It hadn't happened since 2008. RCS closed the first half of 2017 with a profit. In detail, in the first six months of the current year, the group chaired by Urbano Cairo recorded a net profit of 24 million euros, a clear increase compared to 2,1 in the red in the same period of the previous year.
However, revenues were down, down by 32,4 million compared to the first six months of 2017 and reaching 471,7 million due, explains the company, to the termination of some advertising sales contracts on behalf of third-party publishers, for the different editorial plan for add-ons, due to the review of the promotional policy in Spain and due to the decline in the circulation market. On a like-for-like basis, the decrease in net revenues in the first half of 2017 is reduced to approximately 10 million.
EBITDA doubled to 69 million thanks to cost reductions, while EBIT grew from 37,7 million in the first half of 2016 to 44 million in the six months ended June 30th. Net financial debt at the end of the period was equal to 363,2 million, in line with that reported at the end of last December.
The group confirms the result targets for 2017, including an ebitda of around 140 million, a growing net result and positive and growing cash flows.
"In the absence of currently unforeseeable events, the result targets for 2017 are therefore confirmed, including an ebitda of approximately 140 million, and a growing net result as well as cash flows", declared the company.
In Piazza Affari, the Rcs share gained 2,95% to 1,292 euros.
