Go to content
Vocento Social

Vocento outperforms the advertising market and increases EBITDA in Print Media and Internet

  • Consolidating its online leadership in the media sector, with online advertising revenues up 14%
  • Internet and Audiovisual represent 26.8% of group revenues, 2.9 percentage points more than in the first half of 2010
  • In this cyclical uncertainty, Vocento maintains its solid net financial position, clearly differentiating it from the rest of the sector


Madrid, 29 July 2011.- The advertising revenues of Vocento outperformed the advertising market in the first half of the year, despite the difficult market conditions. In addition, the company has continued to improve the profile of its revenues, which totalled 361.6 million euros in the first half. Internet and Audiovisual represented 26.8% of group revenues, 2.9 percentage points more than in the first six months of the previous year. The adjusted EBITDA of the group rose to 24.3 million euros in the period, reflecting the operational gearing that has been established and the continued cost controls in all areas.

A highlight was the performance of Internet advertising revenues, which increased by 13.9% (compared to the market growth of 12.3%), with Vocento consolidating its leadership of media groups on the Internet, with more than 8 million users, according to Nielsen NetView.

Elsewhere, despite the fall in advertising in the sector, the print media of Vocento outperformed the sector, recording a 8.5% decline compared to the 11.7% decline of the market. The brand-based strategy of Vocento, and its operational gearing, enabled the Print Media area to end the first half with a higher level of adjusted EBITDA than in the previous year, with a 6.6% rise to 24.8 million euros. In the Internet business, the online leadership and the group's commitment to the area have resulted in break even, with adjusted EBITDA of 1.5 million euros, compared to 0.2 million of losses in the first half of 2010.

Vocento maintains a solid net financial position, with net financial debt of 114.3 million euros and cash of 52 million euros, clearly differentiating it from other groups in the sector.

Results by business area

In Print Media, a highlight was the strong performance of ABC, the only national daily to increase its market share, in both circulation and advertising. Its average circulation in the first half of the year was 241,963 copies, and it ended the period with a -1.6% decline in kiosk sales, compared to the -13.3% fall for its competitors. In addition, ABC also outperformed the market in advertising, with a decline of -7.8% compared to -11.7% for the market, according to InfoAdex.

ABC.es reached 3 million unique users and provided 9.1% of the total advertising revenues of ABC. In the first half, ABC improved its adjusted EBITDA by 4.1 million euros, thanks to cost reduction measures and the improvement of its market share in both circulation and advertising.

In the regional press, Vocento maintained its undisputed leadership, with market share of 25.3%, and outperformed the market in advertising (-9.2% vs. -11.7%). It was able to absorb more than 2/3 of the fall in advertising with cost savings, which enabled the business to maintain its profitability, in terms of the EBITDA margin, at 16.9%.

In the supplements and magazines area, Vocento continues to be the leader, with XL Semanal and Mujer Hoy. The free daily Qué! also improved its EBITDA by 0.4 million euros.

In Audiovisual, revenues increased by 12.6% to 68.5 million euros, due to the development of the nationwide DTT business, which now has a combined audience for the Net TV multiplex of over 4%, and also due to the increase in revenues from the Content area. Punto Radio has consolidated the coverage of its network, with 8 new broadcasters in Andalusia and 3 licenses in the Canary Islands.

Internet again demonstrated its growth potential, with a 13.9% increase in advertising revenues to 16.6 million euros, and an improvement in EBITDA of 1.7 million euros, to a positive level of 1.5 million euros. Internet now represents 13.9% of the advertising revenues of Vocento, 2.3 points more than in the first half of 2010, and the business outperformed the market, which grew by 12.3%.

Vocento once again confirmed in the period its leading position on the Internet, with an audience of more than 8 million users, the number one media company in the ranking and the number seven company in the total ranking of Nielsen NetView, according to the latest data published in June 2011.

Vocento

Vocento is a leading multimedia company in Spain, thanks to the strength of its brands, which have a significant presence in all areas of information and entertainment, including the press, supplements, magazines, television, radio, audiovisual production, movie distribution, and the Internet.

The strength of Vocento's nationwide, regional and local brands, and its permanent commitment to innovation, enable the company to extend its reach beyond its competitors, covering almost 35 million people, according to the EGM. More information at www.vocento.com.

Back