ProSiebenSat.1 Group The power of television. Financial Year 2007

Transcription

1 ProSiebenSat.1 Group The power of television Financial Year 2007 Guillaume de Posch, Chief Executive Officer Patrick Tillieux, Chief Operating Officer Lothar Lanz, Chief Financial Officer Peter Christmann, Sales & Marketing Dr. Marcus Englert, New Media Munich, March 4,

2 Agenda Highlights 2007: A new growth dimension for ProSiebenSat.1 Financial Statements: Business performance 2007 Outlook: Further expansion of the Group Appendix 2

3 ProSiebenSat.1 a pan-european broadcasting champion 13 countries 77 million TV households 200 million viewers 3

4 Fiscal 2007: ProSiebenSat.1 Group shows strong performance SBS consolidation produces rise in revenues and earnings International business grows strongly Good operational performance in German-speaking region Consolidated revenues increase by 29.0 percent to EUR billion Recurring EBITDA rises 36.3 percent to EUR million Underlying net income is EUR million Federal Cartel Office fine and PPA* affect profits Outlook: Integration and synergies on schedule, pan-european Group reaffirms ambitious goals Figures 2007 preliminary and unaudited. *PPA=purchase price allocation. 4

5 Diversification of revenues, less dependency on single markets Strong market position in Europe Activities in 13 countries Top-3 market position with TV brands in all regions 26 Free TV stations in 12 countries 24 Pay TV stations in 6 countries New Media: Online/VoD/Mobile 14 radio networks and 8 standalone stations in 7 countries Print in The Netherlands 2007 revenues by region Pro forma combined 13% 15% 5% 67% (2006: 100%) D/A/CH Nordic NL/Belgium CEE 2007 revenues by business unit Pro forma combined 17% 83% (2006: 89%) Free TV Diversification Figures 2007 preliminary and unaudited. 5

6 ProSiebenSat.1 Group: Fiscal 2007 at a glance Jan Feb Mar May June July Aug Sep Oct Dec Events Acquisitions New film deal with Warner Bros Corporate KKR/Permira new majority shareholder ProSiebenSat.1 wins declaratory judgment New ProSiebenSat.1 intranet goes online Settlement with FCO, new sales model introduced in German market 6

7 German TV advertising market: Net TV ad investments Low consumer spending dampens growth of TV ad investments in In EUR bn % *% +4.7% % e Source: ZAW, 2007e: ProSiebenSat.1 Media AG. *ZAW data for 2005 is not comparable due to the change of the assessment basis from the previous year. ProSiebenSat.1 Media AG therefore calculates with adjusted data and assumes an actual growth rate of 0.5%. 7

8 ProSiebenSat.1: Free TV German-speaking region Revenues in German-speaking region with good growth. External Free TV revenues ProSiebenSat.1 in D/A/CH In EUR bn % , , Figures 2007 preliminary and unaudited. Sat.1, ProSieben, kabel eins, N24. 8

9 Top 5 driving industries 2007 Development of the top driving TV advertising industries in Germany (growth in EUR m) Industry Share of TV ad market 2007 Dev. vs in % Dev. vs in EUR m Background information TV ad trend 2007 Retail & mail order 5.1% 17.2% 65 Higher advertising investments by trading companies (Edeka, REWE, Karstadt), special mail order (Kotel, GetMobile) and e-commerce (wetter.com, Dt.Bahn) Media 8.3% 9.9% 65 Finance 13.4% 13.4% 64 Energy 0.9% 213.7% 51 Key drivers are Premiere, SevenOne Intermedia, ProSieben, Warner Music Group,Warner Bros Pictures and some Print-publishing-houses. Growth driven by insurances (e.g. KarstadtQuelle Krankenversicherungen, Allianz, Zurich Connect), retirement provisions (R+V Versicherung, Hamburg Mannheimer) and financial assets (Comdirect, Citibank, ABN AMRO). Top investors in this sector rediscover TV for brand building: RWE (+18 EUR m), E.ON (+17,0 EUR m) and Evonik (+11,5 EUR m). Motor vehicles 8.1% 7.7% 51 Anti-cyclical investment behaviour especially by Nissan, Skoda, Chrysler, BMW, Peugeot and Citroen. Source: Nielsen Research, SevenOne Media. 9

10 Top 5 driving industries 2008 Development of the top driving TV advertising industries in Germany (expected growth) Share of TV Industry ad market Background information 2007 Personal care 12.2% Key driver 2008: anti-aging products, natural and men's cosmetics. High degree of innovation drives advertising activity. Brands are expected to grow vs. private labels. TV ad trend 2008 (2) Motor vehicles 8.1% 2008 with backlog demand. Higher advertising activity also to counteract sensitivity to higher fuel prices, motor vehicle tax and CO2-debate. IT & communication 7.4% Demand for modern IT & communication devices and upgrading of connectivity (DSL, IPTV, flat rates) will continously grow further in Finance 6.2% Higher advertising activity especially based on private banking, pension plans, capital gains tax. Retail & mail order 5.1% In 2008 upswing expected [higher private consumption due to more employment and higher incomes]. Retail companies are increasingly using TV advertising to support their brand management. (2) estimate. Source: Nielsen Media Research, SevenOne Media. 10

11 European TV advertising markets in 2007 Strong market dynamics in the former SBS regions. TV advertising investments Change 07 vs 06 in percent NL Belgium Sweden Norway Denmark Finland Hungary Romania Sources: Norway/Hungary: AGB Nielsen Media Resarch (gross). NL: SPOT organisation (net revenue before agency commission). BE: CIM (gross). Sweden: IRM (net). Denmark: DRRB (Danish Association of Communication Agencies) (net). Finland: TNS Gallup Ad Web (net). Romania: Company info benchmarked with CME quarterly reports (net). No data for Bulgaria available. Several methodical differences between countries and sources. Note: Q estimated. 11

12 Free TV in The Netherlands and Belgium: Best performance ever ProSiebenSat.1 is No. 2 Free TV operator. Successful multi-channel play in a very healthy TV ad market. Netherlands Dutch stations with most successful year in company s history NET 5, SBS 6 and Veronica together achieve an all-time record average market share of 26.3% (key demographic 20-49), up 9% compared to prior year figure (2006: 24.2%) in a very competitive market. Commercially attractive combination of multi-channel. Belgium Flemish stations VT4 and VIJFtv benefit from multi-channel play VT4 reaches best prime time figures ever with a stable market share of 13% (key demographic 15-44) VIJFtv complements VT4 well commercially 12

13 Free TV Nordic region: Strengthened with launch of 3 new stations ProSiebenSat.1 is No. 2 Free TV operator in Norway and Sweden and No. 3 Free TV operator in Denmark. Denmark Sweden Reduction of Kanal 4 s reach (limited to cable & satellite distribution only) Launch of new station SBS Net in Jan 07 (on freed-up terrestrial network): Target group: general audience between 21-50, skewed male Kanal 5 becomes first Danish HD channel Launch of new station Kanal 9 in Feb 07 Target group: general audience between Start of multi-channel play Norway Launch of new station FEM in Sept 07 Target group: female Finland Music station VoiceTV in Finland beats MTV with 1,8% viewing share 13

14 Free TV in CEE strengthened ProSiebenSat.1 is No. 2 Free TV operator in Hungary and No 3 Free TV operator in Romania. Hungary Hungary s TV2 has highest national market share Hungary s TV2 has highest national market share of all ProSiebenSat.1 individual stations, achieving 23.6% in key demographic Romania Strongest market dynamics of all ProSiebenSat.1 markets TV advertising with almost 50% growth PrimaTV consistently No. 3 in Romanian market with 7,6% in key demographic 14

15 Diversification: No. 2 European multi-national radio operator High margin business in strong markets and high upward potential in CEE. Improving performances over entire footprint Strenghtening of operations by Consolidation in Sweden and Romania Establishment in Bulgaria New management team in Denmark High growth markets in CEE Source: Company data. Annual Reports, RTL, NRJ, Lagardère. 15

16 Diversification: Leading Dutch weekly magazine Veronica Magazine is the No. 1 weekly magazine in the Netherlands by far. Total Circulation of Consumer Magazines * * Strong margin and high cash flow profile Stable business Launch of bi-weekly tv guide TotaalTV Source: Company data, HOI Q The name of TVSatellite has been changed into Totaal TV in January *Total Circulation of Consumer Magazines (paid). 16

17 Diversification: CMore leading Nordic premium Pay TV CMore shows highest growth since 2000 and nears 1 million subscriber mark. Large and growing subscriber base up to subscribers Subscribers In Thd 1200 Stable ARPU Unique premium content offering Exclusivity output deals with 6 out of 8 Hollywood studios Exclusive rights to most prominent and high-end sports leagues

18 Diversification: Strong online presence in Germany ProSiebenSat.1 Networld with 2.3bn page impressions No 1 online network ProSiebenSat.1 with 17.53m unique users No 3 online marketer Source: AGOF Internet facts 2007 III (Q3/2007) in terms of unique users and IVW Jan 2008 regarding page impressions 18

19 Diversification: Becoming a major player in online Germany Top 10 marketers UU in m Top 20 sites UU in m United Internet Media AG InteractiveMedia CCSP SevenOne Interactive TOMORROW FOCUS AG No 3 T-Online WEB.DE Yahoo! MSN GMX ProSieben freenet RTL.de No 6 mediasquares&ad pepper Yahoo! Deutschland AdLINK Media Germany IP Deutschland AOL Digital Marketing Group MyVideo MeineStadt AOL auvito Map24 Spiegel Online DasTelefonbuch wetter.com CHIP Online No 9 No 16 Microsoft Digital Advertising 8.88 Das Örtliche Bild.de mobile.de 3.73 Source: AGOF Internet facts 2007 III (Q3/2007). 19

20 Diversification: Online expansion through acquisitions The Group continued its expansion on the Internet with further investments in Internet portals in In July ProSiebenSat.1 fully acquires user generated video content platform MyVideo, increasing stake to 100 percent. Largest German-speaking video community on the Internet Traffic: 6.6m unique users Acquisition of 74.8% in 2007 Germany s largest online knowledge platform Traffic: 12.5m visits and 20.5m page impressions in January, 2008 Acquisition of about 75 percent in February 2007 Germany's second largest price comparison portal Traffic: 2.8m unique users Innovative marketing started in April 2007 Source: AGOF Internet facts 2007 III (survey period: Q3 2007), Remark: wer weiss was is not measured/included in AGOF and IVW for wer-weiss-was 20

21 Diversification: Leading content provider for mobile TV Mobile will be the third screen for the consumer. MobileTV Leading distributor of mobile TV content in German speaking countries ProSiebenSat.1 as innovator offering mobile TV since mobile TV channels via UMTS 3 mobile TV channels via DVB-H (Start June 2008) Podcasting Video-Podcasting initiative since September 2007 More than 35 Video-Podcasts titles with approx. 2.5 million downloads in January 2008 Ad-based model, offering new and innovative forms of advertising Mobile Internet Biggest German network of Mobile Internet sites with 9 different brands More than 2 million Page Impressions per month monthly video downloads on MyVideo Mobile Widely accepted business model with mobile advertising integrated in all offerings 21

22 Diversification: Strongest growth of any music label in Germany ProSiebenSat.1 s starwatch music is the second-largest German domestic label by market share. Roger Cicero is the most successful German album artist after Herbert Grönemeyer Starwatch Music alone provides three singles in the overall yearly top 15 of Media Control Shame and Hot Summer by Monrose Vayamos Companeros by Marquess 22

23 Agenda Highlights 2007: A new growth dimension for ProSiebenSat.1 Financial Statements: Business performance 2007 Outlook: Further expansion of the Group Appendix 23

24 The ProSiebenSat.1 Group: Business units and segments Business units Free TV Diversification Segment Free TV German-speaking region Free TV International Diversification Region Germany/Austria/ Switzerland NL/Belgium Nordic CEE Germany/Austria/ Switzerland NL/Belgium Nordic CEE Main legal entities / activities. 24

25 Strong revenue increase with SBS consolidation & organic growth Organic growth and consolidation of SBS pushed Group s revenues up 29.0 percent. Revenues in EUR m Pro forma combined +4.2% , % 2, , , % 3, , , , % 2, ProSiebenSat.1 standalone Consolidation of SBS ProSiebenSat.1 standalone Figures 2007 preliminary and unaudited. Consolidation of SBS since July

26 ProSiebenSat.1 recurring EBITDA improves ProSiebenSat.1 recurring EBITDA up 36.3 percent. Recurring EBITDA* in EUR m EBITDA margin In percent % Pro forma combined % +22.1% % ProSiebenSat.1 standalone Consolidation of SBS ProSiebenSat.1 standalone Figures 2007 preliminary and unaudited. Consolidation of SBS since July *Recurring EBITDA: EBITDA before non-recurring items (exceptionals). 26

27 FCO fine with significant impact on EBITDA in 2007 Recurring EBITDA In EUR m EBITDA In EUR m One-off charge of EUR 120 m resulting from a settlement with FCO affected EBITDA performance in Other non-recurring items in 2007 are related to integration of the Group (reorganization, consulting and transaction costs) In EUR m EBITDA Fine from the Federal Cartel Office /- Other non-recurring items Recurring EBITDA Figures 2007 preliminary and unaudited. Consolidation of SBS since July * Recurring EBITDA: EBITDA before non-recurring items (exceptionals). 27

28 ProSiebenSat.1: Total costs Increased total costs in 2007 due to consolidation of SBS since July 2007 and FCO fine. In EUR m , , * 2, Total costs Pro forma combined , , ,703.2** 1, , , Total costs 2006 Total operating costs 2007 Total costs 2007 incl fine and PPA Consolidation of SBS ProSiebenSat.1 standalone Figures 2007 preliminary and unaudited. Consolidation of SBS since July Total costs: cost of sales, selling expenses and administrative expenses. 28 * Total costs SBS excluding exceptional charges from amortization due to PPA for SBS of EUR 75.5 m. ** Total costs ProSiebenSat.1 standalone excluding one-off charges from FCO fine of EUR 120 m.

29 Underlying net income up 11.8 percent Underlying net income In EUR m Net income Net income reconciliation In EUR m Net income Fine from the Federal Cartel Office /- 150 Net amortization PPA Result from discontinued operations Underlying net income* Figures 2007 preliminary and unaudited. Consolidation of SBS since July * Underlying net income: Consolidated net income before effects from purchase price allocation accounting (PPA) and (in 2007 only) fine from the Federal Cartel Office.The fine is not tax-deductible. 29

30 ProSiebenSat.1 Group: Debt facilities Increased debt level leaves sufficient headroom for further operative and strategic expansion. Debt Facilities In EUR m ,800 Term Loan B 1,800 Term Loan C 600 RCF* 35 Sat.1 Mortgage Loan July 2014 July 2015 July /2021 The SBS transaction was financed via a long term senior secured credit facility: Financing is fully underwritten by 8 mandated lead arrangers and successfully syndicated. The loan agreement includes term loans of EUR 3.6 bn as well as a new revolving credit facility of EUR 600 m. Attractive initial margin of 1.75/1,875 percent p.a. for Term Loan B and C respectively. Bullet repayment structure. The term loans cover the SBS purchase price. The refinancing of existing SBS debt, transaction costs and the early redemption of the EUR 150 m ProSiebenSat.1 notes**. Around 80 percent of term loans are hedged into fixed interest rates with interest rate swaps. Net debt as per December 31, 2007 was EUR 3,328 bn (12/31/2006: EUR m). Leverage (based on pro forma LTM recurring EBITDA of EUR 783 m) as per December is 4.25x. Figures 2007 preliminary and unaudited. *Revolving Credit Facility. **The EUR 150 million notes were redeemed early on August 1,

31 Decisive step to accelerate diversification of revenues Revenues up in both units due to organic growth and to SBS consolidation. Revenues In EUR m % 2, , % 2, , Consolidation of SBS , , % Group revenues Free TV Diversification Figures 2007 preliminary and unaudited figures ProSiebenSat.1 standalone. Consolidation of SBS since July

32 Free TV: International markets with stronger growth Good performance in German-speaking region. Revenues in EUR m Segment Free TV D/A/CH Segment Free TV International pro forma , % 1, % H H Figures 2007 preliminary and unaudited. 32

33 Agenda Highlights 2007: A new growth dimension for ProSiebenSat.1 Financial Statements: Business performance 2007 Outlook: Further expansion of the Group Appendix 33

34 Strategic goals of ProSiebenSat.1 Group ProSiebenSat.1 Group: Core competence content 1 Strengthening Free TV: Focus on programming & brands 2 New revenue sources: Expansion of New Media and Diversification 3 Multi distribution: Establishing a leading technological infrastructure Scale effects Growth through increased competitive power 34

35 Dynamic growth in European TV advertising markets TV Ad investments (Net) 08 vs 07 in percent, at current prices WARC Zenith Germany Austria CH NL Belgium Sweden Norway Denmark Finland Hungary Romania* Bulgaria* Greece Sources: *WARC forecast WARC, ZenithOptimedia, not available for Romania figures extensively and Bulgaria. harmonised on a net base, but still several methodical differences between countries and sources. Sources: WARC 12/2007. ZenithOptimedia December 12/2007. figures extensively harmonized on a net base. but still several methodical differences between countries and sources. 35

36 Strengthening Free TV: Focus on content Total programming expenses In EUR m % +1% Be a content powerhouse: Increased programming expenses of EUR 1.6 bn in 2008 New Group Content unit : Pooling of know-how and resources Back-to-back productions to start in 2008 High synergy potential for the integrated Group: Full control of operating entities Attractive programming based on joint-productions as well as contracts with important studios, e.g. new long-term deal with Sony Pictures Television International in January

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38 Diversification: 360 O Multi-use of content VoD Broadband Website Free Video Voting Viral Marketing MMS Podcast 38

39 Diversification: Become a big player in online business Further expansion based on organic growth as well as acquisitions. Top 10 online networks Germany Page impressions in mn ProSiebenSat.1 Networld RTL Netzwerk 884 CHIP Xonio Online Netzwerk Computec United Abacho AG BerlinOnline Netzwerk NWZonline Netzwerk Motor Presse Stuttgart TV SPIELFILM Online Plus Zeitungsgruppe Köln Source: IVW as of Jan

40 Diversification: International roll-out of successful services 40

41 Group expansion: Creating a leading operational platform Leadership in broadcast and IT technology Digital production High-performance, technological infrastructure for the pan-european Group New groupwide playout centers in London and Munich in Q IT outsourcing with worldwide partner Further rationalization of studio production N24 plus Making N24 Europe s most modern news channel Strong investment in pioneering technology Development of N24 into a multimedia brand Central role as news provider for all stations of the Group Platform to be operational from end 2008/

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43 High growth potential: Aiming for higher margins % 34.8% 34.4% 30.8% 30.6% 23.4% 2007*: 24.5% 2006**: 22.3% Average EBITDA margin: 26.7%*** % 18.7% 15.5% 15.2% 10 0 Telecinco Antena 3 TVN Mediaset CME M6 ProSieben Sat.1 RTL Group ITV TF1 MTG Scale and efficiency effects Margins in Southern and Eastern Europe above average Medium-term margin target for the new Group: 25 to 30 percent Source: Company filings. * Consolidation of SBS since July 2007, preliminary and unaudited. ** Recurring EBITDA margin pro forma combined (excluding synergies). *** Average excluding combined Group. 43

44 Synergy potential: EUR 80-90m as of 2010 Substantial synergy potential: 2/3 cost and 1/3 revenue synergies. In EUR m Revenue synergies In-house and commissioned productions Diversification Ad sales Cost synergies Support functions In-house productions Commissioned productions License acquisitions Diversification Content/play-out/distribution IT infrastructure and applications/purchasing Ad sales Marketing End of 2008 ~ EUR 40m 2010 EUR 80-90m

45 ProSiebenSat.1 Group: Goals 2008 Focus on strengthening leading market positions of Free TV stations. Reinforced development and production of attractive programming. More efficient use of greater creative resources of the Group. Realization of synergies in international production. Launch of new stations. Further development of multi platform strategy. Growth in the Internet. Internationalization of new media services. Establishment of a complete digital production infrastructure. Further increase of Group revenues and profits. Growth will benefit from full-year consolidation of SBS and synergies. 45

46 Upcoming programs Nordic region, The Netherlands and Belgium Norway Sweden TVNORGE Shows like Gossip Girl or So you think you can dance New shows such as Norges herligste with top comedians Kanal 5 Hollywood blockbusters such as Indiana Jones New US series such as Gossip Girl, shows such as So you think you can dance Denmark The Netherlands Kanal 4 New episodes of Danish documentary De unge modre (Young Mothers), series such as Private Practice Kanal 5 New US licensed series such as CSI, CSI: Miami and Criminal Minds SBS6 US series such as Dr. House or Medical Investigation, shows such as Dancing Queen Net 5 Popular US series such as Grey s Anatomy, new season of the show Peking Express Belgium Excluding The Voice TV in the relevant countries. VT4 The fiction series Vermist, new formats like FC Nerds, successful shows such as Peking Express VIJFtv New seasons of Deal or no Deal, The Housedoctor, local productions as Zo Man, Zo Vrouw 46

47 Upcoming programs - Germany and CEE Germany Sat.1 New seasons of successful US series such as NCIS, Numb3ers and Criminal Minds New Free TV premieres and premium films such as Meet the Fockers and The Chronicle of Narnia More than 20 new TV movies and the event production Wir sind das Volk Liebe kennt keine Grenzen ProSieben New seasons of first-class US series such as Desperate Housewives ; new: Private Practice TV events such as Die Brücke starring Franka Potente New show highlights including Schlag den Raab, Germany s next Topmodel by Heidi Klum Hungary TV2 New shows such as The Singing Bee, The next Uri Geller or Nothing but the Truth New seasons of US series such as Desperate Housewives, Dr. House or Heroes I Romania Prima TV The local sitcom Nimeni nu perfect (Nobody is perfect) International shows such as Nothing but the Truth Kiss TV The best of local and international music New local inhouse productions such as KissCinema Excluding The Voice TV in the relevant countries. 47

48 Upcoming programs 48

49 ProSiebenSat.1 Group The power of television Financial Year 2007 Munich, March 4,

50 Agenda Highlights 2007: A new growth dimension for the pan-european Group Financial Statements: Business performance 2007 Outlook: Further expansion of the Group Appendix 50

51 ProSiebenSat.1 Group: FY 2007 key figures 2007 EUR m 2006 EUR m Changes EUR m in percent Revenues 2, , Recurring EBITDA* EBITDA EBIT Financial income Pre-tax profit Consolidated net loss / profit Underlying net income** Earnings per share of preferred stock (in EUR) Underlying earnings per share of preferred stock (in EUR) Operating Cash flow 1, , Investing Cash flow -3, , Total assets 5, , , Shareholders' equity 1, , Equity ratio (in percent) 18% 64% -/ Programming asset 1, , Net financial debt 3, , /- First-time consoldation of SBS since July Relevant prior-year figures adjusted to reflect recognition of PSP as a discontinued operation. * Recurring EBITDA: EBITDA before non-recurring (exceptionals) items. ** Underlying Net Income: Consolidated net income before effects from purchase price allocation accounting and fine from the Federal Cartel Office (in 2007 only). Figures 2007 preliminary and unaudited. 51

52 ProSiebenSat.1 Group: FY key figures by segment Key figures In EUR k Free TV German-speaking Free TV International Total Free TV Diversification Percent Percent Percent Percent Revenues* 1, , / - -/ - 2, , Recurring EBITDA / - -/ EBITDA / - -/ Figures 2007 preliminary and unaudited ProSiebenSat.1 standalone. Consolidation of SBS since July * External revenues. 52

53 ProSiebenSat.1 Group: Q key figures Q EUR m Q EUR m Changes EUR m in percent Revenues Recurring EBITDA* EBITDA EBIT Financial income Pre-tax profit Consolidated net loss / profit Underlying net income** Earnings per share of preferred stock (in EUR) Underlying earnings per share of preferred stock (in EUR) Operating Cash flow Investing Cash flow Total assets 5, , , Shareholders' equity 1, , Equity ratio (in percent) 18% 64% -/ Programming asset 1, , Net financial debt 3, , /- First-time consoldation of SBS since July Relevant prior-year figures adjusted to reflect recognition of PSP as a discontinued operation. * Recurring EBITDA: EBITDA before non-recurring (exceptionals) items. ** Underlying Net Income: Consolidated net income before effects from purchase price allocation accounting and fine from the Federal Cartel Office (in 2007 only). Figures 2007 preliminary and unaudited. 53

54 ProSiebenSat.1 Group: Q key figures by segment Key figures In EUR k Free TV German-speaking Free TV International Total Free TV Diversification Q Q Percent Q Q Percent Q Q Percent Q Q Percent Revenues* / - -/ Recurring EBITDA / - -/ EBITDA / - -/ Figures 2007 preliminary and unaudited ProSiebenSat.1 standalone. Consolidation of SBS since July * External revenues. 54

55 Q4 2007: Revenues Revenues In EUR m Pro forma combined In EUR m +3.2% % % % Q Q ProSiebenSat.1 standalone Consolidation of SBS ProSiebenSat.1 standalone 0 Q Q Figures 2007 preliminary and unaudited. Consolidation of SBS since July

56 Q4 2007: Recurring EBITDA Recurring EBITDA In EUR m % EBITDA margin In percent Pro forma combined In EUR m % +14.5% % Q Q ProSiebenSat.1 standalone Consolidation of SBS ProSiebenSat.1 standalone 0 Q Q Figures 2007 preliminary and unaudited. Consolidation of SBS since July *Recurring EBITDA: EBITDA before non-recurring items (exceptionals). 56

57 Q4 2007: Total costs Costs In EUR m Total costs Pro forma, in EUR m * Total costs Q Total operating costs Q Total costs Q incl PPA 0 Q Q Consolidation of SBS ProSiebenSat.1 standalone Figures 2007 preliminary and unaudited. Consolidation of SBS since July Total costs: cost of sales, selling expenses and administrative expenses. * Total costs SBS excluding exceptional charges from amortization due to ppa for SBS of EUR 37.2 m. 57

58 Q4 2007: Core business Free TV - revenues by segment Revenues Segment Free TV D/A/CH In EUR m Revenues Segment Free TV International Pro forma, in EUR m % % Q Q Q Q Figures 2007 preliminary and unaudited. 58

59 Shareholder structure of ProSiebenSat.1 Media AG Funds advised by KKR 50% Funds advised by Permira 50% Lavena Holding 4+5 GmbH Public Free Float 100.0% Voting Shares 25.3% Preference Shares 62.7% Share capital 0.0% Voting Shares 74.7% Preference Shares 37.3% Share capital ProSiebenSat.1 Media AG Axel Springer sale of ProSiebenSat.1 stake to Lavena 5 closed in January 2008 Telegraaf Media Group which was a former shareholder in SBS has an option to acquire 12 percent of ProSiebenSat.1 common stock from Lavena Holding 5 by mid-2008 Total number of shares: ; thereof voting and preference shares. 59

60 ProSiebenSat.1 Media AG Corporate Office Medienallee 7 D Unterföhring Tel. +49/89/ Fax +49/89/