2010 First Half Results Presentation. 29 th July 2010

Transcription

1 2010 First Half Results Presentation 29 th July

2 ITALY TV Consumption trend ( ) Average Daily minutes Individuals years Source: Auditel (1 January 31 May of each year) Broadcasting 2

3 MEDIASET M Commercial target Audience Share (15-64 yrs, January-May) Hours 35.7% 42.3% 33.8% 39.5% Prime Time 39.2% 41.9% 37.4% 39.5% Source: Auditel Broadcasting 3

4 MEDIASET M Audience Share Guaranteed audience period (10 January-31 May) Prime Time Guaranteed target Audience MEDIASET 40.7% 39.9% Day Time Canale 5 Italia 1 Rete 4 MEDIASET 23.1% 11.3% 6.3% 41.3% 22.9% 10.3% 6.7% 40.0% Canale 5 Italia 1 Rete % 11.7% 6.9% 21.8% 11.2% 7.0% Source: Auditel, years Broadcasting 4

5 MEDIASET Multichannel Audience Share 24 Hours Individuals 11/1-30/ /1-29/ MS DTT(Free+Pay) RAI DTT* SKY Channels FOX Channels Disney Turner Discovery n.a. 0.5% 3.2% 1.6% 0.5% 0.3% 0.4% 3.8% 2.7% 2.9% 1.7% 0.9% 0.4% 0.3% Source: Company elaborations on Auditel data Broadcasting 5

6 MEDIASET M Audience Share 24 hours Generalist (C5+I1+R4) Multichannel FTA (6) Subtotal Pay TV Channels Total Individuals 36.7% 2.1% 38.8% 1.7% 40.5% yrs 39.5% 2.1% 41.6% 2.0% 43.6% Generalist (R1+R2+R3) Multichannel FTA (11) Total 39.1% 2.7% 41.8% 33.8% 3.0% 36.8% Source: Auditel (1 January 31 May 2010); Pay TV Channels, Company elaborations on Auditel data Broadcasting 6

7 Advertising 7

8 MEDIASET H Advertising revenues Euro ml +5.3% 1, , H H 2010 Advertising 8

9 ITALY M Advertising market trend 5M2010 vs. 5M2009 Total Market* Mediaset Total Market excluding Mediaset Rai Newspapers Magazines Radio Internet** +3.7% +6.6% +2.1% +2.7% -0.2% -9.3% +14.6% +11.6% Source: Nielsen (January-May) * Excluding Cards, Out-of-home, Direct Mail * * Excluding keywords, search advertising Advertising 9

10 MEDIASET H Recovery of Fast Moving Consumer Goods 1H 09 vs. 1H 08 1H 10 vs. 1H 09 Food -17.4% +12.4% FOOD BEVERAGES -17.5% -17.0% +17.9% -2.2% Non-Food -8.9% +12.4% PERSONAL CARE HOUSEKEEPING TOILETRIES Total Grocery -12.4% -15.0% -0.9% -14.3% +11.4% +21.3% +6.2% +12.4% Advertising 10

11 MEDIASET H Advertising Breakdown by Sector 1H 09 vs. 1H 08 1H 10 vs. 1H 09 TELECOM AUTOMOTIVE FINANCE/INSURANCE MEDIA/PUBLISHING +5.6% -10.7% -8.0% -28.3% +0.6% +4.1% -15.8% -20.4% Advertising 11

12 MEDIASET H Advertising Breakdown by Sector 1H 09 vs. 1H 08 1H 10 vs. 1H 09 HOUSEHOLD APPLIANCES CLOTHING RETAIL -34.1% -38.2% -16.7% +65.9% +29.2% +30.8% Advertising 12

13 MEDIASET H New business activity Active clients New clients H2009 1H2010 1H2010 vs. 1H2009 Top % 28.8% +6.4% Top % 51.1% +5.3% Advertising 13

14 14

15 MEDIASET GROUP H P&L Highlights (Euro ml.) Net Consolidated Revenues 1H , H ,277.8 EBITDA ,084.2 EBIT NET PROFIT (Reported) NET PROFIT (Adjusted*) Group Net Financial Position (1,761.0) (1,476.3) * Excluding the net impact of the amortisation of intangibles related to the PPA of Endemol 15

16 Italian Business 16

17 MEDIASET ITALIAN BUSINESS H P&L Results (Euro ml.) 1H H 2010 % Var Net Consolidated Revenues 1, , % Personnel Costs (220.4) (228.0) Other Operating Costs (654.1) (728.3) EBITDA % Rights Amortisation (410.7) (443.2) Other Amortisation & Depreciation (65.9) (78.7) Operating Profit % Financial Income (Losses) (20.9) (12.7) Associates 1.1 (2.1) Pre-Tax Profit Taxes (101.2) (129.3) NET PROFIT % 17

18 MEDIASET ITALIAN BUSINESS H Operations Breakdown (Euro ml.) Total Net Revenues Total Costs (including D&A) Operating Profit FTA TV 1,278.8 (939.2) Network Operator 98.7 (102.8) (4.1) Pay TV (402.7) (8.8) Other Activities (170.6) 18.1 Intra-company Eliminations (74.1) Adjustments (68.9) 63.1 (5.8) TOTAL 1,817.2 (1,478.2)

19 MEDIASET ITALIAN BUSINESS H FTA TV Operations (Euro ml.) 1H H 2010 Total Net TV Revenues TV Advertising Revenues Multichannel Adv. Revenues Commissions Other TV Revenues Net Intra-company items Total TV Costs Personnel TV Operating Costs TV Rights Amortisations Other A&D Net Intra-company Items FTA TV Operating Profit margin 1, , (204.1) (939.1) (182.8) (389.3) (297.1) (29.6) (40.2) % 1, , (216.5) (939.2) (189.1) (402.6) (283.3) (21.2) (43.1) % 19

20 MEDIASET ITALIAN BUSINESS H 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 1H (92.9) (18.3) (48.0) (26.6) H (102.8) (18.9) (52.4) (31.5) (4.1) 20

21 MEDIASET PREMIUM Active Clients 4,431,000 3,725,000 3,574, Season Season 2,911,000 Jul 31Dec 30Jun Source: Company data, until 30 June

22 MEDIASET ITALIAN BUSINESS H 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 1H (2.0) (289.9) (6.4) (138.3) (121.4) (23.7) (20.8) 1H (4.8) (402.7) (9.3) (180.8) (186.2) (26.4) (8.8) 22

23 MEDIASET ITALIAN BUSINESS H Other Activities (Euro ml.) Total Net Revenues Medusa/Taodue 3 Party revenues Medusa/Taodue intra-company revenues Multimedia Mediashopping Other Non-TV Revenues Net Intra-company items Total Costs Personnel Other Operating Cost Right Amortisations and other D&A Intra-company Items Other Activities Operating Profit 1H (165.1) (12.8) (92.3) (57.0) (3.0) H (170.6) (10.7) (101.8) (53.5) (4.7)

24 MEDIASET ITALIAN BUSINESS H Investments 1H H 2010 (Euro ml.) TV rights and cinema Pay TV rights DTT Technical & immaterial Total Investments 24

25 MEDIASET ITALIAN BUSINESS H Cash Flow Statement (Euro ml.) 1H H 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 Change in consolidation area Cashed in Dividends Dividends Total Net Cash Flow Final Net Financial Position (30/06) Group Net Financial Position (30/06) (1,345.8) (385.9) 1.1 (164.6) (1.5) (431.9) (211.2) (1,557.0) (1,761.0) (1,396.0) (452.0) 1.4 (36.7) (250.0) 19.5 (1,376.5) (1,476.3) 25

26 MEDIASET SPANISH BUSINESS Back up Slides 26

27 TELECINCO H 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** 1H (39.4) (113.9) (73.5) (39.0) H (39.0) (198.7) (77.1) (20.5) (28.1) * Including in 2010 the reversal of a provision for 8 mio; in 2009 the reversal of a provision of 35 mio **Excluding the net impact of the amortisation of intangibles related to the PPA of Endemol 27

28 TELECINCO H Investments (Euro ml.) 1H H 2010 TV rights Co-production & Distribution Tangible & Intangible Fixed Assets Total 82.6 Investments 28

29 TELECINCO H Cash Flow Statement (Euro ml.) Initial Net Financial Position (01/01) Free Cash Flow Cash Flow from Operations Net Investments Change in Net Working Capital (CNWC) Change in Equity Equity (Investments)/Disinvest. Cashed in Dividends Dividends Total Net Cash Flow Final Net Financial Position (30/06) 1H 2009 (25.8) (92.0) (41.0) (2.5) (0.4) 1.4 (210.3) (178.2) (204.0) 1H 2010 (156.0) (79.8) (27.9) 1.0 (48.4) 56.3 (99.7) 29

30 MEDIASET GROUP H Net Profit Adjustment (Euro ml.) 1H H 2010 NET PROFIT (Reported) Edam Adjustments from Telecinco Telecinco Minorities (5.8) (3.4) Net Edam PPA Adjustment Adjusted NET PROFIT

31 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. 31