Caltagirone Editore: the Board of Directors approves
the results for first half of 2023
- Revenues: Euro 55.9 million (Euro 55.8 million for first half of 2022)
- Group net result: Euro 9.2 million (Euro 8.1 million for first half of 2022)
Rome, July 26th, 2023 - The Board of Directors of Caltagirone Editore, chaired by Mrs. Azzurra Caltagirone, examined and approved the results of the first half of 2023.
Performance of operations
In the first half of the 2023 financial Group's Revenues amounted to Euro 55.9 million in line with the same period of 2022. Group advertising revenue increased by 8.5%. The contribution of the internet sector to the total advertising turnover, including advertising carried out on behalf of third parties, increased by 21.1% and is now 29.4% of the total advertising turnover. The Total Audience (pc or mobile) of the Group's web sites recorded, in the period January - May 2023, 4.17 million unique average daily users with an improvement by 21.5% as of the same period 2022. Revenues from the sale of paper and digital copies decreased by 7.6%.
Costs amounted to Euro 55.4 million (Euro 56.1 million as of June 30th, 2022) and decreased by 1.2% on the first half of 2022. The cost of labor decrease by 2.6% and the decrease of the other operating costs by 3.7% compensated the increase of raw materials costs due to higher prices of paper. Cost of labor include non-recurring charges for Euro 397 thousand (Euro 583 thousand as of June 30th, 2022) related to activities carried out by some companies of the Group.
EBITDA was Euro 491 thousand (Euro -212 thousand as of June 30th, 2022).
EBIT recorded a loss of Euro 2.7 million (Euro -3.9 million in the first half 2022) and includes amortizations of Euro 3.1 million (Euro 3.2 million as of June 30th 2022), provisions of Euro 52 thousand (Euro 398 thousand as of June 30th 2022) and depreciations for Euro 36 thousand (Euro 164 thousand as of June 30th 2022).
Net income from financial operations, positive for Euro 10.8 million (Euro 11.2 million in the first half of 2022) includes Euro 11.2 million of dividends received on listed shares (Euro 12 million in the first half 2022).
Group net result is positive for Euro 9.2 million. In the first half of 2022 the result was of Euro 8.1 million.
The net financial position amounts to Euro 5.5 million (Euro 58 thousand as of December 31th, 2022) and is influenced by the receipt of dividends on listed shares net of investments in listed shares and private bonds and the distribution of Euro 3.2 million dividends.
Shareholders' equity amounts to Euro 419.5 million (Euro 385.3 million as of December 31th, 2022). The increase is due to the positive effect achieved during the semester in the fair value valuation of the equity investments held and the result of the period.
Forecasts for the current year
The Group will continue its initiatives to enhance the multimedia versions and improve internet activities in order to increase advertising flows and acquire new readers. The Group will continue to improve the containing of all discretionary costs and to reduce direct and operating costs.
***
The Executive responsible for the preparation of the corporate accounting documents, Luigi Vasta, declares in accordance with article 154 bis, paragraph 2, of the "Testo Unico della Finanza", that the accounting information contained in the present press release corresponds to the underlying documents, records and accounting entries
Attached the statutory balance sheets and income statement currently under review of the Board of Statutory Auditors and the Independent Auditors.
Media and Investor Relations
Tel. +39 06 45412365 - Fax +39 06 45412300
ufficiostampa@caltagironegroup.it
invrel@caltagironegroup.it
www.caltagironeeditore.com
CALTAGIRONE EDITORE GROUP CONSOLIDATED BALANCE SHEET
Assets
(in Euro thousands)
Non-current assets
Intangible assets with definite life Intangible assets with indefinite life
Newspaper titles
Property, plant and equipment
Equity investments and non-current securities Other non-current assets
Deferred tax assets
TOTAL NON-CURRENT ASSETS
Current assets
Inventories
Trade receivables
of which related parties
Current financial assets
Tax receivables
Other current assets
Cash and cash equivalents
TOTAL CURRENT ASSETS
TOTAL ASSETS
30.06.2023
441
91,803
91,803
42,275
263,952
142
55,015
453,628
2,651
32,105
79
17,933
207
1,956
8,690
63,542
517,170
31.12.2022
235
91,803
91,803
44,733
231,882
151
53,215
422,019
2,532
34,246
75
-
20
2,986
23,994
63,777
485,796
CALTAGIRONE EDITORE GROUP CONSOLIDATED BALANCE SHEET
SHAREHOLDERS' EQUITY AND LIABILITIES
(in Euro thousands)
Shareholders' Equity
Share capital
Share capital issue costs
Other reserves
Profit/(loss) for the year
Group shareholders' equity
TOTAL SHAREHOLDERS' EQUITY
LIABILITIES
Non-current liabilities
Employee provisions
Other non-current provisions
Non-current financial liabilities
of which related parties
Other non-current liabilities
Deferred tax liabilities
TOTAL NON-CURRENT LIABILITIES
Current liabilities
Current provisions
Trade payables
of which related parties
Current financial liabilities
of which related parties
Other current liabilities
of which related parties
TOTAL CURRENT LIABILITIES
TOTAL LIABILITIES
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES
30.06.2023
125,000
(18,865)
304,188
9,213
419,536
419,536
10,466
210
10,456
9,195
1,228
18,787
41,147
8,519
18,166
626
10,664
3,183
19,138
33
56,487
97,634
517,170
31.12.2022
125,000
(18,865)
272,128
6,996
385,259
385,259
11,318
210
12,126
10,688
1,293
17,118
42,065
8,651
19,910
1,100
11,810
2,954
18,101
22
58,472
100,537
485,796
CALTAGIRONE EDITORE GROUP CONSOLIDATED INCOME STATEMENT
(in Euro thousands)
Revenues
Revenues from sales and supply of services
of which related parties
Other operating revenues
of which related parties
TOTAL REVENUES
Costs
Raw material costs
Personnel costs
of which restructuring charges
Other operating charges
of which related parties
TOTAL COSTS
EBITDA
Amortisation and depreciations
Leasing depreciations
Provisions
Other write-downs
Amortisation, depreciation, write-downs & provisions
EBIT
Financial income
Financial charges
of which related parties
Net financial result
PROFIT/(LOSS) BEFORE TAX
Income taxes for the period
PROFIT/(LOSS) FROM CONTINUING OPERATIONS NET PROFIT/(LOSS) FOR THE YEAR
Group net loss
Minority interest share
Earnings per share/Diluted earnings per share
1st Half 2023
53,389
111
2,494
23
55,883
(5,948)
(24,617)
(397)
(24,827)
(557)
(55,392)
491
(1,207)
(1,871)
(52)
(36)
(3,166)
(2,675)
11,575
(741)
(77)
10,834
8,159
1,054
9,213
9,213
9,213
-
0.086
1st Half 2022
53,067
127
2,789
35
55,856
(5,003)
(25,275)
(583)
(25,791)
(563)
(56,068)
(212)
(1,356)
(1,814)
(398)
(164)
(3,732)
(3,944)
12,031
(815)
(81)
11,217
7,273
856
8,129
8,129
8,129
-
0.076
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Caltagirone Editore S.p.A. published this content on 26 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2023 15:55:02 UTC.