Rcs Mediagroup

Q1 2016 – Preliminary Results

Euro Million

	Q1 2016	Q1 2015	∆ %
Circulation Advertising Other TOTAL REVENUE	94.7 97.4 27.7 219.8	107.1 96.3 26.0 229.4	(11.5%) 1.1% 6.7% (4.2%)
EBITDA ex Non Recurring Items	(3.4)	(15.5)	78.1%
Non Recurring Items	(0.3)	(0.7)	57.1%
EBITDA	(3.7)	(16.2)	77.2%

NFP	(509)	(508)

NFP Pro forma*	(411)

2014-2016 EBITDA Evolution by Quarter

Costs efficiencies: all the initiatives and efficiencies set out in the Plan have been implemented, while further planned optimisations will enable the company to exceed the annual target of EUR 40/45 million net efficiency gains. 1
2 Launch of metered Paywall on Corriere della Sera
New organizational set-up: aligned with strategy and simplified through elimination/ rationalization of some business areas and through integration of Italy & Spain 3
4 Printing facilities saturation: agreement signed with other newspaper (Il Manifesto), other opportunities under evaluation
5 Gazzetta TV: closure of DTT channel and new editorial TV project on web
6 Veo TV: new lease contract signed (ongoing approval process) that might facilitate asset disposal
7 Gazzetta Gold: launch of new app in April
8 GazzaNet: launch and continuous expansion of the affiliates' network
9 RCS Sport: expansion of running mass events "catalogue"