Public disclosure pursuant to Consob Resolution n of 14 may 1999

Transcription

1 Public disclosure pursuant to Consob Resolution n of 14 may 1999 Quarterly figures as of 30/09/2004 approved. In the first nine month of the year revenues amounted to 70,9 million euro (+5,7) Ebitda increased by 17,2, at 5,4 million Milan, 11th November 2004 Class Editori s Board of Directors met earlier today, to review the publishing house s activities and the consolidated third quarter s and first 2004 nine month results.. FIRST NINE MONTHS RESULTS Despite the low financial market activities endure and the economic stagnation, turnover has grown by 5,7 from 67,1 to 70,9 million EUR. Such a result has been determined by the growth of revenues from subscriptions (+13,8), which increased from 23,4 to 26,6 million EUR, and by the advertising revenues (+7,1), higher at 35,3 from 33 million EUR. Gross operating profit (Ebitda) increased by 17,2, from 4,6 to 5,4 million EUR, with an incidence on revenues equivalent to 7,6. The operating profit (Ebit) has been negative for 1 million EUR (- 1,3 million in 2003). Losses pre-tax amounted to 900 thousand euro, improving when compared to pre-tax losses of 1,6 million euro registered at the end of the same period of the previous year; the group s net financial position amounted to -4,9 million euro. The consolidation of the results of Telesia Sistemi Spa and the press agency Mf- DowJonesNews have both contributed to these first nine month results. I

2 QUARTER RESULTS Revenues for the third quarter amounted to EUR 20,54 million, increasing 2 over the same period of 2003 (EUR 20,14 million ). The gross operating margin amounted to EUR 0,09 million (EUR 1,3 million in 2003) and pre-tax losses were EUR 1,92 million (-0,65 million in 2003). FIRST NINE MONTHS MAIN EVENTS Publishing Regarding the main headings, Mf-Milano Finanza has had an average circulation of roughly 112 thousand copies (Ads figures), a light increase (+1,8) to the 110 thousand of the first nine month of As from September 25 th the publication of the new Mf Fashion has started, the first fashion and luxury daily, graphically and contently renewed. Mf Fashion is the focus in Italian press for readers and sector professional interested in fashion and luxury. Class monthly magazine average circulation has been of copies ( in 2003 Ads figures). Circuits magazine, dedicated to all winning corporate technologies, was launched after September 30 th and will be in all newsstands every 15 days together with Mf/Milano Finanza and ItaliaOggi. Circuits offers companies the opportunity to communicate with a target of 634 thousand readers with decision making power on technology purchasing. Electronic publishing / Corporate TV In September Class Editori and Telecom Italia have ended the agreement for the joint supply of Corporate TV services for the banking and financial industry. The agreement follows the one already ended with Banca Intesa Group and Banca Popolare di Vicenza for the creation of WebIntesa TV and BPVI Channel, the two banking group television channels. The Corporate TV business, sector in which the publishing house boasts a leading position confirmed by the last agreements, foresees (for Class Editori) a strong growth and activities development in the next months. II

3 Radio During the past months Radio Classica/ Milano Finanza launched a development programme that provides the programming broadcast within banking institutions and the connection between the bank s and radio websites, for the Internet broadcasting. Radio Classica/ Milano Finanza confirms itself as the only station with a classic music programming and financial information that broadcasts exploiting the different media: FM radio wave, Internet and satellite. III

4 Consolidated profit and loss account at 30 th September 2004 (in Euro 000 s ) Variation Sales Revenues 70,92 67,10 5,70 Operating expenses 65,49 62,47 4,83 Gross profit 5,43 4,63 17,27 Amortisation 6,52 5,93 10,00 Operating profit (1,09) (1,30) n.s. Net Financial charges /(Proceeds) 0,01 0,59 n.s. Extraordinary charges/(proceeds) 0,19 (0,26) n.s. Pre-tax profit (0,90) (1,63) n.s. (in Euro 000 s) Revenues at 30 th September are divided as follow: Variation Newsstand revenues 7,27 7,68 (5,33) Subscriptions 26,69 23,44 13,87 Advertising 35,39 33,03 7,1 Other revenues 1,57 2,95 (46,87) Total revenues 70,92 67,10 5,7 (in Euro 000 s) Consolidated Profit and loss account third quarter 2004 Third quarter 2004 Third quarter 2003 Variation Sales revenues 20,54 20,14 1,9 Operating expenses 20,63 18,84 9,5 Gross profit (0,09) 1,3 n.s. Amortisation 1,91 1,79 6,7 Operating profit (EBIT) (2,00) (0,49) n.s. Extraordinary charges/(proceeds) (0,17) (0,23) n.s. Net Financial/(proceeds) 0,09 0,39 n.s. Pre-tax profit (1,92) (0,65) n.s. IV

5 Class Editori Class Editori is Italy s top financial news, lifestyle and luxury good products publisher. Founded in 1986 by Paolo Panerai, the company has developed on new technologies to become a multimedia information provider,. The company s activity currently embraces newspapers and periodicals (MF/Milano Finanza, Class, Gentleman, Luna...), press agencies (MF-DowJonesNews, joint venture con Dow Jones & Co.) economic news for professionals (Class Professionale) and finance (Milano Finanza Intelligence Unit). The company is also involved in new media, including digital television and interactive (Cfn/Cnbc, in partnership with NBC-Vivendi Universal, Dow Jones, General Electric and Mediaset; TV Banking), Internet (MF Trading, radio (Radio Classica/Milano Finanza) video information systems (Telesia Sistemi) and news via satellite (MF Sat). The most recent initiatives have regarded, Class News, an all-news television channel included in the multiplex (group of channels) broadcast by Mediaset using digital-cable technology; the creation of a new Business-TV division. The division will work on designing and building corporate television channels, mainly in the banking-financial area. The first station in operation are WebIntesa TV, created for the Banca Intesa Group, and BPVI channel, for Banca popolare di Vicenza. Class Editori s shares (Ticker: CLE) are listed at the Milan Stock Exchange since the 30th November For further information, please contact: Gian Marco Giura Corporate Communications Manager - Investor Relations - Tel: Fax: Investors and analysts, ir@class.it Press, press@class.it V