MONTREAL – Radio and specialty TV company Astral Media reported in a pretty strong fiscal 2005 today.
Net earnings for the year increased 14% over last year to $104.4 million. Q4 net earnings saw a rise of 2% to $28.3 million.
Consolidated revenues totalled $549.6 million for the year, an increase of 6% over 2004. Consolidated revenues were $140 million in Q4 ’05, up 6% compared to last year’s fourth quarter.
EBITDA for the year increased 12% to $172.6 million and was up 8% to $46.4 million in the fourth quarter.
“This increase reflects growth across all business units,” says the press release.
Cash flow from continuing operations also rose 19% year-over-year, totalling $130.9 million. For the fourth quarter, cash flow from continuing operations was up 16% to $40.4 million.
"We are very proud to have been able to deliver solid results yet again in fiscal 2005, with performance meeting the objectives we set for ourselves last year," said Ian Greenberg, president and CEO. "These results were driven by a keen understanding of our markets, distinctive programming across our television and radio divisions as well as a commitment to creativity and innovation that is the cornerstone of our business practice.
“Overall, strong increases in advertising revenues, particularly in our television division, now mean that our revenue mix is balancing at a 60-40 ratio with just over 40% of the Company’s overall revenues now coming from advertising sources. This revenue mix enhances our ability to deliver a consistently strong performance in a competitive media environment."
Astral owns a number of radio stations in Quebec and eastern Canada as well as such TV brands as The Movie Network, Family Channel, vrak.tv, and Canal Indigo, among others.
"In Television, advertising revenues from our specialty networks rose by an impressive 25%, and pay-TV subscribership was up 5%, topping 1.5 million viewers. For radio, while revenues increased by 7% over last year, the division recorded a strong 33.3% EBITDA margin. Our Outdoor Advertising division had a year marked by inventory optimization and new product launches, with EBITDA for the year increasing by 28%," explained Greenberg.
