PRAGUE: The television group Central European Media Enterprises reported a 3% rise in revenues at actual rates, or 4% at constant rates, to 123.5 M USD for the third quarter of 2018, ending 30 September. The nine-month results show a 12% rise in revenues at actual rates, or 3% at constant rates, to 422.3 M USD.
The Q3 increase was largest in the Czech Republic, at 5.8%, which also accounts for the largest portion of CME revenues for the period, at 45.5 M USD.
The results were driven both by advertising revenue and by carriage and subscription fees, both up by 12%.
CME completed the sale of its operations in Croatia, while the sale of its operations in Slovenia is still pending. The company has scaled back operations to just 4 countries, Bulgaria, Czech Republic, Romania and Slovakia, but has expanded its presence to 26 channels in that group of territories.
Michael Del Nin, Co-Chief Executive Officer, commented: "Almost any way you look at it, it's been a great quarter for the Company.”
Christoph Mainusch, Co-Chief Executive Officer, added: "We do this while focusing on more efficient spending, so with revenue improvement and lower costs, OIBDA nearly doubled in Slovakia and Bulgaria in the quarter.”