Financial results and market performance in the 3 rd quarter of Investor presentation November 2007

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Rose Wilkinson
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1 Financial results and market performance in the 3 rd quarter of 27 Investor presentation November 27

2 SOLID FINANCIAL PERFORMANCE OF THE GROUP 3 2 Revenues 16% 13% Advertising 3 2 Operating cost 6% 4% 2 Copy sales Collections 2 3% Staff* Materials 1 Other 1 16% Marketing 1 49% 1 4% Other 11% 3Q6 3Q7 3Q6 3Q7 Operating performance Net profit 6 18% 2% % 71% 1% 2 247% 1% % % 3Q6 3Q7 3Q6 3Q7 Operating EBITDA Operating EBITDA margin PLN 374 mln in cash and cash equivalents (incl. certificates in investment funds) 2 * excluding non-cash cost of share-based payments Source: consolidated financial statements according to IFRS, 3Q7

3 ADVERTISING SPENDING GREW AHEAD OF EXPECTATIONS Ad spend growth in 3Q7 27 ad spend growth estimates Internet 42% Internet 4% Outdoor 26% Outdoor TV 14% - 1% 1% - 16% TV 2% Total Radio Dailies 6% - 7% 4% - % Radio 11% 18% Magazines 4% Total 11% - 12% Dailies 8% Magazines 7% % % 1% 1% 2% 2% 3% 3% 4% 4% 3 Source: the estimates are adjusted for average discount rate; 3Q7: Starlink estimates (TV and Internet), IGRZ (outdoor), Agora s estimates based on Expert Monitor and monitoring of Agora (press and radio); 27 estimates: Agora

EXCELLENT MARKET AND FINANCIAL PERFORMANCE OF GAZETA Copy sales Weekly readership Thou copies 6 3.% % reach 2% 19.1% 17.8% 4 3.

Rzeczpospolita Gazeta Fakt Super Express Dziennik Rzeczpospolita 14 12 1 Gazeta s revenues 1% A success of double-pricing and copy sales growth Ad spend for

% 4 * incl revenues from the dual media offers Source: revenues: consolidated financial statements according to IFRS, 3Q7; copy sales: ZKDP, Jul Sep 27, Sep 27 ;

4 EXCELLENT MARKET AND FINANCIAL PERFORMANCE OF GAZETA Copy sales Weekly readership Thou copies 6 3.% % reach 2% 19.1% 17.8% 4 3.% 163 thou copies sold in September 1% % 17.8% 8.4% 1% % no of readers.8 mln.4 mln 8.1% 2.4 mln 7.% 2.1 mln.% 1. mln % Fakt Gazeta Super Express Dziennik Rzeczpospolita Gazeta Fakt Super Express Dziennik Rzeczpospolita Gazeta s revenues 1% A success of double-pricing and copy sales growth Ad spend for dailies Metro 3% Rzeczpospolita 7% Fakt.% % share Dziennik 8 7% 6 66% Gazeta 41% 3Q7 Super Express 3% 4 3Q6 2 3Q7 Advertising Copy sales Other 33.% 4 * incl revenues from the dual media offers Source: revenues: consolidated financial statements according to IFRS, 3Q7; copy sales: ZKDP, Jul Sep 27, Sep 27 ; readership: Polish Readership Survey, realization MillwardBrown SMG/KRC, Jul-Sep 27, N=11 618, SCR indicator (weekly readership); ad market: Agora s estimates adjusted for average discount rate (data in current prices)

5 DYNAMIC DEVELOPMENT AND ACCELERATED REVENUE GROWTH ONLINE Reach of Internet services % reach 8% 6% 4% 74.6% 67.% 6.7% 7.6% 2.1% 47.% 4.2% 4.2% August 26 August % 42.2% 12 new services, 24 revamped G.pl web mail built on Google s popular Gmail 2% % Onet.pl WP Interia.pl o2.pl Agora Web TV platform with Big Brother 4.1 reality show attracted over a million users during the first month of operations 8 Agora s online revenues 87% 3Q6 3Q7 1.2 mln users in August; #3 online sports service 6 11% Portal with news, sports, business, weather and cinema schedule; cooperation with Nokia to share audio files via Nokia Podcasting 4 2 Both vortals maintained strong positions in their respective categories Gazeta.Dom.pl #1, Gazeta.Praca.pl #2 player TOTAL revenues Advertising* Source: reach: Megapanel PBI/Gemius; financials: consolidated financial statements according to IFRS, 3Q7 *excl vortal ad sales

6 REVENUE GROWTH AND OFFER EXPANSION OF METRO Revenues New print and online offers % 4 2 3Q6 3Q7 Weekly readership % reach 2% 1% 19.1% 17.8% #3 player in daily readership 1% % no of readers.8 mln.4 mln 8.1% 2.4 mln 7.6% 2.3 mln 7.% 2.1 mln % Gazeta Fakt Super Express Metro Dziennik 6 Source: revenues: consolidated financial statements according to IFRS, 3Q7; readership: Polish Readership Survey, realization MillwardBrown SMG/KRC, Jul-Sep 27, N=11 618, CCS indicator (weekly readership), CPW indicator (daily readership)

7 NEW SERIES AND NEW ENTERTAINMENT PROJECTS We sold over 6 mln books and books with CDs/DVDs in January September 27 A high-budget TV series sold in Gazeta s Library before it is shown on TV 12 Revenues % 3Q % E.K.G. the most recent record of Edyta Górniak Special edition of a music record Koledzy Q6 1-3Q7 Famous Football Clubs series Business Collection 7 Source: revenues: consolidated financial statements according to IFRS, 3Q7

AMS DELIVERS HEALTHY REVENUE GROWTH AND STRONG MARGINS Revenues 4 4 3 3 2 2 1% yoy% change Over new faces of cityscroll panels

18% 16% 14% 12% % share AMS 23% 4 3 1% 8% 3Q7 2 6% 4% 1 3Q6 3Q7 2% % Other 77% Operating EBITDA Operating EBITDA margin 8 Source:

8 AMS DELIVERS HEALTHY REVENUE GROWTH AND STRONG MARGINS Revenues % yoy% change Over new faces of cityscroll panels introduced in October 26 September Q6 3Q7 Operating performance Share in outdoor ad market % 18% 17% yoy% change 2% 18% 16% 14% 12% % share AMS 23% 4 3 1% 8% 3Q7 2 6% 4% 1 3Q6 3Q7 2% % Other 77% Operating EBITDA Operating EBITDA margin 8 Source: financials: consolidated financial statements according to IFRS, 3Q7; outdoor advertising: IGRZ Monitoring, 3Q7; number of panels: IGRZ Monitoring

SOLID PERFORMANCE OF MAGAZINES AND RADIOS AND GROWTH ONLINE 3 2 2 Revenues and profitability of magazines yoy% change 6% 3Q6 3Q7 7 new radio channels and access to Agora s traditional stations 1 1

9 SOLID PERFORMANCE OF MAGAZINES AND RADIOS AND GROWTH ONLINE Revenues and profitability of magazines yoy% change 6% 3Q6 3Q7 7 new radio channels and access to Agora s traditional stations %. Revenues Operating EBITDA Audience influences music content and play Revenues of local stations list yoy% change 13% Q6 3Q7 9 Source: consolidated financial statements according to IFRS, 3Q7

10 GROWTH AND INVESTMENTS Continue to grow our existing businesses and seek new revenue engines; Leverage rich asset portfolio and powerful brands of our media; execute third party cooperations; We will continue to execute on the growth plan; strategic goals and directions to be presented together with 4Q7 report. 1

2008 financial performance of the Group

2008 financial performance of the Group financial performance of the Group Investor presentation April 2009 financial performance of the Group PLN mln 4Q Revenues 335.9 (4.7%) 1 277.7 0.4% Operating cost, incl.: 361.3 12.3% 1 233.1 7. - provisions