Mondadori closed 2014 with a return to profit, at 0,6 million, compared to the net loss recorded the previous year, which had amounted to 185 million. At the beginning of the afternoon in Piazza Affari, the share was traveling on a gain of over 4%, at 1,086 euros per share.
Consolidated revenues fell to 1,177 billion, down by 7,7% on 2013 (-4,6% on a like-for-like basis). Consolidated EBITDA returned positive to 67,1 million (+79,9 million compared to 2013). The net financial position is negative by 291,8 million, an improvement compared to -363,2 million at the end of 2013.
In 2014 the operating cash flow was 47,2 million (-28,7 million as at 31 December 2013) while the cash flow deriving from ordinary activities (after payment of financial charges and taxes for the period) amounted to 18,8 million (compared to a negative figure of 64,1 million in 2013) due to the recovery of profitability and management optimization of working capital.
Considering the various business areas, the revenues of the Books Area amounted to 336,6 million, up by 0,7%, while the Magazines Italy recorded revenues of 297 million, down by 8,9% and the Magazines France for 340,9 million (-3,7%).
The area Retail saw revenues of 211,2 million (-6,1%) and Radio reported revenues of 11,7 million, up 3,3% due to the launch of R101 TV in June, aimed at offering a broader entertainment system with a view to integration with the radio. Finally, the total revenues of purely digital activities, aimed at a wider valorisation of the group's editorial contents, grew by 13% compared to 2013, for a total weight equal to 4,3% of the total revenues of the group (3,9 .2013% in XNUMX).
THEBooks area instead it confirmed its leadership in Italy in 214 with one 26,5% share of the trade market, with revenues that amounted to 336,6 million, up by 0,7% compared to 2013 due to the positive performance of the Educational area (+1,6%) and the activities relating to the distribution of books on behalf of third-party publishers, despite the decline recorded by trade products.
In 2014, the EBITDA of the Books area was 45,1 million, down by 2,4%, with an overall margin of 13% of revenues.
In particular, against an increase in profitability in absolute and percentage terms of theeducational area, a decrease was recorded in the Trade sector linked to the contraction in revenues deriving from a different editorial programming (the launch of the most significant component of the editorial program in the second half did not in any case make it possible to recover what was lost in the first six months), as well as from a different mix of revenues deriving from the significant increase in the distribution activity for third party publishers characterized by lower percentage profitability.
