Grupo Clarin SA Class B · BCBA:GCLA
Grupo Clarin SA Class B — Q3 2018 Earnings Presentation
20 slides from Grupo Clarin SA Class B's earnings presentation, Nov 9, 2018
Slide 1: Nine Months and Third Quarter Results 2018
Nine Months and Third Quarter Results 2018 November 9, 2018
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 3Q Results - November 9, 2018
Slide 4: Macroeconomic Environment: Key Indicators
Macroeconomic Environment Key Indicators Consumer Price Index(1) Central Bank Reference Rate(*) % yoy % yoy 43,6 44,8 43,2 65,0 35,2 35,4 26,6 26,1 27,9 40,0 24,5 24,5 30,8 28,8 26,8 24,8 24,8 26,3 26,3 27,3 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17
Slide 5: Agenda
Agenda Argentina – Latest Events Income Statement & Financial Debt Business Segments Ownership Structure & Corporate Governance Q & A Session 3Q Results - November 9, 2018
Slide 6: Income Statement: 9M18 & 9M17 yoy figures
Income Statement 9M18 & 9M17 yoy figures Exhibit 1: Net Sales Exhibit 2: Adjusted EBITDA1 EBTIDA Margin (%) % yoy, AR$ MM % yoy, AR$ MM +11% 9.5 8.2 11,171 10,041 819 1,064 1,480 1,228 24 4,821 4,684 1,164 966 5,485 75 4,704 -98 -248 -575 -614 9M17 9M18 3Q Results - November 9, 2018 9M17 9M18 Broadc
Slide 7: Income Statement: 3Q18 & 3Q17 yoy figures
Income Statement 3Q18 & 3Q17 yoy figures Exhibit 4: Net Sales Exhibit 5: Adjusted EBITDA1 EBTIDA Margin (%) % yoy, AR$ MM % yoy, AR$ MM +9% 10.3 13.8 4,091 3,759 427 517 429 421 1,897 5 1,798 535 377 1,747 1,992 22 40 -39 -214 -224 3Q17 3Q18 3Q Results - November 9, 2018 3Q17 3Q18 Broadcasting & Pro
Slide 8: Income Statement: 3Q18 & 3Q17 yoy figures
Income Statement 3Q18 & 3Q17, yoy figures EBTIDA Margin (%) Exhibit 7: 3Q17 Exhibit 8: 3Q18 AR$ MM AR$ MM 4,091 3,759 9% 2,182 15% 2,520 3Q Results - November 9, 2018 1,060 9% 1,150 13.8 10.3 517 421 (19%) Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales Adm. Sales Adm. Ex
Slide 9: Financial Debt
Financial Debt Exhibit 9: Key Financial Ratios AR$ MM 35.9 MM at 41.25 ARS/ USD 9M18 9M17 YoY 6M18 QoQ Total Gross Debt Outstanding* 1,479.0 1,221.8 21.0% 1,192.5 24.0% Total Gross Debt Incl. Interests** 1,505.7 1,235.5 21.9% 1,206.4 24.8% Total Net Debt 205.7 285.0 (27.8%) 236.9 (13.2%) Net Debt/ A
Slide 10: Agenda
Agenda Argentina – Latest Events Income Statement & Financial Debt Business Segments Ownership Structure & Corporate Governance Q & A Session 3Q Results - November 9, 2018
Slide 11: Broadcasting & Programming
Broadcasting & Programming Revenues & Costs EBTIDA Margin (%) Exhibit 11: 3Q17 Exhibit 12: 3Q18 AR$ MM AR$ MM 1,798 6% 1,897 979 21% 1,183 19% 284 29.8 19.9 338 535 (30%) 377 Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales Adm. Sales Adm. Expenses Expenses 3Q Results - No
Slide 12: Broadcasting & Programming II: Key Ratios
Broadcasting & Programming II Key Ratios Exhibit 15: Key Ratios -21% -8% 42.5 40.0 37.0 33.4 3Q17 3Q18 3Q17 3Q18 Prime Time1 (%) Advertising Share2 (%) -11% 35.7 31.9 3Q Results - November 9, 2018 3Q17 3Q18 Total Time1 (%) (1) Share of broadcast TV audience according to IBOPE for AMBA. Prime time is
Slide 13: Printing & Publishing
Printing & Publishing Revenues & Costs EBTIDA Margin (%) Exhibit 16: 3Q17 Exhibit 17: 3Q18 AR$ MM AR$ MM 1,747 14% 1,992 992 17% 1,159 8% 733 793 2.0 1.2 85% 22 40 Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales Adm. Sales Adm. Expenses Expenses 3Q Results - November 9, 2
Slide 14: Printing & Publishing II: Key Ratios
Printing & Publishing II Key Ratios Exhibit 20: Key Ratios +7% +3% 218 233 53.8 55.5 3Q17 3Q18 3Q17 3Q18 Circulation1 (‘000s) -1% Advertising Share2 (%) 39.5 39.1 3Q Results - November 9, 2018 3Q17 3Q18 Circulation Share3 (%) (1) Average number of copies according to IVC (including Diario Clarín and
Slide 15: Digital Content & Others
Digital Content & Others Revenues & Costs EBTIDA Margin (%) Exhibit 21: 3Q17 Exhibit 22: 3Q18 AR$ MM AR$ MM (0.5%) 427 429 (8%) 267 289 (13%) 179 (9.2) 155 (4.6) 39 111% 5 Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales Adm. Sales Adm. Expenses Expenses 3Q Results - Novem
Slide 16: Agenda
Agenda Argentina – Latest Events Income Statement & Financial Debt Business Segments Ownership Structure & Corporate Governance Q & A Session 3Q Results - November 9, 2018
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 (47%) • Local (53%) 79,7% Total 106.776 MM Controlling Shareholders2 3Q Results - November 9, 2018
Slide 18: Agenda
Agenda Argentina – Latest Events Income Statement & Financial Debt Business Segments Ownership Structure & Corporate Governance Q & A Session 3Q Results - November 9, 2018
Slide 19: Q & A Session
Q & A Session November 9, 2018
Slide 20: Nine Months and Third Quarter Results
Nine Months and Third Quarter Results 2018 November 9, 2018