Alma Media Oyj · OMXHEX:ALMA
Alma Media Oyj — Q2 2011 Earnings Presentation
32 slides from Alma Media Oyj's earnings presentation, Jul 22, 2011
Slide 1: Alma Media Q2 2011
Alma Media Q2 2011 Kai Telanne, President and CEO Tuomas Itkonen, CFO July 22, 2011, Helsinki 1 22.7.2011
Slide 2: Agenda
Agenda • Highlights Q2 • Markets • Segment reviews • Financials and outlook 2 22.7.2011
Slide 3: Highlights Q2 2011
Highlights Q2 2011 • Revenue amounted to MEUR 82.7 (78.7), up 5.1%. — Advertising sales grew 10.8% to MEUR 42.7 (38.6). o Online advertising sales increased 19.6% and amounted to MEUR 11.3 (9.4). o Advertising sales in the printed media increased 8.1% to MEUR 31.2 (28.9). — Circulation revenue decli
Slide 4: Key figures Q2 2011, MEUR
Key figures Q2 2011, MEUR IFRS Revenue, MEUR EBIT, MEUR 90 16 +5,1% 80 83,0 +3,7% 82,7 14 0,2 78,7 77,1 13,4 +2,6% 70 75,2 12 11,3 +12,0% 11,5 60 10 11,0 50 8 9,3 40 6 30 4 20 2 10 0 -0,4 -0,3 -0,3 -0,5 0 -2 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Onetime items 4 22.7.2011
Slide 5: Market January - May 2011
Market January - May 2011 5 22.7.2011
Slide 6: Advertising sales change 1-5/2011
Advertising sales change 1-5/2011 Alma Media vs. market Market* Alma Media** Change, % 1-5 11 1-5 11 Newspapers total 9,9 5,5 *** Magazines 6,4 - Television 15,5 - Radio 30,1 - Internet 34,3 26,2 TOTAL 14,0 10,7 * Source: TNS Media Intelligence ** without discontinued operations *** Newspapers segme
Slide 7: Advertising change by branch
Advertising change by branch Total market; change from previous year P3 2011 vs 2010 P4 2011 vs 2010 P5 2011 vs 2010 Retail -2,1 % Retail 15,0 % Retail 7,4 % Food & bev. 9,9 % Food & bev. 44,1 % Food & bev. 16,7 % Motor v. 22,2 % Motor v. 23,7 % Motor v. 27,0 % Recru 35,2 % Recru 49,0 % Recru 47,5 %
Slide 8: Advertising change by branch
Advertising change by branch Newspapers total*; change from previous year P3 2011 vs 2010 P4 2011 vs 2010 P5 2011 vs 2010 Retail -9,1 % Retail 9,1 % Ret… 3,8 % Motor v. 17,4 % Motor v. 17,0 % Mot… 27,5 % Recru 29,8 % Recru 41,6 % Rec… 40,0 % Houses 15,9 % Houses 32,5 % Hou… 15,1 % Tourism -4,3 % Tou
Slide 9: Advertising by branch 1-5/2011
Advertising by branch 1-5/2011 Total market; change from 1-5 2010 Advertising in 1-5 11 MEUR Retail 5,4 % Retail 108 Motor v. 23,0 % Motor vehicles 51 Food & bev. 20,4 % Food & beverages 48 Recru 45,0 % Recruiting 28 Houses 23,4 % Houses and premises 21 Tourism 26,9 % Tourism and traffic 20 Entert 5
Slide 10: Advertising by branch 1-5/2011
Advertising by branch 1-5/2011 Newspapers total*, change from 1-5 2010 Advertising in 1-5 11 MEUR Retail 0,4 % Retail 78 Motor v. 18,0 % Motor vehicles 28 Recru 40,0 % Recruiting 17 Houses 17,6 % Houses and premises 14 Tourism 8,1 % Tourism and traffic 8 Entert -0,3 % Entertainment 7 Tele -6,5 % Tel
Slide 11: Segments Q2 2011
Segments Q2 2011 11 22.7.2011
Slide 12: Newspapers
Newspapers • Revenue grew to MEUR 57.9 (55.4), up 4.5%. — Advertising revenue increased 9.5% (0.5%) to MEUR 30.0 (27.4). ◦ Advertising sales in the printed media grew 8.8% (declined 3.3%). ◦ Online advertising sales grew 15.4% (50.4)%. — Circulation revenue declined by 1.7% to MEUR 26.8 (27.2) mainl
Slide 13: Kauppalehti Group
Kauppalehti Group • Revenues grew to MEUR 15.0 (14.4), up 3.8%. — Circulation revenue stood at MEUR 3.5 (3.5), remaining at the level of the comparison period. — Advertising sales grew 5.0% (12.9%). Online advertising sales grew 6.9% (29.1%). — Content and service revenue grew to MEUR 6.7 (6.4). • T
Slide 14: Marketplaces
Marketplaces • Revenues grew to MEUR 9.5 (8.2), up 16.1%. — revenue growth was driven by the strong growth in the demand for advertising for recruitment and online advertising for housing. • Total expenses remained at the level of the comparison period and stood at MEUR 8.0 (8.3). • Operating profit
Slide 15: Other operations
Other operations • Revenue amounted to MEUR 20.7 (19.3), of which external revenue MEUR 1.3. • Investment to renew the Tampere printing facility proceeds as planned. — The finishing system to be delivered by Ferag AG (Switzerland). • The statutory personnel negotiations related with the development
Slide 16: Financial review Q2 2011
Financial review Q2 2011 16 22.7.2011
Slide 17: Key figures Q2 2011, MEUR
Key figures Q2 2011, MEUR IFRS Revenue, MEUR EBIT, MEUR 90 16 +5,1% 80 83,0 +3,7% 82,7 14 0,2 78,7 77,1 13,4 +2,6% 70 75,2 12 11,3 +12,0% 11,5 60 10 11,0 50 8 9,3 40 6 30 4 20 2 10 0 -0,4 -0,3 -0,3 -0,5 0 -2 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Onetime items 17 22.7.2011
Slide 18: Revenue change by type, MEUR
Revenue change by type, MEUR IFRS Circulation, MEUR Advertising, MEUR 0,8 4,5 +10,8% 4,0 0,6 3,5 0,4 +8,2% 3,0 0,2 2,5 +0,1% -1,4% 0,0 2,0 1,5 -0,2 1,0 -0,4 0,5 -0,6 0,0 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 18 22.7.2011
Slide 19: Revenue by segment, MEUR
Revenue by segment, MEUR w/o onetime items Newspapers, MEUR & % Kauppalehti Group, MEUR & % 70,0 18,0 +4,5% 16,0 +3,8% 60,0 +3,2% -1,0% 57,9 14,0 15,0 55,4 14,4 50,0 53,8 13,9 12,0 40,0 10,0 30,0 8,0 6,0 20,0 4,0 10,0 2,0 0,0 0,0 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 19 22.7.20
Slide 20: Revenue by segment, MEUR
Revenue by segment, MEUR w/o onetime items Marketplaces, MEUR & % Other, MEUR 12,00 25,0 +7,2% 10,00 +16,1% +1,7% +19,0% 20,0 20,7 9,5 19,3 19,6 9,1 8,00 8,2 15,0 6,00 10,0 4,00 5,0 2,00 0,00 0,0 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 20 22.7.2011
Slide 21: EBIT by segment, MEUR
EBIT by segment, MEUR w/o onetime items Newspapers, MEUR & % Kauppalehti Group, MEUR & % 12,0 20 % 3,0 20 % -3,6% 0,0% 17,3 % -22,8% -21,5% 16,5 % 18 % 18 % 10,0 15,8 % 2,5 16 % 2,5 16 % 13,1 % 9,2 9,2 14 % 14 % 8,0 12,4 % 2,0 12 % 2,0 12 % 6,0 6,7 10 % 1,5 8,6 % 10 % 8% 8% 4,0 1,0 1,2 6% 6% 4% 4% 2
Slide 22: EBIT by segment, MEUR
EBIT by segment, MEUR w/o onetime items Marketplaces, MEUR & % Other, MEUR 2,0 18 % 2,5 +1 477,7% +1 364,0% 1,8 16 % 16,2 % 16,3 % 2,0 1,6 14 % 1,4 1,6 1,5 1,5 12 % 1,2 10 % 1,0 1,0 8% 0,8 0,5 6% 0,6 4% 0,0 0,4 -0,3 -0,1 0,2 2% -0,5 -1,5 % 0,0 0% -0,1 -1,0 -1,1 -0,2 -2 % -0,4 -4 % -1,5 Q2 10 Q3 10 Q
Slide 23: Cash flow from operating activities, MEUR
Cash flow from operating activities, MEUR IFRS 30,0 25,0 20,0 15,0 MEUR 10,0 6,5 4,0 5,0 -1,5 0,0 -5,0 Q4 08 Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Tax return 23 22.7.2011
Slide 24: Cash flow and investments, MEUR
Cash flow and investments, MEUR IFRS 7 6,5 0,5 0,3 6 0,0 0,0 5 4,2 4 -0,5 3 MEUR MEUR 2 -1,0 -0,9 1 -1,5 0 -1 -2,0 -2 -1,5 -2,0 -2,5 -2,3 -3 Q2 10 Q2 11 Q2 10 Q2 11 From operating activities Gross investments Before financing activities Proceeds from sales of assets 24 22.7.2011
Slide 25: Net debt, MEUR
Net debt, MEUR IFRS 10 5 0,3 0 -5 -10 -7,9 MEUR -8,5 -15 -14,5 -20 -25 -21,7 -30 -35 -32,4 Q4 08 Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 25 22.7.2011
Slide 26: Key ratios
Key ratios IFRS Equity ratio, % Gearing, % 70 0 -2 60 64,6 -4 56,6 50 -6 -8 40 -10 -10,6 30 -12 -14 20 -16 -17,6 10 -18 0 -20 Q2 10 Q2 11 Q2 10 Q2 11 26 22.7.2011
Slide 27: Key ratios
Key ratios IFRS ROE% ROI% 60 50 45 55,8 45,7 45,7 50 40 47,4 35 40 30 30 25 20 20 15 10 10 5 0 0 Q2 10 Q2 11 Q2 10 Q2 11 27 22.7.2011
Slide 28: EPS and shareholders' equity per share
EPS and shareholders' equity per share 0,25 1,2 1,09 0,19 1,04 0,20 0,19 1,0 0,43 0,34 0,15 0,8 0,10 0,19 0,20 0,6 0,05 0,4 0,66 0,70 0,00 -0,01 0,2 -0,01 -0,05 0,0 Q1-Q2 10 Q1-Q2 11 Q2 10 Q2 11 EPS wo onetime Retained earnings Onetime items Restricted equity 28 22.7.2011
Slide 29: Balance sheet
Balance sheet IFRS MEUR Q2 2011 Q2 2010 Intangibles and goodwill 40,9 39,9 Tangibles 25,2 29,9 Associated companies 33,9 31,2 Inventory 1,1 0,9 Receivables 41,7 29,8 Cash 23,2 18,8 Assets 166,1 150,5 Equity 80,8 82,2 Reserves-obligatory 1,2 0,5 Pension liabilities 2,6 2,9 Ib debt 14,7 4,3 Non-Ib deb
Slide 30: Profit and loss
Profit and loss w/o onetime items MEUR Q2 2011 Q2 2010 Chg Chg % Q1-Q2 2011 Q1-Q2 2010 Chg Chg % Circulation sales 30,3 30,7 -0,4 -1,4 % 61,0 61,4 -0,4 -0,6 % Advertising sales 42,7 38,6 4,2 10,8 % 80,4 73,4 7,0 9,6 % Advertising sales, print 31,2 28,9 2,3 8,1 % 57,9 55,3 2,5 4,6 % Advertising sales
Slide 31: Outlook on July 22, 2011
Outlook on July 22, 2011 • Alma Media estimates that its full-year revenue and operating profit excluding non-recurring items will grow from the 2010 levels. • Revenue in 2010 totalled MEUR 311.4, operating profit excluding non-recurring items MEUR 43.9 and operating profit was MEUR 43.4. 31 22.7.20
Slide 32: Thank you!
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