Net losses saw even better results at (48.6) m USD for Q1 2014 compared with (109) m USD for Q1 2013, as did OBIDA at (2.3) m USD in 2014 compared to (20.8) m USD in 2013.

Revenues were higher in every CME territory except Slovenia, which showed a very small decline. Growth was strongest in the Czech Republic and Romania, CME's two biggest territories. Bulgaria was also relatively strong, which both Croatia and Slovakia had respectable growth.

The results are the first to fall completely under the management of CME's co-CEO's Christoph Mainusch and Michael Del Nin who replaced Adrian Sarbu in September 2013.

Speaking about the results, Del Nin said, "The first quarter of 2014 demonstrates tangible results from our operating priorities, including increases in television advertising revenue and carriage fees."