RCS MediaGroup S.p.A. reported consolidated earnings results for the six months ended June 30, 2017. For the period, net revenue was EUR 471.7 million against EUR 504.1 million a year ago. EBITDA was EUR 69.0 million against EUR 33.9 million a year ago. EBIT was EUR 44.0 million against EUR 6.3 million a year ago. EBIT was EUR 32.2 million against LBIT of EUR 9.0 million a year ago. Profit from continuing operations was EUR 24.0 million against loss from continuing operations of EUR 10.5 million a year ago. Group's profit for the period was EUR 24.0 million against group's loss for the period of EUR 2.1 million a year ago. Net financial debt was EUR 363.2 million against EUR 366.1 million a year ago. Cash flow from operating activities was EUR 24.0 million against EUR 13.4 million a year ago. Investments in fixed assets were EUR 10.5 million against EUR 21.2 million a year ago. The consolidated net revenue of the Group decreased mainly due to the termination of some advertising sales contracts for third party publishers (EUR 1.2 million first half of 2017 compared to EUR 17.2 million in the first half of 2016), due to the different publishing plan for add-on products (EUR 7.7 million), to the revision of the promotional policy in Spain (EUR 2.5 million) and to the decrease in the circulation market.



The results targets for 2017 are therefore confirmed, including EBITDA of approximately 140 million, net profit on the increase and positive and increasing cash flow.