Italy-based media group MFE-MediaForEurope achieved a net profit of €251 million in 2024, up 15 per cent year-on-year and 60 per cent higher than forecast at the beginning of 2024.

According to the preliminary financial results for 2024, EBIT reached €370 million, free cash flow amounted to €343 million (+23 per cent), while revenues increased 5 per cent to €2.95 billion.

MFE reduced its net debt to €692 million, the lowest in a decade, despite paying €140 million in dividends. Reported operating profit (including €15 million in restructuring costs) also saw an 18 per cent increase.

Italian market share hit a record 40.9 per cent, outperforming competitors despite missing out on major sporting event broadcasts. Strong advertising sales in both Italy and Spain drove the positive results, up 4.7 per cent in 2024 and starting 2025 with a 1 per cent January increase.

While market conditions remain uncertain, MFE anticipates a favourable 2025 due to the absence of major sporting events. The company’s robust cash flow significantly contributed to its debt reduction.

MFE CEO Pier Silvio Berlusconi stressed the importance of MFE’s growth strategy, focused on local content investment in Italy and Spain, with further European expansion planned. He also emphasised the need for fairer competition with “big tech and streaming giants,” citing their regulatory advantages as a threat to the broader European economy.

The unaudited financials regard the company’s Italian and Spanish operations and exclude the investment in Germany’s ProSiebenSat1 (P7S1), which will report separately next week. MFE’s full audited consolidated financial statements will be officially approved by the Board on April 16th.

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Categories: Articles, Business, Results

Tags: MediaforEurope, MFE, Silvio Berlusconi