RCS's accounts for the first half of the year show a clearly negative sign, the group losing 19,5 million euros. This is nearly double the loss from the same period last year, when the publishing firm posted liabilities of $9,8 million. Consolidated net revenues also decreased slightly, from 1,045 to 1,029 billion, mainly attributable to the decline in circulation profits of "Newspapers Spain" and the "partworks" sector.
As far as profitability is concerned, the group's press release announces the group's expectations for an Ebitda before non-recurring charges at least in line with last year. In the past six months - as reported in the data presented by the company - the value of the indicator reached 56,5 million, against 69,8 million in the same period of 2010. Rcs also announces that it has decided on new savings of 50 million compared to the 2011-2013 three-year plan and does not exclude further revisions to the perimeter of the group.
On the shareholding front, Diego Della Valle's attempt to increase his weight in the company that publishes Corriere della Sera, to the point of possibly becoming its first shareholder, has led to nothing. His proposal to reduce the weight of the pact from 63,5 to 51% of the capital met with the hostility of Giovanni Bazoli and Giampiero Pesenti and was rejected.
Green light from the Rcs Mediagroup board of directors for the merger by incorporation of Italian companies wholly owned directly and indirectly. The board of directors - stated the publishing group after the approval of the half-yearly results - also authorized the merger by incorporation "of Rcs Quotidiani (with Rcs Digital and Trovocasa, Rcs Periodici) with Editrice Abitare Segesta, Pubblibaby, Rcs Direct, Rizzoli Publishing Italia and Sfera Editore, and Rcs Pubblicità”.
Approved the transfer of the registered office from via San Marco to via Rizzoli, in Milan. On the stock exchange, the stock fell to 1,02 at the lows of the session, dropping almost two percentage points compared to the average of 1% losses in the FTITLMS market.
