Grupo Clarin announces its Results for the Fourth Quarter (4Q12) and Full Year
of 2012 (FY12)
BUENOS AIRES, Argentina, March 11, 2013
BUENOS AIRES, Argentina, March 11, 2013 /PRNewswire/ --Grupo Clarin S.A.
("Grupo Clarin" or the "Company" - LSE: GCLA; BCBA: GCLA), the largest media
company in Argentina, announced today its fourth quarter and full year results
for 2012. Figures in this report have been prepared in accordance with
International Financial Reporting Standards ("IFRS") as of December 31^st,
2012 and are stated in Argentine Pesos, unless otherwise indicated.
Highlights (FY12 vs. FY11):
oNet Sales totaled Ps. 11,318.9 million, an increase of 21.4% from 2011,
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. 2,772.7 million, an increase of 12.0%
from 2011, mainly driven by higher sales in the Cable and Internet access
oGrupo Clarin's Adjusted EBITDA Margin ^(2) for 2012 was 24.5%, compared to
26.5% in 2011.
oNet Income totaled Ps. 972.3 million; an increase of 23.8% from the Ps.
785.6 million reported in 2011, while Net Income attributable to Equity
Shareholders decreased 6.3% to Ps 482.3 million from Ps. 514.8 million
(In millions of 2012 2011 % Ch. 4Q12 3Q12 4Q11 QoQ YoY
Net Sales 11,318.9 9,325.2 21.4% 3,176.9 2,930.2 2,715.0 8.4% 17.0%
Adjusted EBITDA 2,772.7 2,475.6 12.0% 733.3 711.8 647.4 3.0% 13.3%
Adjusted EBITDA 24.5% 26.5% (7.7%) 23.1% 24.3% 23.8% (5.0%) (3.2%)
Net Income^(3) 972.3 785.6 23.8% 415.9 156.3 124.3 166.1% 234.6%
Equity 482.3 514.8 (6.3%) 166.9 89.1 80.9 87.3% 106.3%
Non-Controlling 490.0 270.9 80.9% 249.0 67.2 43.4 270.6% 473.3%
(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
(2) We define Adjusted EBITDA Margin as Adjusted EBITDA over Net Sales.
(3) We define Net Income as Income for the period.
Grupo Clarin will host a conference call and webcast to discuss Fourth Quarter
and Full Year 2012 Results, on Monday, March 11^th, 2013.
Time: 12:00 pm Buenos Aires Time/3:00 pm London Time/11:00 am New York Time.
To access the conference call, please dial: from within Argentina + 0 800 333
0050; from within the United Kingdom +44 (800) 092 3582; from within the
United States +1 (800) 311 9401; and from all other countries +1 (334) 323
7224. The Conference ID is #6118.
To access the simultaneous webcast presentation, please direct your browser
A replay of the conference call will be available one hour after its
conclusion, and will remain available for two weeks. To access the replay
please dial, from the within the U.S., +1-877-919-4059, or from anywhere
outside the U.S., +1-334-323-7226. The passcode is: 19716326.
The PDF version of the webcast presentation will be available at
http://www.grupoclarin.com.ar/ir prior to the call, on March 11^th, and
archived in our Website after its conclusion.
ABOUT THE COMPANY
Grupo Clarin is the largest media company in Argentina and a leading company
in the cable television and Internet access, printing and publishing, and
broadcasting and programming markets. Its cable television network is one of
the largest in Latin America in term of subscribers, and is a leading
broadband provider in Argentina. Its flagship newspaper –Diario Clarin– is one
of the highest circulation newspapers in Latin America. Grupo Clarin is the
largest producer of media content in Argentina, including news, sports and
entertainment and reaches substantially all segments of the Argentine
population in terms of wealth, geography and age.
Some of the information in this press release may contain projections or other
forward-looking statements regarding future events or the future financial
performance of Grupo Clarin. You can identify forward-looking statements by
terms such as "expect", "believe", "anticipate", "estimate", "intend", "will",
"could", "may" or "might" the negative of such terms or other similar
expressions. These statements are only predictions and actual events or
results may differ materially. Grupo Clarin does not intend to or undertake
any obligation to update these statements to reflect events and circumstances
occurring after the date hereof or to reflect the occurrence of unanticipated
events. Many factors could cause the actual results to differ materially from
those contained in Grupo Clarin's projections or forward-looking statements,
including, among others, general economic conditions, Grupo Clarin's
competitive environment, risks associated with operating in Argentina a, rapid
technological and market change, and other factors specifically related to
Grupo Clarin and its operations.
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:
firstname.lastname@example.org email@example.com firstname.lastname@example.org
SOURCE Grupo Clarin S.A.
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