How the accounts of Cairo Communication are crying

12 November 20204 years ago babelfish

All the numbers of the quarterly report of Cairo Communication. The weight of RCS in the debts of the company chaired by Cairo (which controls RCS)

This is one of the salient aspects that emerges from the quarterly report of Cairo Communication, the group chaired by Urbano Cairo which owns 59% of RCS.

Here are all the details on Cairo Communication's first nine months of 2020.

THE FIRST NINE MONTHS OF 2020 OF CAIRO COMMUNICATION

Go ahead of the Cairo Communication board of directors to the accounts of the first nine months of the year closed – emerges from the press release of the group – with a result in the red of 11.4 million euros, which compares with the profit of 23.5 million in the same period of 2019.

REVENUES FROM CAIRO COMMUNICATION

Revenues fell to 697.1 million from 911.2 million (-23.5%) while EBTIDA fell to 36.2 million (from 119.0 million). In the third quarter alone, the group recorded a decline in consolidated revenues to 238.5 million compared to 265.1 million in the same quarter of 2019.

HOW IS CAIRO COMMUNICATION'S PROFIT

In the period July-September 2020, the Cairo group returned a profit of 1.3 million (compared to the loss of 0.7 million recorded in the third quarter of the previous year).

THE WEIGHT OF RCS ON DEBT

Consolidated net financial debt as at 30 September amounted to approximately 99.9 million (compared to 134.6 million at the end of December 2019) and refers to Rcs for 106 million (compared to 131.8 million). As for the future, "in the absence of a tightening of measures to contain the infection, extension of their duration, or significant expansion of the regions classified in the highest risk brackets, the group believes that it is possible to confirm the objective of achieving in the second half year 2020 margin levels (ebitda) in line with those achieved in the same period of 2019 ".

CAIRO COMMUNICATION'S ACTIONS IN THE THIRD QUARTER

The group therefore achieved in the third quarter "thanks to the actions implemented to support and develop revenues, as well as to contain costs" a gross operating margin, an operating result and a net result "in growth compared to those achieved in the same period 2019, confirming the expectations communicated at the end of July 2020 ".

INDICES OF CAIRO COMMUNICATION

Compared to the business sectors, net of Rcs and La7 , in the first nine months of 2020 for the periodicals publishing branch (Cairo Editore), the EBITDA and EBIT amounted respectively to 5.5 million and 4.2 million ( against 5.3 million and 3.8 million in 2019). For the network operator sector, EBITDA and EBIT amounted to 2 million and -0.3 million (against 2.1 million and -0.2 million). For the concessionaires, the gross operating margin and the operating result fell to 0.7 million and -1.1 million (compared to 1.1 million and 0.8 million in the same period last year).

THE TOTAL DEBT

Total net financial debt – which therefore includes financial liabilities relating to lease contracts recognized in the financial statements pursuant to IFRS 16 (mainly property leases) equal to Euro 186.8 million – amounts to 286.7 million (compared to 339.2 million at the end of December 2019).

This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/come-piangono-i-conti-di-cairo-communication/ on Thu, 12 Nov 2020 14:50:17 +0000.