Welcome!

News Feed Item

Clear Media Announces Annual Results For the Year Ended 31 December 2013

-- Achieved Good Growth in Free Cash Flow

-- Bus shelter advertising revenue increased by 8.2% to HK$1,647 million

-- EBITDA increased by 7.0% to HK$662 million

-- EBIT increased by 11.3% to HK$348 million

-- A withholding tax provision of HK27 million for future distribution of profits from the Group's PRC subsidiary was made. Net profit decreased by 8.3% to HK$201 million

-- Free cash flow increased by 23.1% to HK$342 million

-- The Directors proposed a final dividend of HK15 cents per share (2012: HK15 cents)

HONG KONG, Jan. 28, 2014 /PRNewswire/ -- Clear Media Limited ("Clear Media" or the "Company", together with its subsidiaries, the "Group"; SEHK Stock Code: 100), the leading outdoor advertising company in China listed on The Stock Exchange of Hong Kong, is pleased to announce its annual results for the year ended 31 December 2013.

The Group's total turnover increased by 8.2% to HK$1,647 million for the year ended 31 December 2013. The Group's earnings before interest, tax, depreciation and amortisation ("EBITDA") increased by 7% to HK$662 million (2012: HK$619 million). Earnings before interest and tax ("EBIT") increased by 11.3% to HK$348 million (2012: HK$312 million). Net profit for the period decreased by 8.3% to HK$201 million (2012: HK$219 million) due to a withholding tax provision of HK$27 million for future distribution of profits from the Group's PRC subsidiary. Free cash flow increased by 23.1% to HK$342 million. Basic earnings per share for the year ended 31 December 2013 were HK37.81 cents, dropped by 8.8% from the same period last year. The Directors proposed a final dividend of HK15 cents per share (2012: HK 15 cents).

As of 31 December 2013, Clear Media operated the most extensive standardized bus shelter advertising network in Mainland China, with a total of more than 38,000 panels (2012: 37,000 panels) covering 27 cities. Revenue from the bus shelter advertising business increased by 8.2% to HK$1,647 million (2012: HK$1,552 million). The adjustment to the Group's 2013 advertising rate card was relatively modest when compared with that of the same time last year. The average selling price ("ASP") increased by 3.6% (2012: 14%) for the year. The overall occupancy rate recovered mildly to 61% (2012: 59%).

For the year ended 31 December 2013, revenue from the Group's bus shelter advertising operations in the key cities of Guangzhou, Shanghai and Beijing increased by 7.8% to HK$929 million (2012: HK$862 million). Among these three cities, the revenue performance was led by the operation in Guangzhou, followed by Shanghai and Beijing.

Revenue from Guangzhou increased by 31.1% for the year to HK$314 million (2012: HK$240 million), mainly due to a 13.7% increase in ASP, a 2.6% increase in average panel numbers and the higher occupancy rate at 56% (2012: 50%).

Revenue from Shanghai increased 8.2% to HK$210 million (2012: HK$194 million). The average number of bus shelter panels rose by 5.7%. The ASP declined by 4.4% due to change of customer mix and the occupancy rate improved to 54% (2012:51%).

Revenue from Beijing declined by 5.4% for the year ended 31 December 2013 to HK$405 million (2012: HK$428 million), mainly due to a 3% decline in ASP and the decline in the occupancy rate to 63% (2012: 65%). The average number of bus shelter panels increased by 1.3%.

Revenue from all mid-tier cities, where the Group has operations in, increased by 15.3% to HK$770 million (2012: HK$668 million) for the year ended 31 December 2013. ASP increased by 6.6% and the occupancy rate increased to 62% (2012: 61%). The average number of bus shelter panels increased by 6.1%.

Mr. Han Zi Jing, the Chief Executive Officer said, "We operated the most extensive standardized bus shelter advertising network in Mainland China. In 2013, the subsidiary of the Group, Hainan White Horse Advertising Media Investment Co., Ltd, secured the concession rights to develop, manage and sell advertising panels located at bus shelters in the city of Nanjing, for a period of 10 years commencing 2014. The Group currently operates in the city more than 1,300 bus shelter advertising panels and be able to significantly expand the number of panels in the city, an achievement that enhance our leading position in the outdoor advertising market in China."

Mr. Mark Thewlis, the Executive Chairman said, "Management expects the current trading conditions to continue for our core bus shelter advertising business in 2014. We expect growth from the Tier 2 and Tier 3 cities to continue to outperform the big 3 cities. We anticipate that advertisers will continue to prefer to commit as late as possible. In 2014 we plan to add our first commercial digital panels aimed at attracting new advertisers and providing our existing advertisers with a new flexible network to reach audiences in China's most popular cities."

Financial Highlights



Income Statement Highlights for the year ended 31 December

(HK$'000)

2013

2012

% Change

Turnover

1,647,455

1,522,036

+8.2%

EBITDA

662,317

619,245

+7.0%

Net profit

201,008

219,236

- 8.3%

Free cash flow

341,535

277,528

+23.1%

Basic EPS (HK cents)

37.81

41.44

- 8.8%

Dividend per share (HK cents)

15

15

0.0%


Balance Sheet Highlights

(HK$'000)

31 December 2013

31 December 2012

Cash and cash equivalents

892,822

1,289,724

Net assets

2,884,724

3,377,428




About Clear Media Limited

Clear Media is the leading outdoor media company in China listed on the main board of The Stock Exchange of Hong Kong, and derives 100% of its revenue from China. Clear Media has created a standardized bus shelter network that covers 27 cities and reaches the most affluent consumers in China. The Group enjoys leading market shares in key cities and serves leading international and local advertisers.

For more information on Clear Media please visit: www.clear-media.net.

For further information:

Clear Media Limited
Mr. Jeffrey Yip
Director of Investor Relations, Company Secretary
Tel: 2235 3977
Fax: 2235 3911
Email: [email protected]

iPR Ogilvy & Mather
Natalie Tam/ Peter Chan / Clara Liu/ Venus Wong
Tel: 2136 6182/ 2136 6955/ 3920 7631/ 3920 7649
Fax: 3170 6606
Email: [email protected]

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abilit...
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. Commvault can ensure protection, access and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his general session at 18th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Part...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
In IT, we sometimes coin terms for things before we know exactly what they are and how they’ll be used. The resulting terms may capture a common set of aspirations and goals – as “cloud” did broadly for on-demand, self-service, and flexible computing. But such a term can also lump together diverse and even competing practices, technologies, and priorities to the point where important distinctions are glossed over and lost.
When shopping for a new data processing platform for IoT solutions, many development teams want to be able to test-drive options before making a choice. Yet when evaluating an IoT solution, it’s simply not feasible to do so at scale with physical devices. Building a sensor simulator is the next best choice; however, generating a realistic simulation at very high TPS with ease of configurability is a formidable challenge. When dealing with multiple application or transport protocols, you would be...
Detecting internal user threats in the Big Data eco-system is challenging and cumbersome. Many organizations monitor internal usage of the Big Data eco-system using a set of alerts. This is not a scalable process given the increase in the number of alerts with the accelerating growth in data volume and user base. Organizations are increasingly leveraging machine learning to monitor only those data elements that are sensitive and critical, autonomously establish monitoring policies, and to detect...
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessio...
Dion Hinchcliffe is an internationally recognized digital expert, bestselling book author, frequent keynote speaker, analyst, futurist, and transformation expert based in Washington, DC. He is currently Chief Strategy Officer at the industry-leading digital strategy and online community solutions firm, 7Summits.
In his session at 20th Cloud Expo, Scott Davis, CTO of Embotics, discussed how automation can provide the dynamic management required to cost-effectively deliver microservices and container solutions at scale. He also discussed how flexible automation is the key to effectively bridging and seamlessly coordinating both IT and developer needs for component orchestration across disparate clouds – an increasingly important requirement at today’s multi-cloud enterprise.
In his session at @DevOpsSummit at 20th Cloud Expo, Kelly Looney, director of DevOps consulting for Skytap, showed how an incremental approach to introducing containers into complex, distributed applications results in modernization with less risk and more reward. He also shared the story of how Skytap used Docker to get out of the business of managing infrastructure, and into the business of delivering innovation and business value. Attendees learned how up-front planning allows for a clean sep...
In his session at @ThingsExpo, Arvind Radhakrishnen discussed how IoT offers new business models in banking and financial services organizations with the capability to revolutionize products, payments, channels, business processes and asset management built on strong architectural foundation. The following topics were covered: How IoT stands to impact various business parameters including customer experience, cost and risk management within BFS organizations.
In his session at 20th Cloud Expo, Brad Winett, Senior Technologist for DDN Storage, will present several current, end-user environments that are using object storage at scale for cloud deployments including private cloud and cloud providers. Details on the top considerations of features and functions for selecting object storage will be included. Brad will also touch on recent developments in tiering technologies that deliver single solution and an end-user view of data across files and objects...
Given the popularity of the containers, further investment in the telco/cable industry is needed to transition existing VM-based solutions to containerized cloud native deployments. The networking architecture of the solution isolates the network traffic into different network planes (e.g., management, control, and media). This naturally makes support for multiple interfaces in container orchestration engines an indispensable requirement.
Businesses and business units of all sizes can benefit from cloud computing, but many don't want the cost, performance and security concerns of public cloud nor the complexity of building their own private clouds. Today, some cloud vendors are using artificial intelligence (AI) to simplify cloud deployment and management. In his session at 20th Cloud Expo, Ajay Gulati, Co-founder and CEO of ZeroStack, discussed how AI can simplify cloud operations. He covered the following topics: why cloud mana...
"I will be talking about ChatOps and ChatOps as a way to solve some problems in the DevOps space," explained Himanshu Chhetri, CTO of Addteq, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.