BUENOS AIRES, Argentina, May 10, 2018 /PRNewswire/ -- Grupo Clarín S.A. ("Grupo Clarín" or the "Company" - LSE: GCLA; BCBA: GCLA), the largest media company in Argentina, announced today its first quarter 2018 results. Figures in this report have been prepared in accordance with International Financial Reporting Standards ("IFRS") as of March 31, 2018, and are stated in Argentine Pesos, unless otherwise indicated.
Highlights (1Q18 vs. 1Q17):
- Total Revenues reached Ps. 3,073.3 million, an increase of 14.9% compared to 1Q17, mainly due to higher circulation revenues in the Printing and Publishing segment and to a lesser extent, driven by higher programming and advertising sales in the Broadcasting and Programming segment.
- Adjusted EBITDA (1) reached Ps. 104.3 million, an increase of 219.7% compared to 1Q17, mainly driven by an improvement in the Printing and Publishing segment EBITDA.
- Adjusted EBITDA Margin (2) was 3.4% in 1Q18, compared to (3.3%) in 1Q17.
- Income for the period totaled Ps. 9.0 million, a decrease of 99.5% compared to Ps. 1,806.5 million posted in 1Q17 (including Cablevisión's results). Income for the period attributable to Equity Shareholders amounted Ps 18.2 million in 1Q18, a decrease of 98.3% compared to Ps. 1,048.7 million in 1Q17.
FINANCIAL HIGHLIGHTS
| (In millions of Ps.) |
1Q18 |
1Q17 |
% Ch. |
4Q17 |
QoQ |
| Total Revenues |
3,073.3 |
2,675.8 |
14.9% |
4,116.8 |
(25.3%) |
| Adjusted EBITDA (1) |
104.3 |
(87.1) |
(219.7%) |
507.1 |
(79.4%) |
| Adjusted EBITDA Margin (2) |
3.4% |
(3.3%) |
(204.2%) |
12.3% |
(72.4%) |
| Income for the period |
9.0 |
1,806.5 |
(99.5%) |
(16.7) |
(154.1%) |
| Attributable to: |
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| Equity Shareholders |
18.2 |
1,048.7 |
(98.3%) |
(22.7) |
(180.3%) |
| Non-Controlling Interests |
(9.2) |
757.8 |
(101.2%) |
6.0 |
(253.2%) |
| (1) Adjusted EBITDA is defined as Total Revenues 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 based on 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. |
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| (2) Adjusted EBITDA Margin is defined as Adjusted EBITDA over Total Revenues. |
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| Investor Relations Contacts |
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| In Buenos Aires: |
In London: |
In New York: |
| Agustín Medina Manson Patricio Gentile |
Alex Money Jasford IR |
Melanie Carpenter
|
| Grupo Clarín S.A. |
I-advize Corporate Communications |
|
| Tel: +54 11 4309 7215 |
Tel: +44 20 3289 5300 |
Tel: +1 212 406 3692 |
| Email: investors@grupoclarin.com |
E-mail: alex@jasford.com |
E-mail: clarin@i-advize.com |
SOURCE Grupo Clarín S.A.