Central European Media Enterprises (CME) has posted total net revenues of $257,413,000 (€242,967,000) for Q4 2010, up from $234,423,000 a year earlier.
OIBDA for the period was also up ($64,776,000 v $44,409,000), while the loss from continuing operations ($25,442,000) was only around half ($50,280,000) of that a year earlier.
However, for the year as a whole, the loss amounted to $116,924,000, compared to $70,983,000 in 2009.
Falling revenues were a feature in four of CME’s six markets in the region including the Czech Republic and Romania, the two most lucrative. OIBDA also fell year-on-year, with one market – Slovakia – reaching negative territory (-$1,001,000).
Commenting on the results, Adrian Sarbu, president and CEO of CME, said: “In the fourth quarter our sales and OIBDA increased as a result of the restructuring of our broadcasting business and the start of recovery in certain markets. 2010 was our first year of operating as a fully vertically integrated media company. We now run six leading broadcast operations, an integrated content division, Media Pro Entertainment, and a rapidly growing New Media segment. In 2011 we expect all our markets to recover. Our priority is to deliver growth in revenues, OIBDA and free cash flow.”
