Feb 26 • 09:31 UTC 🇪🇸 Spain El Mundo

Atresmedia maintains 1 billion in revenue, despite falling profits from advertising and restructuring

Atresmedia reported stable revenues of 1 billion euros, but saw a significant drop in profits due to a challenging advertising market and a voluntary redundancy plan.

Atresmedia has managed to uphold its historical revenue benchmark of 1 billion euros in a challenging year marked by poor performance in the advertising market and the implementation of a voluntary redundancy program which led to a double-digit decrease in profits. Despite these hardships, the company plans to propose an extraordinary dividend of 0.21 euros per share to its shareholders, which would equate to a distribution of 47.2 million euros, reflecting its commitment to shareholder returns even amid difficulties.

The group's profits fell to 62.1 million euros, representing a 48% decline compared to the previous year, primarily attributed to a provision of 45.6 million euros related to the voluntary redundancy plan. While revenue decreased by 1.5% to 1,002 million euros, the decline in earnings was less pronounced than the revenue drop, attributed to the diversification strategies Atresmedia has implemented over the last decade.

As part of its ongoing diversification efforts, Atresmedia acquired the events agency Last Lap and is poised for further developments. This strategy has been crucial in helping the company navigate through the volatility of the advertising market while still maintaining a substantive revenue figure. The focus on diversifying income sources indicates a forward-thinking approach amid uncertainties in traditional advertising.

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