evidencing both the cost synergies achieved and the Group's high degree of cost discipline. In
addition, these lower expenses have not entailed a decline in the ability to compete in the
market. Asmentioned, audience andmarket share in both television and radio have increased
simultaneously.
Profit from operations amounted to EUR 63million, 3.7 times greater than the figure for 2012.
Lastly, profit for the year after tax stood at EUR 46 million, as compared with EUR 32 million
in 2012.
On 18 December 2013, the Supreme Court issued an order enforcing the judgment which
rendered void the resolution of the Spanish Cabinet of 16 July 2010 regarding the allocation of
channels. At present, based on the information available, the interpretation of these decisions
and the fact that Atresmedia Corporación de Medios de Comunicación, S.A. has met all the
commitments and obligations imposed upon it, a satisfactory solution is still expected to be
reached.
Significant events for theGroup after the reportingperiod
On 19 February 2014 the Parent, through a relevant event communication and subsequent to
a resolution of its Board of Directors, announced a partial novation of the integration
agreement entered into on 14 December 2011 with Gestora de Inversiones Audiovisuales La
Sexta, S.A. ("La Sexta") and its shareholders, which set the terms and conditions for the
integration of La Sexta into the Atresmedia Group through a merger by absorption.
Specifically, the novation of the agreement relates to the terms and conditions regarding the
"Additional Ownership Interest", whereby La Sexta shareholders were granted the right to
receive an additional ownership interest of 7% of the share capital of Atresmedia Corporación
de Medios de Comunicación, S.A., conditional upon the Atresmedia Group's earnings
performance from 2012 to 2016, inclusive.
Under the novation, Atresmedia Corporación agreed, with Gamp Audiovisual S.A. and
Imagina Media Audiovisual, S.L., to bring forward and definitively adjust the delivery of the
additional ownership interest that would correspond to these companies. Accordingly, on 24
February 2014 they were delivered, with a charge to treasury shares, ownership interests in
Atresmedia Corporación de Medios de Comunicación, S.A. equal to 2.079% and 1.631% of its
share capital, respectively.
As a result of the negotiation process for this agreement and forming part thereof, other
agreements were reached with Gamp Audiovisual, S.A. and Imagina Media Audiovisual, S.L.
consisting of the cancellation of their proportional share of the financial derivative agreement
described in Note 9 and of the definitive conclusion of other matters relating to the
guarantees and obligations under the integration agreement entered into for themerger with
Gestora deMedios Audiovisuales la Sexta, S.A.
The recognition of all these transactions will give rise to an estimated reduction of EUR
13,631 thousand in the shareholders' equity of the Parent in the financial statements for
2014.
