Editora Abril S.A., the holding company for all Abril group companies except TVA, issued consolidated financial statements for 2001 on Friday, April 12, showing a 69.3% share of the magazine market in the year, up from 67.3% in 2000. According to a survey by Inter-meios, magazine advertising fell 5.6% in the period. Abril?s net revenue excluding TVA totaled 1.63 billion reals, for a year-over-year increase of 4.5%. Operating expense amounted to 1.58 bn reals. EBITDA totaled 107.2m reals. The net result was a loss of 44m reals.
Like other Brazilian media groups, Abril is heavily indebted. At the end of 2001, net debt excluding TVA totaled 710m reals, up from 605.8m reals a year earlier. The good news is that the dollar-denominated portion fell from over 70% to 52.8%. Short-term debt accounted for half the total.