Vocento, S.a. · BME:VOC
Vocento — FY2009 Earnings Presentation
17 slides from Vocento's earnings presentation, Feb 25, 2010
Slide 1: 2009 Results
2009 09 Results 25 February 2010
Slide 2: Goals achieved in 2009
Goals achieved in 2009 Increased share of advertising market Restructuring and sound financial position Consolidation of ABC growth Leadership and growth on Internet Positioning and profitability in Audiovisual
Slide 3: VOC outperforms the market in advertising
VOC outperforms the market in advertising Outperformance in advertising (2009 -21.7%) vs. market based on leadership of the Press and positioning in Internet - Press: 2009 Regional Press advertising -23.3% and ABC -18.3% vs. -26.5% market1 - Supplements: 2009 advertising -25.4% vs. -34.3% market1 -
Slide 4: Restructuring effort and sound financial position
Restructuring effort and sound financial position Restructuring effort (non-recurring costs 2009 €-65.3m, particularly Regional Press and ABC) with an increasing impact on cost savings - Costs reductions ex non recurring costs 2009 €-111.5m, -13.5% - Personnel costs savings ex non recurring costs 20
Slide 5: ABC: growth consolidation
ABC: growth consolidation Strong growth in ABC circulation… circulation… - Increasing in circulation vs. market decline (2009 +2.0% vs. -10.2% market1) - Closing gap vs. El Mundo to 40k copies in 2009 vs. 100k in 2007 - Growth based on ordinary sales (individual subscriptions and kiosk sales): • Ord
Slide 6: VOC positioned as a leader in Internet media
VOC positioned as a leader in Internet media VOC is the leading media company in Internet with 10.3m users (Netview Jan10 +16.8%) - Brands diversification: News (brand strength migration from offline-online), Classified, Directories and Verticals Growth in VOC Internet advertising > market: market +
Slide 7: Positioning and profitability in Audiovisual
Positioning and profitability in Audiovisual National DTT: strategic agreement with Walt Disney and DTT leadership in thematic channels - positive EBITDA €2.8m vs. €-0.4m in 2008 17% Share of audiences Dec 2007/09 (%) 17% Dec 2009 Ranking of DTT audiences 7.5 Total DTT 2009 78.8 10.2 17% 3.5 share (
Slide 8: Prepared to face the challenges and emerge as a stronger group
Prepared to face the challenges and emerge as a stronger group Sound financial position Reduction of costs and restructuring beginning Strengths for for Strengths the Economic the Economic in 2008 Cycle Cycle Positioned to capture TVE advertising and changes in advertising planning Strength of Regio
Slide 9: Financial Information
Financial Information 2009 9
Slide 10: Consolidated Profit and Loss Account 2009
Consolidated Profit and Loss Account 2009 Highlights Revenues €751.2m: NIIF - Circulation sales +1.6%: ABC +12.1%, and Regional €m 2009 2008 VarVar % % Press -0.7% Circulation revenues 274.2 270.0 1.6% Advertising revenues -21.7% vs. 9M09 -25.2%: Advertising revenues 274.6 350.9 (21.7%) slowdown in
Slide 11: Consolidated Balance Sheet December 2009
Consolidated Balance Sheet 31 December 2009 IFRS IFRS 1 2009 2008 2009 2008 1 Non current assets 701.2 766.8 Equity of the parent co. 424.1 484.8 Intangible assets 277.3 293.0 Property, plant and equipment 230.4 215.0 Total liabilities 626.4 629.0 Investments equity method 20.0 19.1 Gross Debt 200.2
Slide 12: Print Media
Print Media Revenues Highlights (€ m) Leadership in press: main player in Regional Press (circulation 582.1 513.0 market share 2009 26.1%). ABC the only daily to increase 24.8 circulation in 2009 (+2.0% vs. market -10.2%) and also 78.3 14.9 readership (+2.6% vs. market -5.9%) 60.9 Revenues €513.0m:
Slide 13: Audiovisual
Audiovisual Revenues Highlights (€ m) Disney Channel leading thematic channel in TNS Sofres 133.4 111.4 ranking (Dec09 3.1%). DTT consumption up to share of 52.8% in Dec09, +30.9 p.p. vs. 2008 according to TNS Sofres Strategic agreement with Viacom in Regional DTT. Launch of 90.9 new programming in
Slide 14: Internet
Internet Revenues Highlights (€ m) 58.9 Continues increasing of advertising at double digit rate (2009 52.2 +21.0%) vs. market +3.1%1. Internet means 8.7% of VOC´s total advertising (+3.1 p.p. vs. 2008) 27.4 19.9 Internet leadership in media sector with growth audience (+16.8% unique monthly users2)
Slide 15: Other Businesses
Other Businesses Revenues Highlights (€ m) 218.6 215.9 13.9 12.1 32.0 32.0 Operating revenues €215.9m (-1.2%), reflecting the ties of the Printing and Distribution business to the Print Media area 174.0 172.7 Outsourcing of ABC printing plant (Rotomadrid). Enabling full colour printing from Nov09 (1
Slide 16: Legal Disclaimer
Legal Disclaimer This document contains statements that constitute forward looking statements in its general meaning and within the meaning of the Private Securities Litigation Reform Act of 1995. These statements appear in a number of places in this document and include statements regarding future
Slide 17: Investor Relations
Investor Relations Investor Relations Director Loles Mendoza Investor Relations Javier García Echegaray C/ Juan Ignacio Luca de Tena, 7 28027 Madrid Tel.: 91.339.98.09 Fax: 91.742.63.52 e-mail: ir@vocento.com