Pier Silvio Berlusconi
Lapresse
Prosieben embraces Piersilvio’s line and prepares to sell its e-commerce business
Prosieben, the German broadcaster of which Mfe-Mediaset is the main shareholder with almost 30% of the capital, improves profit in the second quarter bringing it to 25 million against 21 in the same period 2023In the first six months, profit was 33 million versus a loss of 11 million in the first six months of last year. Revenues also performed well, growing by 5% in the three months to 907 million euros (1.7 billion in the six months).). The German company confirmed its full-year guidance with revenues of 3.95 billion, 150 million more than last year. Debt decreased by 11% to 1.5 billion.
“We are pleased with our business performance in the first two quarters of the year: our strategy of focusing on entertainment with increased investments in content, while continuing to implement operational cost efficiencies, is starting to bear fruit,” said Bert Habets, CEO of Prosieben. In practice, the German broadcaster has adopted the line dictated by Mfe which had asked for a greater focus on the core business of television content and the sale of e-commerce activities.
And the CEO of Prosieben is following to the letter the instructions of Pier Silvio Berlusconi, CEO of Mfe. “We are pursuing – a company note states – an active management of the portfolio with the aim on the one hand of creating synergies within the group and on the other of valorizing large holdings such as Verivox and Flaconi: the proceeds of the disposals would significantly reduce net debt”. According to analysts, Prosieben could generate around 700 million euros from the sale of the two companies and at least one of the divestments could be completed in the first quarter of 2025. In addition to Mfe, Prosieben’s other major shareholder, Ppf, which has around 15%, has also requested the sale of the two companies to focus on its core television business.
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