Central European Media Enterprises Ltd. Reports Results For The First Quarter Ended March 31, 2014 May 7, 2014, HAMILTON, BERMUDA Download copy (PDF, 661 kB)
HAMILTON, BERMUDA, May 7, 2014 - Central European Media Enterprises Ltd. ("CME" or the "Company") (NASDAQ/Prague Stock Exchange - CETV) today announced financial results for the first quarter ended March 31, 2014.
Net revenues for the three months ended March 31, 2014 were US$ 153.1 million compared to US$ 132.7 million for the same period in 2013. OIBDA1 for the three months ended March 31, 2014 was US$ (2.3) million compared to US$ (20.8) million in 2013. Operating loss for the three months ended March 31, 2014 was US$ (14.4) million compared to US$ (35.1) million in 2013. Net loss for the three months ended March 31, 2014 was US$ (48.6) million compared to US$ (109.0) million in 2013. Fully diluted loss per share attributable to CME for the three months ended March 31, 2014 was US$ (0.33) compared to US$ (1.23) in 2013.
Michael Del Nin, co-Chief Executive Officer, commented: "The first quarter of 2014 demonstrates tangible results from our operating priorities, including increases in television advertising revenue and carriage fees. Having completed the rights offering and private placement and used the proceeds to discharge the 2016 Fixed Rate Notes, we can now focus our energy on operations to significantly improve financial performance throughout this year."
Christoph Mainusch, co-Chief Executive Officer, added: "Despite increased programming investment by some of our competitors and the broadcast of the winter Olympics on other channels, our focus on efficient and targeted investments in programming led to all-day audience shares increasing in our four largest markets. Our brands and leading audience shares are our most valuable assets, and we are committed to maintaining our leadership positions in each country. And the results of our product performance in the first quarter of 2014 demonstrate our commitment to maintaining this audience share leadership."
1) OIBDA, which includes amortization and impairment of program rights, is determined as operating income / (loss) before depreciation, amortization of intangible assets and impairments of assets as defined in "Segment Data and Non-GAAP Financial Measures" below.
Consolidated Results for the Three Months Ended March 31, 2014
Net revenues for the three months ended March 31, 2014 were US$ 153.1 million compared to US$ 132.7 million for the three months ended March 31, 2013. Operating loss for the three months ended March 31, 2014 was US$ (14.4) million compared to US$ (35.1) million for the three months ended March 31, 2013. Net loss for the three months ended March 31, 2014 was US$ (48.6) million compared to US$ (109.0) million for the three months ended March 31, 2013. Fully diluted loss per share attributable to CME for the three months ended March 31, 2014 was US$ (0.33) compared to US$ (1.23) for the three months ended March 31, 2013.
OIBDA for the three months ended March 31, 2014 was US$ (2.3) million compared to US$ (20.8) million in the same period ended March 31, 2013. OIBDA margin2 for the three months ended March 31, 2014 was (1.5)% compared to (15.7)% for the three months ended March 31, 2013.
Headline consolidated results for the three months ended March 31, 2014 and 2013 were:
RESULTS
(US$000s) For the Three Months Ended March 31,
(unaudited) 2014 2013 % Actual % Lfl3
Net revenues $153,050 $132,715 15.3% 13.4%
OIBDA (2,320) (20,840) 88.9% 88.5%
Operating loss (14,394) (35,085) 59.0% 80.3%
Net loss (48,633) (108,962) 55.4% 55.4%
Fully diluted loss per share $(0.33) $(1.23) Nm4 Nm4
Teleconference and Audio Webcast Details
CME will host a teleconference and audio webcast to discuss its first quarter results on Wednesday, May 7, 2014 at 9 a.m. New York time (2 p.m. London and 3 p.m. Prague time). The audio webcast and teleconference will refer to presentation slides which will be available on CMEs website at www.cme.net prior to the call.
To access the teleconference, U.S. and international callers may dial 1-785-424-1826 ten minutes prior to the start time and reference passcode CETVQ114. The conference call will be audio webcasted via www.cme.net. It can be heard on iPads, iPhones and a range of devices supporting Android and Windows operating systems.
A digital audio replay will be available for two weeks following the call at www.cme.net.
CME will post the results for the three months ended March 31, 2014 for its wholly-owned subsidiary CET 21 spol. s r.o. at www.cme.net by Friday, June 13, 2014.
2) OIBDA margin is defined as the ratio of OIBDA to Net revenues.
3) % Lfl (like-for-like) represents period-on-period percentage change on a constant currency basis.
4) Number is not meaningful.
Forward-Looking and Cautionary Statements
This press release contains forward-looking statements. For all forward-looking statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy or are otherwise beyond our control and some of which might not even be anticipated. Forward-looking statements reflect our current views with respect to future events and because our business is subject to such risks and uncertainties, actual results, our strategic plan, our financial position, results of operations and cash flows could differ materially from those described in or contemplated by the forward-looking statements.
Important factors that contribute to such risks include, but are not limited to, the following: our significant liquidity constraints following the closing of the Rights Offering and relat
Most recent headlines
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
06/09/2026
June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...
04/08/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
04/07/2026
April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...
13/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
13/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
12/06/2026
YES Network and The Gotham Sports App will air seven Athletes Unlimited Softball...
12/06/2026
The United Football League will host its FAST Innovation Suite at the 2026 United Bowl presented by Credit One Bank on Saturday, June 13 at 3:00 p.m. ET at Audi...
12/06/2026
PTZOptics and LayerJot will present live demonstrations at InfoComm 2026 showing how natural-language AI prompting, robotic camera control, and on-device comput...
12/06/2026
MultiDyne Video and Fiber Optic Systems will exhibit at InfoComm 2026, featuring...
12/06/2026
Ateme has announced that Eurovision Services is using Ateme's software-based frame-rate conversion technology for international live event workflows. The de...
12/06/2026
Bitmovin and Simplestream have announced a partnership with Xperi to simplify the launch of OTT streaming services on TiVo OS smart TVs and devices. The collabo...
12/06/2026
Net Insight has announced that a multinational technology company is deploying a...
12/06/2026
MLB Players Inc., the business arm of the MLB Players Association, has announced a partnership with Athletes First to develop and sell brand partnerships across...
12/06/2026
Guntermann and Drunck (G&D) and VuWall have announced the CommandKeyboard-Advanc...
12/06/2026
Comcast Smart Solutions announces a new smart technology deployment with Major L...
12/06/2026
Elevation Worship completed the initial leg of its Elevation Nights 2026 tour ...
12/06/2026
AJA Video Systems has announced KONA IP25 support for Colorfront Transkoder and ...
12/06/2026
Audinate Group Limited (ASX: AD8) will exhibit at InfoComm 2026 (Booth C7321, Ce...
12/06/2026
Pac-12 Commissioner Teresa Gould has announced the appointment of Scott Adametz as Chief Technology Officer. The Pac-12 describes the hire as the first CTO appo...
12/06/2026
Grass Valley has announced AMPP Edge Live, a production system combining Grass Valley hardware, NVIDIA Blackwell GPU acceleration, and AMPP OS in a single platf...
12/06/2026
At one time a trailblazer with the launch of the Longhorn Network, the Universit...
12/06/2026
Ratings Roundup is a rundown of recent rating news and is derived from press rel...
12/06/2026
Chyron has announced PAINT 10.4, an update to its illustrated replay and sports ...
12/06/2026
SVP, Production Mark Gross: With the new schedule, with not having every Sunday night, it's given us an opportunity to take a step back and reimagine what ...
12/06/2026
For Televisa Technical Engineering Manager Roberto N nez Ibarra and the small team of 12 technicians and two production personnel at the IBC things are already ...
12/06/2026
Simple Steps to Better Acoustics - Taming The Small Room
Most of us mix in spare rooms and small spaces, where the acoustics fight us at every turn. At Gear...
12/06/2026
Latest addition expands vintage-inspired effects palette
Meris' Ottobit pedal range draws its inspiration from vintage gaming consoles, and the latest a...
12/06/2026
Soundbox-based chamber strings series expanded
Sonora Cinematic have just announced the launch of the second instalment in their Soundbox-based chamber stri...
12/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
12/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
12/06/2026
AJA Announces KONA IP25 Integration with Colorfront Software
Brie Clayton June 12, 2026
0 Comments
Collaboration enables uncompressed SMPTE ST 2110 I/O ...
12/06/2026
URSA Cine 12K LF Used to Create Visuals for STUTS' K-Arena Concert
Brie Clayton June 12, 2026
0 Comments
Organic visuals projected on a giant scre...
12/06/2026
MTI FILM Acquires Mango New Edit, Expanding its Global Post-Production Services ...
12/06/2026
AI Point Tracking Speeds Up Complex VFX Tracks in Mocha Pro
Jessie Electa Petrov June 12, 2026
0 Comments
The 2026.5 release adds automatic point trac...
12/06/2026
Bitmovin, a provider of video streaming solutions, has partnered with Simplestream, a provider of OTT and broadcast solutions, and technology provider Xperi, to...
12/06/2026
Leostream Corporation, creator of the world-leading Leostream Remote Desktop Access Platform, today announced Jigsaw24, a leading B2B IT solutions provider wit...
12/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
12/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
12/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
12/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
12/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
12/06/2026
How Aussie indie games and screen are levelling up with IP 11 June 2026
Ari Harrison, Pro Jank Footy
Head of Games Joey Egger and Ari Harrison of Umbrella sha...
12/06/2026
AgentPerf from Artificial Analysis, the industry's first agentic AI benchmark, gives developers, enterprises and infrastructure providers a clear way to com...
12/06/2026
Back to All News
Netflix Unveils First-Look Images from Villaflor, Santiago Mitre's New Film
Entertainment
12 June 2026
GlobalArgentina
Link copied to ...
12/06/2026
Back to All News
Cross the Boundaries of the Real World into the Spirit Realm i...
12/06/2026
With John Daro, DI Colourist at Warner Bros. Water Tower Color Tuesday 23 June, 10am-1pm or 3-6pm
Restar Corporation
Tokyo
Register here
John Daro is the ...
12/06/2026
Meet The Grumpy Onion Ireland's newest online sensation, all he wants is to ...
12/06/2026
RT stays Up All Night with brand new daily 2026 FIFA World Cup Vodcast
Adding to the fun around 2026 FIFA World Cup tournament, RT has launched a brand new d...
Central European Media Enterprises Ltd. Reports Results For The First Quarter Ended March 31, 2014 May 7, 2014, HAMILTON, BERMUDA Download copy (PDF, 661 kB)
