Antena 3 Net Income Slumps as Audience Share Slips
Net income fell to 133.5 million euros ($192 million) from 216.2 million euros a year earlier, Antena 3 said today in a filing. Net sales rose 1.6 percent to 734.4 million euros and earnings before interest, taxes, depreciation and amortization dropped 8.7 percent to 222.9 million euros.
Antena 3, based in Madrid, has fallen behind rival Gestevision Telecinco SA, which led the ratings for the 19th straight month in September and is on track to do the same this month. Antena 3's average audience share for the first nine months of the year dropped to 17.7 percent from 19.8 percent a year earlier.
``Antena 3's ongoing problem is the loss of audience share,'' Pablo Garcia, head of equities at Oddo Sociedad de Valores in Madrid, said in an interview today.
Antena 3 Chief Operating Officer Silvio Gonzalez forecast full-year sales will increase about 1 percent and said the average audience share for 2007 will be ``a little bit below'' 17.5 percent. Gonzalez, speaking on a conference call for analysts, also said he expects the broadcaster to be able to continue to increase prices.
Profit was expected to be 135.6 million euros on sales of 730.2 million euros, with Ebitda reaching 221.4 million euros, the median estimates of seven analysts Bloomberg News surveyed by phone and e-mail.
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