COFINA : SGPS, S.A. informs about Report and Accounts for the First Half of 2017
August 31, 2017 at 02:43 pm EDT
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REPORT AND ACCOUNTS
30 June 2017
REPORT AND ACCOUNTS 1H 2017
(This is a translation of a document originally issued in Portuguese.
In the event of discrepancies, the Portuguese language version prevails - Note 16)
TABLE OF CONTENTS
INTRODUCTION 3
STOCK EXCHANGE EVOLUTION 4
COMPANY ACTIVITY 6
FINANCIAL REVIEW 7
OUTLOOK 10
CORPORATE GOVERNANCE 11
LEGAL MATTERS 12
CLOSING REMARKS 14
STATEMENT UNDER ARTICLE 246, 1, C) OF THE SECURITIES CODE 15
DECLARATION OF RESPONSIBILITY 16
ARTICLE 447 OF THE COMMERCIAL COMPANIES CODE AND ARTICLE 14, PARAGRAPH 7, OF PORTUGUESE SECURITIES REGULATOR (CMVM) REGULATION NO. 5/2008 17
MANAGEMENT REPORT
30 JUNE 2017
REPORT AND ACCOUNTS 1H2017
I. Management Report
To the Shareholders
Pursuant to the legal requirements, the Board of Directors of Cofina, SGPS., S.A. (Public Company) hereby presents its Report and Accounts for the first semester of 2017.
INTRODUCTION
The year 2017 has turned out to be a difficult year for circulation and advertising revenues, counteracting the recovery trend that seemed to be a possibility in 2016.
Despite the extremely adverse scenario, the Group continued to maintain leadership of its main products in terms of market share.
Cofina SGPS SA published this content on 31 August 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 31 August 2017 18:42:04 UTC.
Original documenthttp://www.cofina.pt/~/media/Files/C/Cofina/press/releases/2017press/COFINA1H2017EN.pdf
Public permalinkhttp://www.publicnow.com/view/B97DB2E3748FA4A19A62709525905D11D04A4B1A
Cofina, SGPS, S.A. specializes in the publishing of newspapers and magazines in the areas of economics (Jornal de Negócios), sports (Record), general culture (Correio da Manhà, Sábado), IT (PC Guia, Semana Informatica) and other (Maxima, Vogue, Automotor, TV Guia, Rotas & Destinos, etc.). Net sales break down by activity as follows:
- publishing of newspapers and magazines (73.3%);
- operation of TV channels (26.7%): owned the channel cmTV.
Net sales break down by source of income into sales of newspapers and magazines (38.9%), sales of advertising spaces (37%) and other (24.1%).