By Stuart Thomson

Strong growth in the advertising market in both Italy and Spain has lifted Mediaset’s first-half results above the level achieved in 2019 before the global pandemic struck, according to the company.

Mediaset posted net revenues of €1.387 billion(US$1.63billion) for the first half, up from €1.166 billion last year. The second quarter was particularly strong, with revenues of €753 million compared with €484 million in 2020.

In Italy, total revenues came to €963.7 million, compared with €791.3 million in the same period last year. In Spain revenues cam

EBITDA for the first half was €429 million, up from €300 million last year, with EBITDA for the second quarter rocketing to €247 million, up from €116 million.

The Italian media outfit said that growth in advertising had been a decisive factor both in Italy and Spain. In Italy, ad sales increased for the fourth successive quarter, and the company was also successful in keeping costs below pre-pandemic levels.

Spain recorded ad sales of €406.1 million, compared with €325.1 million in the previous six months. In Italy, meanwhile, the figure was €979.9 million, up 31.7 per cent, compared with €744.2 million in the same period of 2020.

The group’s consolidated net profit for the period came to €226.7 million, compared with a loss of €18.9 million in the same period of last year. Consolidated net result was better also than that of the first half of 2019, when the company recorded €102.7 million. Mediaset said that even after exceptional items, including the sale of the company’s 40 per cent stake in EI Towers and dividends from its stake in ProSiebenSat.1, the profit figure was still higher than the number for 2019.