BUENOS AIRES, ARGENTINA / ACCESSWIRE / August 10, 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. (NYSE: TEO, BCBA: TECO2), announced today its First Half and Second 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 June 30, 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 (1H21 vs. 1H20):
- Total Revenues reached Ps. 180,018 million, a decrease of 8.6% in real terms as of 1H21, compared to the same period of 2020, mainly driven by lower revenues from mobile, internet, fixed telephony and cable TV, which was partially offset by higher revenues from equipment sales, in a context in which price increases for our services in 2021 weren't sufficient to compensate for the lag vis a vis inflation (50,2% interannually as of June 2021), as a result of the price freeze from May to December 2020.
- Total Costs (Excluding Depreciation and Amortization) reached Ps. 118,905 million, a decrease of 5.1% in constant currency, mainly driven by lower bad debt expenses, employee benefits expenses and severance payments, taxes and fees with the Regulatory Authority, programming and content costs, commissions and advertising costs, interconnection costs, fees for services, maintenance, materials and supplies; partially offset by higher costs of equipment and handset and other operating expenses.
- EBITDA reached Ps. 61,113 million as of 1H21, a decrease of 14.7% in real terms compared to 1H20, mainly driven by lower revenues, partially offset by lower operating costs, which resulted in a lower EBITDA Margin of 33.9% in 1H21, compared to 36.4% in 1H20.
- Consolidated Net Loss amounted Ps. 1,883 million. Consolidated net loss attributable to the Controlling Company amounted to Ps. 990 million.
FINANCIAL HIGHLIGHTS
| (millions of Ps. in constant Currency as of June 30, 2021) | 1H21 | 1H20 | % Ch. | 2Q21 | 1Q21 | 2Q20 | QoQ | YoY |
| Total Revenues | 180,018 | 196,999 | (8.6%) | 88,430 | 91,588 | 97,664 | (3.4%) | (9.5%) |
| EBITDA (1) | 61,113 | 71,666 | (14.7%) | 27,846 | 33,267 | 36,919 | (16.3%) | (24.6%) |
| EBITDA Margin (2) | 33.9% | 36.4% | (6.7%) | 31.5% | 36.3% | 37.8% | (13.3%) | (16.7%) |
| Net income | (1,883) | 3,246 | (158.0%) | (11,818) | 9,936 | (1,145) | (218.9%) | 931.8% |
| Attributable to: | ||||||||
| Equity Shareholders | (990) | 1,320 | (175.0%) | (4,722) | 3,732 | (460) | (226.5%) | 926.7% |
| Non-Controlling Interests | (893) | 1,926 | (146.4%) | (7,096) | 6,203 | (685) | (214.4%) | 935.2% |
(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
(BCBA:CVH)(LSE:CVH)
cordially invites you to participate in its Webcast Presentation
to discuss First Half and Second Quarter 2021 Results
Date: Thursday, August 12, 2021
Time: 2:00pm Buenos Aires Time/1:00pm New York Time/6:00pm London
The 1H21 and 2Q21 results will be presented via webcast presentation. To access the live stream and slide presentation, visit:
https://services.choruscall.com/links/cvhsy210812mu2PnrIY.html
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 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:
Cablevisión Holding S.A
Samantha Olivieri, Head of Investor Relations
Valentina López, Sr. Investor Relations Analyst
Tel: (+54 11) 4309 7104
Email: ir@cvh.com.ar
www.cvh.com.ar
In New York:
Fig Corporate Communications
Camilla Ferreira | Marcella Ewerton
Tel: +1 917 691 4047
Email: fig@fig.ooo
SOURCE: Cablevision Holding S.A.
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