As of August 28, 2012, Seat Pagine Gialle SpA was acquired by Lighthouse International Co., SA, in a reverse merger transaction. SEAT Pagine Gialle S.p.A. operates a multimedia platform that offers detailed information and search tools for users, as well as multiplatform advertising methods to advertisers in Italy. Its print products comprise PagineGialle Casa and PagineGialle Lavoro that are directories serving Italian businesses and institutions; PagineBianche, a directory of subscribers to any telephone operator to find contact information and details on businesses; and TuttoCittà, a city map guide to locate a point of interest in an urban area. The company also offers Pagine Gialle Mobil...
Corso Mortara, 22
Turin, TO 10149
Seat Pagine Gialle SpA Reports Consolidated Earnings Results for the Full Year Ended December 31, 2012 and Consolidated Earnings Results for First Quarter Ended March 31, 2013
Jun 27 13
Seat Pagine Gialle SpA reported consolidated earnings results for the full year ended December 31, 2012 and consolidated earnings results for first quarter ended March 31, 2013. For the year, on consolidated basis the company reported revenues amounted to EUR 808.8 million, down 15.5% compared to EUR 956.7 million in the same period last year, revenues decreased by 15.8% on constant exchange rates and number of directories published. Operating result before amortization, depreciation, net non-recurring and restructuring charges (EBITDA) amounted to EUR 296.0 million compared to EUR 370.6 million in the same period last year. Net of the positive impact of the telegate claims, the result was EUR 240.3 million, as a result, compared to 2011 the like-by-like decrease was 35.2%, with operating margin of 29.7% compared to 38.7% for 2011. Operating result was a loss balance of EUR 1,754.9 million compared to a loss balance of EUR 433.0 million for 2011. Loss before income taxes was EUR 1,204.2 million compared to EUR 701.8 million in the same period last year. Loss for the year was EUR 1,058.5 million compared to loss of EUR 789.8 million for 2011, and includes the impairment losses recognized as a result of impairment tests and the financial income related to the equalization transaction made by Lighthouse for a total of EUR 669.7 million. Operating free cash flow generated was EUR 318.3 million decreased by EUR 48.1 million compared to the previous year EUR 366.3 million. Capital expenditure was EUR 46.0 million compared to EUR 48.1 million in the same period last year. At 31 December 2012, net financial debt amounted to EUR 1,327.9 million, down EUR 1.4 billion compared to 31 December 2011, due to the equalization of about 95% of former Lighthouse Notes. Loss from continuing operations was EUR 1,049.6 million against EUR 789 million a year ago. EBITDA was EUR 240.3 million without taking into account the one-off 55.5 million generated by the Telegate litigation, therefore decreasing by 35.2% on a like-for-like basis; including EUR 55.5 million, EBITDA was EUR 296.0 million, down 20.1%.
For the first quarter ended March 31, 2013, on consolidated basis the company reported revenues amounted to EUR 152.9 million, down 18.7% compared to the first quarter of 2013, revenues decreased by 18.5% on constant exchange rates and number of directories published. Operating result before amortization, depreciation, net non-recurring and restructuring charges was amounted to EUR 26.7 million, down 52.0% compared to restated EUR 55.6 million to the first quarter of 2012, also supported by the shift of several costs to the second half of the year in light of the admission to the composition with creditor’s procedure. Operating income was amounted to EUR 3.6 million compared to EUR 29.0 million for the first quarter of the previous year. Operating income reflects the performance of the business reported at the level of GOP and EBITDA. Loss before income taxes was EUR 29.1 million compared to EUR 9.1 million in the same period last year. Loss on continuing operations was EUR 29.7 million against EUR 9.2 million a year ago. Loss for the reporting period was EUR 29.5 million compared to a loss of EUR 9.2 million for the first quarter of 2012. Operating free cash flow generated was EUR 40.7 million decreased by EUR 24.8 million compared EUR 65.5 million to that generated in the first quarter of 2012. Capital expenditure was EUR 7.4 million compared to EUR 7.5 million in the same period last year. At 31 March 2013, net financial debt amounted to EUR 1,336.9 million. EBITDA was EUR 26.7 million, down 52.0%.
Seat Reportedly Puts Up Telegate Stake For Sale
Jun 26 13
Seat Pagine Gialle SpA (BIT:PG) could put up for sale its stake in Telegate AG (XTRA:TGT) as part of an asset sales plan intended to help Seat avoid bankruptcy, agency Radiocor reported on June 25, 2013 without naming sources. According to Radiocor, Seat's Board of Directors will approve on June 27, 2013, along with the 2013-2018 industrial plan, the document with which the company will request a special procedure so as to avoid bankruptcy.
Seat Pagine Gialle SpA, Annual General Meeting, Jul 25, 2013
Jun 7 13
Seat Pagine Gialle SpA, Annual General Meeting, Jul 25, 2013. Agenda: To approve the Annual Financial Statements as of December 31, 2012.