Vocento losses multiply to €18.45 million -
Vocento losses multiply to €18.45 million
Iñaki Ferreras | 31-07-2012
Performing better than the market is a wish for most companies but for a Spanish company the claim has to be tempered with what is going on in the country right now and so the performance of the Vocento group has to be put into context.
Even though its revenues fell by €45.5 million over the course of twelve months, the leading multimedia communications posted an EBITDA for the first half of 2012 of €20.8 million. However when other cost items were taken into account, the company posted a half yearly loss of €4.6 million compared with a € 3.4 million loss a year earlier.
Despite the general train wreck of a general audiovisual sector, television actually performed well for Vocento in the half year. Comparable EBITDA in the audiovisual area was up €5.4 million, with the Television business increasingly profitable. The sector showed comparable EBITDA up €6 million. In the first half of the year, the audience for the Net TV multiplex increased to a share of 4.5%, with the Paramount Channel achieving an audience share of 1% since its launch in April.