Publicly Held Company Share Capital Eur 84,000,000
Rua Ribeiro Sanches, 65 1200-787 Lisbon
NIPC 502 437 464
Commercial Registry Office of Lisbon
IMPRESA Accounts of the 1st quarter 2017
Main events of the 1st quarter 2017
IMPRESA achieved a negative net income of 2.8 M€, which represents a decrease (-12.9%) relative to the 1st quarter of 2016.
Net remunerated debt fell by 3.3 M€ year-on-year, to 191.6 M€.
The 5.5% decline in IMPRESA total revenues, to 45.3 M€, was due to the decline in advertising revenues in the Publishing area, and lower associated products and multimedia activity.
IMPRESA continued its cost reduction policy, with a reduction of 3.7% in the 1stquarter 2017.
Total EBITDA was negative, standing at -656,000 Euros.
Improvement in the financial results, by 20.3% to 1.8 M€
SIC ended the 1st quarter of 2017 with an average share of 17.6%, maintaining its leadership position in the commercial target (A/B CD 25/54) during prime time, with a share of 17.8%.
SIC Notícias stood out once again as the leading information channel, with a share of 2.1%.
In March 2017, SIC Internacional África was launched, with its own contents for the African market, and thus consolidating SIC as a reference channel in Portuguese speaking markets.
SIC novelas won a Gold Medal for "Mar Salgado" on the World Media Festival, and the Bronze medal for "Amor Maior" at the International Television & Film Awards.
The bet on the digital transition, means that the digital revenues, both advertising and circulation, represent 11.4% of the total turnover in the Publishing area.
Table 1. Main Indicators
Intersegments & Others
-33.120
-93.836
64,7%
Operating Costs (1)
45.925.252
47.699.041
-3,7%
(values in Euros) mar-17 mar-16 ch %
Total Revenues
45.268.482
47.912.195
-5,5%
Television
34.596.861
36.849.567
-6,1%
Publishing
10.135.246
10.709.553
-5,4%
Infoportugal
569.495
446.911
27,4%
EBITDA
-656.770
213.154
n.a
EBITDA Margin
-1,5%
0,4%
EBITDA Television
712.137
2.032.708
-65,0%
EBITDA Publishing
-723.557
-559.065
-29,4%
EBITDA Infoportugal & Others
-645.350
-1.260.489
48,8%
Net Profits
-2.759.152
-2.444.785
-12,9%
Net Debt (M€)
191,6
194,9
-1,7%
Note: EBITDA = Operating Results + Amortisations and Depreciation + Impairment Losses. Net Debt = Loans (ST+MLT) - Cash and cash equivalents + Financial leases. (1) Does not consider Amortisations and Depreciation and Impairment Losses.
Analysis of the Consolidated Accounts
In the 1st quarter of 2017, IMPRESA reached consolidated revenues of 45.2 M€, which represented a decrease of 5.5% in relation to 47.9 M€ recorded in the 1st quarter of 2016. This decrease in consolidated revenues was due to the decline in the multimedia, associated products and advertising in the Publishing area.
The following should be noted relative to business in the 1st quarter of 2017:
2.0% increase in advertising revenues, with the drop in paper advertising, being compensated by TV and Digital advertising.
0.4% increase in circulation revenues.
2.1% decline in channel subscription revenues, due to lower international revenues.
39.7% decline in other revenues, namely in multimedia and associated products.
Table 2. Total Revenues
(values in Euros)
mar-17
mar-16
ch %
Total Revenues
45.268.483
47.912.195
-5,5%
Advertising
24.403.767
23.920.724
2,0%
Channel Subscription
10.877.843
11.109.134
-2,1%
Circulation
5.557.268
5.534.908
0,4%
Other revenues
4.429.605
7.347.428
-39,7%
Operating costs in the 1st quarter of 2017, without considering amortisation and depreciation, fell 3.7% year-on-year. This decrease benefitted from the decrease in staff costs following the restructuring undertaken at the end of 2016, and from the contraction in multimedia activity.
Based on this performance, EBITDA came negative, at -656,000 Euros, in the 1st quarter of 2017, 860,000 Euros less than in the same period of 2016.
The volume of amortisations increased 3.5% to 0.9 M€ in the 1st quarter of 2017, as a result of the investments rise in 2016. The expansion of the IMPRESA building was initiated in March 2017, a project that will enable all of the activities of the Group - Television and Publishing - to be brought together in the same building, which is expected to be concluded in the 4th quarter of 2018.
In the 1st quarter of 2017, the negative financial results came to 1.8 M€, down 20.3% relative to 2.3 M€ in the 1st quarter of 2016. The good results obtained are a result of the reduction in financial costs, due to falling interest rates. There was, at the same time, a significant reduction in exchange rate losses during this 1st quarter of the year. Also, in the results of associated companies, there were lower losses relative to the same quarter of 2016.
Impresa SGPS SA published this content on 27 April 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 27 April 2017 16:02:10 UTC.
Original documenthttp://binaries.cdn.impresa.pt/ecb/d2b/10699455/PressReleaseContas1_TRIM_2017_EN.pdf
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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. 
