Grupo Clarin announces its Results for the Nine Months (9M12) and Third Quarter of 2012 (3Q12)

   Grupo Clarin announces its Results for the Nine Months (9M12) and Third
                            Quarter of 2012 (3Q12)

PR Newswire

BUENOS AIRES, Argentina, Nov. 19, 2012

BUENOS AIRES, Argentina, Nov. 19, 2012 /PRNewswire/ --Grupo Clarin S.A.
("Grupo Clarin" or the "Company" - LSE: GCLA; BCBA: GCLA), the largest media
company in Argentina, announced today its nine months and third quarter
results for 2012. Figures in this report have been prepared in accordance with
International Financial Reporting Standards ("IFRS") as of September 30^th,
2012 and are stated in Argentine Pesos, unless otherwise indicated.

Highlights (9M12 vs. 9M11):

  oNet Sales totaled Ps. 8,142.0 million, an increase of 23.2% from 9M11,
    mainly due to ARPU and subscriber growth in the Cable TV and Internet
    access segment and, to a lesser extent, to higher sales in the Printing
    and Publishing segment.
  oAdjusted EBITDA ^ (1) reached Ps. 2,039.3 million, an increase of 11.5%
    from 9M11, mainly driven by higher sales in the Cable and Internet access
  oGrupo Clarin's Adjusted EBITDA Margin^(2) for 9M12 was 25.0%, compared to
    27.7% in 9M11.
  oNet Income totaled Ps. 556.5 million, a decrease of 15.9% from the Ps.
    661.3 million reported in 9M11, and the Net Income attributable to Equity
    Shareholders amount to Ps 315.4 million from Ps. 433.9 million, a decrease
    of 27.3%.

(In millions of 9M12    9M11    % Ch.   3Q12    2Q12    3Q11    QoQ     YoY
Net Sales       8,142.0 6,610.2 23.2%   2,930.2 2,725.3 2,377.4 7.5%    23.2%
Adjusted EBITDA 2,039.3 1,828.2 11.5%   711.8   706.8   595.6   0.7%    19.5%
Adjusted EBITDA 25.0%   27.7%   (9.4%)  24.3%   25.9%   25.1%   (6.3%)  (3.0%)
Margin ^(2)
Net Income      556.5   661.3   (15.9%) 156.3   195.4   172.6   (20.0%) (9.4%)
Equity          315.4   433.9   (27.3%) 89.1    107.7   117.2   (17.3%) (24.0%)
Non-Controlling 241.0   227.4   6.0%    67.2    87.7    55.4    (23.4%) 21.3%

(1) We define Adjusted EBITDA as net sales minus cost of sales (excluding
depreciation and amortization) and selling and administrative expenses
(excluding depreciation and amortization). We believe that Adjusted EBITDA is a
meaningful measure of our performance. It is commonly used to analyze and
compare media companies on the basis of operating performance, leverage and
liquidity. Nonetheless, Adjusted EBITDA is not a measure of net income or cash
flow from operations and should not be considered as an alternative to net
income, an indication of our financial performance, an alternative to cash flow
from operating activities or a measure of liquidity. Other companies may
compute Adjusted EBITDA in a different manner; therefore, Adjusted EBITDA as
reported by other companies may not be comparable to Adjusted EBITDA as we
report it.

(2) We define Adjusted EBITDA Margin as Adjusted EBITDA over Net Sales.

(3) We define Net Income as Income for the period.

Investor Relations Contacts
In Buenos Aires:            In London:                    In New York:
Alfredo Marin               Alex Money                    Melanie Carpenter

Agustin Medina Manson       Clare Gallagher               Pete Majeski
Grupo Clarin S.A.           Temple Bar Advisory Ltd.      I-advize Corporate
Tel: +54 11 4309 7215       Tel: +44 20 7002 1080         Tel: +1 212 406 3692
Email:                      E-mail:                       E-mail:

For a full version of this release, please visit

There will be a conference call to discuss these results:

Monday, November 19, 2012 at 10:00 am Eastern Time (12:00 pm Buenos Aires

Presentations by Alejandro Urricelqui, Chief Financial Officer, and Alfredo
Marin, Investor Relations Officer, will be in English.

Those interested in connecting via conference call are invited to please dial
(0800) 092-3582 toll free from the U.K., 1 (800) 311-9401 toll free from the
U.S., (0800) 333-0050 from Argentina, or 1 (334) 323-7224 from elsewhere 5-10
minutes prior to the start time. The Conference ID is 6118.

The webcast presentation will be available at

There will be a two week replay available starting one hour after the
conclusion of the conference call. To access the replay, please dial 1 (877)
919-4059 toll free from the U.S., or1 (334) 323-7226 from anywhere outside
the U.S. The replay passcode is: 55980658. The webcast presentation will be
archived at

SOURCE Grupo Clarin S.A.

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