HAMILTON, Bermuda: Central European Media Enterprises Ltd. (CME) announced that net revenues rose nine percent in actual rates (six percent in constant rates) to USD 574.2 m in 2017.
Advertising revenues increased by eight percent (five percent in constant rates), and carriage fees and subscription revenues increased by 17 percent (15 percent in constant rates) for the year.
Fourth quarter 2017 saw net revenues increase by 15 percent in actual rates, and 5 percent in constant rates, at USD 196.2 m.
CME trades on the NASDAQ and Prague Stock Exchange as CETV.
The company previously announced an agreement to see its Croatian and Slovenian operations.
Michael Del Nin, co-Chief Executive Officer, said in a statement: "Our 2017 results represent our fourth straight year of both uninterrupted margin expansion and actual OIBDA growth above 20%. We anticipate that revenue growth, combined with our ongoing focus on cost containment, will drive another year of robust growth in profitability and continued margin expansion in 2018."
Christoph Mainusch, co-Chief Executive Officer, said: "2017 was another outstanding year for CME and the positioning of our operations sets us up for additional success in 2018. We increased our audience share in three out of four countries, driving the gap between us and our closest commercial competition wider, both in prime time and all day."
CME operates 26 channels in the Czech Republic, Slovakia, Bulgaria and Romania.