ProSiebenSat.1 Media SE · XETR:PSM
ProSiebenSat.1 Media — Q1 2005 Earnings Presentation
20 slides from ProSiebenSat.1 Media's earnings presentation, May 13, 2005
Slide 1: Q1 2005 Results
Q1 2005 Results Guillaume de Posch, Chief Executive Officer Lothar Lanz, Chief Financial Officer, Legal Affairs & Human Resources Munich, May 13, 2005
Slide 2: Agenda
Agenda Q1 2005 Financials (IFRS) Outlook 2005 Seite 2
Slide 3: ProSiebenSat.1 Group: First Quarter 2005
ProSiebenSat.1 Group: First Quarter 2005 Revenue decline partly offset by cost reductions. Revenues and costs of ProSiebenSat.1 Group in EUR million. Revenues (in EUR m) Costs (in EUR m) 500 500 436.3 -1.4% 430.0 400 400 380.8 -1.0% 377.0 300 300 200 200 100 100 0 0 Q1 2004 Q1 2005 Q1 2004 Q1 2005 S
Slide 4: First Quarter 2005 - Costs
ProSiebenSat.1 Group: First Quarter 2005 - Costs The biggest part of the EUR 30 million cost savings will come into effect in the second half of 2005. Total costs of ProSiebenSat.1 Group by line item Q1 2005 vs. Q1 2004 in EUR million. -1% +0.4% -1% -5% +2% -18% 350 Total cost cuts: 302.9 299.2 EUR
Slide 5: First Quarter 2005 - Results
ProSiebenSat.1 Group: First Quarter 2005 - Results Pre-tax profit increased due to an improved financial result. EBITDA and Pre-tax profit of the ProSiebenSat.1 Group in EUR million. EBITDA (in EUR m) Pre-tax profit (in EUR m) 80 50 +8% 47.1 69.1 -7% 43.5 64.2 40 60 30 40 20 20 10 0 0 Q1 2004 Q1 200
Slide 6: First Quarter 2005 - Net Debt
ProSiebenSat.1 Group: First Quarter 2005 - Net Debt Capital increase in 2004 and better operating cash flows cut net financial debt. ProSiebenSat.1 Group net financial debt in Q1 2005 vs. Q1 2004 in EUR million. Net debt/EBITDA Current long-term credit ratings: 3.1x 1.0x 792.8 Moody‘s: Ba1 (stable)
Slide 7: First Quarter 2005 - Key Figures
ProSiebenSat.1 Group: First Quarter 2005 - Key Figures Key figures income/cash flow statement and balance sheet. Q1 2005 Q1 2004 changes EUR m EUR m EUR m percent Revenues 430.0 436.3 -6.3 -1 EBITDA 64.2 69.1 -4.9 -7 EBIT 56.8 60.4 -3.6 -6 Income from ordinary business activities 47.1 43.5 3.6 8 Con
Slide 8: First Quarter 2005 - Stations
ProSiebenSat.1 Group: First Quarter 2005 - Stations The overcast situation in the advertising market especially affected the two larger stations Sat.1 and ProSieben. Revenues EBITDA Pre-tax profit EUR m EUR m -14% EUR m -18% -3% 186.9 21.3 19.5 EUR m EUR m -27% EUR m +10% -26% 192.4 25.3 25.9 EUR m
Slide 9: First Quarter 2005 - Diversification
ProSiebenSat.1 Group: First Quarter 2005 - Diversification SevenOne Intermedia boosted its revenues by call TV and internet activities. The changes in Merchandising are primarily the result of reorganisation. Revenues EBITDA Pre-tax profit SevenOne EUR m EUR m EUR m Intermedia +54% -4% -22% 20.7 2.7
Slide 10: Agenda
Agenda Q1 2005 Financials (IFRS) Outlook 2005 Seite 10
Slide 11: Outlook 2005: Economic environment
Outlook 2005: Economic environment Economic outlook for Germany 2005 is continuously revised downwards. GDP development, changes year on year in percent. 3.0 2.9 2.5 2.0 2.0 1.7 1.5 1.0 0.8 0.7 0.5 0.1 0.0 -0.1 -0.5 1999 2000 2001 2002 2003 2004 2005e* Source: Statistisches Bundesamt, *spring survey
Slide 12: Outlook 2005: TV advertising market
Outlook 2005: TV advertising market German TV advertising market is now expected to decrease in 2005. Net TV-adspend, changes year on year in percent. 10 9.1 6.3 6.8 5 0 0 1998 1999 2000 2001 2002 2003 2004e* 2005e* -2.0 -5 -3.7 -5.1 -10 -11.5 -15 Source: ZAW/*own estimates Seite 12
Slide 13: Audience share 2005
ProSiebenSat.1 Group: Audience share 2005 Core Business TV: The group had a very successful start in 2005. Audience market share ProSiebenSat.1 Group* 2002 – 2004, April 2005, target group 14-49 years, in percent. 31 30.4 30 29.4 29 28.9 28.1 28 27 2002 2003 2004 YTD 2005 *Sat.1, ProSieben, Kabel 1,
Slide 14: Top Programs 2005
ProSiebenSat.1 Group: Top Programs 2005 All four stations contribute to the success of ProSiebenSat.1 Media AG. Top ratings 2005 To come 2005 UEFA C. L. (up to 30.6%) Finals UEFA Champions League That‘s Live (up to 23.4%) Die Comedy-Falle Ein Zwilling ist nicht genug (20.2%) Nicht salonfähig Der Bul
Slide 15: Strategic Goals 2005
ProSiebenSat.1 Group: Strategic Goals 2005 ProSiebenSat.1 Group has for 2005 three superior objectives for the Group´s future strategic positioning and for the optimization of revenues and operating profit. Increase of revenues and optimization of operating profit Strengthening of core Expansion of
Slide 16: Outlook for 2005 - Diversification: Acquisition of Euvia Media
ProSiebenSat.1 Group: Outlook for 2005 - Diversification Acquisition of Euvia Media: The ProSiebenSat.1 Group is about to acquire the remaining 51.6% of the shares of Euvia Media AG & Co. KG. ProSiebenSat.1 Media AG Euvia Media offers interactive programming and services 100%* Euvia Media is finance
Slide 17: Outlook 2005 - Euvia
ProSiebenSat.1 Group: Outlook 2005 - Euvia With the acquisition of Euvia Media, the Group will fully consolidate revenues and profits (expected from H2 2005 onwards). In EUR million. 120 102 100 92 80 63 60 Revenues 40 28 EBITDA 21 22 20 0 0 2001* 2002 2003 2004 -20 -40 -34 Source: Euvia Media, *sho
Slide 18: Outlook for 2005 - Diversification
ProSiebenSat.1 Group: Outlook for 2005 - Diversification Diversification of a TV company. A mass medium becomes a customized service platform. The anonymous viewer becomes a personal customer. Share of revenues by 2007/2008: 15% Interactive services Direct response Retail Digital TV Teletext Direct
Slide 19: Goals 2005
ProSiebenSat.1 Group: Goals 2005 2005 will be a strategically significant year for the ProSiebenSat.1 Group. The Group has set clear goals for this year. 1. Higher revenues and earnings 2. Further improvement in profitability 3. Reduction in costs 4. Further increase in audience share 5. Expansion o
Slide 20: ProSiebenSat.1 Media AG Investor Relations contact
ProSiebenSat.1 Media AG Ralf P. Gierig Director Finance & Investor Relations Medienallee 7 D-85774 Unterföhring Tel. +49/89/95 07- 1502 Fax +49/89/95 07- 1521 Seite 20