Last updated on April 18, 2014 at 15:50 EDT

Grupo Clarin announces its Results for the Nine Months (9M12) and Third Quarter of 2012 (3Q12)

November 19, 2012

BUENOS AIRES, Argentina, Nov. 19, 2012 /PRNewswire/ — Grupo Clarin S.A. (“Grupo Clarin” or the “Company” – LSE: GCLA; BCBA: GCLA), the largest media company in Argentina, announced today its nine months and third quarter results for 2012. Figures in this report have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as of September 30(th), 2012 and are stated in Argentine Pesos, unless otherwise indicated.

Highlights (9M12 vs. 9M11):

  • Net Sales totaled Ps. 8,142.0 million, an increase of 23.2% from 9M11, mainly due to ARPU and subscriber growth in the Cable TV and Internet access segment and, to a lesser extent, to higher sales in the Printing and Publishing segment.
  • Adjusted EBITDA( (1) )reached Ps. 2,039.3 million, an increase of 11.5% from 9M11, mainly driven by higher sales in the Cable and Internet access segment.
  • Grupo Clarin’s Adjusted EBITDA Margin((2)) for 9M12 was 25.0%, compared to 27.7% in 9M11.
  • Net Income totaled Ps. 556.5 million, a decrease of 15.9% from the Ps. 661.3 million reported in 9M11, and the Net Income attributable to Equity Shareholders amount to Ps 315.4 million from Ps. 433.9 million, a decrease of 27.3%.

    (In millions of Ps.)                                        9M12                      9M11                    % Ch.                    3Q12                      2Q12                      3Q11                     QoQ           YoY
                                                                ----                      ----                    -----                    ----                      ----                      ----                     ---           ---
    Net Sales                                                          8,142.0                   6,610.2                   23.2%                  2,930.2                   2,725.3                   2,377.4                    7.5%       23.2%
    Adjusted EBITDA (1)                                                2,039.3                   1,828.2                   11.5%                    711.8                     706.8                     595.6                    0.7%       19.5%
    Adjusted EBITDA Margin (2)                                            25.0%                     27.7%                 (9.4%)                     24.3%                     25.9%                     25.1%                 (6.3%)      (3.0%)
    Net Income                                                           556.5                     661.3                 (15.9%)                    156.3                     195.4                     172.6                 (20.0%)      (9.4%)
    Attributable to:
    Equity Shareholders                                                  315.4                     433.9                 (27.3%)                     89.1                     107.7                     117.2                 (17.3%)     (24.0%)
    Non-Controlling Interests                                            241.0                     227.4                    6.0%                     67.2                      87.7                      55.4                 (23.4%)       21.3%

    (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.
    (3) We define Net Income as Income for the period.
    Investor Relations Contacts
    In Buenos Aires:            In London:                         In New York:

    Alfredo Marin               Alex Money                         Melanie Carpenter
    Agustin Medina Manson       Clare Gallagher                    Pete Majeski

    Grupo Clarin S.A.           Temple Bar Advisory Ltd.           I-advize Corporate Communications
    Tel: +54 11 4309 7215       Tel: +44 20 7002 1080              Tel: +1 212 406 3692
     investors@grupoclarin.com  E-mail: info@templebaradvisory.com E-mail: clarin@i-advize.com

For a full version of this release, please visit www.grupoclarin.com/ir.

There will be a conference call to discuss these results:

Monday, November 19, 2012 at 10:00 am Eastern Time (12:00 pm Buenos Aires time).

Presentations by Alejandro Urricelqui, Chief Financial Officer, and Alfredo Marin, Investor Relations Officer, will be in English.

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.

The webcast presentation will be available at http://www.grupoclarin.com.ar/ir.

There will be a two week 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: 55980658. The webcast presentation will be archived at http://www.grupoclarin.com.ar/ir.

SOURCE Grupo Clarin S.A.

Source: PR Newswire