Grupo Clarin announces its Results for the First Quarter 2015 (1Q15)

Grupo Clarin announces its Results for the First Quarter 2015 (1Q15)

BUENOS AIRES, Argentina, May 12, 2015 /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 2015. Figures in this report have been prepared in accordance with International Financial Reporting Standards ("IFRS") as of March 31st, 2015 and are stated in Argentine Pesos, unless otherwise indicated.

Highlights (1Q15 vs. 1Q14):


-- Net Sales totaled Ps. 5,964.3 million, an increase of 48.8% from 1Q14,
mainly due to ARPU and subscriber growth in the Cable TV and Internet
access segment and, to a lesser extent, to higher circulation sales in
the Printing and Publishing, and advertising sales in Broadcasting and
Programming segments.
-- Adjusted EBITDA( (1) )reached Ps. 1,931.0 million, an increase of 87.4%
from 1Q14 mainly driven by higher sales and margin expansion in the
Cable TV and Internet access.
-- Grupo Clarin's Adjusted EBITDA Margin ((2)) for 1Q15 was 32.4%, compared
to 25.7% in 1Q14.
-- Income for the period increase to Ps. 800.3 million from the Ps. (41.9)
million reported in 1Q14, and the Income for the period attributable to
Equity Shareholders amount to Ps 469.2 million from Ps. (31.5) million.
FINANCIAL HIGHLIGHTS




(In millions
of Ps.) 1Q15 1Q14 % Ch. 4Q14 QoQ
---- ---- ----- ---- ---

Net Sales 5,964.3 4,007.8 48.8% 5,707.1 4.5%

Adjusted
EBITDA (1) 1,931.0 1,030.1 87.4% 1,465.4 31.8%

Adjusted
EBITDA Margin
(2) 32.4% 25.7% 26.0% 25.7% 26.1%

Income for the
period 800.3 (41.9) - 584.9 36.8%

Attributable
to:

Equity
Shareholders 469.2 (31.5) - 357.2 31.4%

Non-
Controlling
Interests 331.1 (10.4) - 227.7 45.4%
(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 Jasford IR


Grupo Clarin S.A. 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

Grupo Clarin


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