RCS MediaGroup S.p. A reported consolidated interim management statement for the third quarter and nine months ended September 30, 2013. For the nine months, the company reported net revenue of EUR 965.4 million compared to EUR 1,119.4 million reported a year ago. The change of EUR 154 million is due to the performance of the reference markets, which has significantly impacted advertising revenue and circulation revenue. LBITDA was EUR 121.6 million compared to EUR 30.4 million reported a year ago. LBIT was EUR 178.3 million compared to EUR 400.8 million reported a year ago. LBT was EUR 206.5 million compared to EUR 442.2 million reported a year ago. Loss from continuing operations was EUR 167.9 million compared to EUR 466.7 million reported a year ago. Loss before non-controlling interests was EUR 176.8 million compared to EUR 384.8 million reported a year ago. The group's loss was EUR 175.3 million compared to EUR 380.5 million reported a year ago. Net financial debt was at EUR 547.4 million compared to EUR 845.8 million at 31 December 2012. LBITDA before non-recurring income and expense was EUR 21.3 million compared to EBITDA of EUR 12.6 million reported a year ago. The lower advertising revenues were only partially offset by the efficiency measures.

Net revenues for the third quarter came to EUR 317.5 million compared to EUR 363 million in the third quarter of 2012. EBITDA before non-recurring income and expense was positive by EUR 7.3 million, up EUR 6.7 million over the third quarter of 2012.

For 2013, the company's revenues are expected to decrease by about 12% on the previous year, while confirming a positive EBITDA before non-recurring items less than 3% of revenues as a result of cost-cutting measures. Therefore, as things stand, also due to the expense for the restructuring process currently underway, a loss is expected for the year which will essentially not deviate from Plan forecasts.