Rapid TV News

Spain's commercial sector sparkles

Iñaki Ferreras ©RapidTVNews | 30-07-2010

First results from a clutch of Spanish broadcasters after the cessation of advertising on public broadcaster RTVE show that the impact has been huge. After Telecinco's 73% half-year profit growth reported yesterday, Grupo Planeta's Antena 3 has also reported profits more than double the same period last year.

 

Spanish broadcaster Antena 3 said its net profits were more than double the same period the previous year - €57.6 million compared with €22.7 million.

EBITDA stood at €85.9 million, 87% more than in the same period a year ago. Operating expenses grew 5.4% to reach €336.8 million. According to the company this growth is due to the bigger variable expenses in relation to the ordinary incomes and also to costs associated with the reestructuring process carried out by the group.

As with Telecinco’s results announced yesterday, Antena 3 has clearly benefited from the fact that public broadcaster RTVE is no longer carrying advertisements. A growth in Antena 3’s advertising prices have also had positive repercussions in the group's results.

In the first half of this year Antena 3's net revenues amounted to €422.7 million, 15.7% more than in the same period last year due to strong advertising sales. In particular in the TV area Antena 3 grew 3% in the market place, from commanding 25% of the advertising market in the first half last year to 28% in the same period this year.