IMPRESA's EBITDA reached €4.2m, in a semester marked by the cyber-attack on the Group, the war in Ukraine and the impact of inflationary pressures
Net debt decreased €14m relative to the first half of 2021
Advertising revenues increased 1.3%
SIC maintained audience leadership with a share of 17.8%
Expresso is the publication in Portugal with the largest paid circulation per edition
1. HALF-YEARLY HIGHLIGHTS
IMPRESA recorded a net loss of €2.2m, representing a decrease when compared to the €3.3 m of positive net income in the same period of 2021.
The Group's EBITDA exceeded €4.2m, which translates into a 62% reduction in comparison to the first half of 2021.
The Group's total revenues reached €88.2m, reflecting a decrease of 4% relative to the first half of 2021. Advertising revenues, representing the largest portion of IMPRESA's income, grew 1.3%.
Operating costs increased 3.6%, mainly from increased production and energy costs, coverage of the war in Ukraine, and the response to the cyber-attack suffered in January 2022.
The net remunerated debt of IMPRESA fell about €14.2m year-on-year, to €140.2m.
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1.1. IMPRESA Brands
SIC maintained audience leadership in the first half of 2022, in the universe of generalist channels, with an average share of 17.8% in terms of consolidated data.
SIC generalist and thematic channels, as a whole, closed the first half of the year with a market share of 21.6% and leading in the commercial targets - A/B C D 15/54 and A/B C D 25/54.
SIC represented 49.6% of the market share of advertising investment among generalist channels.
In terms of half-yearly performance, SIC's websites obtained the highest ever monthly average, with a reach of more than 3.2 million Unique Visitors.
OPTO premiered, among other contents, the series "Vanda" and "Futre".
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EXPRESSO continued to be the best- selling newspaper in Portugal, with an average of 96 thousand copies sold, according to data from the APCT, with reference to the period covering January to March 2022.
Between January and March 2022, the paid digital circulation of EXPRESSO was 44 thousand copies per edition.
The universe of websites of the EXPRESSO brand registered an average monthly reach of over 2.5 million Unique Visitors, with reference to the period from January to June 2022.
In the first half of 2022, the IMPRESA Group launched 4 podcasts, with particular reference to "Deixar o Mundo Melhor", by
Francisco Pinto Balsemão, which marks the celebration of the 50th anniversary of Jornal EXPRESSO, and in which the founder and first director of the newspaper interviews 50 personalities from the most diverse sectors of society.
FIRST HALF 2022
RESULTS
2. CONSOLIDATED ACCOUNTS
2.1. Income Statement
(values in Euros)
1st Half 22
1st Half 21
var %
Total Revenues
88 179 164
91 999 861
-4.2%
Television
77 029 239
80 022 094
-3.7%
Publishing
10 576 013
11 193 781
-5.5%
Infoportugal
648 293
897 391
-27.8%
Intersegments & Others
-74 382
-113 405
34.4%
Operating Costs (1)
84 011 873
81 126 201
3.6%
Total EBITDA
4 167 291
10 873 660
-61.7%
EBITDA Margin
4.7%
11.8%
Television
5 090 050
9 997 486
-49.1%
Publishing
442 978
1 544 599
-71.3%
Infoportugal & Others
-1 334 538
-668 423
-99.7%
Total EBITDA (2)
4 236 832
10 884 562
-61.1%
EBITDA Margin (2)
4.8%
11.8%
Depreciation
2 415 423
2 546 190
-5.1%
EBIT
1 751 868
8 327 470
-79.0%
EBIT Margin
2.0%
9.1%
Financial Results
-4 194 602
-3 453 433
-21.5%
Provisions
171 000
171 000
0.0%
Res. Bef Taxes & Minorities
-2 613 735
4 703 037
n.a.
Income Tax (IRC)(-)
-455 907
1 359 280
n.a.
Net Income
-2 157 827
3 343 757
n.a.
Notes:
EBITDA = Operating Results + Amortisation and Depreciation + Provisions + Impairment in non-current assets.
Does not consider Amortisation and Depreciation, Provisions and Impairment Losses in non-current assets.
EBITDA adjusted for restructuring costs.
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Impresa SGPS SA published this content on 28 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2022 15:56:06 UTC.
Impresa, SGPS, S.A. is Portugal's leading communications group. Net sales break down by activity as follows:
- operation of TV channels (82.2%): 8 channels operated (SIC, SIC Internacional, SIC News, SIC Radical, SIC Mulher, SIC K, SIC Caras et Txillo) at the end of 2021. The group also offers an activity of streaming exclusive content by subscription (OPTO) and operation of a sports content portal (ADVNCE);
- publishing of newspapers and magazines (12.5%): weekly newspapers Expresso, Blitz, Boa Cama Boa Mesa, Tribuna, etc.;
- other (5.3%): primarily publishing and distribution of multimedia and digital content (operating primarily through the portals Olhares and InfoPortugal).
Net sales break down primarily by source of income into sales of advertising space (65.4%), sales of TV subscriptions (16.8%) and sales of newspapers and magazines, individually or by subscription (5.4%).
Portugal accounts for 95.9% of net sales.
IMPRESA, SGPS, S.A. 
