PRISA boosts EBITDA by 53% for a first-half total of EUR 68 million

• Both the media and education businesses continue to enjoy growth. Group revenues are up by 14%.
• PRISA reinforces governance with the appointment of two Deputy Chairpersons, overseeing Spain and Latin America.
• Debt is down by EUR 60 million since December 2022.

Grupo PRISA has reported sustained growth in business, revenue and margins in the first half of the year, with all indicators up compared to the same period in 2022.

At the end of June, PRISA registered revenues of EUR 441 million, a 14% increase over the figure in the first six months of last year. EBITDA was EUR 68 million, 53% higher than H1 2022 EBITDA margin was 15.5% for the period, up by four percentage points compared with the first half of last year.

Santilana’s firm commitment to digital business in the area of ​​education is reflected in the 9% growth in subscribers compared to H1 2022, with the total now standing at 2.7 million.

The number of EL PAÍS subscribers also increased compared to the same period last year. Exclusively digital subscriptions increased by 51%. The total figure (print + digital) exceeded 308,000 at the end of June.

PRISA continues to focus on debt reduction. Net debt at the end of H1 2023 stood at EUR 866 million, down by EUR 60 million. In H1 2022, it had increased by EUR 79 million. Liquidity stood at 162 million in June.

The Group's net result is -36 million, mainly due to the increase in financing costs after the sharp rise in interest rates.

SANTILLANA

Santillana saw EBITDA reach EUR 55 million in H1, an increase of 50% compared to the same period last year. Sales to both the public and private school sectors enjoyed growth with revenues climbing to 235 million, 16% more than in the first six months of 2022.

The education business continues to grow thanks to Santillana's leadership in digital transformation. Learning systems saw subscriptions up by 9% compared to the previous year, demonstrating the robustness of Santillana’s products and services and the loyalty of customers.

PRISA MEDIA

PRISA Media has seen the number of subscribers to EL PAÍS continue to rise at a steady pace. The Group's advertising revenues have grown in the first half of the year, increasing by 5% thanks to the strong performance of the press (digital and print) and radio in Spain and Chile. PRISA Media’s EBITDA stood at EUR 14 million, EUR 3 million higher than in the same period of 2022.

Media revenues also grew to reach 204 million, up by 10%. EBITDA margin increased by one percentage point and now stands at 7%. PRISA Media continued to perform well during the first half, with significant growth compared to 2022 for digital indicators: digital subscribers (+51%), digital audio (+4% for downloads and +12% listening hours), digital video (+16%) and social media (+12%).

The Group’s Radio networks, including SER, LOS40, Caracol, ADN Chile, among others, remain audience leaders with a total of 23 million listeners. Most recent EGM figures put the SER network ahead in all its categories, including digital radio, with 4,056,000 daily listeners. The music channels continue to grow and  LOS40 closed the first half with more than 8.8 million monthly listeners in Spain alone.

SUSTAINABILITY

During the first half of the year, PRISA has continued to forge ahead with its sustainability strategy included in its 2022-2025 Master Plan. Priorities include a focus on social impact, responsible management of the organization and transparent and committed governance.

With regard to the environment, the Group continues to raise awareness among its audiences about the effects of climate change through initiatives such as the Los40 Eco Talks. Important steps have also been taken in the incorporation of sustainability criteria in the planning and management of events. The Annual General Shareholders' Meeting and the EL PAÍS Ecosistema Ahora forum have obtained certification as sustainable events, for implementing measures that minimize their impact on the environment and for adopting best practice with regard to diversity and inclusion.

In Brazil, Mexico and Colombia, Santillana has launched the Sustainable Schools contest, together with the Organization of Ibero-American States (OEI), to pay tribute to schools’  sustainability initiatives. Meanwhile, Caracol Radio, in Colombia, has created the program Caracol Sostenible, a new initiative that fosters greater engagement among audiences with current social and environmental challenges and highlights the role of citizens and companies in facing these challenges.

Finally, in the sphere of governance, it is noteworthy that women currently account for 46.7% of the PRISA’s Board of Directors, bordering on parity and well above the 40% established in the draft Organic Law on Equal Representation of Men and Women in Decision-Making Bodies.

In addition, in order to reinforce governance, the Board has appointed two Deputy Chairpersons, Fernando Carrillo and Pilar Gil, who will fulfill their duties in the Americas and Spain, respectively.