Day of celebration for Mediaset, on the Stock Exchange as well as in Parliament. At Piazza Affari the Alfa stock gained 7,7% at the end of the morning, reaching 1,787 euros. The numbers of the third quarter, closed with a profit of 29,4 million, a clear improvement compared to the red of 10,6 million recorded in the same period of the previous year.
In the first nine months of 2020, Mediaset has created a turnover group net income of 1,722 billion euros, down 15% year on year. On the profitability side, however, theEBIT it halved to 87,6 million. As for the to evaluate, stopped at 10,5 million, from 92,1 million in the same period of 2019 (-88%), also due to the impact of the goodwill linked to the takeover bid on Ei Towers. Operating costs for the 9 months fell by 11,2% to 1,635 billion.
Mediaset's Italian activities over the nine months they exceeded analysts' expectations: revenues stood at 1,176 billion (down compared to 1,371 billion in the same period of 2019, but still better than the consensus' 1,158 billion) and the operating result was negative by 45,8, 0,2 million (+89 million last year, -XNUMX million analysts' expectations).
Meanwhile, today the deputy Pd Valeria Valente presented the so-called "Mediaset amendment” to the decree extending the Covid emergency. The provision, after the go-ahead from the Constitutional Affairs commission, is being examined by the Senate in first reading.
The amendment gives Agcom the power to initiate investigations into possible mergers in the radio and television sector to verify the existence of distorting effects in the event of sensitive transactions. In essence, the law will save Mediaset from Vivendi's takeover attempt. In fact, the legal intervention solves the problems created for Alfa by the sentence of 3 September of the European Court of Justice, which rejected article 43 paragraph 11 Consolidated text of Italian radio and television, according to which the French group had to freeze its participation in Mediaset.
