Grupo Clarín Announces Fourth Quarter and Full Year 2018 Results

BUENOS AIRES, ARGENTINA / ACCESSWIRE / March 11, 2019 / Grupo Clarín S.A. (”Grupo Clarín” or the ”Company” – LSE: GCLA; BCBA: GCLA), the largest media company in Argentina, announced today its fourth quarter and full year 2018 results. Figures in this report have been prepared in accordance with International Financial Reporting Standards (*) (”IFRS”) and are stated in constant Argentine Pesos as of December 31, 2018, 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 annual financial statements, for intermediate and special periods ended as of December 31, 2018 inclusive.

Highlights (FY18 vs.FY17):

    • Total Revenues reached Ps. 19,254.1 million, a decrease of 16.1% compared to 2017, mainly due to lower advertising revenues in the Broadcasting and Programming and the Printing and Publishing segments.
    • Adjusted EBITDA (1) reached Ps. 1,288.8 million, a decrease of 29.2% compared to 2017, mainly driven by a lower EBITDA in the Broadcasting and Programming segment.
    • Grupo Clarín’s Adjusted EBITDA Margin (2) was 6.7% in 2018, compared to 7.9% in 2017.
    • Income for the period 2018 totaled Ps. (882.4) million, a decrease of 141.7% compared to Ps. 2,113.8 million reported in 2017 (includes Cablevisión’s results). Income for the period attributable to Equity Shareholders amounted Ps (856) million in 2018 from Ps. 1,106.7 million in 2017, a 177.3% decline.

FINANCIAL HIGHLIGHTS

(In millions of Ps.)

2018

2017

% Ch.

Total Revenues

19,254.1

22,947.4

(16.1%)

Adjusted EBITDA (1)

1,288.8

1,819.5

(29.2%)

Adjusted EBITDA Margin (2)

6.7%

7.9%

(15.6%)

Income for the period

(882.4)

2,113.8

(141.7%)

Attributable to:

Equity Shareholders

(856.0)

1,106.7

(177.3%)

Non-Controlling Interests

(26.4)

1,007.1

(102.6%)

(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.

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 Fourth Quarter 2018 Results

Date: Thursday, March 14, 2019
Time: 12:00pm Buenos Aires Time/3:00pm 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 4Q18 results will be accompanied by a webcast presentation. Link for presentation only (slides with no audio); participants in the conference call via telephone:
https://webcasts.eqs.com/grupoclarin2019031417/no-audio

Link for conference call via webcast only (live stream of audio and slide presentation):
https://webcasts.eqs.com/register/grupoclarin2019031417

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: 71445825

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 associated with operating in Argentina a, rapid technological and market change, and other factors specifically related to Grupo Clarín and its operations.

Contact:

Investor Relations Contacts:
Agustín Medina Manson
Grupo Clarín S.A.
Tel: +54 11 4309 7215
Email: [email protected]

In London:
Alex Money
Jasford IR
Tel: +44 20 3289 5300
E-mail: [email protected]

In New York:

Melanie Carpenter
I-advize Corporate Communications
Tel: +1 212 406 3692
E-mail: [email protected]

SOURCE: Grupo Clarín S.A.

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