IMPRESA, SGPS, S.A. RESULTS
1ST HALF
23
IMPRESA - Sociedade Gestora de Participações Sociais, S.A.
Share Capital: €84,000,000
Head Office: Rua Calvet de Magalhães, n.º 242, 2770-022 Paço de Arcos
NIPC 502 437 464
Commercial Registry Office of Lisbon
CONTENTS
2.2. Indebtedness | 6 |
3. SEGMENTS | 7 |
3.1. Television | 7 |
3.2. Publishing | 9 |
3.3. Other | 10 |
4. IMPRESA GROUP SECURITIES | 11 |
4.1. IMPRESA Shares | 11 |
4.2. SIC Bonds | 11 |
5. IMPRESA MERIT | 12 |
6. OUTLOOK | 13 |
FIRST HALF 2023
RESULTS
SIC and Expresso consolidate their leadership
- Publishing segment revenues grew 13.8%
- Despite an increase in staff costs, with a focus on lower salaries, to address the effect of inflation, operating costs were reduced by 1.1%
- Impresa's EBITDA adjusted for restructuring costs reached €3.3m
- SIC maintained audience leadership with a share of 15.8% and has been the most watched channel for 53 months
- Expresso celebrated its 50th anniversary, recorded the best result in paid digital circulation and it was honoured with the Order of Liberty
1. HALF-YEARLY HIGHLIGHTS
The IMPRESA Group's total revenues reached €86m, compared to €88.2m in the same period of the previous year. Publishing segment revenues grew by 13.8% to €12m, with an impact on EBITDA, which increased by 43.4%.
Operating costs decreased by 1.1%, with the optimisation of the management of the television programming grid having contributed to this decrease.
The Group's EBITDA exceeded €2.9m, compared to €4.2m in the first half of 2022. EBITDA adjusted for restructuring costs reached €3.3m, representing a decrease of 22.1%.
IMPRESA recorded a net loss of €4m, a decrease of €1.9m compared to the same period of the previous year.
Net remunerated debt increased 3.6% year-on-year to €145.2m.
03
1.1. IMPRESA Brands
- SIC has been audience leader for 53 consecutive months, registering an average share of 15.8%, in terms of consolidated data, in the first half of 2023, in the universe of generalist channels.
- SIC generalist and thematic channels closed the first half of 2023 with a leading position in the commercial targets - A/B C D 15/54 and A/B C D 25/54.
- SIC Notícias was the leading information channel in the target group composed of the upper classes and the most active audience (ABC 25/54), with a share of 3.7%.
- SIC represented 50% of the market share of advertising investment among the generalist channels, between January and June 2023.
- Vale Tudo em Direto and Isto é Gozar com Quem Trabalha were the most watched programmes of the first half of 2023.
- In the top 20 programmes with the highest audience (without football), 11 are from SIC.
- Opto's Praxx series won silver in the "Streaming" category of the New York Festivals TV & Film Awards, as well as the distinction in the "Best Cinematography in a TV Series or Telefilm" category of the AIP Cinema Awards.
- The Expresso continues to be the best selling newspaper in Portugal, with an average of 95 thousand copies sold, according to data from the APCT, with reference to the period covering January to March 2023.
- The focus on digital formats allowed Expresso to achieve its best paid digital circulation result between January and March 2023, with an average of 52,000 copies sold per edition.
- In March, the Clube Expresso was
launched, which includes virtual conversations with readers on a wide range of topics, visits to the Newsroom and exclusive newsletters, with a view to attracting and retaining digital subscribers, as well as creating a closer and stronger relationship with subscribers. - The Impresa Group launched 13 new Podcasts in the first half of the year, which quickly won over listeners. Among the podcasts with the highest volume of downloads during the semester, the following stand out: Programa Cujo Nome Estamos Legalmente Impedidos de Dizer (2.6m), Expresso da Manhã (1.4m), Eixo do Mal (1.2m), Isto É Gozar Com Quem Trabalha (1.2m) and A Noite da Má Língua (0.7m).
04
FIRST HALF 2023
RESULTS
2. CONSOLIDATED ACCOUNTS
2.1. Income Statement
(values in M€) | 1st Half 23 | 1st Half 22 | var % |
Total Revenues | 86.0 | 88.2 | -2.5% |
Television | 73.4 | 77.0 | -4.8% |
Publishing | 12.0 | 10.6 | 13.8% |
Infoportugal | 0.7 | 0.6 | 5.5% |
Intersegments & Others | -0.1 | -0.1 | -36.9% |
Operating Costs (1) | 83.1 | 84.0 | -1.1% |
Total EBITDA | 2.9 | 4.2 | -31.6% |
EBITDA Margin | 3.3% | 4.7% | |
Television | 3.5 | 5.1 | -31.6% |
Publishing | 0.6 | 0.4 | 43.4% |
Infoportugal & Others | -1.2 | -1.3 | 7.6% |
Total EBITDA (2) | 3.3 | 4.2 | -22.1% |
EBITDA Margin (2) | 3.8% | 4.8% | |
Depreciation | 2.2 | 2.4 | -9.1% |
EBIT | 0.7 | 1.8 | -62.6% |
EBIT Margin | 0.8% | 2.0% | |
Financial Results | -5.0 | -4.2 | -18.3% |
Provisions | 0.2 | 0.2 | 0.0% |
Res. Bef Taxes & Minorities | -4.5 | -2.6 | -71.4% |
Income Tax (IRC)(-) | -0.5 | -0.5 | 1.1% |
Net Profit | -4.0 | -2.2 | -86.7% |
Notes:
EBITDA = Operating Results + Amortisation and Depreciation + Provisions + Impairment in non-current assets.
- Does not consider Amortisation and Depreciation, Provisions and Impairment Losses on non-current assets.
- EBITDA adjusted for restructuring costs.
05
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Impresa SGPS SA published this content on 27 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2023 15:56:27 UTC.
