Central European Media Enterprises (CME) met its targets in 2011 thanks to increases in ad revenues, as well as in content and digital distribution, in the six CEE markets it operates in.
Net revenues in the year amounted to $864,782,000 (€652,971,000) or 17.3% more than a year earlier, while OIBDA rose by 55.6% to $167,002,000.
Its net loss, however, rose by 53.6% to $179,604,000.
Within the broadcast sector, revenue growth was particularly strong in Bulgaria, rising to $93,732,000 ($61,735,000) in 2011.
The Czech Republic remained the largest market, with revenues of $285,865,000 ($265,018,000).
Commenting on the results, Adrian Sarbu, CME president and CEO, said that the strong performance followed the successful implementation of the company’s new business model: One Content, Multiple Distribution.
He added that, “in 2012, we will focus on deleveraging, strengthening our leadership and fuelling new revenue engines.”