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FINANCIAL STATEMENTS AND MANAGEMENT REPORT 2015
This upward shift is thanks toTV consumption, which is measured in minutes by spectator and day: although it dropped
to historic lows during mid-2013, and had clearly been inflated by the economic downturn, it still posted some of the
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 Company 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Therefore, during 2015, a tender took place to assign the frequencies withdrawn from the open-air channels (in which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 Company’s results in 2015 with those of 2014, the following is evident:
• Total operating income rose from 732,666 thousand euros in 2014 to 765,398 thousand euros in 2015, mainly due
the increase in advertising revenues, although non-advertising income also performed quite positively.
• Operating expenses went from 678,734 thousand euros in 2014 to 656,164 thousand euros in 2015, with a
decrease which can be explained by the continuation of the Company’s traditional cost containment policies.
Finally, the net result attributable to the year during 2015 was 167,404 thousand euros vs. 59,963 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.