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Media Capital doubles profits
Rose Major ©RapidTVNews | 13-02-2008
Portuguese media group Media Capital, controlled by Spanish media group Prisa, nearly doubled its profits in 2007.
The company had a net profit of EUR30.2 million last year, 96% more than in the previous year. However, EBITDA was EUR46.1 million, up just seven per cent on 2006. The Portuguese company also said the EBITDA margin was 20.7% which represents a growth of 0.5 percentage points.
Media Capital's TV channel TVI was one of the reasons for this economic success leading audiences for the third consecutive year with growth of three per cent of its operational profits thanks to a growth of two per cent in its advertising incomes. Operation costs went up by four per cent in relation to 2006 reaching EUR176,2 million. However, Media Capital's debt went up by 37% to EUR97.7 million at the end of last year.
Aside from TVI, Media Capital owns several radio stations, electronic publications and an internet access provider. Media Capital's share holders are Vertix (owned by Prisa) with 94.4% and bank Caixanova with five per cent. Last year Prisa launched a takeover bid for Media Capital through which it got most of thte capital of the company from the three main shareholders Pais do Amaral, Nicolas Berggruen and RTL. - February 14, 2008
