Clear Media Announces Annual Results for 2016

HONG KONG, Jan. 24, 2017 /PRNewswire/ --

Highlights

• Bus shelter advertising revenue, net of value added tax, increased by 8.2% to RMB1,607.8 million.
• EBITDA increased by 8.9% to RMB700.9 million.
• EBIT increased by 6.2% to RMB376.1 million.
• Net profit increased by 6.4% to RMB242.9 million.
• Basic earnings per share increased by 6.2% to RMB0.4484.
• The Directors have proposed payment of a final dividend of HK17 cents per share (2015: HK16 cents).

Clear Media Limited ("Clear Media" or the "Company", together with its subsidiaries, the "Group"; SEHK Stock Code: 100), the largest bus shelter advertising panel operator in China, is pleased to announce its annual results for the year ended 31 December 2016.

The Group's total turnover for the year increased by 8.2% year on year to RMB1,607.8 million. Earnings before interest, tax, depreciation and amortisation ("EBITDA") for the year increased by 8.9% year on year to RMB700.9 million (2015: RMB643.6 million). Earnings before interest and tax ("EBIT") increased by 6.2% to RMB376.1 million (2015: RMB354.3 million). Net profit for the year increased by 6.4% year on year to RMB242.9 million (2015: RMB228.2 million). Basic earnings per share increased by 6.2% year on year to RMB0.4484 (2015: RMB0.4223). The Directors have proposed payment of a final dividend of HK17 cents per share (2015: HK16 cents).

As of 31 December 2016, Clear Media operated the most extensive standardized bus shelter advertising network in Mainland China, with a total of more than 47,000 panels (2015: 45,000) covering 24 cities. Revenue, net of value added tax, from the bus shelter advertising business increased by 8.2% year on year to RMB1,607.8 million (2015: RMB1,486.5 million). The average number of bus shelter panels increased by 7.1% during the year. Yield per shelter before value added tax ("yield") increased by 1.2%. The revenue growth was primarily driven by the increase in the average number of panels in operation during the year.

For the year ended 31 December 2016, revenue before value added tax ("gross revenue") from the Group's bus shelter advertising operations in the key cities of Guangzhou, Shanghai and Beijing increased by 19.8% year on year to RMB1,034.2 million (2015: RMB863.5 million), driven by a 9.7% increase in the average number of bus shelter panels and a high yield per shelter of RMB56,845 (2015: RMB52,078).