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Investing.com -- Atresmedia Crprcn de Mds de Cmncn SA shares rose 1% on Thursday as the company reported its third-quarter and nine-month financial results for 2025.
The media group’s net revenues for the first nine months of 2025 declined by 2.3% year-over-year to €697 million, while third-quarter revenue remained flat at €190 million, falling short of the €216 million consensus estimate.
The company’s performance was primarily affected by weakness in the television advertising market and challenging comparisons with sporting events from the previous year. Group EBITDA for the third quarter came in at €5 million, significantly below the UBS estimate of €14 million, and showed a 22% year-over-year decline for the nine-month period.
In the audiovisual content segment, net advertising revenue (NAR) fell by 7% in the third quarter to €138 million, missing the consensus estimate of €158 million. For the nine-month period, this segment was down 5.7%.
Total advertising spend across all media types remained broadly flat compared to last year, with television advertising declining by 5.1% while radio advertising grew by 2.3%. The company’s radio revenues increased by 4.5% year-over-year to €60.3 million for the nine-month period and remained flat at €17 million for the third quarter, in line with consensus expectations.
Despite the revenue challenges, Atresmedia maintained its market leadership in prime time with a 25.6% audience share year-to-date, ahead of competitor Mediaset.
The group reported a net cash position of €70.5 million at the end of the nine-month period and now expects to finish the year with €50 million in net cash. In June, the company paid a final dividend of €0.47 per share from its 2024 profit.
Given the third-quarter performance, analysts suggest that downgrades to current consensus expectations are likely. The market currently expects audiovisual content NAR to decline by 1% for the full fiscal year 2025.
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