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PRISA reports profit of 22 million euros in the first quarter of 2017

03-05-2017

PRISA reports profit of 22 million euros in the first quarter of 2017

PRISA has reported a net profit after tax of 22 million euros in the first quarter of 2017 compared to 13 million in the same period last year, representing an increase of 69.3%. There has also been a significant improvement in margins, with adjusted EBITDA increasing by 55% to 92.5 million euros.

The results are due chiefly to buoyant business performance in education, the recovery of Radio and favorable exchange rates against the currencies of Latin America.

 PRISA maintains the competitive strength for audiences across all media, with 131 million unique browsers. El País consolidates its position as the leading Spanish-language newspaper in the world and leads for circulation figures in Spain. As reinforces its lead among digital media in the Americas. PRISA’s radio stations are undisputed leaders in Spain, Colombia and Chile. Media Capital and its TV channel TVI is audience leader in the sector in Portugal, where it also ranks first for financial results.

Santillana has closed the first quarter of the year with robust performance, registering a growth of 28.1% in revenue and 57% in EBITDA. The company’s campaigns in the southern region of Latin America area have increased overall revenues by 28.5%, with noteworthy performance from Brazil. Digital learning systems (UNO and Compartir) continue to forge ahead with their expansion and growth.

Radio network SER saw advertising revenues up by 8% nationwide  and by 6% for local broadcasters compared to the previous year, with margins also higher. The trend was also up in Latin America, with increased revenues in Chile, Mexico and Argentina. PRISA Radio’s EBITDA as a whole improved 42.5% to 7.3 million euros.

With regards to Press, there was notable growth for digital advertising (+ 10%), which now accounts for 47% of total advertising revenues. Circulation revenue and income from traditional advertising continue to decline, reflecting a general trend in the sector, although market share has been maintained. The digital transformation of El País continues apace with a new 24-hour news model synchronizing the three newsrooms in Madrid, Mexico and Sao Paulo to better adapt content to changing consumption habits – mainly mobile and audiovisual – and providing a constant offer of live multimedia content and special programs.

Media Capital’s results have been affected by the downturn in the advertising market in Portugal, which began the year with significant falls. Strict cost control has helped to achieve an EBITDA of 5.6 million euros over the period. TVI maintains its lead, both 24 hours a day and in prime time, with average daily audience share of 22% and 26% respectively.

PRISA has reduced its debt over the period to 1,481 million euros. Financial expenses fell by 2.4 million in the quarter thanks to debt reduction. The refinancing plan launched by the Board of Directors continues apace and binding offers for the sale of Santillana are expected in early May.

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