GMA Network Inc. said on Monday that its net income for the first nine months of 2013 settled at P1.49 billion from the P1.59 recorded in the same period of 2012, for decrease of 6 percent.
“We are always optimistic. Right now we’re trying to solve our ratings problem, if we can resolve that we will be able to project a better 2014,” said lawyer Felipe Gozon, chairman and chief executive officer of GMA.
GMA reported consolidated revenues of P9.752 billion for the first nine months of 2013, up 4 percent from last year.
Airtime sales reached P8.886 billion, surpassing last year’s performance by 5 percent on account of improved adver-tising sales across major revenue platforms.
The Gozon-led company said that operating expenses grew 7 percent to P7.60 billion, due to the increase in production costs as a means to constantly diversify strengthened content. This was compounded by nonrecurring election-related expenses recorded earlier this year. General and administrative expenses, on the other hand, reported flat growth in between periods.
GMA ended the nine-month period with an earnings, before interests, taxes, depreciation and amortization (Ebitda) of P3.138 billion, or 3 percent higher than the figure recorded in 2012.
“We are hoping to surpass, if not equal, last year’s financial performance. The last few months will be crucial in achieving our yearend target,” Gozon said.
He added that, “Total industry went down [and]this were led by big advertisers. Most of them are returning in the fourth quarter, that’s why we are optimistic we will be able to exceed our net income from 2012.”
The company said that during the covered period, GMA’s flagship Channel 7 grew its top-line by 4 percent, while Regional TV, the business unit that oversees regional operations, significantly increased its revenues by 37 percent.
GMA also said that it continues to strengthen its nationwide coverage with several transmission upgrades in the pipeline. Through these efforts, GMA will be able to offer its entertainment and news and public affairs programs to more cities and municipalities all over the country.
GMA has claimed that it leads the competition in the viewer-rich areas of Urban Luzon and Mega Manila in the third quarter, based on data from Nielsen TV Audience Measurement.