While the tug-of-war with the bottom continues Blackstone in the case of the sale of the property in via Solferino, the historic headquarters of Corriere della Sera, the group led by Urban Cairo he rattles off a six-monthly “above expectations” and runs it again in Piazza Affari. Meanwhile, the title of the publishing group holds in Piazza Affari and returns to parity, while the shares are traded at 0.705 euros.
The society closed the first six months of the year in profit, with a net result of 38.7 million compared to the loss of 12 million in 2020. Leap in revenues, which grew by 102.3 million to 421.8 million, with digital ones accounting for 22% of the total . On this front advertising on RCS online media in the half year it grew by 40% in Italy and 48% in Spain compared to the same period; Corriere della Sera, on the other hand, has a total customized digital base active at the end of June 2021 equal to 336 thousand subscriptions. Digital subscriptions are also growing strongly in Spain: 69.5 thousand for El Mundo and 31.7 thousand for Expansion at the end of June 2021.
For Equita analysts, the Corriere della Sera, the results of the second quarter are “higher than expected” and highlight in particular the result of advertising at more than 81%. “The decisive improvement in digital advertising and the group’s ability to record results in Italy and in the Advertising and Sport area above the levels of 2019, improving visibility on the ebitda estimates at the end of the year”, explained the broker.
Meanwhile, the editorial group led by Urbano Cairo, on the case Blackstone and the sale of the building in via Solferino, has made it known that “the conditions for the registration of risk provisions do not exist” in the case, confirming that he has challenged the award to the Milan Court of Appeal.