Mondadori confirms guidance raise on FY core profit margin (updated)

Arnoldo Mondadori Editore

01/08/2023 14:15

(Adds details on FY guidance, H1 results, CEO comment)
       Aug 1 (Reuters) - Italian publisher Mondadori  MOED.MI 
on Tuesday confirmed its full-year profitability guidance raise,
citing positive first-half figures and a favourable trend in
industrial costs.
    Mondadori confirmed a guidance raise already announced in
June, which forecast a high single-digit or low double-digit
increase in its adjusted core profit this year, with margins
expected at between 16%-17%.
    That compared with a previous guidance of a single-digit
growth and a margin of between 14%-15%.
    Adjusted earnings before interest, tax, depreciation and
amortization (EBITDA) came in at 38.2 million euros in the first
six months of the year, up 39% from a year earlier, while
revenues rose 2.1% to 362.4 million euros.
    "The first six months show a general growth in revenues,
thanks to the contribution of our core businesses which
overperformed our expectations at the beginning of the year",
Mondadori Chief Executive Antonio Porro said in a statement.


    
    

    
    

 (Reporting by Luca Fratangelo, editing Federico Maccioni)
 ((luca.fratangelo@thomsonreuters.com; +48587696613;))