RCS MediaGroup S.p.A Reports Consolidated Interim Management Statement for the Third Quarter and Nine Months Ended September 30, 2013; Provides Earnings Guidance for 2013
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.