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CONSOLIDATED FINANCIAL STATEMENTS AND CONSOLIDATED MANAGEMENT REPORT 2015
highest figures in the business.This was a year in which investment showed a remarkable recovery, and is without a doubt
an indication of the medium’s excellent health as a commercial communications tool.
The above increases are mainly the result of the partial recovery of prices which had shot downward, and with little or
no hope of continuity with regard to the highs reached in 2007.
Based on best estimates at the date of the preparation of these financial statements, in 2015 the Mediaset Group
captured 43.4% of the average investment in this medium (2014: 44.2%), which was chiefly thanks to the 2014 World
Football Championship.
With regard to the audience, data for the year unequivocally indicate that the Group continues as the indisputable
overall leader (31.0%), with a 0.3 point increase with respect to 2014, and even despite a more difficult comparison with
the prior year, due to sporting events held then (mainly, the Brazil World Cup). This historic record for a commercial
Spanish television channel is 4.2 higher than our main competitor, with just 26.8% for all its channels together.
These data are also very positive for our main channel (Telecinco), which has increased its share of audience 0.3 points,
from 14.5% to 14.8%, the pinnacle since 2009.These numbers reflect that our benchmark channel is 1.4 points over its
chief competitor, Antena 3, with a 13.4% share during the year.
Cuatro’s audience ratings grew 0.5 points during the year (7.2% vs. 6.7% the prior year), thereby making it the year’s
fastest-growing channel, while the Group’s four theme-related channels (Factoría de Ficción, Boing, Divinity, and Energy)
registered a cumulative audience share of 9%, just 3 points with respect to our main competitor’s channels.
Therefore, during 2015, a tender took place to assign the frequencies withdrawn from the open-air channels (in which
our Group had to return two of its nine affected channels), due to a Supreme Court ruling which ordered their
return under the tender offer, with the subsequent assignment of channels.
The end result was the assignment of six channels in all, one corresponding to our Group and another to AtresMedia,
while the other four (one which is high definition and three standard) were granted respectively to Real Madrid, the
Spanish Episcopal Conference, Kiss FM, and Secuoya.
In this new panorama, Mediaset España is consolidated with one more channel than AtresMedia, confirming our position
in a stable scenario as regards the number of operators in the sector after a period marked by uncertainty and turmoil
caused by the legal proceedings filed against the prior channel assignation scheme, which is without a doubt magnificent
news for the sector.
Comparing the Group’s results in 2015 with those of 2014, the following is evident:
• Total operating income rose from 932,087 thousand euros in 2014 to 971,931 thousand euros in 2015, mainly
due the increase in advertising revenues.
• Operating expenses went from 787,333 thousand euros in 2014 to 766,747 thousand euros in 2015, with a
decrease which can be explained by the 2014 World Cup broadcast as well as the continuation of the Group’s
traditional cost containment policies.
• Finally, the net result attributable to the year during 2015 was 166,167 thousand euros vs. 59,492 thousand
euros during 2014, which is a very significant improvement, mainly thanks to the recovery of operational margins
during the year based on the increase in operating income, and expense control.
DIVIDENDS
In 2015, a total of 36,970 thousand euros in dividends were distributed, charged to 2014 results, as well as another
extraordinary dividend amounting to 10,571 thousand euros.