- Between January and June, the Group posted revenues of EUR 388.2 million, a 26.8% improve in comparison with the primary two quarters of 2021 (+6.3% PRISA Media and +53.7% Santillana).
- The Group’s EBITDA, excluding severance payouts, has climbed by an element of two.8, reaching 49.7 million within the first half of the 12 months.
- Digital enterprise continues to develop, with digital revenues now accounting for 35% of the Group’s whole.
- Santillana has practically 2.5 million subscription-model college students in Latin America (+33.3% in comparison with June 2021)
- EL PAÍS reaches 219,832 subscribers, of whom 179,626 are solely digital (+65% in comparison with June of 2021). It clocked up 79 million streaming hours (+19%) and 47.5 million podcast downloads (+51%).
- As of June 30, the corporate’s money steadiness was EUR 126 million euros, with an extra EUR 103 million in restricted money
- The Group reported a damaging web results of EUR 14 million, which represents an enchancment of 75.1% when in comparison with the 56.2 million loss seen within the first half of 2021.
PRISA’s outcomes have been buoyed by considerably improved enterprise efficiency, continued digital momentum and an promoting growth through the first half of the 12 months, regardless of the unsure surroundings attributable to the struggle in Ukraine. The Group’s second-quarter income was EUR 177.6 million euros (+20.2%), and was EUR 388.2 million for the primary six months of the 12 months. This represents a rise of 26.8% in comparison with the identical interval of the earlier 12 months.
PRISA’s chairperson, Joseph Oughourlian, stated “the 12 months’s second quarter has been a fancy interval and a time of socioeconomic uncertainties. The complete repercussions stay unclear and we should keep a cautious outlook with regard to the remainder of the 12 months. Nonetheless, the Group’s outcomes are testomony to the sturdy efficiency of our companies, each in Media, the place now we have carried out exceptionally effectively each domestically and in Latin America, and in Schooling, which continues to develop. That is why, regardless of the geopolitical uncertainties, we see no motive to reappraise the targets we have set for the tip of the 12 months, which foresee revenues of between 770 and 800 million euros, with an adjusted Ebitda margin within the area of 15 to 17%”.
Oughourlian added: “We proceed to work on the roadmap that we introduced in March as a part of the strategic plan that has only in the near past been endorsed by shareholders. It is a plan for progress, targeted on the companies, on digital transformation and on sustainability throughout the corporate. And though we mustn’t lose sight of our debt, upon which we’re focusing all our efforts on decreasing within the coming years, I’m satisfied of the power of PRISA, and of the potential of its companies, its manufacturers and its professionals”.
Over the primary half of the 12 months as a complete, the Group continued to report progress in revenues and EBITDA because of improved enterprise efficiency. The post-pandemic return to highschool normality in Latin America, the place Santillana operates, in addition to the expansion of digital subscription fashions (EdTech) have boosted the accounts of the Group’s schooling division. PRISA Media, in the meantime, continues to take care of the optimistic pattern seen in latest quarters regardless of latest geopolitical and financial uncertainties. Thus, the Group’s media division continues to consolidate its lead within the markets the place it operates, supported by income from promoting and the sturdy efficiency of EL PAIS’s paywall mannequin, which continues to see regular subscriber progress.
Group income reached EUR 388.2 million between January and June, which is 26.8% greater than in the identical interval of the earlier 12 months. The Group’s dedication to digital transformation has seen the contribution of digital revenues to the corporate’s income proceed to climb, up by 30% and now accounting for 35% of the entire.
EBITDA, excluding severance payouts, reached EUR 49.7 million between January and June, 2.8 occasions greater than the determine only a 12 months in the past. The Group reported a damaging web results of EUR 14 million for the primary two quarters. However improved efficiency has enabled the Group to partially offset the influence of monetary prices. Certainly, EBITDA is up by 75.1% when in comparison with the 56.2 million in losses seen within the first half of 2021.
Change charges had a optimistic influence – to the tune of EUR 13.4 million – on revenues within the first half of the 12 months, thanks mainly to the revaluation of the Brazilian actual and the Mexican peso. However by way of EBITDA the influence was damaging: EUR 800,000.
The Group’s web financial institution debt stood at EUR 833.5 million as of June 30, in comparison with the 756.1 million with which it closed final December, primarily on account of the acquisition of the package deal of shares from Radio’s minority shareholders.
The brand new monetary tradition applied throughout the corporate, targeted on operational enchancment and the optimization of liquidity, has led to an enchancment in money technology, excluding extraordinary objects, of EUR 19.5 million in comparison with the primary half of 2021. The whole money stream has been affected, nonetheless, by the extraordinary prices derived from the acquisition of the package deal of shares from Radio’s minority shareholders and refinancing bills, leaving a damaging steadiness of EUR 65.1 hundreds of thousands.
The corporate continues to work with a watch on liquidity and, as of June 30, the money steadiness was EUR 126 million, with an extra EUR 103 million in restricted money.
The Schooling division recorded second-quarter income of EUR 74.1 million, which is 49% greater than between April and June 2021. The return to highschool normality in Latin America and the corporate’s agency dedication to a digital schooling mannequin (EdTech) has enabled Santillana to proceed consolidating its progress. Over the six months as a complete, Santillana’s income grew by 53.7% in comparison with a 12 months earlier, for a complete of EUR 202.5 million.
Santillana’s EBITDA, excluding severance payouts, was up by an element of two.6 through the first half of the 12 months, reaching a complete of EUR 38.6 million. Within the second quarter, gross working outcome, excluding severance payouts, was damaging EUR 6.6 million. However, this determine represents an enchancment of 30.4% in comparison with the identical interval in 2021. It must also be borne in thoughts that the second quarter just isn’t a decisive one because of the seasonality of the enterprise.
The private-education sector division, on the forefront of digital transformation (EdTech), is the driving drive behind Santillana’s enterprise, and accounts for 70% of its whole gross sales. On the finish of June, Santillana already had 2,494,000 subscribers, which represents a rise of 33.3% in comparison with the primary half of 2021 and a 26% rise since December. These figures verify Santillana’s management in Latin America and it’s the solely platform current in 19 international locations on the continent.
The Group’s media division continues to develop. Second-quarter revenues reached EUR 103.7 million, which represents a rise of 5.6% in comparison with the identical interval of the earlier 12 months. For the primary half of the 12 months, earnings grew by 6.3% to whole EUR 186.2 million.
PRISA Media’s EBITDA, excluding severance payouts, was EUR 14.3 million within the first two quarters, which represents a rise of 69.4% in comparison with the identical interval of the earlier 12 months. Second-quarter EBITDA was EUR 14.4 million, 8.7% extra in comparison with the second quarter of 2021.
Two elements are behind these figures: promoting and a agency digital dedication. Promoting accounts for 76% of whole earnings and within the first six months as a complete such income was up by 6.5%, remaining optimistic between April and June (+3.3%). Regardless of the uncertainty attributable to the disaster ensuing from the struggle in Ukraine, promoting has carried out consistent with expectations in Spain and has proven extraordinary progress in international locations akin to Colombia, because of the continued progress of the Group’s market share.
Circulation additionally drives PRISA Media’s revenues, accounting for EUR 27 million through the first two quarters, which represents year-on-year progress of three.2%, thanks particularly to the expansion of digital subscriptions to EL PAÍS. The newspaper has a complete of 219,832 subscribers, of whom 179,626 are solely digital. Within the first half of the 12 months, the paywall mannequin welcomed an extra 43,100 new subscribers. Thus far this 12 months, the variety of whole subscribers has grown by 45% in comparison with the primary half of 2021, whereas the variety of digital subscribers has elevated by 65% year-on-year. In the meantime, sports activities newspaper AS continues to guide the world marketplace for sports activities media, with near 100 million distinctive browsers and a powerful presence in Spain, the USA, Colombia and Mexico.
A dedication to digital audio continues to repay. PRISA Media clocked up 47.5 million podcast downloads within the first six months of the 12 months (+51%) and 79 million hours of streaming (+19%). These figures consolidate PRISA’s place because the world’s prime producer of Spanish-language audio.
Radio continues to strengthen its lead. With 9,294,000 day by day listeners in Spain, PRISA Media is the Group with the best attain within the nationwide market, reaching 40% of the entire radio viewers, and with a broad lead over its opponents, in accordance with the newest knowledge made obtainable by the Basic Media Research (EGM). The Group’s radio stations additionally take pleasure in a transparent lead in Colombia and Chile. In Mexico, Radiópolis additionally has reported glorious outcomes.
A dedication to Sustainability
The Group continues to make good on its dedication to integrating sustainability all through the corporate. Within the first quarter of the 12 months, the Group introduced the creation of a brand new Sustainability Committee throughout the Board of Administrators, and appointed Rosa Junquera to the submit of Chief Sustainability Officer. In latest months, the corporate has targeted on growing the group’s administration technique, a highway map linked to the United Nations Sustainable Improvement Objectives.
PRISA has had a powerful dedication to sustainability because the very outset. It has been a part of the UN World Compact since 2008, joined as a associate in 2013 and has sat on the Steering Committee of the Spanish Community since 2016. This June PRISA was honored with the Contigo Somos+ award, which acknowledges World Compact companions which have efficiently attracted new members to the community, whereas contributing to the dissemination of the Sustainable Improvement Objectives (SDGs).
As well as, the Group is notably current in several indexes linked to ESG standards such because the FTSE4Good and the MSCI. And just lately, the BME Technical Advisory Committee accepted PRISA’s inclusion within the IBEX Gender Equality Index, an index made up of the 45 listed corporations to have the best feminine presence, each on their board of administrators and in senior administration.