CTC Media ups sales revenues 12% to $264 mln in Q4
MOSCOW. March 6 (Interfax) - CTC Media made sales revenues to US GAAP of $264.2 million in the last quarter of 2012, a 12% year-on-year increase, the company reported.
Sales revenues were up 5% at $805 million for last year as a whole.
Adjusted operating income before depreciation and amortization (OIBDA) increased 12% to $103.8 million, while the margin edged up to 39.3% from 39.2% a year earlier.
At the end of the year, adjusted OIBDA was up 4% at $256.4 million, but the OIBDA margin was lower at 31.9% (32.2% in 2011).
CTC Media's Q4 net profits amounted to $64.8 million versus losses incurred due to asset revaluation of $24.5 million in Q4 2011. The company made $93.06 million in net profits for the year as a whole, 75% more than in 2011.
These figures are better than analysts surveyed for a consensus forecast by Interfax had predicted. They reckoned CTC Media's Q4 sales revenues at $254.9 million (up 7.5%). According to the Association of Communications Agencies of Russia, the Russian television advertising market expanded 9% in Q4 - the same amount as CTC Media's ruble advertising revenue.
OIBDA and net profits were also both better than forecast. The analysts anticipated OIBDA of $95.1 million, an OIBDA margin of 37.3%, and net profits of $58.9 million.
The holding's net cash position was $173.4 million at the end of 2012.
CTC Media manages the Russian television channels CTC, Domashny, and Peretz. The holding has media assets in Kazakhstan and Moldova, and a producing company.
CTC Media's biggest shareholder is Sweden's media holding Modern Times Group with 37.9% and a blocking stake is held by Cyprus-based Telcrest Investments, Ltd., which belongs to National Media Group, the bank Rossiya, and Surgutneftegas . CTC Media trades on the Nasdaq.
