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> Media Capital releases 2014 full year results

24/02/2015

Media Capital’s net income grew by 20%, reaching € 16.5 million

In 2014, Media Capital’s EBITDA improved by 5% to € 40.9 million, with a corresponding margin of 22.8%. This performance was chiefly achieved through an increase of advertising, together with decreasing operating costs.

The Group estimates to have outperformed the market in what advertising is concerned, as the consolidated advertising revenues went up by 11%, whereas the market is estimated to have grown by approximately 10%.

TVI kept the leadership in TV audiences, with an average share of 23.5% and 26.5% in all day and prime time respectively. The positive gap over the second most watched channel was 4.4pp in all day and 2.9pp in prime time, which compares with 3.5pp and 1.2pp in the same period of last year. TVI leadership was also maintained when analyzing groups of channels, with 26.0% in all day and 28.4% in prime time, i.e. respectively 3.6pp and 2.1pp above the second largest group of channels.

On financial grounds, the TV segment posted an EBITDA of € 34.9 million and a margin of 23.7%, with advertising going up by 11%.

The Audiovisual Production segment had a substantial improvement of its profitability, with an EBITDA of € 1.0 million (vs. € -1.9 million in 2013), following the conclusion of the restructuring that was initiated in 2013.

The Radio’s EBITDA was € 4.5 million, which corresponds to a margin of 28.1% and to a 41% improvement over 2013. At the end of 2014, Rádio Comercial maintained its status as #1 radio station (22.7% share), whereas the MCR’s aggregate group of radios registered a substantial improvement, reaching 32.8% share (31.4% in 2013).

In Digital, the innovation achieved in solutions and contents were paramount in allowing this area to have a relevant boost of advertising revenues and to improve its net positive contribution to the Group’s EBITDA.

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