Prisa’s Profit Falls by 39%

Spanish media group Prisa (PRS:Madrid stock exchange) posted 2009 operating profit of 369 million euros ($498 million), nearly half the 698 million reported in 2008, as a deep recession hits its revenues.

The ailing owner of newspaper El Pais said full-year net profit fell to 50.5 million euros from 83 million, mainly as a result of a decline in advertising revenues which has slammed the entire sector.

Prisa's advertising revenues fell 15 percent in 2009.

Prisa reiterated on Wednesday that it is in talks with potential investors to strengthen its capital, adding it was finalising an agreement with creditor banks to restructure its debt, some of which comes due in March.

Prisa has been restructuring its business in the hope of paying down some of a debt burden which will be around 6 times EBITDA in 2009.


Trackback from your site.

Editorial Staff

Portada Staff

MORE FROM PORTADA

Meltwater’s Ana Hoyos: “We See Great Potential for AI Expansion in Latin America”

Meltwater’s Ana Hoyos: “We See Great Potential for AI Expansion in Latin America”

The social media landscape is changing at an accelerated pace; artificial intelligence is acquiring a prominent role and companies have to adapt to survive. We talked to Ana Hoyos, area director at Meltwater Latin America, about the recent acquisition of Sysomos and what it means for social media analysis.


Loyalty, Brand Preference and the Economy Segment Traveler  

Loyalty, Brand Preference and the Economy Segment Traveler  

With the tremendous growth of economy segment hotels and low-cost air carriers, hotel and travel companies as well as the airlines, have begun to take notice and adapt to this expanding segment of travelers. To ensure that their brands stand out and become the best choice for these travelers, players in the travel industry are delving deeper into loyalty, personalization and brand preference in the economy travel segment.


Gatorade’s Jill Leccia: “We Promote Sports Within Young Soccer Players and Document Their Amazing Stories”

Gatorade’s Jill Leccia: “We Promote Sports Within Young Soccer Players and Document Their Amazing Stories”

Jill Leccia, Gatorade Sr. Director of PepsiCo Latin America Beverages, talked to Portada about the process of creating a global marketing campaign that's also aware of consumer's individual needs. Today it is more important than ever for brands to connect with consumers at a personal level while keeping local idiosyncrasies in mind but within a global context.