BUENOS AIRES, Argentina, May 21, 2012 /PRNewswire/ -- Grupo Clarin S.A. ("Grupo Clarin" or the "Company" - LSE: GCLA; BCBA: GCLA), the largest media company in Argentina, announced today its first quarter results for 2012. Figures in this report have been prepared in accordance with International Financial Reporting Standards ("IFRS") as of March 31st, 2012 and are stated in Argentine Pesos, unless otherwise indicated.
Highlights (1Q12 vs. 1Q11):
- Net Sales totaled Ps. 2,539.6 million, an increase of 22.4% from 1Q11, mainly due to ARPU and subscriber growth in the Cable TV and Internet access segment and, to a lesser extent, to higher sales in the Printing and Publishing segment.
- Adjusted EBITDA(1) reached Ps. 644.3 million, an increase of 5.3% from 1Q11, mainly driven by higher sales in the Cable and Internet access and Printing and Publishing segments.
- Grupo Clarin's Adjusted EBITDA Margin(2) for 1Q12 was 25.4%, compared to 29.5% in 1Q11.
- Net Income totaled Ps. 206.3 million, a decrease of 16.7% from the Ps. 247.7 million reported in 1Q11. And the Net Income attributable to Equity Shareholders amount to Ps 118.7 million from Ps. 154.0 million, a decrease of 22.9%.
(In millions of Ps.)
Adjusted EBITDA Margin(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. 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.
(3) We define Net Income as Income for the period.
Grupo Clarin S.A. will host a conference call and webcast presentation on Monday, May 21, 2012 at 11:00 am Eastern Time (12:00 pm Buenos Aires time) to discuss its results for the first quarter ended March 31, 2012.
Presentations by Alejandro Urricelqui, Chief Financial Officer, and Alfredo Marin, Investor Relations Officer, will be in English, based on the earnings release, which will be distributed on May 21, 2012 at 8:00 am Eastern Time (9:00 am Buenos Aires time).
Those interested in connecting via conference call are invited to please dial (0800) 092-3582 toll free from the U.K., 1 (800) 311-9401 toll free from the U.S., (0800) 333-0050 from Argentina, or 1 (334) 323-7224 from elsewhere 5-10 minutes prior to the start time. The Conference ID is 6118.
The webcast presentation will be available at http://www.grupoclarin.com.ar/ir
Investor Relations Contacts
In Buenos Aires:
In New York:
Alfredo Marin /Agustín Medina Manson
Alex Money /Helen Greenwood
Melanie Carpenter /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
SOURCE Grupo Clarin S.A.