Central European Media Enterprises Ltd. (CME), which controls Romanian channels Pro TV, Pro TV International, Acasa TV, ProCinema TV, Sport.ro, MTV Romania and Pro TV Chisinau posted a turnover of USD 159.3 million, according to the financial indicators of the company.
In 2010, CME posted USD 157.4 million revenues in Romania.
Net revenues of the group amounted to USD 864.8 million in 2011, having grown by USD 127.6 million year-on-year.
CME is led by Romanian Adrian Sarbu, president and chief executive officer, who commented:
“In a difficult year we kept our promises: our revenues grew by 17 percent, our OIBDA (operating income before depreciation and amortization) increased by 56 percent and our cash flow improved by 96 percent. We outperformed the markets following successful implementation of our new business model: one content, multiple distribution. (…) In 2012, we will focus on deleveraging, strengthening our leadership and fuelling new revenue engines.”