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Grupo Clarín Announces First Half and Second Quarter 2018 Results

 

August 09, 2018 --

BUENOS AIRES, Argentina, Aug. 9, 2018 /PRNewswire/ -- Grupo Clarín S.A. ("Grupo Clarín" or the "Company" - LSE: GCLA; BCBA: GCLA), the largest media company in Argentina, announced today its first half and second quarter 2018 results. Figures in this report have been prepared in accordance with International Financial Reporting Standards ("IFRS") as of June 30, 2018, and are stated in Argentine Pesos, unless otherwise indicated.

Highlights (1H18 vs. 1H17):

  • Total Revenues reached Ps. 7,080.4 million, an increase of 12.7% compared to 1H17, mainly due to higher circulation revenues in the Printing and Publishing segment and to a lesser extent, driven by higher advertising and programming sales in the Broadcasting and Programming segment.
  • Adjusted EBITDA (1) reached Ps. 643.2 million, an increase of 113.4% compared to 1H17, mainly driven by higher EBITDA in the Printing and Publishing segment, and to a lesser extent driven by solid margins in the Broadcasting and Programming segment.
  • Grupo Clarín's Adjusted EBITDA Margin (2) was 9.1% in 1H18, compared to 4.8% in 1H17.
  • Income for the period totaled Ps. 533.1 million, a decrease of 78.2% compared to Ps. 2,443.4 million reported in 1H17 (includes Ps. 2,367 million of Cablevisión's discontinued operations). Income for the period attributable to Equity Shareholders amounted Ps 553.1 million in 1H18 from Ps. 1,494.2 million in 1H17, a decrease of 63.0%.

FINANCIAL HIGHLIGHTS




















(In millions of Ps.)

1H18

1H17

% Ch.

2Q18

1Q18

2Q17

QoQ

YoY

Total Revenues

7,080.4

6,281.8

12.7%

4,007.1

3,073.3

3,606.0

30.4%

11.1%

Adjusted EBITDA (1)

643.2

301.4

113.4%

538.9

104.3

388.5

416.7%

38.7%

Adjusted EBITDA Margin (2)

9.1%

4.8%

89.3%

13.4%

3.4%

10.8%

296.3%

24.8%

Income for the period

533.1

2,443.4

(78.2%)

524.1

9.0

637.0

5,708.0%

(17.7%)

Attributable to:









Equity Shareholders

553.1

1,494.2

(63.0%)

534.9

18.2

445.5

2,840.3%

20.1%

Non-Controlling Interests

(20.0)

949.3

(102.1%)

(10.8)

(9.2)

191.4

17.8%

105.6%

 

(1) We define Adjusted EBITDA as Total Revenues minus cost of sales (excluding depreciation and amortization) and selling and administrative expenses (excluding depreciation and amortization). We believe that Adjusted EBITDA is a meaningful measure of our performance. It is commonly used to analyze and compare media companies based on operating performance, leverage and liquidity. Nonetheless, Adjusted EBITDA is not a measure of net income or cash flow from operations and should not be considered as an alternative to net income, an indication of our financial performance, an alternative to cash flow from operating activities or a measure of liquidity. Other companies may compute Adjusted EBITDA in a different manner; therefore, Adjusted EBITDA as reported by other companies may not be comparable to Adjusted EBITDA as we report it.

(2) We define Adjusted EBITDA Margin as Adjusted EBITDA over Total Revenues.

 

Investor Relations Contacts

In Buenos Aires:

In London:

In New York:




Agustín Medina Manson

Alex Money

Melanie Carpenter

Patricio Gentile






Grupo Clarín S.A.

Jasford IR

I-advize Corporate Communications

Tel: +54-11-4309-7215

Tel: +44-20-3289-5300

Tel: +1-212-406-3692

Email: inv[email protected]

E-mail: [email protected]

E-mail: [email protected]


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SOURCE Grupo Clarín

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