(€/m)FY 2018[1]FY 2017[1]FY 2016FY 2015FY 2014FY 2013
Revenue from sales and services 891.1970.1[2]1,263.31,123.21,169.5 1,275.8
Cost of goods sold 271.4302.4396.4434.7480.1 548.8
Variable costs 300.9330.9415.4287.7272.5252.2
Fixed costs 69.181.3102.4116.8129.1192.6
Personnel cost 159.5171.0240.7207.7222.2240.0
Other expenses / (income) –0.53.0(2.4)(7.8)
Adjusted EBITDA 90.184.5109.072.767.948.1
Restructuring costs 11.75.110.812.76.550.4
Negative / (positive) non recurring items 0.9(7.31)3.7(21.2)(10.1)11.5
EBITDA 77.586.794.081.671.5(12.8)
Depreciation and amortization 26.226.334.027.123.3170.2
EBIT 51.261.560.054.548.2(183.1)
Net financial 2.97.017.716.023.024.2
Associates 13.24.0(0.5)0.30.11.0
Other charges / (income) from associates –0.1
Pre-tax result 35.249.542.338.325.2 (207.3)
Income taxes 14.922.318.020.516.7(23.8)
Result from continuing operations 20.327.224.317.88.4 (183.5)
Result from discontinued operations (195.5)5.81.0(8.7)(4.7)
Minorities 2.02.52.72.73.11.9
Net result (177.1)30.422.56.40.6(185.4)
Net earnings per share (in euro units) (0.677)0.1160.0860.0240.0020.801
Diluted net earnings per share (in euro units) (0.677)0.1160.0860.0240.0020.801

[1] Data presented in accordance with IFRS5, with Mondadori France discontinuing
[2] Data reclassified according to IFRS15

(€/m)9M19[1]1H19[2]1Q19[2]FY18[2]9M18[1][2]1H18[2]1Q18[2]FY17[2]9M17[2]1H171Q17FY169M161H161Q16FY15
Revenue from sales and services 658.9380.0 166.8 891.1658.5390.8177.7970.1[3]707.1573.1271.61,263.3935.3562.6254.81,123.2
Cost of goods sold 206.0 121.7 57.5 271.4208.4124.958.9302.4213.7151.071.9396.4293.3176.4101.6434.7
Variable costs 213.7 128.0 53.6 300.9214.9133.059.8330.9245.9231.6111.1415.4316.2193.061.1287.7
Fixed costs 41.4 28.9 14.6 69.140.928.515.081.359.648.928.5102.471.950.128.7116.8
Personnel cost 114.7 79.3 39.4 159.5120.585.043.2171.0127.1119.560.9240.7175.7118.053.3207.7
Other expenses / (income) (0.3) 0.2 (0.1) –(0.8)(0.6)(0.2)(2.8)(4.8)0.52.0(1.8)(0.8)3.0
EBITDA adjusted 83.4 21.8[2] 1.7[2] 90.174.619.91.084.560.822.24.0108.576.126.710.173.0
Restructuring costs 3.0 1.1 0.6 11.76.05.43.25.12.22.91.410.83.92.41.612.7
Negative / (positive) non recurring items 2.0 0.1 – 0.93.83.10.1(7.3)(4.6)8.20.33.72.01.8(21.2)
EBITDA78.4 20.6[2] 1.1[2] 77.564.811.4(2.4)86.763.227.62.394.070.322.58.581.6
Depreciation and amortization 17.1 11.1 4.7 26.215.510.25.026.315.416.08.034.022.314.05.427.1
IFRS16 amortisation 11.1 7.4 3.6 – 10.7 7.2 3.5 – – – – – – – – –
EBIT50.2 2.1[2] (7.2)[2] 51.2378.6(5.9)(10.9)60.447.811.5(5.6)60.048.08.53.154.5
Net financial 2.3 0.7 (0.1) 2.93.22.10.67.04.97.13.417.712.77.93.616.0
Associates 5.3 3.0 0.3 13.29.98.20.34.02.2(0.3)0.5(0.5)0.20.70.3
Other charges / (income) from associates 1.0 – 1.8 –2.87.00.1
Pre-tax result41.5 (1.6) (9.2) 35.225.6(16.1)(14.6)49.540.84.1(1.7)42.360.70.6(0.5)38.3
Income taxes 16.1 3.0 (1.4) 14.99.8(2.5)(1.9)22.315.3(1.6)(1.0)18.016.23.10.920.5
Result from continuing operations25.4 (4.6) (7.8) 20.315.8(13.6)(12.7)27.225.55.7(0.7)24.344.5(2.5)(1.4)17.8
Result from discontinued operations (1.1) 3.9 4.9 (195.5)(195.7)2.2(0.1)5.87.71.00.7(8.7)
Minorities (1.2) 1.2 0.5 2.0 1.61.10.72.51.91.30.62.71.91.20.42.7
Net result 23.1(181.5)

[1] Data presented in accordance with IFRS16
[2] Data presented in accordance with IFRS5, with Mondadori France discontinuing
[3] Data riclassified according IFRS15