Métropole Télévision (MMT) Q3 2024 TU earnings summary

Executive summary

• Consolidated revenue for the first nine months of 2024 reached €935.7 million, up 3.3% excluding scope effects year-over-year.

• TV advertising revenue grew 3.7% to €647.4 million, while streaming revenue surged 35% to €63.8 million.

• Q3 2024 revenue declined 5.8% to €278.8 million, impacted by the Olympic and Paralympic Games broadcasts.

Financial highlights

• EBITA for the nine months was €157.1 million, down 17.7%, with an operating margin of 16.8%.

• Group equity stood at €1,261.2 million and net cash at €182.9 million as of 30 September 2024.

• TV content costs rose to €373.7 million, reflecting higher sports and streaming investments.

Outlook and guidance

• The advertising market remains uncertain for the remainder of the year due to economic and political factors.