28 Sustainability Report 2014 Year in review PRISA, a global group Santillana Once again, and for another year running, Santillana has maintained its leadership in the education and publishing sectors in Spanish and Portuguese. Its intense activity in the 22 countries where it operates is critical to the growth of the group, while the strength and robust nature of many of its markets has enabled it to face down the worst of the Spanish economic downturn, which has seen consumer spending fall and the publishing industry suffering significant losses over the past four years. Results in Latin America demonstrate the effectiveness of the company’s efforts in the region, despite the negative impact of volatile currency markets in some countries. There was particularly buoyant performance in Brazil, where the company leads in both the public and private education sectors. Santilana ’s commitment to digital publishing continues apace, offering different models in line with market needs and rhythms of implantation. 2013 was a year of consolidation for Sistema UNO, a comprehensive learning model that offers content, equipment and educational services to schools, with an emphasis on technological innovation and bilingual education. At the same time, this year has been instrumental in the international expansion of Santillana Compartir to countries such as Colombia, Brazil and Argentina. This initiative, which was launched in September 2012 in Mexico, integrates print text with digital content and is intended as a system of support for schools in their transition to the use of new technologies. In the Spanish market, despite the economic downturn, Santillana has outperformed the market, both in education and in general-interest publishing. The situation is complicated by the adoption of the new Education Law, LOMCE (Organic Law for the Improvement of Educational Quality) which, not without controversy, will begin to be implemented in the 2014-15 course for Primary and Basic Professional Training (FP). The low degree of support for this Law among the autonomous regional governments and among educational institutions in general, makes its actual level of implementation uncertain, to say the least. Meanwhile, Santillana has launched an ambitious new educational project that will be released in the coming months and which responds to the new curricular changes. With an operating income of 738 million euros (+0.6% over 2012), Santilana ’s EBITDA reached 171 million euros. Business in Latin America accounts for 80.5% of consolidated group revenue and 86.7% of EBITDA, Business areas Santillana stand in LIBER.
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