Media group CME’s Romanian operations increase by 10%

Central European Media Enterprises (CME), one of the largest media groups in the CEE region, increased its net revenues in Romania by 10% in 2014, to USD 179 million. The groups operating profit before depreciation and amortization (OIBDA) in Romania went up to USD 37.2 million, from just USD 2.45 million in 2013. CME owns Romania’s largest TV station PRO TV, as well as several niche TV stations and online portals. Romania is the second largest market for CME in terms of revenues and operating income, after Czech Republic. The group is also present in Slovakia, Bulgaria, Croatia and Slovenia. CME posted an overall growth in net revenues of 10%, in 2014, to USD 681 million. It returned to operational profit, with an OIBDA of USD 95.4 million, from an operating loss of USD 48.4 million. However, the bottom line remained in the red, due to the high level of debt. The group’s net loss was USD 151 million, down from USD 276 million. Andrei Chirileasa, andrei@romania-insider.com