73 / 140
2
As a result of all this, the Group's set of channels achieved an average audience share of
26.8%, down nine tenths on 2014. It should be noted that as a result of the changes
discussed above, Atresmedia operated an average of 4.5 channels in 2015, compared to 5 in
2014. Even so, the efforts made in the areas of finance and programming meant that
audience levels in the most competitive time slots and demographic groups (prime time and
commercial target) suffered only a slight change, i.e. 31.4% compared to 31.6%.
As regards the radio business, according to data from the most recent survey by the General
Media Study (rolling year ended at the third survey of 2015), Atresmedia Radio obtained an
audience of EUR 4.6 million listeners. Of this total, Onda Cero has 2.4 million listeners and
continues to be the second ranked general interest radio station, while Europa FM with 2.0
million is the third ranked music radio station and Melodía FM reaches 230,000 listeners.
The Group's revenue amounted to EUR 925 million, compared to EUR 850 million in 2014.
Other operating income increased by 37% to EUR 46 million. Including this, the Group's total
income amounted to EUR 970 million, up 6.4% on 2014.
Operating expenses increased by 6.5% to total EUR 805 million. This increase came about as
a result of the aforementioned increase in the number of channels, the strengthening of the
programming of the main channels and the increase in expenses for items directly related to
revenue. Furthermore, in 2015 certain non-recurring expenses were incurred, primarily in
relation to the early recovery of the leased channel and the expense incurred as a result of
the request to discontinue the appeals made at the Supreme Court against the resolutions of
the Spanish Cabinet of 28 May and 11 June 2010, as detailed in Note 1 to the consolidated
financial statements for 2015.
Profit from operations amounted to EUR 144 million, compared to EUR 111 million in 2014.
Profit before tax stood at EUR 132 million, an increase of 38%.
Net profit amounted to EUR 99 million, up from EUR 47 million in 2014. It should be
remembered that in 2014, as a result of Income Tax Law 27/2014, of 27 November,
establishing new tax rates (28% in 2015 and 25% in 2016 and subsequent years), the Parent
made an extraordinary income tax adjustment amounting to EUR 33,135 thousand.
Significant events for the Group after the reporting period
There were no significant events between the reporting date and the date of formal
preparation of the Group's consolidated financial statements.
Outlook for the Group
The consensus of economic forecasts for 2016 and 2017 continues to be positive, with actual
GDP growth at around 2.7% for both years, similar figures for private consumer spending,