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CME looks to the future

February 24, 2010 08.59 Europe/London By Chris Dziadul

Results published by CME show 2009 to be by far the most difficult year for the company in its decade and a half’s activities in CEE’s TV industry.

Consolidated net revenues in Q4 fell by 14% year-on-year to $252.1 million (€185.7 million), while EBITDA decreased by 45% to $44.1 million. Consolidated net revenues for the full year were meanwhile down by 30% to $714 million and EBITDA fell by 73% to $74.9 million. The net loss in 2009 amounted to $97.2 million.

Commenting on the results, Adrian Sarbu, CME’s president and CEO, said: An unprecedented economic crisis in our region reset TV ad spending 30% below 2008. $800 million of TV ad spend vanished in one year, dramatically reducing our revenues. In this difficult environment we strengthened our operations by maintaining audience share leadership, increasing market share and redefining ourselves as a vertically integrated media company. We are making the necessary corrections to our portfolio to achieve positive EBITDA in all our operations in 2010.”

Rather than reporting on individual countries as it has done in the past, CME will from this year do so on the basis of three segments – broadcast, internet and content.

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Filed Under: Central & East Europe, Finance, Newsline Tagged With: CME Edited: 24 February 2010 09:02

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About Chris Dziadul

Chris is our Central & East Europe Editor. You can talk to Chris on Twitter @chrisdziadul or by email at cdziadul@broadbandtvnews.com

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