Central European Media Enterprises Ltd. Reports Results for the Second Quarter

SIX MONTHS
- Net revenues increased 16% at actual rates and 3% at constant rates to US$ 298.7 million -
- Operating income increased 19% at actual rates and 9% at constant rates to US$ 66.8 million -
- OIBDA increased 19% at actual rates and 8% at constant rates to US$ 86.3 million -

SECOND QUARTER
- Net revenues increased 9% at actual rates and were steady at constant rates to US$ 159.6 million -
- Operating income increased 6% at actual rates and was steady at constant rates to US$ 45.8 million -
- OIBDA increased 8% at actual rates and was steady at constant rates to US$ 55.7 million -

EXPECTS TO COMPLETE SALE OF CROATIAN ASSETS AT END OF JULY

HAMILTON, Bermuda--(BUSINESS WIRE)-- Central European Media Enterprises Ltd. (“CME” or the “Company”) (NASDAQ/Prague Stock Exchange:CETV) today announced financial results for the three and six months ended June 30, 2018.

Year-to-date operational and financial highlights:

• TV advertising revenues increased 16% at actual rates and 3% at constant rates in the first half of 2018.
• Carriage fees and subscription revenues increased 15% at actual rates and 4% at constant rates.
• OIBDA increased 19% at actual rates and 8% at constant rates, resulting in OIBDA margin expansion to 29% from 28%.
• Unlevered free cash flow for the six months ended June 30, 2018 increased 39% to US$ 89.3 million.
• CME repaid a total of €160 million (approximately US$ 187 million) of debt in the first half of 2018 using proceeds from warrant exercises and cash generated by the business, which together with the improvement in our operations reduced our net leverage ratio to 4.4x at the end of June.
• Following the repricing of our guarantee fees in April, our 4.1% average cost of borrowing is about 190 basis points lower than the start of the year, and will fall another 50 basis points once our net leverage is less than 4x.

FULL PRESS RELEASE

EARNINGS CALL PRESENTATION

Q2 2018 INVESTOR PRESENTATION