Italy · Delayed Price · Currency is EUR Arnoldo Mondadori Editore Earnings Call Transcripts
Fiscal Year 2025
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Adjusted EBITDA exceeded EUR 158 million in 2025, with strong retail and digital growth offsetting print declines. Market share gains in trade and educational books, a 10% dividend increase, and a robust efficiency plan support positive 2026 guidance.
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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.