MFE posts Q1 operating profit, driven by cost cuts

About this update from Mfe-mediaforeurope Nv Class A

OverviewThe broadcaster reported Q1 revenue up yr/yr to EUR 1.46 blnQ1 EBIT improved to EUR 13.6 mln, a turnaround from prior pro forma lossCompany attributed results to cost reductions and operational efficienciesOutlookCompany expects improved performance in coming quarters, especially in financial results and cash generationMFE says ongoing uncertainty in European advertising markets will affect visibility in Q2Result DriversCOST REDUCTIONS - MFE said total consolidated costs fell by EUR 133.3 mln (-8.4%) yr/yr, supporting improved profitabilityNON-ADVERTISING REVENUES - Non-advertising revenues in Entertainment segment rose to EUR 191.4 mln from EUR 179.3 mln yr/yrCompany press release:Key DetailsMetricBeat/MissActualConsensus EstimateQ1 RevenueEUR 1.46 blnQ1 EBITEUR 13.6 mlnAnalyst CoverageThe current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and 2 "sell" or "strong sell"The average consensus recommendation for the broadcasting peer group is "buy"Wall Street's median 12-month price target for Mfe-Mediaforeurope NV is €4.60, about 27.1% above its May 12 closing price of €3.62The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 8 three months agoFor questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

View stock analysis, news, and events for Mfe-mediaforeurope Nv Class A