BUENOS AIRES, ARGENTINA / ACCESSWIRE / August 12, 2019 / Cablevisión Holding S.A., ("Cablevision Holding", "CVH" or "the Company" - BCBA: CVH; LSE: CVH; Level 1: CVHSY), controlling shareholder of Telecom Argentina S.A. (NYSE: TEO, BCBA: TECO2), announced today its first half and second quarter 2019 Results. Figures have been prepared in accordance with International Financial Reporting Standards ("IFRS") and are stated in constant Argentine Pesos ("Ps." or "P$") as of June 30, 2019, 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.
CVH Highlights (1H19 vs. 1H18):
- Total Revenues reached Ps. 94,756 million, a decrease of 11.5% in real terms as of June 30, 2019, compared to 1H18, mainly driven by lower mobile and cable services revenues.
- Total Costs (Excluding Depreciation and Amortization) reached Ps. 63,070 million, a decrease of 8.4% in constant currency, mainly driven by lower taxes and fees, commissions and advertising and cost of handsets sold.
- EBITDA reached Ps. 31,686 million, a decrease of 17.1% in real terms compared to 1H18, mainly driven by lower revenues. EBITDA Margin was 33.4% in 1H19, compared to 35.7% in 1H18.
- Consolidated Net Income amounted to Ps. 6,333 million. Consolidated Net Income attributable to the Controlling Company amounted to Ps. 2,173 million.
FINANCIAL HIGHLIGHTS
(millions of Ps.in constant Currency as of June 30, 2019) | 1H19 | 1H18 | % Ch. | 2Q19 | 1Q19 | 2Q18 | QoQ | YoY | ||||||||||||||||||||||||
Total Revenues | 94,756 | 107,078 | (11.5 | %) | 46,235 | 48,521 | 53,744 | (4.7 | %) | (14.0 | %) | |||||||||||||||||||||
EBITDA (1) | 31,686 | 38,222 | (17.1 | %) | 15,901 | 15,785 | 18,060 | 0.7 | % | (12.0 | %) | |||||||||||||||||||||
EBITDA Margin (2) | 33.4 | % | 35.7 | % | (2.3 | %) | 34.4 | % | 32.5 | % | 33.6 | % | 1.9 | % | 0.8 | % | ||||||||||||||||
Income for the period | 6,333 | (195 | ) | NA | 5,568 | 763 | (11,380 | ) | 629.5 | % | (148.9 | %) | ||||||||||||||||||||
Attributable to: | ||||||||||||||||||||||||||||||||
Equity Shareholders | 2,173 | (2,290 | ) | (194.9 | %) | 2,362 | (191 | ) | (5,776 | ) | NA | (140.9 | %) | |||||||||||||||||||
Non-Controlling Interests | 4,160 | 2,095 | 98.6 | % | 3,206 | 954 | (5,604 | ) | 236.1 | % | (157.2 | %) | ||||||||||||||||||||
(1) EBITDA is defined as Total Revenues minus operating cost and expenses (excluding depreciation and amortization). We believe that 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, 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 EBITDA in a different manner; therefore, EBITDA as reported by other companies may not be comparable to EBITDA as we report it.
(2) EBITDA Margin is defined as EBITDA over Total Revenues.
For a full version of this earnings release with financial statements, go to: https://www.cablevisionholding.com/Investors
Investor Relations Contacts:
In Buenos Aires:
Cablevisión Holding S.A
Agustín Medina Manson, Head of Investor Relations
Valentina Lopez, Sr. Analyst
Email: ir@cvh.com.ar
Tel: (+54 11) 4309 - 3417
www.cvh.com.ar
In New York
i-advize Corporate Communications
Camilla Ferreira / Kenia Vargas
Tel: +1 212 406 3695 / 3696
cferreira@i-advize.com
kvargas@i-advize.com
CONFERENCE CALL AND WEBCAST INFORMATION
CABLEVISIÓN HOLDING S.A
(BCBA: CVH / LSE: CVH)
cordially invites you to participate in its conference call and webcast presentation
to discuss Second Quarter 2019 Results
Date: Wednesday, August 14, 2019
Time: 12:00pm Buenos Aires Time/11:00am New York Time/4:00pm London
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: CVH
The 2Q19 results will be accompanied by a webcast presentation. To access the live stream and slide presentation, visit: https://services.choruscall.com/links/cvhsy190814A7RkOsIb.html
A replay of the conference call will be available four hours after its conclusion, and will remain available for 7 days. To access the replay, please dial from the within the U.S. 1-844-488-7474, or from anywhere outside the U.S. +1-862-902-0129. The passcode is: 16546518
The webcast presentation will be archived at: https://www.cablevisionholding.com/Investors/Presentations
CVH was funded as corporate spin-off from Grupo Clarín S.A. and it is the first Argentine holding company that engages in the development of infrastructure and the provision of convergent telecommunications services, focusing on Argentina and the region. CVH's subsidiaries specialize in the provision of cable TV, broadband and mobile communications services; and their brands are already well known in the telecommunications and content distribution industries.
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 CVH. 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. CVH 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 CVH's projections or forward-looking statements, including, among others, general economic conditions, CVH's competitive environment, risks associated with operating in Argentina a, rapid technological and market change, and other factors specifically related to CVH and its operations.
SOURCE: Cablevisión Holding S.A.
View source version on accesswire.com:
https://www.accesswire.com/555717/Cablevision-Holding-Announces-First-Half-and-Second-Quarter-2019-Results-1H19-and-2Q19
