Brief: Catena Media Foresees Lower Operating Profit For Q4 2019

Catena Media

18/02/2020 07:33

Feb 18 (Reuters) - Catena Media PLC  CATME.ST :
    * CATENA MEDIA FORESEES LOWER OPERATING PROFIT FOR Q4 2019
DUE TO
IMPAIRMENT OF INTANGIBLE ASSETS, ADOPTION OF IFRS 9 ACCOUNTING
ASSUMPTIONS AND AN EXCEPTIONAL REVENUE ADJUSTMENT IN THE US
    * CATENA MEDIA PLC - IN Q4 2019, TOTAL OPERATING REVENUES
FOR
CATENA MEDIA PLC ARE ESTIMATED TO AMOUNT TO EUR 27.1M (27.3)
    * CATENA MEDIA PLC - REVENUES FOR Q4 2019 ARE IMPACTED BY AN
EXCEPTIONAL ADJUSTMENT OF EUR 0.5M RELATED TO PREVIOUS PERIODS
    * CATENA MEDIA PLC - REPORTED REVENUE IS THEREFORE ESTIMATED
AT
EUR 26.6M (27.3)
    * CATENA MEDIA PLC - ADJUSTED EBITDA IS ESTIMATED AT EUR
11.8M
(12.0), WHILE EBITDA IS ESTIMATED AT EUR 8.5M (12.0)
    * CATENA MEDIA PLC - EBITDA IS AFFECTED BY: (1)
IMPLEMENTATION OF
A PRUDENT ASSESSMENT MODEL FOR IMPAIRMENT LOSSES ACCORDING TO
IFRS 9, HAVING AN EFFECT OF EUR 2.7M
    * CATENA MEDIA PLC - EBITDA IS AFFECTED BY: 2) AN
EXCEPTIONAL
REVENUE ADJUSTMENT FROM US AMOUNTING TO EUR 0.5M
    * CATENA MEDIA PLC - OPERATING PROFIT IS EXPECTED TO BE
FURTHER
AFFECTED BY A NON-CASH EFFECT FROM IMPAIRMENT TESTING OF
INTANGIBLE ASSETS, RESULTING IN A WRITE-DOWN OF EUR 32.1M
    * CATENA MEDIA PLC - OPERATING PROFIT IS ESTIMATED AT EUR
-27.3M
(9.4)

Source text for Eikon:  ID:nWkr5k439H 
Further company coverage:  CATME.ST 

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