Cablevisión Holding Announces nine months and Third Quarter 2019 Results (9M19 and 3Q19)

BUENOS AIRES, ARGENTINA / ACCESSWIRE / November 11, 2019 / Cablevisión Holding S.A., (“Cablevision Holding”, “CVH” or “the Company”) (BCBA:CVH) (LSE:CVH; Level 1: CVHSY), controlling shareholder of Telecom Argentina S.A. (NYSE:TEO) (BCBA:TECO2), announced today its nine months and third quarter 2019 Results. Figures have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are stated in constant Argentine Pesos (“Ps.” or “P$”) as of September 30, 2019, unless otherwise indicated.

The Company’s Management has applied IAS 29 in the preparation of these financial statements (inflation adjustment) because Resolution 777/18, issued by the Comisión Nacional de Valores (“CNV”), establishes that the restatement will be applied to the annual financial statements.

CVH Highlights (9M19 vs. 9M18):

  • Total Revenues reached Ps. 159,699 million, a decrease of 10.2% in real terms as of September 30, 2019, compared to 9M18, mainly driven by lower mobile and cable services revenues.
  • Total Costs (Excluding Depreciation and Amortization) reached Ps. 106,749 million, a decrease of 8.0% in constant currency, mainly driven by lower labor costs, taxes and fees, commissions and advertising, cost of handsets sold and programing and content costs.
  • EBITDA reached Ps. 52,950 million, a decrease of 14.4% in real terms compared to 9M18, mainly driven by lower revenues. EBITDA Margin was 33.2% in 9M19, compared to 34.8% in 9M18.
  • Consolidated Net Income totaled a loss of Ps. (15,109) million. Consolidated Net Income attributable to the Controlling Company amounted to Ps. (7,477) million.


(millions of constant Currency as of September 30, 2019)
    9M19       9M18     % Ch.       3Q19       2Q19       3Q18     QoQ     YoY  
Total Revenues
    159,699       177,898       (10.2 %)     53,106       52,010       57,444       2.1 %     (7.6 %)
    52,950       61,836       (14.4 %)     17,306       17,887       18,839       (3.2 %)     (8.1 %)
EBITDA Margin (2)
    33.2 %     34.8 %     (1.6 %)     32.6 %     34.4 %     32.8 %     (1.8 %)     (0.2 %)
Income for the period
    (15,109 )     (18,429 )     (18.0 %)     (22,231 )     6,264       (18,210 )     (454.9 %)     (22.1 %)
Attributable to:
Equity Shareholders
    (7,477 )     (11,356 )     34.2 %     (9,921 )     2,657       (8,780 )     (473.4 %)     (13.0 %)
Non-Controlling Interests
    (7,632 )     (7,073 )     (7.9 %)     (12,310 )     3,606       (9,430 )     (441.3 %)     (30.5 %)

(1) EBITDA is defined as Total Revenues minus operating cost 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. Nonetheless, 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 compute EBITDA in a different manner; therefore, EBITDA as reported by other companies may not be comparable to EBITDA as we report it.
(2) EBITDA Margin is defined as EBITDA over Total Revenues.

For a full version of this earnings release with financial statements, go to:



cordially invites you to participate in its conference call and webcast presentation
to discuss Third Quarter 2019 Results

Date: Wednesday, November 13, 2019
Time: 12:00pm Buenos Aires Time/10:00am New York Time/3:00pm London

To access the conference call, please dial:
Argentina Participants: 0-800-666-0250
U.S. Participants: 1-877-830-2576
All other countries: +1-785-424-1726
Passcode: CVH

The 3Q19 results will be accompanied by a webcast presentation. To access the live stream and slide presentation, visit:

A replay of the conference call will be available four hours after its conclusion, and will remain available for 7 days. To access the replay, please dial from the within the U.S. 1-844-488-7474, or from anywhere outside the U.S. +1-862-902-0129. The passcode is: 85288137

The webcast presentation will be archived at:

About the Company

CVH was funded as corporate spinoff from Grupo Clarín S.A. and it is the first Argentine holding company that engages in the development of infrastructure and the provision of convergent telecommunications services, focusing on the country and the region. The companies, products and brands that depend on Cablevisión Holding are already big names in the telecommunications and content distribution industries. They specialize in the provision of cable TV, broadband and mobile communications services.

Investor Relations Contacts:

In Buenos Aires:
Cablevisión Holding S.A
Agustín Medina Manson, Head of Investor Relations
Valentina Lopez, Sr. Analyst
Tel: (+54 11) 4309 – 3417

In New York
i-advize Corporate Communications
Camilla Ferreira / Kenia Vargas
Tel: +1 212 406 3695 / 3696

SOURCE: Cablevision Holding S.A.

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