Overview
The broadcaster reported Q1 revenue up yr/yr to EUR 1.46 bln
Q1 EBIT improved to EUR 13.6 mln, a turnaround from prior pro forma loss
Company attributed results to cost reductions and operational efficiencies
Outlook
Company expects improved performance in coming quarters, especially in financial results and cash generation
MFE says ongoing uncertainty in European advertising markets will affect visibility in Q2
Result Drivers
COST REDUCTIONS - MFE said total consolidated costs fell by EUR 133.3 mln (-8.4%) yr/yr, supporting improved profitability
NON-ADVERTISING REVENUES - Non-advertising revenues in Entertainment segment rose to EUR 191.4 mln from EUR 179.3 mln yr/yr
Company press release:
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
EUR 1.46 bln
Q1 EBIT
EUR 13.6 mln
Analyst Coverage
The 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 €3.62
The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 8 three months ago
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