Grupo Clarín announces its Results for the First Quarter 2016 (1Q16)
BUENOS AIRES, Argentina, May 12, 2016 /PRNewswire/ -- Grupo Clarín S.A. ("Grupo Clarín" or the "Company" - LSE: GCLA; BCBA: GCLA), the largest media company in Argentina, announced today its first quarter results for 2016. Figures in this report have been prepared in accordance with International Financial Reporting Standards ("IFRS") as of March 31th, 2016 and are stated in Argentine Pesos, unless otherwise indicated.
Highlights (1Q16 vs. 1Q15):
- Net Sales totaled Ps. 8,985.6 million, an increase of 50.5% from 1Q15, mainly due to ARPU and subscriber growth in the Cable TV and Internet access businesses, and, to a lesser extent, driven by the consolidation of Nextel Argentina in the Cable TV, Internet access and Telephony segment.
- Adjusted EBITDA (1) reached Ps. 2,844.7 million, an increase of 46.9% from 1Q15, mainly driven by higher sales in the Cable, Internet access and Telephony segment.
- Grupo Clarín's Adjusted EBITDA Margin (2) for 1Q16 was 31.7%, compared to 32.4% in 1Q15.
- Income for the period totaled Ps. 1,113.2 million, an increase of 39.1% from the Ps. 800.3 million reported in 1Q15, and the Income for the period attributable to Equity Shareholders amount to Ps 632.7 million from Ps. 469.2 million, an increase of 34.8%.
FINANCIAL HIGHLIGHTS |
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(In millions of Ps.) |
1Q16 |
1Q15 |
% Ch. |
4Q15 |
QoQ |
Net Sales |
8,985.6 |
5,969.5 |
50.5% |
7,810.1 |
15.1% |
Adjusted EBITDA (1) |
2,844.7 |
1,936.1 |
46.9% |
1,954.0 |
45.6% |
Adjusted EBITDA Margin (2) |
31.7% |
32.4% |
(2.4%) |
25.0% |
26.5% |
Income for the period |
1,113.2 |
800.3 |
39.1% |
175.7 |
533.6% |
Attributable to: |
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Equity Shareholders |
632.7 |
469.2 |
34.8% |
140.7 |
349.6% |
Non-Controlling Interests |
480.5 |
331.1 |
45.1% |
35.0 |
1,273.7% |
(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. |
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(2) We define Adjusted EBITDA Margin as Adjusted EBITDA over Net Sales. |
Investor Relations Contacts |
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In Buenos Aires: |
In London: |
In New York: |
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Alfredo Marín Agustín Medina Manson |
Alex Money Jasford IR |
Melanie Carpenter
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Grupo Clarín S.A. |
i-Advize Corporate Communications |
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Tel: +54 11 4309 7215 |
Tel: +44 20 3289 5300 |
Tel: +1 212 406 3692 |
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Email: [email protected] |
E-mail: [email protected] |
E-mail: [email protected] |
SOURCE Grupo Clarin
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