Portugal: Media Capital cuts losses in 2021
April 12, 2022
From Branislav Pekic in Rome
Portuguese media group Media Capital posted a €4.1 million loss in 2021, a 63 per cent improvement over the €11.1 million loss the previous year. Operating revenues increased by 15 per cent to €157.7 million.
Despite the Covid-19 pandemic, advertising revenues increased 16 per cent year-on-year, due to the recovery of the advertising market and strong audience growth for national commercial TV channel TVI.
EBITDA improved by 87 per cent, from €6.2 million to €11.6 million, while operating expenses rose 11 per cent, from €131.4 million to €146.1 million.
Financial debt on December 31st2021 stood at around €83.8 million, down from €103.8 million in the same period a year earlier.
The group’s TV channels (TVI, TVI24, CNN Portugal, TVI Ficção and TVI Reality) registered a total audience share of 20.1 per cent during daytime and 22.6 per cent in prime time.
TVI saw 1.8 per cent share growth to 16.9 per cent, reducing the difference to the main competitor to only 2.4 points.
Launched on November 22nd, CNN Portugal has already reached the leadership position among news and information channels in Portugal.
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