|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
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]
“We help people build clusters, in the classical sense of the cluster. We help people put a full stack on top of every single one of those machines. We do the full bare metal install," explained Greg Bruno, Vice President of Engineering and co-founder of StackIQ, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 19, 2014 03:00 AM EST Reads: 884
The cloud is becoming the de-facto way for enterprises to leverage common infrastructure while innovating and one of the biggest obstacles facing public cloud computing is security. In his session at 15th Cloud Expo, Jeff Aliber, a global marketing executive at Verizon, discussed how the best place for web security is in the cloud. Benefits include: Functions as the first layer of defense Easy operation –CNAME change Implement an integrated solution Best architecture for addressing network-l...
Dec. 19, 2014 02:00 AM EST Reads: 915
Leysin American School is an exclusive, private boarding school located in Leysin, Switzerland. Leysin selected an OpenStack-powered, private cloud as a service to manage multiple applications and provide development environments for students across the institution. Seeking to meet rigid data sovereignty and data integrity requirements while offering flexible, on-demand cloud resources to users, Leysin identified OpenStack as the clear choice to round out the school's cloud strategy. Additional...
Dec. 19, 2014 02:00 AM EST Reads: 1,848
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete...
Dec. 18, 2014 09:45 PM EST Reads: 883
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 18, 2014 08:00 PM EST Reads: 1,144
Mobile commerce traffic is surpassing desktop, yet less than 20% of sales in the U.S. are mobile commerce sales. In his session at 15th Cloud Expo, Dan Franklin, Segment Manager, Commerce, at Verizon Digital Media Services, defined mobile devices and discussed how next generation means simplification. It means taking your digital content and turning it into instantly gratifying experiences.
Dec. 18, 2014 12:00 PM EST Reads: 1,046
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 18, 2014 11:30 AM EST Reads: 925
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, p...
Dec. 18, 2014 11:00 AM EST Reads: 2,121
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com...
Dec. 18, 2014 10:30 AM EST Reads: 2,252
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature pre-built cloud-based services from AppDynamics, Hitachi Data Systems, Juniper Networks, PfSense and Tervela. Available globally to enterprises using Verizon Cloud, Verizon Cloud Marketplace provides a one-stop shop fo...
Dec. 18, 2014 10:30 AM EST Reads: 1,807
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
Dec. 18, 2014 10:15 AM EST Reads: 2,076
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...
Dec. 18, 2014 10:00 AM EST Reads: 1,892
ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ -- IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's
SYS-CON Media announced today that Aruna Ravichandran, VP of Marketing, Application Performance Management and DevOps at CA Technologies, has joined DevOps Journal’s authors. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Aruna's inaugural article "Four Essential Cultural Hacks for DevOps Newbies" discusses how to demonstrate the...
Dec. 18, 2014 10:00 AM EST Reads: 1,639
"Our premise is Docker is not enough. That's not a bad thing - we actually love Docker. At ActiveState all our products are based on open source technology and Docker is an up-and-coming piece of open source technology," explained Bart Copeland, President & CEO of ActiveState Software, in this SYS-CON.tv interview at DevOps Summit at Cloud Expo®, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 18, 2014 10:00 AM EST Reads: 1,837