BUCHAREST (Romania), July 23 (SeeNews) – Central European Media Enterprises (CME) said on Tuesday that its operating income before depreciation and amortization (OIBDA) from business in Romania fell by 0.7% year-on-year at actual rates to $42.77 million (38 million euro) in the first half of 2019.
Net revenues from operations in Romania fell to $87.1 million in the first half, down by an annual 8.8%, the international broadcaster said in an interim financial report.
In the second quarter, OIBDA rose by 4.3% on the year to $25.2 million, while net revenues from operations in Romania fell by 2.5% to $48.36 million.
"The TV ad market in the Czech Republic saw its strongest first half of the year since 2015 and spending on advertising rebounded in Romania during the second quarter. Year-to-date, we have seen double digit growth in carriage fees and subscription revenues in three of our segment," CME co-CEO Christoph Mainusch said.
CME's portfolio in Romania comprises TV channels PRO TV, PRO 2, PRO X, PRO GOLD, PRO CINEMA, PRO TV International and PRO TV Chisinau.
CME's total OIBDA which includes operations in Bulgaria, the Czech Republic, Romania, Slovakia and Slovenia, rose by 15.8% year-on-year to $111.4 million in the first half of 2019, while total net revenues fell by 2.5% to $330.1 million.
($ = 0.8914 euro)