Reworld Media shares rose sharply on the Paris Bourse on Thursday, following the publication of the press group's annual results, which included sales of over 500 million euros.

At 10:45 a.m., shares in the company that owns titles such as Maison & Travaux, Marie France, Grazia and Auto Plus climbed 8.5%, among the biggest gains on the Paris market.

Consolidated sales totaled 505.8 million euros last year, the first time the company has exceeded the 500 million mark, representing growth of 7.7% on a reported basis and 3.9% on an organic basis.

Despite the inflationary context which weighed on profitability, the Group managed to generate consolidated EBITDA up 1% to €67.4 million, including organic growth of 0.3%.

Over the year, the Group generated free cash flow of €24.6 million, compared with €30.9 million in 2021.

Reworld explains this decline by the evolution of its business mix and by its difficulties in sourcing paper in an inflationary context.

Looking ahead to 2023, the group says it intends to maintain its strategic direction by pursuing its development through organic growth and selective acquisitions, both in France and internationally.

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