Mediaset returns to profit in 2013 even if for the second consecutive year it will not distribute dividends. The television group closed the year with consolidated revenues of 3,414 billion (-8,2% on 2012) and an operating result, higher than expected, of 246,3 million compared to -253 million a year ago.
During the conference call on 2013 results, the CFO Marco Giordani also underlined that Mediaset is not looking for a partner for Mediaset Premium and is still evaluating the opportunity to create a single company that combines the Italian and Spanish pay-TV activities.
“We are not evaluating any sale of Mediaset Premium shares. For now we are evaluating the opportunity to integrate the pay activities in Italy and Spain ”, she added. On the project to combine Mediaset Premium and the stake held in the Spanish Digital Plus in a single company, "we are still evaluating the opportunities, nothing has been decided yet".
The 2013 data are encouraging: the net result returned to a positive position of 8,9 million after the loss of 287 million in the previous year, also thanks to strong cost savings. Advertising revenues in Italy recorded a decrease of 2013% in 11,4, but in the first three months of 2014 it was still slightly negative, showing instead an improvement in the month of April.
Given the uncertainty of the macroeconomic and advertising scenario in Italy and Spain as well as the difficulty in identifying clear signs of a recovery in demand and consumption, the group declares that "it is currently very difficult to produce reliable estimates" on the 2014 result.
Based on the 2013 accounts, the stock gains on the Stock Exchange and scores +1,65% with a price of 3,94.
