Dear readers and readers,
the 2020 report of the Sole 24 Ore has been published in its full version. We give you our reading, beyond the one that appeared in the official press releases. These highlighted a positive EBITDA of 20.1 million and a negative net result of just one million euros.
But how did these results come about? Above all, from the great work of journalists and all those who work with them every day: not from the work of a director alone, but from 190 colleagues of the newspaper (to which are added those of magazines, agencies and radio) who have produced information, despite an organization (we said it in a press release a few days ago) that is increasingly frayed and not very effective in enhancing the efforts of the editorial staff.
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To prove it are the numbers. The division to which we belong increased circulation revenues by 4.3%, offsetting a reduction in advertising revenues (-6%), however much lower than the market average. Added to this is an EBITDA of 11.8 million euros, up by 267 percent. To put it simply, last year everyone feared a collapse in revenues, but the numbers say that there was not: in 2020 we replicated the revenues of 2019. Indeed, the revenues linked to the work of our division would even be in growth, if an increasingly important share of journalistic activities had not been placed in the balance sheet under the umbrella of another division (Tax & legal): there are five vertical newspapers, by subscription, on which a part of important of the editorial staff.
Throughout the year, they recorded record subscriptions and reader satisfaction. It does not matter, it is only financial report classifications. If the budget does not say so, however, we want to say so, to do justice to the commitment of dozens of our colleagues.
In the year of Covid, of the catastrophe announced for publishing, in an era in which the work of journalists is often described as marginal and not very productive and despite a management unable to dialogue with the entire editorial staff, the journalists of the Sole 24 Ore they have succeeded in increasing the Group’s revenues, also supporting areas most affected by the closures.