Central European Media Enterprises (CME), one of the biggest media groups in the region, reported a 2.3% like-for-like (lfl) increase in net revenues in Romania in the second quarter of 2017 to USD 48.5 million.

In the first quarter of the year, the group, which runs several big TV stations in Romania, had posted a 25% lfl increase in revenues for the local operations, to USD 38.9 million.

The operational profit before amortization and depreciation (OBIDA) in Romania stood at USD 22.2 million for the same period, a 0.3% lfl increase.

The results keep Romania as the second largest market of the group, after the Czech Republic, where net revenues for the quarter ending June 30 stood at USD 53.3 million, a 5% lfl growth.

At group level, CME had a 5.5% lfl increase in net revenues in the second quarter of the year to USD 181.9 million, while its OBIDA increased 15.4% to USD 61.2 million. The group’s TV advertising revenues went up 4% at constant rates in the first half of 2017, reflecting significant demand growth in Romania and higher levels of spending in the Czech Republic and Slovenia, the company said.

Earlier this July, CME announced it was selling its Croatia and Slovenia operations.

CME is present in six Eastern European markets, and its operations in the Czech Republic and Romania are the most profitable ones.

CME owns in Romania the TV stations PRO TV, PRO TV International, Acasa, Acasa Gold, PRO Cinema, Sport.ro and MTV Romania, in addition to several websites. The Romanian operations include the TV stations the group owns in the Republic of Moldova, meaning PRO TV Chisinau and Acasa in Moldova.

PRO TV, the leading broadcaster in Romania in terms of audience, runs popular international formats such as Romania’s Got Talent, The Voice of Romania, and MasterChef, as well as popular local shows, such as Las Fierbinti – the most popular local comedy series.

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editor@romania-insider.com