Board of Directors approves results at 31 March 2012
10 Maggio 2012 - 8:00PM
Annunci Borsa (Testo)
Caltagirone Editore: Board of Directors approves results at 31
March 2012
· · · · · Revenues: Euro 51.7 million (Euro 55.1 million as of
March 31st 2011) Ebitda: negative Euro 446 thousands (positive Euro
1.9 million as of March 31st 2011) Ebit: negative Euro 3.1 million
(negative Euro 1.1 million as of March 31st 2011) Group net pretax
profit: negative Euro 3.9 million (negative Euro 790 thousands as
of March 31st 2011) Francesco Gaetano Caltagirone confirmed as
company's Chairman.
Rome, May 10th 2012 Â The Board of Directors of Caltagirone
Editore, chaired by Francesco Gaetano Caltagirone, approved results
for the first quarter 2012. Caltagirone Editore Group ended the
first quarter 2012 with results which continue to reflect the deep
economic crisis, with the advertising market being particularly
affected. Revenues amounted to Euro 51.7 million, a 6.2% decrease
compared to the corresponding period of 2011,principally due to
both contraction on circulation revenues (-2.8%) and advertising
revenues (-9%). About the circulation revenues the Group, at the
moment, has not raised its newspapers cover price like almost all
of its competitors. About the advertising revenues performance,
there is a general decline of advertising expenditure on
traditional newspapers and even more so on the Free Press segment.
Internet advertising revenues showed an positive trend, even if
they are still not large enough to impact significantly on total
advertising revenues, recording a +11.8% increase compared to 2011,
well above sector average which in the same period recorded a +8,5%
increase (Osservatorio FCP Internet, January-March 2012). Ebitda:
negative Euro 446 thousands (Euro 1.9 million as of March 31st
2011). Such figure, due to the revenues decline, was only partially
offset by the 2.1% reduction in operating costs. Ebit was negative
Euro 3.1 million (negative Euro 1.1 million as of March 31st 2011)
after Euro 2.7 million of amortization and depreciation charge. Net
financial results was negative Euro 978 thousands (Euro 58
thousands as of March 31st 2011), including 1.3 million charge from
disposal of quoted stakes. Group net pretax profit was negative
euro 3.9 million (negative Euro790 thousands as of March 31st
2011). Net cash position at March 31st 2012 was Euro 168.7 million
compared to Euro 180.9 million as of December 31st 2011. The
decrease is due to net of investments in listed companies.
Shareholders equity reached 721.1 million (Euro 720.4 million at
December 31st, 2011) thanks to the valuation at fair value of
equity investments held by the Group, net of loss.
Outlook The publishing sector is affected by significant
uncertainty due to the persistent economic crisis which is heavily
impacting advertising expenditure. Against such backdrop, the Group
is keeping a strict cost control policy and it is now proceeding to
strengthen its presence on the internet with the objective of
attracting new advertising investment and new readers. *** The
Board of Directors, gathered for the first time after its
appointment by the AGM on April 26th , renewed corporate offices
before examining Q1 results. In particular, the Board confirmed
Francesco Gaetano Caltagirone as Chairman, Azzurra Caltagirone and
Gaetano Caltagirone as Vice Chairman. The Board of Directors also
elected the new Internal Control Committee for the period
2012-2014, which shall be composed by Massimo Confortini
(Chairman), Giampietro Nattino, Albino Majore, Mario Delfini and
Massimo Garzilli. The Board of Directors also confirmed, for 2012,
Rag. Roberto di Muzio as Executive responsible for the preparation
of the corporate accounting documents. The Board of Director after
valued that Directors Giampietro Nattino and Massimo Confortini
fulfill the requirements of independence pursuant to the current
legislation and appointed them as members of Committee of
Independent Directors to value related parties transactions. ***
The Executive responsible for the preparation of the corporate
accounting documents, Roberto Di Muzio, declares in accordance with
article 154 bis, paragraph 2, of the "Testo Unico della Finanza",
that the accounting information contained in the present press
release corresponds to the underlying documents, records and
accounting entries.
Consolidated P&L statement at March 31st , 2012 is
attached.
Relazioni con i Media Tel. +39 06 45412365 Fax +39 06 45412300
ufficiostampa@caltagironegroup.it
www.caltagironeeditore.it
Investor Relations Tel. +39 06 32493227 Fax +39 06 32403277
invrel@caltagironegroup.it
CALTAGIRONE EDITORE GROUP Consolidated Income Statement
In Euro thousands
Q1 2012 18.312 189 30.763 2.451 51.715 (7.053) (23.487) (21.621)
(52.161) (446) (2.672) (3.118) (1) (978) (4.097) (3.922) (175)
Q1 2011 18.846 137 33.802 2.360 55.145 (6.315) (23.731) (23.224)
(53.270) 1.875 (2.932) (1.057) (1) 58 (1.000) (790) (210)
% -2,8% 38,0% -9,0% 3,9% -6,2% 11,7% -1,0% -6,9% -2,1% na -8,9% na
0,0% n.a. n.a n.a. -16,7%
Circulation revenues Promotions revenues Advertising revenues Other
operating revenues TOTAL OPERATING REVENUES Raw materials costs
Labour costs Other operating costs TOTAL OPERATING COSTS EBITDA
Amortisation,depreciation & provisions EBIT Net result of the
share of associates Net financial income/(charges) Profit/(Loss)
before taxes Group Net Income (Loss) Minority interest
share
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