ProTV owner sees lower broadcasting revenues in Romania, expects market recovery this year

Central European Media Enterprises (CME), owner of several TV stations in Romania, posted net revenues of USD 157 million in 2010 in Romania, down on the USD 175 million posted the year before. The company’s operating income before depreciation and amortization (OIBDA) was of USD 25.7 million last year, also down on the USD 39.9 million in 2009. The Media Pro Entertainment division, bought in 2009, posted a loss of USD 3 million last year, after a USD 7.5 million profit in 2009. The division's revenues grew from USD 107 million in 2009 to USD 140.7 million. "In the fourth quarter our sales and OIBDA increased as a result of the restructuring of our broadcasting business and the start of recovery in certain markets. 2010 was our first year of operating as a fully vertically integrated media company. We now run six leading broadcast operations, an integrated content division, Media Pro Entertainment, and a rapidly growing New Media segment. In 2011 we expect all our markets to recover. Our priority is to deliver growth in revenues, OIBDA and free cash flow,” said Adrian Sarbu, President and Chief Executive Officer of CME (in picture). CME owns several TV stations in Romania, such as PRO TV, PRO TV International, Acasa, PRO Cinema, Sport.ro and MTV Romania, as well as Media Pro Entertainment company. editor@romania-insider.com