2013 Full Year Results Presentation

Transcription

1 2013 Full Year Results Presentation Milan, 25th March 2014

2 Broadcasting & Advertising

3 ITALY Tv consumption trend ( ) Average daily minutes* +9.7% +9.0% FY 2009 FY 2011 FY 2013 INDIVIDUALS FY 2009 FY 2011 FY yrs * Average daily minutes vs. total Italian populationp 3

4 ITALY FY 2013 Tv consumption trend January - December Consumption Viewing time* Reach Individuals +1.9% +2.3% -0.2% yrs +0.6% +1.3% -0.6% Tv reach** 82.0% Video viewers on Tv websites** 22.0% * Average daily minutes vs. total audience ** On total Italian population 4

5 ITALY FY 2013 Tv audience market Commercial target, t years Discovery Group 6.4% Others 12.3% Mediaset 36.2% Rai 33.1% Sky + Fox 8.2% La7 3.8% Source: Company elaborations on Auditel data, January - December 5

6 MEDIASET FY 2013 Multichannel audience share 24 hours - commercial target t MEDIASET DTT (Free+Pay) RAI DTT SKY Channels FOX Channels Discovery FY % 65% 6.5% 5.9% 2.4% 4.5% FY % 69% 6.9% 5.8% 2.3% 6.5% Source: Company elaborations on Auditel data, January - December 6

7 ITALY FY 2013 Advertising market trend 1H13 vs. 1H12 FY13 vs. FY12 Total Market Tv Market Mediaset Press Radio Internet* -17.1% -16.4% -12.0% -10.0% -17.2% -11.4% -27.0% -24.0% -11.7% -6.2% -3.2% -2.0% Source: Nielsen, excluding direct mail, only national commercial * Excluding Keyword, search 7

8 MEDIASET FY 2013 Total advertising revenues Euro ml -11.4% 2, ,061.5 FY 2012 FY 2013 Note: all platforms 8

9 MEDIASET FY 2013 Advertising Breakdown by Sector FY 13 vs FY 12 Retail -5.1% Other -9.2% 4% 19% Finance +6.4% 3% 22% Food -16.2% Pharma 6% -5.2% 5% Media -6.4% 11% 14% 16% Non Food -9.3% Auto -19.9% TLC -10.8% 9

10 MEDIASET Our rich offer Free to Air Tv Pay Tv Web 12 channels 15 channels 1 on-demand service 33 websites 10

11 MEDIASET Our communication strategy Integrated t advertising i campaign - an example Total net reach 71.0% Videoweb reach 10.0% Premium Pay Tv Thematic Free to air Tv reach 40.0 % Generalist Free to Air Tv reach 55.0% Target: adults yrs 11

12 MEDIASET Our communication strategy Integration ti starting ti from content: t Big Brother Social effect 317k like 113k tweet App Gaming 330k download/week Pay Tv (n.m.) Live streams 42k users/day VOD 3mio videostreams/week Web site 1mio unique browsers/day L5 long tail 0.3mio people Canale5 prime time 5mio people day time 1.1mio people Italia1 Sources: Auditel, Census, Social 12

13 MEDIASET Innovation of our advertising products Main examples ALL 21 ALL 24 HOURS SYSTEM X.Y. CONTENT IDENTITY TARGET IDENTITY an advertising slot of 60, broadcasted in the peak of audience simultaneously every evening at on seven Mediaset FTA channels the web extension of All 21. The same All 21 advertising break is streamed on web 24 hours after a cross-media selling strategy that guarantees: maximun reach (Canale 5) targeting (free and pay thematic channels) on demand details (Premium Play, video display) profiling (web) integrated product by genre (e.g. news, entertainment, fiction, sport) integrated product by target (e.g. male, female, young people, children) 13

14 ITALY 1M 2014 Advertising market trend 1M14 vs. 1M13 Total Market Tv Market Mediaset Press Radio Internet* -1.9% +1.6% +1.0% -16.9% +5.1% -3.2% Source: Nielsen, excluding direct mail, only national commercial * Excluding Keyword, search 14

15 Financials

16 MEDIASET GROUP FY 2013 P&L Highlights (Euro ml.) FY 2012 FY 2013 Net Consolidated Revenues Italy Spain 3, , , , EBITDA Italy Spain 1, , , EBIT Italy Spain (235.4) (284.0) NET PROFIT (287.1) 8.9 Group Net Financial Position Italy Spain (1,712.8) (1,786.5) 73.7 (1,459.0) (1,552.5) 5)

17 MEDIASET ITALIAN BUSINESS FY 2013 P&L results (Euro ml.) FY 2012 FY 2013 Net Consolidated Revenues 2, ,588.5 Personnel Costs (515.1) (431.1) Other Operating Costs (1,325.4) (1,114.2) EBITDA ,043.2 Rights Amortisation (1,119.4) (704.3) Other Amortisation & Depreciation (159.0) (162.8) Operating Profit (284.0) Financial Income (Losses) (55.3) (69.9) Associates (0.3) (3.8) Pre-Tax Profit (339.5) Taxes 40.4 (83.5) Minorities (8.3) (11.5) NET PROFIT (307.4)

18 MEDIASET ITALIAN BUSINESS FY 2013 Cash cost target beated Integrated Tv Operating Costs Total cash cost savings (617.2) Italian business Investments (261.7) (355.5) 1, ,449.3(*) (**) FY 2011 FY 2013 FY 2011 FY 2013 Note: Operating Costs includes Personnel and Other operating costs (*) excluding restructuring items (**) excluding Serie A football rights (836.0 mio) 18

19 MEDIASET ITALIAN BUSINESS FY 2013 Integrated Tv activities (Euro ml.) Total Net Revenues Total Gross advertising revenues Commissions Total Net Advertising Revenues Pay Tv Revenues Other Revenues Total Costs Personel costs Other operating costs Total Operating Costs Rights Amortisation Other Amortisation & Depreciation Intra-company items Integrated Tv Activities Operating profit (*) () of which (307.8) ml of restructuring items 19 FY , ,327.2 (341.9) 1, (3,107.3) 3) * (470.0) (1,234.9) (1,704.9) (1,119.4) (108.9) (174.1) (328.5) FY , ,061.5 (301.2) 1, (2,417.2) 2) (388.5) (1,032.7) (1,421.2) (704.3) (115.5) (176.1) 117.7

20 MEDIASET ITALIAN BUSINESS FY 2013 Investments FY 2012 FY 2013 (Euro ml.) Tv rights and cinema Technical & immaterial Total Investments 20

21 MEDIASET ITALIAN BUSINESS FY 2013 Cash flow statement (Euro ml.) FY 2012 FY 2013 Initial Net Financial Position (01/01) Cash Flow from Core Activities Cash Flow from Operations Investments Disinvestments Change in Net Working Capital (CNWC) Equity (investment)/ disinvestment Free Cash Flow Dividends Cashed-in dividends Change in consolidation area Total Net Cash Flow Final Net Financial Position (31/12) (1,917.1)* (1,786.5) , (527.2) (363.7) (288.2) (328.6) (25.7) (113.7) (4.1) (1,786.5) (1,552.5) Group Final Net Financial Position (31/12) (1,712.8) (1,459.0) (*) including (115.2) ml Euro of change in consolidation area 21

22 MEDIASET ITALIAN BUSINESS Cash Conversion Euro ml. Net Consolidated Revenues 3, ,241.6 Cash flow from core activities 2, ,

23 MEDIASET GROUP Net financial position evolution Euro ml. 1, ,890.7 after DMT acquisition 1, , /12/ /01/ /12/ /12/

24 Back up

25 MEDIASET ITALIAN BUSINESS FY 2013 EI Towers (Euro ml.) FY 2012 FY 2013 Total Net Revenues 3 rd Party Revenues Intra-company items Total Costs Personnel Other operating Costs Other Amortisation & Depreciation Intra-company items EI Towers Operating Profit (189.3) (45.0) (90.6) (50.0) (3.7) (174.9) (42.6) (81.5) (47.3) (3.5)

26 MEDIASET SPANISH BUSINESS Back up Slides

27 MEDIASET ESPANA FY 2013 P&L Results (Euro ml.) FY 2012 FY 2013 Net Consolidated Revenues Personnel Costs Other Operating Costs EBITDA Amortisation & Depreciation EBIT Financial Income (Losses) Associates Pre-Tax Profit Taxes Minorities Net Profit Reported (109.3) (104.9) (502.1) (460.8) (226.6) (190.9) (5.5) (3.3) 9.1 (69.2) 52.3 (2.2) 2) (2.8)

28 MEDIASET ESPANA FY 2013 Investments FY 2012 FY 2013 (Euro ml.) Tv rights and cinema Co-production Tangible & Intangible fixed assets Total Investments 28

29 MEDIASET ESPANA FY 2013 Cash Flow Statement (Euro ml.) FY 2012 FY 2013 Initial Net Financial Position Free Cash Flow - Cash Flow from Operations - Investments/Disinvestment t i t t (191.9) 9) (185.7) - Change in Net Working Capital (CNWC) Change in Equity (40.6) 1.2 (55.8) 6.6 Equity (Investments)/Disinvest. Cashed in Dividends (0.6) 2.8 Dividends Total Net Cash Flow Final Net Financial Position (31/12) (55.3)

30 Investor Relations Department: Tel: Fax: WebSite: it/i t 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, Luca Marconcini, 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.