2010 First Quarter Results Presentation. 11 th May 2010

Transcription

1 2010 First Quarter Results Presentation 11 th May

2 Broadcasting 2

3 ITALY TV Consumption trend ( ) Average Daily minutes Individuals years Source: Auditel (1 January 31 March of each year) Broadcasting 3

4 MEDIASET Q Audience Share 24 hours Generalist (C5+I1+R4) Multichannel FTA (2) Subtotal Pay TV Channels Total Individuals 36.9% 1.4% 38.3% 2.3% 40.6% yrs 39.8% 1.3% 41.1% 3.0% 44.1% Generalist (R1+R2+R3) Multichannel FTA (11) Total 39.2% 2.7% 41.9% 33.9% 3.0% 36.9% Source: Auditel (1 January 31 March 2010); Pay TV Channels, Company elaborations on Auditel data Broadcasting 4

5 MEDIASET Q Audience Share Prime Time Generalist (C5+I1+R4) Multichannel FTA (2) Subtotal Pay TV Channels Total Individuals 36.9% 1.2% 38.1% 2.9% 41.0% yrs 39.9% 1.0% 40.9% 3.4% 44.3% Generalist (R1+R2+R3) Multichannel FTA (11) Total 40.9% 2.1% 43.0% 36.7% 2.3% 38.9% Source: Auditel (1 January 31 March 2010); Pay TV Channels, Company elaborations on Auditel data Broadcasting 5

6 Advertising 6

7 ITALY Q Advertising market trend 1Q2010 vs. 1Q2009 Total Market* Mediaset Total Market excluding Mediaset* Rai Newspapers Magazines Radio Internet +4.4% +5.3% +3.9% +3.2% +3.5% -10.3% +12.6% +3.0% Source: Nielsen (January-March) * Excluding Cards, Out-of-home, Direct Mail Advertising 7

8 MEDIASET Q Advertising revenues Euro ml +5.2% Q Q 2010 Advertising 8

9 MEDIASET Q Advertising revenues Euro ml +7.0% (including Digitalia) Q Q 2010 Advertising 9

10 MEDIASET Q Recovery of Fast Moving Consumer Goods 1Q 09 vs. 1Q 08 1Q 10 vs. 1Q 09 Food -16.2% +14.2% FOOD BEVERAGES -14.0% -24.5% +20.6% -14.0% Non-Food -14.5% +9.6% PERSONAL CARE HOUSEKEEPING TOILETRIES Total Grocery -18.2% -24.6% +1.4% -15.6% +5.3% +10.4% +12.1% +12.5% Advertising 10

11 MEDIASET Q Advertising Breakdown by Sector 1Q 09 vs. 1Q 08 1Q 10 vs. 1Q 09 TELECOM AUTOMOTIVE FINANCE/INSURANCE -5.2% -5.8% -10.6% +14.0% +2.7% +8.5% Advertising 11

12 MEDIASET Q Advertising Breakdown by Sector 1Q 09 vs. 1Q 08 1Q 10 vs. 1Q 09 HOUSEHOLD APPLIANCES CLOTHING MEDIA/PUBLISHING -27.6% -23.6% -24.3% -16.8% -13.1% -24.0% Advertising 12

13 MEDIASET Q Top Investors* (1Q2010 vs. 1Q2009) +9.3% +5.2% +5.7% Total Top 10 Top 30 * Top 2009 Publitalia clients (sales order) Advertising 13

14 MEDIASET Q New business activity Active clients New clients Retail Clothing Pharmaceutical/Health Advertising 14

15 Financials 15

16 MEDIASET GROUP Q P&L Highlights (Euro ml.) Net Consolidated Revenues 1Q Q ,119.4 EBITDA EBIT NET PROFIT (Reported) NET PROFIT (Adjusted*) Group Net Financial Position (1,316.0) (1,256.3) *Excluding the net impact of the amortisation of intangibles related to the PPA of Endemol Financials 16

17 Financials Italian Business 17

18 MEDIASET ITALIAN BUSINESS Q P&L Results (Euro ml.) 1Q Q 2010 % Var Net Consolidated Revenues % Personnel Costs (108.5) (110.1) Other Operating Costs (338.4) (397.1) EBITDA % Rights Amortisation (218.8) (243.3) Other Amortisation & Depreciation (32.6) (33.9) Operating Profit % Financial Income (Losses) (14.2) (6.7) Associates Pre-Tax Profit Taxes (31.3) (49.8) NET PROFIT % Financials 18

19 MEDIASET ITALIAN BUSINESS Q Operations Breakdown (Euro ml.) Total Net Revenues Total Costs (including D&A) Operating Profit FTA TV (472.4) Network Operator 50.8 (50.3) 0.5 Pay TV (223.7) (8.9) Other Activities (105.0) 4.6 Intra-company Eliminations (34.2) Adjustments (38.6) 32.9 (5.7) TOTAL Financials 19

20 MEDIASET ITALIAN BUSINESS Q FTA TV Operations (Euro ml.) Total Net TV Revenues TV Advertising Revenues Multichannel Adv. Revenues Commissions Other TV Revenues Total TV Costs Personnel TV Operating Costs TV Rights Amortisations Other A&D Net Intra-company Items FTA TV Operating Profit margin 1Q (96.1) 23.1 (480.4) (89.9) (212.1) (150.4) (13.9) (14.0) % 1Q (101.7) 22.4 (472.4) (91.2) (215.4) (139.5) (9.8) (16.5) % Financials 20

21 MEDIASET ITALIAN BUSINESS Q Network Operator (Euro ml.) Total Net Revenues 3 Party DVB-T/DVB-H Revenues Other Revenues Net intra-company Items Total Costs Personnel Other Operating Costs Other Amortisation & Depreciation Network Operator Operating Profit 1Q (46.0) (9.2) (23.7) (13.1) Q (50.3) (9.1) (25.7) (15.6) 0.5 Financials 21

22 MEDIASET PREMIUM Active Clients 4,143,000 4,245,000 3,725, Season 2,911,000 3,276,000 3,382, Season 1 Jul 31 Dec 31 Mar 7 May Source: Company data, until 7 May 2010 Financials 22

23 MEDIASET ITALIAN BUSINESS Q Pay TV (Euro ml.) Total Net Pay TV Revenues Pay TV Revenues Advertising Revenues Other Revenues Commissions Total Pay TV Costs Personnel Other Operating Costs Rights Amortisations and Other D&A Net intra-company items Pay TV Operating Profit 1Q (1.0) (152.9) (3.1) (63.6) (69.9) (16.4) (14.0) 1Q (2.4) (223.7) (4.4) (95.2) (107.5) (16.5) (8.9) Financials 23

24 MEDIASET ITALIAN BUSINESS Q Other Activities (Euro ml.) Total Net Revenues Medusa/Taodue 3 Party revenues Medusa/Taodue intra-company revenues Multimedia Mediashopping Other Non-TV Revenues Total Costs Personnel Other Operating Cost Right Amortisations and other D&A Intra-company Items Other Activities Operating Profit 1Q (90.1) (6.2) (48.6) (32.8) (2.5) Q (105.0) (5.4) (65.1) (32.5) (2.0) 4.6 Financials 24

25 MEDIASET ITALIAN BUSINESS Q Investments 1Q Q 2010 (Euro ml.) TV rights and cinema Pay TV rights DTT Technical & immaterial Total Investments Financials 25

26 MEDIASET ITALIAN BUSINESS Q Cash Flow Statement (Euro ml.) 1Q Q 2010 Initial Net Financial Position (01/01) Cash Flow from Core Activities Cash Flow from Operations Investments Disinvestments Change in Net Working Capital (CNWC) Equity (Investments)/Disinvestment Free Cash Flow Cashed in Dividends Change in Equity Total Net Cash Flow Final Net Financial Position (31/03) Group Net Financial Position (31/03) (1,345.8) (237.5) 0.7 (1.6) (1.4) (1,280.7) (1,256.3) (1,396.0) (202.1) (1,164.4) (1,316.0) Financials 26

27 MEDIASET SPANISH BUSINESS Back up Slides 27

28 TELECINCO Q P&L Results (Euro ml.) Net Consolidated Revenues Personnel Costs Other Operating Costs EBITDA Amortisation & Depreciation EBIT Financial Income (Losses) Associates Pre-Tax Profit Taxes NET PROFIT Reported NET PROFIT Adjusted* 1Q (20.4) (53.0) 86.2 (42.5) (11.6) 32.1 (5.2) Q (19.2) (80.2) (36.5) (11.3) 66.4 (10.0) *Excluding the net impact of the amortisation of intangibles related to the PPA of Endemol Financials 28

29 TELECINCO Q Investments (Euro ml.) 1Q Q 2010 TV rights Co-production & Distribution Tangible & Intangible Fixed Assets Total 57.8 Investments Financials 29

30 TELECINCO Q Cash Flow Statement (Euro ml.) Initial Net Financial Position (01/01) Free Cash Flow Cash Flow from Operations Investments Change in Net Working Capital (CNWC) Change in Equity Equity (Investments)/Disinvest. Cashed in Dividends Treasury Shares Total Net Cash Flow Final Net Financial Position (31/03) 1Q 2009 (25.9) (57.1) 33.6 (2.6) (2.9) Q 2010 (156.0) (57.8) (22.6) (48.4) (151.5) Financials 30

31 MEDIASET GROUP Q Net Profit Adjustment (Euro ml.) 1Q Q 2010 NET PROFIT (Reported) Edam Adjustments from Telecinco Telecinco Minorities (2.0) (1.7) Net Edam PPA Adjustment Adjusted NET PROFIT Financials 31

32 Investor Relations Department: Tel: Fax: WebSite: Forward-looking Statements Statements contained in this document, particularly the ones regarding any Mediaset Group possible or assumed future performance, are or may be forward looking statements and in this respect they involve some risks and uncertainties. Mediaset Group actual results and developments may differ materially from the ones expressed or implied by the above statements depending on a variety of factors. Any reference to past performance of Mediaset Group shall not be taken as an indication of future performance. This announcement does not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein. The executive responsible for the preparation of the Mediaset S.p.A. accounts, Andrea Goretti, declares that, as per para. 2 art. 154-bis, of the Testo Unico della Finanza, that the accounting information contained in this document corresponds to that contained in the company s books. 32