Il Sole 24 ORE S.p.A. reported consolidated interim management statement results for the first quarter ended March 31, 2016. For the quarter, the company's revenue was EUR 86.0 million compared to EUR 85.1 million a year ago. Gross operating profit (EBITDA) was EUR 0.1 million compared to EUR 1.8 million a year ago. The change is explained by the different scope of advertising sales and other operating income in first quarter 2015. Operating loss was EUR 4.1 million compared to EUR 2.0 million a year ago. Pre-tax loss was EUR 5.7 million compared to EUR 2.3 million a year ago. Loss from continuing operations was EUR 5.8 million compared to EUR 3.0 million a year ago. Net loss was EUR 5.8 million compared to EUR 3.0 million a year ago. Loss attributable to owners of the parent was EUR 5.9 million compared to EUR 2.8 million a year ago. Total cash flow used in operating activities was EUR 16.4 million compared to EUR 21.2 million a year ago. Investments in intangible assets and property plant and equipment was EUR 1.2 million compared to EUR 1.6 million a year ago.

To date and in the absence of unpredictable events at this time, the Group continues to keep a sharp eye on its relevant market, still marked by a high degree of uncertainty, regarding the advertising market trend in particular. Against this backdrop, forecasts for 2016 reasonably confirm an improvement in EBITDA versus 2015, together with improved cash flow from operations.