March 12, 2019 / 5:32 PM / 3 months ago

Italian broadcaster Mediaset paints lacklustre outlook

MILAN, March 12 (Reuters) - Italy’s biggest private broadcaster, Mediaset, reported a 4 percent fall in 2018 net revenues on Tuesday, roughly in line with market forecasts, but painted a lacklustre outlook.

“The main macro-economic indicators confirm a further slowdown in the Italian economy,” it said.

“This limits visibility regarding the possible outlook in the advertising market in the coming months, in a general context that will also be characterised by the outcome of the European elections at the end of May.”

Full-year 2018 advertising revenue for the group, controlled by the family of former Prime Minister Silvio Berlusconi fell to 3.4 billion euros from 2017, the company said in a statement.

That was roughly in line with analysts’ consensus estimate of 3.38 billion euros, according to Thomson Reuters Refinitiv data.

Earnings before interest and tax slumped 67 percent to 73.7 million euros. (Reporting by Elvira Pollina Editing by Mark Bendeich)

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