(€/m)FY 2019FY 2018[1]FY 2017[1]FY 2016FY 2015FY 2014FY 2013
Revenue from sales and services884.9891.1970.1[2]1,263.31,123.21,169.51,275.8
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 cost153.2159.5171.0240.7207.7222.2240.0
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(7.31)3.7(21.2)(10.1)11.5
EBITDA87.177.586.794.081.671.5(12.8)
Depreciation and amortization25.926.226.334.027.123.3170.2
EBIT61.151.261.560.054.548.2(183.1)
Net financial2.22.97.017.716.023.024.2
Associates8.113.24.0(0.5)0.30.11.0
Other charges / (income) from associates(1.0)0.1
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 result(29.3)(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
[2] Data reclassified according to IFRS15

(€/m)1H201Q20FY19[1]9M19[1]1H19[2]1Q19[2]FY18[2]9M18[1][2]1H18[2]1Q18[2]FY17[2]9M17[2]1H171Q17FY169M16
Revenue from sales and services288.9135.3884.9 658.9380.0 166.8 891.1658.5390.8177.7970.1[3]707.1573.1271.61,263.3935.3
Cost of goods sold 84.844.5 279.4 206.0 121.4 57.5 271.4208.4124.958.9302.4213.7151.071.9396.4293.3
Variable costs 103.646.2 284.3 213.7 129.1 53.6 300.9214.9133.059.8330.9245.9231.6111.1415.4316.2
Fixed costs 24.212.0 76.0 41.4 28.1 14.6 69.140.928.515.081.359.648.928.5102.471.9
Personnel cost 65.535.9 153.2 114.7 79.3 39.4 159.5120.585.043.2171.0127.1119.560.9240.7175.7
Other expenses / (income) (0.2)(0.1)(2.6)(0.3)0.2(0.1) –(0.8)(0.6)(0.2)(2.8)(4.8)0.52.0
EBITDA adjusted11.0(3.1)94.5 83.4 21.8[2] 1.7[2] 90.174.619.91.084.560.822.24.0108.576.1
Restructuring costs 1.60.6 6.4 3.0 1.1 0.6 11.76.05.43.25.12.22.91.410.83.9
Negative / (positive) non recurring items 0.90.61.1 2.0 0.1 – 0.93.83.10.1(7.3)(4.6)8.20.33.72.0
EBITDA8.4(4.2)87.078.4 20.6[2] 1.1[2] 77.564.811.4(2.4)86.763.227.62.394.070.3
Depreciation and amortization 18.26.1 25.9 17.1 11.1 4.7 26.215.510.25.026.315.416.08.034.022.3
IFRS16 amortisation 7.43.7 – 11.1 7.4 3.6 – 10.7 7.2 3.5 – – – – – –
EBIT(17.2)(14.0) 61.150.2 2.1[2] (7.2)[2] 51.2378.6(5.9)(10.9)60.447.811.5(5.6)60.048.0
Net financial 3.71.62.2 2.3 0.7 (0.1) 2.93.22.10.67.04.97.13.417.712.7
Associates 3.46.9(1.0) 5.3 3.0 0.3 13.29.98.20.34.02.2(0.3)0.5(0.5)
Other charges / (income) from associates 6.6 1.38.1 1.0 – 1.8 –2.87.0
Pre-tax result(30.9)(23.8)51.741.5(1.6)(9.2)35.225.6(16.1)(14.6)49.540.84.1(1.7)42.360.7
Income taxes (5.9)(4.7)18.616.13.0(1.4)14.99.8(2.5)(1.9)22.315.3(1.6)(1.0)18.016.2
Result from continuing operations(25.0)(19.1)33.125.4(4.6)(7.8)20.315.8(13.6)(12.7)27.225.55.7(0.7)24.344.5
Result from discontinued operations –(2.6)(1.1)3.94.9(195.5)(195.7)2.2(0.1)5.87.71.00.7
Net result (25.0) (1.9)

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