* Central European Media Enterprises Q4
* Wednesday, Feb 23, before market open
* Q4 revenue seen $242.9 mln, OIBDA $61.8 mln
PRAGUE, Feb 21 (Reuters) - Broadcaster CME <CETV.O>
<> is expected to post a 39 percent annual increase in
core profit in the fourth quarter, with results boosted by
acquisitions amid still adverse market conditions, a Reuters
poll showed on Monday.
Average estimate of 10 analysts saw operating profit before
depreciation and amortisation (OITDA) at $61.8 million, up from
44.4 million a year ago.
Average estimate for revenue at Central European Media
Enterprises was $242.9 million, up 3 percent compared to the
October-December period a year ago.
According to analysts predictions, CME should post full-year
OIBDA of $104.3 million on revenue of $722.6 million, within the
firm's target range of $100 million to $115 million for OIBDA
and $710 million to $725 million for revenue.
In the fourth quarter, which is traditionally the best for
TV broadcasters, CME results were burdened by declining audience
share in its key market in the Czech Republic, analysts said.
Weaker local currencies against the dollar over the period
and ailing advertising markets in Bulgaria and Romania also hurt
the firm, which operates in six countries in central and eastern
Europe.
Results at CME were helped by acquisitions and divestments
over the past year, including a $413 million takeover of
Bulgaria's bTV in April.
Last year CME, owned partly by Time Warner <TWX.N> and U.S.
investor Ronald Lauder, also bought a production company
MediaPro, originally owned by CEO Adrian Sarbu, and sold its
loss-making operations in Ukraine for $308 million.
The following is a summary of analysts' estimates for Q4 in
the Reuters poll in $ millions (figures in brackets mean a
negative result):
Q4/10 Average Median Range Q4/09*
Revenue 242.9 239.7 235.0 -258.5 234.4
OIBDA 61.8 61.9 57.7 - 68.9 44.4
Operating profit 34.3 39.5 (19.0)- 47.6 24.3
Net profit (loss) 5.4 12.0 (54.0)- 35.7 (55.3)
The following banks and equity houses took part in the poll:
BH Securities, Cyrrus, Erste Bank/Ceska Sporitelna, Janco
Partners, J&T Bank, KBC Securities, Komercni Banka, Nomura,
UniCredit Bank, Wood & Company.
* Please note that the results for Q4/09 were restated by
the company to adjust for the Ukraine divestment.
(Reporting by Jan Korselt; Editing by Hans Peters)
