Caltagirone Editore: the Board of Directors approves

the results for first half of 2023

  • Revenues: Euro 55.9 million (Euro 55.8 million for first half of 2022)
  • Group net result: Euro 9.2 million (Euro 8.1 million for first half of 2022)

Rome, July 26th, 2023 - The Board of Directors of Caltagirone Editore, chaired by Mrs. Azzurra Caltagirone, examined and approved the results of the first half of 2023.

Performance of operations

In the first half of the 2023 financial Group's Revenues amounted to Euro 55.9 million in line with the same period of 2022. Group advertising revenue increased by 8.5%. The contribution of the internet sector to the total advertising turnover, including advertising carried out on behalf of third parties, increased by 21.1% and is now 29.4% of the total advertising turnover. The Total Audience (pc or mobile) of the Group's web sites recorded, in the period January - May 2023, 4.17 million unique average daily users with an improvement by 21.5% as of the same period 2022. Revenues from the sale of paper and digital copies decreased by 7.6%.

Costs amounted to Euro 55.4 million (Euro 56.1 million as of June 30th, 2022) and decreased by 1.2% on the first half of 2022. The cost of labor decrease by 2.6% and the decrease of the other operating costs by 3.7% compensated the increase of raw materials costs due to higher prices of paper. Cost of labor include non-recurring charges for Euro 397 thousand (Euro 583 thousand as of June 30th, 2022) related to activities carried out by some companies of the Group.

EBITDA was Euro 491 thousand (Euro -212 thousand as of June 30th, 2022).

EBIT recorded a loss of Euro 2.7 million (Euro -3.9 million in the first half 2022) and includes amortizations of Euro 3.1 million (Euro 3.2 million as of June 30th 2022), provisions of Euro 52 thousand (Euro 398 thousand as of June 30th 2022) and depreciations for Euro 36 thousand (Euro 164 thousand as of June 30th 2022).

Net income from financial operations, positive for Euro 10.8 million (Euro 11.2 million in the first half of 2022) includes Euro 11.2 million of dividends received on listed shares (Euro 12 million in the first half 2022).

Group net result is positive for Euro 9.2 million. In the first half of 2022 the result was of Euro 8.1 million.

The net financial position amounts to Euro 5.5 million (Euro 58 thousand as of December 31th, 2022) and is influenced by the receipt of dividends on listed shares net of investments in listed shares and private bonds and the distribution of Euro 3.2 million dividends.

Shareholders' equity amounts to Euro 419.5 million (Euro 385.3 million as of December 31th, 2022). The increase is due to the positive effect achieved during the semester in the fair value valuation of the equity investments held and the result of the period.

Forecasts for the current year

The Group will continue its initiatives to enhance the multimedia versions and improve internet activities in order to increase advertising flows and acquire new readers. The Group will continue to improve the containing of all discretionary costs and to reduce direct and operating costs.

***

The Executive responsible for the preparation of the corporate accounting documents, Luigi Vasta, declares in accordance with article 154 bis, paragraph 2, of the "Testo Unico della Finanza", that the accounting information contained in the present press release corresponds to the underlying documents, records and accounting entries

Attached the statutory balance sheets and income statement currently under review of the Board of Statutory Auditors and the Independent Auditors.

Media and Investor Relations

Tel. +39 06 45412365 - Fax +39 06 45412300

ufficiostampa@caltagironegroup.it

invrel@caltagironegroup.it

www.caltagironeeditore.com

CALTAGIRONE EDITORE GROUP CONSOLIDATED BALANCE SHEET

Assets

(in Euro thousands)

Non-current assets

Intangible assets with definite life Intangible assets with indefinite life

Newspaper titles

Property, plant and equipment

Equity investments and non-current securities Other non-current assets

Deferred tax assets

TOTAL NON-CURRENT ASSETS

Current assets

Inventories

Trade receivables

of which related parties

Current financial assets

Tax receivables

Other current assets

Cash and cash equivalents

TOTAL CURRENT ASSETS

TOTAL ASSETS

30.06.2023

441

91,803

91,803

42,275

263,952

142

55,015

453,628

2,651

32,105

79

17,933

207

1,956

8,690

63,542

517,170

31.12.2022

235

91,803

91,803

44,733

231,882

151

53,215

422,019

2,532

34,246

75

-

20

2,986

23,994

63,777

485,796

CALTAGIRONE EDITORE GROUP CONSOLIDATED BALANCE SHEET

SHAREHOLDERS' EQUITY AND LIABILITIES

(in Euro thousands)

Shareholders' Equity

Share capital

Share capital issue costs

Other reserves

Profit/(loss) for the year

Group shareholders' equity

TOTAL SHAREHOLDERS' EQUITY

LIABILITIES

Non-current liabilities

Employee provisions

Other non-current provisions

Non-current financial liabilities

of which related parties

Other non-current liabilities

Deferred tax liabilities

TOTAL NON-CURRENT LIABILITIES

Current liabilities

Current provisions

Trade payables

of which related parties

Current financial liabilities

of which related parties

Other current liabilities

of which related parties

TOTAL CURRENT LIABILITIES

TOTAL LIABILITIES

TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES

30.06.2023

125,000

(18,865)

304,188

9,213

419,536

419,536

10,466

210

10,456

9,195

1,228

18,787

41,147

8,519

18,166

626

10,664

3,183

19,138

33

56,487

97,634

517,170

31.12.2022

125,000

(18,865)

272,128

6,996

385,259

385,259

11,318

210

12,126

10,688

1,293

17,118

42,065

8,651

19,910

1,100

11,810

2,954

18,101

22

58,472

100,537

485,796

CALTAGIRONE EDITORE GROUP CONSOLIDATED INCOME STATEMENT

(in Euro thousands)

Revenues

Revenues from sales and supply of services

of which related parties

Other operating revenues

of which related parties

TOTAL REVENUES

Costs

Raw material costs

Personnel costs

of which restructuring charges

Other operating charges

of which related parties

TOTAL COSTS

EBITDA

Amortisation and depreciations

Leasing depreciations

Provisions

Other write-downs

Amortisation, depreciation, write-downs & provisions

EBIT

Financial income

Financial charges

of which related parties

Net financial result

PROFIT/(LOSS) BEFORE TAX

Income taxes for the period

PROFIT/(LOSS) FROM CONTINUING OPERATIONS NET PROFIT/(LOSS) FOR THE YEAR

Group net loss

Minority interest share

Earnings per share/Diluted earnings per share

1st Half 2023

53,389

111

2,494

23

55,883

(5,948)

(24,617)

(397)

(24,827)

(557)

(55,392)

491

(1,207)

(1,871)

(52)

(36)

(3,166)

(2,675)

11,575

(741)

(77)

10,834

8,159

1,054

9,213

9,213

9,213

-

0.086

1st Half 2022

53,067

127

2,789

35

55,856

(5,003)

(25,275)

(583)

(25,791)

(563)

(56,068)

(212)

(1,356)

(1,814)

(398)

(164)

(3,732)

(3,944)

12,031

(815)

(81)

11,217

7,273

856

8,129

8,129

8,129

-

0.076

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Caltagirone Editore S.p.A. published this content on 26 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2023 15:55:02 UTC.