Grupo Clarin announces its Results for the First Quarter for 2014 (1Q14) - KMPH FOX 26 | Central San Joaquin Valley News Source

Grupo Clarin announces its Results for the First Quarter for 2014 (1Q14)

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SOURCE Grupo Clarin S.A.

BUENOS AIRES, Argentina, May 12, 2014 /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 2014. Figures in this report have been prepared in accordance with International Financial Reporting Standards ("IFRS") as of March 31th, 2014 and are stated in Argentine Pesos, unless otherwise indicated.

Highlights (1Q14 vs. 1Q13):

  • Net Sales totaled Ps. 4,007.8 million, an increase of 32.2% from 1Q13, 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.
  • Adjusted EBITDA (1) reached Ps. 1,030.1 million, an increase of 47.7% from 1Q13, mainly driven by higher sales in the Cable and Internet access segment.
  • Grupo Clarin's Adjusted EBITDA Margin (2) for 1Q14 was 25.7%, compared to 23.0% in 1Q13.
  • (Loss) / Income for the period totaled Ps. (41.9) million and the (Loss) / Income for the period attributable to Equity Shareholders totaled Ps (31.5) million.

FINANCIAL HIGHLIGHTS





(In millions of Ps.)

1Q14

1Q13

% Ch.

Net Sales

4,007.8

3,030.7

32.2%

Adjusted EBITDA (1)

1,030.1

697.5

47.7%

Adjusted EBITDA Margin (2)

25.7%

23.0%

11.7%

(Loss) / Income for the period

(41.9)

95.9

(143.6%)

Attributable to:




Equity Shareholders

(31.5)

35.3

(189.1%)

Non-Controlling Interests

(10.4)

60.5

(117.1%)

 

(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:

In London:

In New York:




Alfredo Marin

Agustin Medina Manson

Alex Money

 

Melanie Carpenter

 




Grupo Clarin S.A.

Jasford IR

I-advize Corporate Communications

Tel: +54 11 4309 7215

Tel: +44 20 3289 5300

Tel: +1 212 406 3692

Email: investors@grupoclarin.com

E-mail: alex@jasford.com

E-mail: clarin@i-advize.com 

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