Arnoldo Mondadori Editore SpA Announces Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016; Provides Earnings Guidance for the Year 2016
July 27, 2016
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Arnoldo Mondadori Editore SpA announced consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company announced revenues amounted to EUR 307.8 million against EUR 268.8 million a year ago. Adjusted EBITDA was EUR 16.5 million against EUR 15.0 million a year ago. EBITDA was EUR 14.0 million against EUR 12.0 million a year ago. EBIT was EUR 5.4 million against EUR 7.1 million a year ago. Result before taxes for the period was EUR 1.1 million against EUR 3.0 million a year ago. Loss from continuing operations was EUR 2.0 million against profit of EUR 0.3 million a year ago. Net loss was EUR 2.0 against EUR 7.5 million a year ago.
For the six months, the company announced revenues amounted to EUR 562.6 million against EUR 518.0 million a year ago. Adjusted EBITDA was EUR 26.7 million against EUR 23.8 million a year ago. This performance was the result of a constant and focused management policy successfully implemented in all of the Group's business areas. EBITDA was EUR 22.5 million against EUR 19.0 million a year ago. On a like-for-like basis, the increase amounts to 24%: a result that confirms the Group's strong efficiency gains from its ability to stabilize revenue and the industrial and organizational review actions launched and implemented over the past two years.EBIT was EUR 8.5 million against EUR 9.2 million a year ago. Result before taxes for the period was EUR 0.6 million against EUR 0.6 million a year ago. Loss from continuing operations was EUR 3.8 million against EUR 3.4 million a year ago. Net loss was EUR 3.8 against EUR 12.2 million a year ago. Cash flow used in ordinary operations was EUR 26.1 million against EUR 23.5 million a year ago.
Including the effects of the consolidation of Rizzoli Libri (for 9 months) and of Banzai Media (for 7 months), revenue is expected to grow by approximately 14% versus 2015, while adjusted EBITDA is expected to increase by approximately 30%. The net financial position is expected to increase versus the figure at 31 December 2015, with a NFP/EBITDA ratio of about 3.5x, lower than the bank covenant of 4.5x.
Arnoldo Mondadori Editore SpA is an Italy-based company engaged in the publishing industry, the Company is active in six sectors. Through the Books sector, it is active in the publishing of books, management of museum concessions and organization and management of exhibitions and cultural events. The Periodicals sector includes the publishing of magazines in Italy and France, and distribution of third party newspapers and journals. Through the Advertising, it manages the sale of advertising spaces in magazines, Websites and radio channels. The Digital comprises development of the Companyâs assets, such as brands, content and authors, through technology, Websites and online platforms, as well as the search for opportunities in the digital market sector. The Direct is active retail and direct marketing, through book stores, media stores, newsstands and book clubs. The Radio sector is engaged in the national radio broadcasting. It operates through Anobii Ltd and Gruner+Jahr/Mondadori SpA.
Arnoldo Mondadori Editore SpA Announces Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016; Provides Earnings Guidance for the Year 2016
ARNOLDO MONDADORI EDITORE S.P.A. 
