Cablevisión Holding Announces First Half and Second Quarter 2024 Results by Investing.com

BUENOS AIRES, ARGENTINA / ACCESSWIRE / August 12, 2024 / Cablevisión Holding SA, (“Cablevision (NYSE:) Holding”, “CVH” or “the Company”) – (BCBA:CVH) (Level 1: CVHSY), controlling shareholder of Telecommunications Argentina (NYSE:) SA (NYSE: TEO, BCBA: TECO2), today announced its first half and second quarter 2024 results. Figures have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are expressed in constant Argentine pesos (“Ps.” or “P$”) as of June 30, 2024, unless otherwise indicated.

The company’s management has applied IAS 29 (adjustment for inflation) in the preparation of these financial statements, following the provisions of Resolution 777/18, issued by the Comisión Nacional de Valores (“CNV”).

CVH Highlights (1H24 vs. 1H23):

• Total revenues reached P1,666,979 million, down 13.3% in real terms in the first half of 2024 compared to the same period of 2023, in a context where the price increases of our services in 2023 and the first half of 2024 were not sufficient to compensate for the delay with respect to inflation (271.5% on an inter-annual basis in June 2024).

• Total costs (excluding depreciation and amortization) reached P1,172,951 million, down 14.9% at constant currency, driven by lower costs across all items.

• EBITDA reached Ps. 494,028 million in H1 ’24, down 9.1% in real terms compared to H1 ’23, mainly due to lower revenues, partially offset by lower operating costs, resulting in an EBITDA margin of 29.6% in H1 ’24, compared to 28.3% in H1 ’23.

• Consolidated net profit amounted to Ps. 856,045 million. Consolidated net profit attributable to parent company amounted to Ps. 329,661 million.

MAIN FINANCIAL DATA

⁽¹⁾ EBITDA is defined as Total Revenues less Operating Costs and Expenses (excluding depreciation and amortization). We believe that EBITDA is a meaningful measure of our performance. It is commonly used to analyze and compare media companies based on operating performance, leverage and liquidity. However, EBITDA is not a measure of net income or cash flow from operations and should not be considered as an alternative to net income, an indication of our financial performance, an alternative to cash flow from operating activities or a measure of liquidity. Other companies may calculate EBITDA differently; therefore, EBITDA reported by other companies may not be comparable to EBITDA as we report it.

⁽²⁾ EBITDA margin is defined as EBITDA over total revenue.

INFORMATION ABOUT THE CONFERENCE CALL AND WEBCAST

CABLEVISION HOLDING SA
(BCBA: CVH / OTC: CVHSY)
cordially invites you to participate in his presentation in Webcast
to discuss the results of the first half and second quarter of 2024

Date: Thursday, August 14, 2024
Time: 12.30pm Buenos Aires / 11.30am New York / 4.30pm London

To access the live stream and slide presentation, visit: https://event.choruscall.com/mediaframe/webcast.html?webcastid=sHFfjdM4

The webcast presentation will also be available at: https://www.cablevisionholding.com/Investors

ABOUT THE COMPANY

CVH was founded as a corporate spin-off of Grupo Clarín SA and is the first Argentine holding company dedicated to the development of infrastructure and the provision of convergent telecommunications services, focusing on Argentina and the region. CVH subsidiaries specialize in the provision of cable TV, broadband and mobile communications services; and their brands are well known in the telecommunications and content distribution sectors.

Disclaimer

Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of CVH. You can identify forward-looking statements by words such as “expect,” “believe,” “anticipate,” “estimate,” “intend,” “will,” “could,” “might,” or the negative of these words or other similar expressions. These statements are only predictions and actual events or results could differ materially. CVH does not intend to and does not assume any obligation to update these statements to reflect events and circumstances that occur after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause actual results to differ materially from those in CVH’s projections or forward-looking statements, including, among others, general economic conditions, CVH’s competitive environment, risks associated with operations in Argentina, rapid technological and market changes and other factors specific to CVH and its operations.

SOURCE: Cablevision SA joint stock company

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