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Media Capital goes from losses to a profit of 319 thousand euros in 2023
Media Capital registered a profit of 319 thousand euros last year, which compares with losses of 12.1 million euros in 2022, the owner of TVI announced today.
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Economia Media Capital
"In 2023, the Media Capital group achieved a positive net result of 0.3 million euros, representing a clear recovery compared to the negative results recorded in previous years and in particular in 2022, of 12.1 million euros", says Media Capital, in a statement sent to the Securities Market Commission (CMVM).
"Corrected for the effect of provisions, impairment of rights and restructuring, the adjusted net result reached 1.5 million euros, representing an increase of 5.6 million euros compared to 2022", can be read in the document.
The operating income of TVI's owner amounted to 150.9 million euros last year, "about 1% above that recorded" in 2022, driven "essentially by the performance of the audiovisual production segment, which saw an increase of 25%".
Advertising revenue fell by 4% "to 98.7 million euros, due to the reduction recorded in the advertising market on free-to-air television", while there was "growth in advertising revenue" on pay-TV channels, "which achieved growth of 30%, also due to good audience results", reads the statement.
Other operating income rose 11% to 522 million euros, "as a result of the performance in the audiovisual production segment and the sale of content".
The consolidated adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of net expenses with provisions and restructuring reached 10.4 million euros, 75% more than a year earlier.
"This growth reflects the positive contribution made by all business segments", says Media Capital.
Read Also: Alfredo Alves Pereira is the new director of Media Capital (Portuguese version)
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