MFE Q1 operating profit beats estimates, helped by cost cuts

Mfe-mediaforeurope NV

13/05/2026 17:08

May 13 - MFE-MediaForEurope MFEB.MI on Wednesday reported first-quarter operating profit above market expectations, helped by lower costs, in an early sign that its push to tighten spending is lifting earnings.

The Italian broadcaster, controlled by the Berlusconi family, reported first-quarter operating profit of 13.6 million euros ($15.93 million), against a market estimate for a loss of 14 million euros. That compared with a loss of 50.1 million euros a year earlier, the company said.

MFE said the improvement was mainly due to a significant reduction in operating costs.

Q1 total costs were 1.45 billion euros, below a 1.48 billion euros in company-provided consensus

Q1 revenues stood at 1.463 billion euros, slightly above a company-provided consensus of 1.462 billion euros

Q1 net loss of 26.1 million euros, against a 41.3 million euros net loss in the same period of 2025

Advertisement revenue stood at 952.9 million euros, against 994.9 million euros in the first quarter of 2025

Trend over the first five months continues to show a marked improvement, the company said

In April and May, Spain, German, Austria and Switzerland showed signs of a more positive outlook, while Italy continued to demonstrate its resilience, it said

MFE expects significant improvement in 2026, especially in the fourth quarter of 2026, aims to improve its operating margin

On Wednesday morning German broadcaster ProSiebenSat.1 PSMGn.DE, which MFE took over last September, posted results above estimates helped by cost controls

MFE said pro forma data for the first quarter of 2025 were prepared assuming the consolidation of ProSiebenSat.1 from Jan. 1, 2025, to ensure a consistent and comparable basis with the first quarter of 2026

($1 = 0.8539 euros)

 (Reporting by Anna Uras; editing by Matt Scuffham)

 ((Anna.Uras@thomsonreuters.com))