Vocento registers €26.7 million loss

Iñaki Ferreras | 16-11-2012

Spanish Net TV's Grupo Vocento, which also publishes the national newspaper ABC, registered a loss of €26.7 million in the first nine months of 2012, up 53% on its losses in the same period last year.

During this period Vocento's revenue fell by 12.8% to €449.5 million, while gross operating profit (EBITDA) amounted to €17.9 million, a 216.8% increase over the same period in 2011. However, the group clarifies that, excluding extraordinary items - such as the cost of its restructuring or the closure of the print edition of its free newspaper Qué!, which had an impact of €19.1 million - the result is a loss of €12.2 million, 16% less.

The company also noted that, discounting these extraordinary items, the recurring EBITDA amounted to €21.8 million, €0.9 million less than in the same period last year, and noted that this has followed a tendency for growth quarter after quarter, according to Europa Press news agency.
The company's net operating profit (EBIT) fell €8.5 million, down 34% compared to the first nine months of 2011, when it was down €12.9 million.

The group attributed these results to the difficult economic climate which is hitting the sector, especially the media.

The company also noted that the group's costs were down 13.2% through September, allowing it to absorb virtually all of the fall in turnover and improve profitability, especially in ABC, ABC Television and Punto Radio. By business area, the average income in EBITDA stood at €289.5 million, down 12.%; in the audiovisual division it was down 22% at €74.5 million, the internet was down less than 1% at €40.4 million, and other businesses stood at €133.1 million, up 7%.

Vocento has hired its DTT frequencies to Disney Channel and Discovery MAX, both as in-the-clear services.