EX-99.2 3 exhibit992-ccibvfinancials.htm EX-99.2

Exhibit 99.2

CLEAR CHANNEL INTERNATIONAL B.V. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME (LOSS)

(UNAUDITED)

(In thousands)			Three Months Ended June 30,												Six Months Ended June 30,
			2023						2022						2023						2022
Revenue			$	261,286					$	280,347					$	503,684					$	497,419
Operating expenses:
Direct operating expenses(1)			181,320						180,332						373,219						359,291
Selling, general and administrative expenses(1)			51,298						56,428						106,294						108,385
Corporate expenses(1)			10,611						12,653						21,667						25,209
Depreciation and amortization			16,602						18,779						35,060						38,223
Other operating income, net(2)			(11,269)						(3,419)						(110,971)						(1,640)
Operating income (loss)			12,724						15,574						78,415						(32,049)
Interest expense, net			(11,323)						(10,111)						(22,896)						(20,132)
Other income (expense), net			12,884						(32,569)						23,520						(44,379)
Income (loss) before income taxes			14,285						(27,106)						79,039						(96,560)
Income tax expense			(1,181)						(3,669)						(1,223)						(581)
Consolidated net income (loss)			13,104						(30,775)						77,816						(97,141)
Less amount attributable to noncontrolling interest			10						(66)						33						(66)
Net income (loss) attributable to the Company			$	13,094					$	(30,709)					$	77,783					$	(97,075)

(1)Excludes depreciation and amortization

(2)Other operating income, net, includes a gain of $11.2 million from sale of the former business in Italy during the three and six months ended June 30, 2023 and a gain of $96.4 million from the sale of the former business in Switzerland during the six months ended June 30, 2023.