Mediaset: turnover of €3.667bn (+4%) and net loss of -€294.5m for fiscal year 2016

The Italian audiovisual group Mediaset announced a turnover of €3.667bn for fiscal year 2016 (01/01 to 31/12/2016), following the meeting of its board of directors on 19/04/2017. This represents an increase of 4% compared to 2015 (€3.525 billion). Mediaset recorded operating income (EBIT) of -€189.2m, compared to a positive mark of €230.7m for fiscal year 2015. Mediaset's net profit for the year ended on 31/12/2016 was -€294.5m.

"In particular, there were a series of extraordinary one-off charges - resulting from commitments made following the signing of the contract with Vivendi (regarding Mediaset Premium) and the necessary subsequent writedowns amounting to €269.3m at the EBIT level. To this item was also added unexpected liabilities related to the unforeseen continuance of the pay-TV business in the fourth quarter of 2016. A business that - also due to the operational uncertainty suffered from April to October 2016 - generated an additional loss of -€72.0m. The sum of these non-recurring items attributable to infringements by Vivendi resulted in total extraordinary expenses for…