Cablevisión Holding Announces Its First Half and Second Quarter 2024 Results
Cablevisión Holding S.A. (CVH) reported its First Half and Second Quarter 2024 Results. Key highlights include:
- Total Revenues decreased by 13.3% to Ps. 1,666,979 million in 1H24 compared to 1H23.
- EBITDA declined by 9.1% to Ps. 494,028 million, with EBITDA Margin improving to 29.6% from 28.3%.
- Consolidated Net Income rose significantly to Ps. 856,045 million.
- Net Income attributable to the Controlling Company reached Ps. 329,661 million.
The company faced challenges as price increases for services were insufficient to offset inflation. However, cost reductions across all items helped mitigate the impact on profitability.
Cablevisión Holding S.A. (CVH) ha riportato i risultati per il primo semestre e il secondo trimestre del 2024. I punti salienti includono:
- I ricavi totali sono diminuiti del 13,3% a Ps. 1.666.979 milioni nel 1H24 rispetto al 1H23.
- L'EBITDA è sceso del 9,1% a Ps. 494.028 milioni, con un margine EBITDA migliorato al 29,6% rispetto al 28,3%.
- L'utile netto consolidato è aumentato significativamente a Ps. 856.045 milioni.
- L'utile netto attribuibile alla società controllante ha raggiunto Ps. 329.661 milioni.
L'azienda ha affrontato sfide poiché gli aumenti di prezzo per i servizi non sono stati sufficienti a compensare l'inflazione. Tuttavia, le riduzioni dei costi su tutti gli articoli hanno contribuito a mitigare l'impatto sulla redditività.
Cablevisión Holding S.A. (CVH) reportó sus resultados para el primer semestre y el segundo trimestre de 2024. Los puntos destacados incluyen:
- Los ingresos totales disminuyeron un 13,3% a Ps. 1.666.979 millones en el 1H24 en comparación con el 1H23.
- El EBITDA cayó un 9,1% a Ps. 494.028 millones, mientras que el margen EBITDA mejoró al 29,6% desde el 28,3%.
- El ingreso neto consolidado aumentó significativamente a Ps. 856.045 millones.
- El ingreso neto atribuible a la empresa controladora alcanzó Ps. 329.661 millones.
La empresa enfrentó desafíos, ya que los aumentos de precios de los servicios no fueron suficientes para compensar la inflación. Sin embargo, las reducciones de costos en todos los rubros ayudaron a mitigar el impacto en la rentabilidad.
카블비전 홀딩스 S.A. (CVH)는 2024년 1분기 및 2분기 결과를 발표했습니다. 주요 내용은 다음과 같습니다:
- 총 수익이 1H23에 비해 1H24에서 Ps. 1,666,979백만으로 13.3% 감소했습니다.
- EBITDA는 Ps. 494,028백만으로 9.1% 감소했으나, EBITDA 마진은 28.3%에서 29.6%로 개선되었습니다.
- 연결 순이익은 Ps. 856,045백만으로 크게 증가했습니다.
- 지배 회사에 귀속되는 순이익은 Ps. 329,661백만에 달했습니다.
회사는 서비스 가격 인상이 인플레이션을 상쇄하기에 불충분했으나, 모든 항목에서 비용 절감이 수익성에 미치는 영향을 완화하는 데 도움이 되었습니다.
Cablevisión Holding S.A. (CVH) a présenté ses résultats pour le premier semestre et le deuxième trimestre 2024. Les points saillants incluent :
- Les revenus totaux ont diminué de 13,3 % pour atteindre 1 666 979 millions de Ps au 1H24 par rapport au 1H23.
- L'EBITDA a chuté de 9,1 % pour s'élever à 494 028 millions de Ps, avec une marge EBITDA améliorée à 29,6 % contre 28,3 %.
- Le résultat net consolidé a fortement augmenté pour atteindre 856 045 millions de Ps.
- Le résultat net attribuable à la société mère a atteint 329 661 millions de Ps.
L'entreprise a été confrontée à des défis, car les augmentations de prix des services n'étaient pas suffisantes pour compenser l'inflation. Cependant, la réduction des coûts dans tous les domaines a aidé à atténuer l'impact sur la rentabilité.
Cablevisión Holding S.A. (CVH) hat die Ergebnisse des ersten Halbjahres und des zweiten Quartals 2024 veröffentlicht. Zu den wichtigsten Punkten gehören:
- Die Gesamterlöse sind im 1H24 im Vergleich zum 1H23 um 13,3% auf Ps. 1.666.979 Millionen gesunken.
- Das EBITDA fiel um 9,1% auf Ps. 494.028 Millionen, während die EBITDA-Marge von 28,3% auf 29,6% stieg.
- Der konsolidierte Nettogewinn stieg signifikant auf Ps. 856.045 Millionen.
- Der Nettogewinn, der dem Mutterunternehmen zuzuschreiben ist, erreichte Ps. 329.661 Millionen.
Das Unternehmen sah sich Herausforderungen gegenüber, da die Preiserhöhungen für Dienstleistungen nicht ausreichten, um die Inflation auszugleichen. Allerdings halfen Kostensenkungen in allen Bereichen, die Auswirkungen auf die Rentabilität zu mildern.
- EBITDA Margin improved to 29.6% in 1H24 from 28.3% in 1H23
- Consolidated Net Income increased substantially to Ps. 856,045 million
- Total Costs (Excluding Depreciation and Amortization) decreased by 14.9% in constant currency
- Total Revenues declined by 13.3% to Ps. 1,666,979 million in 1H24 compared to 1H23
- EBITDA decreased by 9.1% to Ps. 494,028 million in 1H24 versus 1H23
- Price increases for services were insufficient to compensate for inflation (271.5% interannually as of June 2024)
BUENOS AIRES, ARGENTINA / ACCESSWIRE / August 12, 2024 / Cablevisión Holding S.A., ("Cablevision Holding", "CVH" or "the Company") - (BCBA:CVH)( Level 1: CVHSY), controlling shareholder of Telecom Argentina S.A. (NYSE: TEO, BCBA: TECO2), announced today its First Half and Second Quarter 2024 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 June 30, 2024, 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 (1H24 vs. 1H23):
Total Revenues reached Ps. 1,666,979 million, a decrease of
13.3% in real terms as of 1H24, compared to the same period of 2023, in a context in which price increases for our services in 2023 and the first half of 2024 weren't sufficient to compensate for the lag vis a vis inflation (271.5% interannually as of June 2024).Total Costs (Excluding Depreciation and Amortization) reached Ps. 1,172,951 million, a decrease of
14.9% in constant currency, driven by lower costs on all items.EBITDA reached Ps. 494,028 million as of 1H24, a decrease of
9.1% in real terms compared to 1H23, mainly driven by lower revenues, partially offset by lower operating costs, which resulted in an EBITDA Margin of29.6% in 1H24, compared to28.3% in 1H23.Consolidated Net Income amounted to Ps. 856,045 million. Consolidated net income attributable to the Controlling Company amounted to Ps. 329,661 million.
FINANCIAL HIGHLIGHTS
(millions of Ps. in constant Currency as of June 30, 2024) |
|
| 1H24 |
|
|
| 1H23 |
|
| % Ch. |
|
|
| 2Q24 |
|
|
| 1Q24 |
|
|
| 2Q23 |
|
| QoQ |
|
| YoY |
| |||
Total Revenues |
|
| 1,666,979 |
|
|
| 1,921,749 |
|
|
| (13.3 | %) |
|
| 856,084 |
|
|
| 810,895 |
|
|
| 933,838 |
|
|
| 5.6 | % |
|
| (8.3 | %) |
EBITDA (1) |
|
| 494,028 |
|
|
| 543,503 |
|
|
| (9.1 | %) |
|
| 248,930 |
|
|
| 245,098 |
|
|
| 245,206 |
|
|
| 1.6 | % |
|
| 1.5 | % |
EBITDA Margin (2) |
|
| 29.6 | % |
|
| 28.3 | % |
|
| 4.8 | % |
|
| 29.1 | % |
|
| 30.2 | % |
|
| 26.3 | % |
|
| (3.8 | %) |
|
| 10.7 | % |
Net income |
|
| 856,045 |
|
|
| 150,484 |
|
|
| 468.9 | % |
|
| 57,087 |
|
|
| 798,958 |
|
|
| 20,891 |
|
|
| (92.9 | %) |
|
| 173.3 | % |
Attributable to: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity Shareholders |
|
| 329,661 |
|
|
| 56,023 |
|
|
| 488.4 | % |
|
| 19,568 |
|
|
| 310,095 |
|
|
| 7,527 |
|
|
| (93.7 | %) |
|
| 160.0 | % |
Non-Controlling Interests |
|
| 526,384 |
|
|
| 94,461 |
|
|
| 457.2 | % |
|
| 37,519 |
|
|
| 488,862 |
|
|
| 13,364 |
|
|
| (92.3 | %) |
|
| 180.8 | % |
(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.
CONFERENCE CALL AND WEBCAST INFORMATION
CABLEVISIÓN HOLDING S.A
(BCBA: CVH / OTC: CVHSY)
cordially invites you to participate in its Webcast Presentation
to discuss the First Half and Second Quarter 2024 Results
Date: Thursday, August 14, 2024
Time: 12:30pm Buenos Aires /11:30am New York /4:30pm London
To access the live stream and slide presentation, visit: https://event.choruscall.com/mediaframe/webcast.html?webcastid=sHFfjdM4
The webcast presentation will also be available at: https://www.cablevisionholding.com/Investors
ABOUT THE COMPANY
CVH was founded as 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 well known in the telecommunications and content distribution industries.
Disclaimer
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of CVH. You can identify forward-looking statements by terms such as "expect", "believe", "anticipate", "estimate", "intend", "will", "could", "may" or "might" the negative of such terms or other similar expressions. These statements are only predictions and actual events or results may differ materially. CVH does not intend to or undertake any obligation to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in CVH's projections or forward-looking statements, including, among others, general economic conditions, CVH's competitive environment, risks associated with operating in Argentina a, rapid technological and market change, and other factors specifically related to CVH and its operations.
Investor Relations Contacts: |
|
In Buenos Aires: | In New York: |
Cablevisión Holding S.A. | Fig Corporate Communications |
Samantha Olivieri, Head of Investor Relations | Camilla Ferreira and Marcella Ewerton Dragone |
Email: ir@cvh.com.ar | Email: fig@fig.ooo |
Tel: (+54 11) 4309 - 3417 | Tel: +1 917 691-4047 |
|
SOURCE: Cablevision Holding S.A.
View the original press release on accesswire.com
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