Romania, the Czech Republic and Slovenia were the strongest performers for Central European Media Enterprises (CME) in the third quarter.
Net revenues in Romania, at $36,970,000, were 15.5% up (16.6% on a like-for-like basis) on a year earlier. The corresponding figures for Slovenia and Czech Republic were $9,555,000 (+11%, +11.2%) and $39,970,000 (+9.7%, +9.7%) respectively.
The company’s total net revenues in its six CEE markets in Q3 were $126,706,000 (+8%, 8,2%, while OIBDA was $18,014,000 (+115.7%, +120.7%).
Commenting on the results, Michael del Nin, co-CEO, said: “These results are, on a relative basis, arguably the best we have seen all year. Due to the combination of robust revenue growth and effective cost control, we’ve more than doubled OIBDA in the quarter compared to the same period in 2015. We believe these results keep us well on track to deliver another full year of excellent financial performance.”
Christoph Mainusch, ceo-CEO, added: “Our results today reflect not just an improvement in profitability, but also better engagement with our audiences as the gap between us and our closest commercial competitor widened in five out of six markets during the third quarter. We believe we continue to provide the most efficient medium for advertisers to reach consumers in all countries in which we operate.”
