Grupo Clarin Announces its Results for the First Quarter of 2010 (1Q10)

Grupo Clarin Announces its Results for the First Quarter of 2010 (1Q10)

BUENOS AIRES, Argentina, May 12 /PRNewswire/ -- Grupo Clarin S.A. ("Grupo Clarin" or the "Company" - LSE: GCLA; BCBA: GCLA), the largest media company in Argentina, announced today its first quarter results for 2010. Figures in this report have been prepared in accordance with Argentine GAAP as of March 31, 2010 and are stated in Argentine Pesos, unless otherwise indicated.

Highlights (1Q10 vs. 1Q09):

-- Net Sales totaled Ps. 1,643.3 million, an increase of 8.8% from 1Q09,
mainly due to ARPU and subscriber growth in the Cable TV and Internet
access segment and, to a lesser extent, higher sales in the Printing
and Publishing segment, and partially offset by lower revenues in the
Broadcasting and Programming segment.
-- Adjusted EBITDA (1) reached Ps. 529.8 million, an increase of 21.6%
from 1Q09, mainly driven by higher sales in the Cable and Internet
access segment.
-- Grupo Clarin's Adjusted EBITDA Margin (2) for 1Q10 was 32.2%, compared
to 28.9% in 1Q09.
-- Net Income totaled Ps. 94.1 million, compared to Ps. (34.8) million
reported in 1Q09.

FINANCIAL HIGHLIGHTS
--------------------

(In millions of %
Ps.) 1Q10 1Q09 Ch. 4Q09 QoQ
---- ---- --- ---- ---
Net Sales 1,643.3 1,509.8 8.8% 1,783.4 (7.9%)
Adjusted EBITDA (1) 529.8 435.7 21.6% 518.6 2.2%
Adjusted EBITDA
Margin (2) 32.2% 28.9% 11.7% 29.1% 10.9%
Net Income 94.1 (34.8) - 95.9 (1.9%)

(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.

Grupo Clarin S.A. will host a conference call and webcast presentation on Wednesday, May 12, 2010 at 11:00am Eastern Time (12:00pm Buenos Aires time) to discuss its results for the first quarter period ended March 31, 2010.

Those interested in connecting via conference call are invited to please dial (0800) 092-3582 toll free from the U.K., 1 (800) 311-9401 toll free from the U.S., (0800) 333-0050 from Argentina, or 1 (334) 323-7224 from elsewhere 5-10 minutes prior to the start time. The Conference ID is #6118.

There will be an accompanying live webcast presentation with slides available at http://www.grupoclarin.com.ar/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 (877) 919-4059 toll free from the U.S., or 1 (334) 323-7226 from anywhere outside the U.S. The replay passcode is: 51048255. The webcast presentation will be archived at http://www.grupoclarin.com.ar/ir

About the Company

Grupo Clarin is the largest media company in Argentina and the market leader in the cable television and Internet access, printing and publishing, and broadcasting and programming segments. Its cable television network is one of the largest in Latin America, with the largest broadband subscriber base in Argentina. Its flagship newspaper -Diario Clarin- is the highest circulation newspaper in Latin America and the second-highest circulation Spanish-language newspaper in the world. Grupo Clarin 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.

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:

Source: Grupo Clarin S.A.

CONTACT: In Buenos Aires: Alfredo Marin, or M. Julia Diaz Ardaya/ Romina
Vazquez, of Grupo Clarin S.A., +54 11 4309 7215, investors@grupoclarin.com; or
In London: Alex Money, or Lorna Ellen, of Temple Bar Advisory Ltd., +44 20
7002 1080, info@templebaradvisory.com; or In New York: Melanie Carpenter, or
Pete Majeski, of I-advize Corporate Communications, +1-212-406-3692,
clarin@i-advize.com

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

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