Atresmedia Corporación de Medios de Comunicación (A3M) Q4 2024 earnings summary

Executive summary

• Achieved audience leadership for the third consecutive year with a 26.4% share, maintaining prime time leadership and strong performance across all divisions.

• Total revenue rose 4.8% to €1,018 million, the highest since 2019, with EBITDA at €177.6 million (+2.6%).

• Digital platforms averaged 23.8 million unique users and 677,000 paid VOD subscribers, up 14% year-over-year.

• Radio audience reached a three-year high, with 3.0 million listeners and EBITDA up 20.7%.

• Delivered attractive shareholder returns, with total shareholder return at +32% and a record dividend proposed for 2025.

Financial highlights

• Group revenue increased 4.8% to €1,018 million; EBITDA rose 2.6% to €177.6 million; EBIT margin at 15.7%.

• Net profit (proforma) grew 1.4% to €120.3 million; reported net profit affected by a prior year tax adjustment.

• Net financial position improved to €140 million; cash and cash equivalents increased to €304.8 million.

• Dividends paid in 2024 totaled €101 million (€0.45/share), with a final dividend proposal of €153 million (€0.68/share) for June 2025.

• Share price rose 21.6% in 2024, outperforming the IBEX 35's 14.8% gain.

Outlook and guidance

• Expecting low single-digit revenue growth and EBITDA margin of 17–18% for 2025.

• Net financial position projected at €50–75 million after dividends in 2025.

• Dividend policy to remain at ~80% payout, with €105 million dividend planned for June 2025.

• Market uncertainties persist, especially in the automobile sector and broader economic/geopolitical environment.

• Focus on digital growth, content leadership, and international expansion.