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CTC Media Financial Results For The Second Quarter And Six Months Ended June 30, 2013

MOSCOW, Aug. 6, 2013 (GLOBE NEWSWIRE) -- CTC Media, Inc. ("CTC Media" or "the Company") (Nasdaq:CTCM), Russia's leading independent media company, today announced its unaudited consolidated financial results for the second quarter and six months ended June 30, 2013.
  Three Months  
  Ended June 30,  Change 
(US$ mln except per share data) 2012 2013 in USD in RUB
         
Total operating revenues $187,584 $206,015 10% 13%
Total operating expenses (138,462) (156,620) 13% 16%
OIBDA 1 54,105 57,753 7% 9%
OIBDA margin 1 28.8% 28.0%    
Net income attributable to CTC Media, Inc. stockholders 34,046 31,593 -7% -4%
Diluted earnings per share  $0.22 $0.20 -9%  
         
  Six Months  
  Ended June 30,    Change
(US$ mln except per share data) 2012 2013 in USD in RUB
         
Total operating revenues $378,704 $401,302 6% 8%
Total operating expenses (279,611) (309,723) 11% 13%
OIBDA 1 109,233 108,402 -1% --
OIBDA margin 1 28.8% 27.0%    
Net income attributable to CTC Media, Inc. stockholders 66,668 60,181 -10% -7%
Diluted earnings per share  $0.42 $0.38 -10%  

Q2 FINANCIAL HIGHLIGHTS
  • Total revenues up 13% year-on-year in ruble terms to $206.0 million
  • OIBDA of $57.8 million, with an OIBDA margin of 28.0%
  • Fully diluted earnings per share of $0.20 (Q2 2012: $0.22)
  • Net cash position 2 of $142.4 million at the end of the period
  • Payment of cash dividends of $0.16 per share
  • Board of Directors currently intends to pay aggregate cash dividends of approximately $0.63 per share in 2013 and has declared a cash dividend of $0.16 per share (or approximately $25 million in the aggregate) to be paid on or about September 27, 2013 to shareholders of record as of September 2, 2013, with further dividends anticipated in the fourth quarter of 2013

OPERATING HIGHLIGHTS
  • Appointment of Yuliana Slashcheva as Chief Executive Officer as of August 1
  • Combined Russian national inventory was fully sold-out for Q2 and is approximately 95% committed for the full year
  • CTC Media repurchased 1.98 million shares of common stock as of July 31, 2013 as part of the previously announced 2.5 million share repurchase program for use under the Company's 2013 Equity Incentive Plan
  • Launch of an innovative touch-free motion activated cooking app under the Domashny brand

Yuliana Slashcheva, Chief Executive Officer of CTC Media, commented, "I am delighted to be joining CTC Media at this dynamic time for the TV business. The CTC Media team delivered a strong second quarter, with the Russian channels posting year-on-year audience share growth both in prime time and off prime, maintaining the second place among television holdings in the target demographic of everyone aged between 10 and 45.

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