Rcs runs on the Stock Exchange in the wake of the quarterly.
The board of directors led by Urbano Cairo has approved the accounts for the first quarter of 2017, which closed with consolidated revenues of 213,4 million, down by 2,9% compared to the corresponding period of 2016, mainly due to the cessation of some advertising sales contracts on behalf of third party publishers.
On a like-for-like basis, net revenues in the first quarter of 2017 are substantially in line with 2016. Going into detail, advertising revenues amounted to 92,8 million (-4,7%), while publishing revenues amounted to 86,1 million (-9,1%).
Ebitda in the first three months of 2017 recorded an increase of 15,8 million, going from a negative result of 3,7 million in the first quarter of 2016 to a positive one of 12,1 million in the first three months of the current year. The change is mainly due to the strong commitment to cost reduction, which led to benefits of €14,8 million, of which €8,3 million in Italy and €6,5 million in Spain.
.The management closed with a loss of 5,7 million, a considerable improvement compared to that of 22 million in the same period of the previous year.
At the end of March 2017, the RCS group recorded net financial debt of 367,6 million, in line with that at the end of 2016, thanks to the contribution of 10 million from positive cash flows from ordinary operations which offset outlays for technical investments. Management has confirmed its targets for the full year 2017, including Ebitda of around 140 million and growing net income.
In Piazza Affari, half an hour after closing, the stock gained 2,84% to 1,45 euros, after hitting an intraday high with a new high price in the last 52 weeks at 1,485 euros.
