Central European Media Enterprises (CME) has posted encouraging results confirming, in the words of Micheal Del Nin, the company’s co-CEO, “the strong turnaround in our operations”.
Net revenues in Q3 amounted to $140,149,000 (€110,002,000), compared to $130,988 a year earlier. OIBDA stood at $2,937,000 (-$31,585,000), while the net loss was $52,582,000 ($23,273,000).
Over the first nine months of the year, net revenues were $496,256,000 ($437,214,000) and OIBDA $42,191,000 (-$44,339,000).
The net loss was reduced from $173,324,000 in 2013 to $153,621,000 this year.
Romania remained CME’s leading market in revenue terms, followed by the Czech Republic.
However, y-o-y revenues were down in Q3 in both Croatia and Slovenia. The Czech Republic came out in top spot in OIBDA in Q3,followed by Romania and Bulgaria.
Christoph Mainusch, the company’s other co-CEO, said: “The performance of our fall schedule demonstrates the strength of our brands and content, and positions us very well for the fourth quarter and as we head into negotiations for advertising spending commitments from clients for 2015.”
CME has broadcast interests in six Central and East European markets.