Grupo Clarin SA Class B · BCBA:GCLA
Grupo Clarin SA Class B — Q1 2016 Earnings Presentation
27 slides from Grupo Clarin SA Class B's earnings presentation, May 12, 2016
Slide 1: First Quarter Results 2016
First Quarter Results 2016 May 12th, 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 Digital Content & Others 1Q Results - May 12th, 2016 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 4: Sales & EBITDA Growth
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV, Internet Access & Telephony Printing & Publishing Broadcasting & Programming Digital Content & Others 1Q Results - May 12th, 2016 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 5: Income Statement
Income Statement 1Q16 & 1Q15 yoy figures Exhibit 1: Net Sales Exhibit 2: Adjusted EBITDA1 EBTIDA Margin (%) % yoy, AR$ MM % yoy, AR$ MM +51% 8,986 2,845 31.7 +47% 712 274 73 32.4 1 1,214 5,970 1,936 556 185 9 41 5 899 2,778 7,068 1,881 4,559 -7 -230 -283 1Q Results - May 12th, 2016 1Q15 1Q16 1Q15 1Q
Slide 6: Income Statement
Income Statement 1Q16 & 1Q15, yoy figures EBTIDA Margin (%) Exhibit 4: 1Q15 Exhibit 5: 1Q16 AR$ MM AR$ MM 8,986 5,970 51% 3,841 2,596 48% 1,438 60% 2,300 31.7 32.4 1Q Results - May 12th, 2016 1,936 2,845 47% Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales Adm. Sales Adm.
Slide 7: Financial Debt
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV, Internet Access & Telephony Printing & Publishing Broadcasting & Programming Digital Content & Others 1Q Results - May 12th, 2016 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 8: Financial Debt
Financial Debt Exhibit 6: Key Financial Ratios AR$ MM 517.4 MM at 14.7 ARS/ USD 3M16 FY15 3M15 QoQ YoY Total Gross Debt Outstanding* 7,605.7 6,741.7 5,200.0 12.8% 46.3% Total Gross Debt Incl. Interests** 7,720.2 6,937.7 5,276.9 11.3% 46.3% Total Net Debt 3,449.6 4,264.1 2,289.0 (19.1%) 50.7% Net Deb
Slide 9: Cable TV, Internet Access & Telephony
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV, Internet Access & Telephony Printing & Publishing Broadcasting & Programming Digital Content & Others 1Q Results - May 12th, 2016 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 10: Cable TV, Internet Access & Telephony I
Cable TV, Internet Access & Telephony I Revenues & Costs EBTIDA Margin (%) Exhibit 8: 1Q15 Exhibit 9: 1Q16(*) AR$ MM AR$ MM 4,559 55% 7,068 1,689 55% 2,613 70% 989 1,678 41.3 39.3 1,881 2,778 48% 1Q Results - May 12th, 2016 Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales
Slide 11: Cable TV, Internet Access & Telephony II
Cable TV, Internet Access & Telephony II Key Ratios Exhibit 10: Cable & Internet Access Statistics ‘000s 1Q16 1Q15 % Ch. 4Q15 QoQ Homes Passed 7,812.9 7,518.2 3.9% 7,795.4 0.2% Bidirectional Homes Passed 73.1% 69.1% 5.7% 72.1% 1.3% Total CATV Subscribers 3,506.6 3,475.5 0.9% 3,532.6 (0.7%) Churn Rat
Slide 12: Cable TV, Internet Access & Telephony III
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% 1% 1% 3.785 3.871 3.476 3.507 3.605 3.638 +86 +31 +33 1Q15 1Q16 1Q15 1Q16 1Q15 1Q16 FY and 4Q Results 20
Slide 13: Printing & Publishing
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV, Internet Access & Telephony Printing & Publishing Broadcasting & Programming Digital Content & Others 1Q Results - May 12th, 2016 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 14: Printing & Publishing I
Printing & Publishing I Revenues & Costs EBTIDA Margin (%) Exhibit 18: 1Q15 Exhibit 19: 1Q16 AR$ MM AR$ MM 899 35% 1,214 40% 529 739 34% 1Q Results - May 12th, 2016 360 482 1.0 (0.6) 9 (182%) 7 Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales Adm. Sales Adm. Expenses Expen
Slide 15: Printing & Publishing II
Printing & Publishing II Key Ratios Exhibit 20: Key Ratios -9% +6% 272 52.2 55.0 247 1Q15 1Q16 1Q15 1Q16 Circulation1 (‘000s) +4% Advertising Share2 (%) 39.1 40.6 1Q Results - May 12th, 2016 1Q15 1Q16 Circulation Share3 (%) (1) Average number of copies according to IVC (including Diario Clarín and O
Slide 16: Broadcasting & Programming
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV, Internet Access & Telephony Printing & Publishing Broadcasting & Programming Digital Content & Others 1Q Results - May 12th, 2016 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 17: Broadcasting & Programming I
Broadcasting & Programming I Revenues & Costs EBTIDA Margin (%) Exhibit 21: 1Q15 Exhibit 22: 1Q16 AR$ MM AR$ MM 556 28% 712 381 469 23% 1Q Results - May 12th, 2016 27% 170 134 10.2 7.4 41 77% 73 Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales Adm. Sales Adm. Expenses Expe
Slide 18: Broadcasting & Programming II
Broadcasting & Programming II Key Ratios Exhibit 23: Key Ratios -7% +2% 34.6 32.3 36.3 37.2 1Q15 1Q16 1Q15 1Q16 Prime Time1 (%) Advertising Share2 (%) +3% 28.3 29.1 1Q Results - May 12th, 2016 1Q15 1Q16 Total Time1 (%) (1) Share of broadcast TV audience according to IBOPE for AMBA. Prime time is def
Slide 19: Digital Content & Others
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV, Internet Access & Telephony Printing & Publishing Broadcasting & Programming Digital Content & Others 1Q Results - May 12th, 2016 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 20: Digital Content & Others
Digital Content & Others Revenues & Costs EBTIDA Margin (%) Exhibit 24: 1Q15 Exhibit 25: 1Q16 AR$ MM AR$ MM 48% 274 185 66% 89 148 36% 91 1Q Results - May 12th, 2016 125 2.4 0.5 5 (71%) 1 Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales Adm. Sales Adm. Expenses Expenses 20
Slide 21: Capex & Net Sales
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV, Internet Access & Telephony Printing & Publishing Broadcasting & Programming Digital Content & Others 1Q Results - May 12th, 2016 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 22: Capex & Net Sales
Capex & Net Sales 1Q15 & 1Q16, YoY figures Exhibit 26: Capex & Net Sales 5,970 8,986 185 274 556 712 1,214 1Q16 CAPEX Breakdown 899 1.0% 2.3% 0.4% 4,559 7,068 18.7% 10.6% 1 7 1,685 634 13 39 10 17 96.3% 611 1,622 -230 -283 1Q Results - May 12th, 2016 1Q15 1Q15 1Q16 1Q16 Net Sales Capex Net Sales Cap
Slide 23: Ownership Structure & Corporate Governance
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV, Internet Access & Telephony Printing & Publishing Broadcasting & Programming Digital Content & Others 1Q Results - May 12th, 2016 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 24: Ownership Structure & Corporate Governance
Ownership Structure & Corporate Governance Exhibit 27: Equity Participation at IPO1 Exhibit 28: 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% LLC (RB)3 Free Float 58,231,488 70,9% • International 27,544,
Slide 25: Q & A Session
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV, Internet Access & Telephony Printing & Publishing Broadcasting & Programming Digital Content & Others 1Q Results - May 12th, 2016 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 26: Q & A Session
Q & A Session May 12th, 2016
Slide 27: First Quarter Results 2016
First Quarter Results 2016 May 12th, 2016