Grupo Clarin announces its Results for the Nine Months (9M15) and Third Quarter of 2015 (3Q15)

Nov 11, 2015, 07:22 ET from Grupo Clarin

BUENOS AIRES, Argentina, Nov. 11, 2015 /PRNewswire/ -- Grupo Clarin S.A. ("Grupo Clarin" or the "Company" - LSE: GCLA; BCBA: GCLA), the largest media company in Argentina, announced today its nine months and third quarter results for 2015. Figures in this report have been prepared in accordance with International Financial Reporting Standards ("IFRS") as of September 30th, 2015 and are stated in Argentine Pesos, unless otherwise indicated.

Highlights (9M15 vs. 9M14):

  • Net Sales totaled Ps. 19,924.0 million, an increase of 43.2% from 9M14, mainly due to ARPU and subscriber growth in the Cable TV and Internet access segment and, to a lesser extent, to higher advertising sales in the Broadcasting and Programming segment and circulation sales in the Printing and Publishing segment.
  • Adjusted EBITDA(1) reached Ps. 6,380.3 million, an increase of 79.3% from 9M14, mainly driven by higher sales in the Cable and Internet access segment.
  • Grupo Clarin's Adjusted EBITDA Margin(2) for 9M15 was 32.0%, compared to 25.6% in 9M14.
  • Income for the period totaled Ps. 2,740.2 million, an increase of 260.3% from the Ps. 760.6 million reported in 9M14, and the Income for the period attributable to Equity Shareholders amount to Ps 1,744.2 million from Ps. 446.9 million, an increase of 290.3%.

FINANCIAL HIGHLIGHTS










(In millions of Ps.)

9M15

9M14

% Ch.

3Q15

2Q15

3Q14

QoQ

YoY

Net Sales

19,924.0

13,909.1

43.2%

7,402.2

6,557.6

5,141.9

12.9%

44.0%

Adjusted EBITDA(1)

6,380.3

3,559.1

79.3%

2,433.9

2,015.4

1,335.9

20.8%

82.2%

Adjusted EBITDA Margin(2)

32.0%

25.6%

25.1%

32.9%

30.7%

26.0%

7.0%

26.6%

Income for the period

2,740.2

760.6

260.3%

1,063.2

876.7

452.9

21.3%

134.8%

Attributable to:









Equity Shareholders

1,744.2

446.9

290.3%

709.9

565.1

260.8

25.6%

172.2%

Non-Controlling Interests

996.0

313.7

217.5%

353.3

311.6

192.1

13.4%

83.9%

(1) We define Adjusted EBITDA as net sales 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 on the basis of 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 Net Sales.

Investor Relations Contacts  

In Buenos Aires: 
Alfredo Marin
Agustin Medina Manson 
Grupo Clarin S.A.
Tel: +54-11-4309-7215 
Email: investors@grupoclarin.com  

In London: 
Alex Money
Jasford IR 
Tel: +44-20-3289-5300
E-mail: alex@jasford.com

In New York:
Melanie Carpenter
i-advize Corporate Communications
Tel: +1-212-406-3692
E-mail: clarin@i-advize.com  

SOURCE Grupo Clarin



RELATED LINKS

http://www.grupoclarin.com/ir