CME's Q1 financial results improve after Adrian Sarbu's departure

CME’s Q1 financial results improve after Adrian Sarbu’s departure

Newsroom 07/05/2014 | 14:48

Central Media Enterprises (CME), the mother company of Pro TV group in Romania, posted revenues of USD 49.6 million in Romania for the first quarter of the year, ended March 2014. This represents a USD 7 million growth compared to the first quarter of last year, according to economica.net.

Net revenues in Romania surged from USD 49.6 million compared to USD 42 million in Q1, 2013.

Net losses slid downwards from USD 109 million in 2013, to USD 48.6 million in Q1, 2014.

The EBITDA in Romania increased four-fold from USD 959,000 to USD 5.4 million.

These are the first financial indicators released after Adrian Sarbu’s departure from the helm of CME. Sarbu announced in August he would be leaving, which became effective in January 2014.

Mother company CME posted net revenues of USD 153.1 million, up from USD 132.7 million in Q1, 2013.

In the region, CME has stations in Bulgaria (bTV, bTV Cinema, bTV Comedy, bTV Action, bTV Lady, bTV Lady+1, Ring.bg and Ring.bg+1), Croatia (Nova TV, Doma, Nova World and Mini TV), the Czech Republicv TV Nova, Nova Cinema, Nova Sport, Fanda, Smichov and Telka), Romania (PRO TV, PRO TV International, Acasa, Acasa Gold, PRO Cinema, Sport.ro, MTV Romania, PRO TV Chisinau and Acasa in Moldova), Slovakia (TV Markíza, Doma and Dajto), and Slovenia (POP TV, Kanal A, Brio, Oto and Kino).