Grupo Clarin Announces Its Fourth Quarter(4Q10) and Full Year (FY10) Results for 2010

Mar 11, 2011, 09:07 ET from Grupo Clarin S.A.

BUENOS AIRES, Argentina, March 11, 2011 /PRNewswire/ -- Grupo Clarin S.A. ("Grupo Clarin" or the "Company" - LSE: GCLA; BCBA: GCLA), the largest media company in Argentina, announced today its fourth quarter and full year results for 2010. Figures in this report have been prepared in accordance with Argentine GAAP as of December 31st, 2010 and are stated in Argentine Pesos, unless otherwise indicated.

Highlights (FY10 vs. FY09):

  • Net Sales totaled Ps. 7,632.0 million, an increase of 14.3% from 2009, 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 Printing and Publishing segment and higher sales in Broadcasting and Programming.
  • Adjusted EBITDA(1) reached Ps. 2,351.8 million, an increase of 18.4% from 2009, mainly driven by higher sales in the Cable and Internet access segment.
  • Grupo Clarin's Adjusted EBITDA Margin(2) for 2010 was 30.8%, compared to 29.7% in 2009.
  • Net Income totaled Ps. 533.7 million, an increase of 83.9% from the Ps. 290.1 million reported in 2009.

FINANCIAL HIGHLIGHTS

















(In millions of Ps.)

2010

2009

% Ch.

4Q10

3Q10

4Q09

QoQ

YoY

Net Sales

7,632.0

6,678.8

14.3%

2,129.9

1,986.0

1,783.4

7.2%

19.4%

Adjusted EBITDA (1)

2,351.8

1,985.7

18.4%

602.9

595.9

518.6

1.2%

16.2%

Adjusted EBITDA Margin(2)

30.8%

29.7%

3.6%

28.3%

30.0%

29.1%

(5.7%)

(2.7%)

Net Income

533.7

290.1

83.9%

152.6

134.0

95.9

13.9%

59.2%




(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. Because Adjusted EBITDA is not an Argentine GAAP measure, 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:

In London:

In New York:


Alfredo Marin

Alex Money

Melanie Carpenter


Agustin Medina Manson

Lorna Ellen

Pete Majeski


Grupo Clarin S.A.

Temple Bar Advisory Ltd.

i-advize Corporate Communications


Tel:  +54 11 4309 7215

Tel: +44 20 7002 1080

Tel: +1 212 406 3692


Email: investors@grupoclarin.com

E-mail: clarin@templebaradvisory.com

Email: clarin@i-advize.com



SOURCE Grupo Clarin S.A.



RELATED LINKS

http://www.grupoclarin.com/ir