Deep red in Rai's accounts for the first nine months of the year, but there is no shortage of positive signs. Not so much for the Net income, which is down, compared to September 2011, by 218,2 million euros (the red is 184,5 million), as much as for the dynamics underlying the various items of the income statement, which is affected by the advertising contraction but presents the first signs of rebalancing.
The net result in the first nine months is the result of a contraction of gross operating margin (-202,8 million, to 312,2 million), del Operating income (-163,5 million), which in September 2011 amounted to +76 million, and the result before taxand, in liabilities for 170 million.
In detail, i external costs overall grow by 61,1 million, settling at 984,7, but the increase is attributable to theonerousness of rights for major sporting events (especially the London Olympics) which weighed on external costs by as much as 143 million. Excluding the latter, the Gubitosi management can already boast a significant one reduction of “ordinary” external costs, equal to 82 million.
Il staff Price, on the other hand, presents an increase of 7,4 million (760,9 the total), given that it masks the commitment of the new management to stabilize the item, adopting a "rigorous turnover policy and the substantial blocking of remuneration policies and the bonus system".
Revenues (2039 million) are affected by the strong decrease in advertising revenue (-114,3 million compared to 30 September 2011), and other revenues, mainly commercial, down by 57,4 million. The reduction in advertising revenues derives "both from a loss of the Group's advertising market share and from the contraction of the overall advertising market", down by 10,9% compared to 2011 in the television sector alone, in which – however – above all Mediaset to show the strongest decline (-1,8% against -1,4% for Viale Mazzini), despite Silvio Berlusconi's group taking the lion's share, with a market share of 61%, compared to 22,8% of public television.
In an e-mail sent to employees - a decidedly innovative practice in Viale Mazzini - DG Gubitosi expects accounts in the red for 2012 for around 200 million, as already hypothesized in previous communications, however showing himself "encouraged by the signs of reaction" detectable in the company . "Linear but targeted cuts will not be envisaged: the inefficient and superfluous will be cut and more will be invested where necessary for development, identifying the actions that will lead us towards a balance".
The management, in this case, expects to complete the process of digitization of information, starting with TG2 by the end of the year, while "the other titles will follow suit". Changes are also expected on the foreign front, with a new presence in Brazil, while they will be relaunched RaiWorld and Research Center (with new appropriations).
As for personnel, the "stabilization will continue in the coming years in line with union agreements".
It also focuses on reduction of outsourcing, bringing back production processes to be made, however, more flexible.
