Alma Media Oyj · OMXHEX:ALMA
Alma Media Oyj — Q3 2012 Earnings Presentation
27 slides from Alma Media Oyj's earnings presentation, Oct 25, 2012
Slide 1: Alma Media Q3 2012
Alma Media Q3 2012 Kai Telanne, President and CEO Tuomas Itkonen, CFO October 25, 2012 1 October 25, 2012
Slide 2: Agenda
Agenda • Q3 2012 in a nutshell • Key strategic projects • Market development in Finland • Financial development and outlook 2 October 25, 2012
Slide 3: Q3 in a nutshell
Q3 in a nutshell • Advertising market declined by 5.3%. — Advertising in newspapers and citypapers decreased by 8.8%. — Advertising in online media continued to grow, up 7.9% from the comparison period. • Alma Media’s revenue at the level of the comparison period, strong growth in online advertising
Slide 4: Revenue at the level of the comparison period
Revenue at the level of the comparison period Revenue, MEUR EBIT, MEUR IFRS IFRS -0,2% +0,2% -33,5% -26,1% 90 14 0,4 80 12 81,3 81,1 81,0 12,0 70 75,1 75,2 10 10,1 60 8 8,9 8,5 50 7,7 6 40 4 30 2 20 0 10 -0,5 -2 -0,7 0 -2,5 -2,9 -4 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Onetime
Slide 5: Digital business is growing
Digital business is growing % 30.0 24.0 24.4 25.0 23.4 20.0 18.0 15.7 15.0 12.9 13.1 10.9 10.0 8.8 5.8 5.0 0.0 2005 2006 2007 2008 2009 2010 2011 Q1 12 Q2 12 Q3 12 Digitaalisten tuotteiden Digital products ja palveluiden & services osuus liikevaihdosta – share of revenue 5 October 25, 2012
Slide 6: Key strategic projects
Key strategic projects • Renewal of Alma Regional Media’s operational model is proceeding. — The business unit agreed on wide-ranging operational content collaboration with newspapers Ilkka and Pohjalainen, cooperation is expected to be in full operation in the beginning of 2014. • Online dating ser
Slide 7: Market development in Finland
Market development in Finland 7 October 25, 2012
Slide 8: Advertising sales change Q3 / 2012
Advertising sales change Q3 / 2012 Cumulative development (Change-% versus previous year) 15 % 10 % Change Q3, % Newspapers -8,8 total 5% Magazines -9,5 Television -1,6 0% Radio -9,1 Internet 7,9 -5 % Total -5,3 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2011 2012 Source: TNS Media Intelligence
Slide 9: Advertising by branch Q3/2012
Advertising by branch Q3/2012 Total market; change from Q3/2011 Advertising in Q3/12 MEUR Retail -3,9 % Retail 55 Motor v. -9,1 % Motor vehicles 22 Food & bev. -8,4 % Food & beverages 17 Houses 1,2 % Houses and premises 13 Entert -3,3 % Entertainment 11 Recru -19,3 % Recruiting 9 Tourism -12,8 % Tou
Slide 10: Advertising by branch Q3/2012
Advertising by branch Q3/2012 Newspapers total*; change from Q3/2011 Advertising in Q3/12 MEUR Retail -9,1 % Retail 38 Motor v. -8,9 % Motor vehicles 13 Houses 6,4 % Houses and premises 9 Recru -21,3 % Recruiting 5 Entert -6,4 % Entertainment 5 Tourism -12,7 % Tourism and traffic 3 Food & bev. -29,8
Slide 11: Financial development and outlook
Financial development and outlook 11 October 25, 2012
Slide 12: Revenue at the level of the comparison period, operating profit decreased
Revenue at the level of the comparison period, operating profit decreased Revenue, MEUR EBIT, MEUR IFRS IFRS -0,2% +0,2% -33,5% -26,1% 90 14 0,4 80 12 81,3 81,1 81,0 12,0 70 75,1 75,2 10 10,1 60 8 8,9 8,5 50 7,7 6 40 4 30 2 20 0 10 -0,5 -2 -0,7 0 -2,5 -2,9 -4 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q3 11 Q4 1
Slide 13: Advertising revenue grew due to acquisitions made
Advertising revenue grew due to acquisitions made IFRS Circulation revenue, change MEUR & % Advertising revenue, change MEUR & % 13 October 25, 2012
Slide 14: Newspapers Q3
Newspapers Q3 • Advertising sales declined by 5.6% Newspapers, revenue and EBIT MEUR & % (-2.3%) to MEUR 21.7 (22.9). Excl. non-recurring items • Advertising sales in print media fell by 8.1% (-3.6%). 65,0 -6,9% -6,8% 30 % • Online advertising sales grew faster 55,0 than market, 20.9% (13.6%). 25 %
Slide 15: Kauppalehti Group Q3
Kauppalehti Group Q3 • Advertising sales decreased by 6.5% Kauppalehti Group, revenue and EBIT, MEUR & % (-12.9%) to MEUR 2.9 (3.2). Excl. non-recurring items • Online advertising declined by 17,0 -3,8% +1,0% 30 % 13.0% (-10.7%). 15,0 • Circulation revenue decreased by 25 % 14,4 5.5% (+0.9%) to MEUR
Slide 16: Digital Consumer Services Q3
Digital Consumer Services Q3 Digital Consumer Services, • Growth in revenue was attributable revenue and EBIT, MEUR & % to the business operations acquired Excl. non-recurring items in the beginning of the year and during the review period. 16,0 +27,0% +28,9% 30 % • Advertising sales for home sales
Slide 17: Other Operations Q3
Other Operations Q3 • Revenue grew to MEUR 21.2, of Other Operations, revenue and EBIT, MEUR & % which MEUR 1.6 (1.3) external Excl. non-recurring items revenue. • Total expenses excl. non-recurring +4,3% +5,8% 25,0 items were MEUR 21.4 (18.8). 20,0 21,0 21,2 • Due to the reorganisation of 20,1 news
Slide 18: Cash flow from operating activities
Cash flow from operating activities IFRS 30,0 25,0 20,0 15,0 MEUR 10,0 5,0 4,7 4,4 1,3 0,0 -5,0 -10,0 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Tax return and final withholding tax 18 October 25, 2012
Slide 19: Cash flow and investments
Cash flow and investments IFRS 5 1,0 0,2 4 4,4 0,0 3,9 0,0 -0,5 3 2 -1,0 1 MEUR 1,3 MEUR -2,0 0 -1 -3,0 -2 -2,9 -4,0 -4,4 -3 -4 -5,0 Q3 11 Q3 12 Q3 11 Q3 12 From operating activities Gross investments Before financing activities Proceeds from sales of assets 19 October 25, 2012
Slide 20: Net debt
Net debt IFRS 60 50 40 42,2 42,9 46,1 30 20 MEUR 10 0,0 0 -12,4 -10 -20 -32,3 -30 -40 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 20 October 25, 2012
Slide 21: Key ratios
Key ratios IFRS Equity ratio, % Gearing, % 70 60 64,6 56,3 60 50 40 50 30 40 39,8 20 30 10 20 0 10 -10 -13,3 0 -20 Q3 11 Q3 12 Q3 11 Q3 12 21 October 25, 2012
Slide 22: Key ratios
Key ratios IFRS ROE, % ROI, % 80 70 70 60 69,2 61,0 60 50 50 48,8 40 40 30 30 26,6 20 20 10 10 0 0 Q3 2011 Q3 2012 Q3 2011 Q3 2012 22 October 25, 2012
Slide 23: EPS and shareholders’ equity per share
EPS and shareholders’ equity per share IFRS 0,40 1,4 0,36 0,35 1,20 1,05 1,2 0,30 0,20 0,25 1,0 0,49 0,20 0,35 0,36 0,15 0,8 0,27 0,10 0,6 0,05 0,00 0,4 0,70 0,70 0,00 -0,08 -0,05 0,2 -0,10 -0,15 0,0 Q3 11 Q3 12 Q3 11 Q3 12 Retained earnings EPS wo onetime Onetime items Restricted equity 23 October
Slide 24: Balance sheet
Balance sheet IFRS MEUR Q3 2012 Q3 2011 Intangibles and goodwill 91,7 40,5 Tangibles 37,7 24,1 Associated companies 33,6 35,4 Inventory 0,7 1,1 Receivables 40,1 41,9 Cash 20,9 20,9 Assets 224,7 163,8 Equity 81,9 93,1 Reserves-obligatory 0,4 1,0 Pension liabilities 2,4 2,6 Ib debt 67,0 8,5 Non-Ib deb
Slide 25: Key figures
Key figures MEUR 2012 2011 Change 2012 2011 Change 2011 7-9 7-9 % 1-9 1-9 % 1-12 Revenue 75,2 75,1 0,2 237,4 234,9 1,1 316,2 Total expenses excluding non-recurring items 66,4 63,1 5,2 212,6 202,2 5,2 273,6 Ebitda excluding non-recurring items 12,0 14,2 -15,3 34,5 39,6 -13,0 51,9 Operating profit exc
Slide 26: Outlook for 2012
Outlook for 2012 October 25, 2012 Due to the uncertainty prevailing in the macroeconomic conditions of the Group’s main markets, it is exceptionally difficult to estimate the development of circulation and advertising revenues. Digital services are expected to further increase their share of the med
Slide 27: Thank you!
Thank you! 27 October 25, 2012