BUENOS AIRES, ARGENTINA / ACCESSWIRE / May 11, 2021 / Cablevisión Holding S.A., ("Cablevision Holding", "CVH" or "the Company'' - (BCBA:CVH)(LSE: CVH)(OTC PINK:CVHSY), controlling shareholder of Telecom Argentina S.A. (TEO)(TECO2), announced today its first quarter 2021 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 March 31, 2021, unless otherwise indicated.
The Company's Management has applied IAS 29 (inflation adjustment) in the preparation of these financial statements, following the provisions of Resolution 777/18, issued by the Comisión Nacional de Valores ("CNV").
CVH Highlights (1Q21 vs. 1Q20):
- Total Revenues reached Ps. 82,547 million, a decrease of 7.8% in real terms as of 1Q21, compared to the same period of 2020, mainly driven by lower revenues from mobile, internet, cable TV, fixed telephony, and other revenues from services, which was partially offset by higher revenues from equipment sales, in a context of an increasing inflation, where price increases of mobile and fixed Telephony, Internet and Pay TV services were suspended between May 1 to August 31, 2020, as agreed by industry players & the National Communications Entity (ENACOM), and from July 31, 2020 to December 31, 2020 through the Decree 690/2020.
- Total Costs (Excluding Depreciation and Amortization) reached Ps. 52,564 million, a decrease of 9.7% in constant currency, mainly driven by lower bad debt expenses, employee benefits expenses and severance payments, other operating expenses, commissions and advertising costs, programming and content costs, fees for services, maintenance, materials and supplies, taxes and fees with the Regulatory Authority, partially offset by higher costs of equipment and handset as well as higher interconnection costs.
- EBITDA reached Ps. 29,983 million as of 1Q21, a decrease of 4.3% in real terms compared to 1Q20, mainly driven by lower revenues, partially offset by lower operating costs, which resulted in a higher EBITDA Margin of 36.3% in 1Q21, compared to 35.0% in 1Q20.
- Consolidated Net Income amounted Ps. 8,955 million. Consolidated Net Income attributable to the Controlling Company amounted to Ps. 3,364 million.
(millions of Ps.in constant Currency as of March 31, 2021)
EBITDA Margin (2)
Loss for the period
(1) 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.
(2) 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
LIVE WEBCAST INFORMATION
CABLEVISIÓN HOLDING S.A
cordially invites you to participate in its Webcast Presentation
to discuss First Quarter 2021 Results
Date: Tuesday, May 18, 2021
Time: 12:00pm Buenos Aires Time/11:00am New York Time/4:00pm London
To access the live stream and slide Webcast presentation, visit:
The webcast presentation will also be available at: https://www.cablevisionholding.com/Investors
ABOUT THE COMPANY
CVH was founded as a corporate spin-off 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 Argentina and the region. CVH's subsidiaries specialize in the provision of cable TV, broadband and mobile communications services; and their brands are already well known in the telecommunications and content distribution industries.
In New York:
Fig Corporate Communications
Camilla Ferreira/Marcella Ewerton
Tel: +1 917 691 4047
SOURCE: Cablevision Holding S.A.
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