BUENOS AIRES, ARGENTINA / ACCESSWIRE / May 19, 2020 / Cablevisión Holding S.A., ('Cablevision Holding', 'CVH' or 'the Company')(BCBA:CVH)(LSE:CVH)(OTC PINK:CVHSY), controlling shareholder of Telecom Argentina S.A. (NYSE:TEO)(BCBA:TECO2), announces today its First quarter 2020 Results. Figures have been prepared in accordance with International Financial Reporting Standards ('IFRS') and are stated in constant Argentine Pesos ('Ps.' or 'P$') as of March 31, 2020, unless otherwise indicated.
The Company's Management has applied IAS 29 in the preparation of these financial statements (inflation adjustment) because Resolution 777/18, issued by the Comisión Nacional de Valores ('CNV'), establishes that the restatement will be applied to the annual financial statements.
CVH Highlights (1Q20 vs. 1Q19):
- Total Revenues reached Ps. 62,762 million, a decrease of 4.5% in real terms as of March 31, 2020, compared to 1Q19, mainly due to lower Internet, Cable and Fixed Telephony and Data services revenues.
- Total Costs (Excluding Depreciation and Amortization) reached Ps. 40,808 million, a decrease of 8.0% in constant currency, mainly driven by lower labor costs, taxes and fees, commissions and advertising, cost of handsets sold, interconnection and transmission and programing and content costs.
- EBITDA reached Ps. 21,954 million, an increase of 2.7% in real terms compared to 1Q19, mainly driven as a result of lower costs, which decreased at a faster pace as compared to revenues drop. EBITDA Margin was 35.0% in 1Q20, compared to 32.5% in 1Q19.
- Consolidated Net Income totaled Ps. 2,774 million. Consolidated Net Income attributable to the Controlling Company amounted Ps. 1,125 million.
(1) EBITDA is defined as Total Revenues minus operating cost and expenses (excluding depreciation and amortization). We believe that EBITDA is a meaningful measure of our performance. It is commonly used to analyze and compare media companies based on operating performance, leverage and liquidity. Nonetheless, EBITDA is not a measure of net income or cash flow from operations and should not be considered as an alternative to net income, an indication of our financial performance, an alternative to cash flow from operating activities or a measure of liquidity. Other companies may compute EBITDA in a different manner; therefore, EBITDA as reported by other companies may not be comparable to EBITDA as we report it.
(2) EBITDA Margin is defined as EBITDA over Total Revenues.
For a full version of this earnings release with financial statements, go to: https://www.cablevisionholding.com/Investors
CONFERENCE CALL INFORMATION
CABLEVISIÓN HOLDING S.A cordially invites you to participate in its conference call and webcast presentation to discuss First Quarter 2020 Results
Date: Wednesday, May 20, 2020
Time: 12:00pm Buenos Aires Time/11:00am New York Time/4:00pm London
To access the conference call, please dial:
Argentina Participants: 0-800-666-0250
U.S. Participants: 1-877-830-2576
All other countries: +1-785-424-1726
The 1Q20 results will be accompanied by a webcast presentation. To access the live stream and slide presentation, visit: https://services.choruscall.com/links/cvhsy2005207adPTRbp.html
A replay of the conference call will be available four hours after its conclusion, and will remain available for 7 days. To access the replay, please dial from the within the U.S. 1-844-488-7474, or from anywhere outside the U.S. +1-862-902-0129. The passcode is: 29246471
The webcast presentation will be archived at: https://www.cablevisionholding.com/Investors/Presentations
About the Company
CVH was funded as corporate spinoff from Grupo Clarín S.A. and it is the first Argentine holding company that engages in the development of infrastructure and the provision of convergent telecommunications services, focusing on the country and the region. The companies, products and brands that depend on Cablevisión Holding are already big names in the telecommunications and content distribution industries. They specialize in the provision of cable TV, broadband and mobile communications services.
Investor Relations Contacts:
SOURCE: Cablevision Holding S.A. via EQS Newswire
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