The Cir group halves its profit in the first 9 months of 2014 compared to the same period of the previous year. In fact, net profits are down (from 10,7 million in 2013 excluding non-recurring items to 5,4 million this year) and revenues are also down: in the first nine months of 2014 they amounted to 1.776,6 million (-1,5, 1.804,5% compared to 2013 million in the corresponding period of 4,7). The slight reduction is attributable to the lower revenues of the Espresso group, penalized by the complex situation of the publishing sector and by the still critical trend of the economy, which caused a further reduction in advertising investments. Sogefi presents stable revenues while KOS records a growth of XNUMX%.
Ebitda, on the other hand, amounted to 154,1 million (8,7% of revenues), up 9,5% compared to the figure for the first nine months of 2013 (140,7 million). The growth is mainly due to the improvement in the margin of the parent company CIR SpA, which in 2013 had incurred non-recurring expenses related to the Lodo Mondadori, and to the slight increase in profitability recorded by Espresso and KOS. These factors more than offset the decline in margins recorded by Sogefi.
On a difficult day for Piazza Affari, the Cir stock also performs poorly: at the beginning of the afternoon it lost 4,68% 0,795 euro.
