Central European Media Enterprises (CME) has posted net revenues of $126,133,000 for the first quarter, compared to $140,705,000 in the same period last year.
OIBDA amounted to $11,448,000 (-$3,395,000) and loss from continuing operations $73,531,000 ($45,633,000).
Net revenues in the company’s leading markets both fell over the period – from $39,033,000 to $34,965,000 in the case of the Czech Republic and $36,857,000 to $33,522,000 in Romania.
Meanwhile, OIBDA increased significantly in the Czech Republic– from $2,713,000 to $10,091,000 – but fell slightly in Romania, from $4,326,000 to $3,361,000).
Commenting on the results, Michael Del Nin, co-CEO, said: “The results for this quarter demonstrate that the momentum that we built during last year has continued into 2015. We are particularly pleased with the breadth of the operating improvement, which was apparent across a number of our markets and has delivered a meaningful increase in OIBDA over last year despite the significant strengthening of the dollar.”
Christoph Mainusch, co-CEO, added: “We have maintained our audience share leadership while controlling overall costs. We intend to continue leveraging popular local content to maximize the reach we provide in excess of our commercial competitors, which should further improve our television advertising revenues when sustained economic growth resumes in the countries in which we operate.”