2016 1Q Results Presentation. Milan, 10 th May 2016

Transcription

1 2016 1Q Results Presentation Milan, 10 th May 2016

2 Broadcasting & Advertising

3 ITALY 1Q 2016 Advertising overview MEDIASET PERFORMANCE ON ADVERTISING CORE BUSINESS AUDIENCE CORE CHANNELS VS MULTICHANNEL REVENUE PROGRESSIVE, TREND & COMPETITIVE DYNAMICS SECTOR ANALYSIS PENETRATION & PERFORMANCE 3

4 ITALY 1Q 2016 TV Audience share Core channels vs Multichannels Commercial Target, 15-64, 24 hours Q AND ACTUAL PROGRESSIVE UPDATED MAY 7TH Rai 0,4 32,3 La7 0,2 2,9 36,0 Mediaset 1,7 Q1 1,2 A.P. CORE CHANNELS Mediaset Rai La7 MULTICHANNELS Q ,0 26,1 2,2 ACT.PROGR ,8 25,8 2,3 Other 0,1 12,0 7,6 Discovery +1,2 Q1 +0,9 A.P. 9,2 Sky+Fox +1,2 Q1 + 1,0 A.P. Mediaset DTT (Free+Pay) Rai DTT Discovery** Sky Channels Fox Channels La7 D 9,0 6,2 7,6 7,5 1,7 0,7 9,0 6,1 7,4 7,2 1,6 0,7 Source: Auditel 4

5 ITALY 1Q 2016 Advertising revenues Core channels vs Multichannels JF2016 VS JF 2015 Rai 0,0 pts 22,1 La7 0,1 pts 4,1 CORE CHANNELS Mediaset Rai La7 J F 2015 J F ,1% 66,4% 27,7% 28,4% 5,2% 5,2% Discovery +0,7 pts Sky+Fox +0,7 pts 5,9 12,8 55,2 Mediaset 1,3 pts MULTICHANNELS FREE Mediaset Rai Discovery Sky La7d 33,2% 12,4% 35,5% 15,7% 3,2% 31,0% 11,5% 35,9% 18,6% 3,0% MULTICHANNELS PAY Mediaset Discovery Sky 20,6% 1,4% 77,9% 23,0% 1,6% 75,4% Source:Nielsen 5

6 ITALY 1Q 2016 Advertising revenues Core channels trend Mediaset is the only broadcaster reaching and overtaking 2014 revenues JAN FEB COMPARISON 2014 ml 2015 ml % VAR 15 VS ml VAR% 16 VS 15 VAR% 16 VS 14 TOT. BROADCASTERS 502,0 474,7 5,4% 496,3 4,5% 1,2% MEDIASET 335,3 324,0 3,4% 336,7 3,9% 0,4% RAI 138,8 126,8 8,7% 134,6 6,1% 3,1% LA7 27,9 23,9 14,4% 25,0 4,8% 10,3% Source: Nielsen 6

7 MEDIASET 1Q 2016 Total advertising revenues Euro ml 484,6 + 2,8% Euro ml 498,1 Q Q Source: Mediaset 7

8 ITALY 1Q 2016 Trade and consumption AdEx Jan-Feb 2016 vs 2015 Volume 2M16 vs 2M15 FMCG Food Housekeeping Personal care BRANDED FMCG PRIVATE LABEL AUTOMOTIVE CLOTHING TELECOMS SALES +0,9% +1.3% +1.0% 0,5% 0,4% +5,1% +22,6% +0,7% +9,5% ADEX +2.6% +3,2% 4,4% +4,5% +2.6% +1,9% +0,1% +20,9% Source: Nielsen, Confcommercio, UNRAE 8

9 ITALY 1Q 2016 Advertising Breakdown by Sector Jan-Feb 2016 vs 2015 Retail 1.5% Pharma 15.2% Media 13,7% Other +6,4% 4.0% 11.0% 6.2% Auto +4.4% 12.4% 13.9% Source: Source Nielsen and Internal Data Finance 5.0% 3.7% 11.8% TLC +56.4% 22.4% 14.5% MDS TREND better than Total Adv Market MDS SHARE better than Total Adv Market Food +4.1% No Food +2.1% 9

10 MEDIASET 1Q 2016 Advertising revenues trend Performance consolidation- 12 months of positive revenues JAN APR +4,7 10,6 0,3 6,7 1,4 6,4 3,4 % Var 2,4 1,7 4,5 2,8 Q1 +2,8 5,0 1,2 +3,5 ROLLING YEAR MAY 15 APR 16 Source: AC Nielsen 10 Easter March2016 vs April2015

11 Financials

12 MEDIASET GROUP 1Q 2016 P&L Highlights (Euro ml.) Net Consolidated Revenues Italy Spain 1Q 2015* Q EBITDA Italy Spain EBIT Italy Spain NET PROFIT from Continuing Operations NET PROFIT (reported) (0.1) (18.0) Group Net Financial Position Italy Spain (623.6) (923.2) (908.1) (1,076.2) * 2015 figures has been restated on a pro-forma basis, excluding the Discontinued Operations contribution on Integrated Activities numbers 12

13 MEDIASET ITALIAN BUSINESS 1Q 2016 Integrated Tv activities (Euro ml.) Total Net Revenues Total Gross advertising revenues Commissions Total Net Advertising 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 1Q 2015* (70.9) (498.5) (90.6) (233.8) (324.4) (115.0) (14.9) (44.2) (14.8) 1Q (72.8) (520.1) (93.4) (240.0) (333.4) (128.4) (14.0) (44.2) 18.4 * 2015 figures has been restated on a pro-forma basis, excluding the Discontinued Operations contribution 13

14 MEDIASET ITALIAN BUSINESS 1Q 2016 Investments 1Q 2015* 1Q 2016 (Euro ml.) 98.4 TV rights and cinema Technical & immaterial Total Investments * 2015 figures has been restated on a pro-forma basis, excluding the Discontinued Operations contribution 14

15 MEDIASET ITALIAN BUSINESS 1Q 2016 Cash flow statement (Euro ml.) 1Q 2015* 1Q 2016 Initial Net Financial Position (01/01) Cash Flow from Core Activities Cash Flow from Operations Investments Disinvestments Change in Net Working Capital (CNWC) Free Cash Flow from Discontinued Operations Equity (investment)/ disinvestment Change in consolidation area Total Net Cash Flow Final Net Financial Position (31/03) (1,127.0) (103.2) (1.5) 91.5 (1.6) (923.2) (1,051.8) (215.3) (91.8) (2.5) (10.9) (24.4) (1,076.2) Group Final Net Financial Position (31/03) (623.6) (908.1) * 2015 figures has been restated on a pro-forma basis, excluding the Discontinued Operations contribution 15

16 Back up

17 MEDIASET ITALIAN BUSINESS 1Q 2016 P&L results (Euro ml.) 1Q 2015* 1Q 2016 Net Consolidated Revenues Personnel Costs Other Operating Costs EBITDA Rights Amortisation Other Amortisation & Depreciation Operating Profit Financial Income (Losses) Associates Pre-Tax Profit Taxes Minorities NET PROFIT from Continuing Operations NET PROFIT (reported) (101.6) (255.0) (115.0) (24.2) 2.4 (13.8) (0.2) (11.5) 0.6 (6.0) (16.8) (16.2) (104.2) (260.5) (128.4) (23.0) 39.9 (7.1) (12.2) (7.6) 13.6 (43.0) * 2015 figures has been restated on a pro-forma basis, excluding the Discontinued Operations contribution 17

18 MEDIASET ITALIAN BUSINESS 1Q 2016 EI Towers (Euro ml.) 1Q Q 2016 Total Net Revenues Third-Party Revenues Intra-company items Total Costs Personnel Other operating Costs Other Amortisation & Depreciation Intra-company items EI Towers Operating Profit (42.2) (11.0) (21.2) (9.3) (0.7) (41.2) (10.8) (20.6) (9.0) (0.8)

19 MEDIASET SPANISH BUSINESS Back up Slides

20 MEDIASET ESPANA 1Q 2016 P&L Results (Euro ml.) 1Q Q 2016 Net Consolidated Revenues Personnel Costs Other Operating Costs EBITDA Amortisation & Depreciation EBIT Financial Income (Losses) Associates Pre-Tax Profit Taxes Net Profit (25.9) (110.6) 84.2 (42.1) (11.3) (24.8) (89.3) (51.1) 65.6 (0.5) (0.8) 64.2 (14.2)

21 MEDIASET ESPANA 1Q 2016 Investments 1Q Q 2016 (Euro ml.) Tv rights and cinema Co-production Tangible & Intangible fixed assets Total Investments 21

22 MEDIASET ESPANA 1Q 2016 Cash Flow Statement (Euro ml.) 1Q Q 2016 Initial Net Financial Position Free Cash Flow - Cash Flow from Operations - Investments/Disinvestment - Change in Net Working Capital (CNWC) Change in Equity Equity (Investments)/Disinvest. Cashed in Dividends Dividends Total Net Cash Flow Final Net Financial Position (31/03) (83.9) 41.3 (2.4) (13.3) (105.3) (92.5) - - (24.3)

23 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, 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.