company, and also in the last few months of the year “should continue to reflect a market trend which, in the presence of the current economic recovery, for most sectors should be characterized by the typical high seasonality of demand”.
Well also the Operating income, which rose from 87,6 million in 2020 to 275 million on 30 September. In the same period of 2019, the figure was 188,6 million. The EBIT of the Italian activities is 135 million euros.
Continuing with the results, i operating costs of the group amount to 1,717 billion (from 1,635 billion in 2020), while in Italy they are up slightly to 1,253 billion (from 1,222 billion last year).
As of September 30th the consolidated net financial debt is equal to 919,5 million euros, down on the figure at the beginning of the year (1,06 billion), while the adjusted net financial debt is equal to 640,4 million euros. The free cash flow amounted to 423,6 million euros, a sharp increase compared to 236,0 million in the first nine months of 2020.
Mediaset "confirms for the current year the forecast of a marked strengthening of the economic results (EBIT and net result) and of the generation of cash characteristic of the group compared to those of the last two years".
Mediaset "confirms for the current year the forecast of a marked strengthening of the economic results (EBIT and net result) and of the generation of cash characteristic of the group compared to those of the last two years". As for advertising revenue, Matteo Cardani, general manager of Publitalia marketing, said the group expects it to be at least +2021% higher than in 1,2 for the full year 2019.
RCS IN PROFIT
Rcs is back in profit, which archives the first nine months of 2021 with a Net income equal to 46,6 million which compares with a loss of 7,6 million recorded in the same period of 2020. The consolidated revenues rose from 493,7 to 610 million, while theebitda jumps to 92,1 million (from 27,7 million). The growth in advertising revenues and the realization in the first nine months of 2021 of sporting events that in 2020 had been postponed to the fourth quarter of the year (or had not been able to play) contributed to the improvement in revenues. The change in revenues also includes the positive effect of the line-by-line consolidation of the m-dis group in the first nine months of 2021 (valued at equity in the same period of 2020), equal to 33,2 million.
I digital revenue amount to approximately 139,9 million and represent approximately 23% of total revenues, those Advertising they rise to 232,8 million (+47,9 million). There advertising revenue overall on online media stands at 103,1 million, with i publishing and circulation revenues equal to 280,3 million (against 256,3 million), which includes 21,7 million of revenues relating to the distribution of third-party publisher products (following the consolidation of m-dis).
Lnet financial debt as at 30 September 2021 it stood at 14,8 million, an improvement of 44,8 million compared to the end of 2020. As for the future, in the first nine months of 2021, the publishing company underlines, the group's EBITDA has already exceeded values for the entire year 2020. In consideration of these results, the group believes “that it is possible further improve marginsi of 2021 compared to those achieved in 2020 and a consequent further reduction in net financial debt".
At Piazza Affari the title travels up by 7,5% to 0,8 euro per share.
(Last update: 16.30 am on 10 November).
