SBS Reports 2018 Q4 Preliminary Financial Results

RADIO ONLINE | Wednesday, February 20, 2019

Spanish Broadcasting System

Spanish Broadcasting System (SBS) reported preliminary estimated financial results for the fourth quarter 2108. The company currently estimates consolidated net revenue to be between $38.9 million and $39.6 million, an increase of between 7% and 9% over 2017 and Adjusted OIBDA to be between approximately $16.8 million and $17.5 million, an increase of between 21% and 26% over 2017.

"Over the past several years we have embarked upon a concerted strategy of unlocking and monetizing the combined power of our leading radio, television, digital and experiential platforms targeting the U.S. Hispanic consumer," commented Chairman and CEO Raul Alarcon. "Our preliminary fourth quarter and full-year 2018 results have, once again, validated that strategy by demonstrating the true value of our integrated assets and management's ability to grow the top line while simultaneously implementing strict cost controls at all of our operating units."

"During the fourth quarter and full-year 2018, we grew our revenue by 7% to 9% and 5% to 6%, respectively, while maintaining our margins at industry-leading levels. We currently expect our full-year 2018 Adjusted OIBDA to be approximately $50 Million, a 36% or greater increase over the prior year and one of the best operating results in our 35-year history. In addition, our audio rankings, as well as our TV, digital and mobile engagement metrics, also grew significantly."