Novara, 20 January 2009 - Stefano di Bella, Chief Executive Officer of De Agostini Editore S.p.A., met today with representatives of national, regional and company trade union organisations to launch the first phase of discussions to address the repercussions of the current crisis in the publishing market in Italy.
The economic difficulties affecting many business sectors in the country have hit several business areas of De Agostini Editore resulting in reduced sales and profit margins.
In the publishing businesses managed by De Agostini Editore, the areas that have suffered the most from this difficult economic situation are General Reference works sold in instalments (encyclopaedias, dictionaries, essays and classics) and Cartography products (atlases, guides, street maps). Both these sectors have experienced a structural crisis over the last three years.
The Collections and Inserts markets (series included in newspapers and magazines), which are both distributed through newsstands, also felt the impact of the crisis.
Faced with this difficult situation, the top management of De Agostini Editore believes it is absolutely imperative to restore the balance between costs and revenues. The Chief Executive Officer said, "It is essential that we completely redefine our presence in Italy in sectors experiencing a structural crisis, and modify our business structure in those sectors suffering from the economic crisis as we intend to remain active in all sectors."Stefano Di Bella also expressed "satisfaction over the performance of the other business areas in Italy and abroad that now account for 65% of turnover."
Starting in the coming weeks, in accordance with the procedures dictated by applicable laws and regulations, the company will inform trade union representatives of its plan to restructure and streamline the business areas affected by the crisis. The company indica ated its willingness to have a constructive discussion aimed at limiting the resulting social impact.
For information contact:
Elena Dalle Rive
Media Relations De Agostini S.p.A.
T + 39 02 62499592 - F + 39 02 62499553
Cell. 335 7835912
De Agostini S.p.A.
via Borgonuovo, 16 20121 Milano
T +39 02 62499592 F +39 02 62499553
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