Pro TV – $67M business in 2012, at the end of S1

Cristina Blanaru Business, Media

ProTV SA, leader on Romanian TV market, reported, for S1 2012, a turnover of $67.5M, with an operational profit of $7M, Mediafax writes.

During Q2,  company’s turnover – that includes ProTV, Acasa TV, Acasa Gold TV, Procinema, Sport.ro, ProTV Internaţional, ProTV Chisinau and MTV Romania TV stations – was of $36.3M, with $5M operational profit.

By July 3, 2012 we had completed transactions with our major shareholders, Time Warner and Ronald Lauder, which reduced our debt by US$ 185 million. Despite a 7% decline in advertising spending for the first half, our revenues year-on-year were flat in constant currencies, driven by growth in Media Pro Entertainment and New Media, where Voyo became a leader in the subscription video-on-demand segment. In the second half of the year, we will continue to focus on deleveraging, maintaining our leading audience and market shares, expanding non-advertising revenues, and delivering positive free cash flow.

Adrian Sarbu

CME’s President & CEO

ProTV S.A. is part of Central European Media Enterprises (CME).

CME posted, for the second quarter in 2012, net revenues of $211.2M, down from $249.7M for the same period in 2011. Operating income for the quarter was $23.7M, compared to $39.5M for the same period in 2011.

Net revenues for S1 2012 were of $378.7M, compared to $422.4M for the same period in 2011, while operating income for the same period were of $13.3M .