(Finance) – The Board of Directors of Rai Waya company listed on Euronext Milan and active in the management and development of radio and television transmission and broadcasting networks for Rai, has the 2024-2027 Industrial Plan was approved, which aims to strengthen the company’s role in media distribution and digital infrastructure. The company explains that the traditional business continues to offer growth opportunities, where diversification will allow further development in the medium to long term, and sees external growth as an accelerator of the strategy.
THE main objectives for 2027 on a like-for-like basis (CAGR 2023-27) they are: Core revenues at 316 million euros (+3.8%), with a contribution from diversification initiatives exceeding 10 million euros; Adjusted EBITDA at 207 million euros (+3.5%). Further contribution expected from the diversification initiatives once fully operational (beyond the plan horizon) of more than 15 million euros; Net Profit at 92 million euros (+1.4%); Development investments of approximately €240 million, of which approximately €100 million on traditional businesses and assets and approximately €140m in diversification initiatives.
Together with organic development investments, capital allocation includes: continuity in the dividend policy substantially equal to 100% of the profits generated, for an overall distribution over the plan period of approximately 350 million euros; commitment to pursue growth through external lines as a tool to strengthen and accelerate the Plan objectives.
THE main results as of 31 December 2023 (vs 31 December 2022) see: Core revenues at 271.9 million euros (+10.8%), Adjusted EBITDA at 180.3 million euros (+19.4%), Net profit at 86.7 million euros (+17.7%), Net financial debt of 104.9 million euros (105 million euros at 31 December 2022)
Proposed a dividend of 32.22 €cents/share, corresponding to an overall value substantially in line with the 2023 Net Profit and a dividend yield of 6.7%.
“The 2023 results have fully complied with the forecastswhich had been progressively increased during the year – commented theAD Roberto Cecatto – Indexation to inflation, contribution of regional broadcast networks and careful cost control pushed Adjusted EBITDA to growth of 19.4% and brought recurring cash generation to 114 million euros”.
“And even more importantly, today we approved the Plan for the next 4 years – he added – A clear industrial path which, in addition to seizing further opportunities in traditional businesses, defines an evolution of Rai Way’s positioning in synergy with corporate assets and skills The infrastructure we are developing – modern, integrated and interconnected – is attracting the interest of customers engaged in the digital transition process. We also believe that this Plan addresses the appropriate levers to bring out the real value of the Company. The benefits will also go beyond the growth estimated for 2027, ensuring long-term sustainability and development.”