Mediafax (Mediafax)
Czech markets  |  August 01, 2012 09:50:11

CME reported second quarter net income this year amounting to $ 211.2 million

HAMILTON (MEDIAFAX) - Central European Media Enterprises (CME) reported a second quarter net income this year, amounting to $ 211.2 million (4.34 billion dollars). The company informed about the center with the fact that its operating profits before depreciation and amortization totaled $ 47.1 million (969 million).

Operating income for the quarter was $ 23.7 million (487.27 million dollars) compared to $ 39.5 million for the same period last year (812.12 million dollars). Net profit attributable to shareholders of CME for the quarter increased from one to four million U.S. dollars (82.24 million dollars).

"In early July we completed the transaction with our largest shareholder, Time Warner and Ronald Lauder, thanks to which we have reduced our debt load of $ 185 million.Despite a decline in advertising spending in the first half of the remaining seven percent of our revenues in constant currency the same year, thanks to growth in the segments for the Media Entertainment and new media, where Voyo occupied a leading position in the subscription video service, "said president and CEO of CME Adrian Sarbu.

In his words, the CME in the second half continue to focus on debt reduction, maintaining leadership in audience and market share, to develop non-promotional revenue and to achieve positive free cash flow.

Net income for the six months ending on 30 June 2012 amounted to $ 378.7 million (7.79 billion dollars), compared with $ 422.4 million (8.68 billion dollars) in the same period in 2011. Operating profit before depreciation and amortization amounted to a six-month period ending on 30June this year, $ 61.2 million (1.26 billion).

"Overall, the results slightly negative. Investors should also carefully monitor the expression of the expected management to the development of advertising markets and the company in 2012 or any plans for further debt relief," said CME released the results Tomčány Thomas, an analyst at Patria Finance.

Central European Media Enterprises (CME) is a Bermuda company founded by Ronald Lauder in 1994. The company operates a leading television stations, Internet companies and companies involved in television production in Central and Eastern Europe. The company is listed on NASDAQ and the Prague Stock Exchange under the ticker symbol CME.

Jan Soukup,

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Společnost CME vykázala za druhé letošní čtvrtletí čisté výnosy v objemu 211,2 milionu dolarů

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