(Finance) – Netweeka publishing group listed on Euronext Milan, closed 2023 with a negative consolidated result equal to 13.4 million euros (during the previous year the result had been negative for 1.9 million euros). The result is strongly impacted by non-recurring charges of approximately 10.5 million euros, of which 9.2 million euros for goodwill impairmentlargely due to the change in the group’s strategic directions which shifted attention from broadcasters mainly linked to the teleshopping market in favor of premium broadcasters.
At a consolidated level i revenues linked to the core activity of the group, equal to 24.5 million euros, recorded an increase of 2.4 million euros compared to the previous year, when they were equal to 22.1 million euros. This change is attributable to the entry into the scope of consolidation of the activities linked to radio and television broadcasters and the incorporation of Media Group into Netweek.
“The 2023 financial year was characterized bystart of the integration process between the traditional activity in paper publishing and the companies operating in local television broadcasting. In particular, the focus has been shifted to the so-called premium channels capable of attracting advertising investments with higher added value, overcoming the volatility of the teleshopping market – commented theCEO Marco Sciscione – The objective of the new group is concentrated on the creation of a new editorial hub, leader in the local market, capable of offering its advertisers and commercial interlocutors an integrated and multi-platform range of local media (paper, web and TV)”.
L’Net Financial Debt at 31 December 2023 it was equal to 8 million euros, worsening by 2 million euros compared to 31 December 2022, when it was equal to 6 million euros.
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