CTC Media Inc - CTCM (USA)

FULL YEAR 2014 FINANCIAL HIGHLIGHTS
Total revenues up 3% year-on-year in ruble terms to RUR 27.3 billion ($711 million)
Advertising revenues up 4% year-on-year in ruble terms to RUR 26.7 billion ($699 million)
The company outperformed overall television ad market growth of 2.3% year-on-year
Combined Russian national inventory was fully sold-out for FY 2014
Adjusted OIBDA2,3 was down 10% in ruble terms year-on-year to RUR 7.8 billion ($206 million), with OIBDA margin2,3 of 28.6%
Adjusted3 fully diluted earnings per share of $0.88 (FY 2013: $1.16)
Net cash position of $139.4 million at the end of the period
Aggregate cash dividends of $109 million paid in 2014
Results, as reported in USD, materially affected by the significant decline in the value of the ruble

Q4 2014 FINANCIAL HIGHLIGHTS
Total revenues and advertising revenues were almost flat in ruble terms year-on-year - RUR 8.5 billion ($182 million) and RUR 8.2 billion rubles, respectively
Combined Russian national inventory was fully sold-out for Q4 2014
Adjusted OIBDA2,3 was down 34% in ruble terms year-on-year to RUR 2.3 billion ($54 million) with OIBDA margin2,3 of 27.7%
Non-cash impairment loss of $29.4 million arising from the impairment of Peretz goodwill to reflect more conservative forecast for advertising market for 2015 and thereafter, and increased uncertainty in the medium-term due to macroeconomic and political headwinds
Adjusted3 fully diluted earnings per share of $0.31 (Q4 2013: $0.48)

CORPORATE HIGHLIGHTS
Board of directors declares dividends of $0.175 per share for the first quarter of 2015, payable on or about March 31, 2015 to stockholders of record as of March 16, 2015
Board of Directors and management continue to work with external advisors to develop response to ensure compliance with Mass Media Law while protecting the interests of all stockholders