Media Capital ended the first half with a loss of 4.8 million euros, comparable to a profit of 40.76 million euros for the same period last year thanks to capital gains from the sale of the radio business unit, it was reported this Friday. TV owner.
Operating profit fell 1% to 69.29 million euros, while earnings before interest, taxes, depreciation and amortization (EBITDA) was minus 1.28 million euros, even better compared to minus 3.63 million for the year. previously.
Excluding the contribution of the radio division to the reporting for the first half of 2022, the losses of the group led by Mario Ferreira decreased by 39% compared to 7.86 million euros, which were reported in the first half of last year.
Net debt increased by 77%, reaching EUR 28.54 million.
Company heading for layoffs
In the second half of the year, Media Capital announces its intention to cut staff. “The Group is in the process of revisiting its cost structure and its internal processes, which will become the engine and lever for more effective management. other measures that will adequately manage the available resources,” he points out.
Media Capital recently submitted an offer to buy Cofina Media, owner of Negócios, CMTV, Correio da Manhã, Saturday and Record. The proposal is being reviewed by Cofina’s board of directors.
Author: business magazine
Source: CM Jornal
I’m Dave Martin, and I’m an experienced journalist working in the news industry. As a part of my work, I write for 24 News Reporters, covering mostly sports-related topics. With more than 5 years of experience as a journalist, I have written numerous articles on various topics to provide accurate information to readers.