Negative accounts for Mediaset in the first nine months of 2019, and the share is affected, which is among the worst in Piazza Affari with a loss that in the mid-afternoon marks -2,4% to 2,7 euros per share. In the nine months, the consolidated net revenues of the Alfa Romeo amounted to 2.030,4 million euros compared to 2.433,5 million euros in the first nine months of 2018. In particular, revenues in Italy amounted to 1.371,9 million euros compared to 1.737,9 million euros in the same period of the previous year.
In Spain, on the other hand, revenues amounted to 660,7 million euros compared to 696,4 million in 2018. These values were affected by the sharp decline in the advertising markets both in Italy and in Spain. Gross advertising revenues of Mediaset España amounted to 644,0 million euros (compared to 687,1 million in 2018).
In Italy, where according to the latest Nielsen data, the overall advertising market in the first nine months of the year decreased by -5,3% compared to 2018, the gross advertising revenues of Mediaset they went from 1.458,7 million euros in the first nine months of 2018 to 1.332,4 million in 2019. This performance discounted, as expected, the loss of premium football revenues still present in the first part of 2018 and the discontinuity of the FIFA World Cup Football broadcast exclusively on Mediaset in June/July 2018.
On a like-for-like basis, however, advertising revenues in the first nine months of 2019 recorded a change of -1,3%. much lower than the market decline. Overall group operating costs decreased to 1.841,8 million euros compared to 2.319,0 million euros in 2018 (-20,6%).
On the other hand, the group's operating result (Ebit) was positive for 188,6 million euros compared to 114,5 million last year (+64,7%). In Italy the Ebit, despite being the third quarter physiologically the weakest of the year, is positive by 0,2 million euros, reversing the trend compared to the negative figure (-66,8 million) in the same period of 2018. In Spain the figure is positive by 190,2 million euros compared to 181,7 million euros for the first nine months of 2018. The group net result closed at 101,5 million euros compared to 27,0 million euros in the same period of 2018, a result almost four times higher.
The weak quarterly comes at a strategically very important moment: after the purchase on May 29 of a 9,6% stake in the German broadcaster ProSiebenSat.1 Media and the strengthening of the subsidiary Mediaset España (moreover just today hit by a 77,1 million euro fine from the Iberian Antitrust), now the game for the creation of Media For Europe, the holding company of television activities, is taking center stage. In this regard, the financial director Marco Giordani said that an agreement with the French of Vincent Bolloré "is possible".
