RCS, adjusted EBITDA positive 5.1 million in the first half, selling radio – Reuters Italy

MILAN, July 30 (Reuters) – RCS closes the first half with a positive EBITDA before exceptional items of 5.1 million from a loss of 4.2 million a year earlier, on revenue down slightly to 591.9 million from 611.1 million.

The group has meanwhile signed the sale of 44.45% of Finelco, holding that controls Radio 105, Radio Monte Carlo and Virgin Radio, the consortium of Italian businessmen Blue Ocean for 21 million Euros plus an additional million related to the fulfillment of certain conditions by the end of 2015.

The company said in a statement stressing that the Board unanimously approved the Strategic Plan 2018 “on the basis of guidelines communicated to the market”, which will be presented in the course of September.

As for the offer of purchase of RCS Books received by Mondadori, the board,” while reserving its decision on the sale of the stake, voted unanimously to authorize the CEO to continue negotiations and in the definition of contractual issues “.

EBITDA for the half year after non-recurring items decreased from 29.2 million to 3 million.

Net financial debt amounted to 526.3 million from 507.5 at the end of March.

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