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
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, will discuss the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filte...
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies adopt disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevO...
Fortunately, meaningful and tangible business cases for IoT are plentiful in a broad array of industries and vertical markets. These range from simple warranty cost reduction for capital intensive assets, to minimizing downtime for vital business tools, to creating feedback loops improving product design, to improving and enhancing enterprise customer experiences. All of these business cases, which will be briefly explored in this session, hinge on cost effectively extracting relevant data from ...
SYS-CON Events announced today that VAI, a leading ERP software provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. VAI (Vormittag Associates, Inc.) is a leading independent mid-market ERP software developer renowned for its flexible solutions and ability to automate critical business functions for the distribution, manufacturing, specialty retail and service sectors. An IBM Premier Business Part...
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed...
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
In most cases, it is convenient to have some human interaction with a web (micro-)service, no matter how small it is. A traditional approach would be to create an HTTP interface, where user requests will be dispatched and HTML/CSS pages must be served. This approach is indeed very traditional for a web site, but not really convenient for a web service, which is not intended to be good looking, 24x7 up and running and UX-optimized. Instead, talking to a web service in a chat-bot mode would be muc...
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 ad...
Advances in technology and ubiquitous connectivity have made the utilization of a dispersed workforce more common. Whether that remote team is located across the street or country, management styles/ approaches will have to be adjusted to accommodate this new dynamic. In his session at 17th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., focused on the challenges of managing remote teams, providing real-world examples that demonstrate what works and what do...
As enterprises work to take advantage of Big Data technologies, they frequently become distracted by product-level decisions. In most new Big Data builds this approach is completely counter-productive: it presupposes tools that may not be a fit for development teams, forces IT to take on the burden of evaluating and maintaining unfamiliar technology, and represents a major up-front expense. In his session at @BigDataExpo at @ThingsExpo, Andrew Warfield, CTO and Co-Founder of Coho Data, will dis...
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
SYS-CON Events announced today that AppNeta, the leader in performance insight for business-critical web applications, will exhibit and present at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. AppNeta is the only application performance monitoring (APM) company to provide solutions for all applications – applications you develop internally, business-critical SaaS applications you use and the networks that deli...
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection.