Roularta Media Group, which co-owns business newspapers L'Echo and De Tijd and publishes a wide variety of French and Dutch magazines, saw profits jump by more than 36% in the first half of 2024.
The Belgian group reported EBIDTA (earnings before interest, taxation, depreciation and amortisation - a measure of profit) of €11.4 million in the first six months of the year, compared to €8.4 million over the same period in 2023.
The group said that the increase in profitability is down to 19% lower paper costs compared to last year, as well as lower print runs and higher selling prices.
Founded in 1954, Roularta Media Group employs more than 1,300 people, and defines itself as the "market leader" in Belgium's magazine market.
It publishes magazines, newspapers and digital publications covering news, lifestyle, business, sport and more niche professional fields, with brands including weekly magazines Knack, Le Vif/L’Express, and Trends, and Sunday paper De Zondag.
Sales stable in first six months of 2024
The group's revenue in the first half of the year reached €159.5 million, gaining just 0.1% compared to the same time last year.
Roularta said that the advertising market is holding up compared to the same period last year, and for the first time an increase in advertising rates has compensated for a slowing market with less advertisements being sold.
The group also noted that an expansion of its Dutch magazine portfolio, through the acquisition of Dutch BV RMN Mindstyle and its brands Happinez, Yoga, Psychologie and Flow at the end of last year, contributed to the "significant increase" in EBIDTA and stable sales.
The group also has a 50% stake in Mediafin, which publishes business newspapers De Tijd and L’Echo. Mediafin saw revenues rise by 4.9% in the first half of 2024, to €42.5 million. The publisher's profit (EBITDA) increased by 6.1% to €9.7 million, and in the end resulted in a net contribution of €1.7 million to Roularta for its 50% share.
The printing house of international multi-media group Roularta, during a royal visit in West-Flanders province, in 2023. Credit: Belga / Kurt Desplenter
Decline in printing orders
In terms of printing services for its own brands as well as external customers, Roularta's revenues fell by 16.7% (€6.6 million) in the first half of the year as the number and size of orders are decreasing.
The group said that the decline in third party print-jobs was offset by an increase in its readership and investing in its offering for digital subscribers.
Looking ahead to the rest of the year, Roularta said that there could be pressure on advertising income which remains "quite volatile and unpredictable", but the group expects a "positive impact on income" from growing digital and print subscriptions.
