Grupo Clarin Announces its Results for the First Half (1H12) and Second Quarter of 2012 (2Q12)

BUENOS AIRES, Argentina, Aug. 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 half and second quarter results for 2012. Figures in this report have been prepared in accordance with International Financial Reporting Standards ("IFRS") as of June 30th, 2012 and are stated in Argentine Pesos, unless otherwise indicated.

Highlights (1H12 vs. 1H11):

• Net Sales totaled Ps. 5,345.3 million, an increase of 22.9% from 1H11, 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. 1,379.2 million, an increase of 6.9% from 1H11, mainly driven by higher sales in the Cable and Internet access segment.
• Grupo Clarin's Adjusted EBITDA Margin(2) for 1H12 was 25.8%, compared to 29.7% in 1H11.
• Net Income totaled Ps. 400.2 million, a decrease of 18.1% from the Ps. 488.7 million reported in 1H11. Net Income attributable to Equity Shareholders amounted to Ps 226.4 million, a decrease of 28.5% from Ps. 316.7 million.

(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.

GCLA: Ps.  7.80  / share (BCBA)
GCLA: USD  3.80   / GDS (LSE)
Total Shares: 287,418,584
Total GDSs: 143,709,292
Market Value: USD  546.1  MM
Closing Price: August 17th, 2012

Grupo Clarin S.A. will host a conference call and webcast presentation TODAY, Tuesday, August 21, 2012 at 11:00 am Eastern Time (12:00 pm Buenos Aires time) to discuss its results for the second quarter ended June 30, 2012.  

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.

There will be a two week replay available starting one hour after the conclusion of the conference call. To access the replay, please dial 1 (877) 919-4059 toll free from the U.S., or 1 (334) 323-7226 from anywhere outside the U.S. The replay passcode is: 45874990. The webcast presentation will be archived at http://www.grupoclarin.com.ar/ir.

SOURCE Grupo Clarin S.A.

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