Grupo Clarin announces its Results for the First Half (1H14) and Second Quarter of 2014 (2Q14)

Grupo Clarin announces its Results for the First Half (1H14) and Second Quarter of 2014 (2Q14)

BUENOS AIRES, Argentina, Aug. 11, 2014 /PRNewswire/ -- 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 2014. Figures in this report have been prepared in accordance with International Financial Reporting Standards ("IFRS") as of June 30(th), 2014 and are stated in Argentine Pesos, unless otherwise indicated.

Highlights (1H14 vs. 1H13):


-- Net Sales totaled Ps. 8,767.2 million, an increase of 38.2% from 1H13,
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. 2,223.2 million, an increase of 57.6%
from 1H13, mainly driven by higher sales in the Cable and Internet
access segment.
-- Grupo Clarin's Adjusted EBITDA Margin ((2)) for 1H14 was 25.4%, compared
to 22.2% in 1H13.
-- Income for the period totaled Ps. 307.7 million, an increase of 54.8%
from the Ps. 198.8 million reported in 1H13, and the Income for the
period attributable to Equity Shareholders amount to Ps 186.1 million
from Ps. 83.7 million, an increase of 122.4%.
FINANCIAL HIGHLIGHTS




(In millions of Ps.) 1H14 1H13 % Ch. 2Q14 1Q14 2Q13 QoQ YoY
---- ---- ----- ---- ---- ---- --- ---

Net Sales 8,767.2 6,344.1 38.2% 4,759.4 4,007.8 3,313.5 18.8% 43.6%

Adjusted EBITDA (1) 2,223.2 1,410.6 57.6% 1,193.1 1,030.1 713.1 15.8% 67.3%

Adjusted EBITDA Margin (2) 25.4% 22.2% 14.0% 25.1% 25.7% 21.5% (2.5%) 16.5%

Income / (Loss) for the period 307.7 198.8 54.8% 349.6 (41.9) 103.0 935.2% 239.6%

Attributable to:

Equity Shareholders 186.1 83.7 122.4% 217.6 (31.5) 48.4 791.4% 350.0%

Non-Controlling Interests 121.6 115.1 5.6% 132.0 (10.4) 54.6 1,371.4% 141.7%
(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.



Investor Relations Contacts

In Buenos Aires: In London: In New York:

Alfredo Marin Alex Money Melanie Carpenter

Agustin Medina Manson

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: investors@grupoclarin.com E-mail: alex@jasford.com E-mail: clarin@i-advize.com
SOURCE Grupo Clarin S.A.

Grupo Clarin S.A.


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