PRO TV company, which owns TV stations PRO TV, Acasa, PRO TV International, PRO Cinema, Sport.ro and MTV Romania, in the first nine months of this year generated EBITDA worth 81.78m dollars, 43% above the value reached in the same period last year.
The company's revenues increased by 45% and reached $197.11m. Thus, PRO TV's profit margin stands at around 41%. In Q3, the company reported operating income worth $20.11m, from $19.48m in the same period of 2007, with the increase amounting to around 3%. Segment net revenues hit $59.28m in Q3, 33% above the value of Q3, 2007.
The financial results were published yesterday by US group Central European Media Enterprises (CME), which owns 95% of Pro TV. Adrian Sarbu owns the remaining 5%. Sarbu is the owner of MediaPro group that holds, among others, Ziarul Financiar.
As reported at the October 23, 2008 investor meeting, CME expects to deliver segment net revenues worth $1,039m and segment EBITDA of $370m, based on the exchange rates in the countries the group operates in. The value of the dollar has appreciated significantly against the euro and the local currencies in the group's markets, a tendency that will maintain until yearend, CME officials consider. This is why they believe their local currency guidance is a better indicator of the underlying performance of the group's operations.
"Our nine-month results highlight the continued strength of our operations across all our markets and we are reaffirming our local currency guidance for 2008. This means that 2008 will be another outstanding year for CME, continuing our record of delivering year-on-year revenue and earnings growth," stated Michael Garin, CME's CEO. "We are committed to delivering double-digit local currency revenue and EBITDA growth in 2009 in any economic scenario", he added.
Adrian Sarbu, Chief Operating Officer of CME, adde
