to download the 2012 registration document. - Groupe M6

2012 FINANCIAL REPORT5.1.1.2. Consolidated income statement by nature of expenseConsolidated statement of comprehensive income(€ millions) 31/ 12/ 2012 31/12/ 2011Revenue 1,386.6 1,421.3Total operating revenues 1,394.4 1,437.7Total operating expenses * (1,175.9) (1,192.7)Profit from recurring operations (E BITA) 218.5 245.0Amortisation and impairment of intangible assets related to acquisitions(including goodwill) and capital gains and losses on the disposal ofsubsidiaries & equity investments(12.5) (3.4)Operating profit (EBIT) 206.0 241.6Net financial income 24.4 3.0Share of profit of associates 0.0 (0.1)Proft before tax (EBT) 230.4 244.6Income tax (90.2) (94.9)Net profit for the year 140.2 149.7attributable to non-controlling interests (0.047) (0.048)Net profit - Group share 140.2 149.6* operating expenses excluding amortisation and impairment of intangible assets related to acquisitions and capital gains and losses onthe disposal of subsidiaries & equity investments5.1.2. Analysis of the consolidated income statement5.1.2.1. Analytical presentation of 2012 resultsIn 2012, the M6 Group recorded consolidated revenue of €1,386.6 million, a decline of 2.4%.This was mainly due to the M6 channel: in an advertising market that suffered a marked slowdown fromMay 2012 onwards, the channel took advantage from a strong audience performance and was the onlynationwide historic channel to report growth, with 11.2% ratings among 4+ year old viewers (comparedto 10.8% in 2011), thus limiting the decline in its advertising revenue to 4.3%. The latter totalled €647.1million, compared to €675.9 million in 2011.Digital channels reported moderate growth of 0.8% to €186.1 million, compared to €184.6 million in2011, primarily driven by W9, the DTT channel that broadcasts the largest number of programmesattracting more than 1 million viewers in 2012 (126 nights).Diversification and audiovisual rights recorded revenue of €536.3 million, a decline of €14.8 million, down2.7%.Excluding FC Girondins de Bordeaux (F.C.G.B.), which benefited from its good ranking at the end of the2011/2012 season and its run in the Europa League, revenue from diversification activities declined by€22.1 million (down 4.5%). This reflected the decrease of M6 Interactions’ revenue (down €18.3 million)under the combined effect of the transfer of licencing and development activities to M6 Créations and thetermination of publication and press activities.Other operating revenues were €7.8 million, a decline of €8.6 million compared to 2011, of which €5.7million was attributable to lower transfer fees from F.C.G.B. players.Operating revenues thus totalled €1,394.4 million in 2012, compared to €1,437.7 million in 2011, adecline of €43.3 million (down 3.0%).Excluding operating expenses relating to business combinations, operating expenses decreased by€16.8 million (down 1.4%) to €1,175.9 million.This decline was due to the following developments:ents:M6 GROUP - 2012 REGISTRATION DOCUMENT - 135