An integrated plan that ensures the new group growth between now and 2018. It is the one contained in the business plan from 2017 to 2018 by Cairo Communication, the group Urbano Cairo, on June 17, the occasion of the relaunch of public exchange offer in April on the totality of the RCS MediaGroup shares.
the market scenario in which you place the Cairo Plan sees advertising go up by 2% annually from 2016 to 2018 , with the television on the rise, but more moderate (+ 1% per annum) and the newspapers and magazines still down 4.5% (but in the same market segment, an increase of 2% in Spain). Online advertising, as expected, is expected to grow by 8% in Italy and 12% in Spain.
As for the own group, Cairo underlines how, in the weekly magazine, while dropping the market (recently less than twelve million copies sold in 2003 to six million in 2015), the Cairo Editore share is constantly rising, up to 28.6% last year (it was 22.1% in 2010). In 2016, then, will be launched two new magazines, one of which will Enigmistica more, which should generate a 10% growth in sales in three years.
The group expected to achieve the best performance in the television sector in this case reversing the trend compared to previous years (net revenues fell from 120 million to 108 million from 2014 to 2015, and audience share on television advertising market in year-on-year in the last two years). The gross advertising revenue of 140 million in 2015 is expected to rise to 196 in 2017, thanks to the launch of two new TV channels. The acquisition of a national digital multiplex in 2014, as the only participant in the government auction, will, from 2015 to 2018, a significant cost reduction: the first group of channels had to buy transmission capacity from a third network operators. In addition, Cairo Communication sees the television advertising market recovery, grew by 6% in the first quarter of this year. It should be added that the 7, in particular, will have to face in the near future, competition from aggressive subjects, such as Sky by the number 8 on the remote and Discovery from 9: Maurizio Crozza not surprisingly, one of the strengths of the network tv Cairo went to Discovery group.
In any case, Cairo Communication foresees a growth in EBITDA from 17.6 million in 2015 to about 46 in 2018. as for investments, particularly strong in what rights television, to about 45 million in the biennium 2017-2018, including an investment in the LCN (Logical channels Number) that signals the intention to improve the position of its channels (La 7, 7d, for now) on the remote control of the Italians.
In the Plan, among other things, missing projections for 2016 are only those of 2017 and 2018.
So far the Cairo group. Concerning a possible new integrated Cairo-RCS Group, in addition to the cost reduction and the synergies with Cairo Communication, it provides for the joint production of periodicals of the two groups, improving the saturation of print shops: in the business plan of RCS 2016-2018 is It notes that the dissemination of printed copies has declined faster than the hourly production capacity.
it is focusing on the events and sports rights, doubling the revenue of the tour of Italy, the competition of which RCS is the owner and organizer , although it is unclear how, if that is moving it from the other broadcaster RAI to air or pay. The business periodicals in Spain would see the Italian approach replication with familiar test, popular, low-cost (which in that country so far have not broken through).
The new integrated group, according to the Plan Cairo, should rise from 1.27 billion in revenue in 2017 to 1.34 in 2018, with EBITDA growth over the same period, 172 million to 215 million,
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