2017

The Company completed one year ahead of the targets disclosed to the market the Group’s releveraging plan, based on the distribution of an extraordinary dividend in addition to the ordinary dividend and on the repurchase of treasury shares. The completion of the buyback plan, begun in September 2016, allowed the Group to hold approximately 4.83% of the share capital in the form of treasury shares.
At the end of October, a bank loan agreement was signed to early repay the Eurobond maturing in April 2018 and to support operational management.
Expansion activities continued during the year through acquisitions in Italy, with the objective of increasing the Group’s presence in the radio broadcasting and telecommunications sector, in order to reduce the exposure relative to the television broadcast. EIT Radio has consolidated its presence in the territory after the acquisition of Ganora TV S.r.l., Gepra S.r.l., Multireti S.r.l., in addition to 3 companies operating in Veneto and some business branches. In addition, several plot of lands and surface rights were acquired.