* CME <CETV.O><> second-quarter 2008 results
* July 30 before 13:30 GMT
* Revenue estimated at $293.1 million on average
PRAGUE, July 28 (Reuters) - Television group Central
European Media Enterprises (CME) is expected to post a 35.5
percent jump in second-quarter revenue, benefiting from higher
advertisement spending and a weak dollar, a Reuters poll showed
on Monday.
Ten analysts gave an average estimate for revenue at $293.1
million, up from $216.3 million a year ago.
Segment EBITDA, or core profit excluding interest, tax,
depreciation, amortisation and some general corporate costs, was
seen 35.9 percent higher year-on-year at $118.1 million.
"We expect the company to continue growing from the top to
the bottom line...fuelled mainly by advertisement growth in the
key markets, the Czech Republic, Romania, and partly by the
weaker dollar," said analyst Radim Kramule of Erste Bank unit
Ceska Sporitelna.
The dollar, CME's reporting currency, has dropped sharply
against currencies in central and eastern Europe, where the
broadcaster operates.
On Monday, the greenback was 36 percent lower year-on-year
to the Czech crown <EURCZK=>. CME creates 38 percent of its
revenues and 53 percent of segment EBITDA in the Czech Republic,
while it also runs TV stations in Romania, Slovakia, Ukraine,
Croatia and Slovenia.
The Nasdaq and Prague-listed firm is expected to post a net
income of $51.5 million, up 49 percent year-on-year.
But analysts said financial costs and other one-off items
were hard to predict, and their net profit estimates stood in a
broad range from $16.3 to $71.8 million.
Following is a summary of analysts' expectations (figures in
$ million):
Q2/2008 Average Median Q2/07 Range
Revenue 293.1 293.3 216.3 266.0-323.3
Segment EBITDA 118.1 120.5 86.9 90.8-137.2
Oper. profit (EBIT) 92.3 94.9 66.6 63.8-106.2
Net profit 51.5 54.1 34.6 16.3- 71.8
The following banks and brokerages took part in the survey:
Atlantik FT, BH-Securities, Cyrrus, Erste Bank/Ceska Sporitelna,
Janco Partners, KBC Securities/Patria Finance, Komercni Banka,
Lehman Brothers, Merrill Lynch, UniCredit Global Research
Note - estimates for Segment EBITDA, operating profit and
net profit/loss were provided by nine analysts.
(Reporting by Jan Korselt; Editing by David Cowell)
