BUENOS AIRES, ARGENTINA / ACCESSWIRE / September 8, 2020 / Grupo Clarín S.A. ("Grupo Clarín" or the "Company" (LSE:GCLA)(BCBA:GCLA), the largest media company in Argentina, announced today its first half and second quarter 2020 results. Figures in this report have been prepared in accordance with International Financial Reporting Standards (*) ("IFRS") as of June 30, 2020 and are stated in Argentine Pesos ("Ps"), 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 financial statements.
Highlights (1H20 vs.1H19):
- Total Revenues reached Ps. 10,232.9 million, a decrease of 28.6% compared to 1H19, mainly due to lower advertising revenues in all segments and lower circulation in the Printing and Publishing segment.
- Adjusted EBITDA (1) reached Ps. 484.8 million, a decrease of 55.1% compared to 1H19, mainly driven by lower results in the Broadcasting and Programming segment.
- Grupo Clarín's Adjusted EBITDA Margin (2) was 4.7% in June 2020, compared to 7.5% in 1H19.
- Loss for the period totaled Ps. 377.6 million, compared to Ps. 329.8 million loss reported in 1H19. Loss for the period attributable to Equity Shareholders amounted Ps 230.1 million in 1H20.
FINANCIAL HIGHLIGHTS
(In millions of Ps.) | 1H20 | 1H19 | % Ch. | 2Q20 | 1Q20 | 2Q19 | QoQ | YoY | ||||||||||||||||||||||||
Total Revenues | 10,232.9 | 14,338.0 | (28.6 | %) | 4,841.9 | 5,391.0 | 7,914.9 | (10.2 | %) | (38.8 | %) | |||||||||||||||||||||
Adjusted EBITDA (1) | 484.8 | 1,078.7 | (55.1 | %) | 622.0 | (137.2 | ) | 701.3 | 553.4 | % | (11.3 | %) | ||||||||||||||||||||
Adjusted EBITDA Margin (2) | 4.7 | % | 7.5 | % | (37.0 | %) | 12.8 | % | (2.5 | %) | 8.9 | % | 604.8 | % | 45.0 | % | ||||||||||||||||
Income for the period | (377.6 | ) | (329.8 | ) | 14.5 | % | 283.9 | (661.5 | ) | 117.2 | (142.9 | %) | 142.3 | % | ||||||||||||||||||
Attributable to: | ||||||||||||||||||||||||||||||||
Equity Shareholders | (230.1 | ) | (248.4 | ) | (7.4 | %) | 327.6 | (557.7 | ) | 97.2 | (158.7 | %) | 237.0 | % | ||||||||||||||||||
Non-Controlling Interests | (147.5 | ) | (81.3 | ) | 81.4 | % | (43.8 | ) | (103.7 | ) | 19.9 | (57.8 | %) | 319.4 | % | |||||||||||||||||
(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.
For a full version of this earnings release with financial statements, go to: https://grupoclarin.com/IR/
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 Second Quarter 2020 Results
Date: Wednesday, September 9, 2020
Time: 12:00pm Buenos Aires Time/4:00pm 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 2Q20 results will be accompanied by a webcast presentation. To access the live stream and slide presentation, visit: https://services.choruscall.com/links/gcla200909L6DLNNO3.html
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: 67412548
The webcast presentation will be archived at http://www.grupoclarin.com/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.
Investor Relations Contacts | ||
In Buenos Aires: | In London: | In New York: |
Agustín Medina Manson | Alex Money | Melanie Carpenter |
Grupo Clarín 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 Clarín S.A.
View source version on accesswire.com:
https://www.accesswire.com/605098/Grupo-Clarn-Announces-First-Half-and-Second-Quarter-2020-Results
