PRISA net profit increased by 96%

• PRISA posted revenues of 2,299.53 million euros, of which 25% came from outside Spain. Revenues from international operations grew by 7.2% (+12.2% Latin America) and interests on debt decreased by 33%.
• Group advertising revenues grew by 8.6%.
• The Audiovisual sector posted revenues of 1,205.74 million euros with an EBITDA of 211.66 million euros, and a margin of 17.6%. DIGITAL+ had revenues of 817.51 million euros and an EBITDA of 204.66 million euros (25.0% margin).
• Total subscribers to DIGITAL+ reached 1,772,677 subscribers as of September. There has been a positive trend in the evolution of Digital+ subscribers: gross additions to DIGITAL+ increased by 9.6% in comparison with the same period of the last year and cancellations decreased by 15.0%. This positive trend has continued during the month of October and is expected to continue for the rest of the year.
• Santillana reported revenues of 497.47 million euros, growing by 8.7% in Latin America, notably Brazil (+35.6%), Peru (+22.5%), Mexico (+16.3%), Colombia (+11.8%), Chile (+6.8%) and Argentina (+4.2%).
• The Radio increased its revenues by 7.6% to reach 287.60 million euros and contributed to the EBITDA with 67.97 million (+13.8%). Margins improved significantly. International radio revenues grew by 33.6%. 
•  Press revenues reached 294.14 million euro and EBITDA increased by 7.6% to 30.30 million euros.
• Within the digital activity, the Group increased advertising revenues by 20.9%. Prisa reached 46.55 million average monthly unique users in the first nine months of the year (+24.5%). As.com increased unique users significantly (+40.6%).

The leadership position and diversification of the Group's activities, its geographical presence, the robust performance of the education business and the control of costs have allowed PRISA to improve results despite an adverse economic environment. The Group has been able to double its net profit compared to 2009.

Operating revenues reached 2,299.53 million euros in the first nine months of 2010 compared to 2,428.61 million euros in the same period of 2009. The difference (-5.3%) is explained by the change in football exploitation model. Discounting this effect, the Group's revenues would have remained stable between 2009 and 2010, and those of Sogecable would have increased by 0.9%.

By business sector, Audiovisual represented 52.4% of PRISA revenues, followed in importance by Education (21.6%), Press (12.8%) and Radio (12.5%). In terms of geographical diversification, it is worth highlighting the distribution of revenues by region. During the first nine months of 2010, 25% of revenues came from outside Spain, of which 58.2% are derived from Santillana, 24.7% from Media Capital and the remainder is derived mainly from the international radio. By country, Brazil and Portugal accounted for a 45% of the international revenues. The international area maintained a significant growth of revenues (+7.2%), especially strong in Latin America (+12.2%).

Education-publishing
Santillana's income increased by 1.4% to reach 487.90 million euros, compared to 481.26 million euros recorded in the same period of 2009. This figure does not include the institutional campaign in Brazil, which is expected to have a positive performance and which will be reflected in the fourth quarter of 2010. The publishing business posted an EBITDA of 158.20 million euros, with a margin of 31.8%. EBITDA for the business unit in Latin America increased by 2.2% to reach 89.74 million euros.

It is worth highlighting the growth in Brazil (+35.6%), Peru (+22.5%), Mexico (+16.3%), Colombia (+11.8%), Chile (+6.8%) and Argentina (+4.2%).

Press
El País reached 198.65 million euros of revenues and posted an EBITDA of 19.66 million euros. El País is one of the few leading newspapers worldwide that continues to post profits. The newspaper has renewed its leadership position with an average daily circulation of 373,508 copies and has widened the gap over its nearest competitor.

AS posted revenues of 63.58 million euros (+21.4%) and an EBITDA of 10.84 million (+ 50.3%). With an average daily circulation of 218,532 copies, the sport daily has strengthened its leadership position in Madrid and Barcelona. During the third quarter of the year the circulation of AS increased by 6.2% and also saw a notable increase of 66.6% in advertising revenues.

Cinco Días reached an average daily circulation of 31,751 copies.

Radio

The radio turnover increased by 7.6% to 287.60 million euros and EBITDA reached 67.97 million euros (+13.8%), improving margins by more than one percentage point to reach 23.6%. International Radio revenues grew by 33.6%, and advertising revenue improved by 36.8%. Results particularly improved in Colombia, Chile and Argentina.

Audiovisual

The audiovisual sector reported revenues of 1,205.74 million euros, and an EBITDA of 211.66 million euros with an EBITDA margin of 17.6%. DIGITAL+ posted EBITDA of 204.66 million euros, with a margin of 25.0%. Cuatro improved its EBITDA by 11%, even though the costs of the 2010 football World Cup were recorded in 2010.

Subscriber base for DIGITAL+, as of September 30, 2010, stood at 1,772,677 subscribers, generating revenues of 688.67 million euros. Canal+ Liga had more than 810,000 subscribers.

It is worth highlighting the evolution of added value services for DTH customers, within the strategy of technological change implemented by the Group to drive loyalty and ARPU. Particularly noteworthy is the evolution of subscribers with the iPlus, which have increased by almost 150,000 since the end of 2009 to reach 245,940 subscribers, as a consequence of the new iPlus marketing model, from a model of sale to a model of monthly lease. As of September 30, 2010, more than 100,000 subscribers hired the Multi+ (multi-room) service. The number of subscribers with both iPlus and Multi+ reached 80,025 subscribers.

Within this strategy of technological change, Digital+ has enhanced HD offering with 17 channels as of September, 2010. Additionally, Digital+ has been broadcasting in 3D since May, 2010.

Wholesale agreements have recently been signed to sell contents to Jazztel, Telecable and Orange and have performed well. Negotiations to close additional deals with other operators are in process. These agreements are expected to have a strong contribution to both future subscribers and revenues.

The average revenue per subscriber to the satellite (ARPU) stood at 41.1 euro per average subscriber per month in the third quarter of 2010, representing a 4.7% increase over the same period of 2009.

Cuatro has continued to show a positive performance during the first nine months of 2010, ending September with an average audience of 7.5% both in 24-hours and in prime time. It also maintained its position in the most attractive segments for advertisers, with a 9.8% and a 10.4% of audience in the commercial and core target segments, respectively.

TVI, Media Capital's free-to-air television network, maintained its leadership position for 51 months in a row in Portugal in terms of audience, both in 24 hours and prime time. The average audience up to October was 34.1% compared to its closest competitor, RTP1, with 29.9%.

Advertising

Advertising revenues (EUR 682.31 million) increased by 8.6% compared to the first nine months of 2009, representing an increase significantly higher than average market performance, demonstrating the Group's more reduced exposure to fluctuations in the advertising market. This is thanks to the diversification of markets and the indisputable strength of the Group's businesses.

The Audiovisual sector grew by 14.6% (+24.1% for Cuatro), and Radio by 8.7% (+36.8% in the International Radio sector, reflecting the positive performance of the economies in Latin America). Press was up by 2% (+66.6% for AS) and the Digital sector increased by 20.9% (Audiovisual webs grew by 21.3% while Press webs saw advertising revenues up by 25%, As.com (+49.9%) and ElPais.com (+14.8%).

Advertising revenues coming from the international area increased by 10.9% (+30.2% in Latin America) and by 7.8% in the national area.