Long Central European Media: Why Is Wall Street Ignoring The Company?
DPM Asset Management • 12 Comments
DPM Asset Management • 12 Comments
Mon, Feb. 22, 11:16 AM
- Central European Media (NASDAQ:CETV) has leapt 12.8% following Q4 results where, excluding currency effects, OIBDA gained 16% and revenues increased 3%.
- Income from continuing operations swung to a gain of $1.1M, vs. a prior-year loss of $17.8M.
- OIBDA increased 2% on a headline basis and 16.3% ex-currency, to $56.2M. OIBDA margin rose to 28.7% from the previous 25.5%.
- The company also announced a €469M refinancing via a term loan guaranteed by Time Warner. Part of the arrangement includes extending the maturity date of an existing €251M term loan by a year, meaning the company's nearest debt maturity arrives in November 2018.
Oct. 27, 2015, 10:45 AM
- Central European Media (NASDAQ:CETV) is 4.7% lower following Q3 results where it posted a narrower loss from the prior year, but currency issues hit revenues that fell more than 10%.
- Revenues were up 5% in constant rates. OIBDA was $8.4M, up from the prior $2.9M.
- TV ad revenues were up 8% at constant rates; the ad markets across the six-country footprint grew about 7% and the company increased its share in four of the six countries in the first nine months of 2015.
- In Q3 the company reversed charges taken in Q4 2014 and Q1 of this year related to tax audits in Romania.
- For the nine months, free cash flow increased $87.2M, to $52.9M total.
Jul. 29, 2015, 8:43 AM
- Central European Media (NASDAQ:CETV) is up 4.4% premarket after posting an $8.7M loss for Q2.
- Revenues slipped 13.5%, but grew 8% at constant rates, and the company showed "like-for-like growth in every one of our markets." At constant rates, OIBDA nearly doubled.
- Content costs were slashed for the first six months, to $144.7M from $180M. Operating income grew to $36.4M from a year-ago $22.7M.
- The company says it's taking steps to reduce its exchange-rate exposure, including pursuing any refinancing of dollar-denominated debt expiring in November with Euro-denominated debt.
- Conference call to come at 9 a.m. ET.
Jul. 29, 2015, 5:52 AM
- Central European Media (NASDAQ:CETV): Q2 EPS of -$0.11
- Revenue of $166.83M (-13.5% Y/Y)
- Shares +4.93% PM.
Apr. 29, 2015, 1:12 PM
- Central European Media (NASDAQ:CETV) is 2.6% lower after a first quarter that saw revenues drop 10% and operating losses increase to $17.2M.
- While content costs declined accordingly, selling, general and administrative expenses increased 44% to $43.9M, leading to the wider operating loss.
- OIBDA -- in which the firm excludes an $18.2M charge for an ongoing tax audit in Romania -- improved by $14.8M to $11.4M.
- Revenues by geography/segment: Bulgaria, $16.8M; Croatia, $11.99M; Czech Republic, $34.97M; Romania, $33.5M; Slovak Republic, $17.5M; Slovenia, $11.5M. Revenues in all geographies declined from the prior year.
- Free cash flow increased to $23.3M.
Oct. 30, 2014, 5:58 AM
- Central European Media (NASDAQ:CETV): Q3 EPS of -$0.38
- Revenue of $140.15M (+7.0% Y/Y)
- Shares +8.37% PM.
Jul. 30, 2014, 9:09 AM
Apr. 29, 2014, 9:12 AM
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Jan. 28, 2014, 5:43 PM
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Dec. 12, 2013, 5:34 PM
Nov. 4, 2013, 12:46 PM
Central European Media Enterprises Ltd. operates as a media and entertainment company. It operates through the following segments: Broadcast, Media Pro Entertainment and New Media. The Broadcast segment includes 36 television channels. The Media Pro Entertainment segment involves in production... More
Industry: Broadcasting - TV
Country: United States