Vocento, S.a. · BME:VOC
Vocento — FY2006 Earnings Presentation
14 slides from Vocento's earnings presentation, Mar 1, 2007
Slide 1: Annual Results January - December 2006
Annual Results January - December 2006 1 March 2007
Slide 2: 2006 Key Highlights
2006 Key Highlights 1. f Revenues €872.5m, +9.8%: attractive growth from advertising (+10.7% and +14.4% in 4Q06), Regional Press, and the incorporation of new businesses f EBITDA €106.5m (-2.4% y +5.4% in 4Q06): good performance from Regional Press, and 2. despite the investment effort being made to
Slide 3: Consolidated Profit and Loss Account 2006
Consolidated Profit and Loss Account 2006 f Revenues +9.8%, supported by all business lines: (€ m) IFRS 2006 2005 % Var Improvement in advertising revenues in 06 +10.7% and +14.4% Circulation revenues 268.4 268.3 0.0% in 4Q06 Advertising revenues 392.8 354.9 10.7% Excellent performance of Region
Slide 4: Consolidated Balance Sheet December 2006
Consolidated Balance Sheet 31 December 2006 (€ m) IFRS IFRS 2006 2005 2006 2005 Non current assets 677.8 471.7 Equity 608.2 607.5 Intangible assets 248.7 70.7 Property, plant and equipment 217.9 197.3 Total liabilities 444.1 349.1 Investments accounted using equity meth 111.8 138.0 Gross Debt 54.3 5
Slide 5: Vocento Main Financial Data
Vocento Main Financial Data Revenues EBITDA (€ m) (€ m) +9.8% 872.5 794.5 109.2 218.1 (2.4%) 106.5 188.2 42.7 12.3 25.2 9.7 98.3 5.2 64.8 3.9 635.0 125.0 135.3 599.8 (83.6) (11.4) (26.6) (121.6) (18.0) (19.6) 2005 2006 Print Media Audiovisual Internet 2005 2006 Other Businesses Corporate & Other Pri
Slide 6: Print Media
Print Media Revenues Highlights (€ m) 635.0 599.8 +5.9% 84.0 77.4 192.3 f Revenues +5.9% to €635.0m and EBITDA 203.2 +8.2% to €135.3m in a very competitive environment 344.1 388.5 f Growth driven by Regional Press (revenues +12.9% in 2006 and +15.9% in 4Q06): (24.8) (29.8) 2005 2006 Advertising re
Slide 7: Audiovisual
Audiovisual Revenues Highlights (€ m) 98.3 .7 % +5 1 64.8 f Revenues +51.7% to €98.3m (€64.8m in 2005) 71.1 f Growth driven by: 36.6 Incorporation of BocaBoca (September 2005) and 18.9 18.3 TriPictures (June 2006) 0.3 11.0 13.8 Improvement in audience share of local television (1.7) (5.1) statio
Slide 8: Internet
Internet Revenues Highlights 42.7 (€ m) % +6 9.3 f Revenues +69.3% to €42.7m driven by: 25.6 25.2 Good performance and rising contribution of Digital Editions (revenues +31.5% and +32.8% in 4Q06) 17.6 7.3 Incorporation of the Classifieds business (revenues 2.6 +€7.3m) 2.0 6.4 8.4 Other revenue
Slide 9: Other Businesses
Other Businesses Revenues Highlights 218.1 (€ m) 188.2 +15.9% 14.3 11.1 179.2 155.3 f Revenues +15.9% to €218.1m (incorporation of a distribution company in 22.9 25.8 the perimeter of the area) (1.2) (1.2) 2005 2006 Printing Distribution Other Eliminat. f EBITDA increases to €12.3m (+26.4%) EBITDA
Slide 10: Segregation of the printing centres
Segregation of the printing centres Main Reasons BEPSA (100%) 2004 X First step for the externalization of SVP (100%) “non core” activities Printolid (100%) 2004 X Improve profitability by print volumes 2S08 and optimization of “windows” X Extract synergies from the sector (publishing partners) Loca
Slide 11: Estimated figures for the segregation plan
Estimated figures for the segregation plan Capex (1) Aims (€ m) 39.7 30.9 X Increase in revenues from third parties, both in absolute terms and as % of total 12.5 of sales (target: 35% of sales) X Increased revenues in the 2006e 2007e 2008e newspapers, because of a rise in colour pages and inserts D
Slide 12: The Value in Vocento
The Value in Vocento… Sales 2006: €872.5 m EBITDA 2006(1): €106.5 m Our Core Strengths Our Opportunities 2006 2006 EBITDA €m EBITDA €m Regional Press 110.6 National TV (9.0) The Local TV (16.9) Supplements & Magazines 14.0 Businesses The Contents 7.0 assets 12.3 Printing & Distribution Radio (7.6) I
Slide 13: Disclaimer
Disclaimer This document contains statements that constitute forward looking statements in its general meaning and within the meaning of the Private Securities Litigation Reform Act of 1995. These statements appear in a number of places in this document and include statements regarding future growth
Slide 14: Vocento
vocento VOCeENTO