Prisa note Latam currencies weakness in its results to March – Investing.com Spain

MADRID (Reuters) – Prisa (MC remained in the profit zone in the first quarter of 2016, although he noted the weakness of Latin American currencies in the first three months of the year.

the company said sales fell in the first three months by 3.5 percent to 325 million euros and gross operating profit fell 1.5 percent to 55 million

However, the company, which generates nearly 60 percent of their income in Latin America, said at constant exchange rates, Ebitda would have risen 20 percent to 81.6 million euros.

“the exchange rate has had a very significant negative impact on the quarter mainly affecting Santillana. in income the negative impact of 49 million euros and EBITDA of 22 million, “Prisa said in its press release referring to the currency depreciations in Brazil, Argentina . and Peru

the company added that it also reported a decline in advertising revenues in Spain in the first quarter due to the effect of Easter, but noted that this impact was reversed in April –

the main business of Prisa is its education division Santillana (textbooks), with a strong presence in Latin America, followed by radio (Cadena Ser and other stations) and the press (El País, the leading newspaper in Spain, and the sports daily aS).

in the first quarter the circulation of El País was about 213,000 copies, down nine percent on the same period in 2015 while aS fell by six percent about 125,000 copies

(Reporting by Robert Hetz, edited by Andres Gonzalez)

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