> Media Capital announces results for the 1st half of 2014

Media Capital’s net income grew by 30% over 1H13 figures, reaching € 7.1 million

Media Capital’s first half EBITDA improved by 9% to € 18.1 million, with a corresponding margin of 20.4%. This performance was achieved through an increase of revenues (+2%), together with flat operating costs.

Despite not having final figures in what advertising market is concerned, the Group estimates to have outperformed.

TVI kept leadership in TV audiences, with an average share of 23.7% and 26.3% in all day and prime time respectively. The gap over the second most watched channel was 4.1pp in all day and 2.4pp in prime time, which compares with 2.7pp and 1.0pp in the same period of last year. TVI leadership was also reaffirmed when analyzing groups of channels, with 25.8% in all day and 28.0% in prime time. It is also worth highlighting that TVI was leader in the month of June, in spite of not having broadcasted any World Cup matches.

On financial grounds, the TV segment posted and EBITDA of € 15.4 million and a margin of 21.1%, with advertising going up by 17%.

The Audiovisual Production segment had a substantial improvement of its profitability, with an EBITDA of € 0.2 million (vs. € -2.7 million in 1H13), following the implementation of efficiency measures.

The Radio’s EBITDA was € 2.0 million until June (improving 26% YoY), which corresponds to a margin 25.8%. Media Capital estimates to have continued to increase market share in the radio advertising market, as its advertising revenues increased by 9%. In the latest data available for 2014, the radio station Rádio Comercial registered its 11th consecutive reading in the leadership.  

In Digital, the innovation achieved in solutions and contents were paramount in allowing this area to have a relevant boost of advertising revenues and continue to be a net positive contributor in EBITDA for the Group.


Full report here