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Central European Media Enterprises Reports Results For The Fourth Quarter And Full Year Ended December 31, 2010

Stocks in this article: CETV

OIBDA for the full year ended December 31, 2010 decreased to US$ 107.3 million from US$ 115.4 million in the full year ended December 31, 2009. OIBDA margin for the full year ended December 31, 2010 was 14.6% compared to 16.9% in the full year ended December 31, 2009.

Headline results for the full year ended December 31, 2010 and 2009 were:

   
  RESULTS
  For the Full Year Ended December 31, (US $000's)
  2010 2009 $ change % change
Net revenues $ 737,134 $ 681,945 $ 55,189 8.1%
OIBDA 107,323 115,374 (8,051) (7.0)%
Operating income / (loss) 22,877 (38,971) 61,848 158.7%
Net income / (loss) attributable to CME Ltd. 100,175   (97,157) 197,332 Nm 1
Fully diluted net income / (loss) per share $ 1.57 $ (1.79) $ 3.36 187.7%
 
1 Number is not meaningful.

Segment Results

We evaluate the performance of our operations based on Net Revenues and OIBDA. 

Our Net Revenues and Consolidated OIBDA for the three months ended December 31, 2010 and 2009 were:

   
  SEGMENT RESULTS
  For the Three Months Ended December 31, (US $000's)
  2010 2009 $ change % change
Broadcast  $ 241,172 $ 228,099 $ 13,073 5.7%
Media Pro Entertainment 47,929 42,271 5,658 13.4%
New Media 4,132 3,489 643 18.4%
Intersegment revenues (35,820) (39,436) 3,616 9.2%
Net Revenues $ 257,413 $ 234,423 $ 22,990 9.8%
           
Broadcast  $ 77,502  $ 57,574 $ 19,928 34.6%
Media Pro Entertainment 1,058 3,484 (2,426) (69.6)%
New Media (173) (2,341) 2,168 92.6%
Central (12,939) (13,975) 1,036 7.4%
Elimination (672) (333) (339) (101.8)%
Consolidated OIBDA  $ 64,776  $ 44,409 $ 20,367 45.9%

Our Net Revenues and Consolidated OIBDA for the full year ended December 31, 2010 and 2009 were:

   
  SEGMENT RESULTS
  For the Full Year Ended December 31, (US $000's)
  2010 2009 $ change % change
Broadcast  $ 690,727 $ 669,066 $ 21,661 3.2%
Media Pro Entertainment 140,797 107,683 33,114 30.8%
New Media 11,193 9,935 1,258 12.7%
Intersegment revenues (105,583) (104,739) (844) (0.8)%
Net Revenues $ 737,134 $ 681,945 $ 55,189 8.1%
           
Broadcast  $ 164,415  $ 154,971 $ 9,444 6.1%
Media Pro Entertainment (3,005) 7,538 (10,543) (139.9)%
New Media (6,542) (8,651) 2,109 24.4%
Central (44,062) (38,151) (5,911) (15.5)%
Elimination  (3,483) (333)  (3,150) Nm 1
Consolidated OIBDA  $ 107,323 $ 115,374 $ (8,051) (7.0)%
 
1 Number is not meaningful.

CME will host a teleconference and video webcast to discuss its fourth quarter and full year results on Wednesday, February 23, 2011 at 9:00 a.m. New York time (2:00 p.m. London time and 3:00 p.m. Prague time). The video webcast and teleconference will refer to presentation slides which will be available on CME's website at www.cetv-net.com prior to the call.

To access the teleconference, U.S. and international callers may dial +1 785-424-1051 ten minutes prior to the start time and reference passcode 7CETVQ4. The conference call will be video webcasted live via www.cetv-net.com .

The video webcast and a digital audio replay in MP3 format will be available for two weeks following the call at www.cetv-net.com .

Forward-Looking and Cautionary Statements

This press release contains forward-looking statements. For all forward-looking statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy or are otherwise beyond our control and some of which might not even be anticipated. Forward-looking statements reflect our current views with respect to future events and because our business is subject to such risks and uncertainties, actual results, our strategic plan, our financial position, results of operations and cash flows could differ materially from those described in or contemplated by the forward-looking statements.

For a more detailed description of these uncertainties and other factors, please see the "Risk Factors" section in CME's Annual Report on Form 10-K for the year ended December 31, 2010, which was filed with the Securities and Exchange Commission on February 23, 2011. We undertake no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise.

This press release should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2010, which was filed with the Securities and Exchange Commission on February 23, 2011. 

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