Grupo Clarin SA Class B · BCBA:GCLA
Grupo Clarin SA Class B — Q3 2019 Earnings Presentation
20 slides from Grupo Clarin SA Class B's earnings presentation, Nov 15, 2019
Slide 1: Third Quarter Results 2019
Third Quarter Results 2019 November 15th, 2019
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 Income Statement & Financial Debt Business Segments Ownership Structure & Corporate Governance Q & A Session 3Q19 Results - November 15th, 2019
Slide 4: Macroeconomic Environment: Key Indicators
Macroeconomic Environment Key Indicators Consumer Price Index(1) Central Bank Reference Rate(2) % yoy % yoy 56.2 54.1 78.4 51.8 68.2 47.3 65.0 62.7 59.3 35.4 27.1 40.0 22.7 23.3 25.3 26.3 28.8 27.3 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 S
Slide 5: Agenda
Agenda Argentina – Latest Events Income Statement & Financial Debt Business Segments Ownership Structure & Corporate Governance Q & A Session 3Q19 Results - November 15th, 2019
Slide 6: Income Statement 9M19 & 9M18
Income Statement 9M19 & 9M18 yoy figures Exhibit 1: Net Sales Exhibit 2: Adjusted EBITDA1 EBTIDA Margin (%) % yoy, AR$ MM % yoy, AR$ MM -13% 8.7 19,861 8.6 +34% 17,322 -13% 14,977 1,717 2,345 8.6 1,680 8,690 +21% 1,494 1,292 11,171 9.5 653 202 1,480 6,705 1,064 24 4,821 14,977 11,171 1,292 1,310 1,0
Slide 7: Income Statement 3Q19 & 3Q18
Income Statement 3Q19 & 3Q18 yoy figures Exhibit 4: Net Sales Exhibit 5: Adjusted EBITDA1 EBTIDA Margin (%) % yoy, AR$ MM % yoy, AR$ MM -8% 9.1 6,547 10.7 10.4 6,024 +8% +39% 5,696 328 +41% 644 2,456 595 50 564 10.3 594 4,091 173 427 2,600 421 1,897 5,696 5 494 594 4,091 421 2,850 377 1,992 -224 -31
Slide 8: Income Statement 3Q19 & 3Q18
Income Statement 3Q19 & 3Q18, yoy figures EBTIDA Margin (%) Exhibit 7: 3Q18 Exhibit 8: 3Q19 AR$ MM AR$ MM 6,024 6,547 (8%) (12%) 3,642 4,128 3Q19 Results - November 15th, 2019 (5%) 1,738 1,824 9.1 10.7 595 8 644 Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales Adm. Sales A
Slide 9: Financial Debt
Financial Debt Exhibit 9: Key Financial Ratios AR$ MM 32.6 MM at 57.6 ARS/ USD 9M19 9M18 YoY Total Gross Debt Outstanding* 1,879.0 1,479.0 (21.3%) Total Gross Debt Incl. Interests** 1,902.0 1,505.7 (20.8%) Total Net Debt (394.7) 205.7 (152.1%) Net Debt/ Adjusted EBITDA1 -.15x .12x (179.7%) % US$ Deb
Slide 10: Agenda
Agenda Argentina – Latest Events Income Statement & Financial Debt Business Segments Ownership Structure & Corporate Governance Q & A Session 3Q19 Results - November 15th, 2019
Slide 11: Broadcasting & Programming: Revenues & Costs
Broadcasting & Programming Revenues & Costs EBTIDA Margin (%) Exhibit 11: 3Q18 Exhibit 12: 3Q19 AR$ MM AR$ MM 3,028 (9%) 2,758 (7%) 1,936 1,792 3Q19 Results - November 15th, 2019 (16%) 18.5 18.9 530 445 561 521 (7%) Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales Adm. Sal
Slide 12: Broadcasting & Programming II: Key Ratios
Broadcasting & Programming II Key Ratios Exhibit 13: Key Ratios +16% +5% 38.6 37.0 38.8 33.4 3Q18 3Q19 3Q18 3Q19 Prime Time1 (%) Advertising Share2 (%) +3% 31.9 32.7 3Q19 Results - November 15th, 2019 3Q18 3Q19 Total Time1 (%) (1) Share of broadcast TV audience according to IBOPE for AMBA. Prime tim
Slide 13: Printing & Publishing: Revenues & Costs
Printing & Publishing Revenues & Costs EBTIDA Margin (%) Exhibit 14: 3Q18 Exhibit 15: 3Q19 AR$ MM AR$ MM 3,203 (6%) 3,017 1,544 1,914 (19%) 3Q19 Results - November 15th, 2019 4% 1,304 1,259 0.9 5.6 30 169 Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales Adm. Sales Adm. Exp
Slide 14: Printing & Publishing II: Key Ratios
Printing & Publishing II Key Ratios Exhibit 16: Key Ratios +2% -4% 233 237 55.5 53.2 3Q18 3Q19 3Q18 3Q19 Circulation1 (‘000s) +5% Advertising Share2 (%) 39.0 40.9 3Q19 Results - November 15th, 2019 3Q18 3Q19 Circulation Share3 (%) (1) Average number of copies according to IVC (including Diario Clarí
Slide 15: Digital Content & Others: Revenues & Costs
Digital Content & Others Revenues & Costs EBTIDA Margin (%) Exhibit 17: 3Q18 Exhibit 18: 3Q19 AR$ MM AR$ MM (13%) 584 668 417 3% 428 3Q19 Results - November 15th, 2019 247 (18%) 203 (7.8) 0.6 46 4 Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales Adm. Sales Adm. Expenses Ex
Slide 16: Agenda
Agenda Argentina – Latest Events Income Statement & Financial Debt Business Segments Ownership Structure & Corporate Governance Q & A Session 3Q19 Results - November 15th, 2019
Slide 17: Ownership Structure & Corporate Governance
Ownership Structure & Corporate Governance Equity Participation at IPO1 Shareholder Structure3 % Number of Shares4 Free Float Controlling Shareholders2 85.1 MM 20,3% Free Float 21.6 MM • International (44%) • Local (56%) 79,7% Total 106.776 MM Controlling Shareholders2 3Q19 Results - November 15th,
Slide 18: Agenda
Agenda Argentina – Latest Events Income Statement & Financial Debt Business Segments Ownership Structure & Corporate Governance Q & A Session 3Q19 Results - November 15th, 2019
Slide 19: Q & A Session
Q & A Session November 15th, 2019
Slide 20: Third Quarter Results
Third Quarter Results 2019 November 15th, 2019