The first nine months of 2012 closed with a decline for the L'Espresso group. And "the first signs relating to the fourth quarter of the year, and particularly concerning advertising revenues, do not allow us to glimpse any improvement", notes the group in the press release on the results. But he confirms the forecast of a result in profit also for the entire year, "albeit a significant reduction compared to 2011".
As regards the accounts as at 30 September 2012, the consolidated net profit stands at 26,4 million euro, down by 36,2. The gross operating margin fell by 26,1% to 82,8 million. Approximately half of the decrease is attributable to the reduction in the margin of add-on products and the remainder derives from the press and radio activities, affected by the contraction in advertising revenues. On the other hand, the results of the internet improved, thanks to the growth in revenues, and of television, due to the greater bandwidth rental activity.
Net revenues also decreased by 9,1% to 594 million. More moderate decrease, of 3%, for circulation revenues, excluding add-on products, which amounted to 199,3 million. The decline, notes the group, "can be considered substantially contained in relation to a market context characterized by a significant reduction in consumption and the progressive decline of printed paper". Advertising revenues down 10,1% to 342,4 million. Net financial debt as at 30 September 2012 amounted to 105,1 million compared to 112,4 million in September 2011.
