Roularta: posts higher revenue and profit for 2019
(CercleFinance.com) - Belgian publisher Roularta reported on Friday higher sales and operating profit for 2019, saying that the strategic choices it made in 2018 demonstrated their "full effect" last year.
Roularta's earnings before interest, tax, depreciation and amortisation (EBITDA) rose from 6.3 million euros in 2018 to 23 million euros in 2019.
The publisher and broadcasting group said consolidated revenue for 2019 increased by 6.8%, to 295.8 million euros, mainly due to the acquisition of women's brands in 2018, which made a positive contribution to sales.
The now debt-free company - which enjoyed a cash position of 95.9 million euros at the end of 2019 - said the outlook for subscription income in 2020 remained "positive".
The group - which produces a large number of magazines each week for Belgium, France and the Netherlands - said, however, that advertising revenue remained "highly volatile" for print activities, audiovisual media and internet activities.
Its shares were up 3.4% on Friday morning, almost mirror imaging a 3.6% drop in Belgium's BEL 20 index.
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