Thomas Ebeling, CEO - ProSiebenSat.1 Media SE...Nov 10, 2015  · Source: Nielsen Media Research. SevenOne Media incl. 9Live 0 500 1000 1500 2000 2500 3000 Total TV ad market ProSiebenSat.1

Post on 11-Aug-2020

0 Views

Category:

Documents

0 Downloads

Preview:

Click to see full reader

Transcript

2010Thomas Ebeling, CEOAxel Salzmann, CFOMay 6, 2010

2

Q1 2010 at a glanceThomas Ebeling, CEO

3

Good start in Q1 2010

Group revenues and earnings increased

Strengthened viewer market position in core

market Germany

Advertising revenues up in German TV market

New growth initiatives kicked off

Cost savings sustained

2.

1.

3.

4.

5.

4

Recurring EBITDA Group revenues

EUR 658.4m EUR 128.6m

Good start in Q1 2010

Net income

EUR 21.2m

+5.0% +37.1% +EUR22.9m

5

Revenues of German-speakingFree TV segment

EUR 416.7m

Good start in Q1 2010

Revenues of International

Free TV segment

EUR 160.8m

+7.2% +4.5%

6

OperationsThomas Ebeling, CEO

7

Basis: All German TV households (Germany + EU), 24 hours (Mon-Sun) 14-49 years. Source: AGF/GfK Fernsehforschung / TV Scope / SevenOne Media Audience Research. A+CH: 24 hours.

29.1

10.5 11.6

5.7

1.3

29.7

10.8 11.6

6.1

1.2

ProSiebenSat.1Group

SAT.1 ProSieben kabel eins N24

Q1 2009 Q1 2010

German-speaking Free TV business: strong performance of key channels

TV audience shares in GermanyIn percent

Switzerland 17.0%Austria 17.6% 1.1%pt 0.8%pt

+0.6pt

8

Netherlands

24.7%

0.2%pt

1.7%pt 1.2%pt

0.8%pt 0.9%pt 1.4%pt 0.7%pt

2.2%pt

Belgium

16.1%

Norway

12.9% Sweden

13.2% Denmark

16.6% Finland

2.6%

Hungary

21.2% Romania

7.8%

International viewer markets: mixed performance

Figures refer to extended prime time audience shares. The Netherlands: SBS 6, NET 5, Veronica; target demographic 20-49 years / Belgium: VT4, VIJFtv; target demographic 15-44 years; Belgian figures refer to the region of Flanders / Hungary: TV2, since January 2010 FEM3; target demographic 18-49 years / Romania: Prima TV, Kiss TV; target demographic 15-44 years; Romanian figures are based on the urban population. Sweden: Kanal 5, Kanal 9; target demographic 15-44 years / Denmark: Kanal 4, Kanal 5, 6‘eren, The Voice; target demographic 15-50 years in commercial universe / Norway: TV Norge, FEM, The Voice; target demographic 12-44 years / Finland: The Voice/TV Viisi; target demographic 15-44 years.

NL / Belgium

Nordic

CEE

9

Source: Nielsen Media Research. SevenOne Media incl. 9Live

0

500

1000

1500

2000

2500

3000

Total TV ad market ProSiebenSat.1

German gross ad market: sales & share performance in Q1 2010

Gross TV advertising investmentsQ1 2010 vs Q1 2009, in EURm

2,359.9

2,028.0

+16.4%

884.81,040.5

+17.6%

Gross TV ad market share ProSiebenSat.1Q1 2010 vs Q1 2009, in percent

0

20

40

60

80

100

Q1 2009 Q1 2010

43.6

+0.5%pt

44.1

TV ad share of total gross ad market increased from 40.0% to 42.9%

10

In EURm, Q1 2010 vs Q1 2009. Source: Nielsen Media Research.

2.360

430

262

255

174

160

158

151

137

132

128

0 500 1.000 1.500 2.000 2.500

Gross TV Advertising

Food

Cosmetics and Toiletries

Media and Publishing

Trade and Shipment

Business Services

Pharmacy

Motor Vehicles

Finance

Beverages

Telecommunication

German gross ad market: development of major advertising categories in Q1 2010

Gross TV advertising of top 10 TV categories

+16.4%

+12.9%

+14.0%

+4.6%

+26.9%

+47.8%

+25.4%

+6.7%

+4.8%

+25.7%

+3.8%

11

Share of advertising refers to net figures, own estimates based on available market data. Revenues: Cash advertising revenues include: spotsales + sponsoring/billboarding + advertiser funded programming.

NL BE SE NO DK FI HU RO

TV ad market yoyIn percent

International ad markets: sales & share performance in Q1 2010

Share of advertisingperfomance

RevenuePerfomance

1.1

3.12.2 1.3

-10.9

0.3

-13.5

1.3

12

FinancialsAxel Salzmann, CFO

13

* Recurring EBITDA: EBITDA before non-recurring (exceptional) items.

0

50

100

150

Q1 2009 Q1 2010

Q1 2010 - Group: dynamic earnings growth

RevenuesIn EURm

Recurring EBITDA*In EURm

0

200

400

600

800

Q1 2009 Q1 2010

627.0 658.4

93.8

128.6+5.0% +37.1%

Recurring EBITDA margin increased by 4.5%points to 19.5%

14

* Total costs excl. D&A and non-recurring expenses **Thereof purchase price allocation: EUR 13.6m in Q1 2010 (Q1 2009: EUR 15.8m).

0

200

400

600

800

Q1 2009 Q1 2010

Q1 2010 – operating costs: cost savings realized in 2009 are sustained

0

5

10

15

Q1 2009 Q1 2010

0

10

20

30

40

Q1 2009 Q1 2010

Recurring costs*In EURm

Non-recurringexpensesIn EURm

Depreciationand amortization**In EURm

10.1 9.4

32.631.2

532.2536.3

-0.8%

15

Revenue split by segment and region

External revenues by segment In percent

External revenues by regionIn percent

German-speaking Europe70.7(Q1 2009: 70.4)

NL/Belgium12.8(Q1 2009: 13.3)

Nordic 13.1(Q1 2009: 12.5)

CEE 3.4(Q1 2009: 3.8)

Diversification segment 12.3(Q1 2009: 13.4)

Free TV D/A/CH63.3(Q1 2009: 62.0)

Free TV International24.4(Q1 2009: 24.6)

16

0

100

200

300

400

500

Q1 2009 Q1 20100

50

100

150

200

Q1 2009 Q1 20100

20

40

60

80

100

Q1 2009 Q1 2010

0

20

40

60

80

100

Q1 2009 Q1 20100

5

10

15

20

Q1 2009 Q1 20100

5

10

15

20

Q1 2009 Q1 2010

Q1 2010 - segments: recurring EBITDA improved across all segments, diversification revenues down because of Call TV

Recurring EBITDA, in EURm Recurring EBITDA, in EURmRecurring EBITDA, in EURm

External revenues, in EURmInternational Free TV DiversificationGerman-speaking Free TV

External revenues, in EURmExternal revenues, in EURm

+7.2%

+40.5%

+4.5%

+47.3% +9.7%

-4.0%388.8 416.7

68.1

95.7

13.612.4

19.3

13.1

80.984.3160.8153.9

17

* Net debt/LTM recurring EBITDA

Debt facilitiesIn EURm

0

500

1000

1500

2000

July 2014 July 2015 July 2014

600

RCF

1,771

Term Loans

B

1,800

Term Loans

C

Debt and liquidity: lower net debt vs. Q1 2009

Net debt down by EUR 81.7m to EUR 3.431bn yoy

• Net debt up vs. December 31, 2009 due to typical

cash flow seasonality

(Net debt as at 12/31/2009: EUR 3.295bn)

EUR 604.1m of cash on balance sheet

• EUR 497.2m cash draw down

• EUR 50.9m of additional undrawn liquidity

under the RCF

Leverage* improved to 4.7x (Q1 2009: 5.2x)

• LTM recurring EBITDA of EUR 731.3m

18

Outlook & strategy update Thomas Ebeling, CEO

19

What does it take to win tomorrow in TV?

Strong Free TV core business

Substantially more diversified revenue sources

High-efficiency, best-practice organization

1.2.3.

20

• 15% of all TV spots are supported by SevenOne AdFactory products• AdFactory’s new ad concepts increased by 15% since foundation.

High success rate: half of the concepts have already been realized with clients• New initiatives to improve capitalization of on-air sponsorships,

e.g. Rotkäppchen Sekt, Roland Versicherung• Exploration of new product placement possibilities • Market data show that TV is the most effective advertising medium

1. Strong Free TV core business

• 15 new formats in Germany with focus on creating new TV genreslike “medicaltainment” or “countrytainment”

• Audience successes in international markets in prime time with local formats such as a home dining show (Belgium, Denmark and Norway) and US series (e.g. “Mentalist”, “CSI Miami” and “CSI NY”)

• SBS 6 - Netherlands’ most important “media brand”

• Female channel FEM3 in Hungary launched (Q1) • Launch of female channel sixx in Germany (May 7, 2010)• Programming schedule of SAT.1 enhanced by local formats

Attractive content

Complementary stations

Salesexcellence

21

Programming highlights in the upcoming monthson German key stations

SAT.1 showtime:“Die perfekte Minute”, “Deutschland gegen Holland –Das große Duell live in SAT.1”SAT.1 soccer time:Champions League / Europa League Final, World Cup 2010 Special with Oli Pocher

Comeback of German series:“Danni Lowinski” and “Der letzte Bulle”

Sucessful shows: Germany’s next Topmodel Finale, “Schlag den Raab”, “Die TV total Autoball-WM 2010”Blockbuster made in Hollywood: “Sex and the City – Der Film“

1.

22

Complementary stations attractive for advertisers:launch of sixx for the female target group1.

• No classical commercial breaks

• Concept-based marketing: individual and tailor-made

• Targeted acquisition of new, non-TV customers

First contracts with advertisers signed:

23

Substantially more diversified revenue sources

Core businessadvertising

(TV + Online)

Pay & Platform

Music,Commerce &

Ventures

Become more independent of the TV advertising market

Contentcreation &

international sales

2.

24

Substantially more diversified revenue sources:content creation & international sales

• Red Arrow Entertainment Group launched

• Acquisition of Sultan Sushi (Belgium)

• Multi-year contract with Omri Marcus (format developer) signed

• SevenOne International: Dynamic sales growth in Q1. Approx. 20 formats sold internationally including “Schiller Street” (South Africa), “Money Trap” (Bulgaria), “Funny Farm” (Germany) and substantial movie packages to numerous countries (e.g. France, Italy)

• Top MIP news to date: SevenOne International secured rights to “Benidorm Bastards”

• Group-wide cooperations, e.g. Gameshow “Deutschland gegen Holland”

• New initiatives to unlock unused inventory, e.g. “Verliebt in Berlin” for VIVA

2.

25

Substantially more diversified revenue sources:TV brands and content on all platforms

• 9 Apps with about 1.3 million downloads so far

• Launch of N24 iPad app in May

• In total, 195,000 N24 und ProSieben websticks sold, thereof approx. 80,000 in Q1. Launch of SAT.1 webstick in June 2010

• Web-streaming of Champions-League with more than 300.000 live-views in Q1

• HbbTV showcase presented at the CeBIT

• Increased number of special interest channels on MyVideo, e.g. FOCUS GESUNDHEIT, Hausgemacht.TV

• MyVideo offers catch-ups: about 20 titles since launch in Q1 2010 (e.g. “Germany's next Topmodel”, “Schillerstraße”) / service will be expanded in the upcoming months (e.g. “POPSTARS“)

2.

26

• 6 new music artists signed in Q1, e.g. Lena, Scorpions, Kim Wilde• Live entertainment, e.g. GNTM-final public-viewing (June)• 4 new games in Q1, 9 more launches in 2010 • More than 20 media for revenue share and 2 media for equity

partnerships until the end of Q2 • Talent managing agency “tma” launched, 5 top German artists

including Michael Mittermeier signed

• New management team: Dan Marks joins Executive Board (New Media), Arnd Benninghoff (SevenOne Intermedia), Christoph Bellmer(New TV), Dr. Christoph Schneider (maxdome)

• Successful launch of HD+, more set-top boxes sold than expected• HD distribution contract with Tele Columbus signed (April) • More cable HD distribution deals expected before year-end

Substantially more diversified revenue sources

Platform & Pay

Music, Commerce &

Ventures

2.

27

Ventures: media for revenue and equity share

Description

• Mid to long term cooperation

• Convert unsold media into revenue / equity

• Potential partners are small to mid-sized companies with high brand fitfor whom TV ads are not yet affordable

• No cannibalization of classical advertising TV spots

2.Description

Examples

28

Music and commerce

Music & Tour Cooperations License Business=

Classical music business Live Entertainment + +

+

= Artist Management

2.

29

Key messages

Good start into 2010

Economic conditions improving, but visibility still low

Improvement of our content pipeline

Continuing cost management

New revenue growth initiatives

2.

1.

3.

4.

5.

30

top related