MEDIASET GROUP 1 Quarter 2002 Results 14th May 2002 www.gruppomediaset.it
Tv Consumption (minutes per day) 259 260 258 1Q 2002 1Q 2001 1Q2000 2 Source: Auditel; Target Individuals broadcasting
2002 1st Quarter Audience Share Mediaset very close to RAI in Prime Time 24 HOURS PRIME TIME DAY TIME MEDIASET 43.7% 44.9% 43.3% RAI 46.3% 45.1% 46.6% Source: Auditel Individuals Excluding Sanremo Week 3 broadcasting
2002 1st Quarter Audience Share Leadership on Commercial Target (24 hours) 15-64 15-34 MEDIASET 45.3% 51.7% RAI 43.8% 36.6% Source: Auditel Individuals Excluding Sanremo Week 4 broadcasting
2002 1st Quarter Audience Share CANALE 5: Undisputed Leadership Prime Time Day Time 24h. CANALE 5 25.3% 23.3% 23.7% RAI 1 22.8% 23.0% 23.0% Source: Auditel Individuals Excluding Sanremo Week 5 broadcasting
2002 1st Quarter Audience Share CANALE 5 Leadership in Prime Time Prime Time 25.1% 25.3% 25.5% Canale 5 24.4% 21.4% 22.4% RAI 1 January February March Source: Auditel Individuals Excluding Sanremo Week 6 broadcasting
2002 1st Quarter Audience Share ITALIA1: Growing Audience Shares 12.9% 13.5% PRIME TIME 9.9% 10.1% 11.0% DAY TIME 11.2% January February March Source: Auditel Individuals 7 broadcasting
2002 1st Quarter Audience Share ITALIA1: Growing Audience Shares on younger People 11.9% 15.8% 16.9% PRIME TIME 16.1% 18.1% DAY TIME 18.2% January February March Source: Auditel; Target age 15-34 8 broadcasting
2002 1st Quarter Audience Share Mediaset is Reducing the Gap vs RAI Prime Time 49.5% 49.2% 47.6% 46.0% 7.9% 2.0% 44.0% 43.1% 41.6% 42.2% RAI Mediaset 1999 2000 2001 1 Q 2002 Source: Mediaset, Auditel Total Viewers 9 broadcasting
Publitalia: TV Advertising Revenues (ml Euro) -3.7% 692.1 719.1 678.0 1Q 2002 1Q 2001 1Q 2000 10 advertising
Mediaset: 3rd Party Advertising Revenues (ml Euro) -3.2% 684.2 706.8 665.3 1Q 2002 1Q 2001 1Q 2000 Including Promoservices 11 advertising
Publitalia: Advertising Demand Trend NEW CLIENTS IN 1st QUARTER 2002 New Clients Revenue Average Inv. 73 22 ml Euro 0.30 ml Euro 12 advertising
Mediaset: Advertising Investments by Sector 1Q 2002 1Q 2001 FOOD NO FOOD AUTOMOTIVE TELECOM FINANCE/ INSURANCE MEDIA / PUBLISHING OTHERS -10.1% +20.8% +2.2% -12.2% -1.6% -24.9% -1.6% +19.0% -8.5% +7.4% -13.9% +88.2% -8.5% +9.5% 13 advertising
Mediaset: Advertising Investments by Sector (%) No Food 18.0% Automotive 11.5% Food 30.2% 1Q 2002 Others 22.3% Telecom 7.6% Finance 3.1% Media 7.3% Automotive 10.8% No Food 14.4% Food 32.3% 1Q 2001 Others 21.8% Telecom 8.4% Finance Media 3.0% 9.4% 14 advertising
Mediaset: Focus on No Food (ml Euro) Weights 1Q 2002 vs 1Q2001 COSMETICS 4% 27.8 +36.3% HOME CLEANSING 7% 48.3 +20.3% TOILETRIES 7% 48.7 +13.8% 15 advertising
2002 1st Quarter TV Advertising Market European Trend 1,6-4 -9,8-10,4 2,3-1,7-5,7-7,5-7,4 4,5-1,3-1,8-4,1-15,9-16,2 January February March Italy Germany France Spain U.K. 16 advertising
Publitalia TV Advertising Revenues Quarterly Growth Trend (ml Euro) % on Total 2001 Revenues 2000 vs. 1999 2001 vs. 2000 2002 vs. 2001 1 Q 29.2% +17.5% +6.0% -3.7% 2 Q 29.6% +12.8% +2.7% 3 Q 15,3% +13.6% -1.4% 4 Q 25.9% +6.1% -7.8% 17 advertising
MEDIASET GROUP 1st Quarter 2002 Financial Results www.gruppomediaset.it
Mediaset Group 1Q2002 Results (m ) 1Q2002 1Q2001 1Q2000 Net Consolidated Revenues 633.6 672.1 619.4 Personnel Costs (76.2) (73.5) (69.0) Operating Costs (172.5) (187.3) (158.0) EBITDA 384.9 411.4 392.4 Amortization and Depreciation (188.5) (167.9) (158.0) EBIT 196.4 243.5 234.4 Pre-tax Profit 180.6 214.5 227.6 19 financials
Mediaset Group Italian Business 1Q2002 Results (m ) 1Q2002 1Q2001 1Q2000 Net Consolidated Revenues 633.6 660.8 608.7 Personnel Costs (76.2) (72.9) (68.5) Operating Costs (172.5) (178.0) (148.8) EBITDA 384.9 409.9 391.3 Amortization and Depreciation (188.5) (165.8) (156.0) EBIT 196.4 244.1 235.3 Pre-tax Profit 180.6 218.5 230.2 20 financials
Mediaset Financial Overview Italian Business Revenues (m ) 1Q2002 1Q2001 1Q2000 Total Net TV Revenues 612.2 639.9 593.6 Advertising (third parties) 683.1 705.3 664.6 Other TV Operations 31.8 39.2 25.9 Commissions (102.7) (104.7) (96.9) Total Net Multimedia Revenues 7.5 8.1 2.9 Non - TV Operations 13.9 12.9 12.2 TOTAL Net Revenues 633.6 660.8 608.7 21 financials
Mediaset Financial Overview Italian Business Operating Costs (m ) 1Q2002 1Q2001 1Q2000 Total TV Costs (156.2) (165.0) (139.8) Commercial costs (19.2) (24.4) (20.2) In-house production (115.9) (117.9) (98.2) Transmission costs (8.4) (7.5) (8.1) Overheads (12.7) (15.2) (13.3) Multimedia activities (6.6) (5.0) (1.9) Other non Tv costs (9.7) (8.0) (7.1) TOTAL Operating Costs (172.5) (178.0) (148.8) 22 financials
Mediaset Financial Overview Italian Business Amortisation & Depreciation (m ) DEPRECIATION AND OTHER AMORTISATION 188.5 22.5 +13.7% +28.7% 165.8 17.4 +11.9% TV RIGHTS AMORTISATION 166.0 148.4 1Q2002 1Q2001 23 financials
Mediaset Financial Overview 1Q 2002 Operations Overview (ml ) Total Net Revenues Ebit Ebit Margin TV Operations 600.0 197.4 32.9% MULTIMEDIA Operations 7.5-3.9 n.a. NON TV Operations 13.9 2.8 20.1% 621.4(*) 196.4 31.0% (*) excluding Sale of Rights 24 financials
Mediaset Financial Overview Focus on TV Operations (ml ) 1Q2002 1Q2001 1Q2000 Total Net TV Revenues Advertising (3rd parties) Other TV Revenues (*) Commissions 600.0 683.1 19.6 (102.7) 627.7 705.3 27.1 (104.7) 590.4 664.6 22.8 (96.9) Total TV Costs Personnel Other operating costs Amort. & Depreciation Sale of Rights (402.6) (73.3) (156.2) (185.2) 12.1 (386.9) (70.5) (165.0) (163.6) 12.2 (359.2) (66.9) (139.8) (155.6) 3.1 EBIT from TV Operations 197.4 240.8 231.3 margin 32.9% 38.4% 39.2% (*) excluding Sale of Rights 25 financials
Mediaset Financial Overview Cost Control Program Already Getting On (m ) Total Net TV Revenues 590.4 627.7 +6.3% 600.0-4.4% Total TV Costs +7.7% +4.1% 359.2 EBIT from TV Operations 386.9 231.3 240.8 +4.1% 402.6 197.4-18.0% 1Q2000 1Q2001 1Q2002 26 financials
Mediaset Financial Overview Focus on Multimedia Operations (m ) 1Q2002 1Q2001 1Q2000 Total Multimedia Revenues 7.5 8.1 2.9 Thematic Channels 5.3 5.6 1.4 Teletext 0.9 1.1 0.9 Internet 1.2 1.4 0.6 Total Multimedia Costs (11.4) (8.0) (2.8) Personnel (1.7) (1.3) (0.5) Other Operating Costs (6.6) (5.0) (1.9) Amort. & Depreciation (3.0) (1.8) (0.4) EBIT from Multimedia Op. (3.9) 0.0 0.2 27 financials
Mediaset Financial Overview Focus on Non-TV Operations (m ) 1Q2002 1Q2001 1Q2000 Total Non TV Revenues 13.9 12.9 12.2 Total Non TV Costs (11.1) (9.6) (8.3) Personnel (1.2) (1.2) (1.1) Other Operating Costs (9.7) (7.9) (7.1) Amort. & Depreciation (0.2) (0.5) (0.1) EBIT from Non TV Operations 2.8 3.3 3.9 28 financials
Mediaset Group Associated Companies, Net Financial Income (Charges), Extraordinaries (m ) TELECINCO (40% stake) ALBACOM (19.5% stake) Others TOTAL Associates 1Q2002 (4.4) (5.5) (0.2) (10.1) 1Q2001 3.0 (11.9) (1.1) (10.0) Net Financial Income/ (Charges) (6.0) (19.0) Total Extraordinary Items 0.3 (0.1) 29 financials
Mediaset Financial Overview Investments (m ) 1Q2002 = 120.5 1Q2001 = 255.2 112.1 8.4 242.7 12.5 Associates TV Rights Technical & Immaterial 30 financials
Mediaset Financial Overview Net Financial Position and Cash Flow Generation (ml ) Consolidated Net Financial Position Consolidated Net Free Cash Flow 200.5* 73.4-47.3 1Q 2002 1Q 2001-247.8 1Q 2002 FY 2001 (*): 94.6 ml excluding the proceeds from the sale of Blu (+105.9m ) 31 financials
Core Business International TV Business www.gruppomediaset.it
Telecinco: Audience Share Leader in Commercial Target 1Q2002 1Q2001 others 34.6% 20.8% others 34.1% 23.4% 21.9% 22.7% 20.5% 22.0% 33 broadcasting
Telecinco Spanish TV Advertising Market (m ) 1Q 2002 = 448.3 1Q 2001 = 514.4 1.6% 14.8% 24.3% 1.6% 15.4% 27.1% 27.5% 24.3% 5.8% 26.0% 5.0% 26.7% Source: Adex Nielsen, Publiespana 34 advertising
Telecinco 1Q2002 Consolidated Financial Results (m ) 1Q2002 1Q2001 1Q2000 Net Revenues 107.8 132.3 136.1 Operating Costs (104.7) (98.0) (93.2) EBIT 3.1 34.3 42.9 Pre-tax Profit (0.9) 30.2 39.7 35 financials
Telecinco Consolidated Net Financial Position (ml Euro) 144.8 132.0 1Q 2002 FY 2001 36 financials