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Vocento Social

Results for January-September 2010

Vocento improves EBITDA 11.3 million euros, 60.5% more than in the same period in 2009 reaching 30 million euros

  • All areas have improved EBITDA, thanks to cost reduction efforts of 34 million euros (-6.4%).
  • Advertising spend on the Internet and in the Audiovisual area is growing, and combined represents almost 20% of the group's total advertising revenues.
  • Internet: advertising revenues increase by 25.5% (market up 14.9%), with leadership of audiences.
  • NET TV: revenues up 48%, La 10 launched.
  • Vocento maintains its solid net financial position, which is supporting the implementation of its business model.

Madrid, 12 November 2010.-. In the first nine months of the year, Vocento obtained an adjusted EBITDA of 30 million euros, an increase of 11.3 million euros, and 60.5% more than in the same period of the previous year. Profitability increased in all areas, thanks to the group's strategy of optimising and reducing costs, with costs cut by 34 million euros (6.4%) in the period.

At the same time, the brand strategy of Vocento has resulted in an increase in advertising revenues in the Internet and Audiovisual areas, which combined now represent almost 20% of the group's total advertising revenues. On the Internet, where Vocento remains the leading media company in Spain in terms of audience, advertising revenues rose by 25.5%, ahead of the 14.9% growth of the market,
according to a report by i2p. Meanwhile, at NET TV advertising revenues increased by 48%.

In this period, as a result of the positive performance of operating profit and the improved profitability of all areas, net income improved by almost 5 million euros from the comparable figure in the same period in 2009.

In spite of the current economic conditions, which have had a particular impact on the media sector, Vocento maintains a solid net financial position, with net debt of 109.6 million euros and cash of 71.5 million euros. This enables the company to implement its business model from a strong financial situation.

Results by business area

In Print Media, adjusted EBITDA increased by 50.2% to 24.4 million euros. A particular highlight is the positive trend at ABC, which recorded a 2.4% increase in circulation sales and a 24% increase in advertising revenues, while cutting its total costs by over 6 million euros in the period. In the first nine months of the year, ABC had average circulation of 251,818 daily copies, cutting the gap to its closest competitor to just 21,596 copies in September.

Elsewhere, the Regional Press has maintained its undisputed leadership of the market, with market share of 26.1%, and has improved its adjusted EBITDA margin to 16.8%. The Supplements and Magazines area has recorded a 13.1% rise in advertising revenues, and a 4 million euro improvement in EBITDA. At the Free Press, despite the fall in advertising, EBITDA improved by 34.7% thanks to the cost reduction efforts.

Revenues in the Audiovisual area increased by 3.9%, thanks to the strong performance of the national television business. NET TV, which reported total audience share of 4.2% in September, has increased its revenues by 48%. September saw the launch of La 10 and MTV, completing the strategy for the Net TV multiplex. The Audiovisual area now provides 8 million euros of EBITDA, an improvement of 19.4%.

Advertising revenues on the Internet increased by 25.5%, significantly outpacing the market, which grew by 14.9% in the same period, according to i2p. These advertising revenues now represent over 11% of Vocento's total advertising revenues. There was an especially significant rise of 39.8% at Classifieds, which account for 30.1% of the total advertising sales of the Internet area. The increase in revenues, and the cost optimisation measures, led to an improvement in EBITDA of 2.8 million euros, or 78.9%, and the area is now close to profitability.

Once again, Vocento remains the leading media company on the Internet, with an audience of more than 10 million users in October, and an increase in unique monthly users of 8%, according to Nielsen NetView data.


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 and regional brands, and its permanent commitment to innovation, enable the company to extend its reach beyond its competitors, covering over 28 million people, according to the EGM. For more information, go to Vocento.com.