Cablevisión Holding Announces First Half and Second Quarter 2018 Results

BUENOS AIRES, Argentina, Aug. 13, 2018 /PRNewswire/ -- Cablevisión Holding S.A., ("Cablevision Holding", "CVH" or "the Company" - BCBA: CVH; LSE: CVH), announced today its First Half and Second Quarter 2018 Results. Figures have been prepared in accordance with International Financial Reporting Standards ("IFRS") as of June 30, 2018 and are stated in Argentine Pesos ("Ps." or "P$"), unless otherwise indicated.

As of January 1, 2018, the Merger between Telecom Argentina S.A. and Cablevisión S.A. (CVH's Subsidiary) has become effective and, consequently, the Company has become the controlling shareholder of Telecom Argentina S.A. (NYSE: TEO, BCBA: TECO2).

CVH Highlights 1H18:

• Revenues reached Ps. 64,179 million mainly driven by mobile, Internet and Cable TV services.
• Total Costs reached Ps. 40,969 million mainly driven by Employee benefit expenses and severance payments, Fees for services, maintenance, materials and supplies, Taxes and fees with the regulatory authority and Programming and content costs.
•  EBITDA reached Ps. 23,210 million and EBITDA Margin was 36.2%.
• Capex amounted to Ps. 14,237 million in 1H18, equivalent to 22.2% of Consolidated Revenues.
• Consolidated Financial Debt and Net Debt reached Ps. 70,307 million and Ps. 57,799 respectively. Debt Coverage Consolidated ratio as of June 2018 was 1.54x for Total Financial Debt and 1.26x in terms of Net Debt.
• Mobile subscribers in Argentina reached 19.1 million, while Cable TV subscribers and Broadband accesses totaled 3.5 million and 4.1 million, respectively.
• Net Income amounted to Ps. (7,686) million. Net Income attributable to the Controlling Company amounted to Ps. (4,733) million, influenced the negative FX impact over dollar denominated debt.
• During the 1H18 the company made three mandatory prepayments under the USD 750 million Loan after receiving dividends from its subsidiaries. As of June 30, 2018, the outstanding principal amount of the Loan is of USD 217,304,813.
• On June 21, 2018, CVH announced a mandatory change of control tender offer (OPA) for all Class B common shares issued by Telecom Argentina at the price of Ps. 110.85 per share. The Argentine Securities Commission approval is pending.

SOURCE Cablevisión Holding S.A.

Related Links

https://www.cablevisionholding.com