> Media Capital announces results for the 1st half of 2013

Media Capital registered an EBITDA of € 16.6 million.

Notwithstanding the impact of the negative economic framework in the advertising market (which is estimated to have decreased by 17% until May – June data is not available yet), Media Capital’s operating revenues came down only 4% against the comparable period, benefiting from the Group’s strategy to develop revenue sources complementary to advertising.

Net profit improved by 35% vs. 1H’12, due also to lower financial costs.

According to Marktest/Kantar Media, TVI continued to rank number one in TV audiences, registering an average audience share of 26.9% and 29.4%, in all-day and prime-time respectively. TVI continues to invest in the best contents, having launched its newest channel, +TVI, in January, while expanding TVI Internacional and TVI24’s geographic presence. On the financial front, the TV segment had an EBITDA of € 16.9 million (24.1% margin), representing an increase of 50% when compared with the first half of 2012, benefiting from a good performance of revenues and cost control.

As a result of a lower number of productions, the Audiovisual Production segmentobtained an EBITDA of € -2.7 million. The construction of sceneries and sale of technical services have successfully intensified Plural Entertainment’s internationalization process. The Group expects in the following quarters to increase the number of productions. Coupled with the implementation of efficiency enhancing measures, this should translate into an improvement of this segment’s operating performance going forward.

The EBITDA of the Radio segment was € 1.6 million from January to June, with a margin of 22.6%. The main highlight refers to the continuing growing trend in what advertising share is concerned, as a result of the good performance in audience share and reach. As such, MCR’s advertising revenues were up 2%. According to the latest data available for 2013, the radio station Rádio Comercial kept ranking as number one, with a reach of 15.1% (corresponding to an audience share of 20.3%).

In Digital, the improvements in contents and commercial offer, coupled with a tight cost control, had a positive impact for the Group’s operating performance at the consolidated level.