Grupo Clarin announces its Results for the Nine Months (9M13) and Third Quarter of 2013 (3Q13)
BUENOS AIRES, Argentina, Nov. 8, 2013 /PRNewswire/ -- Grupo Clarin S.A. ("Grupo Clarin" or the "Company" - LSE: GCLA; BCBA: GCLA), the largest media company in Argentina, announced today its nine months and third quarter results for 2013. Figures in this report have been prepared in accordance with International Financial Reporting Standards ("IFRS") as of September 30th, 2013 and are stated in Argentine Pesos, unless otherwise indicated.
Highlights (9M13 vs. 9M12):
- Net Sales totaled Ps. 10,141.3 million, an increase of 24.6% from 9M12, 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. 2,303.5 million, an increase of 13.0% from 9M12, mainly driven by higher sales in the Cable and Internet access and Broadcasting and Programming segments.
- Grupo Clarin's Adjusted EBITDA Margin(2) for 9M13 was 22.7%, compared to 25.0% in 9M12.
- Net Income totaled Ps. 479.5 million, a decrease of 13.8% from the Ps. 556.5 million reported in 9M12, while the Net Income attributable to Equity Shareholders decreased 15.2% to Ps 267.5 million from Ps. 315.4 million.
FINANCIAL HIGHLIGHTS
| (In millions of Ps.) |
9M13 |
9M12 |
% Ch. |
3Q13 |
2Q13 |
3Q12 |
QoQ |
YoY |
| Net Sales |
10,141.3 |
8,142.0 |
24.6% |
3,760.1 |
3,338.6 |
2,930.2 |
12.6% |
28.3% |
| Adjusted EBITDA(1) |
2,303.5 |
2,039.3 |
13.0% |
890.9 |
718.1 |
711.8 |
24.1% |
25.2% |
| Adjusted EBITDA Margin(2) |
22.7% |
25.0% |
(9.3%) |
23.7% |
21.5% |
24.3% |
10.2% |
(2.5%) |
| Net Income(3) |
479.5 |
556.5 |
(13.8%) |
280.6 |
103.0 |
156.3 |
172.6% |
79.6% |
| Attributable to: |
||||||||
| Equity Shareholders |
267.5 |
315.4 |
(15.2%) |
183.8 |
48.4 |
89.1 |
280.1% |
106.3% |
| Non-Controlling Interests |
212.0 |
241.0 |
(12.0%) |
96.8 |
54.6 |
67.2 |
77.4% |
44.2% |
(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. 18.45 / share (BCBA)
GCLA: USD 4.10 / GDS (LSE)
Total Shares: 287,418,584
Total GDSs: 143,709,292
Market Value: USD 589.2 MM
Closing Price: November 7th, 2013
| Investor Relations Contacts |
||
| In Buenos Aires: |
In London: |
In New York: |
| Alfredo Marin Agustin Medina Manson |
Alex Money Clare Gallagher |
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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