Roularta - FY23 - Cost pressures remained strong
Sales down 5.7% due to a difficult advertising market, but better than H1.Cost inflation remained strong. Gross margin increased to 81.3%. EBITDA comes in at EUR 21.6m (-28% YoY) or a 6.7% margin (vs. 8.8% margin in 2022).Net profit lands at EUR 2.4m. Optional DPS proposed at EUR 1.00/share.Roularta is cautiously optimistic for 2024. The concession distribution for magazines will be the bigger question mark in 2024.We put Roularta ‘Under review' while we review our estimates.More details in our Note published this morning.Roularta Media Group NV (RMG) is a Belgium-based company engaged in the publication and printing of news and magazines, newspapers and free sheets, as well as in the audiovisual media and electronic publishing. For the wider public, RMG produces free sheets, open network television (TV), radio and the Vlan.be Internet site. For special target groups, RMG produces magazines, a news TV station and portal sites. Its printed media business includes the sale of all printed publications, such as free sheets, newspapers, magazines, newsletters, books and related services. its audiovisual media business comprises advertising on TV and radio, production and broadcasting, as well as all related services. In addition, through bvba Bright Communication and bvba Bright Communication Antwerpen, the Company organizes STERCK. networking events and publishes STERCK. magazine.
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