Central European Media Enterprises’ Net Profit Hit $100.1M In 2010

The company expects its revenues, OIBDA and free cash flow will increase in 2011.

CME's net revenues rose 8.1% last year, to $737.1 million, from $681.9 million in 2009. Its operating income hit $22.8 million in 2010, after losses amounting to $38.9 million in the previous year.

The company's operating income before depreciation and amortization (OIBDA) was down 7%, to $107.3 million, from $115.3 million.

In the fourth quarter of 2010, CME's net revenue increased by 9.8%, to $ 257.4 million, from $234.4 million in the same interval in 2009.

The company reduced its net losses by 52.7% in the before mentioned interval, to $26.1 million from $55.2 million.

"In the fourth quarter our sales and OIBDA increased as a result of the restructuring of our broadcasting business and the start of recovery in certain markets. 2010 was our first year of operating as a fully vertically integrated media company. We now run six leading broadcast operations, an integrated content division, Media Pro Entertainment, and a rapidly growing New Media segment. In 2011 we expect all our markets to recover. Our priority is to deliver growth in revenues, OIBDA and free cash flow," CME president and CEO Adrian Sarbu said in a press release.

CME's operating income increased by 72.5% in the fourth quarter of 2010, to $41.9 million from $24.2 million. OIBDA increased by 45.9%, to $64.7 million from $44.4 million.

Revenues on the broadcast segment amounted to$ 690.7 million last year, up 3.2% compared to 2009. OIBDA increased by 6.1%, to $164.4 million from $154.9 million.

Media Pro Entertainment's sales hit $140.8 million in 2010, up 30.8% compared to 2009, when sales stood at $107.6 million.

On the new media segment, the company's revenues increased by 12.7%, to $11.2 million from $9.9 million.

In Romania, CME registered broadcast revenues amounting to $157.4 million last year. In 2009, revenues on this segment hit $175.4 million. OIBDA dropped to $26 million, from $39.9 million.

CME owns television stations in Bulgaria (bTV, bTV Cinema, bTV Comedy, bTV Action and Ring.bg), Croatia (Nova TV and Doma), the Czech Republic (TV Nova, Nova Cinema, Nova Sport and MTV Czech), Romania (PRO TV, PRO TV International, Acasa, Pro Cinema, Sport.ro and MTV Romania), Slovakia (TV Markiza and Doma) and Slovenia (POP TV, Kanal A and POP Brio).

CME is listed on NASDAQ, in New York, and the Prague Stock Exchange.

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