Spain's Antena 3 Reports Net Profits Down 6.4 % in First Half to $77 Million
MADRID – Net profits at Spanish broadcaster Antena 3 fell 6.4 percent in the first half of this year to €54 million ($77 million) with net revenues almost flat compared to the same period a year ago at €421 million ($602 million), the group announced on Thursday.
But other net revenues plunged by 33 percent to €10.4 million ($15 million).
Net television ad sales, which have been stagnant at best for Spanish media companies over the past several years, edged up a scant 0.5 percent to €348 million ($497 million).
In its results statement, the group said there was a decline in beverage, automotive, food and beauty products ads in the January-June period, but finance and telecom were the only positive drivers.
Operating expenses were €343 million ($490 million), up 1.8 percent.
According to the group, accumulated audience for its four channels, flagship Antena 3, plus Neox, Nova and Nitro, increased to 16.5 percent, compared to its 15 percent share a year ago, stressing that the three complimentary channels had performed well in the reporting period.