October 3, 2016 / 12:17 PM / 10 months ago

BRIEF-Il Sole 24 Ore H1 net loss widens to EUR 49.8 mln

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Oct 3 (Reuters) - Il Sole 24 Ore SpA :

* Reported on Friday H1 revenue 151.8 million euros ($170.50 million) versus restated revenue 165.4 million euros a year ago

* H1 net loss 49.8 million euros versus restated loss 11.7 million euros a year ago

* H1 EBITDA loss 19.7 million euros versus a restated loss 2.8 million euros a year ago

* Said a difference in H1 EBITDA can be mainly attributed to the drop in revenue, lower operating income and non-recurring charges of 8.7 million euros, of which 5.5 million euros are related to restructuring costs

* Board approved the guidelines of the 2016-2020 business plan

* Plans to reach a positive EBITDA from 2017 and a profit in 2019, with a 10 percent EBITDA margin in 2020

* Plans a share capital increase to make the business plan financially self-sufficient

* Said that the lenders are willing to restructure the debt and that its majority shareholder is willing to consider a share capital increase

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Further company coverage:

$1 = 0.8903 euros Gdynia Newsroom

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