Chrysler 2007 Annual Report Download - page 87

Publishing and
Communications — Itedi
Revenues rose from 165 million euros in 2006 to 169 million
euros in 2007, largely because of the growth in advertising
products and the like. This compensated for the drop in income
from newspaper sales resulting from the lower number of
subscribers and the fact that the supplement Specchio is now
issued on a monthly basis, rather than weekly.
Publikompass S.p.A. booked advertising billings of 319 million
euros in 2007, down from 332 million euros in 2006. This
decrease stemmed from lower revenues from newspaper,
magazine and television advertising, which was in turn due to
major changes in the customer portfolio in 2007, when several
publications and broadcasters closed down or discontinued
their advertising arrangements.
Report on Operations Itedi86
Operating Performance
In 2007, average daily sales of newspapers in Italy decreased
by 1% over the previous year. This drop was largely the result
of the plethora of other sources of information – radio, TV, the
internet and the free press – and lifestyles that leave less time
for reading the paper.
The Italian advertising market as a whole grew by 2.8% over
2006. Performance by the various media continued to be far
from uniform: while classic media such as standard television,
magazines, newspapers and radio showed modest growth, the
new media grew at double-digit rates, with Internet advertising
increasing by 40% and digital television and free papers by
25%. Cinema advertising dropped for the third year running,
losing 10% in 2007.
Editrice La Stampa S.p.A. reported an average daily circulation
of 308,000 copies in 2007, substantially in line with the
previous year but with a different mix. Subscription sales
dropped slightly, while other initiatives increased.
Highlights
(in millions of euros) 2007 2006
Net revenues 391 401
Trading profit 12 11
Operating result (*) 11 12
Investments in tangible and intangible assets 545
Employees at year-end (number) 809 836
(*) Including restructuring costs and unusual income (expenses).