Italy · Delayed Price · Currency is EUR Arnoldo Mondadori Editore Earnings Call Transcripts
Fiscal Year 2026
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Trade and education segments performed in line with or above expectations, with digital and retail channels showing strong growth. Guidance for the year is confirmed, supported by recent acquisitions and market stabilization, especially in e-commerce and digital.
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Revenue grew nearly 4% in Q1 2026, driven by digital and trade book segments, despite logistics challenges. Adjusted EBITDA and net profit declined due to education and media pressures, but full-year guidance for growth and stable profitability is confirmed.
Fiscal Year 2025
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Adjusted EBITDA reached €158M in 2025, with strong retail and digital growth offsetting declines in print. Market share rose to 28.3%, and a 10% dividend increase is proposed. 2026 guidance targets single-digit growth and continued efficiency improvements.
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Trade and retail segments outperformed a weak market, with strong book launches and e-commerce recovery driving growth. Education gained market share, and guidance for low single-digit EBITDA growth is reaffirmed. M&A in digital business is in advanced stages.
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Book market value fell 5% in H1 2025, but recent weeks show a reversal with group publishing outperforming the market. Revenues and adjusted EBITDA remained stable, and full-year guidance projects low single-digit growth and stable profitability.
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Q1 2025 results align with guidance despite a weak start from lost public funding and concessions. Trade and digital segments show resilience, with margin and cash flow targets reaffirmed. Market recovery is expected in H2, supported by a strong publishing plan.
Fiscal Year 2024
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Revenue grew nearly 4% year-over-year, led by trade books and retail, with adjusted EBITDA up 3%. Net profit declined due to prior-year non-recurring gains, but adjusted net profit was stable. Full-year guidance is confirmed, with strong cash flow and profitability maintained.
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H1 2024 saw revenue and adjusted EBITDA growth, driven by trade books, retail, and digital, with profitability nearing 11%. Strategic acquisitions and digital expansion strengthened market leadership, while full-year guidance for revenue and cash flow was confirmed.