Rai Way S.p.A. (0R40) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good evening, this is the Coruscant Conference Operator. Welcome and thank you for joining the Raiway First Hop 2025 Results Analyst Presentation. All participants are in listen-only mode and after the presentation there will be a Q&A session. At this time, I would like to turn the conference over to Mr. Andrea Moretti, Head of IR of Raiway. Please go ahead, sir. Thank you, Operator, and good afternoon. Welcome, everybody, to our half-year financial results call. Today's speakers will be, as usual, our CEO, Roberto Cecatto, our CFO, Adalberto Pellegrino, and Giancarlo Venucci, our Chief Corporate Development Officer. Let's start with Mr. Cecatto. Please go ahead, sir. Thank you, Andrea. Good afternoon to all of you. Let me start from positive news in terms of results that we are delivering. Revenues were up to 2%, accelerating from 1.7% performance in the first quarter, underpinned by both media distribution and digital infrastructure. Considering the CPI link contribution equal to 1.2%, the additional boost was provided by DAB coverage extension for RAI, rising tower hosting volumes, in particular from radio broadcaster, and the initial contribution from diversification initiatives. Adjusted EBITDA hit 96.3 million euros. up by 3%, also helped by some non-core items that Adalberto will cover in a while. Scrapping them at just every day underlining trend was in line with our expectation and full year guidance. providing for a constant growth in traditional business compensated by the startup operating expenses of diversification initiatives. Net profitability was in line with last year's ESWARE investments, but with a significant difference compared to the first semester of 2024. Out of 16.1 million euros capex in the first six months of 2025, the majority was repres...