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    CME increases 2019 OIBDA from Romanian operations by 2.3%

    CME increases 2019 OIBDA from Romanian operations by 2.3% TV, entertainment

    BUCHAREST (Romania), February 6 (SeeNews) – Central European Media Enterprises (CME) said on Thursday its operating income before depreciation and amortization (OIBDA) from business in Romania rose by 2.3% year-on-year at actual rates to $87.7 million (79.6 million euro) in 2019.

    Net revenues from operations in Romania fell by an annual 6.6% to $188.2 million in the period under review, the international broadcaster said in an annual financial statement.

    In the fourth quarter alone, OIBDA from operations in Romania rose by 3.6% on the year to $28 million, while net revenues fell by 5.3% to $61 million.

    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 11.3% year-on-year to $248 million in 2019, while total net revenues fell by 1.3% to $695 million.

    In October, Central European Media Enterprises entered into a definitive agreement to be acquired by an affiliate of Dutch-based PPF Group for some $2.1 billion (1.9 billion euro).

    ($ =0.9074 euro)

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