TVN Reports Q1 Loss

By FNE Staff
WARSAW: Despite a 6.5% revenue increase, Polish commercial broadcaster TVN (www.tvn.pl) recorded a loss of EUR 10 million for the first quarter of 2011, compared with profit of EUR 16 million for Q1 2010. The company attributed the difference to foreign exchange gains in 2010. The company released its first quarter report on 12 May 2011.

Operating profits increased from EUR 138 million in Q1 2010 to EUR 146 million inQ1 2011.

While the Polish advertising market was up 1.8% for Q1, TVN's share of the ad market fell from 33.6% to 32.4%.

The company recorded increases in audience share for TVN24 and 'n' DTH platform, with an additional 25,000 subscribers for a total of 830,000, with average monthly revenue per subscriber up by PLN 3, or approximate EUR 0.75.

TVN stock fell 3.5% within two hours of the release of the report, leveling off at PLN 16.75 by the end of trading on 12 May.