Although the crisis sector and advertising sales in print media are constantly falling, the Rcs Mediagroup Group continues to reduce revenue and margins. And break the debt. Even if the new accounting principles of IFRS 15 are particularly relevant to this recovery, the result is: at 16 o'clock the title Rcs saliva from 3.6% to 1.03 euros.
Thus, the publishing house in Via Rizzoli, controlled and managed by Urbano Cairo, closed nine months of competitions with traffic that jumped from 657.7 to 713.3 million, even if it is on a unique basis, as we read in the company note, except for the first nine months of 2017, the effects of the adoption of the new accounting standards of IFRS 15 (+ EUR 57.3 million attributable to the release of EUR +75.9 million in revenue of advertising -8.1 million euros and other revenues of -10.5 million) show a significant income stability in comparison to the same period of 2017. "
Given the contributions, EBITDA increased from 84.4 to 101.8 million and EBIT from 47.1 to 77.3 million, while net profit jumped from 19.8 to 52.1 million. And the net financial debt was reduced to 215.9 million compared to the negative amount (-287.4 million) at the end of 2017. For this reason, Rcs repeated in the note released today to consider "Growth throughout the financial year ebitda cash flow from current business as compared to last year, as allowed to reduce financial debt below 200 million."
This strong debt intervention, also linked to the revision of the financial agreement with banks, as defined on October 10 (foresees an extension of the 12-month loan duration with the consequent delay of 31 December 2022 to 31 December 2023 and a reduction in the interest rate which applies to both credit lines as of October 10, 2018), it is likely that the owner of the company will, among other things, Corriere della Sera and The Gazzetta dello Sport, with the Spanish newspaper El Mundo and Brand, return to distribution, when the financial statements are approved in 2018, dividend to shareholders.
It should also be noted that the former director of RCS , or Peter Scott Jovane, earlier in Microsoft Italy, and then in ePrice and Telecom, according to market voices, would have taken over Italy's position , a group referring to Naguib Sawiris. The Jovane will occupy Antonio Converti.
Finally, today, the former Rizzoli publishing house Riccardo Taranto was appointed to the director of Bocconi University in Milan. The Management Board of the University, under the leadership of Mario Monti, then approved the appointment of Luigi Guatrija as honorary president and Andrea Sironi for the vice-president. Taranto succeeds Bruno Pavesi, CEO of Bocconi's Board since 2008.