Rcs MediaGroup returns to profit and the title celebrates on Piazza Affari with an increase of more than 4%. The publishing group, of which Urbano Cairo is the majority shareholder, president and managing director, closed 2016 with a positive result for 3,5 million, compared to losses of €175,7 million in 2015.
The board of directors examined and approved the results as at 31 December 2016. Revenues amounted to 968,3 million from 1.032,2 million in 2015. A positive and growing net result is now expected for 2017. Publishing revenue amounted to €380,4 million, down by €40,5 million compared to the period of 2015, which drops to €22,4 million on a like-for-like basis. "In terms of circulation, the leaders in the respective reference segments of the newspapers Corriere della Sera, La Gazzetta dello Sport, Marca and Expansion are confirmed, while El Mundo confirms its second position among the Spanish generalists", specifies the note issued by RCS.
The gross operating margin is positive for 89,9 million, an increase of 73 million compared to 16,4 million as at 31 December 2015.
Net debt also improved, falling to 366,1 million from 486,7 million at the end of 2015.
As regards the current year, the group expects a positive net cash flow and a gross operating margin (ebitda) of around 140 million. In the first two months of the year, RCS estimates that the gross operating margin has improved by 10 million compared to the same period last year.
The note issued by the company reads that “despite the difficult context, they were fully radded goals for 2016″.
The results of Urbano Cairo's group seem to have pleased the investors of Piazza Affari who, in the last session of the week, rewarded the title with a shower of purchases +4,08%.
