Gruppo 24 Ore is back in profit. CEO Cartia D’Asero: “We have reversed the negative trend”
Il 24 HOUR Group closes 2022 with a ebitda positive for 32.0 million euros, an improvement of 20.7 million, a ebit positive for 11.5 million euros, an improvement of 26.8 million and one Net income positive for 0.5 million euro, an improvement of 21.6 million.
Net of non-recurring income and expenses, the Net income is positive for 1.4 million with an increase of 2.1 million euros compared to 2021 (from a negative result of 0.7 million in 2021). The net assets is equal to 15.9 million euros, an increase of 2.1 million euros compared to the shareholders’ equity of the consolidated financial statements as at 31 December 2021, which amounted to 13.9 million euros.
The Chief Executive Officer Mirja Cartia d’Asero: “We have brought the Group back to profit after 14 years, net of non-recurring items. A result which, albeit contained, marks an important trend reversal especially if one considers the structural crisis in the publishing sector and the macroeconomic and geopolitical context conditioned by the war in Ukraine, the high energy and raw materials price, the recovery of inflation . Aware that the future scenario remains complex, we are proud to give a signal of a solid and concrete step change that the Group has made in building a sustainable business“.
Revenue trend
The macroeconomic and geopolitical scenario is characterized by elements of uncertainty such as: the ongoing conflict in Ukrainea clear one recovery of inflation, the increase in interest ratesthe residual effects of Covid-19 and the rising cost of raw materials and energy.
In this context the 24 HOUR Group records a growth thanks both to the improvement of the pandemic context, which has allowed the resumption of the exhibitions created by 24 HOURS Culture Srl (Mudec activities had been completely closed until the end of April 2021), both to the authoritativeness and high quality of the contents, to the good performance of advertising sales, to the development of products in the Professional Services area and to effective commercial policies in all areas. In 2022 the 24 HOUR Group recorded consolidated revenues of 211.6 million euros (203.5 million euros in 2021), up 3.9% or +8.0 million euros compared to 2021.
In particular, in 2022 advertising revenues grew by 2.6 million euros (+2.9% compared to the previous year) and amounted to 90.8 million euros; publishing revenue decreased by 2.3 million euros (-2.3% from 100.9 million euros in 2021 to 98.6 million euros in 2022) mainly due to the contraction in revenues generated from the sale of print products; other revenues recorded an increase of 7.7 million euros (+53.4% from 14.4 million euros in 2021 to 22.1 million euros in 2022), mainly thanks to higher revenues from the Culture area and most innovative products in the Professional Services and Training area.
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