Grupo Media Capital presents Full-Year Results 2011

FULL-YEAR RESULTS 2011

• Grupo Media Capital presents an EBITDA margin of 18.7%, adjusted for staff curtailment cost and goodwill impairments

• Operating revenues reached € 224.4 million (10% below the comparable period)

• Advertising revenues reached € 137.1 million, corresponding to an 8% decrease.

• TVI led audience shares yet again by a strong lead, with FTA shares of 34.5% in all-day and 38.1% in prime-time. Excluding the staff curtailment costs effect, the segment obtained an adjusted EBITDA margin of 23.9% (28.8% in 2010).

• Audiovisual Production activity saw a 12% reduction in its operating revenues. Adjusted EBITDA margin decreased 2.6pp to 7.4%.

• In Radio, advertising revenues increased 4%, with a clear outperformance versus the market. EBITDA margin was 17.7% (before staff curtailment costs), whereas adjusted EBITDA was € 2.6 million. Following the tendency of previous quarters, in Q4’11 the Group’s radios reached their highest aggregate audience level ever (19.2%).

• In the Entertainment segment, EBITDA was € -0.5 million (excluding staff curtailment costs), thus revealing a substantial increase against the previous year.

• In Internet, IOL and MCM’s network of sites continue to grow in volume indicators, registering an average of 179 million monthly pageviews during 2011 (159 million in 2010). Along the year, MCM made a strong bet on digital content for a multitude of platforms and devices.