Cofina, Sgps, S.A. Reports Unaudited Consolidated Financial Results for the Fourth Quarter and Full Year Ended Dec. 2017
March 07, 2018
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Cofina, SGPS, S.A. reported unaudited consolidated financial results for the fourth quarter and full year ended Dec. 2017. For the quarter, the company reported EBITDA of €4,427,000, EBIT of €4,300,000, income before taxes of €3,945,000, and net consolidated profit of €3,518,000 on operational revenues of €23,956,000 against EBITDA of €3,552,000, EBIT of €3,235,000, income before taxes of €519,000, and net consolidated profit of €792,000 on operational revenues of €25,886,000 for the same period of last year.
For the year, the company reported EBITDA of €13,621,000, EBIT of €9,660,000, income before taxes of €6,689,000, and net consolidated profit of €5,067,000 on operational revenues of €91,058,000 against EBITDA of €13,512,000, EBIT of €11,298,000, income before taxes of €6,096,000, and net consolidated profit of €4,333,000 on operational revenues of €99,926,000 for the same period of last year. As of 31 December 2017, Cofina's nominal net debt was €49.6 million, which represents a decrease of €8 million when compared to the nominal net debt of €57.6 million, recorded in the end of 2016. Consolidated EBITDA after restructuring was €11,171,000 against €13,512,000 for the same period of last year.
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%).