Prosiebensat.1 Media Se · XETR:PSM

Prosiebensat.1 Media — Q1 2020 Earnings Presentation

24 slides from Prosiebensat.1 Media's earnings presentation, May 11, 2020

  1. Slide 1: Q1 2020 Results Presentation

  2. Slide 2: Agenda

    AGENDA ProSiebenSat. Media SE

  3. Slide 3: Status Quo: Germany with first measures to ease the lockdown

    STATUS QUO GERMANY WITH FIRST MEASURES TO EASE THE LOCKDOWN COVID-19 Status Quo in Germany” Corona infections Beginning of May, in thousand step-by step opening 80 of some facilities (e.g barber shops) rs 60 April 20% ¢ First measures to ease lockdown in Germany: H 40 Shops with up to 800 square met

  4. Slide 4: Status Quo: TV and online video outperforming other traditional media

    STATUS QUO IN RELATIVE TERMS TV AND ONLINE VIDEO ARE OUTPERFORMING OTHER TRADITIONAL MEDIA Change in daily reach since beginning of COVID-19 lockdown In %; March 2 - March 15 vs. March 16 - March 29, 2020; A14-69 vv mm: Ad VoD 15 = Video usage uptake due Online Activities 5 to confinement measures =

  5. Slide 5: Status Quo

    STATUS QUO +16% +11% @ daily net +12% Joyn +19% TVV March 2020 viewers March AGOF Unique Parship Group vs. PM? 2020 vs. PM Users March vs. registrations during (A 14-29)) PM reaching 4m? Easter holidays vs. PY” Top 20 of TV relevant industries with highest reduction in TV advertising spend (gross) (

  6. Slide 6: Brands that advertise in crisis secure market shares long-term

    STATUS QUO BRANDS THAT ADVERTISE IN TIMES OF CRISIS SECURE MARKET SHARES IN THE LONG-TERM Market share winners vs. market share losers Analysis of 959 manufacturer brands 2001-2009; Index 2001=100" 186 ——Ad spend winners — — Market share winners 100 —— Ad spend losers “There's a big upside here in t

  7. Slide 7: Agenda: Financials

    AGENDA ProSiebenSat. Media SE J FINANCIALS

  8. Slide 8: Q1 Financials: External revenues Group & segments

    Q1 FINANCIALS External revenues: Group & segments [in EUR m] Q12020 Q1 2019 YoY Group 926 913 +H% g revenues Organic 912 918 1% gital & smart istribution (+9% Sevendne Entertainment 563 579 -3% (+9%) roup Organic 563 58! 3% t revenue development of Red Red Arrow Studios 134 135 -0% ‘ow Studios based

  9. Slide 9: Q1 Financials: Adjusted EBITDA Group & segments

    Q1 FINANCIALS Adjusted EBITDA: Group & segments [in EUR m] Q12020 Q1 2019 YoY Group 157 190 -17% SevenOne Entertainment 141 178 -21% dios’ adjusted EBITDA Group in line with about flat e development in Q1 2020 Red Arrow Studios 8 8 +0% " Adjusted EBITDA of NuCom Group reflects less favorable revenue

  10. Slide 10: Q1 Financials: EBIT, net income, FCF before M&A

    Q1 FINANCIALS EBIT, net income, adjusted net income, FCF before M&A [in EUR m] Q12020 Q1 2019 YoY EBIT 80 129 -38% Net income” 37 122 -70% Adjusted net income2) 58 94 -38% sulting from valuation effects Narrowing FCF before M&A loss due to strict cash management; Q1 2020 reflects FCF before M&A -28

  11. Slide 11: Solid liquidity position and no financial covenants

    Q1 FINANCIALS SOLID LIQUIDITY POSITION AND NO FINANCIAL COVENANTS FOR GROUP’S DEBT INSTRUMENTS Net financial debt [in EUR m] 2,245 12/31/2019 2,294 O Financial leverage 03/31/2020 = ProSiebenSat.1 Group with cash position of EUR 898m at the end of Q1 2020 and, hence, significant liquidity available

  12. Slide 12: Agenda: Actions & Summary

    AGENDA NS & SUMMARY ProSiebenSat. Media SE

  13. Slide 13: Segment cost structures and measures to secure Group liquidity

    ACTIONS & SUMMARY SEGMENT COST STRUCTURES AND MEASURES TO SECURE GROUP LIQUIDITY Illustrative cost split by segment (based on FY 2019) Administrative expenses & other (largely fixed) ™Program costs (rather fixed) ™Cost of sales and selling expenses (partly fixed) 35% ~85% <85% ~] >15Y 10% BO me Seve

  14. Slide 14: Actions & Summary: outlook withdrawal and dividend

    ACTIONS & SUMMARY Withdrawal of 2020 financial outlook due to lack of visibility on COVID-19 related impacts and economic uncertainty Withdrawal of initial 2019 dividend proposal to preserve an additional liquidity of EUR 192m Current dividend policy with a pay-out-ratio of 50% of Group adjusted net

  15. Slide 15: Entertainment at the core of ProSiebenSat.1

    ACTIONS & SUMMARY ENTERTAINMENT AT THE CORE OF PROSIEBENSAT.1 nSa' Pro: Group Leading Entertainment player in Germany, Austria and Switzerland, combining Entertainment, Commerce and Content Production pillars to form one synergistic business model that reduces dependency on advertising revenues and

  16. Slide 16: ProSiebenSat.1 Media SE

    SS ProSiebenSat.1 04 Media SE »* ~ ~

  17. Slide 17: Appendix: Group financials

    APPENDIX [in EUR m] Revenues 926 913 +H1% Adjusted EBITDA 157 190 17% Reconciling items 2 10 422% EBITDA 145 180 -20% feos amortization and 64 51 +26% Thereof PPA 16 A2 +27% Operating result (EBIT) 80 129 -38% Financial result 38 49 n/a Thereof interest result 16 410 +60% Result before income taxes

  18. Slide 18: External revenues and adjusted EBITDA: SevenOne Entertainment

    APPENDIX External revenues and adjusted EBITDA [in EUR m] Q12020 External revenues 563 Organic 563 Advertising 486 TV core advertising 447 Digital & smart advertising 39 Distribution 4 Other 36 Adjusted EBITDA 141 Q1 2019 YoY 579 -3% 581 3% 507 -4% 478 -6% 30 +32% 38 +9% 34 +5% 178 “21% Media SE Not

  19. Slide 19: External revenues and adjusted EBITDA: Red Arrow Studios

    APPENDIX External revenues and adjusted EBITDA [in EUR m] Q12020 External revenues 134 Organic 134 Production 5S} Global Sales 23 Studio71 S7 Adjusted EBITDA 8 MediaSE Q1 2019 YoY 135 -0% 138 3% 64 16% 22 +5% 49 +H7% 8 +0% Note: Organic growth refers to portfolio and currency-adjusted growth revenue

  20. Slide 20: External revenues and adjusted EBITDA: NuCom Group

    APPENDIX External revenues and adjusted EBITDA [in EUR m] Q12020 External revenues 228 Organic 214 Consumer Advice 61 Matchmaking 59 Experiences 14 Beauty & Lifestyle 93 Other -/- Adjusted EBITDA 15 Q1 2019 YoY 199 +15% 199 +8% 53 +15% 53 +H12% 15 1% 77 +21% 1 100% 19 -20% MediaSE Note: Organic grow

  21. Slide 21: FCF before M&A improved to EUR 373m on last 12-month basis

    APPENDIX FCF BEFORE M&A IMPROVED TO EUR 373M ON LAST 12-MONTH BASIS (BEFORE COVID-19 CRISIS) Net financial debt [in EUR m] 03/31/2019 -2,206 ProSiebenSat. Media SE Dividend M&A Capex Disposals FCF before M&A -EUR 162m || : Net M&A related capex 188 27 373 Others 03/31/2020 2,294 O Financial leverage

  22. Slide 22: Overview operational KPIs

    APPENDIX OVERVIEW OPERATIONAL KPIS ( ) SevenOne Entertainment Group Red Arrow Studios NuCom Group 2020 2019 eV 2020 2019 YY 2620 2019 Y°V Total video viewtime? eect 28-01% RAS productions? 104125 -a7% © GOnsumer Avy 0.8m 0.9m 16% woe TW consumption an ain +2.1% fat hours produced” err 230 420% # af

  23. Slide 23: Disclaimer

    ProSiebenSat1 This presentation contains "forward-looking statements" regarding ProSiebenSat.1 Media SE ("ProSiebenSat.i") or ProSiebenSat. Group, including opinions, estimates and projections regarding ProSiebenSat.l's or ProSiebenSat.1 Group's financial position, business strategy, plans and objec

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