JANUARY-JUNE 2019 RESULTS
30 June 2019
Atresmedia's consolidated financial statements were prepared in accordance with International Financial Reporting Standards (IFRS), taking into account all mandatory accounting principles and rules and measurement bases, as well as the alternative treatments permitted by the legislation in this regard. In addition, information is disclosed on the individual performance of the Group's two main lines of business: Audiovisual and Radio.
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1. | HIGHLIGHTS ....................................................................... | 3 | |
1.1 | Milestones and key figures.............................................. | 3 | |
1.2 | The economic climate and the market.............................. | 4 | |
2. | ATRESMEDIA....................................................................... | 6 | |
2.1 | Consolidated Income Statement...................................... | 6 | |
2.1.1 Net revenue ......................................................... | 7 | ||
2.1.2 Operating expenses............................................... | 7 | ||
2.1.3 Operating earnings and margins ............................. | 8 | ||
2.1.4 Profit before tax.................................................... | 9 | ||
2.1.5 Consolidated profit for the period ............................ | 9 | ||
2.2 | Consolidated Balance Sheet.......................................... | 10 | |
2.3 | Consolidated Cash Flow Statement ................................ | 12 | |
2.4 | Share price................................................................. | 13 | |
2.4.1 Atresmedia's shares ............................................ | 13 | ||
2.4.2 Analysts' recommendations .................................. | 14 | ||
2.5 | Corporate Social Responsibility...................................... | 14 | |
3. | AUDIOVISUAL ................................................................... | 16 | |
3.1 | Income statement ....................................................... | 16 | |
3.1.1 Net revenue ....................................................... | 16 | ||
3.1.2 Operating expenses............................................. | 19 | ||
3.1.3 Operating earnings and margins ........................... | 20 | ||
3.2 | Audiences................................................................... | 21 | |
3.2.1 Television viewing ............................................... | 21 | ||
3.2.2 Television audiences............................................ | 22 | ||
3.2.3 Digital audiences................................................. | 27 | ||
4. | RADIO.............................................................................. | 30 | |
4.1 | Advertising market and audience figures ........................ | 30 | |
4.2 | Income statement ....................................................... | 31 |
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1. HIGHLIGHTS
1.1 Milestones and key figures
Atresmedia. Key figures
Operational highlights
Total TV audience
TV market share
Radio listeners (thousands) (2nd EGM wave. Rolling average)
Jan-JunJan-Jun
2019 2018
26.9% 26.7%
41.7% 41.6%
3,470 3,875
Total no. employees | 2,440 | 2,028 |
Financial highlights | Jan-Jun | Jan-Jun |
Euros (in thousands) | 2019 | 2018 |
Net revenue | 539,905 | 550,623 |
EBITDA | 103,770 | 101,252 |
Profit for the period | 69,586 | 69,268 |
Net financial debt | 218,179 | 238,686 |
Atresmedia's EBITDA for the first half of 2019 totalled 103.8 million euros, a 2.5% increase on the first half of 2018, with consolidated profits of 69.6 million euros.
According to Infoadex, Atresmedia Television's market sharefor the period was 41.7%.
Atresmedia Television achieved an audience shareof 26.9%, heading the rankings with a prime time commercial target audience of 29.6%, 1 percentage point more than Mediaset España.
Antena 3 obtained a 12.4% audience share in the period, heading commercial target prime time audience figures with a 13.7% share, 0.2 percentage points ahead of its main rival.
laSexta stayed 2.0 points ahead of its main competitor with an average audience figure of 7.2%, and 7.8% for commercial target audience in the prime time slot.
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The complementary channels (Neox, Nova, Mega and Atreseries) achieved a combined audience share of 7.4% in the six months to June 2019, with a commercial target audience of 8.8%.
According to statistics published by ComScore in June, Atresmedia's Digital business continued to head the internet rankings for audiovisual groups, with 24.0 million unique visitors, and it was the ninth most visited website in Spain.
Films on release from Atresmedia Cine during the first half of the year accounted for 22% of total earnings for Spanish cinema.
Atresmedia's international channels, meanwhile, had 57 million subscribers, 4 million more than at June 2018, an increase of 7%.
Atresmedia Radio's stations, Onda Cero, Europa FM and Melodía FM, maintained their position with 3.5 million listeners, according to the latest study (2nd 2019 EGM wave).
1.2 The economic climate and the market
In July the Fundación de las Cajas de Ahorros (FUNCAS) forecast GDP growth of 2.3% for 2019, 0.1 percentage point more than previous forecasts. Domestic demand is expected to rise by 2.3 percentage points while exports will not add any point to the GDP growth.
The overall increase of 2.3% is in line with the European Comission forecasts, slightly below the Bank of Spain expectations (2.4%) and slightly higher than Government, OECD and IMF estimates.
The FUNCAS panel of experts has not revised its 1.9% forecast for 2020.
The number of new jobs created is expected to increase by 2.2% in 2019, while somewhat slower growth of 1.7% is forecast for 2020. The unemployment rate is expected to fall from 13.7% in 2019 to 12.7% in 2020.
Household consumption is expected to increase by 1.8% in 2019 and by 0.1 percentage points less (1.7%) in 2020.
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Atresmedia Corporación de Medios de Comunicación SA published this content on 25 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 July 2019 07:44:01 UTC