PRO TV, the Romanian subsidiary of the Central European Media Enterprises (CME) group, saw its net revenues declining by 15.6% year-on-year to USD 38.8 million while its operating profit before depreciation and amortization (OIBDA) decreased by 7.2% year-on-year to USD 17.5 million in the first quarter of this year, according to unaudited financial results.
In like-for-like terms, namely after filtering out the impact of the USD/RON exchange rate, revenues declined by only 7.2% while OIBDA edged up marginally by 1.7%.
Irrespective of the methodology, however, the Romanian division’s performance was lower than that of the group. CME’s net revenues declined by 6.5% year-on-year to USD 146.5 million, while its OIBDA increased by 7.7% to USD 38 million.
The results for Romania include local TV stations PRO TV, PRO 2, PRO X, PRO GOLD, PRO CINEMA, PRO TV International, and PRO TV Chisinau. In terms of revenues, the Romanian division accounts for nearly 27% of the group’s total (second largest operation after Czech Republic) and in terms of OIBDA it accounts for nearly 39% of the total.
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