Grupo Clarin Announces its Results for the Fourth Quarter (4Q11) and Full Year of 2011 (FY11)

BUENOS AIRES, Argentina, March 12, 2012 /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 2011. Figures in this report have been prepared in accordance with Argentine GAAP as of December 31^th, 2011 and are stated in Argentine Pesos, unless otherwise indicated.

Highlights (FY11 vs. FY10):

• Net Sales totaled Ps. 9,752.5 million, an increase of 27.8% from 2010, 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 and Printing and Publishing segments.
• Adjusted EBITDA(1) reached Ps. 2,598.7 million, an increase of 10.5% from 2010, mainly driven by higher sales in the Cable and Internet Access segment.
• Grupo Clarin's Adjusted EBITDA Margin(2) for 2011 was 26.6%, compared to 30.8% in 2010.
• Net Income totaled Ps. 522.3 million, a decrease of 2.9% from the Ps. 538.1 million reported in 2010.

FINANCIAL HIGHLIGHTS

(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. Because Adjusted EBITDA is not an Argentine GAAP measure, 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.

GRUPO CLARIN S.A.
will host a conference call and webcast presentation to discuss Fourth Quarter 2011 Results

Date: Monday, March 12, 2012
Time: 12:00 pm Buenos Aires Time/3:00 pm London Time/11:00 am New York Time

Presentations by:
Alejandro Urricelqui, Chief Financial Officer
Alfredo Marin, Investor Relations Officer

To access the conference call, please dial:
Argentina Participants: (0800) 333-0050
U.K. Participants: (0800) 092-3582
U.S. Participants: +1 (800) 311-9401
All other countries: +1 (334) 323-7224
Passcode: 6118

To access the simultaneous webcast presentation, please go to:
http://www.grupoclarin.com.ar/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: 32376572. The webcast presentation will be archived at http://www.grupoclarin.com.ar/ir.

About the Company

Grupo Clarin is the largest media company in Argentina and market leader in the cable television and Internet access, printing and publishing, and broadcasting and programming segments. Its cable television network is one of the largest in Latin America, with the one of the largest broadband subscriber base in Argentina. Its flagship newspaper –Diario Clarin– is the highest circulation newspaper in Latin America and one of the highest circulation Spanish-language newspaper in the world. 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. 

SOURCE Grupo Clarin S.A.

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