PRO TV’s parent company records lower revenues in Romania

Central European Media Enterprises (CME), which owns Romania’s largest TV station PRO TV, recorded in Romania revenues of EUR 30.4 million in the first quarter of the year. These went down compared to the first quarter of 2014, when it posted EUR 33.4 million in revenues. The operating profit before depreciation and amortization (OIBDA) fell from EUR 3.9 million in the first quarter of 2014 to EUR 2.9 million in the first three months of 2015. The company’s net revenues decreased on all the market where CME is active, namely Bulgaria, Croatia, the Czech Republic, Romania, Slovakia, and Slovenia. In calculating the OIBDA, CME did not consider costs of USD 18.2 million recorded in the first quarter and stemming from an ongoing fiscal control carried out at Pro TV. It estimates these costs would go up. editor@romania-insider.com