The first nine months of the year are archived Telecom Italia Media which closes with revenues down by 5,2% (-8,9 million) on an annual basis, at 160,7 million euros and with a net loss which, instead, stands at 53,8 million, clearly worsening compared to the loss of 14,9 million recorded in the first nine months of 2011.
It gets even worse the Ebitda margin, negative for 26,4 million against +27,1 million euro for the same period last year, which also included the indemnity of 20,5 million for the early termination of the Competence Center contract. Net financial debt rose to 224,1 million.
The company's negative performance, according to forecasts, should also continue in the fourth and last quarter, with a further deterioration compared to the results at the end of September.
The loss of income relating to the Competence Center activities and the contraction of MTV revenues, down by 13,5 million euros. On the other hand, the total gross advertising revenue of the La7 channels, up by 8,1 million, was partially offset.
The Telecom Italia Media group's EBIT at the end of September was negative by 72 million, against the negative of 16,3 million recorded in the same period of 2011.
Taking into account the La7 business alone, pro forma revenues in the first nine months of the year decreased by 8,9 million euros year-on-year, settling at 89 million euros. The daily audience share also fell, to 3,4% from 3,7% in the nine months of 2011.
After the publication of the results, Telecom Italia Media shares lost 0,28% in the afternoon to 0,1799 euros per share.
