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GRUPPO MEDIASET PRESS RELEASE Mediaset Board of Directors ' Meeting 11 May 2021 BOARD APPROVES RESULTS FOR FIRST QUARTER 2021 : SIGNIFICANT INCREASE IN KEY INDICATORS IN A STILL DECIDEDLY UNCERTAIN CONTEXT DUE TO THE ONGOING COVID EMERGENCY , MEDIASET HAS BEEN ABLE TO GROW ITS AUDIENCE AND GENERATE A NET PROFIT HIGHER THAN IN THE FIRST QUARTERS OF BOTH 2020 AND 2019 MARKED RECOVERY IN ADVERTISING SALES WITH A DECISIVE UPTURN IN APRIL BOTH IN ITALY AND SPAIN Mediaset Group Highlights Net revenues : € 634.2 million Total costs : € 566.3 million ( - € 74.3 million , or -11.6 % ) Operating profit ( EBIT ) : € 67.9 million Net profit : € 52.5 million TV ratings : thanks to a strong programming response , leadership in the commercial target in both Italy and Spain , despite a marked reduction in costs The Board of Directors of Mediaset , which met under the Chairmanship of Fedele Confalonieri , has approved the interim report for the first quarter of 2021 . Despite a general context still strongly conditioned by the covid emergency , the Mediaset Group saw a significant increase in its results compared with the same period of the previous year , with a level of consolidated net profit higher not only than in the first quarter of 2020 but also the same period of 2019 , in addition to maintaining a strong level cash generation . These results were impacted by a better - than - expected rise in advertising revenues in Italy , which were up by + 6.1 % in the first quarter of the year compared with the same period of 2020 ( which was affected by the Covid effect only in March ) : making this the third consecutive quarter with growing advertising sales . Meanwhile in Spain , the advertising market has been less brilliant , particularly in the first two months , although the first signs of recovery were seen in March . Finally , decisive action to control costs has resulted in lower overall expenditure than in both the first quarter of 2020 and the same period of 2019 . The main results in the first three months of 2021 can be summarised as follows : • Net revenues amounted to € 634.2 million , compared with € 682.1 million in the first quarter of 2020. In particular , revenues in Italy came to € 450.2 million compared with € 452.4 million in the same period last year . In Spain , revenues amounted to € 184.0 million compared with € 229.8 million in 2020 .