The leading European entertainment network

Transcription

1 The leading European entertainment network

2 Agenda INTRODUCTION Business Review Financial Review Outlook The leading European entertainment network

3 RTL Group Half year highlights 2011 REVENUE EUR 2.75 billion Portfolio strengthened: acquisition of minorities; creation of new family of channels; step into Asia REPORTED EBITA continuing operations EUR 557 million Strong audience shares in major markets GERMANY, FRANCE, NETHERLANDS EBITA MARGIN 20.2% CASH CONVERSION 96% NET CASH POSITION EUR 973 million NET RESULT EUR 324 million > Improved profitability against difficult comparatives 2

4 Agenda Introduction BUSINESS REVIEW Financial Review Outlook The leading European entertainment network

5 Germany Mediengruppe RTL Deutschland Half year Results 2011 AUDIENCE SHARE (in %) KEY FINANCIALS (in EUR million) RTL P7S % % HY 2011 Revenue EBITA AUDIENCE SHARE (in %) SHARE OF NET ADVERTISING MARKET (in %) / RTL P7S1 RTL Sat.1 Pro7 RTL II Vox Kabel HY 2011 Source: GfK, ZAW and RTL Group estimates 4

6 France Groupe M6 Half year Results 2011 AUDIENCE SHARE MAIN CHANNELS HOUSEWIVES <50 ALL DAY (in %) NET TV ADVERTISING MARKET DEVELOPMENT (in %) HY 2011 VS. HY 2010 Market M6 TF M6 TF1 France 2 France 3 Others -0.9 AUDIENCE SHARE FAMILY OF CHANNELS HOUSEWIVES <50 ALL DAY (in %) KEY FINANCIALS (in EUR million) % % Groupe M6 TF1 Group France Telev. Source: Médiamétrie, housewives under 50, RTL Group estimates Groupe M6 : M6 and W9: TF1 Group : TF1, TMC and NT1: France TV : Fr2, F3 and Fr4 Revenue EBITA 5

7 FremantleMedia Half year Results 2011 KEY FACTS 2011 KEY FINANCIALS (in EUR million) Continues to produce the highest rated entertainment shows around the world o In the US, season ten of American Idol was once again the most watched prime time entertainment series o In the UK, series five of Britain s Got Talent was the highest rated entertainment show so far this year o In Germany season eight of the local version of Idols was yet again a ratings success o In Australia the third series of Masterchef is the number one show to date on Network TEN Growth in revenue driven by new acquisitions with EBITA margin suffering due to continued pressure on margins and difficult comparatives % % Revenue EBITA 6

8 Netherlands RTL Nederland Half year Results 2011 AUDIENCE SHARE: 20-49, PRIMETIME (in %) NET TV ADVERTISING MARKET DEVELOPMENT (in %) HY 2011 vs HY RTL4 NED1 SBS6 RTL5 Net5 Market RTL SBS Source : RTL Group estimates (spot and non-spot) AUDIENCE SHARE FAMILY OF CHANNELS RTL SBS Ned KEY FINANCIALS (in EUR million) HY 2011 TV revenue & EBITA % Radio revenue & EBITA HY % 9 7

9 Belgium RTL Belgium Half year Results 2011 AUDIENCE SHARE: SHP 18-54, PRIMETIME (in %) 1) NET TV ADVERTISING MARKET DEVELOPMENT (in %) HY 2011 VS. HY Market RTL Belgium RTBF RTL TVI La Une La Deux Club RTL -0.4 AUDIENCE SHARE FAMILY OF CHANNELS KEY FINANCIALS (in EUR million) RTL Belgium Pubcaster AB Group French Channels TV revenue & EBITA 26.6% 116 Radio revenue & EBITA 21.6% 8 Source: Audimetrie 1) CIM MDB South, RTL Group estimates 8

10 France RTL Radio Half year Results 2011 AVERAGE AUDIENCE SHARE , 5-24H, MON FRI (in %) RTL STATIONS NRJ GROUP LAGARDÈRE PUBCASTER OTHER p p / / / RTL Fun Radio RTL2 NRJ Nostalgie Chérie FM Rire & Chansons Eur. 1 Virgin RFM France Inter France Bleu France Info RMC Info x Skyrock MFM Indep. Deviation vs. average HY 2010 KEY FACTS 2011 KEY FINANCIALS (in EUR million) Audience share of RTL family well ahead of commercial rivals % % Advertising market estimated to be down 1 per cent with RTL increasing its share to 26.4 per cent Reported EBITA up at EUR 16 million HY 2011 HY 2010 Revenue EBITA 9

11 Hungary RTL Klub Half year Results 2011 AUDIENCE SHARE: 18-49, PRIMETIME (in %) KEY FINANCIALS , % VIEW (in HUF million) 9.7% 13, % ,245 1,777 RTL Klub TV2 M1 Other Revenue EBIT NET TV ADVERTISING MARKET DEVELOPMENT (in %) HY 2011 VS. HY 2010 IN LOCAL CURRENCY KEY FINANCIALS (in EUR million) Market RTL Klub TV % 14.0% Revenue EBITA Source: RTL Group estimates 10

12 Greece Alpha TV Half year Results 2011 AUDIENCE SHARE: 15-44, ALL DAY (in %) NET TV ADVERTISING MARKET DEVELOPMENT (in %) HY 2011 VS. HY Market Alpha Mega Antenna Star Alpha Media Mega Antenna Star Source : RTL Group estimates AUDIENCE SHARE: PRIMETIME (in %) KEY FINANCIALS (in EUR million) Alpha Media Mega Antenna Star HY 2011 : operational loss excluding asset impairment Source : AGB Nielsen 20: , Revenue EBITA 11

13 Croatia RTL Televizija Half year Results 2011 AUDIENCE SHARE: 18-49, ALL DAY (in %) KEY FINANCIALS (in EUR million) RTL Televizija Nova HTV1 HTV2 RTL Televizija : RTL Televizija and RTL 2 : Nova : Nova TV and Doma TV Revenue EBITA NET TV ADVERTISING MARKET DEVELOPMENT (in %) HY 2011 VS. HY 2010 Market RTL HTV Nova SHARE OF NET ADVERTISING MARKET (in %) Nova RTL 40.3 Ad market -2.2% Nova 41.9 RTL 39.6 Source : RTL Group estimates HTV 18.5 HTV 12

14 Spain Grupo Antena 3 Half year Results 2011 AUDIENCE SHARE: ALL DAY (in %) KEY FINANCIALS 100% VIEW (in EUR million) % % Antena 3 Telecinco TVE1 Cuatro La Sexta Antena 3: Antena 3, Neox, Nova and Nitro: Telecinco: Telecinco, FDF, La Siete, Boing and Divinity TVE1: TVE1, La2, Clan, Tdp and 24h Revenue EBITDA NET TV ADVERTISING MARKET DEVELOPMENT (in %) HY 2011 vs. HY 2010 Market Antena 3 MediaSet Esp. La Sexta GROUP CONTRIBUTION (in EUR million) EBITA Source: RTL Group estimates 13

15 Agenda Introduction o Cost Reduction and Audience Share Update o Business Review FINANCIAL REVIEW Outlook The leading European entertainment network 14

16 Review of Results 30 June 2011 (1/2) In EUR million Half Year to June 2011 Half Year to June 2010 Per cent change REVENUE 2,751 2, REPORTED EBITA Start-up losses 0 10 ADJUSTED EBITA Reported EBITA margin (%) pp Adjusted EBITA margin (%) pp UNDERLYING REVENUE 2,679 2, UNDERLYING EBITA

17 Review of Results 30 June 2011 (2/2) In EUR million Half Year to June 2011 Half Year to June 2010 Per cent change REPORTED EBITA Impairment of investment in associates and amortisation and impairment of fair value adjustments on acquisitions Loss from sale of subsidiaries, joint ventures and other investments (20) (5) - (11) Net financial expense (3) (9) Income tax expense (151) (155) PROFIT FOR THE PERIOD CONTINUING OPERATIONS LOSS FOR THE PERIOD DISCONTINUED OPERATIONS (1) (49) PROFIT / (LOSS) FOR THE PERIOD Attributable to: Non controlling interests RTL Group shareholders

18 Cash Flow Statement as of 30 June 2011 In EUR million Half Year to June 2011 Half Year to June 2010 NET CASH FLOW FROM OPERATING ACTIVITIES Add: Income tax paid Less: Acquisition of assets, net (87) (93) Equals: Reported free cash flow (FCF) Acquisition of subsidiaries and JVs, net of cash acquired (33) (6) Disposal of subsidiaries and JVs, net of cash (1) 4 Other financial assets (deposit excluded), net (11) 381 Net interest paid 6 (2) Transaction with non controlling interests (2) (2) Income tax paid (156) (199) Dividends paid (877) (702) CASH GENERATED / (USED) (542) 103 REPORTED EBITA (CONTINUING AND DISCONTINUED) EBITA CONVERSION (FCF/EBITA) 96% 118% 17

19 Agenda Introduction Cost Reduction and Audience Share Update Business Review Financial Review OUTLOOK The leading European entertainment network

20 Outlook No visibility yet on important 4th quarter Strong interim result confirms Group s strategy around continuous development of core business Cautiously optimistic for full year results despite difficult comparatives and the broader macro economic uncertainty 19