In a statement sent to the Portuguese Securities Market Commission (CMVM), Impresa said that in the first three months of the year recorded a loss of 2,444,785 euros, compared with 2,820,603 euros a year earlier.
the consolidated revenues decreased 4.2% to 47.9 million euros, Impresa to explain that this development was “caused mainly by the decrease in headings subscription, circulation and advertising area Publishing “.
in the first quarter, total advertising revenue decreased by 1.6% to 23.9 million euros,” mainly felt in the publishing area, “and revenues from subscription the eight channels SIC, distributed by cable and satellite, down 12.4% to 11.1 million euros, “the result of declines in both the international and national values,” the group led by Francisco Pedro Balsemão.
“This decline was due to several factors: the conclusion of new distribution contracts (note that the decrease in income is associated with a simultaneous reduction in operating costs); the decline in the number of foreign subscribers, particularly in Angola; and the recent devaluation of the US dollar, “he says.
Also the circulation revenues declined until March, registering a decline of 8.4% to 5.5 million, while other income rose by 5.3%, “particularly in alternative products, multimedia, technical services, Infoportugal and new media solutions.”
in the quarter, the result before taxes, interest, depreciation and amortization ( EBITDA) unadjusted Press fell 78.3% to 213 thousand euros, while adjusted EBITDA of restructuring costs stood at 0.7 million euros, down 300 thousand euros in the same period of 2015.
operating costs, excluding depreciation and amortization, fell 2.7% to 47.6 million euros.
“This reduction benefited from the fall in personnel costs following the restructuring carried out at the end of 2015 and also the implementation of a new organization already in 2016. These measures provided a 4.3% reduction in fixed costs in the first quarter 2016, “said Impresa.
” note that the operating costs were affected by 0.5 million of restructuring costs in euros, “he added.
Impresa said that it noted” a loss on financial investments of the subsidiaries, including the Lusa, about 273 thousand euros “.
the revenue of SIC fell 2.7% to 36.8 million euros and of publishing fell 9.2% to 10.7 million euros.
Impresa explains that the decrease of SIC revenues was due “almost entirely” to “break the channel subscription revenues.”
the advertising revenues of television rose 2.5% to 19.8 million euros, “despite the penalty caused by the decline in audiences in this period, and still motivated by the occurrence of the Easter holidays, which in the same period of 2015 only occurred in the second quarter of the same”, said the owner SIC.
the operating costs of television decreased 2.1% to 34.8 million euros and EBITDA fell 11.1% to 2.03 million euros.
Impresa also notes that multimedia revenues, or IVR, “after several quarters to fall, presented in the first quarter of 2016 a slight increase of 1.7% to five million euros”.
in the area the Publishing, advertising revenues fell 18.1% to 4.1 million euros, “despite the contribution of the digital area, in particular as regards the Daily Express, a solid performance of sites, as well as the area of classified – that has represented 17% of total advertising revenues “in this segment
the Publishing EBITDA fell 68.9% to 559,000 euros.
” the improvement of the net results achieved in this first quarter of 2016 and the maintenance of key trends allow the Impresa group estimate an increase in net income in 2016, and to continue the reduction of interest-bearing liabilities “, concludes Impresa.
ALU // ATR
Lusa / End
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