(€/M)FY 2019FY 2018[1]FY 2017[1]FY 2016FY 2015FY 2014FY 2013
Revenue from sales and services884.6891.4970.11,263.31,123.21,169.5 1,275.8
Cost of goods sold279.4280.3302.4396.4434.7480.1548.8
Variable costs284.3292.1330.9415.4287.7272.5252.2
Fixed costs76.070.281.3102.4116.8129.1192.6
Personnel costs153.2159.8171.0240.7207.7222.2240.0
Other expenses/(income)(2.6)(1.1)0.53.0(2.4)(7.8)
Adjusted EBITDA94.690.184.5109.072.767.948.1
Restructuring costs6.411.75.110.812.76.550.4
Negative / (positive) non recurring items1.10.9(7.3)3.7(21.2)(10.1)11.5
EBITDA87.077.586.794.081.671.5(12.8)
Depreciation and amortization25.926.226.334.027.123.3170.2
EBIT61.151.260.460.054.548.2(183.1)
Net financial2.22.97.017.716.023.024.2
Other charges / (income) from associates(1.0) –0.1
Associates8.113.24.0(0.5)0.30.11.0
Pre-tax result51.735.249.542.338.325.2 (207.3)
Income taxes18.614.922.318.020.516.7(23.8)
Result from continuing operations33.120.327.224.317.88.4 (183.5)
Result from discontinued operations(2.6)(195.5)5.81.0(8.7)(4.7)
Minorities1.22.02.52.72.73.11.9
Net result29.3(177.1)30.422.56.40.6(185.4)
Net earnings per share (in euro units)0.112(0.677)0.1160.0860.0240.0020.801
Diluted net earnings per share (in euro units)0.112(0.677)0.1160.0860.0240.0020.801

[1] Data presented in accordance with IFRS5, with Mondadori France discontinuing

(€/M)9M201H201Q2020199M19[1]1H19[1]1Q19[1]2018[1]9M18[1]1H18[1]1Q18[1]FY17[1]9M17[1]1H171Q17FY16
Revenue from sales and services541.9288.9135.3884.9658.9380.0166.8891.4658.5390.8177.7970.1707.1573.1271.61,263.3
Cost of goods sold159.684.844.5279.4205.4121.456.9280.3208.4124.958.9302.4213.7151.071.9396.4
Variable costs177.8103.646.2284.3213.9129.154.3292.1214.9133.059.8330.9245.9231.6111.1415.4
Fixed costs35.824.212.076.041.828.114.670.240.928.515.081.359.648.928.5102.4
Personnel cost98.265.535.9153.2114.779.339.4159.8120.585.043.2171.0127.1119.560.9240.7
Other expenses / (income)(0.5)(0.2)(0.1)(2.6)(0.3)0.2(0.1)(1.1)(0.8)(0.6)(0.2)(2.8)(4.8)0.5
EBITDA adjusted71.011.0(3.2)94.683.421.91.790.174.619.91.084.560.822.24.0108.5
Restructuring costs2.71.60.66.43.01.10.611.76.05.43.25.12.22.91.410.8
Negative / (positive) non recurring items3.20.90.61.12.00.10.93.83.10.1(7.3)(4.6)8.20.33.7
EBITDA65.18.4(4.2)87.078.420.61.177.564.811.4(2.4)86.763.227.62.394.0
Depreciation and amortization25.418.26.125.917.111.14.726.215.510.25.026.315.416.08.034.0
IFRS16 amortization10.87.43.711.17.43.610.77.23.5
EBIT28.9(17.2)(14.0)61.150.22.1(7.2)51.238.6(5.9)(10.9)60.447.811.5(5.6)60.0
Net financial5.13.71.62.22.30.7(0.1)2.93.22.10.67.04.97.13.417.7
Other charges / (income) from associates(0.9)6.66.9(1.0)1.01.82.92.8
Associates5.13.41.38.15.33.00.313.29.98.20.34.02.2(0.3)0.5(0.5)
Pre-tax result19.6(30.9)(23.8)51.741.5(1.6)(9.2) 35.225.6(16.1)(14.6)49.540.84.1(1.7)42.3
Income taxes1.6(5.9)(4.7)18.616.13.0(1.4)14.99.8(2.5)(1.9)22.315.3(1.6)(1.0)18.0
Result from continuing operations18.0(25.0)(19.1)33.125.4(4.6)(7.9)20.315.8(13.6)(12.7)27.225.55.7(0.7)24.3
Result from discontinued operations(2.6)(1.1)3.94.9(195.5)(195.7)2.2(0.1)5.87.71.0
Minorities1.2(1.2)1.20.52.0(1.6)1.10.72.51.91.30.62.7
Net result18.023.1

[1] Data presented in accordance with IFRS5, with Mondadori France discontinuing