Alma Media Oyj · OMXHEX:ALMA
Alma Media Oyj — Q1 2009 Earnings Presentation
24 slides from Alma Media Oyj's earnings presentation, Apr 29, 2009
Slide 1: Alma Media Q1 2009 Review
Alma Media Q1 2009 Review April 29, 2009 Kai Telanne, President & CEO Tuomas Itkonen, CFO Alma Media Q1 2009 Review 29.4.2009 1
Slide 2: Presentation structure
Presentation structure Kai Telanne, President and CEO: • Highlights Q1 2009 • Markets • Segment Reviews Picture size 63 x 132mm 100dpi Tuomas Itkonen, CFO: • Financials • Outlook for 2009 Alma Media Q1 2009 Review 2
Slide 3: Highlights Q1 2009
Highlights Q1 2009 • Weak quarter due to exceptionally difficult market conditions. • Key financials Q1 2009 – Comparable net sales declined 9 % – Advertising sales fell 17 % Picture size 63 x 132mm • Kauppalehti’s and Marketplaces net sales took the worst hit. 100dpi • Online advertising net sales
Slide 4: Media Markets in Finland Q1 2009
Media Markets in Finland Q1 2009 Alma Media Q1 2009 Review 29.4.2009 4
Slide 5: Dramatic fall in advertising market continued
Dramatic fall in advertising market continued 40 % 30 % 20 % 10 % 0% -10 % -20 % -30 % Q1/08 Q2/08 Q3/08 Q4/08 1/09 2/09 3/09 Total advertising market change, % Newspaper advertising market change, % Online advertising market change, % Alma Media Q1 2009 Review 29.4.2009 5 Source: TNS Media Intellig
Slide 6: Advertising sales development
Advertising sales development Total market Nov 2008 – Feb 2009 Market value change, % Nov 2008 Dec 2008 Jan 2009 Feb 2009 Newspapers -11.6 -16.6 -22.8 -24.5 Magazines -12.2 -2.2 -13.7 -21.6 Television 2.7 -19.2 -11.1 -20.5 Radio 6.0 27.4 -2.1 2.6 Internet 16.3 3.0 1.0 -18.0 TOTAL -6.2 -13.0 -16.7 -2
Slide 7: Segment reviews Q1 2009
Segment reviews Q1 2009 Alma Media Q1 2009 Review 29.4.2009 7
Slide 8: Newspapers Q1 2009
Newspapers Q1 2009 • Net sales declined by 6 % to 53.9 (57.3) MEUR – Advertising sales fell to 24.4 MEUR, -14.1 % less than comparable period • Sales declined worst in Aamulehti and in Satakunnan Kansa • Good development in the online sales: as an example Picture size Iltalehti.fi advertising sales
Slide 9: Kauppalehti Group Q1 2009
Kauppalehti Group Q1 2009 • Net sales down 12.2 % to 16.2 (18.5) MEUR – Advertising sales of Kauppalehti Group declined by 25.6 % along with the market – Kauppalehti Group level circulation sales declined slightly mostly due to customer magazine sales decline Picture size – Net sales from online ser
Slide 10: Marketplaces Q1 2009
Marketplaces Q1 2009 • Net sales down 20.7 % to 7.2 (9.1) MEUR – Exceptionally weak market for job advertising in Finland and houses advertising in all operating countries – In the falling market Monster.fi, Etuovi.com and Picture size Autotalli.com have increased their market share 63 x 132mm – Mas
Slide 11: Financials Q1 2009
Financials Q1 2009 Alma Media Q1 2009 Review 29.4.2009 11
Slide 12: Key figures Q1 2009, MEUR
Key figures Q1 2009, MEUR Net sales, MEUR EBIT, MEUR 100 16 0.6 90 14 14.4 89.3 -9.0% 80 86.6 0.0 84.0 12 81.4 0.0 12.2 70 76.4 11.6 10 0.0 60 9.5 -35.2% 8 50 7.5 6 40 4 30 20 2 10 0 -1.0 0 -2 Q1 08 Q2 08 Q3 08 Q4 08 Q1 09 Q1 08 Q2 08 Q3 08 Q4 08 Q1 09 Onetime items Alma Media Q1 2009 Review 29.4.20
Slide 13: Net Sales Q1/2009, MEUR
Net Sales Q1/2009, MEUR Alma Media total Newspapers Kauppalehti-Group Marketplaces 76.4 MEUR 53.9 MEUR 16.2 MEUR 7.2 MEUR Aamulehti 36.5% (19.7m€) Etuovi.com 44.9% (3.2m€) Newspapers 69.0% (52.8m€) Kauppalehti 61.4% (10.2m€) monster 21.6% (1.6m€) KL-Group 21.2% (16.2m€) Iltalehti 25.0% (13.5m€) Lehd
Slide 14: Net Sales change Q1/2009 vs Q1/2008, MEUR
Net Sales change Q1/2009 vs Q1/2008, MEUR Alma Media total Newspapers Kauppalehti-Group Marketplaces -7.5 MEUR (-9.0 %) -3.5 MEUR (-6.0 %) -2.3 MEUR (-12.2 %) -1.9 MEUR (-20.7 %) 1.0 0.5 0.0 0.20 0.5 -0.2 0.0 0.00 0.0 -0.4 -0.5 -0.5 -0.20 -0.6 MEUR -1.0 MEUR MEUR MEUR -1.0 -0.8 -1.5 -0.40 -2.0 -1.5
Slide 15: Net sales change by type
Net sales change by type Circulation, MEUR Advertising, MEUR 1.0 6.0 4.0 0.8 2.0 +0.3% -17.0% 0.6 0.0 +1.3% 0.4 -2.0 +0.8% -4.0 0.2 -6.0 0.0 -8.0 Q1 08 Q2 08 Q3 08 Q4 08 Q1 09 Q1 08 Q2 08 Q3 08 Q4 08 Q1 09 Alma Media Q1 2009 Review 29.4.2009 15
Slide 16: EBIT by segment
EBIT by segment Newspapers, MEUR Kauppalehti Group, MEUR 14.0 3.5 12.0 3.0 +12.2 10.0 10.5 2.5 -8.8% 8.0 -26.2% 2.0 2.0 6.0 6.9 1.5 4.0 1.0 -67.0% 2.0 0.5 0.6 0.0 0.0 Q1 08 Q2 08 Q3 08 Q4 08 Q1 09 Q1 08 Q2 08 Q3 08 Q4 08 Q1 09 Alma Media Q1 2009 Review 29.4.2009 16
Slide 17: EBIT by segment
EBIT by segment Marketplaces, MEUR Other, MEUR 1.5 0.0 1.0 -0.5 -0.8 0.5 -181.3% -118.0% -1.0 0.0 -0.2 -1.5 -0.5 -1.0 -2.1 -2.0 -1.0 -1.5 -2.5 Q1 08 Q2 08 Q3 08 Q4 08 Q1 09 Q1 08 Q2 08 Q3 08 Q4 08 Q1 09 Alma Media Q1 2009 Review 29.4.2009 17
Slide 18: Cash flow from operating activities
Cash flow from operating activities 35.0 30.0 28.6 26.8 25.6 25.0 20.0 MEUR 15.0 10.0 5.0 0.0 Q3 06 Q4 06 Q1 07 Q2 07 Q3 07 Q4 07 Q1 08 Q2 08 Q3 08 Q4 08 Q1 09 Tax return +1,0 MEUR Tax return +3,8 MEUR Alma Media Q1 2009 Review 29.4.2009 18
Slide 19: Cash flow and investments
Cash flow and investments 30 0.5 26.8 25.6 24.8 23.9 0.0 25 -0.5 20 -1.0 -0.8 MEUR MEUR 15 -1.5 -2.0 10 -2.5 5 -3.0 -2.9 0 -3.5 Q1 08 Q1 09 Q1 08 Q1 09 from operating activities gross investments before financing activities proceeds from sales of assets Alma Media Q1 2009 Review 29.4.2009 19
Slide 20: Net debt, MEUR
Net debt, MEUR 30 25.8 23.9 25 19.8 20 15 12.9 10 5.8 3.8 MEUR 5 0 -5 -10 -15 -20 -25 Q3 06 Q4 06 Q1 07 Q2 07 Q3 07 Q4 07 Q1 08 Q2 08 Q3 08 Q4 08 Q1 09 Dividend Dividend Dividend 20.3.07 48.5 MEUR 27.3.08 67.2 MEUR 25.3.09 22.4 MEUR Alma Media Q1 2009 Review 29.4.2009 20
Slide 21: Key ratios in Q1 2009
One time items Key ratios in Q1 2009 Equity ratio, % Gearing, % ROE% ROI% 70 10 60 50 6.5 5.3 50.8 60 57.2 40.0 5 50 40 50 45.8 0 40 40 30 -5 30 25.6 20.6 30 20 -10 20 20 10 10 -15 10 0 -20 0 0 Q4 08 Q1 09 Q4 08 Q1 09 Q1 08 Q1 09 Q1 08 Q1 09 Alma Media Q1 2009 Review 29.4.2009 21 Q1 ROI% and ROE% ha
Slide 22: Outlook for 2009
Outlook for 2009 Alma Media Q1 2009 Review 29.4.2009 22
Slide 23: Outlook for 2009
Outlook for 2009 • Alma Media expects that the comparable net sales and operating profit will be lower than in 2008 due to the decline in media advertising. • In the second quarter, net sales and operating Picture size 63 x 132mm profit will drop significantly in comparison with 100dpi the level of
Slide 24: Thank You!
Thank You! Alma Media Q1 2009 Review 29.4.2009 24