(Alliance News) - Caltagirone Editore Spa reported Thursday that it closed fiscal year 2023 with a profit of EUR16.2 million from EUR7.0 million in 2022.

The board of directors resolved to propose to the shareholders' meeting to distribute a dividend of EUR0.04 up from EUR0.03 in 2022.

Operating revenues amounted to EUR116.5 million from EUR118.0 million in the previous year, down 1.3 percent due to a decline in publishing revenues partially mitigated by growth in advertising and other publishing revenues.

EBITDA of EUR5.6 million, increased 26 percent from the figure as of Dec. 31, 2022 when it was EUR4.4 million.

Operating income was negative EUR1.6 million from a negative figure of EUR13.7 million as of Dec. 31, 2022.

Net financial position was EUR12.7 million, up from EUR58,000 as of Dec. 31, 2022, "mainly due to the collection of dividends on listed shares and the reclassification from noncurrent to current financial assets of Italian government bonds maturing within the year in the amount of EUR7.8 million, net of dividends paid in the amount of EUR3.2 million and net investments in listed shares and bonds in the amount of EUR8 million," the company states.

As for the future, the statement says, "the group continues initiatives to enhance multimedia versions and improve internet activities aimed at increasing new advertising flows and acquiring new readers. The group will also continue to implement measures aimed at containing all discretionary costs and structurally reducing direct and operating costs."

Caltagirone Editore's stock gives up 1.4 percent to EUR1.05 per share.

By Chiara Bruschi, Alliance News reporter

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