BUENOS AIRES, ARGENTINA / ACCESSWIRE / March 11, 2021 / Grupo Clarín S.A. ("Grupo Clarín" or the "Company" - (LSE:GCLA)(BCBA:GCLA), the largest media company in Argentina, announced today its Full Year and Fourth quarter 2020 results. Figures in this report have been prepared in accordance with International Financial Reporting Standards ^(*) ("IFRS") as of December 31, 2020 and are stated in Argentine Pesos ("Ps"), unless otherwise indicated.

^(*) The Company's Management has applied IAS 29 in the preparation of these financial statements (inflation adjustment) because Resolution 777/18, issued by the Comisión Nacional de Valores ("CNV"), establishes that the restatement will be applied to the financial statements.

Highlights (2020 vs.2019):

• Total Revenues reached Ps. 26,639.7 million, a decrease of 23.1% compared to 2019, mainly due to lower advertising revenues in all segments and lower circulation revenues in the Printing and Publishing segment.
• Adjusted EBITDA ⁽¹⁾ reached Ps. 3,245.5 million, an increase of 44.3% compared to 2019, mainly driven by costs reductions in real terms greater than the decrease in revenues, especially in Printing and Publishing and Broadcasting and Programming segments.
• Grupo Clarín's Adjusted EBITDA Margin ⁽²⁾ was 12.2% in 2020, compared to 6.5% in 2019.
• Loss for the period totaled Ps. 465.1 million, a decrease of 76.6% compared to a loss of Ps. 1,986.4 million reported in 2019. Loss for the period attributable to Equity Shareholders amounted Ps 274.4 million in 2020 from a loss Ps. 2,052.1 million in 2019, a decrease of 86.6%.

FINANCIAL HIGHLIGHTS

(1) We define Adjusted EBITDA as Total Revenues minus cost of sales (excluding depreciation and amortization) and selling and administrative expenses (excluding depreciation and amortization). We believe that Adjusted EBITDA is a meaningful measure of our performance. It is commonly used to analyze and compare media companies based on operating performance, leverage and liquidity. Nonetheless, Adjusted EBITDA is not a measure of net income or cash flow from operations and should not be considered as an alternative to net income, an indication of our financial performance, an alternative to cash flow from operating activities or a measure of liquidity. Other companies may compute Adjusted EBITDA in a different manner; therefore, Adjusted EBITDA as reported by other companies may not be comparable to Adjusted EBITDA as we report it.

(2) We define Adjusted EBITDA Margin as Adjusted EBITDA over Total Revenues.

For a full version of this earnings release with financial statements, go to: https://grupoclarin.com/IR/

CONFERENCE CALL AND WEBCAST INFORMATION

GRUPO CLARIN S.A.
(BCBA: GCLA; LSE: GCLA)
cordially invites you to participate in its conference call and webcast presentation
to discuss Fourth Quarter 2020 Results

Date: Friday, March 19, 2021
Time: 2:00 pm Buenos Aires Time/5:00 pm London Time/1:00 pm New York Time

To access the conference call, please dial:
Argentina Participants: 0-800-666-0250
U.S. Participants: 1-877-830-2576
All other countries: +1-785-424-1726
Passcode: CLARIN

The 4Q20 results will be accompanied by a webcast presentation. To access the live stream and slide presentation, visit: https://services.choruscall.com/links/gcla210312fFB3HLWZ.html

There will be a replay available, for 7 days, starting four hours after the conclusion of the conference call. To access the replay, please dial 1-844-488-7474 toll-free from the U.S., or +1-862-902-0129 from anywhere outside the U.S. The replay passcode is: 65322621

The webcast presentation will be archived at http://www.grupoclarin.com/ir/

ABOUT THE COMPANY
Grupo Clarín is the largest media company in Argentina and a leading company in printing and publishing and broadcasting and programming markets. Its flagship newspaper -Diario Clarín- is one of the highest circulation newspapers in Latin America. Grupo Clarín is the largest producer of media content in Argentina, including news, sports and entertainment and reaches substantially all segments of the Argentine population in terms of wealth, geography and age.

Disclaimer
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Grupo Clarín. You can identify forward-looking statements by terms such as "expect", "believe", "anticipate", "estimate", "intend", "will", "could", "may" or "might" the negative of such terms or other similar expressions. These statements are only predictions and actual events or results may differ materially. Grupo Clarín does not intend to or undertake any obligation to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in Grupo Clarín's projections or forward-looking statements, including, among others, general economic conditions, Grupo Clarín's competitive environment, risks associated with operating in Argentina a, rapid technological and market change, and other factors specifically related to Grupo Clarín and its operations.