Atresmedia Corporacion De Medios De Comunicacion Sa · BME:A3M
Atresmedia Corporacion De Medios De Comunicacion Sa — Atresmedia — Investor Presentation (February 2022)
26 slides from Atresmedia Corporacion De Medios De Comunicacion Sa's investor presentation, February 2022
Slide 1: Presentation to investors February 2022
“We believe in the power of reflection and emotion” ATRESMEDIA www.atresmediacorporacion.com Presentation to investors February 2022 Roadshow backto Presentation up_Mar 2013 investors_Jan 22 1
Slide 2: Atresmedia: Revenue breakdown
Atresmedia: Revenue breakdown Advertising as core business while progressing into diversification Revenues by origin Revenues by division Non ad revenues Others Radio NAR Content 8% 11% 2% 9% Digital NAR 2020 Ad revenues 2020 Net 6% Net Revenues Revenues € 866m € 866m 89% 75% TV NAR Source: Infoadex
Slide 3: Atresmedia: Market positioning
Atresmedia: Market positioning Largest national player in the Spanish ad market Gross advertising revenues 2020 € 4.9bn ≈ € 0.9bn 5% 8% 17% 2nd national player 9% ≈15% ~38% Search Others 45% ≈47% ≈16% € 4.9bn ~62% Display, Video & 4% Social Networks 41% International player 34% ≈22% Total Ad market
Slide 4: Advertising market in Spain
Advertising market in Spain Total Ad market: 9M21 recovers part of the 2020’s fall Gross Ad market Yoy growth -31% -23% -18% +17% +15% -9% +13% +12% +9% +7% -5.8% -6% -5% +1.1% -0.8% 2018 2019 2020 9M21 2018 2019 2020 9M21 2018 2019 2020 9M21 2018 2019 2020 9M21 Total Ad market -0.2% -18% +2.9% +15%
Slide 5: Spanish TV industry: Ad market
Spanish TV industry: Ad market Current TV Ad market is still far from average and peak levels Gross TV Ad market In € mill % yoy Gross TV Ad market 3,469 3,188 3,082 2,951 2,677 2,472 2,317 2,378 2,237 Average: 2,316 2,122 2,143 2,127 2,011 2,005 1,815 1,890 1,780 1,703 1,640 16% 10% 8% 9% 11% 6% 6%
Slide 6: Spanish TV industry: Ad market
Spanish TV industry: Ad market 9M21: Strong recovery in most of the categories Ad spending by sectors % FY20 vs 9M21 yoy 45% 34% 29% 24% 21% 9M21 9M21=+15% -6% 3% 0% -6% FY20 -1% -10% FY20=-18% -9% -17% -13% -17% -23% -34% -34% (Energy, Cleaning, Home, Beauty & Food Autos Telcos Retail Finance Healt
Slide 7: Advertising market in Spain
Advertising market in Spain Stable market shares by player Market share evolution by player Ad Share Pay TVs 4% 5% 5% 5% Other FTAs 6% 6% 6% 5% Forta 5% 5% 4% 4% 41% 41% 41% 41% 43% 43% 43% 43% 2017 2018 2019 2020 Source: Infoadex. Roadshow backto Presentation up_Mar 2013 investors_Jan 22 7
Slide 8: Atresmedia Television: TV group audiences
Atresmedia Television: TV group audiences Atresmedia TV: Stable audience share along the years Total Individuals (%) Commercial Target (%) 24h 24h & 25-59y Nº channels under operation 28.8 30.5 30.4 30.2 29.4 28.9 28.4 29.4 28.2 27.5 7 27.3 6 28.4 26.8 26.2 26.3 26.7 27.7 27.8 27.4 26.9 16.5 5 15.5
Slide 9: TV viewing
TV viewing Total TV viewing (3h 33’) back to pre-covid levels In hours 3h59’ 4h06’ 3h54’ 4h04’ 4h00’ 4h00’ 3h59’ 3h46’ 3h57’ 3h53’ 3h54’ 3h42’ 3h33’ 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Linear No Linear Guests Source: Kantar Media. Non linear TV viewing includes +7 days v
Slide 10: Atresmedia Digital
Atresmedia Digital One of the largest local players in the digital market ATRESMEDIA VOD & OWN PROPERTIES OTHER DIGITAL ASSETS Most visited sites Monthly Ranking Unique Users (Comscore. Dec 21 ) (Comscore. Dec 21) Sales 9M21 #6th ~28 mill 22% 31% Non Video Influencer Marketing Programmatic 3.2 mill
Slide 11: Content Production and Distribution
Content Production and Distribution A solid strategy in content leveraging our content production expertise FTA TV IN-HOUSE CONTENT EXPLOTATION Atresmedia’s Online Pay TV channels TOTAL CONTENT EXPLOTATION Direct sales to Broadcasters Roadshow backto Presentation up_Mar 2013 investors_Jan 22 11
Slide 12: Content Production & Distribution: Atresmedia International
Content Production & Distribution: Atresmedia International Up to 57 mill subscribers in our international channels In mill subscribers Europe USA 1% 12% 9% 36% 23% Mexico 2021 2021 57 mill 24% 57 mill Latam 63% 32% Roadshow backto Presentation up_Mar 2013 investors_Jan 22 12
Slide 13: Content Production & Distribution: Studios
Content Production & Distribution: Studios Studios: International Brand recognition & Know-how + expertise COMMISIONING JV 50:50 CO-PRODUCTION (Atresmedia + Movistar +) Multiplatform: OTT, Originals Broadcaster, International IP: No Sales,… Potential clients: Movistar +, Netflix, IP: Yes Amazon, HBO
Slide 14: Content Production & Distribution: Atresmedia Cinema
Content Production & Distribution: Atresmedia Cinema Cinema: One of the largest film producers in Spain >17 years of experience >170 films produced >€350 mill invested to date Roadshow backto Presentation up_Mar 2013 investors_Jan 22 14
Slide 15: Atresmedia Radio
Atresmedia Radio Radio: 3 mill. listeners/day #3 radio player in Spain 3.0 million listeners 18% market share # 3 talk radio # 3 music radio New music radio 1.9 mill listeners 1.0 mill listeners 120k listeners Source: EGM 3rd 2021 survey. Yearly average Market Share: Infoadex & internal estimates Ro
Slide 16: Atresmedia: Revenues & OPEX evolution
Atresmedia: Revenues & OPEX evolution 2021: Nice recovery expected from 2020 levels 1,039 1,021 1,052 1,042 In € euros 970 956 883 866 830 202 187 184 165 202 156 80 127 111 REVENUE EBITDA 850 855 855 755 800 805 819 750 756 OPEX 2013 2014 2015 2016 2017 2018 2019 2020* 2021 consensus *EBITDA profor
Slide 17: Our main business guidelines
Our main business guidelines Our strategy is based in three main business guidelines DIVERSIFICATION CONTENT MONETIZATION CONSOLIDATE AND EXPAND OUR CORE BUSINESS Roadshow backto Presentation up_Mar 2013 investors_Jan 22 17
Slide 18: Our main business guidelines
Our main business guidelines Confirming our financial targets Operating Cash Flow Total Net Debt Target 90% EBITDA € 150 mill € 117 mil (FY20) € 100 mill Dividend policy PAYOUT RATIO ≥80% Roadshow backto Presentation up_Mar 2013 investors_Jan 22 18
Slide 19: Back Up Slides
Back Up Slides Roadshow backto Presentation up_Mar 2013 investors_Jan 22 19
Slide 20: Atresmedia 9M Results: P&L
Atresmedia 9M 21 Results in € mill: P&L 9M 21 9M 20 YoY Net Revenues << 664.9 580.1 14.6% OPEX 544.6 <<<<<<<<<<<<<<<<<507.0 7.4% EBITDA 120.3 73.1 64.4% EBITDA Margin <<< 18.1% 12.6% EBIT 106.8 58.8 81.7% EBIT Margin 16.1% 10.1% Net profit 79.9 39.9 100.4% Net profit Margin 12.0% 6.9% Source: Atresm
Slide 21: Atresmedia Audiovisual 9M results: P&L
Atresmedia Audiovisual 9M 21 results in € mill: P&L 9M 21 9M 20 YoY Total Net Rev. 623.6 542.4 +15.0% OPEX 507.0 470.3 +7.8% EBITDA 116.6 72.1 +61.8% EBITDA Margin 18.7% 13.3% EBIT 105.1 59.7 +76.0% EBIT Margin 16.9% 11.0% Source: Atresmedia`s financial statements Roadshow backto Presentation up_Mar
Slide 22: Atresmedia Radio 9M Results: P&L
Atresmedia Radio 9M 21 Results in € mill: P&L 9M 21 9M 20 YoY Net Revenues 48.3 44.6 +8.3% OPEX 44.7 43.5 +2.6% EBITDA 3.6 1.0 +249.1% EBITDA Margin 7.5% 2.3% EBIT 1.7 -0.9 n/a EBIT Margin 3.5% n/a Source: Atresmedia’s financial statements Roadshow backto Presentation up_Mar 2013 investors_Jan 22 22
Slide 23: Atresmedia: Consolidated P&L
Atresmedia: Consolidated P&L 2020 Results in € mill: P&L 2020 2019 YoY Net Revenues << 866.3 1,039.4 -16.7% OPEX 792.0 855.5 -7.4% OPEX proforma* <<<<<<<<<<<<<<<<< 755.5 855.5 -11.7% EBITDA 74.3 183.9 -59.6% EBITDA Margin 8.6% 17.7% <<< -39.8% EBITDA proforma* 110.8 183.9 EBITDA proforma Margin 12.8
Slide 24: Atresmedia Audiovisual 2020 results: P&L
Atresmedia Audiovisual 2020 results in € mill: P&L 2020 2019 YoY Total Net Rev. 807.9 965.1 -16.3% OPEX 736.1 798.4 -7.8% OPEX proforma* 704.5 798.4 -11.8% EBITDA 71.9 166.7 -56.9% EBITDA Margin 8.9% 17.3% EBITDA proforma* 103.5 166.7 -37.9% EBITDA proforma Margin 12.8% 17.3% EBIT 55.5 150.0 -63.0%
Slide 25: Atresmedia Radio 2020 Results: P&L
Atresmedia Radio 2020 Results in € mill: P&L 2020 2019 YoY Net Revenues 67.0 83.1 -19.4% OPEX 64.6 65.9 -1.9% OPEX proforma* 59.7 65.9 -9.4% EBITDA 2.4 17.2 -86.1% EBITDA Margin 3.6% 20.7% EBITDA proforma* 7.3 17.2 -57.4% EBITDA proforma Margin 11.0% 20.7% EBIT -0.2 14.4 n/a EBIT Margin n/a 17.4% EB
Slide 26: Additional information Investor Relations Department Legal Notice
Additional information Investor Relations Department Phone: +34 91 623 46 14 E-mail: ir@atresmedia.com Web: www.atresmediacorporacion.com Legal Notice The information contained in this presentation has not been independently verified and is, in any case, subject to negotiation, changes and modificat