MediaForEurope (formerly Mediaset) closes 2022 with a profit down to 216,9 million euros from 374,1 million in 2021, but does better than the 190,3 million of the pre-Covid period (+30,1% considering the profit adjusted net). Consolidated net revenues amounted instead to 2,801 billion compared to 2,914 billion in the previous year. The company led by Pier Silvio Berlusconi considers the results for the 2022 financial year "above the company estimates at the beginning of the year", formulated before the strong signs of uncertainty caused by the international crises. The dividend is confirmed at 5 cents per share and will be proposed to the June shareholders' meeting, which will also discuss the grouping of shares of category A and B.
A Business Square, after yesterday's purchases title B drops by 0,48%, while Mfe A it is up by 0,66% to 0,458 euro per share.
“We acted quickly to reshape all of the group's publishing and commercial activities, also resulting in a significant reduction in costs,” he declared. Pier Silvio Berlusconi —. The result was very positive: even in 2022, which saw the accounts of the entire media sector drop, with even drastic reorganizations of employment levels, Mfe is particularly satisfied with the managerial actions which, without any effect on the workforce, have led to achieving a important profit".
The 2022 accounts
In detail, the group archives a 2022 closed with a Useful net contraction and revenues down by 3,9% to 2,081 billion. Margins are also declining: theebitda fell by about 10% to 803,6 million, while theebit by 33% to 280,1 million. Operating costs stable (-1%) at 1,99 billion. There generation di cash was positive for 366,2 million (against 507,3 million in 2021) while net debt amounted to 873,3 million, up from 869,2 million in 2021.
The goal for 2023 is to achieve on an annual basis (even in an advertising context substantially stationary compared to 2022) a positive consolidated operating result, net result and cash generation. Furthermore, during the second quarter, the completion of the cross-border merger by incorporation project is expected Mediaset Spain in Mfe approved by the respective shareholders' meetings on 15 March 2023.
Listening improves but advertising revenues decrease
Mediaset's editorial work on programming, the group underlined, has led to a growth in audiences of all the main genres: above all for entertainment, fiction and information. While advertising revenues fell by 1,8% to 1,946 billion euros. This was indicated in the presentation of the accounts to the analysts by Matteo Cardani, general manager of Marketing & Ad Operations of Publitalia. The operating result of the Italian activities, according to the note, was positive for 88,5 million.
The dividend proposal and reverse stock split
At the group meeting on 7 June, the board of directors will propose the distribution of a dividend 2023, relating to the 2022 financial year, equal to 0,05 euro for each category A and category B ordinary share. The coupon will be detached on 24 July 2023 and paid on 26 July.
At the assembly of the group on 7 June, one will be voted on, among other things amendment of the statute for the grouping of category A and B shares, according to a ratio of 1 to 5, and the consequent reduction of the nominal value of the same, of 0,06 euro and 0,60 euro respectively. And the statute will include "the possibility of holding meetings by audio-video conference". The group's shareholders' meeting will also resolve on the renewal of the treasury share purchase program for a period of 18 months within the limit of 20% of the share capital.
