M e d i a s e t G r o u p

Transcription

1 M e d i a s e t G r o u p 9 th November Month Results

2 MEDIASET M Whole Day Audience Trend 24H Individuals Jan- Sep Jan- Sep excluding EUROCUP OTHER SATELLITE OTHER TERRESTRIAL 43.3% 44.2% 2.3% 3.8% 6.3% 43.6% 44.1% 2.3% 3.9% 6.2% Source: Auditel, Individuals BROADCASTING 2

3 MEDIASET M Channel Ranking PRIME TIME ( ) Individuals yrs yrs RAI CANALE CANALE CANALE RAI RAI ITALIA ITALIA ITALIA RAI RAI RAI RAI RAI RAI RETE RETE RETE Source: Auditel BROADCASTING 3

4 MEDIASET M Channel Ranking 24H Individuals yrs yrs RAI CANALE CANALE CANALE RAI ITALIA RAI ITALIA RAI ITALIA RAI RAI RAI RAI RAI RETE RETE RETE Source: Auditel BROADCASTING 4

5 MEDIASET M Whole Day Audience Trend 24H Commercial target yrs First broadcaster in Italy M M M Source: Auditel, BROADCASTING 5

6 M e d i a s e t G r o u p ADVERTISING

7 MEDIASET M Advertising Revenues 1, , ml 2,012.3 ADV Revenues +9.9% Vs 9M M M M ADVERTISING 7

8 MEDIASET M 4-YEAR Advertising Trend Jan- Aug M M M M M Source: Nielsen Media Research Estimates ADVERTISING 8

9 MEDIASET M Advertising by Sector 9M2004 (ml ) 2004 vs vs 2002 FOOD % +8.7% NON FOOD % -2.2% AUTOMOTIVE % +7.7% FINANCE/INSURANCE % -27.2% TELECOM % +7.2% MEDIA & PUBLISHING % +7.0% RETAIL % -14.3% ADVERTISING 9

10 MEDIASET M Breakdown by Sector M 7.5% Media Publishing 17.2% 7.9% Non-Food Telecom 2.2% Finance M 9.4% Media Publishing 16.5% 9.1% Non-Food Telecom 2.9% Finance 34.8% Food 10.1% Automotive 20.3% Other Sectors 29.5% Food 11.1% Automotive 21.5% Other Sectors ADVERTISING 10

11 MEDIASET M New Clients Acquisition Policy Active Clients New Clients in 9M New Clients Revenues 53.6 ml ADVERTISING 11

12 M e d i a s e t G r o u p

13 TELE5 9M 2004 Performance Highlights Broadcasting Undisputed Leadership in Commercial Target: % in Prime Time, % in 24Hours 1st Private Channel on Individuals % in prime Time % in 24 Hours Advertising Leadership in the Spanish TV Advertising Mkt 9M2004 Net TV Advertising Revenues growth: +28.4% Financials (*) 36% EBIT margin (23.8% 9M 2003) ml Pre-tax Profit (102.6 ml 9M 2003): +95.7% Strong FCF generation: more than doubled to ml (95.2 ml 9M2003) (*): Italian GAAP 13

14 M e d i a s e t G r o u p

15 MEDIASET GROUP Consolidated Results ( ml.) M M Net Consolidated Revenues Operating Costs EBITDA Amortisation & Depreciation EBIT pre Goodwill Amortisation Tele5 Goodwill Amortisation EBIT Pre-Tax Profit and Minorities 2,400.2 (1,012.0) 1,388.2 (643.7) (34.7) ,111.8 (886.7) 1,225.1 (707.0) (32.4)

16 ITALIAN BUSINESS 16

17 MEDIASET ITALIAN BUSINESS P&L Results ( ml.) M M Net Consolidated Revenues Operating Costs EBITDA Rights Amortisation EBITDA Adj. Other Amortisation & Depreciation EBIT Pre-Tax Profit 1,853.6 (784.3) 1,069.3 (449.3) (72.7) ,686.6 (693.5) (511.1) (65.4)

18 MEDIASET ITALIAN BUSINESS Operations Breakdown ( ml.) Total Net Revenues EBIT EBIT margin TV Operations 1, % Non TV Operations % DTT Operations 11.8 (36.8) n.a. 1, % 18

19 MEDIASET ITALIAN BUSINESS TV Operations ( ml.) M M D % Total Net TV Revenues 1, , % TV Advertising Revenues Other TV Revenues OW: Sale of Rights Commissions 2, (299.0) 1, (271.3) Total TV Costs (1,204.7) (1,210.5) - 0.5% Personnel TV Operating Costs TV Rights Amortisations Other Amortisation & Depreciation (229.7) (481.8) (437.5) (55.7) (224.2) (422.2) (507.0) (57.1) EBIT from TV Operations margin % % +38.9% 19

20 MEDIASET ITALIAN BUSINESS Non TV Operations ( ml.) M M Total Non TV Revenues Thematic Channels Teletext Internet Other Non-TV Revenues Total Non TV Costs Personnel Multimedia Operating Costs Non-TV Operating Cost Amortisations & Depreciations EBIT from Non TV Operations margin (53.0) (8.3) (18.1) (17.1) (9.5) % (54.6) (8.1) (16.2) (20.4) (9.9) % 20

21 MEDIASET ITALIAN BUSINESS DTT Operations ( ml.) M M Total DTT Revenues Total DTT Costs Personnel DTT Operating Costs Amortisations & Depreciations o/w: - Pay per View EBIT from DTT Operations (48.6) (5.7) (23.7) (19.2) (6.9) (36.8) (4.9) (0.7) (1.7) (2.6) - (4.9) 21

22 MEDIASET ITALIAN BUSINESS Cash Flow Statement ( ml.) M M Net Financial Position 1/1 Free Cash Flow - Cash Flow from Operations - Investments - Disinvestments - Change in Net Working Capital (CNWC) Equity (Investments)/Disinvest. Dividends Cashed-in Dividends from Tele5 Total Net Cash Flow Net Financial Position 30/9 (451.4) ,214.3 (569.1) (78.5) (271.3) (170.8) (445.7) 0.4 (127.4) (285.4) (247.4) 11.3 (110.3) (281.1) 22

23 MEDIASET ITALIAN BUSINESS Investments ( ml.) ml ml (*) M M TV Rights DTT Technical & Immaterial (*): of which ml related to PPV DTT 3-season Football Rights 23

24 GROUP NET FINANCIAL POSITION 24

25 MEDIASET GROUP Consolidated Net Financial Position 30/9/ /12/ Consolidated Consolidated (71.8) (199.3) (281.1) 30/9/2004 (451.4) Consolidated 25

26 MEDIASET GROUP Back up Slides 26

27 MEDIASET GROUP Consolidated Results ( ml.) M Consolidated M Mediaset M Telecinco Consolidation Effects Net Consolidated Revenues 2, , (0.9) Operating Costs (1,012.0) (784.3) (228.6) 0.9 EBITDA 1, , Amortisation & Depreciation (643.7) (522.0) (121.7) 0.0 EBIT pre Goodwill Amortisation Tele5 Goodwill Amortisation (34.7) - - (34.7) EBIT (34.7) Pre-Tax Profit (34.7) 27

28 MEDIASET GROUP Consolidated Cash Flow ( ml.) M M Net Financial Position 1/1 Free Cash Flow - Cash Flow from Operations - Investments - Disinvestments - Change in Net Working Capital Change in Consolidation Area Equity (investments)/disinvest. Dividends (paid and received) Total Net Cash Flow Net Financial Position 30/9 (199.3) ,414.4 (686.0) (78.5) (366.3) (170.8) ,191.6 (567.0) 1.0 (119.2) (133.7) * (9.4) (264.3) 99.0 (71.8) (*): including 142.3ml Tele5 1/1/2003 Net Financial Position 28

29 MEDIASET ITALIAN BUSINESS Back up Slides 29

30 MEDIASET ITALIAN BUSINESS Revenues Breakdown ( ml.) M M Total Net TV Revenues TV Advertising Revenues Other TV Revenues o/w: -Sales of Rights Commissions Total Net Multimedia Revenues Non TV Revenues DTT Revenues Total Net Revenues 1, , (299.0) , , , (271.3) ,

31 MEDIASET ITALIAN BUSINESS Operating Costs Breakdown ( ml.) M M Personnel Costs TV Operating Costs Commercial Costs In-house Production Transmission Costs Overheads Multimedia Operating Costs Non TV Operating Costs DTT Operating Costs Total Operating Costs (243.7) (481.8) (66.8) (347.6) (20.1) (47.3) (18.1) (17.1) (23.7) (540.6) (233.0) (422.2) (60.2) (294.1) (23.9) (44.0) (16.2) (20.4) (1.7) (460.5) 31

32 MEDIASET ITALIAN BUSINESS Non Operating Items ( ml.) M M Total Associates ALBACOM (19.5% stake) Others Net Financial Income/(Charges) TRS Income Other Financial Income/(Charges) Total Extraordinary Items (13.6) (12.7) (0.9) (10.0) (2.3) (21.4) (20.1) (1.3) (5.7) - (5.7) (10.7) 32

33 MEDIASET SPANISH BUSINESS Back up Slides 33

34 TELECINCO P&L Results ( ml.) ITALIAN GAAP M M Total Net Revenues Total TV Costs Personnel Other Operating Costs TV Rights Amortisation EBITDA Adj. Other Amortisation & Depreciation EBIT Non Operating Items Pre-tax Profit (339.6) (50.9) (177.7) (111.0) (10.7) (312.0) (47.5) (145.9) (118.6) (11.9)

35 TELECINCO TV Revenues Breakdown ( ml.) ITALIAN GAAP M M Net TV Advertising Revenues Gross TV Advertising Revenues Agency Commissions Other Net Revenues Total Net Revenues (33.8) (34.3)

36 TELECINCO TV Operating Costs Breakdown ( ml.) ITALIAN GAAP M M Personnel Costs Other Operating Costs Commercial Costs In-house Production Transmission Costs Overheads Total Operating Costs (50.9) (177.7) (4.0) (121.4) (13.0) (39.3) (228.6) (47.5) (145.9) (5.2) (101.7) (13.3) (25.7) (193.4) 36

37 TELECINCO Non Operating Items ( ml.) ITALIAN GAAP M M Total Associates 0.4 (1.9) Net Financial Income/(Charges) Total Extraordinary Items (0.1) (1.3) 37

38 TELECINCO Cash Flow Statement ( ml.) ITALIAN GAAP M M Net Financial Position 1/1 Free Cash Flow Cash Flow from Operations Investments Disinvestments Change in Net Working Capital (CNWC) Equity (Investments)/Disinvest. Dividends Total Net Cash Flow Net Financial Position 30/ (116.9) 0.7 (8.5) - (250.0) (44.6) (121.3) (28.2)

39 TELECINCO Investments ml. ITALIAN GAAP ml M M TV Rights Tangible & Intangible Fixed Assets 39

40 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. The content of this document is not, and shall not be considered as, an offer document or an offer or solicitation to buy or sell any stock. 40

41 M e d i a s e t G r o u p 9 th November Month Results