ProSiebenSat.1 Media SE · XETR:PSM
ProSiebenSat.1 Media — Q3 2003 Earnings Presentation
25 slides from ProSiebenSat.1 Media's earnings presentation, Nov 12, 2003
Slide 1: Overview of the business development of ProSiebenSat.1 Media AG as of September 30, 2003
Overview of the business development of ProSiebenSat.1 Media AG as of September 30, 2003 Urs Rohner, Chief Executive Officer Lothar Lanz, Chief Financial Officer, Member of the Board Munich, November 12, 2003
Slide 2: Agenda
Agenda 1. Recent developments of audience and advertising market in German TV 2. Financials for Q3 2003 3. Financials for Q1-Q3 2003 4. Outlook for 2003 2
Slide 3: Agenda
Agenda 1. Recent developments of audience and advertising market in German TV 2. Financials for Q3 2003 3. Financials for Q1-Q3 2003 4. Outlook for 2003 3
Slide 4: What have we achieved?
What have we achieved? 1. Audience share of ProSiebenSat.1 Group increased 2. Positive operating result in seasonally weakest quarter 3. Increasing revenues in Q3 for the first time since 2000 4. Sat.1 with positive EBITDA for the second consecutive quarter 5. Changing trend at ProSieben: For the fi
Slide 5: Economic development in Germany
Economic development in Germany Real gross domestic product in Germany Change to previous quarter and change to previous year in percent 3 0.2% 0.0% 1.7% 2 1 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 -1 actual forecast -2 2002 2003 2004 Source: Statistical Federal Authorities, Joint forecast of German E
Slide 6: Forecast: TV advertising market still declining in 2003
Forecast: TV advertising market still declining in 2003 Net TV advertising investments according to ZAW Changes to previous year in percent 10 5 9.1 6.3 6.8 2001 2002 2003* 0 1998 1999 2000 -5.0 -5.1 -5 to -7.0 -10 -11.5 -15 Source: ZAW, *ProSiebenSat.1 Media AG estimates 6
Slide 7: Q3 2003: ProSiebenSat.1 Group's channel performance improved by 4%
Q3 2003: ProSiebenSat.1 Group‘s channel performance improved by 4% Audience market share for ProSiebenSat.1 Group, age 14-49, Q3 2003 vs. Q3 2002 in percent 30 +4.0% 29 28 27 28.3 26 27.2 25 Q3 2002 Q3 2003 ProSiebenSat.1 Group: Sat.1, ProSieben, Kabel 1, N24/N24 publication since 1 Jan 2003 7 Sourc
Slide 8: Q1-Q3 2003: ProSiebenSat.1 Group's channel performance increased by almost 3%
Q1-Q3 2003: ProSiebenSat.1 Group‘s channel performance increased by almost 3% Audience market share for ProSiebenSat.1 Group, age 14-49, Q1-3 2003 vs. Q1-3 2002 in percent 30 +2.9% 29 28 27 28.7 27.9 26 25 Q1-3 2002 Q1-3 2003 ProSiebenSat.1 Group: Sat.1, ProSieben, Kabel 1, N24/N24 since 1 Jan 2003
Slide 9: Q1-Q3 2003: Audience market shares of TV channels compared with previous year's period
Q1-Q3 2003: Audience market shares of TV channels compared with previous year‘s period Audience market shares, age 14-49, Q1-3 2003 vs. Q1-3 2002 in percent 25 20 18.4 17.3 15 11.911.9 11.011.3 9.6 10 8.8 8.5 7.6 7.1 5.8 5.0 4.9 4.64,.9 5 2.1 2.3 1.0 1.1 0.6 0.7 0.6 0 L tv D x 4 F t.1 F L2 l1 RT TL
Slide 10: Channel performance of Sat.1 and ProSieben since Q3 2002
Channel performance of Sat.1 and ProSieben since Q3 2002 Audience market shares of Sat.1 and ProSieben, age 14-49, Q3 2002 until Q3 2003 in percent 13 12.7 12,5 12.3 12.2 12.2 12.1 12 11.7 11.6 11,5 11.3 11.2 11.2 11.1 11 10.7 10,5 Q3 Q4 Q1 Q2 Q3 Trend Q4* 2002 2003 Sat.1 ProSieben *1.10.2003-10.11.
Slide 11: Gross advertising market share of ProSiebenSat.1 channel family compared with RTL Group in 2003
Gross advertising market share of ProSiebenSat.1 channel family compared with RTL Group in 2003 Share of advertising in 2003 in percent 50 47.1 44.0-45.0 45.2 44.2 43.5 44.0 41.2 41.9 40 30 20 10 0 Q1 Q2 Q3 Q4* Q1 Q2 Q3 Q4* ProSiebenSat.1 channel family RTL-Group Source: Nielsen Media Research, *Pro
Slide 12: N24 head-to-head with n-tv despite lower technical reach
N24 head-to-head with n-tv despite lower technical reach Audience market shares, age 14-49, 2003 in months in percent 1,4 1.2 1,2 1.0 1 0.9 0.8 0,8 0.7 0.6 0.6 0.6 0.6 0,6 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.4 0.4 0,4 0,2 0 Jan 03 Feb 03 Mar 03 Apr 03 May 03 Jun 03 Jul 03 Aug 03 Sep 03 Oct 03 n-tv
Slide 13: TV advertising market share: closing the gap between N24 and n-tv
TV advertising market share: closing the gap between N24 and n-tv Gross TV advertising market share of N24 and n-tv , Jan 2001 to Sep 2003 in percent 1,5% 1,0% 0,5% 0,0% Jan Mar May Jul Sep Nov Jan Mar May Jul Sep Nov Jan Mar May Jul Sep 01 01 01 01 01 01 02 02 02 02 02 02 03 03 03 03 03 N24 n-tv So
Slide 14: Agenda
Agenda 1. Recent developments of audience and advertising market in German TV 2. Financials for Q3 2003 3. Financials for Q1-Q3 2003 4. Outlook for 2003 14
Slide 15: Group's P&L for Q3 2003
ProSiebenSat.1 Group‘s P&L for Q3 2003 Q3 2003 Q3 2002 Changes Euro million Euro million Euro million percent 1. Revenues 362.7 351.1 11.6 3.3 2. Other operating income 7.0 37.9 -30.9 -81.5 3. Total revenues 369.7 389.9 -19.3 -5.0 4. Programming and material costs 244.5 286.2 -41.7 -14.6 5. Personne
Slide 16: Group: EBITDA and EBIT swing into positive in Q3 2003
ProSiebenSat.1 Group: EBITDA and EBIT swing into positive in Q3 2003 EBITDA EBIT in mio Euro in mio Euro 20.0 20 20 11.2 10 10 +31.8 +35.3 0 0 -10 -10 -11.8 -20 -20 -24.1 -30 -30 Q3 2002 Q3 2003 Q3 2002 Q3 2003 16
Slide 17: Group: results by business areas for Q3 2003
ProSiebenSat.1 Group: results by business areas for Q3 2003 Q3 2003 Q3 2002 Changes Euro million Euro million Euro million percent Television External revenues 348.9 333.8 15.1 4.5 Total revenues 351.9 338.1 13.8 4.1 Operating result -3,6 -29,7 26,1 87,9 Merchandising External revenues 11.7 14.3 -2.
Slide 18: Group: results by channels for Q3 2003
ProSiebenSat.1 Group: results by channels for Q3 2003 Q3 2003 Q3 2002 Changes Euro million Euro million Euro million percent ProSieben Revenues 138.9 146.8 -7.9 -5.4 Pre-tax result 19.5 8.4 11.1 132.1 EBITDA 19.5 7.7 11.8 153.2 Sat.1 Revenues 149.9 139.4 10.5 7.5 Pre-tax result -3.0 -42.7 39.7 93.0
Slide 19: Agenda
Agenda 1. Recent developments of audience and advertising market in German TV 2. Financials for Q3 2003 3. Financials for Q1-Q3 2003 4. Outlook for 2003 19
Slide 20: Group's P&L for Q1-Q3 2003
ProSiebenSat.1 Group‘s P&L for Q1-Q3 2003 Q1-Q3 2003 Q1-Q3 2002 Changes Euro million Euro million Euro million percent 1. Revenues 1,240.8 1,336.4 -95.5 -7.1 2. Other operating income 28.9 77.3 -48.4 -62.6 3. Total revenues 1,269.7 1,413.7 -143.9 -10.2 4. Programming and material costs 875.5 992.2 -
Slide 21: Group: financial figures for Q1-Q3 2003
ProSiebenSat.1 Group: financial figures for Q1-Q3 2003 … … … 2003 Q1-Q3 … 2002 Q1-Q3 … Changes Euro million Euro million Euro million percent 1. Revenues 1,240.8 1,336.4 -95.6 -7.1 2. Pre-tax result -6.4 -28.3 21.9 77.5 3. Financial result -44.9 -38.6 -6.3 -16.2 4. EBITDA 78.1 73.4 4.7 6.4 5. EBIT 5
Slide 22: Group: results by business areas for Q1-Q3 2003
ProSiebenSat.1 Group: results by business areas for Q1-Q3 2003 Q1-Q3 2003 Q1-Q3 2002 Changes Euro million Euro million Euro million percent Television External revenues 1,199.3 1,281.7 -81.4 -6.4 Total revenues 1,210.4 1,291.2 -80.6 -6.3 Operating result 0.9 -14.7 15.6 ./. Merchandising External rev
Slide 23: Group: results by channels for Q1-Q3 2003
ProSiebenSat.1 Group: results by channels for Q1-Q3 2003 Q1-Q3 2003 Q1-Q3 2002 Changes Euro million Euro million Euro million percent ProSieben Revenues 480.2 559.3 -79.1 -14.1 Pre-tax result 82.0 135.9 -53.9 -39.7 EBITDA 80.3 133.0 -52.7 -39.6 Sat.1 Revenues 523.1 543.3 -20.2 -3.7 Pre-tax result -8
Slide 24: Agenda
Agenda 1. Recent developments of audience and advertising market in German TV 2. Financials for Q3 2003 3. Financials for Q1-Q3 2003 4. Outlook for 2003 24
Slide 25: Group: Outlook for 2003
ProSiebenSat.1 Group: Outlook for 2003 § Audience market shares of channel family with 14-49 year old viewers by year end 2003: 29.5% § Sat.1: break even already in 2003 § N24: significant improvement of performance and financial results § Group EBITDA forecast for 2003: triple-digit millions 25