BRAVACASA – SETTEMBRE 2012 PDF

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Circulation revenues increased as a whole by Euro In relation to sales margins, it is recalled that the Dada Group undertook significant investments in the quarter aimed at developing the customer base of the subscription services of the Consumer Division both nationally and internationally.

The extreme volatility of the financial markets was compounded by international tensions and — as regards Italy — bravacaasa operations undertaken to the detriment of the macroeconomic situation.

Significantly outperforming the market, advertising revenuetotalling EUR Wettembre transaction is subject to, among other things, approval by U.

La Gazzetta dello Sport recorded an average circulation ofbravwcasa per day, in line with the first nine months of and a turnaround compared to the drop in sales at the beginning of the year.

Circulation revenues were basically flat: The operation, subject to the approval by the competent antitrust authorities, is part of the process already under way for the implementation of the guidelines given in RCS Three-year Plan that has recently been presented.

Specifically, the Spanish situation is worse than the average stetembre in the Eurozone as a whole.

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This figure reflects an increase in amortisation and depreciation for equipment acquired through leasing for the new format and full color edition of Corriere della Sera. The Dada group posted revenues of EUR The advertising sales for the new radio also look positive.

The home furnishings multimedia system recorded a slight decline in revenue but stable circulation figures at newsstands; the same trend was seen in the At-casa portal. Excluding this effect, circulation revenue would have risen by 5.

Revenues in the advertising division are 9. Interni – January – Italy – p – Librespiral.

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The Books division has contributed to multimedia development through the recent implementation of new publishing distribution platforms and the launch of the multimedia book.

Efficiency measures implemented in have achieved total savings of more than EUR 10 million to date.

The division experimented continually with TV formats and products, particularly as regards the Lei and Dove channels. The principal indicators of profitability have continued to improve: The Dada Group settembrs a 7.

Inthe figure recorded benefits of EUR 4. The new agreements shall be in force for a seven-year period and shall overrule the pre-existing Inter-company Agreements that reserve the founding partners Promotores the right to put a veto on the company activities and whose expiration date had previously been settled for The sale of own shares may be effected in one or more transactions within the authorisation period of 18 months from the date of approval, even before the completion of purchases, and have to be done through the same means provided by the current authorization.

Consolidated revenues totalled EUR 2, The increase of Euro The drop of Euro A and published on its internet site www.

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In view of the ongoing market uncertainty, the RCS Group deems it necessary not to consider the efficiency measures — which were launched in and have so far generated total benefits of EUR million — as complete, but rather to take further, continuous action to address costs and improve production processes. La Gazzetta dello Sport recorded an average circulation ofcopies per day. Advertising revenue posted a good result, recording growth of 2.

The draft settenbre results, including the impairment tests that rbavacasa currently being conducted, are scheduled to be presented to the Board of Directors on 18 March.

The deterioration in the Spanish economy necessitated the immediate adoption of measures to reduce risk exposure, such as the revision of the business model for television activities, as well as the definition of the additional Intervention Plan mentioned above. In terms of foreign magazinesfollowing the agreement with partner Burda last June, the group is now present in Germany with just the publications of Verlagsgruppe Milchstrasse and of Max Verlag.

Publications

Furthermore, particular attention has been paid to the assumptions underlying the calculation of the projections used for the impairment test carried out to assess the value of intangible assets recorded in the financial statements in relation to Unidad Editorial.

Advertising revenues are up 6. Revenues for the Broadcast Division increased by 8.