MFE-MediaForEurope has reported a 44% drop in first half profits as the commercial TV group was battered by the energy emergency and a fall in consumer confidence.
The former Mediaset maintains its dominant position in the Italian (40%) and Spanish TV markets (57%) and its sales arm was at least able to maintain sales of €976.4 million, close to 2021 levels.
Its operating result (EBIT) of €112.0 million, compared with €198.7 million in the
same period of 2021.
Italian costs in particular took 10% from the bottom line as the Berlusconi-owned company grappled with rising energy costs.
