Cablevisión Holding Announces its Full Year and Fourth Quarter 2019 Results (FY19 and 4Q19)

BUENOS AIRES, ARGENTINA / ACCESSWIRE /  March 10, 2020 / Cablevisión Holding S.A., ("Cablevision Holding", "CVH" or "the Company" – BCBA: CVH; LSE: CVH; Level 1: CVHSY), controlling shareholder of Telecom Argentina S.A. (NYSE: TEO, BCBA: TECO2), announces today its Full Year and fourth quarter 2019 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 December 31, 2019, 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 (2019 vs. 2018):

Total Revenues reached Ps. 237,024 million, a decrease of 8.3% in real terms as of December 31, 2019, compared to 2018, mainly due to lower mobile, internet and cable services revenues.
Total Costs (Excluding Depreciation and Amortization) reached Ps. 160,236 million, a decrease of 7.0% in constant currency, mainly driven by lower cost of taxes and fees with the regulatory authority (in line with a decrease in activity), commissions and advertising and cost of handsets sold.
EBITDA reached Ps. 76,788 million, a decrease of 11% in real terms compared to 2018, mainly driven by lower revenues. EBITDA Margin was 32.4% in 2019, compared to 33.4% in 2018.
Consolidated Net Income totaled a loss of Ps. 5,185 million. Consolidated Net Income attributable to the Controlling Company amounted a loss of Ps. 3,025 million.

FINANCIAL HIGHLIGHTS

(millions of Ps.in constant Currency as of December 31, 2019)

 
2019
 
 
2018
 
 
% Ch.
 
 
 
4Q19
 
 
 
3Q19
 
 
 
4Q18
 
 
QoQ
 
 
YoY
 

Total Revenues

 
 
237,024
 
 
 
258,518
 
 
 
(8.3
%)
 
 
58,609
 
 
 
59,330
 
 
 
59,771
 
 
 
(1.2
%)
 
 
(1.9
%)

EBITDA (1)

 
 
76,788
 
 
 
86,251
 
 
 
(11.0
%)
 
 
17,632
 
 
 
19,334
 
 
 
17,168
 
 
 
(8.8
%)
 
 
2.7
%

EBITDA Margin (2)

 
 
32.4
%
 
 
33.4
%
 
 
(2.9
%)
 
 
30.1
%
 
 
32.6
%
 
 
28.7
%
 
 
(2.5
%)
 
 
1.4
%

Income for the period

 
 
(5,185
)
 
 
2,883
 
 
 
(279.8
%)
 
 
11,695
 
 
 
(24,836
)
 
 
23,472
 
 
 
147.1
%
 
 
(50.2
%)

Attributable to:

Equity Shareholders

 
 
(3,025
)
 
 
(2,467
)
 
 
(22.6
%)
 
 
5,328
 
 
 
(11,084
)
 
 
10,220
 
 
 
148.1
%
 
 
(47.9
%)

Non-Controlling Interests

 
 
(2,160
)
 
 
5,350
 
 
 
(140.4
%)
 
 
6,366
 
 
 
(13,753
)
 
 
13,252
 
 
 
146.3
%
 
 
(52.0
%)

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.
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
(BCBA: CVH / LSE: CVH)
cordially invites you to participate in its conference call and webcast presentation to discuss Fourth Quarter 2019 Results

Date: Thursday, March 12, 2020
Time: 12:00pm Buenos Aires Time/11:00am New York Time/3:00pm 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
Passcode: CVH

The 4Q19 results will be accompanied by a webcast presentation. To access the live stream and slide presentation, visit: https://services.choruscall.com/links/cvhsy200312AE2xfPba.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 within the U.S. 1-844-488-7474, or from anywhere outside the U.S. +1-862-902-0129. The passcode is: 50122820

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

In Buenos Aires:
Cablevisión Holding S.A
Agustín Medina Manson, Head of Investor Relations
Valentina López, Sr. Investor Relations Analyst
Tel: (+54 11) 4309 – 3417
Email: ir@cvh.com.ar

In New York
i-advize Corporate Communications
Camilla Ferreira / Kenia Vargas
Tel: +1 212 406 3695 / 3696
Email:cferreira@i-advize.com
kvargas@i-advize.com

SOURCE: Cablevision Holding S.A. via EQS Newswire

ReleaseID: 580068