BUENOS AIRES, ARGENTINA / ACCESSWIRE / August 12, 2024 / Cablevisión Holding SA, (“Cablevision Holding”, “CVH” or “the Company”) – (BCBA: CVH) (Level 1: CVHSY), majority shareholder of Telecom Argentina SA (NYSE: TEO, BCBA: TECO2), today announced its results for the first half and second quarter of 2024. The figures have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are expressed in constant Argentine pesos (“Ps.” or “P$”) as of June 30, 2024, unless otherwise noted.

Management has applied IAS 29 (Inflation Adjustment) in preparing these financial statements in accordance with the provisions of Resolution 777/18 of the Comisión Nacional de Valores (“CNV”).

CVH highlights (1H24 vs. 1H23):

• Total revenues amounted to P1,666,979 million, representing a decrease of 13.3% in real terms in H1 2024 compared to the same period in 2023, against the backdrop that the price increases for our services in 2023 and H1 2024 were not sufficient to offset the lag compared to inflation (271.5% year-on-year as of June 2024).

• Total expenses (excluding depreciation and amortization) amounted to P1,172,951 million, a decrease of 14.9% at constant exchange rates, due to lower costs of all items.

• EBITDA reached P494,028 million in H1 2024, down 9.1% in real terms compared to H1 2023, mainly due to lower revenues partially offset by lower operating expenses, resulting in an EBITDA margin of 29.6% in H1 2024, compared to 28.3% in H1 2023.

• Consolidated net income amounted to P856,045 million. Consolidated net income attributable to the parent company amounted to P329,661 million.

FINANCIAL HIGHLIGHTS

⁽¹⁾ EBITDA is defined as total revenues less operating costs and expenses (excluding depreciation and amortization). We believe EBITDA is a meaningful measure of our performance. It is often used to analyze and compare media companies based on operating performance, leverage and liquidity. Nevertheless, EBITDA is not a measure of net income or cash flow from operations and should not be considered as an alternative to net income, as an indication of our financial performance, as an alternative to cash flow from operations, or as a measure of liquidity. Other companies may calculate EBITDA in different ways; therefore, EBITDA reported by other companies may not be comparable to EBITDA reported by us.

^{(2 )} The EBITDA margin is defined as EBITDA in relation to total sales.

CONFERENCE CALL AND WEBCAST INFORMATION

CABLEVISION HOLDING SA
(BCBA: CVH / OTC: CVHSY)
cordially invites you to participate in the webcast presentation
to discuss the results of the first half and the second quarter of 2024

Date: Thursday, August 14, 2024
Time: 12:30 Buenos Aires / 11:30 New York / 16:30 London

To access the live stream and slide presentation, visit: https://event.choruscall.com/mediaframe/webcast.html?webcastid=sHFfjdM4

The webcast presentation is also available at: https://www.cablevisionholding.com/Investors

ABOUT THE COMPANY

CVH was created as a spin-off of Grupo Clarín SA and is the first Argentine holding company dedicated to the development of infrastructure and the provision of converged telecommunications services, focusing on Argentina and the region. CVH’s subsidiaries specialize in the provision of cable television, broadband and mobile services, and its 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 “may,” or the negative of these terms or other similar expressions. These statements are only predictions and actual events or results may differ materially. CVH does not intend, and undertakes no obligation, to update these statements to reflect events and circumstances that occur after the date of this press release or to reflect the occurrence of unanticipated events. Many factors could cause 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 related to operations in Argentina, rapid technological and market changes and other factors specific to CVH and its operations.

SOURCE: Cablevision Holding SA

View the original press release on accesswire.com.