Grupo Clarin announces its Results for the Fourth Quarter (4Q12) and Full Year of 2012 (FY12)

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Mar 11, 2013, 08:05 ET

BUENOS AIRES, Argentina, March 11, 2013 /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 2012. Figures in this report have been prepared in accordance with International Financial Reporting Standards ("IFRS") as of December 31^st, 2012 and are stated in Argentine Pesos, unless otherwise indicated.

Highlights (FY12 vs. FY11):

Net Sales totaled Ps. 11,318.9 million, an increase of 21.4% from 2011, 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. 2,772.7 million, an increase of 12.0% from 2011, mainly driven by higher sales in the Cable and Internet access segment.
Grupo Clarin's Adjusted EBITDA Margin ⁽²⁾ for 2012 was 24.5%, compared to 26.5% in 2011.
Net Income totaled Ps. 972.3 million; an increase of 23.8% from the Ps. 785.6 million reported in 2011, while Net Income attributable to Equity Shareholders decreased 6.3% to Ps 482.3 million from Ps. 514.8 million reported 2011.

FINANCIAL HIGHLIGHTS

*(In millions of Ps.)*	2012	2011	% Ch.	4Q12	3Q12	4Q11	QoQ	YoY
Net Sales	11,318.9	9,325.2	21.4%	3,176.9	2,930.2	2,715.0	8.4%	17.0%
Adjusted EBITDA ⁽¹⁾	2,772.7	2,475.6	12.0%	733.3	711.8	647.4	3.0%	13.3%
Adjusted EBITDA Margin ⁽²⁾	24.5%	26.5%	(7.7%)	23.1%	24.3%	23.8%	(5.0%)	(3.2%)
Net Income⁽³⁾	972.3	785.6	23.8%	415.9	156.3	124.3	166.1%	234.6%
Attributable to:
Equity Shareholders	482.3	514.8	(6.3%)	166.9	89.1	80.9	87.3%	106.3%
Non-Controlling Interests	490.0	270.9	80.9%	249.0	67.2	43.4	270.6%	473.3%

(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 will host a conference call and webcast to discuss Fourth Quarter and Full Year 2012 Results, on Monday, March 11^th, 2013.

Time: 12:00 pm Buenos Aires Time/3:00 pm London Time/11:00 am New York Time.

To access the conference call, please dial: from within Argentina + 0 800 333 0050; from within the United Kingdom +44 (800) 092 3582; from within the United States +1 (800) 311 9401; and from all other countries +1 (334) 323 7224. The Conference ID is #6118.

To access the simultaneous webcast presentation, please direct your browser to: http://www.grupoclarin.com/ir

A replay of the conference call will be available one hour after its conclusion, and will remain available for two weeks. To access the replay please dial, from the within the U.S., +1-877-919-4059, or from anywhere outside the U.S., +1-334-323-7226. The passcode is: 19716326.

The PDF version of the webcast presentation will be available at http://www.grupoclarin.com.ar/ir prior to the call, on March 11^th, and archived in our Website after its conclusion.

ABOUT THE COMPANY

Grupo Clarin is the largest media company in Argentina and a leading company in the cable television and Internet access, printing and publishing, and broadcasting and programming markets. Its cable television network is one of the largest in Latin America in term of subscribers, and is a leading broadband provider in Argentina. Its flagship newspaper –Diario Clarin– is one of the highest circulation newspapers in Latin America. Grupo Clarin is the largest producer of media content in Argentina, including news, sports and entertainment and reaches substantially all segments of the Argentine population in terms of wealth, geography and age.

Disclaimer
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Grupo Clarin. You can identify forward-looking statements by terms such as "expect", "believe", "anticipate", "estimate", "intend", "will", "could", "may" or "might" the negative of such terms or other similar expressions. These statements are only predictions and actual events or results may differ materially. Grupo Clarin does not intend to or undertake any obligation to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in Grupo Clarin's projections or forward-looking statements, including, among others, general economic conditions, Grupo Clarin's competitive environment, risks associated with operating in Argentina a, rapid technological and market change, and other factors specifically related to Grupo Clarin and its operations.

Investor Relations Contacts
In Buenos Aires:	In London:	In New York:

Alfredo Marin Agustin Medina Manson	Alex Money Clare Gallagher	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
Email: [email protected]	E-mail: [email protected]	E-mail: [email protected]