Pro TV reported, for the 3rd trimester of the year, revenues of $29M, down from $35.8M in the same period of last year. This decrease is mainly due to the decrease of the local advertising market, that degraded because of the economical crisis.
The operational income also decreased for Pro TV in the 3rd trimester, to $4.3M, from $9.79M in the same period of last year.
For the past 9 months of the year, Pro TV reported revenues of $109.75M, down from $119.9M last year.
The financial results of Pro TV are published in a CME report regarding the entire’s group financial situation after the first 9 months of the year.
According to CME’s report, available on company’s site, the turnover for the mentioned period was of $479M, from $447M. The 2nd trimester brought to the company revenues of $134M, up from $128M in the same period of last year
“Our strategy to reposition CME as a vertically integrated media company is working. Our results today are stronger than a year ago. The recent refinancing has improved our liquidity position and we have started to repurchase debt opportunistically. The audience leadership and high operating leverage which we built, together with our strong liquidity, will enable us to further reduce gross debt and interest cost as our markets are expected to improve next year. With recovery continuing in the Czech Republic, Slovenia and Croatia in Q4, we are on track to deliver full year OIBDA guidance of $100 – 115 million.”Adrian Sarbu, President and Chief Executive Officer of CME, commented.
CME is a vertically integrated media and entertainment company operating leading broadcasting, internet and TV content businesses in six Central and Eastern European countries with an aggregate population of approximately 50 million people. CME’s television stations are located in Bulgaria (bTV, bTV Cinema, bTV Comedy, Pro.bg and Ring.bg), Croatia (Nova TV), Czech Republic (TV Nova, Nova Cinema, Nova Sport and MTV Czech), Romania (PRO TV, PRO TV International, Acasa, PRO Cinema, Sport.ro and MTV Romania), Slovakia (TV Markíza and Doma) and Slovenia (POP TV, Kanal A and POP Brio). CME is traded on the NASDAQ and the Prague Stock Exchange under the ticker symbol “CETV”.