Slide 1: 2011 Annual Results
C 3 CALTAGIRONE EDITORE 2011 Annual Results
Slide 2: Agenda
Agenda • Executive Summary • The Th Group G • Leadership in traditional newspapers and free press • The Advertising market • Financial highlights • The Caltagirone Group and main shareholders 2
Slide 3: Executive Summary
Executive Summary Since 2008 the publishing industry has undergone a structural crisis which is challenging the traditional business model. Caltagirone Editore has been successful in tackling this adverse trading environment by: • Keeping its n°2 position in Italian publishing, with 26,42% share of
Slide 4: The Group: N.2 in the domestic market
Tne Group: N.2 in the domestic market (1) Caltagirone Editore is the 2nd Italian publishing group with 26,42% share of average daily readers (1) Avg. daily Data in thousands readers 6,840 Avg. daily readers 5,965 Avg. daily readers 5,176 Avg. daily readers 30,30% 2,625 , 26,42% 22,93% 11,63% Gruppo
Slide 5: The Group: N.2 in the domestic market
Tne Group: N.2 in the domestic market (1) The Group publishes 4 titles among the first 15 in Italy 3523 3430 2321 1920 1746 1542 1607 1333 1109 936 746 703 604 594 541 Avg. daily readers /1000 (1) Source: Audipress 2011/III excluding specialized newspapers (financial and sports) and including free p
Slide 6: The Group: traditional newspapers and free press
The Group: traditional newspapers and free press Newspapers (1) New Media Advertising • National with 13 local editions • Readership 1,607,000 Advertising agency for the Group • National with 7 local editions Branch dedicated to • Readership 1,109,000 Internet • National with 8 local editions •
Slide 7: The Group: web and multimedia
The Group: web and multimedia In 2011 our websites audience kept growing and new platforms (Mobile and IPAD) have been launched, raising significant interest on the part of our readers, with 27% internet advertising expenditure from 2010 Title Internet website IPAD application Mobile – Iphone applic
Slide 8: Leadership in traditional newspapers and Free Press
Leadership in traditional newspapers and Free Press 8
Slide 9: CED has a strong local leadership
CED has a strong local leadership (1) Regions in which CED is #1 or # 2 in the market Considerable presence (> 10%) READERSHIP IN VENETO Combined with local newspapers (2) 35.9% READERSHIP IN LAZIO Gr Espresso-Repubblica Gr. 39 2% 39,2% 69.5% Caltagirone Editore 35,9% Caltagirone Editore 69,5% Athes
Slide 10: Leadership in the Central Italy
Leadership in the Central Italy Group newspapers have a well-established leadership(1) in the Macroregion (2) READERSHIP IN THE MACROREGION 64.2% Caltagirone g 64 2% 64,2% Editore Rcs 28,7% Gruppo Espresso - 24,4% Repubblica Metro 11,9% Poligrafici Ed. 5,4% 0,00% 10,00% 20,00% 30,00% 40,00% 50,00% 6
Slide 11: N.1 in the domestic market
N.1 in the domestic market (1) Leggo ranks as the first daily free newspaper in Italy with 1,920,000 daily readers. Since November 21st 2011 Leggo renews its format becoming Social Press. Nowadays it is distributed in the two most important Italian cities, cities Milan and Rome. Rome New Leggo is co
Slide 12: N.1 in the domestic market
N.1 in the domestic market Leggo is leader in the free press market with 35.1% share, around 10% of daily readers more than City and 24.5% more than Metro(1) Avg. daily readers 1.920.000 1.746.000 1.542.000 262.000 Metro City Leggo Dnews (1) Source: Audipress 2011/III 12
Slide 13: The Advertising Market
ee ee ne The Advertising Market
Slide 14: Advertising Italian market 2007-2011
Advertising Italian market 2007-2011 (1) From 2007 to 2011, advertising expenditure on traditional newspapers’ decreased (from 20.2% to 15,1% of total) vis-a-vis TV (from 52.7% to 54%) and “new media” 8,83 9,69 8,21 8,90 8,59 € Billion 12,1% 14,3% 19,9% 19,0% 21,5% 15,0% 7 4% 7,4% 10,7% OTHER 12,7%
Slide 15: Newspapers advertising
Newspapers advertising (1) • In 2011 newspapers advertising expenditure in Italy declined for the fourth consecutive year, -5,6% decrease (-5,1% national and -6% local advertising) compared to 2010 € billion 1.623 1.530 1.564 1.537 1.563 1.543 1 302 1.302 1.254 1.184 812 756 795 720 747 735 605 599
Slide 16: Financial Highlights
Financial Highlights g g 16
Slide 17: Profit & Loss
Profit & Loss • Revenues decreased by 9% due to strong advertising market contraction both on traditional newspapers and on free press • Circulation revenues decreased less than the national average Euro Million 2011 2010 Commenti Circulation 77,360 79,842 3.1% decrease Promotion 1,098 2,282 51.9% d
Slide 18: Restructuring: operating costs dynamics
Restructuring: operating costs dynamics € Million CAGR 07 - 11 273.2 263.1 250.8 220.9 217.3 -5.6% 121,1 114,7 106,6 98,9 94,7 1,5 1,0 9,5 -6.0% 2,0 2,5 111,5 110,4 -4.1% 102,2 92,0 94,4 -7.9% 39,1 37,1 32,4 25,6 28,2 2007 2008 2009 2010 2011 Other operating costs Personnel extraordinary charges Per
Slide 19: Financial strength: Net Financial Position
Financial strength: Net Financial Position € Million 31 12 10 31.12.10 Nett operating N ti cash flow €6.3 €1.6 Dividend €23.3 distribution 31.12.11 Investments (1) and other variations € 208.9 €180.9 (1) Investments in intangible assets , tangible assets, financial stakes and securities 19
Slide 20: The Caltagirone Group and main shareholders
The Caltagirone g Group p and main shareholders 20
Slide 21: Caltagirone Group and main shareholders
Caltagirone Group and main shareholders* • Caltagirone Spa is a holding company which controls three different subsidiaries active in the cement, media and construction industries • 2011 Consolidated revenues achieved € 1.45 billion and EBITDA €151.2 million Mkt Cap Cap:: € 181m 66.7% 56.5% 25.5% 31
Slide 22: Disclaimer
Disclaimer This presentation is not intended as an offer or solicitation of an offer to purchase or sell any financial instrument and it is being distributed to professional f i l investors i t only l and d to t financial fi i l communityit It may not be reproduced, redistributed or published in who