ABS-CBN H1 2015 net income jumps 20%, GMA-7 up by 89%

MANILA, Philippines - The country's leading media and entertainment companies ABS-CBN Corporation and GMA Network, Inc (GMA) reported jump in net income for the first half of 2015. Both broadcast giants also claim leadership in national TV ratings.

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ABS-CBN reports 20-percent increase in net income to PHP 1.2 Billion

In a statement on Wednesday night, ABS-CBN announced PHP17.7 billion consolidated revenues for the first half of the year, bringing its net income to PHP1.2 billion, 20% higher compared to the same period last year. The company reported higher second quarter revenues of PHP9.3 billion, 11% higher than the revenues generated during the first quarter of this year.

“Our performance during the first half was well within our expectations,” said Aldrin M. Cerrado, the company’s Chief Financial Officer. “We disclosed a guidance of PHP2.4 billion for 2015 and we are about half way there.”

He added that Channel 2 has extended its dominance in terms of national audience shares and ratings with a 52% national audience share at end of June 2015.

According to Kantar Media, the top ten programs for the first half in 2015 for free-to-air television were all produced by ABS-CBN. The company will further boost its audience share once it improves the reception of channel 2 in the Mega Manila area and Central Luzon.

Star Cinema also turned in a very good performance at the box office with PHP1.4 billion in ticket sales generated from the release of 8 movies.

“Consistent with our push towards growing our broadband business, Sky’s broadband subscriber growth has been very strong, increasing by 30% to over 115,000, while our Global business now reaches around 3 million of our fellow Kapamilya overseas,” Cerrado said.

There were also significant margin expansion in the company’s TV and Studio Operations, with our net income margin and EBITDA margin for the segment improving from 11% to 15% and 25% to 27%, respectively.

The company reported that its production costs were lower by 2.3% compared to the same period last year, while total assets rose to PHP68.9 billion as of the end of June 2015 from PHP67.2 billion as of end last year. Its equity base remained flat at PHP26.9 billion as of the end of June 2015 and December 2014.

GMA Network hits P1.099 billion net income for First Half of 2015

Broadcast giant GMA Network, Inc. (GMA) reported a net income of P1.099 billion for the first half of 2015, up 89 percent over the same period last year.

Revenues during the six-month period increased by 15 percent to P6.653 billion, boosted by the Network’s record-breaking performance in the second quarter.

The company’s second-quarter top-line climbed 25 percent to P3.647 billion, while net income soared by a remarkable 170 percent to P690.7 million mainly on higher advertising revenues.

“In the first semester alone, we have not only breached the one billion-peso mark in terms of net income but have also exceeded last year’s full year bottom-line performance by at least P89 million. We are optimistic that the rest of 2015 will also bring positive results for our company,” said GMA Chairman and CEO Felipe L. Gozon.

Operating expenses from January to June slightly grew by 3% to P5.051 billion as total production cost and general and administrative expenses (GAEX) increased by 4 percent and 1 percent, respectively, year-on-year.

EBITDA (earnings before interest, taxes, depreciation, and amortization) settled at P2.410 billion, 54 percent higher compared to the previous year.

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