Grupo Clarin announces its Results for the First Quarter for 2013 (1Q13)
BUENOS AIRES, Argentina, May 13, 2013 /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 2013. Figures in this report have been prepared in accordance with International Financial Reporting Standards ("IFRS") as of March 31, 2013 and are stated in Argentine Pesos, unless otherwise indicated.
Highlights (1Q13 vs. 1Q12):
- Net Sales totaled Ps. 3,042.5 million, an increase of 22.4% from 1Q12, 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. 694.4 million, an increase of 11.9% from 1Q12, mainly driven by higher sales in the Cable and Internet access segment.
- Grupo Clarin's Adjusted EBITDA Margin (2) for 1Q13 was 22.8%, compared to 25.0% in 1Q12.
- Net Income totaled Ps. 95.9 million, a decrease of 53.2% from the Ps. 204.8 million reported in 1Q12, while Net Income attributable to Equity Shareholders decreased 70.2% to Ps 35.3 million from the Ps. 118.7 million reported in 1Q12.
FINANCIAL HIGHLIGHTS
| (In millions of Ps.) |
1Q13 |
1Q12 |
% Ch. |
4Q12 |
QoQ |
| Net Sales |
3,042.5 |
2,486.5 |
22.4% |
3,176.9 |
(4.2%) |
| Adjusted EBITDA (1) |
694.4 |
620.7 |
11.9% |
733.3 |
(5.3%) |
| Adjusted EBITDA Margin (2) |
22.8% |
25.0% |
(8.6%) |
23.1% |
(1.1%) |
| Net Income(3) |
95.9 |
204.8 |
(53.2%) |
415.9 |
(76.9%) |
| Attributable to: |
|||||
| Equity Shareholders |
35.3 |
118.7 |
(70.2%) |
166.9 |
(78.8%) |
| Non-Controlling Interests |
60.5 |
86.1 |
(29.7%) |
249.0 |
(75.7%) |
(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.
(2) We define Adjusted EBITDA Margin as Adjusted EBITDA over Net Sales.
(3) We define Net Income as Income for the period
GCLA: Ps. 11.20 / share (BCBA)
GCLA: USD 2.80 / GDS (LSE)
Total Shares: 287,418,584
Total GDSs: 143,709,292
Market Value: USD 402.4 MM
Closing Price: May 10th, 2013
CONFERENCE CALL AND WEBCAST INFORMATION
Grupo Clarin will host a conference call and webcast to discuss its First Quarter Results for 2013, on Monday, May 13, 2013.
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: 14308690.
The PDF version of the webcast presentation will be available at http://www.grupoclarin.com.ar/ir prior to the call, on May 13th, 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.
| Investor Relations Contacts |
||
| In Buenos Aires: |
In London: |
In New York: |
| Alfredo Marin Agustin Medina Manson |
Alex Money Clare Gallagher |
Melanie Carpenter I-advize Corporate Communications |
| Grupo Clarin S.A. |
Temple Bar Advisory Ltd. |
Tel: +1 212 406 3692 |
| Tel: +54 11 4309 7215 |
Tel: +44 20 7002 1080 |
E-mail: [email protected] |
| Email: [email protected] |
E-mail: [email protected] |
SOURCE Grupo Clarin S.A.
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