Grupo Clarín announces its results for the first quarter of 2022

BUENOS AIRES, ARGENTINA / ACCESSWIRE / May 11, 2022 / Grupo Clarín SA (“Grupo Clarín” or the “Company” – (LSE:GCLA); (BCBA:GCLA), the largest media company in Argentina, today announced its first quarter 2022 results. this report has been prepared in accordance with International Financial Reporting Standards

(“IFRS”) as of March 31, 2022 and are expressed in Argentine pesos (“Ps”), unless otherwise indicated.

  • The Management of the Company has applied IAS 29 in the preparation of these financial statements (adjustment for inflation) because Resolution 777/18, issued by the Comisión Nacional de Valores (“CNV”), establishes that the restatement will be applied to the financial statements .

  • Highlights (1Q22 vs 1Q21): Total revenues reached Ps. 10,524.5 million, a decrease of 1.5% in real terms compared to 1Q21, mainly due to higher advertising revenues in the Broadcasting and Programming segment (partially offset by lower programming revenue) and lower circulation and print revenue from the Digital and Print Publications segment. Adjusted EBITDA

  • (1)reached Ps. 1,428.6 million, a decrease of 29.4% compared to 2,022.5 in 1Q21, mainly due to higher advertising revenues in broadcast and programming and cost reductions in real terms outweighed the decline in revenues in the digital and print publications segment. Grupo Clarín Adjusted EBITDA margin

  • (2)

was 13.6% in 1Q22, compared to 18.9% in 1Q21.

Profit for the period was Ps. 56.3 million, down 94.6% from a profit of Ps. 1,038.6 million reported in 1Q21. Net profit for the period attributable to shareholders was Ps. 53.9 million in 1Q22 following a loss of Ps. 1,056.1 million in 1Q21, a decrease of 94.9%.

FINANCIAL HIGHLIGHTS

(In millions of Ps.)

1Q22

1Q21

% Ch.

4Q21

QoQ

Total revenue

10,524.5

10,680.5

(1.5

%)

12,730.2

(17.3 %)

Adjusted EBITDA

(1)

1,428.6

2,022.5

(29.4

%)

1,280.2

11.6 %

Adjusted EBITDA margin

(2)

13.6

%

18.9

%

(28.3

%)

10.1

%

35.0

%

Profit/(Loss) for the period

56.3

1,038.6

(94.6

%)

(485.6

)

(111.6

%)

Attributable to:

Shareholders

53.9

1,056.1

(94.9

%)

(480.7

)

(111.2

%)

Non-majority interests

2.4

(17.6

)

(113.9

%)

(4.8

)

(150.3

(1) We define Adjusted EBITDA as total revenue less cost of sales (excluding depreciation) and selling and administrative expenses (excluding depreciation). We believe that Adjusted EBITDA is a meaningful measure of our performance. It is commonly used to analyze and compare media companies based on their operational performance, leverage and liquidity. Nevertheless, Adjusted EBITDA is not a measure of net profit or cash flow from operations and should not be considered an alternative to net profit, an indication of our financial performance, an alternative to cash flow from operating activities or a measure of liquidity. Other companies may calculate Adjusted EBITDA differently; therefore, Adjusted EBITDA as reported by other companies may not be comparable to Adjusted EBITDA as reported by us.The story continues

(2) We define Adjusted EBITDA margin as Adjusted EBITDA over total revenue

.

CONFERENCE CALL AND WEBCAST INFORMATION

GROUP CLARIN SA

(BCBA: GCLA; LSE: GCLA)

cordially invites you to participate in its Webcast presentation

to discuss its first quarter 2022 results

When: Monday, May 16, 2022

Time: 12:00 p.m. Buenos Aires time/4:00 p.m. London time/11:00 a.m. New York time

To access the live stream and slide presentation, visit: https://services.choruscall.com/links/gcla220516XYXa4JbB.html

The webcast presentation will also be available on
https://ir.grupoclarin.com

ABOUT THE COMPANY
Grupo Clarín is the largest media company in Argentina and a leading company in the digital and print publications and broadcast and programming markets. Its flagship newspaper -Diario Clarín- is one of the most widely circulated newspapers in Latin America. Grupo Clarín is the largest producer of media content in Argentina, including news, sports and entertainment and reaches virtually every segment of the Argentine population in terms of wealth, geography and age.

Warning
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Grupo Clarín. You can identify forward-looking statements by words such as “expect”, “believe”, “anticipate”, “estimate”, “intend”, “will”, “could”, “might” or “could” the negative of such terms or other similar expressions. These statements are only predictions and actual events, or actual results may differ materially. Grupo Clarín does not intend or undertake to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unforeseen events. Many factors could cause actual results to differ materially from those contained in Grupo Clarín’s projections or forward-looking statements, including, but not limited to, general economic conditions, Grupo Clarín’s competitive environment, risks associated with operating in Argentina, rapid technological and market changes, and other factors specifically related to Grupo Clarín and its operations.
Investor Relations Contacts:
In Buenos Aires:
Grupo Clarin SA
Samantha Olivieri

Tel: +54 11 4309 7104
Email: [email protected]
In London:
Jasford IR
money

Tel: +44 20 3289 5300
Email: [email protected]
At New York:
Fig Corporate Communications
Camilla Ferreira/Marcella Ewerton Tel: +1 917 691 4047

E-mail: [email protected]

THE SOURCE:
Grupo Clarin SA

View source version at accesswire.com: https://www.accesswire.com/701075/Grupo-Clarn-Announces-First-Quarter-2022-Results

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