RCS, revenues rise to 620 million Corriere: subscriptions + 32.1% – Corriere.it

Subscriptions to the Corriere della Sera in the first nine months of the year when the total active customer base reaches 457 thousand subscribers. There were 346 thousand as of September 30, 2021. Our newspaper confirms its leadership also on newsstands, while the Gazzetta dello Sport it counts 138 thousand subscriptions from 78 thousand in the nine months of last year.

The accounts approved yesterday show how the group chaired by publisher Urbano Cairo has continued to generate positive cash flows despite the general picture of significant uncertainty. Consolidated revenues rose to 620.2 million (610 at the end of September 2021). Digital revenues total 140.9 million and represent approximately 23% of the total.

The gross operating margin (Ebitda) before non-recurring charges was positive for 83 million, discounting 21 million from the impact of the increase in the cost of paper and energy. The net profit of 23.7 million, down from the 46.6 million of September 2021 when the profit benefited for 9.5 million from the capital gain from the sale of Unidad Editorial Juegos. The result was also affected by non-recurring charges of 11.9 million as well as the aforementioned higher paper and energy costs. Over 75% of the change in profit is therefore attributable to extraordinary items (past capital gains / non-recurring charges). The positive net financial position of € 7.6 million. The positive contribution of 60.5 million made by typical operations, as explained in a note, was more than offset by the distribution of dividends for 31 million, by the disbursements for technical investments (13.6 million), by the expenses for non-recurring expenses. (13.8 million) and the advance (10 million) for the repurchase of the headquarters of the Courier in via Solferino in Milan following the agreement with the Blackstone group. The purchase was completed on October 19th.

Finally, in 2022 the expansion of the information and training offer continues, the latter represented by RCS Academy. Then the number of major events grows. Between these, Italy generates the future, Civil Week, Tech Emotion, State of the art food, the Time of Women and the Sports Festival held in Trento in September with 50,000 people in attendance and 16 million video views.

As for the prospects, in the absence of worsening of the general situation, RCS believes it is possible to achieve the goal of achieving strongly positive margins in the fourth quarter of 2022, slightly lower than those achieved in 2021.