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CTC Media – CTCM – Revenues up 12% YOY; Declared a dividend of $0.13 per share

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CTC Media, Inc. (NASDAQ: CTCM), Russia’s leading independent media company, announced its unaudited consolidated financial results for the third quarter ended September 30, 2012.

CTCM – Third Quarter Financial Highlights

  • Total revenues of $162.0 million – up 12% year-on-year in ruble terms
  • Russian advertising revenues up 11% year-on-year in ruble terms
  • Adjusted OIBDA of $43.4 million with an adjusted OIBDA margin of 26.8%
  • Adjusted fully diluted earnings per share of $0.17 (Q3 2011: $0.19)
  • Net cash position of $96.4 million at the end of the period
  • The Board of Directors has declared a cash dividend of $0.13 per share to be paid on or about December 28, 2012 to shareholders of record as of December 1, 2012.

CTCM – Operating Highlights

  • Nikolay Surikov appointed as CFO in October
  • Natalia Bilan appointed as Head of Story First Production, Natalia Korotkova appointed as Head of Domashny Channel and Konstantin Khachaturov appointed as Chief Business Support Officer in October
  • Combined Russian national inventory fully sold-out for Q3 and approximately 95% sold-out for the full year
  • New logo and on-air identity of CTC Channel launched in September
  • CTC Media content made available on Sony Entertainment Network in September
  • Multi-year programming deal signed between Channel 31 in Kazakhstan and Warner Bros. in August

Boris Podolsky, Chief Executive Officer of CTC Media, commented: “Our total operating revenues were up 12% in ruble terms in the third quarter of 2012, while our Russian advertising sales grew by 11% and in line with the growth in Russian TV advertising spending. While the market growth was higher in the third quarter than in the first half of the year, for the full year we continue to expect up to 10% growth in the TV advertising spending in ruble terms.

“Our third quarter results were impacted by non-cash impairment charges related to our analog broadcasting licenses, which were triggered by recent official announcements of the terms of a tender for a second digital multiplex and the planned schedule for the switch-off of the analog broadcasting system, but our underlying profitability remains strong. We delivered a solid adjusted OIBDA margin of 26.8% in the third quarter and we continue to expect OIBDA margin at or around 30% for the full year, when adjusted for non-recurring asset impairment charges recognized in the quarter.

CTCM – Dividends

The CTC Media Board of Directors has declared a dividend of $0.13 per share payable in the fourth quarter, or approximately $20.6 million in total, which will be paid on or about December 28, 2012 to shareholders of record as at December 1, 2012. Thus, the total dividend payments in 2012 will be approximately $80 million, as previously anticipated.

About CTC Media, Inc. – CTCM

CTC Media (CTCM) is a leading independent media company in Russia, with operations throughout Russia and in a number of other CIS markets. It operates three free-to-air television networks in Russia – CTC, Domashny and Peretz – as well as Channel 31 in Kazakhstan and a TV company in Moldova, with a combined potential audience of over 150 million people. The international pay-TV version of the CTC channel is available in North America, Europe, North Africa, the Middle East, Central and South East Asia. CTCM also has its own TV content production capabilities through its Story First Production subsidiary.

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edliston
Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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