The company’s 2020 financial year recorded a consolidated net result in balance and a negative net financial position of 523.4 million, worsening compared to the previous year but still at levels of sustainability.
Rai’s 2020 financial year recorded a consolidated net result in balance and a negative net financial position of 523.4 million, worsening compared to the previous year but still at levels of sustainability. “The year 2020 was, as is well known, heavily marked by the impacts of the pandemic which, with a general downsizing of production activities, resulted in a significant downsizing of revenues, also in the communications sector,” the company stated.
In detail, revenues for 2020 recorded a drop of almost €147 million (-5.5%), due to the contraction of fees (over €70 million). According to Rai, the contraction was due “both to the negative impacts of the pandemic on special ones and the one-off effect in 2019 of the contingency for portions of previous fees”. Moreover, advertising revenues decreased by about €45 million. Other revenue sources also declined, in particular due to the critical situation in the film sector.
During last year, some cost containment initiatives were adopted by the group, which resulted in savings of around €140 million, which involved in particular the area of sports, product and staff. Moreover, redundancy incentives, for which €15 million have been allocated, continue to be implemented.
As far as editorial results are concerned, in 2020 the channels of the Rai group recorded 35.2% over the whole day and 36.0% over prime time. Digital platforms have recorded about 260 million total hours as time spent on the platform with about 1.700 million views.