(Alliance News) - The board of directors of Cairo Communication Spa on Thursday reviewed and approved the half-year financial report as of June 30, 2023, which closed with a net profit attributable to the group was about EUR15.9 million from EUR11.3 million in the first half of 2022.

In the first half of the year, the group confirmed consolidated gross revenues at EUR599.2 million from EUR598.6 million in 2022.

The group confirmed revenues and achieved higher margins than those achieved in the comparable period of 2022. RCS also achieved margins - Ebitda, Ebit and net income - up from those achieved in the comparable period of 2022. Corriere della Sera confirmed "excellent" newsstand circulation levels and continued its digital growth.

The La7 television publishing sector and network operator achieved high audience levels for the La7 channel, with 3.4 percent in total daytime and 4.6 percent in prime time. Advertising sales on La7 and La7d channels totaled approximately EUR74.6 million, up from EUR73.4 million in the first half of 2022.

In particular, in the six-month period, La7 was the sixth network in terms of prime time ratings, fifth in February with 4.32 percent and in March with 4.87 percent.

Ebitda and operating income were EUR80.2 million and EUR41.1 million, respectively, when they were, respectively, EUR69 million and EUR31.3 million in the comparable period of the previous year.

Consolidated net debt as of June 30, 2023 was approximately EUR47 million, from net debt of EUR15.2 million at the end of 2022.

Cairo Communication's stock is down 1.2 percent at EUR1.73 per share.

By Maurizio Carta, Alliance News reporter

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