Impresa profits tumble 91.4%

 In Companies, Media, News

Profits at Portuguese independent media group Impresa fell 91.4% in 2022, but its debt also fell, although expenses rose.

The company which owns SIC TV, SIC International, SIC Notícias, Expresso, SIC Caras and other online, physical, and digital news and entertainment platforms, saw a net profit of €1.1 millions.
Cyber attacks, higher energy costs, coverage of the war in Ukraine and investments in SIC programming were the reasons why expenditure rose.
Although the result was in profit, it was a fall of 91.4% on profits of €12.6 million in 2021.The EBITDA was 16.8 million, a reduction of 45.5% on 2021, while taking into account restructuring costs, the adjusted EBITDA was €19.1 million, a decrease of 38% on 2021.
Total revenues at the media group led by Francisco Pedro Balsemão were €185.2 million, a reduction of 2.6% compared to the year before. This was Impresa’s second best result in terms of turnover in the last five years, while advertising revenues grew 0.2%, and operational costs rose 5.7% to €168.5 million.

Image: Courtesy of ICPT