CME grows nine-month revenues in Romania as TV ads market shows mixed recovery

Central European Media Enterprises, the owner of ProTV channel in Romania posted net revenues of USD 112.4 million in the first three quarters of this year in the country, up from USD 109.1 million during the same period of last year. This was the second highest revenue volume among the countries where CME is active, with the Czech Republic leading the pack with USD 195.6 million.

The media company's operating income before depreciation and amortization (OIBDA) in Romania was of USD 17.3 million after nine months, compared to USD 19.5 million during the same period of 2010. “In the first nine months of 2011 we doubled our OIBDA from USD 43 million to USD 86 million when our TV ad markets showed mixed recovery. We now expect to generate revenues of approximately USD 850 million and OIBDA of USD 166 million for the full year. Audience leadership and cash flow generation remain our main priorities,” said Adrian Sarbu, CME's President and CEO (in picture). CME owns several TV channels in Romania: PRO TV, PRO TV International, Acasa, PRO Cinema, Sport.ro, MTV Romania, as well as PRO TV Chisinau in the Republic of Moldova. Romania and the Czech Republic were the only countries where the company posted a positive OIBDA during the third quarter of this year, while Bulgaria, Croatia, the Slovak Republic and Slovenia stayed on the loss side. All in all, CME's total net revenues during the third quarter of the year grew by USD 31.1 million, to USD 165.5 million compared to the third quarter of 2010. The full report here. editor@romania-insider.com