Grupo Clarin Announces its First Half (1H09) and Second Quarter (2Q09) Results for 2009

Grupo Clarin Announces its First Half (1H09) and Second Quarter (2Q09) Results for 2009

BUENOS AIRES, Argentina, Aug. 11 /PRNewswire-FirstCall/ -- Grupo Clarin S.A. ("Grupo Clarin" or the "Company" - LSE: GCLA; BCBA: GCLA), the largest media company in Argentina, announced today its first half and second quarter results for 2009. Figures in this report have been prepared in accordance with Argentine GAAP as of June 30, 2009 and are stated in Argentine Pesos, unless otherwise indicated.

Highlights (1H09 vs. 1H08):

-- Net Sales totaled Ps. 3,227.2 million, an increase of 23.9% from 1H08, mainly due to ARPU and subscriber growth in the Cable TV and Internet access segment and, to a lesser extent, to higher advertising and programming sales in Broadcasting and Programming, and higher advertising sales in the Printing and Publishing segments.

-- Adjusted EBITDA (1) reached Ps. 963.0 million, an increase of 25.9% from 1H08, mainly driven by higher sales in the Cable and Internet access and Broadcasting and Programming segments, and also in the Printing and Publishing segment.

-- Grupo Clarin's Adjusted EBITDA Margin (2) was 29.8% for 1H09, compared to 29.4% of 1H08.

-- Net Income totaled Ps. 90.9 million, a decrease of 58.1% from Ps. 216.8 million reported in 1H08.

FINANCIAL HIGHLIGHTS

(In millions of Ps.) 1H09 1H08 YoY 2Q09
Net Sales 3,227.2 2,604.8 23.9% 1,717.4
Adjusted EBITDA (1) 963.0 764.7 25.9% 527.3
Adjusted EBITDA Margin (2) 29.8% 29.4% 1.6% 30.7%
Net Income 90.9 216.8 (58.1%) 125.7

(In millions of Ps.) 1Q09 2Q08 QoQ YoY
Net Sales 1,509.8 1,409.1 13.7% 21.9%
Adjusted EBITDA (1) 435.7 412.2 21.0% 27.9%
Adjusted EBITDA Margin (2) 28.9% 29.3% 6.4% 5.0%
Net Income (34.8) 136.9 (460.8%) (8.1%)

(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.

CONFERENCE CALL AND WEBCAST INFORMATION

Grupo Clarin will host a conference call and webcast to discuss its first half and second quarter results for 2009, on Tuesday, August 11, 2009.

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

Time: 12 pm Buenos Aires Time/4:00 pm London Time/11:00 am New York Time

To access the conference call, please dial: from within Argentina + 0 800 333 0050; from within the United Kingdom +44 (800) 092 3582; from within the United States +1 (800) 311 9401; and from all other countries +1 (334) 323 7224. The Conference ID is #6118.

To access the simultaneous webcast presentation, please direct your browser to: http://www.grupoclarin.com/ir

There will be a 60 day replay available starting one hour after the conclusion of the conference call. To access the replay, please dial +1 (877) 919-4059 toll free from the U.S., or +1 (334) 323-7226 from anywhere outside the U.S. The replay passcode is: 29975239

The PDF version of the webcast presentation will be available at http://www.grupoclarin.com.ar/ir prior to the call, on August 11, and archived in our Website after its conclusion.

A LONGER VERSION OF THIS PRESS RELEASE WITH DETAILED INFORMATION AND COMPLETE FINANCIAL STATEMENTS CAN BE OBTAINED FROM http://www.grupoclarin.com/IR OR BY CONTACTING:

Investor Relations Contacts
In Buenos Aires:

Alfredo Marin
M. Julia Diaz Ardaya
Grupo Clarin S.A.
Tel: +54 11 4309 7215
Email: investors@grupoclarin.com

In London:

Alejandro Yu
Alex Money
Lorna Ellen
Temple Bar Advisory Ltd.
Tel: +44 20 7002 1080
E-mail: info@templebaradvisory.com

In New York:

Melanie Carpenter
Pete Majeski
i-advize Corporate Communications
Tel: +1 212 406 3692
E-mail: clarin@i-advize.com

Source: Grupo Clarin

CONTACT: Investor Relations Contacts, in Buenos Aires, Alfredo Marin, M.
Julia Diaz Ardaya, both of Grupo Clarin S.A., +011-54-11-4309-7215,
investors@grupoclarin.com; or in London, Alejandro Yu, Alex Money, or Lorna
Ellen, all of Temple Bar Advisory Ltd., +011-44-20-7002-1080,
info@templebaradvisory.com, for Grupo Clarin; or in New York, Melanie
Carpenter, Pete Majeski, both of i-advize Corporate Communications,
+1-212-406-3692, clarin@i-advize.com, for Grupo Clarin

Web site: http://www.grupoclarin.com/ir

-------
Profile: intent