Telecom Italia Media closes the first nine months of 2013 with a loss of 128,1 million euros, up on the -53,8 million in the same period of 2012. "This result - explains the company - includes the value of discontinued operations linked to the sale of La7 and the sale of MTV Italia".
Revenues amounted to 56,5 million euros, +0,2 million euros compared to the first nine months of 2012 (56,3 million euros). Ebitda was 26 million euros, -2,8 million euros compared to the first nine months of 2012 (28,8 million euros). Ebit closed at 4,7 million euros, -4,2 million euros compared to the first nine months of 2012 (8,9 million euros) Net financial debt decreased to 273,1 million euros ( 260,1 million euros at the end of 2012), down by 12,2 million euros compared to 30 June 2013.
“Our current industrial structure – commented the chairman Saverio Salvemini – allows us to focus better on the network operator Timb which confirms good results and the ability to renew itself and enrich the offer of services to its customers. Furthermore, our commitment continues in the study of possible industrial initiatives that lead to a greater valorisation of the assets and to create further value for the Telecom Italia Media group”.
In the near future, after the sale of the television activities of La7 and La7d, completed on April 30, 2013, and the sale of MTV, completed on September 12, 2013, the Telecom Italia Media group intends to implement "initiatives that bring the Group back to efficiency and profitability".
For 2013, the company expects to maintain the current level of bandwidth usage (about 98%) of the Timb network operator "with the aim of consolidating its customer base, increasing the offer of additional services while maintaining a careful cost control and reducing investments following the completion of the digitization plan". We assume a positive Ebitda for the period 2014-2016, a positive cash flow from 2014 and a decrease in net financial debt from 2014.
