Telecom Italia Media Q1 revenues up 31.5 pct; net loss smaller than consensus |
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Mon, 07 May 2007 14:59
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MILAN (Thomson Financial) - Telecom Italia Media SpA, a unit of Telecom Italia SpA, said first quarter sales rose 31.5 pct to 57.6 mln eur boosted by strong advertising sales in Italy and by strong sales of its digital terrestrial platform.The company, which is known for its television channel La7, its music television channel MTV and wire service APCom, said its net loss narrowed to 19.3 mln eur from 26.3 mln while EBITDA was negative by 11 mln eur versus a loss of 28 mln in the same period a year ago.A Thomson First Call consensus forecast had revenues coming in at 57 mln eur with and EBITDA of minus 16 mln eur and a net loss of 20 mln eur.The group attributes the EBITDA gains to improvements in its free-to-air activities, higher profitability at its digital terrestrial division and cost rationalisation on its free-to-air digital channels.TI Media said free-to-air revenues rose 17.7 pct to 38.5 mln eur, thanks to a 13.9 pct rise in domestic advertising sales, while EBITDA improved by 55.9 pct to a negative 4.1 mln eur.Digital terrestrial television revenues rose 132.1 pct to 12.3 mln eur with EBITDA rising 77.1 pct to minus 3.6 mln eur thanks to higher pay-per-view revenues and margins.The rise can be attributed to the La7 Cartapiu' commercial offer which benefitted from Telecom Italia's agreement with Mediaset SpA to broadcast premier league football matches.Net financial debt at the end of March stood at 190.6 mln eur compared with 128.2 mln eur at the end of December due to industrial investments to buy television rights and develop the digital terrestrial platform.yael.schrage@thomson.comysc/jsaCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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CORRECTION Telecom Italia Media swings to FY net loss on one-offs 