Grupo Clarin announces its Results for the Fourth Quarter (4Q13) and Full Year of 2013 (FY13)

News provided by

Grupo Clarin S.A.

Mar 11, 2014, 09:59 ET

BUENOS AIRES, Argentina, March 11, 2014 /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 2013. Figures in this report have been prepared in accordance with International Financial Reporting Standards ("IFRS") as of December 31th, 2013 and are stated in Argentine Pesos, unless otherwise indicated.

Highlights (FY13 vs. FY12):

  • Net Sales totaled Ps. 14,184.3 million, an increase of 25.3% from 2012, 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. 3,274.0 million, an increase of 18.1% from 2012, mainly driven by higher sales in the Cable and Internet access and in the Broadcasting and Programming segments.
  • Grupo Clarin's Adjusted EBITDA Margin (2) for 2013 was 23.1%, compared to 24.5% in 2012.
  • Net Income totaled Ps. 800.7 million, a decrease of 17.7% from the Ps. 972.3 million reported in 2012, while the Net Income attributable to Equity Shareholders decreased 0.5% to Ps 479.8 million from Ps. 482.3 million.

FINANCIAL HIGHLIGHTS










(In millions of Ps.)

2013

2012

% Ch.

4Q13

3Q13

4Q12

QoQ

YoY

Net Sales

14,184.3

11,318.9

25.3%

4,043.0

3,760.1

3,176.9

7.5%

27.3%

Adjusted EBITDA (1)

3,274.0

2,772.7

18.1%

970.5

890.9

733.3

8.9%

32.3%

Adjusted EBITDA Margin (2)

23.1%

24.5%

(5.8%)

24.0%

23.7%

23.1%

1.3%

4.0%

Net Income(3)

800.7

972.3

(17.7%)

321.2

280.6

415.9

14.5%

(22.8%)

Attributable to:







Equity Shareholders

479.8

482.3

(0.5%)

212.4

183.8

166.9

15.6%

27.3%

Non-Controlling Interests

320.83

490.0

(34.5%)

108.8

96.8

249.0

12.4%

(56.3%)

(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

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: [email protected]

E-mail: [email protected]

E-mail: [email protected]

SOURCE Grupo Clarin S.A.

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