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HONG KONG, Feb. 5, 2015 /PRNewswire/ -- Clear Media Limited ("Clear Media" or the "Company", together with its subsidiaries, the "Group"; SEHK Stock Code: 100), the largest bus shelter advertising panel operator in China listed on The Stock Exchange of Hong Kong, is pleased to announce its annual results for the year ended 31 December 2014.

The Group's total revenue for the year ended 31 December 2014 increased by 6.9% year on year to HK$1,760.7 million. The revenue growth was primarily driven by increases in the average number of panels in operation during the year. The Group's earnings before interest, tax, depreciation and amortisation ("EBITDA") during the year increased by 7.0% year on year to HK$708.9 million (2013: HK$ $662.3 million). Earnings before interest and tax ("EBIT") increased by 6.7% year on year to HK$370.9 million (2013: HK$347.5 million). Net profit for the year increased by 19.5% year on year to HK$240.2 million (2013: HK$201.0 million). Basic earnings per share increased by 18.4% year on year to HK 44.75 cents (2013: HK 37.81 cents). The Directors have proposed payment of a final dividend of HK15 cents per share (2013: HK15 cents) and a special dividend of HK56 cents per share.

As of 31 December 2014, Clear media operated the most extensive standardized bus shelter advertising network in Mainland China, with a total of more than 42,000 panels (2013: 38,000) covering 27 cities. The average selling price before value added tax (the "ASP") decreased modestly by 1.3% during the year, mainly due to modest depreciation of RMB against the Hong Kong dollar. The average number of bus shelter panels increased by 7.6% and the overall occupancy rate increased to 62.4% (2013: 60.5%).

For the year ended 31 December 2014, the revenue from the key cities of Guangzhou, Shanghai and Beijing increased by 11.4% year on year to HK$1,035.2 million (2013: HK$929.0 million). Among the three key cities, the revenue performance was led by Beijing, followed by Shanghai, and then Guangzhou.

Revenue from Beijing increased by 16.9% year on year to HK$473.5 million (2013: HK$405.2 million) due to a 4.0% increase in the average number of bus shelter panels of the Group in operation and a much higher occupancy rate at 72.2% (2013: 62.7%). The ASP decreased by 2.5% during the year.

Revenue from Shanghai increased by 8.9% year on year to HK$228.4 million (2013: HK$209.8 million). Although the ASP decreased by 1.0% and the occupancy rate decreased to 50.1% (2013: 54.0%), the average number of bus shelter panels of the Group in the city increased by 18.5%.

Revenue from Guangzhou increased by 6.1% year on year to HK$333.3 million (2013: HK$314.0 million) due to a much higher occupancy rate at 66.0% (2013: 55.8%). During the year, the ASP decreased by 7.2% and the average number of bus shelter panels of the Group in the city decreased by 3.3%.

Revenue from all mid-tier cities, where the Group has operations in, increased by 7.1% to HK$825.1 million during the year (2013: HK$770.3 million). The ASP decreased by 0.1% and the occupancy rate decreased to 61.1% (2013: 62.2%), while the average number of bus shelter panels of the Group in these cities,  increased by 9.1%.

In the second half of 2014, the Group added 209 digital advertising panels in Nanjing. This is an important step towards establishing a new, contemporary, advertising network with rich new features that also appeal to advertisers who may not have considered outdoor advertising in the past. Sales generated from the new digital operation amounted to HK$5.5 million in 2014 (2013: Nil).

Mr. Han Zi Jing, the Chief Executive Officer of the Group, said: "During the year, Clear Media took advantage of lower asset prices to increase our capital expenditure by 76.0%. This allowed us to increase our market shares in a number of key cities and ensure we have the right assets to maintain long-term profitable growth. The quality of our network, our frontline sales representatives and our operations staff helped us achieve another year of solid growth, driven by the development of new panels in key cities and increases in occupancy rates."

Mr. Mark Thewlis, Executive Chairman of the Group, said: "Our management does not expect significant changes in the operating environment during 2015. Consumer consumption will continue to expand strongly across mainland China and we expect our clients will continue to find our extensive advertising network a valuable channel  for communicating with this expanding base of Chinese consumers. The Group expects asset prices to remain relatively attractive as some operators struggle with rent commitments previously made at the peak of the business cycle. While this remains true, Clear Media has budgeted its capital expenditure for 2015 to be of a similar scale with that of 2014. In addition, we are also exploring opportunities to expand our digital panels to more cities to broaden our digital offering."

Financial Highlights

Income statement highlights for the year ended 31 December 2014

Balance sheet highlights

Please click here to see the full version of the announcement:
http://www.clear-media.net/investor/statutory_publications/E%20Feb%205,%202015%20-%20Annual%20Results%20Announcement%20for%20the%20Year%20Ended%2031%20December%202014.pdf

About Clear Media Limited

Clear Media is the largest bus shelter advertising panel operator in China, with leading market shares from 60% to more than 90% in top-tier cities, and also a broad presence in the fastest growing cities across the country. We provide one-stop solutions for countrywide advertising campaigns for our customers. Listed on the Main Board of The Stock Exchange of Hong Kong since 2002 under the stock code 100, Clear Media's largest shareholder is Clear Channel Outdoor (NYSE: CCO), one of the world's largest outdoor media companies.

For more information on Clear Media, please visit: www.clear-media.net.

For further information:
Clear Media Limited
Mr. Jeffrey Yip
Director of Investor Relations, Company Secretary
Tel: 2235 3977
Fax: 2235 3911
Email: jeffrey.yip@clear-media.net

iPR Ogilvy & Mather
Natalie Tam/ Peter Chan / Clara Liu/ Venus Wong
Tel: 2136 6182/ 2136 6955/ 3920 7631/ 3920 7649
Fax: 3170 6606
Email: clearmedia@iprogilvy.com  

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/clear-media-announces-annual-results-2014-300031574.html

SOURCE Clear Media Limited