Grupo Clarin SA Class B · BCBA:GCLA
Grupo Clarin SA Class B — H1 2020 Earnings Presentation
20 slides from Grupo Clarin SA Class B's earnings presentation, Sep 9, 2020
Slide 1: First Half and Second Quarter Results 2020
First Half and Second Quarter Results 2020 September 9th, 2020
Slide 2: Disclaimer: Forward Looking Statements
Disclaimer Forward Looking Statements Certain information included in this presentation may contain projections or other forward-looking statements regarding future events or the future financial performance of Grupo Clarín. You can identify forward-looking statements by terms such as “expect”, “bel
Slide 3: Agenda
Agenda Argentina – Latest Events Income Statement & Financial Debt Business Segments Ownership Structure & Corporate Governance Q & A Session 1H and 2Q 2020 Results - September 9th, 2020
Slide 4: Macroeconomic Environment: Key Indicators
Macroeconomic Environment Key Indicators Consumer Price Index(1) Central Bank Reference Rate(2) % yoy % yoy 56.2 54.1 78.4 51.8 52.2 50.5 47.3 65.0 68.2 44.0 59.3 62.7 55.0 35.4 27.1 40.0 38.0 38.0 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 J
Slide 5: Agenda
Agenda Argentina – Latest Events Income Statement & Financial Debt Business Segments Ownership Structure & Corporate Governance Q & A Session 1H and 2Q 2020 Results - September 9th, 2020
Slide 6: Income Statement: 1H20 & 1H19 yoy figures
Income Statement 1H20 & 1H19 yoy figures Exhibit 1: Net Sales Exhibit 2: Adjusted EBITDA1 EBTIDA Margin (%) % yoy, AR$ MM % yoy, AR$ MM 7.5 14,338 -29% 4.7 +5% 9,736 1,079 9,281 5,057 -55% 936 10,233 1,116 698 497 -34% 380 4,440 4,105 461 485 11 24 9,281 9,736 816 698 4,588 4,947 489 461 1H and 2Q 2
Slide 7: Income Statement: 2Q20 & 2Q19 yoy figures
Income Statement 2Q20 & 2Q19 yoy figures Exhibit 4: Net Sales Exhibit 5: Adjusted EBITDA1 EBTIDA Margin (%) % yoy, AR$ MM % yoy, AR$ MM 8.9 7,915 12.8 -39% -11% -11% 5,342 +26% 701 4,763 2,573 622 474 467 588 398 4,842 29 234 34 12 2,534 79 2,219 595 527 588 5,342 4,763 467 2,557 2,434 1H and 2Q 202
Slide 8: Income Statement: 2Q20 & 2Q19 yoy figures
Income Statement 2Q20 & 2Q19 , yoy figures EBTIDA Margin (%) Exhibit 7: 2Q19 Exhibit 8: 2Q20 AR$ MM AR$ MM (39%) 4,842 7,915 (44%) 2,725 4,889 1H and 2Q 2020 Results - September 9th, 2020 (36%) 1,495 2,325 12.8 8.9 701 622 (11%) Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA S
Slide 9: Financial Debt
Financial Debt Exhibit 9: Key Financial Ratios AR$ MM 22.1 MM at 70.46 ARS/ USD 1H20 1H19 YoY Total Gross Debt Outstanding* 1,556.8 1,921.3 (19.0%) Total Gross Debt Incl. Interests** 1,566.8 1,943.7 (19.4%) Total Net Debt (755.9) (81.0) 833.3% Net Debt/ Adjusted EBITDA1 (0.3x) (0.03x) NA % US$ Debt
Slide 10: Agenda
Agenda Argentina – Latest Events Income Statement & Financial Debt Business Segments Ownership Structure & Corporate Governance Q & A Session 1H and 2Q 2020 Results - September 9th, 2020
Slide 11: Broadcasting & Programming: Revenues & Costs
Broadcasting & Programming Revenues & Costs EBTIDA Margin (%) Exhibit 11: 2Q19 Exhibit 12: 2Q20 AR$ MM AR$ MM 3,780 (40%) 2,258 (45%) 1,226 2,238 1H and 2Q 2020 Results - September 9th, 2020 (26%) 477 642 23.8 24.6 900 556 (38%) Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA S
Slide 12: Broadcasting & Programming II: Key Ratios
Broadcasting & Programming II Key Ratios Exhibit 13: Key Ratios -27% -9% 38.2 39.5 36.0 28.1 2Q19 2Q20 2Q19 2Q20 1H and 2Q 2020 Results - September 9th, 2020 Prime Time1 (%) Advertising Share2 (%) -11% 33.0 29.4 2Q19 2Q20 Total Time1 (%) (1) Share of broadcast TV audience according to IBOPE for AMBA
Slide 13: Printing & Publishing: Revenues & Costs
Printing & Publishing Revenues & Costs EBTIDA Margin (%) Exhibit 14: 2Q19 Exhibit 15: 2Q20 AR$ MM AR$ MM 3,775 (35%) 2,475 2,435 (43%) 1,385 1H and 2Q 2020 Results - September 9th, 2020 (35%) 1,037 1,587 (6.5) 2.2 247 53 Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales Adm
Slide 14: Printing & Publishing II: Key Ratios
Printing & Publishing II Key Ratios Exhibit 16: Key Ratios -6% -3% 234 220 53.3 51.5 2Q19 2Q20 2Q19 2Q20 1H and 2Q 2020 Results - September 9th, 2020 Circulation1 (‘000s) Advertising Share2 (%) +15% 46.7 40.6 2Q19 2Q20 Circulation Share3 (%) (1) Average number of copies according to IVC (including D
Slide 15: Others: Revenues & Costs
Others Revenues & Costs EBTIDA Margin (%) Exhibit 17: 2Q19 Exhibit 18: 2Q20 AR$ MM AR$ MM (41%) 400 677 345 234 (32%) 1H and 2Q 2020 Results - September 9th, 2020 284 153 (46%) 3.3 7.1 48 13 Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales Adm. Sales Adm. Expenses Expenses
Slide 16: Agenda
Agenda Argentina – Latest Events Income Statement & Financial Debt Business Segments Ownership Structure & Corporate Governance Q & A Session 1H and 2Q 2020 Results - September 9th, 2020
Slide 17: Ownership Structure & Corporate Governance
Ownership Structure & Corporate Governance Equity Participation at IPO1 Shareholder Structure3 % Number of Shares4 Free Float Controlling Shareholders2 85.1 MM 20,3% Free Float 21.6 MM • International (42%) • Local (58%) 79,7% 1H and 2Q 2020 Results - September 9th, 2020 Total 106.776 MM Controlling
Slide 18: Agenda
Agenda Argentina – Latest Events Income Statement & Financial Debt Business Segments Ownership Structure & Corporate Governance Q & A Session 1H and 2Q 2020 Results - September 9th, 2020
Slide 19: Q & A Session
Q & A Session September 9th, 2020
Slide 20: First Half and Second Quarter Results
First Half and Second Quarter Results 2020 September 9th, 2020