Last year De Persgroep remained stable in a difficult market. Turnover was € 930 million, compared to € 932 million in 2010. Despite the inflationary pressure on costs, the group’s EBITDA was € 143 million - only 2% less than in 2010 - and its net cash flow was € 117 million (2010: € 107 million). The net result amounted to € 40 million (2010: € 34 million). After amortisation of goodwill, the group reported a net profit of € 70 million.
Publishing activities in Belgium and the Netherlands performed very well. Although the advertising markets were under pressure, the 2010 results could be matched thanks to a slight growth in the readers’ market and a sustained commitment to operational efficiency. The publishing EBITDA closed at € 112 million.
The result for the audiovisual section fell slightly following mainly one-off costs for the television activities in Belgium. The EBITDA for these activities decreased slightly to € 31 million.
The balance sheet for De Persgroep closed 2011 with a € 50 million net financial cash position and €235 million in equity.