BUENOS AIRES, ARGENTINA / ACCESSWIRE / August 12, 2019 / Grupo Clarín S.A. (“Grupo Clarín” or the “Company”) (LSE:GCLA) (BCBA:GCLA), the largest media company in Argentina, announced today its first half and second quarter 2019 results. Figures in this report have been prepared in accordance with International Financial Reporting Standards (*) (“IFRS”) as of June 30, 2019, and are stated in constant Argentine Pesos (“Ps”), unless otherwise indicated.
(*) The Company’s Management has applied IAS 29 in the preparation of these financial statements (inflation adjustment) because Resolution 777/18, issued by the Comisión Nacional de Valores (“CNV”), establishes that the restatement will be applied to the financial statements.
Highlights (1H19 vs.1H18):
- Total Revenues reached Ps. 10,043.5 million, a decrease of 15.1% compared to 1H18, mainly due to lower advertising revenues in all segments and lower circulation in the Printing and Publishing segment.
- Adjusted EBITDA (1) reached Ps. 755.6 million, a decrease of 24.3% compared to 1H18, mainly driven by negative results in the Printing and Publishing segment.
- Grupo Clarín’s Adjusted EBITDA Margin (2) was 7.5% in June 2019, compared to 8.4% in 1H18.
- Income for the period totaled Ps. (231.0) million, a decrease of 140.2% compared to Ps. 574.9 million reported in 1H18. Income for the period attributable to Equity Shareholders amounted to Ps (174.0) million in 1H19 from Ps. 595.8 million in 1H18, a decrease of 129.2%.
FINANCIAL HIGHLIGHTS
|
(In millions of Ps.)
|
1H19 | 1H18 | % Ch. | 2Q19 | 1Q19 | 2Q18 | QoQ | YoY | ||||||||||||||||||||||||
|
Total Revenues
|
10,043.5 | 11,835.7 | (15.1 | %) | 5,544.2 | 4,499.3 | 6,367.5 | 23.2 | % | (12.9 | %) | |||||||||||||||||||||
|
Adjusted EBITDA (1)
|
755.6 | 998.0 | (24.3 | %) | 491.3 | 264.4 | 721.0 | 85.8 | % | (31.9 | %) | |||||||||||||||||||||
|
Adjusted EBITDA Margin (2)
|
7.5 | % | 8.4 | % | (10.8 | %) | 8.9 | % | 5.9 | % | 11.3 | % | 50.8 | % | (21.7 | %) | ||||||||||||||||
|
Income for the period
|
(231.0 | ) | 574.9 | (140.2 | %) | 82.1 | (313.1 | ) | 644.6 | (126.2 | %) | (87.3 | %) | |||||||||||||||||||
|
Attributable to:
|
||||||||||||||||||||||||||||||||
|
Equity Shareholders
|
(174.0 | ) | 595.8 | (129.2 | %) | 68.1 | (242.1 | ) | 634.7 | 128.1 | % | (89.3 | %) | |||||||||||||||||||
|
Non-Controlling Interests
|
(57.0 | ) | (20.9 | ) | (173.1 | %) | 14.0 | (70.9 | ) | 9.9 | 119.7 | % | (40.7 | %) | ||||||||||||||||||
(1) We define Adjusted EBITDA 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.
(2) We define Adjusted EBITDA Margin as Adjusted EBITDA over Total Revenues.
For a full version of this earnings release with financial statements, go to: https://www.grupoclarin.com/ir
Investor Relations Contacts
In Buenos Aires:
Grupo Clarín S.A.
Agustín Medina Manson
Tel: +54 11 4309 7215
Email: [email protected]
In London:
Jasford IR
Alex Money
Tel: +44 20 3289 5300
E-mail: [email protected]
In New York:
i-advize Corporate Communications
Melanie Carpenter
Tel: +1 212 406 3692
Email: [email protected]
CONFERENCE CALL AND WEBCAST INFORMATION
GRUPO CLARIN S.A.
(BCBA:GCLA) (LSE:GCLA)
cordially invites you to participate in its conference call and webcast presentation
to discuss Second Quarter 2019 Results
Date: Thursday, August 15, 2019
Time: 12:00pm Buenos Aires Time/4:00pm London Time/11:00am New York Time
To access the conference call, please dial:
Argentina Participants: 0-800-666-0250
U.S. Participants: 1-877-830-2576
All other countries: +1-785-424-1726
Passcode: CLARIN
The 2Q19 results will be accompanied by a webcast presentation. To access the live stream and slide presentation, visit: https://services.choruscall.com/links/gcla190815iNYvbPPn.html
There will be a replay available, for 7 days, starting four hours after the conclusion of the conference call. To access the replay, please dial 1-844-488-7474 toll free from the U.S., or +1-862-902-0129 from anywhere outside the U.S. The replay passcode is: 83147466.
The webcast presentation will be archived at http://www.grupoclarin.com.ar/ir
ABOUT THE COMPANY
Grupo Clarín is the largest media company in Argentina and a leading company in printing and publishing and broadcasting and programming markets. Its flagship newspaper -Diario Clarín- is one of the highest circulation newspapers in Latin America. Grupo Clarín 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.
Disclaimer
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Grupo Clarín. You can identify forward-looking statements by terms such as “expect”, “believe”, “anticipate”, “estimate”, “intend”, “will”, “could”, “may” or “might” the negative of such terms or other similar expressions. These statements are only predictions and actual events or results may differ materially. Grupo Clarín does not intend to or undertake any obligation to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in Grupo Clarín’s projections or forward-looking statements, including, among others, general economic conditions, Grupo Clarín’s competitive environment, risks ssociated with operating in Argentina a, rapid technological and market change, and other factors specifically related to Grupo Clarín and its operations.
SOURCE: Grupo Clarín S.A.