Atresmedia : H1 2023 results beat our forecasts, stabilisation of advertising over the summer
>Neutral rating reiterated - Atresmedia yesterday reported its H1 2023 results, which were above our expectations (EBITDA H1 of € 88.6m vs € 78m expected). The main difference with our expectations comes from the costs that came out lower than our expectations with a saving on programmes. Advertising growth (TV + digital) in Q2 reached +0.8%, we were looking for -0.4%. We do not have details on the TV advertising trend on its own as the group now publishes a com...Atresmedia Corporacion De Medios De Comunicacion is a television and radio broadcasting company based in Spain. Co. is engaged in the indirect management of television and radio services, which include the broadcasting, creation, production and distribution of television and radio programming, and the sale of advertising time. Group companies mainly carry on business activities relating to the production, copying and broadcasting of sounds and images, and TV and Internet home shopping. Co. provides National and World Digital Television Services. Co. is the parent company of Grupo Antena 3.
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