The company announced its financial results in a press release on Tuesday. Using constant exchange rates, which show a change adjusted for exchange rate fluctuations, CME’s profit fell 23.2 percent. In the Czech Republic, using constant exchange rates, the decline in profit was 30.9 percent.
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As a result of the global pandemic, the company’s advertising revenues fell sharply in April and May, and the situation improved significantly in June. For the full quarter, advertising revenue fell 21 percent using current exchange rates and 17 percent using constant exchange rates.
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Net income decreased 26.2 percent to $ 135.6 million (3.1 billion crowns) at current exchange rates, and decreased at 23.2 percent at constant exchange rates.
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In the Czech Republic, CME operates the television channels Nova, Nova Cinema, Nova Sport, Nova 2, Nova Action, Nova Gold and Nova International. The company also operates in Bulgaria, Romania, Slovakia and Slovenia.
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If the European Commission (EC) agrees, the company could become part of Petr Kellner’s PPF Group by the end of October. A $ 2.1 billion deal was signed last October.
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