Slide 1: 2009 Annual Results
C™ CALTAGIRONE EDITORE 2009 Annual Results May 2010
Slide 2: Disclaimer
Disclaimer This document has been prepared by Caltagirone Editore S.p.A. for information purposes only and it is not intended as an offer or solicitation of an offer to purchase or sell any financial instrument. This presentation is being distributed to professional investors only and may not be rep
Slide 3: Agenda
Agenda The Group The first 15 Italian newspapers Regional leadership Leadership in the Centre and North East of Italy Free Press Free Press: leadership in the domestic market Restructuring Financial highlights 2009 financial highlights Revenues breakdown Net financial position
Slide 4: The Group: traditional newspapers and free press
The Group: traditional newspapers and free press Traditional newspapers (1) Free Press Advertising • National with 13 local editions • Circulation 202.257 • Readership 1.313.000 • National with 8 local editions 2.328.000 daily readers (2) Advertidtising agency for • Circulation 75.971 National
Slide 5: The Group: N.2 in the domestic market
The Group: N.2 in the domestic market Caltagirone Editore is the 2nd Italian publishing group with 26.43% share of average daily readers (1) Data in thousands Avg. daily readers 6,219 Avg. daily readers 5,598 Avg. daily readers 4,892 29,36% Avg. daily readers 26,43% 2,372 23,10% 11,20% Gruppo Editor
Slide 6: The first 15 Italian newspapers
The first 15 Italian newspapers (1) CED is the 2nd Italian Group by readers, with 4 titles among the first 15 La Repubblica 3069 Il Corriere della Sera 2906 Leggo 2328 City 1986 Metro 1934 La Stampa 1449 Il Messaggero 1313 Il Resto del Carlino 1179 Epolis 993 La Nazione 862 Il Mattino 719 Il Gazzett
Slide 7: CED has a strong local leadership
CED has a strong local leadership (1) READERSHIP IN VENETO Regions in which CED is leader 38.9% Considerable presence (> 10%) Leggo’s presence (> 4%) (2) Caltagirone Editore 38,9% Combined with local newspapers (3) Gr. Espresso-Repubblica 36,1% Athesis 30,6% Rcs 14,3% READERSHIP IN LAZIO 0,0% 5,0% 1
Slide 8: Leadership in the Centre and North East of Italy
Leadership in the Centre and North East of Italy Group newspapers have an absolute leadership in the central-southern regions and in the North East of Italy (1) READERSHIP IN THE MACROREGION (2) READERSHIP IN VENETO 60.7% 38.9% (3) Caltagirone 60,7% Caltagirone Editore 38,9% Editore Gr. Espresso-Rep
Slide 9: Free Press: Leggo is the 1st free newspaper in Italy
Free Press: Leggo is the 1st free newspaper in Italy with 2,328,000 avg daily readers in 9 regions (1) LOMBARDIA 683,000 avg. daily readers VENETO Como Bergamo 223,000 avg. daily readers PIEMONTE Varese Verona 287,000 avg. daily readers Torino Venezia / Mestre Brescia Milano Padova EMILIA ROMAGNA 10
Slide 10: N.1 in the domestic market
N.1 in the domestic market Leggo is leader in the free press market with 37.3% share, 17% of avg. daily readers more than City and 20% more than Metro (1) Avg. daily readers 2,328,000 1,934,000 1,986,000 Metro City Leggo (1) Source: Audipress 2008/I 10
Slide 11: Restructuring
Restructuring • The media sector has been particularly influenced by the worldwide cyclical downturn. To address this situation the Company has started a series of actions which include: € 22m of structural costs reduction compared to 2008, of which: • € 14m of personnel costs • € 8m of other oper
Slide 12: Restructuring: costs trend
Restructuring: costs trend € Million 300 273.2 263.1 250.8 250 121,1 114,7 200 106,6 Other operating costs 150 1,5 1,0 8,6 Extraordinary personnel costs 100 Personnel costs 111,5 110,4 103,1 Raw material 50 39,1 37,1 32,4 0 2007 2008 2009 • Headcount reduction of around 12% compared to 2007 • Trade
Slide 13: Financial highlights
Financial highlights 13
Slide 14: 2009 Financial highlights
2009 Financial highlights Euro thousands 2009 2008 ∆% Circulation revenues 82,952 86,852 -4.5% Operating revenues declined due to a 3,628 6,463 -43.9% reduction of circulation revenues and a Promotions revenues considerable decline of promotions, a Advertising revenues 160,654 193,585 -17.0% commo
Slide 15: Revenues breakdown
Revenues breakdown Circulation revenues (Euro thousands) 2009 2008 ∆% Circulation 82,952 86,852 -4.5% Promotions 3,628 6,463 -43.9% Total 86,580 93,315 -7.2% Advertising revenues (Euro thousands) 2009 2008 ∆% • Il Messaggero 73,147 89,266 -18.1% • Il Mattino 27,082 33,182 -18.4% • Il Gazzettino 24,1
Slide 16: Revenues breakdown
Revenues breakdown Advertising is the main revenue and profitability driver Circulation Promotions Advertising Services Other 9 6 4 7 9 8 9 0 4 6 10 4 4 € millions 4 5 3 0 4 2 211 3 2 192 0 194 175 178 161 165 164 136 152 153 20 11 6 16 4 11 15 78 92 87 83 71 69 68 67 67 68 69 1999 2000 2001 2002 20
Slide 17: Net Financial Position
Net Financial Position Net Financial Position on December 31st, 2009 € millions 31.12.08 € 6.3 Dividend € 23.4 distributed 31.12.09 Net investiments € 9.1 € 2.5 in financial stakes Other Operating changes Cash Flow € 262.6 € 226.3 17
Slide 18: Appendix
Appendix 18
Slide 19: Main shareholders
Main shareholders FREE FLOAT 34,6% FRANCESCO GAETANO GAETANO CALTAGIRONE (1) 60,8% CALTAGIRONE 2,4% EDIZIONE SRL 2,24% N° of ordinary shares: 125,000,000 Market capitalization: € 262 millions (2) (1) Directly and indirectly through controlled companies (2) As of April 29, 2010 19
Slide 20: Caltagirone Spa
Caltagirone Spa Caltagirone Spa is a holding company which controls three different subsidiaries active in the cement, media and construction industries 2009 consolidated sales achieved around € 1.3 bn The Group structure is the following: Mkt cap: € 281 m (a) 66.7% (b) 56.5% (c) 31.7% (d) 35.
Slide 21: Investor Relations
INVESTOR RELATIONS E-mail: invrel@caltagironegroup.it Tel. +39 06 32493227 Fax +39 06 32493277 www.caltagironeeditore.com 21