Il Fatto: EBITDA Doubled in First Half, Net Loss Reduced to 283,000 Euros
Società Editoriale Il Fatto (Italian publisher of Il Fatto Quotidiano, listed on Euronext Growth Milan and Paris) published on September 30, 2026 its consolidated half-year financial statements as of June 30, 2026.
The group shows production value up and operating margin improving, driven by the growth of digital subscriptions and advertising revenues, while net income remains negative but with a sharp reduction in losses.
Production Value at 19.1 Million Euros, EBITDA Doubled
The group's production value stood at 19,134 thousand euros as of June 30, 2026, compared to 18,044 thousand euros a year earlier, representing growth of 6%.
EBITDA reached 2,122 thousand euros, compared to 1,047 thousand euros in the first half of 2025, up 102.7%. The EBITDA margin stands at 11.09%, compared to 5.80% for the same period last year.
Operating income (EBIT) was −16 thousand euros, compared to −1,246 thousand euros a year earlier. The half-year net income remains negative at −283 thousand euros, compared to −1,599 thousand euros on June 30, 2025, representing an improvement of 1,316 thousand euros.
Digital Subscriptions (+17.6%) and Advertising (+35%) Offset Newsstand Sales Decline
Revenue from sales and services totaled 15,775 thousand euros, up 3.6% year-on-year. The publishing sector, which accounts for 71.78% of this revenue, grew 0.78% to 11,323 thousand euros.
Within this division, newsstand sales of the daily newspaper declined 6.6% to 5,893 thousand euros, while subscription sales for editorial products and digital content increased 17.6% to 4,513 thousand euros. Advertising revenues grew 35.03% to 1,984 thousand euros, of which 1,720 thousand euros came from the website.
The Media Content sector declined 2.11% to 2,468 thousand euros: the exploitation of television content increased 9.1% to 2,003 thousand euros, while subscriptions and advertising from the TVLOFT application fell 71.4% to 66 thousand euros, related to the transition from an SVOD monetization model to AVOD.
Net Debt Slightly Down and Consolidation Target for Second Half
The reduction in production costs, notably those of the daily newspaper converted to a 16-page format, contributed to margin improvement, with loss before tax declining 86.5%. The total cost of goods sold was 19,149 thousand euros, down 141 thousand euros compared to the first half of 2025.
Net financial debt stood at 4,905 thousand euros, slightly down from 4,951 thousand euros on December 31, 2025. Operating cash flow is positive at 3,144 thousand euros, compared to 1,925 thousand euros a year earlier. Consolidated equity shows a negative balance of 6,681 thousand euros.
Auditor KPMG issued an unqualified opinion, with a reference to the notes regarding the assessment of going concern. For the second half of 2026, the group states it aims to consolidate the trends of revenue growth and margin improvement, in line with the 2026-2028 plan.
