Media Capital with losses of 4.8 million in the first half and will cut staff
The owner of TVI closed the first half of the year with a loss of €4.8 million. In the first half of 2022, it recorded a profit of 40.76 million, thanks to the capital gain obtained from the sale of the radio unit. Media Capital indicates that it will go into the termination program to cut costs.
Victor Mota
Media Capital ended the first half with a loss of €4.8m, a value that compares to a profit of €40.76m in the same period last year — thanks to capital gains obtained from the sale of its radios business unit, As reported on Friday. TVI owner.
Operating income fell 1% to €69.29m, while EBITDA was negative €1.28m, an improvement, though, compared to €3.63m from the previous year.
Excluding the contribution of the radio unit to the accounts for the first half of 2022, the group’s losses led by Mario Ferreira were reduced by 39% compared to the €7.86 million reported in the first half of last year.
Net debt increased by 77% to €28.54 million.
The company offers layoffs
For the second half of the year, Media Capital announces its intention to reduce its staff. He points out that “the group is in the process of reviewing its cost structure and internal processes, which will be the driving force and leverage for increasingly effective management. Other measures allow proper management of available resources.”
Media Capital recently made a bid for Cofina Media, owner of Negócios, CMTV, Correio da Manhã, Saturday and Record. The proposal is under analysis by the Cofina Board of Directors.
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