The RCS group closed 2015 with results in line with forecasts: revenues of 1.032 million euros (-3% on the year), positive Ebitda before non-recurring expenses of 71,8 million (against 60,7 in 2014), equal to 7% of total revenues, and debt below 500 million euros, at 487 million (compared to 482,5 at the end of 2014).
Yesterday the BoD also approved the budget for 2016, confirming the objectives of the first year of the Plan announced last December: net result in slight profit, stable revenues compared to 2015, net efficiencies of 40-45 million, EBITDA margin before non-expenses recurring 10%. No capital increase is planned.
Furthermore, the Board was updated on the negotiation with the banks to redefine the conditions of the loan, "which proceeds according to the methods and timing envisaged - explains Rcs -, with the aim of reaching an agreement during the month of March".
Again according to the preliminary data examined today by the board, the publishing group specifies that since last September's interim report, revenues and Ebitda no longer include the results of the Books Area.
Rcs' circulation revenues during the year amounted to 421 million, down by 25 million on 2014, mainly due to the performance of the Spanish market, advertising revenues amounted to 475 million, down 3,1%, a comparison, explains the note by RCS, penalized by the positive effect of the special initiatives and the World Cup in 2014, excluding which - net of revenues linked to Expo - the drop would amount to 2%.
In the fourth quarter, the drop in advertising revenues was more contained than in the previous quarters, settling at -1,2%. Other publishing revenues show growth of 8 million euros linked to the success of RCS Sport initiatives, settling at 136 million.
Finally, yesterday the group announced that 26 days after the launch of the Corriere's new digital offer, subscribers have exceeded 26.
