Agora Sa · GPW:AGO
Agora Sa — Q4 2010 Earnings Presentation
18 slides from Agora Sa's earnings presentation, March 2011
Slide 1: Agora SA Investor presentation
Agora SA Investor presentation February/March 2011
Slide 2: Improvement in the advertising market
Improvement in the advertising market Quarterly ad spend performance Quarterly performance of ad market segments 48% yoy % change 10% yoy % change +7.5% Internet +6.5% 40% 32% Television¹ +4.5% 24% Magazines 0% 16% Radio 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 8% Outdoor -0.5% 0% Dailies -8% -10% Ci
Slide 3: Agora Group improves results
Agora Group improves results PLN million 4Q 2010 yoy change 2010 yoy change Growth of revenues caused by consolidation Revenues, incl.: 340.7 17.0% 1 116.7 0.6% of revenues of Helios group and improvement in the advertising market. - advertising 202.9 2.1% 715.7 (2.5%) Growth resulting from growing
Slide 4: Changes in the Group's cash flow
Changes in the Group’s cash flow As of 31/12/2009 As of 31/12/2010 PLN million 350 change 300 Agora Group short-term excl. Helios 126.9 million securities group 156,8 156.8 250 154.8 million million 94.8 million short-term 104.9 million securities 200 154.5 million Net result of other cash inflows A
Slide 5: Segment performance: Newspapers
Segment performance: Newspapers (Gazeta, Metro, Special Projects, Printing Division) Financial performance¹ The decrease of revenues results PLN million 4Q 2010 yoy change 2010 yoy change mainly from the limitation of advertising spending in categories: telecommunication, automotive, Revenues, incl.
Slide 6: Stable position of Gazeta in dailies segment
Stable position of Gazeta in dailies segment Copy sales of dailies¹ Revenues vs copy sales of Gazeta 600 400 160 PLN million thou. copies z2.9% thou. copies yoy % change z6.1% z9.4% 300 120 450 429 K Copy sales 200 80 329 K 300 Revenues from 100 z2.1% 40 copy sales 179 K 150 139 K 0 0 92.5 K 4Q09 4Q
Slide 7: New undertakings in Newspapers' segment
New undertakings in Newspapers’ segment Wysokie Obcasy Extra (High Heels Extra) Wysokie Obcasy Extra on the iPad Mobile applications Wyborcza.pl the most popular press title in Internet 4 million real users methodology change Wy borcza.pl se.pl 3 pcf ormat.pl Fakt 2 Chip.pl rp.pl 1 GazetaPrawna.pl d
Slide 8: Metro improves operating results
Metro improves operating results Display ad revenue dynamics in dailies vs Metro Operating EBITDA¹ 4.0 million 5% yoy % change 4 PLN million 3 0% 4Q10 2010 2.0 million 2 -5% 1.1 million 1 -6.5% -7.5% -7.5% -10% 0 -10.5% 4Q09 4Q10 2009 2010 -15% -1 -0.2 million dailies Metro % change in revenues from
Slide 9: Growth of revenues of Special Projects in 4Q10
Growth of revenues of Special Projects in 4q10 Revenues EBIT¹ 13.7 million 90 14 PLN million PLN million yoy % change z26.7% 60 7 30 y35.5% 1.5 million 0.8 million 0.3 million 0 0 4Q09 4Q10 2009 2010 4Q09 4Q10 2009 2010 Statistics Publishing hits 4Q 2010 2010 Series 7 15 One-offs 30 59 Total: 37 74
Slide 10: Dynamic growth of ad revenues in Internet segment
Dynamic growth of ad revenues in Internet segment Financial results¹ Dynamics of ad expenditure in Internet in 2010 40% yoy % change PLN million 4Q10 4Q09 yoy change 2010 2009 yoy change 34% Revenues, incl.: 31.3 26.4 18.6% 101.8 84.9 19.9% - display ads 22.7 18.7 21.4% 69.9 52.0 34.4% - incl. Trade
Slide 11: Outdoor segment improves operating results
Outdoor segment improves operating results Financial results AMS ad market share² yoy yoy yoy pp change PLN million 4Q10 4Q09 2010 2009 AMS change change Advertising revenues in the segment grew for the first time 26.5% Revenues, incl.: 48.3 45.8 5.5% 164.1 168.0 (2.3%) in 2010. z0.2pp - advertising
Slide 12: Stable position of magazines
Stable position of magazines Financial results Ad spend structure in monthlies PLN million 4Q 2010 yoy change 2010 yoy change Decrease resulting from Media Point Group Gruner+Jahr yoy pp change 8.2% yoy drop in volume 3.6% 13.5% Revenues, incl.: 20.6 (7.6%) 83.6 (9.4%) of magazines sold. 1.3pp 1.7p
Slide 13: Radio segment improves operating results
Radio segment improves operating results Financial performance¹ Radio ad market structure Time yoy yoy Group PLN million 4Q10 4Q09 2010 2009 yoy % and pp change change change 18.5% RMF 0.5pp Revenues, incl.: 25.0 20.9 19.6% 77.6 75.1 3.3% Result of increased Group - ad revenues 24.1 20.3 18.7% 75.8
Slide 14: Difficult quarter for cinemas in Poland
Difficult quarter for cinemas in Poland Number of cinema tickets sold² Financial performance Sept.-Dec. In Poland in cinemas of Helios group PLN million 4Q 2010 2010 40 -4.4% 40 million tickets Revenues, incl.: 46.1 56.0 - tickets 33.2 40.1 yoy % change yoy % change - food & beverages 10.0 12.1 - ad
Slide 15: Prospects for 2011
Prospects for 2011 GDP Investments yoy % change 10% 10% 8.6% yoy % change 5% 1.5% -1.0% -1.7% 0.8% 0.4% 5% 4.2% 4.4% -1.7% 0% 3.5% 3.5% 3.2% 3.0% 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 2011F 1.7% -5% 1.0% -3.6% 0.5% 0% -10% 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 2011F -12.8% -15% Consumption Unemp
Slide 16: Estimates of advertising market growth in 2011
Estimates of advertising market growth in 2011 Advertising expenditure in Poland Performance of selected segments of advertising market 23% 9 000 25% yoy % change PLN million yoy % change 6-7% 4.5% 20% 13% 13-15% 11-13% 15% 6 000 10% 6-8% 8% 7% 5-6% 3-5% 3.5% 5% 0-2% 0% 3 000 T elevision Internet M
Slide 17: The Group's main objectives in 2011
The Group’s main objectives in 2011 Exploitation of possibilities offered by the Internet to develop new forms and scope of activities in the so – called traditional media segments; Cost control enabling further development of existing businesses and launching new projects; Using internal synergies
Slide 18: Disclaimer
This presentation has been prepared by Agora SA (the "Company"). The data and information contained on the individual slides do not show a complete or coherent financial analysis, nor present the commercial offer of the Company and serve for information purposes only. A detailed description of the b