|By PR Newswire||
|January 28, 2014 10:43 AM EST||
-- 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."
Income Statement Highlights for the year ended 31 December
Free cash flow
Basic EPS (HK cents)
Dividend per share (HK cents)
Balance Sheet Highlights
31 December 2013
31 December 2012
Cash and cash equivalents
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
iPR Ogilvy & Mather
Natalie Tam/ Peter Chan / Clara Liu/ Venus Wong
Tel: 2136 6182/ 2136 6955/ 3920 7631/ 3920 7649
Fax: 3170 6606
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
Feb. 26, 2017 11:15 PM EST Reads: 8,737
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
Feb. 26, 2017 10:00 PM EST Reads: 13,678
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.
Feb. 26, 2017 09:15 PM EST Reads: 2,412
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Feb. 26, 2017 09:00 PM EST Reads: 8,970
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Feb. 26, 2017 08:45 PM EST Reads: 1,999
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Feb. 26, 2017 08:45 PM EST Reads: 5,151
WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...
Feb. 26, 2017 08:30 PM EST Reads: 7,175
SYS-CON Events announced today that Hitrons Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
Feb. 26, 2017 08:30 PM EST Reads: 705
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Feb. 26, 2017 07:45 PM EST Reads: 2,068
In his session at 20th Cloud Expo, Chris Carter, CEO of Approyo, will discuss the basic set up and solution for an SAP solution in the cloud and what it means to the viability of your company. Chris Carter is CEO of Approyo. He works with business around the globe, to assist them in their journey to the usage of Big Data in the forms of Hadoop (Cloudera and Hortonwork's) and SAP HANA. At Approyo, we support firms who are looking for knowledge to grow through current business process, where even ...
Feb. 26, 2017 07:30 PM EST Reads: 1,159
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
Feb. 26, 2017 06:45 PM EST Reads: 2,368
Addteq is one of the top 10 Platinum Atlassian Experts who specialize in DevOps, custom and continuous integration, automation, plugin development, and consulting for midsize and global firms. Addteq firmly believes that automation is essential for successful software releases. Addteq centers its products and services around this fundamentally unique approach to delivering complete software release management solutions. With a combination of Addteq's services and our extensive list of partners,...
Feb. 26, 2017 06:00 PM EST Reads: 953
In 2014, Amazon announced a new form of compute called Lambda. We didn't know it at the time, but this represented a fundamental shift in what we expect from cloud computing. Now, all of the major cloud computing vendors want to take part in this disruptive technology. In his session at 20th Cloud Expo, John Jelinek IV, a web developer at Linux Academy, will discuss why major players like AWS, Microsoft Azure, IBM Bluemix, and Google Cloud Platform are all trying to sidestep VMs and containers...
Feb. 26, 2017 05:30 PM EST Reads: 2,186
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
Feb. 26, 2017 05:30 PM EST Reads: 2,004
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
Feb. 26, 2017 05:15 PM EST Reads: 1,923