(€/M)202120202019[3]2018[1]2017[1]20162015
Revenue from sales and services807.3744.0884.9891.4970.1[2]1,263.31,123.2
Cost of goods sold246.6225.3279.4280.3302.4396.4434.7
Variable costs277.3257.6284.3292.1330.9415.4287.7
Fixed costs50.347.960.170.281.3102.4116.8
Personnel costs135.8133.1153.2159.8171.0240.7207.7
Other expenses/(income)(8.3)(18.0)(2.6)(1.1)0.53.0
EBITDA before non recurring items105.798.1110.490.184.5109.072.7
Restructuring costs11.28.96.411.75.110.812.7
Negative / (positive) non recurring items3.44.61.10.9(7.3)3.7(21.2)
EBITDA91.184.6102.977.586.794.081.6
Depreciation and amortization32.555.426.026.226.334.027.1
Depreciation and amortization IFRS1613.414.414.6
EBIT45.214.862.351.360.460.054.5
Net financial4.76.64.67.017.716.023.0
Associates1.57.38.113.24.0(0.5)0.3
Other charges / (income) from associates0.4(0.6)(1.0) –0.1
Pre-tax result38.61.550.635.249.542.338.3
Income taxes(5.6)(3.0)18.614.922.318.020.5
Result from continuing operations44.24.532.020.327.224.317.8
Result from discontinued operations(2.6)(195.5)5.81.0(8.7)
Minorities1.22.02.52.72.7
Net result44.24.528.2(177.1)30.422.56.4
Net earnings per share (in euro units)0.1700.0170.109(0.677)0.1160.0860.024
Diluted net earnings per share (in euro units)0.1700.0170.108(0.677)0.1160.0860.024

[1] Data presented in accordance with IFRS5, with Mondadori France discontinuing
[2] Data reclassified in accordance with IFRS5
[3] Data are reported according to IFRS16

(€/M)1Q2220219M211H211Q2120209M201H201Q2020199M19[1]1H19[1]1Q19[1]2018[1]9M18[1]1H18[1]
Revenue from sales and services153.1807.3588.9320.4144.8744.0541.9288.9135.3884.9658.9380.0166.8891.4658.5390.8
Cost of goods sold49.7246.6173.294.643.2225.3159.684.844.5279.4205.4121.456.9280.3208.4124.9
Variable costs55.6277.3200.3116.9153.3257.6177.8103.646.2284.3213.9129.154.3292.1214.9133.0
Fixed costs12.650.335.824.612.549.735.824.212.076.041.828.114.670.240.928.5
Personnel cost36.8135.8100.067.835.1131.398.265.535.9153.2114.779.339.4159.8120.585.0
Other expenses / (income)(0.5)(8.3)(5.5)(4.9)(0.4)(18.0)(0.5)(0.2)(0.1)(2.6)(0.3)0.2(0.1)(1.1)(0.8)(0.6)
EBITDA adjusted(1.1)105.785.021.51.198.171.011.0(3.2)94.683.421.91.790.174.619.9
Restructuring costs0.211.23.21.70.98.92.71.60.66.43.01.10.611.76.05.4
Negative / (positive) non recurring items(0.6)3.41.40.8(0.1)4.63.20.90.61.12.00.10.93.83.1
EBITDA(0.7)91.180.519.00.284.665.18.4(4.2)87.078.420.61.177.564.811.4
Depreciation and amortization8.132.518.512.25.955.425.418.26.125.917.111.14.726.215.510.2
Depreciation and amortization IFRS163.513.410.06.63.314.410.87.43.711.17.43.610.77.2
EBIT(12.2)45.252.00.2(9.0)29.228.9(17.2)(14.0)61.150.22.1(7.2)51.238.6(5.9)
Net financial1.44.73.91.71.16.65.13.71.62.22.30.7(0.1)2.93.22.1
Other charges / (income) from associates1.50.40.40.47.3(0.9)6.66.98,11.01.82.9
Associates0.90.42.93.11.6(0.6)5.13.41.38.15.33.00.313.29.98.2
Pre-tax result(14.4)38.644.8(5.1)(12.1)15.919.6(30.9)(23.8)51.741.5(1.6)(9.2) 35.225.6(16.1)
Income taxes(3.1)(5.6)(4.6)(9.4)(1.9)(3.0)1.6(5.9)(4.7)18.616.13.0(1.4)14.99.8(2.5)
Result from continuing operations(11.4)44.249.44.4(10.2)18.918.0(25.0)(19.1)33.125.4(4.6)(7.9)20.315.8(13.6)
Result from discontinued operations(2.6)(1.1)3.94.9(195.5)(195.7)2.2
Minorities1.2(1.2)1.20.52.0(1.6)1.1
Net result(11.4)(10.2)

[1] Data presented in accordance with IFRS5, with Mondadori France discontinuing
As of January 1, 2019, the data are reported according to IFRS16