March 27, 2018 / 8:55 AM / 6 months ago

BRIEF-Il Sole 24 Ore FY Revenue Down At EUR 229.9 Mln, Approves 2018-2021 Business Plan

March 27 (Reuters) - IL SOLE 24 ORE:

* REPORTED ON MONDAY FY NET PROFIT OF EUR 7.5 MLN VS RESTATED LOSS OF EUR 92.6 MLN YEAR AGO

* FY NET LOSS FROM ONGOING OPERATIONS OF EUR 52.6 MLN VS RESTATED LOSS OF EUR 99.8 MLN

* FY REVENUE OF EUR 229.9 MLN VS RESTATED REVENUE OF EUR 265.8 MLN YEAR AGO

* APPROVES 2018-2021 BUSINESS PLAN

* TARGETS 2018 REVENUE OF EUR 223 MLN VS EUR 232 MLN IN PREVIOUS 2017-2020 PLAN

* TARGETS 2018 EBITDA OF EUR 10 MLN VS EUR 11 MLN IN PREVIOUS 2017-2020 PLAN

* TARGETS 2019 REVENUES OF EUR 233 MLN VS EUR 239 MLN IN PREVIOUS 2017-2020 PLAN

* TARGETS EBITDA OF EUR 15 MLN VS EUR 22 MLN IN PREVIOUS 2017-2020 PLAN

* EXPECTS NET FINANCIAL POSITION TO RETURN POSITIVE IN 2020

* TARGETS 2021 EBITDA OF EUR 30 MLN

* FORECASTS FOR 2018-2021 MEET THE COVENANTS RELATING TO THE GROUP’S NET FINANCIAL DEBT

* ACCEPTS A COMPENSATION OFFER FROM DI SOURCE FOR EUR 3.0 MLN, CORRESPONDING TO THE FULL AMOUNT OF THE FINANCIAL DAMAGE ESTIMATED IN THE PENDING TRIAL AT THE COURT OF MILAN

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Further company coverage: (Gdynia Newsroom)

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