The media group Impresa reported a consolidated net negative result of 5.1 million euros for the first half of the year, compared to a loss of four million euros in the same period of 2024.
The adjusted net result, excluding restructuring costs, was a negative 3.9 million euros, mirroring the figure from the first half of 2024.
From January to June, revenues decreased by 0.8% to 85.9 million euros.
“Increased revenues from content sales, channel distribution, and digital subscriptions partially offset the decrease in advertising and IVR [value-added calls] revenues,” the Impresa group stated in a communication to the Comissão do Mercado de Valores Mobiliários (CMVM).
The EBITDA (earnings before interest, taxes, depreciation, and amortization) fell by 35.5% to 2.9 million euros.
“Despite a 7.3% reduction compared to the same period in 2024, the recurring EBITDA, adjusted for restructuring costs, was higher than in the first halves of 2023 and 2022,” the media group noted.
Operating costs, not accounting for amortizations, depreciations, provisions, and impairment losses on non-current assets, “increased by 1.1%, impacted by restructuring costs within the current strategic cost reduction project.”
At the end of June, “net remunerated debt stood at 148.2 million euros, reflecting an increase of 3.8% compared to the end of June 2024.”
Television segment revenues fell by 1.1% to 73.8 million euros. “Nonetheless, the growth in revenues from content sales and channel subscriptions, reflecting a diversification effort, partially compensated for the reduction in advertising revenues.”
Operating costs “increased by 1.7%, driven by costs associated with content sales and, primarily, restructuring costs.”
Recurring EBITDA was 3.7 million euros, a decrease of 21.8% compared to the same period of 2024, a year when advertising revenues benefited from Rock in Rio and the 2024 European Football Championship.
In the television segment, EBITDA dropped by 43.6% to 2.6 million euros.
In the Publishing segment, revenues reached 10.9 million euros, down 2.5% from the first half of 2024.
Regarding costs, there was “an increase of 0.2 million euros [-1.8%], justified by restructuring costs.”
EBITDA decreased by 55.8% to 400,000 euros, and recurring EBITDA fell by 29.8% to 600,000 euros.
Infoportugal “achieved operating revenues of 1.2 million euros, representing an increase of 39.4% compared to the first half of 2024, due to a rise in cartography services.”
In terms of consolidated results, “costs in this segment decreased by 27.5% to 1.2 million euros,” and recurring EBITDA was positive at 100,000 euros.
