(Finance) – The 2021 financial year of Caltagirone Editore registered a net profit of € 28.7 million, a sharp increase compared to the negative result of 44.3 million euros in the previous year which “was also affected by the writedown of intangible fixed assets with an indefinite life for 57.4 million euros”.
THE operating revenues amounted to 122.7 million euros (119.9 million euros in the previous year), an increase of 2.3%
The Gross operating margin it was positive for 15.5 million euros (5.5 million euros at 31 December 2020) also due to the 6.2% reduction in operating costs. The operating result it was positive for 8.3 million euros (negative for 59.6 million
euros as at 31 December 2020).
There Net financial position amounted to 45.2 million euros, down by 40.8 million euros mainly due to net investments in listed shares and the share of debt deriving from the application of IFRS 16, net of dividends collected on listed shares and positive operating cash flow.
The Board of Directors resolved to propose to the Shareholders’ Meeting the distribution of a dividend equal to 0.03 euro for each of the 106,790,262 ordinary shares currently in circulation, taking into account the treasury shares in portfolio, currently equal to no. 18.209.738. The dividend will be payable on 25 May (coupon detachment on the Stock Exchange on 23 May) and with record date on 24 May.
Foreseeable evolution of management
The Group announces that “the initiatives for the enhancement of multimedia versions and the improvement of internet activities aimed at increasing new advertising flows and acquiring new readers are continuing” and that “it will also continue to implement measures aimed at containing all costs of discretionary nature and the structural reduction of direct and operating costs “.