Cofina SGPS, S.A. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017
November 02, 2017
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Cofina SGPS, S.A. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the nine months, the company reported sales of EUR 35,059,356 compared with EUR 39,319,984 for the same period a year ago. Profit before income tax was EUR 2,743,980 compared with EUR 5,576,586 for the same period a year ago. Net profit attributable to shareholders of the parent company was EUR 1,549,120 compared with EUR 3,561,016 for the same period a year ago. Operational revenues were EUR 67,102,000 compared with EUR 74,040,000 for the same period a year ago. Consolidated EBITDA was EUR 9,194,000 compared with EUR 9,960,000 for the same period a year ago. EBIT was EUR 5,360,000 compared with EUR 8,063,000 for the same period a year ago. As of September 30, 2017, the company's nominal net debt amounted to EUR 53.3 million, which represents a decrease of EUR 2.7 million comparing to the net debt of EUR 56 million recorded in the end of June
2017.
For the quarter, the company reported sales of EUR 12,249,746 compared with EUR 13,990,987 for the same period a year ago. Profit before income tax was EUR 1,525,600 compared with EUR 1,988,591 for the same period a year ago. Net profit attributable to shareholders of the parent company was EUR 831,493 compared with EUR 1,220,863 for the same period a year ago. Operational revenues were EUR 23,111,000 compared with EUR 25,569,000 for the same period a year ago. Consolidated EBITDA was EUR 3,571,000 compared with EUR 3,519,000 for the same period a year ago. EBIT was EUR 2,660,000 compared with EUR 2,887,000 for the same period a year ago.
Cofina, SGPS, S.A. specializes in the publishing of newspapers and magazines in the areas of economics (Jornal de Negócios), sports (Record), general culture (Correio da Manhà, Sábado), IT (PC Guia, Semana Informatica) and other (Maxima, Vogue, Automotor, TV Guia, Rotas & Destinos, etc.). Net sales break down by activity as follows:
- publishing of newspapers and magazines (73.3%);
- operation of TV channels (26.7%): owned the channel cmTV.
Net sales break down by source of income into sales of newspapers and magazines (38.9%), sales of advertising spaces (37%) and other (24.1%).