2018 revenues were down by 4% yoy at €3.4bn, quite in line with our estimates at €3.43bn. The Q4 was, as expected, weak in Italy with the expected process of digital transformation of the Pay TV business (as a reminder the group signed a content deal with Sky in April 2018 to stop losing money in that activity but with less revenues as a counterpart). EBIT was, however, very poor at €75m. This is due to the realignment of the accounting of Pay TV rights (for c.€200m) and,
14 Mar 2019
A 2.8% decline for advertising revenues in Italy during Q4
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
A 2.8% decline for advertising revenues in Italy during Q4
MFE-MediaForEurope NV Class B (MFE2:WBO) | 0 0 1.8% | Mkt Cap: 3,817m
- Published:
14 Mar 2019 -
Author:
Jean-Michel Salvador -
Pages:
3
2018 revenues were down by 4% yoy at €3.4bn, quite in line with our estimates at €3.43bn. The Q4 was, as expected, weak in Italy with the expected process of digital transformation of the Pay TV business (as a reminder the group signed a content deal with Sky in April 2018 to stop losing money in that activity but with less revenues as a counterpart). EBIT was, however, very poor at €75m. This is due to the realignment of the accounting of Pay TV rights (for c.€200m) and,