August 15 2018
(Quezon City, Philippines – August 15, 2018) – Brought about by improved financial performance in the second quarter, broadcast leader GMA Network, Inc. (GMA) concluded the first half of the year with a net income of P1.232 billion. Consolidated revenues during the six-month period amounted to P7.250 billion, a 6 percent decline versus last year.
GMA’s second quarter revenues reached P3.979 billion, which was 1 percent higher compared to the same period last year; while net income climbed by 13 percent to P805.7 million.
Despite an industry-wide reduction in advertising placements, GMA’s consolidated airtime revenues for the first half of 2018 still ended at P6.394 billion, which translates to a single-digit slide of 7 percent versus last year.
Meanwhile, the Network’s other revenue sources tipped at P855.9 million or 3 percent higher than last year.
GMA managed to maintain its total operating expenses (OPEX) for the first semester of 2018 to P5.573 billion, about the same level as last year.
The Company’s consolidated Earnings before interest, taxes, depreciation and amortization (EBITDA) wrapped up at P2.463 billion, or 17 percent behind 2017’s figures due to the shortfall in this year’s topline.
“In spite of challenging market conditions, GMA Network was still able to breach the one billion-peso mark in terms of net income for the first half of 2018. We look forward to seeing the rest of the year with better results for our company,” said GMA Network Chairman and CEO Felipe L. Gozon.
Further, GMA maintained its nationwide TV ratings dominance in the first half of 2018 with an average people audience share of 41.2 percent in NUTAM, ahead of ABS-CBN’s 38.5 percent based on data from Nielsen TV Audience Measurement.
The Network also earned its biggest medal haul to date in two prestigious international award-giving bodies. GMA won eight medals and four finalist certificates in the 2018 New York Festivals while it also took home four gold medals, three silver, and seven certificates in the 2018 US International Film and Video Festival.