ABS-CBN's net income in 2012 fell 29 percent to P1.708 billion

(L-R) Enteng ng Ina Mo, The Mistress and This Guy’s in Love with U Mare! grossed more than P200 million, according to ABS-CBN.



PRESS STATEMENT FROM ABS-CBN:


"The consolidated net income of ABS-CBN Corporation (“ABS-CBN” or the “Company”) (PSE: ABS, ABSP), the country’s largest multimedia
conglomerate, registered P1.708 billion for 2012, down by 29% compared with P2.420 billion in 2011. Removing the effects of the gain from the sale of investments recognized in 2011 amounting to P1.032 billion, net income increased by 23%. The growth in recurring income was fuelled by strong advertising revenues and consumer sales.


"ABS-CBN generated consolidated revenues of P31.7 billion from advertising and consumer sales, a 13% increase compared to last year.


"ABS-CBN’s advertising revenues reached P19.1 billion, an increase of 8% from a year ago. Consumer sales amounted to P12.7 billion, posting a 19% increase. Sky Cable continues to be a major driver of growth with revenues increasing by 32% to P5.9 billion. The growth in revenues is partly attributable to the acquisition of Destiny Cable.


"Total operating and other expenses increased by 12% to P26.2 billion brought about by increases in production costs, cost of sales and services , and general and administrative expenses.


"Capital expenditure and film and program rights acquisition amounted to P4.9 billion, 18% higher than the level of spending in the previous year.


"ABS-CBN maintained its national audience share and ratings leadership for Urban and Rural audiences with prime-time audience share averaging 48% in 2012, a 20 percentage point lead over GMA’s, based on the Kantar National TV Ratings.


"For the period June to December 2012, 17 of the company’s shows were in the Top 20 for Total Philippines (Urban and Rural), with the following occupying the Top 10 slots: Walang Hanggan, Princess and I, MMK Ang Tahanan Mo, Wansapanataym, TV Patrol (Weekday), Ina Kapatid Anak, WBO Junior Featherweight Championship, World Junior Featherweight Championship and Donaire vs Mathebula.


"ABS-CBN Film Productions, Inc. released 15 films in 2012. Seven of them–Enteng ng Ina Mo, Segunda Mano, Unofficially Yours, Kimmy Dora and the Temple of Kiyeme, The Healing, The Mistress, and This Guy’s in Love with U Mare! –topped P100 million in box office receipts, earning blockbuster status by local standards. Enteng ng Ina Mo, The Mistress and This Guy’s in Love with U Mare! grossed more than P200 million."


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