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Spanish media

Education saves PRISA group of major losses in 2012

The education sector revenue of PRISA group, leading Spanish media, helped reduce his strong and repeated annual losses, which in 2012 amounted to 255.03 million euros, after provisioning near 306 million impairment of goodwill and intangible assets, largely for football, like debt, still over 3,000 million.

 As reported yesterday in the CNMV, Education continues to show growth on the back of strong educational campaigns in Latam. Education and PayTV (subscribers) revenues account for 65% of revenues, the firts showing a strong contribution (27% of revenues), with similar performance practically across the board in Latam and a weaker performance in Spain.

Positive top line performance (+1.8%) with strong education campaigns practically across the board: Mexico  +17.6% revenues (with strong contribution from Education systems  +123%,  USA  +41%, Argentina +20.6%,  Ecuador +23.3%,  Peru +129.4%, Brazil weaker given natural cyclicity (-11% at constant currency with EBITDA down  by 9.7%) Venezuela weaker, (0.9% compared to the -6.6% of 9M 2012). Spain Revenues fall by 8.9%, Education (-3.3%) General Publishing (-22.3%) and EBITDA up 7.7%, with EBITDA margin growth, from 24.1% in 2011 to 25.5% in 2012.

Of interest