Grupo Clarin Announces its Results for the Nine Months (9M11) and Third Quarter of 2011 (3Q11)

Grupo Clarin Announces its Results for the Nine Months (9M11) and Third Quarter of 2011 (3Q11)

BUENOS AIRES, Argentina, Nov. 11, 2011 /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 2011. Figures in this report have been prepared in accordance with Argentine GAAP as of September 30th, 2011 and are stated in Argentine Pesos, unless otherwise indicated.

Highlights (9M11 vs. 9M10):

-- Net Sales totaled Ps. 6,915.4 million, an increase of 25.7% from 9M10,
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 and Printing and Publishing segments.
-- Adjusted EBITDA (1) reached Ps. 1,942.4 million, an increase of 11.1%
from 9M10, mainly driven by higher sales in the Cable and Internet
access segment.
-- Grupo Clarin's Adjusted EBITDA Margin(2) for 9M11 was 28.1%, compared to
31.8% in 9M10.
-- Net Income totaled Ps. 438.4 million, an increase of 15.0% from the Ps.
381.1 million reported in 9M10.

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

(In millions of
Ps.) 9M11 9M10 % Ch. 3Q11 2Q11 3Q10 QoQ YoY
---- ---- ----- ---- ---- ---- --- ---
Net Sales 6,915.4 5,502.1 25.7% 2,484.6 2,357.4 1,986.0 5.4% 25.1%
Adjusted EBITDA
(1) 1,942.4 1,748.9 11.1% 632.2 689.7 595.9 (8.3%) 6.1%
Adjusted EBITDA
Margin (2) 28.1% 31.8% (11.6%) 25.4% 29.3% 30.0% (13.0%) (15.2%)
Net Income 438.4 381.1 15.0% 123.0 163.8 134.0 (24.9%) (8.2%)
--------------- ---- ---- ---- ---- ---- ---- ------- ------

(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 Friday, November 11, 2011 at 10:00 am Eastern Time (12:00 pm Buenos Aires time) to discuss its results for the third quarter ended September 30, 2011.

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 (877) 919-4059 toll free from the U.S., or 1 (334) 323-7226 from anywhere outside the U.S. The replay passcode is: 65206380. 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 one of the 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:

Investor
Relations
Contacts
In Buenos
Aires: In London: In New York
Grupo Clarin i-advize Corporate
S.A. Temple Bar Advisory Communications
Alfredo Marin /
Agustin Medina Melanie Carpenter/Pete
Manson Alex Money/Lorna Ellen Majeski
Tel: +54 11
4309 7215 Tel: +44 20 7002 1080 Tel: +1 212 406 3692
Email: E-mail: Email: clarin@i-
investors@grupoclarin.com clarin@templebaradvisory.com advize.com

SOURCE Grupo Clarin S.A.

Grupo Clarin S.A.

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

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