TVA Group reports $9.0 million net income attributable to shareholders in Q4 2018

"The various rationalization plans implemented in recent quarters enabled the Magazines segment to grow its adjusted EBITDA¹ and post a 15.1% profit margin. We are pressing ahead with our efforts to offset the drop in revenues by cutting costs and increasing operating efficiencies, while continuing to offer the rich and varied content that sustains the popularity of our brands. Once again, we are pleased to report that TVA held its position as the top publisher of French‑language magazines in Quebec with more than 3.7 million² readers,while our English‑language titles are read by more than 5.9 million² people," added Ms Lauzière.

"Lastly, the Film Production & Audiovisual Services segment's financial results improved in the fourth quarter of 2018, mainly because of the use of our soundstages and equipment by local and international producers, as well as additional volume from our acquisitions. MELS remains a growth driver for the Corporation and our rental and postproduction services are increasingly recognized and in demand," Ms. Lauzière concluded.

2018 financial year results

For the fiscal year ended December 31, 2018, the Corporation's consolidated adjusted EBITDA¹ was $50,383,000, compared with $66,381,000 in the previous year, a 24.1% decrease. There was a 34.9% unfavourable variance in adjusted EBITDA¹ in the Broadcasting & Production segment and an 18.1% decrease in the Magazines segment, due mainly to lower advertising revenues in both segments. The Film Production & Audiovisual Services segment grew its adjusted EBITDA¹ by 3.1%, mainly as a result of higher volume of activities and the increased profitability of soundstage and equipment rental and postproduction, which was partially offset by lower volume of activities in visual effects. The $14,632,000 unfavourable variance in the Broadcasting & Production segment's adjusted EBITDA¹ was caused mainly by a 33.4% decrease in TVA Network's adjusted EBITDA,¹ as well as a 24.9% increase in the "TVA Sports" channel's negative adjusted EBITDA,¹ partially offset by an 8.0% increase in the adjusted EBITDA¹ of the other specialty channels.

Consolidated operating revenues amounted to $551,910,000 in fiscal 2018 compared with $589,707,000 in the previous year, a 6.4% decrease. The Corporation recorded net income attributable to shareholders in the amount of $8,312,000, for earnings per share of $0.19, compared with a net loss attributable to shareholders of $15,951,000 for a loss of $0.37 per share in 2017.

In the third quarter of 2017, the Corporation had recognized a $29,993,000 non‑cash goodwill impairment charge in the Magazines segment, including $1,489,000 without any tax consequences, and a $12,412,000 non‑cash charge for impairment of intangible assets, including $3,103,000 without any tax consequences.

Definition

¹ Adjusted EBITDA (previously adjusted operating income (loss))

In its analysis of operating results, the Corporation defines adjusted EBITDA as net income (loss) before depreciation of property, plant and equipment, amortization of intangible assets, financial expenses, operational restructuring costs and others, impairment of goodwill and intangible assets, income taxes and share of income of associated corporations. Adjusted EBITDA as defined above is not a measure of results that is consistent with International Financial Reporting Standards ("IFRS"). Neither is it intended to be regarded as an alternative to other financial performance measures or to the statement of cash flows as a measure of liquidity. This measure should not be considered in isolation or as a substitute for other performance measures prepared in accordance with IFRS. This measure is used by management and the Board of Directors to evaluate the Corporation's consolidated results and the results of its segments. This measure eliminates the significant level of impairment, depreciation and amortization of tangible and intangible assets and is unaffected by the capital structure or investment activities of the Corporation and its segments. Adjusted EBITDA is also relevant because it is a significant component of the Corporation's annual incentive compensation programs. The Corporation's definition of adjusted EBITDA may not be identical to similarly titled measures reported by other companies.

_____________________
¹ See definition of adjusted EBITDA above.
² Source: Vividata, Winter 2019, Total Canada, 14+, October 1, 2017 to September 30, 2018.

Conference call for investors

TVA Group will hold a conference call to discuss its fourth quarter and full‑year 2018 results on March 1, 2019, at 10:00 a.m. EAST. There will be a question period reserved for financial analysts. To access the call, please dial 1‑877‑293‑8052, access code for participants 66581#. A tape recording of the call will be available from March 1 to April 1, 2019 by dialling 1‑877‑293‑8133, conference number 1242598#, access code for participants 66581#.

Forward‑looking information disclaimer

The statements in this news release that are not historical facts may be forward‑looking statements and are subject to important known and unknown risks, uncertainties and assumptions which could cause the Corporation's actual results for future periods to differ materially from those set forth in the forward‑looking statements. Forward‑looking statements generally can be identified by the use of the conditional, the use of forward‑looking terminology such as "propose," "will," "expect," "may," "anticipate," "intend," "estimate," "plan," "foresee," "believe" or the negative of these terms or variations of them or similar terminology. Certain factors that may cause actual results to differ from current expectations include seasonality, operational risks (including pricing actions by competitors and the risk of loss of key customers in the Film Production & Audiovisual Services segment), programming, content and production cost risks, credit risk, government regulation risks, government assistance risks, changes in economic conditions, fragmentation of the media landscape, risk related to the Corporation's ability to adapt to fast‑paced technological change and to new delivery and storage methods, and labour relation risks.

Investors and others are cautioned that the foregoing list of factors that may affect future results is not exhaustive and that undue reliance should not be placed on any forward‑looking statements. For more information on the risks, uncertainties and assumptions that could cause the Corporation's actual results to differ from current expectations, please refer to the Corporation's public filings, available at www.sedar.com and www.groupetva.ca, including in particular the "Risks and Uncertainties" section of the Corporation's annual Management's Discussion and Analysis for the year ended December 31, 2018 and the "Risk Factors" section in the Corporation's 2018 annual information form.

The forward‑looking statements in this news release reflect the Corporation's expectations as of February 28, 2019 and are subject to change after this date. The Corporation expressly disclaims any obligation or intention to update or revise any forward‑looking statements, whether as a result of new information, future events or otherwise, unless required to do so by the applicable securities laws.

TVA Group

TVA Group Inc., a subsidiary of Quebecor Media Inc., is a communications company engaged in the broadcasting, film and audiovisual production, and magazine publishing industries. TVA Group Inc. is North America's largest broadcaster of French‑language entertainment, information and public affairs programming and one of the largest private‑sector producers of French‑language content. It is also the largest publisher of French‑language magazines and publishes some of the most popular English‑language titles in Canada. The Corporation's Class B shares are listed on the Toronto Stock Exchange under the ticker symbol TVA.B. 

The audited consolidated financial statements, with notes, and the annual Management's Discussion and Analysis, can be consulted on the Corporation's website at www.groupetva.ca

TVA GROUP INC.
Consolidated statements of income (loss)
(unaudited)
(in thousands of Canadian dollars, except per‑share amounts)
		Three-month periods ended December 31			Years ended December 31
		2018		2017		2018		2017
Revenues	$	150,466	$	155,256	$	551,910	$	589,707
Purchases of goods and services		89,429		96,968		357,171		373,404
Employee costs		36,013		35,320		144,356		149,922
Depreciation of property, plant and equipment and amortization of intangible assets		9,833		8,365		35,542		34,874
Financial expenses		610		480		2,477		2,449
Operational restructuring costs and others		2,276		1,408		2,433		6,390
Impairment of goodwill and intangible assets		−		−		−		42,405
Income (loss) before tax expense (recovery) and share of income of associated corporations		12,305		12,715		9,931		(19,737)
Tax expense (recovery)		3,307		3,493		2,467		(3,631)
Share of income of associated corporations		(74)		(117)		(684)		(445)
Net income (loss)	$	9,072	$	9,339 Werbung Mehr Nachrichten zur TVA GROUP INC., CL.B, NV Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 10:07 - PR Newswire Norges Bank - Form 8.3 - Anglo American plc 09:07 - PR Newswire Norges Bank - Form 8.3 - BHP Group Limited 02:00 - PR Newswire abrdn Property Income Trust Limited - Annual Results - December 2023 Saubere Energie    Milliardärsinvestoren sehen enorme Chancen in der alternativen Energie der nächsten Generation weiterlesen» Anzeige wo-site-teaser-box-16797_site-teaser-box_2024-04-30_07%253A00%253A00_2024-05-01_09%253A00%253A59