Grupo Clarin SA Class B · BCBA:GCLA
Grupo Clarin SA Class B — Q2 2016 Earnings Presentation
29 slides from Grupo Clarin SA Class B's earnings presentation, Aug 11, 2016
Slide 1: First Half and Second Quarter Results 2016
First Half and Second Quarter Results 2016 August 11th, 2016
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 Sales & EBITDA Growth Financial Debt Cable TV, Internet Access & Telephony Printing & Publishing Broadcasting & Programming 1H and 2Q Results - August 11th, 2016 Digital Content & Others CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 4: Agenda: Argentina – Latest Events
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV, Internet Access & Telephony Printing & Publishing Broadcasting & Programming 1H and 2Q Results - August 11th, 2016 Digital Content & Others CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 5: Income Statement 1H16 & 1H15
Income Statement 1H16 & 1H15 yoy figures Exhibit 1: Net Sales Exhibit 2: Adjusted EBITDA1 EBTIDA Margin (%) % yoy, AR$ MM % yoy, AR$ MM 30.6 +49% 18,724 31.6 +44% 5,722 1,915 524 406 2,609 12,556 3,963 338 321 42 1,474 1,972 5,339 93% 14,243 3,602 9,232 1H and 2Q Results - August 11th, 2016 -1 -4 -2
Slide 6: Income Statement 2Q16 & 2Q15
Income Statement 2Q16 & 2Q15, yoy figures Exhibit 4: Net Sales Exhibit 5: Adjusted EBITDA1 EBTIDA Margin (%) % yoy, AR$ MM % yoy, AR$ MM 29.5 +48% 9,739 30.8 +42% 2,877 250 1,203 333 4 1,395 6,586 2,027 153 279 917 33 1,073 2,561 89% 7,174 1,720 4,673 1H and 2Q Results - August 11th, 2016 -6 0 -21 0
Slide 7: Income Statement 2Q16 & 2Q15 Cost Breakdown
Income Statement 2Q16 & 2Q15, yoy figures EBTIDA Margin (%) Exhibit 7: 2Q15 Exhibit 8: 2Q16 AR$ MM AR$ MM 9,739 6,586 48% 2,923 4,311 47% 56% 1,635 2,551 1H and 2Q Results - August 11th, 2016 30.8 29.5 2,027 2,877 42% Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales Adm. S
Slide 8: Agenda: Financial Debt
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV, Internet Access & Telephony Printing & Publishing Broadcasting & Programming 1H and 2Q Results - August 11th, 2016 Digital Content & Others CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 9: Financial Debt
Financial Debt Exhibit 9: Key Financial Ratios AR$ MM 736 MM at 15.04 ARS/ USD 6M16 3M16 6M15 QoQ YoY Total Gross Debt Outstanding* 11,066.1 7,605.7 5,382.1 45.5% 105.6% Total Gross Debt Incl. Interests** 11,103.3 7,720.2 5,522.6 43.8% 101.1% Total Net Debt 6,532.0 3,449.6 2,480.7 89.4% 163.3% Net D
Slide 10: Agenda: Cable TV, Internet Access & Telephony
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV, Internet Access & Telephony Printing & Publishing Broadcasting & Programming 1H and 2Q Results - August 11th, 2016 Digital Content & Others CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 11: Cable TV & Internet Access Revenues & Costs
Cable TV, Internet Access & Telephony I Revenues & Costs EBTIDA Margin (%) Exhibit 11: 2Q15 Exhibit 12: 2Q16(*) AR$ MM AR$ MM 4,673 54% 7,174 1,854 53% 2,843 1,098 61% 35.7 36.8 1,770 1,720 49% 2,561 Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA 1H and 2Q Results - August 11t
Slide 12: Key Ratios: Cable & Internet Access Statistics
Cable TV, Internet Access & Telephony II Key Ratios Exhibit 10: Cable & Internet Access Statistics ‘000s 1H16 1H15 % Ch. 2Q16 1Q16 2Q15 QoQ YoY Homes Passed(*) 7.815,4 7.732,2 1,1% 7.815,4 7.812,9 7.732,2 0,0% 1,1% Bidirectional Homes Passed 73,4% 69,0% 6,3% 73,4% 73,1% 69,0% 0,5% 6,3% Total CATV Su
Slide 13: Key Ratios for Cable TV and Internet Access
Cable TV, Internet Access & Telephony III Key Ratios for Cable TV and Internet Access Exhibit 12: Unique Subs(1) Exhibit 13: Total Cable Subs Exhibit 14: Total Equity Subs(1) ‘000s ‘000s ‘000s 2% 0% 0% 3.837 3.900 3.511 3.522 3.641 3.654 +63 +11 +13 2Q15 2Q16 1Q15 1Q16 2Q15 2Q16 Exhibit 15: Internet
Slide 14: Agenda: Printing & Publishing
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV, Internet Access & Telephony Printing & Publishing Broadcasting & Programming 1H and 2Q Results - August 11th, 2016 Digital Content & Others CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 15: Printing & Publishing Revenues & Costs
Printing & Publishing Revenues & Costs EBTIDA Margin (%) Exhibit 21: 2Q15 Exhibit 22: 2Q16 AR$ MM AR$ MM 1,073 30% 1,395 35% 604 819 31% 436 573 0.3 3.1 (89%) 33 4 Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA 1H and 2Q Results - August 11th, 2016 Sales Adm. Sales Adm. Expens
Slide 16: Printing & Publishing Key Ratios
Printing & Publishing II Key Ratios Exhibit 25: Key Ratios -9% 0% 262 51.4 51.5 237 2Q15 2Q16 2Q15 2Q16 Circulation1 (‘000s) +3% Advertising Share2 (%) 39.2 40.5 1H and 2Q Results - August 11th, 2016 2Q15 2Q16 Circulation Share3 (%) (1) Average number of copies according to IVC (including Diario Cla
Slide 17: Agenda: Broadcasting & Programming
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV, Internet Access & Telephony Printing & Publishing Broadcasting & Programming 1H and 2Q Results - August 11th, 2016 Digital Content & Others CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 18: Broadcasting & Programming Revenues & Costs
Broadcasting & Programming Revenues & Costs EBTIDA Margin (%) Exhibit 26: 2Q15 Exhibit 27: 2Q16 AR$ MM AR$ MM 917 31% 1,203 31% 483 632 54% 155 30.5 27.7 238 279 19% 333 Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA 1H and 2Q Results - August 11th, 2016 Sales Adm. Sales Adm.
Slide 19: Broadcasting & Programming Key Ratios
Broadcasting & Programming II Key Ratios Exhibit 30: Key Ratios -17% 0% 37.6 38.6 38.6 31.4 2Q15 2Q16 2Q15 2Q16 Prime Time1 (%) Advertising Share2 (%) +3% 1H and 2Q Results - August 11th, 2016 30.2 31.1 2Q15 2Q16 Total Time1 (%) (1) Share of broadcast TV audience according to IBOPE for AMBA. Prime t
Slide 20: Agenda: Digital Content & Others
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV, Internet Access & Telephony Printing & Publishing Broadcasting & Programming 1H and 2Q Results - August 11th, 2016 Digital Content & Others CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 21: Digital Content & Others Revenues & Costs
Digital Content & Others Revenues & Costs EBTIDA Margin (%) Exhibit 31: 2Q15 Exhibit 32: 2Q16 AR$ MM AR$ MM 63% 250 153 85% 80 149 55% 78 121 (8.3) (3.9) 248% 6 21 Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA 1H and 2Q Results - August 11th, 2016 Sales Adm. Sales Adm. Expens
Slide 22: Agenda: CAPEX & Net Sales
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV, Internet Access & Telephony Printing & Publishing Broadcasting & Programming 1H and 2Q Results - August 11th, 2016 Digital Content & Others CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 23: Capex 1H15 & 1H16
Capex & Net Sales 1H15 & 1H16, YoY figures Exhibit 35: Capex & Net Sales 12,556 18,724 338 524 1,474 1,915 1H16 CAPEX Breakdown 1,972 2,609 1% 2% 0% 9,232 14,243 12.2% 20.0% 1 3,746 8 29 73 1H and 2Q Results - August 11th, 2016 1,526 22 45 3,620 97% 1,475 -459 -566 1H15 1H15 1H16 1H16 Net Sales Cape
Slide 24: Capex 2Q15 & 2Q16
Capex & Net Sales 2Q15 & 2Q16, YoY figures Exhibit 36: Capex & Net Sales 6,586 9,739 153 250 917 1,203 2Q16 CAPEX Breakdown 1,073 1,395 1.4% 1.6% 0.0% 4,673 7,174 21.1% 13.5% 0 2,061 1 892 16 34 1H and 2Q Results - August 11th, 2016 12 29 1,998 96.9% 864 -230 -283 2Q15 2Q15 2Q16 2Q16 Net Sales Capex
Slide 25: Agenda: Ownership Structure & Corporate Governance
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV, Internet Access & Telephony Printing & Publishing Broadcasting & Programming 1H and 2Q Results - August 11th, 2016 Digital Content & Others CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 26: Equity Participation at IPO and Shareholder Structure
Ownership Structure & Corporate Governance Exhibit 37: Equity Participation at IPO1 Exhibit 38: Shareholder Structure % Number of Shares4 Free Float Controlling Shareholders 204,030,227 20,3% GS Unidos, LLC (RB) 25,156,869 GS Unidos, 8,8% Free Float 58,231,488 LLC (RB)3 70,9% • International 27,203,
Slide 27: Agenda: Q & A Session
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV, Internet Access & Telephony Printing & Publishing Broadcasting & Programming 1H and 2Q Results - August 11th, 2016 Digital Content & Others CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 28: Q & A Session
Q & A Session August 11th, 2016
Slide 29: First Half and Second Quarter Results 2016
First Half and Second Quarter Results 2016 August 11th, 2016