PROFITS OF listed ABS-CBN Corp. fell by 25% in 2011 from the year previous as the absence of political advertisements slashed the company’s revenues, the broadcaster said in a statement on Friday.
The Lopez-led firm booked P2.4 billion in consolidated net income last year, lower than the P3.2 billion it earned in 2010, which was an election year.
The 2011 profits include the P1.1-billion, one-time gain from the sale of the broadcaster’s 40% stake in Sky Cable Philippine Depository Receipts to Singaporean STT Communications Ltd., Rolando P. Valdueza, the company’s chief financial officer, said in a briefing.
"Without the one-time gain, our profits were at P1.3 billion," he said.
Consolidated revenues stood at P28.2 billion last year, down by 13% from P32.2 billion due to weaker advertising spending of politicians as well as corporations. Advertising revenues went down by 19% to P17.6 billion due to the absence of political advertisements.
Consumer sales increased by 1% to P10.6 billion while revenues from Sky Cable grew by 10% to P4.3 billion.
Total operating expenses dropped by 5% to P22.3 billion on the back of lower cost of sales and general and administrative expenses.
The company, meanwhile, is looking to book P1.3 billion this year, similar to last year’s profits, excluding the one-time gain from the Sky Cable sale.
"But we are confident that we will exceed that target," Mr. Valdueza told reporters in an interview on Friday.
The company has programmed around P5 billion in capital expenditure for 2012, 25% higher than last year’s P4.2 million.
"The bulk of it will be spent on the expansion of Sky Cable, including the acquisition of film rights and upgrade of production equipment," Mr. Valdueza said.
Rival GMA Network, Inc. similarly posted a profit drop for 2011. The company ended the previous year with P1.715 billion net income after tax, down by 39.01% from P2.812 billion recorded in 2010. Its profit guidance for 2012, meanwhile, has been pegged at P2.8 billion on the back of expected recovery in the advertiser spending.
Shares of ABS-CBN slid by 0.25% to P39.90 apiece while share GMA Network shares fell by 2.20% to P8.45 apiece when the stock market closed on Friday. -- Cliff Harvey C. Venzon
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10 comments:
fell 25% minus skycable. efic failpota dapat hindi nila sinama ang skycable kasi whole income un eh...paano kaya kung without ang skycable..for sure luging lugi ang ebs...
dun sa itaas...PROFIT po yun...kaya di lugi....mas maliit ang kinita compare sa 2010...pero di lugi....san lang ba kumikita ang GMA 7...sa mga laban ni paquiao at eat bulaga....?malaki ang profit ng GMA compare sa ABS minus skycable kasi matipid ang GMA...mura bayad sa mga starlets nila...at walang quality ang mga teleserye nila....
Ayaw tanggapin ng GMA7 supporters na mas malaki ang negative ng dearest TV network nila compared to ABs-CBN!!!
Akala ko double no.1 ang Kapus-o? Bakit patuloy ang pag bagsak ng TV network n'yo?
Ang yabang kasi ni Baboy Gozon na puro palabok ang bibig.
Consolidated net income
ABS 2.4 B (1.1B sky cable & 1.3B ABS)
GMA 1.72B
Consolidated Revenues
ABS 28.2B
GMA not found
Adverising Revenues
ABS 17.6B
GMA 13.08B
Total Operating Expenses
ABS 22.3B
GMA 8.98B
Shares
ABS P39.90
GMA P8.45
kinuha q ang data yan dito mismo sa starmo...
obvious naman walang binatbat ang GMA sa ABS sa total operating expenses palang halatado na masyado kuripot ang GME super tipid para lamang may ma ibulsa ang mga exec..hehe imagine ABS 22.3 B vs GMA 8.98B...kaya natural malaki ang epekto nito sa consolidated net income...haha
another take a look at the shares..ABS P39.90 vs GMA P8.45...hahaha jan palang halatado na pang sardinas lang ang level ng GMA fans while sa ABS naka corned beef na..hahaha
^^^ This is poor GME... Ilan sa mga financial data nila UNDISCLOSED hanggang sa ngayon...
Sa ABS naka HIGHLANDS corned beef pa!!!
Yung unang nag-comment, kinonfirm na naman kung paano kabobo ang mga supporters ng GMA.
sabi ni Valduesa 1.3 billion lang ang net profit ng abs pag d isinama ang pinagbentahn ng sky cable noong 2011, ang net ng GMA ay 1.8 billion ang net profit , ibig sabihin ang GMA prin ang most profitbale at bggest money earner sa tv. simple logic, isa pa, 28 billion ang gross sale ng abs noong 2011 pero ang net nila 1.3 billion lang pero ang GMA na na may 13 billion gross ay may 1.8 billion net profit! so talagang ang GMA parin ang number 1 sa rating at kita since 2004 at ngayun at sa darating ; alalahanin nio logo palng ng GMA ay panalo na sila....
yung nsa taas... logo lng pla ang habol nyo eh... eh di isaksak nyo logo ng istasyon nyong bulok sa nguso nyo hahaha!!
more advertisers=more profit
net lng nmn un eh. ibig sbhin..d tinitipid ng abs ang mga artista at mga gastusin nito. at nagbabayad kasi sila ng tamang buwis! hahaha! eh kayo?
katunayang natatalo na ang GMA 7 e ung balak na pagbili ni MVP (TV5) sa Channel 7.....
Poor GMA 7, nauna kasi ang kayabangan eh, hayan ibinebenta na ng mga may-ari....
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