Telecinco has posted 2002 year-end net profits of Euros 85.9m, making it the only profitable broadcaster in Spain last year.
The network said it boasted the second highest audience share in Spain with 20.24% thanks to its in-house productions, and had earned the highest percentage locally of the advertising market: 27.3%.
"These results are even more noteworthy because they were achieved in such a complex environment," said Telecinco president Alejandro Echevarria. Among other factors, he pointed to the "exaggerated prices" of the majors and the legal obligation to invest 5% of its annual income in EU product as "defects in the audiovisual sector which need to be solved."
Telecinco shareholders include Mediaset, Grupo Correo, ICE Finance BV and Dresdner Bank (Kirch).