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CablevisiĆ³n 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.
CablevisiĆ³n 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 ĆØ 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 ĆØ aumentato significativamente a Ps. 856.045 milioni.
– L’utile netto attribuibile alla societĆ controllante ha raggiunto Ps. 329.661 milioni.
L’azienda ha affrontato sfide poichĆ© 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 redditivitĆ .
CablevisiĆ³n Holding S.A. (CVH) reportĆ³ 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 comparaciĆ³n con el 1H23.
– El EBITDA cayĆ³ un 9,1% a Ps. 494.028 millones, mientras que el margen EBITDA mejorĆ³ al 29,6% desde el 28,3%.
– El ingreso neto consolidado aumentĆ³ significativamente a Ps. 856.045 millones.
– El ingreso neto atribuible a la empresa controladora alcanzĆ³ Ps. 329.661 millones.
La empresa enfrentĆ³ desafĆos, ya que los aumentos de precios de los servicios no fueron suficientes para compensar la inflaciĆ³n. Sin embargo, las reducciones de costos en todos los rubros ayudaron a mitigar el impacto en la rentabilidad.
ģ¹“ėøė¹ģ ķė©ģ¤ S.A. (CVH)ė 2024ė 1ė¶źø° ė° 2ė¶źø° ź²°ź³¼ė„¼ ė°ķķģµėė¤. ģ£¼ģ ė“ģ©ģ ė¤ģź³¼ ź°ģµėė¤:
– ģ“ ģģµģ“ 1H23ģ ė¹ķ“ 1H24ģģ Ps. 1,666,979ė°±ė§ģ¼ė” 13.3% ź°ģķģµėė¤.
– EBITDAė Ps. 494,028ė°±ė§ģ¼ė” 9.1% ź°ģķģ¼ė, EBITDA ė§ģ§ģ 28.3%ģģ 29.6%ė” ź°ģ ėģģµėė¤.
– ģ°ź²° ģģ“ģµģ Ps. 856,045ė°±ė§ģ¼ė” ķ¬ź² ģ¦ź°ķģµėė¤.
– ģ§ė°° ķģ¬ģ ź·ģėė ģģ“ģµģ Ps. 329,661ė°±ė§ģ ė¬ķģµėė¤.
ķģ¬ė ģė¹ģ¤ ź°ź²© ģøģģ“ ģøķė ģ“ģ ģ ģģķźø°ģ ė¶ģ¶©ė¶ķģ¼ė, ėŖØė ķėŖ©ģģ ė¹ģ© ģ ź°ģ“ ģģµģ±ģ ėÆøģ¹ė ģķ„ģ ģķķė ė° ėģģ“ ėģģµėė¤.
CablevisiĆ³n Holding S.A. (CVH) a prĆ©sentĆ© ses rĆ©sultats pour le premier semestre et le deuxiĆØme trimestre 2024. Les points saillants incluent :
– Les revenus totaux ont diminuĆ© de 13,3 % pour atteindre 1 666 979 millions de Ps au 1H24 par rapport au 1H23.
– L’EBITDA a chutĆ© de 9,1 % pour s’Ć©lever Ć 494 028 millions de Ps, avec une marge EBITDA amĆ©liorĆ©e Ć 29,6 % contre 28,3 %.
– Le rĆ©sultat net consolidĆ© a fortement augmentĆ© pour atteindre 856 045 millions de Ps.
– Le rĆ©sultat net attribuable Ć la sociĆ©tĆ© mĆØre a atteint 329 661 millions de Ps.
L’entreprise a Ć©tĆ© confrontĆ©e Ć des dĆ©fis, car les augmentations de prix des services n’Ć©taient pas suffisantes pour compenser l’inflation. Cependant, la rĆ©duction des coĆ»ts dans tous les domaines a aidĆ© Ć attĆ©nuer l’impact sur la rentabilitĆ©.
CablevisiĆ³n Holding S.A. (CVH) hat die Ergebnisse des ersten Halbjahres und des zweiten Quartals 2024 verƶffentlicht. Zu den wichtigsten Punkten gehƶren:
– Die Gesamterlƶse 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, wƤhrend 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 gegenĆ¼ber, da die Preiserhƶhungen fĆ¼r Dienstleistungen nicht ausreichten, um die Inflation auszugleichen. Allerdings halfen Kostensenkungen in allen Bereichen, die Auswirkungen auf die RentabilitƤt zu mildern.
Positive
- 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
Negative
- 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 / CablevisiĆ³n 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 ComisiĆ³n 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 of 29.6% in 1H24, compared to 28.3% 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
CABLEVISIĆN 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 ClarĆn 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: |
|
CablevisiĆ³n 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
FAQ
What was CablevisiĆ³n Holding’s (CVHSY) revenue for the first half of 2024?
CablevisiĆ³n Holding’s total revenue for the first half of 2024 was Ps. 1,666,979 million, representing a 13.3% decrease compared to the same period in 2023.
How did CablevisiĆ³n Holding’s (CVHSY) EBITDA perform in 1H 2024?
CablevisiĆ³n Holding’s EBITDA reached Ps. 494,028 million in 1H 2024, decreasing by 9.1% in real terms compared to 1H 2023. However, the EBITDA Margin improved to 29.6% from 28.3% in the previous year.
What was CablevisiĆ³n Holding’s (CVHSY) net income for the first half of 2024?
CablevisiĆ³n Holding reported a consolidated net income of Ps. 856,045 million for the first half of 2024. The net income attributable to the Controlling Company amounted to Ps. 329,661 million.
How did inflation impact CablevisiĆ³n Holding’s (CVHSY) financial results in 1H 2024?
Inflation significantly impacted CablevisiĆ³n Holding’s results, as price increases for services in 2023 and the first half of 2024 were insufficient to compensate for the 271.5% interannual inflation rate as of June 2024, leading to a decrease in real-term revenues.
