Mfe, profit of over 10 million in the first quarter
Mfe-Mediaforeurope closes the first quarter of 2023 with consolidated net revenues of 646.6 million euros compared to €654.3 million in the first quarter of 2022 and a net profit of €10.1 million compared to €2.7 million in the same period of 2022, also benefiting from the increase in the stake held by Mfe in Mediaset España, which rose to 84 .45% compared to 55.69% in the first quarter of 2022. The operating result was positive for 19.3 million euros.
Mfe: advertising in Italy in the quarter +0.4%
In Italy, in the first quarter of the year, Mfe’s gross advertising revenues reached 462.7 million euros (+0.4%) compared to 460.9 million in the same period of 2022. An “extremely positive result because it exceeds the level of advertising sales in the first quarter of 2022 when Mfe, in contrast to the main competitors, had already started to grow decisively (+2.0%)”. The collection of the quarter in question exceeded that recorded in the same period of 2021. According to Nielsen surveys, in the first quarter of 2023, seasonally more favorable to the public competitor, the advertising market grew by 3.1%, driven in particular by radio and digital media and by other minor sectors (out of home, cinema) which have yet to recover the levels of pre-pandemic investments. In Spain, gross advertising revenues amounted to 166.8 million euros compared to 175.1 million in the first quarter of 2022, with a performance which, after the first two negative months affected by a difficult market context, is recording a progressive recovery from March. A result “that confirms the leadership of the Group’s television media in the reference advertising market”.
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