30-07-2015

CME Revenues Rise in Quarter Two

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    PRAGUE: Central European Media Enterprises (CME) reported an 8 percent increase in net revenues for the second quarter ended 30 June 2015, at 166.8m USD.

    TV advertising revenues for the period rose by 9 percent and OIBDA jumped 44 percent, to 46.8m USD.

    The same percentage results in net revenues and TV advertising held for the sixth month period, while OIBDA showed even stronger improvement of 99 percent growth. 

    Michael Del Nin, Co-Chief Executive Officer, said in a statement: "The results for this quarter exceeded our expectations and reflect the sustained and broad-based strengthening of our operations."

    Christoph Mainusch, Co-Chief Executive Officer, said in a statement: "Our programs topped the charts during the spring season and we increased our audience share in five out of six countries while reducing content costs. The combination of revenue growth and lower costs resulted in a significant improvement in our OIBDA margin in the first half of 2015, and we expect that trend to continue for the full year."

    CME stock rose slightly during the course of the day, closing up 0.16 percent at 2.19 USD.