Metropole Television Sa · EURONEXT:MMT
Metropole Television Sa — Groupe M6 — H1 2022 Earnings Presentation
36 slides from Metropole Television Sa's earnings presentation, 2022
Slide 1: Presentation of Half-Year Results
ZA | SGROUPE! PRESENTATION OF ZO HALF-YEAR RESULTS
Slide 2: Presentation of 2022 Half-Year Results
PRESENTATION OF 2022 HALF-YEAR RESULTS INTRODUCTION OPERATIONS FINANCIAL STATEMENTS OUTLOOK 2
Slide 3: Disclaimer
DISCLAIMER DISCLAIMER Statements contained in this document, particularly those concerning forecasts on future M6 Group performance, are forward-looking statements that are potentially subject to various risks and uncertainties. Any reference to M6 Group past performance should not be interpreted as
Slide 4: Introduction
IL INTRODUCTION
Slide 5: HY1 2022 Highlights
INTRODUCTION HY1 2022 HIGHLIGHTS POWER OF CHANNELS’ STRONG BRANDS UNCERTAIN MACRO-ECONOMIC CLIMATE CONSOLIDATION OF STEPHANE Inflation Covid PLAZA IMMOBILIER Ukraine Crisis DECLINE IN INDIVIDUAL RECOVERY OF CINEMA VIEWING TIME BUSINESS CONTINUED INVESTMENT IN STREAMING CONTINUATION OF OPERATIONS REL
Slide 6: Further Increase in Operating Margin
I N T R O D U C T I O N FURTHER INCREASE IN OPERATING MARGIN H1 2019 H1 2021 H1 2022 +3.0% 714.6 +0.2% 664.2 +4.8% 645.0 566.3 539.3 530.1 529.1 +8.6% 479.9 503.0 165.0 165.4* -20.9% 161.1 152.3* 148.3 326.5 119.3 exc. non- recurring 94.4 items* 88.4 CONSOLIDATED ADVERTISING CONSOLIDATED REVENUE REV
Slide 7: Operations
y) OPERATIONS
Slide 8: Linear TV Audience Ratings
LINEAR TY AUDIENCE RATINGS
Slide 9: Individual Viewing Time for TV Screens in Decline
TELEVISION - AUDIENCE RATINGS H1 2022 / H1 2019: INDIVIDUAL VIEWING TIME FOR TV SCREENS IN DECLINE WHILE OTHER FORMATS ON THE RISE ON TV SCREENS Daily viewing time for TV and Other Uses per person with a TV 4+ WRP<50 Other uses 17% 22% 23% 33% 0h42 0h56 Other 0h55 uses Other +14 min 1h16 uses +21 mi
Slide 10: M6 Group Embedding Its Offers on 4 Screens
TELEVISION - AUDIENCE RATINGS H1 2022: FACED WITH DIVERSIFICATION IN VIEWING HABITS, M6 GROUP IS EMBEDDING ITS OFFERS IN ALL MARKETS ON 4 SCREENS Breakdown of Individual Daily Viewing Time across France – Time spent (in hrs:mins) – January – May 2022 (internal estimates) 4+ SVoD LINEAR 0:32 TV Youtu
Slide 11: Decline of Group Audience Figures
TELEVISION - AUDIENCE RATINGS TELEVISION - AUDIENCE RATINGS DECLINE OF GROUP AUDIENCE FIGURES WITHIN AN ENVIRONMENT FULL OF CURRENT EVENTS, BENEFITING PUBLIC BROADCASTERS AND NEWS CHANNELS, AND FACED WITH A CHALLENGING BASE EFFECT DUE TO THE BROADCAST OF EURO 2020 IN 2021 Audience shares by group* A
Slide 12: Record Half-Year in Primetime with WRP<50
TELEVISION - AUDIENCE RATINGS RECORD HALF-YEAR FOR THE GROUP IN PRIMETIME WITH WRP<50 MOST POPULAR 4-YEAR HIGH IN CHANNEL AMONGST PRIMETIME FRENCH PEOPLE** 4+ WRP<50 19.4% 3.1% 3.9% Prime time WRP<50 AUDIENCE SHARE 27.2% WRP <50 AUDIENCE RECORD HIGH RECORD HIGH WITH IN PRIMETIME WRP<50 IN PRIMETIME
Slide 13: M6 Channel's Primetime Firepower
TELEVISION - AUDIENCE RATINGS M6 CHANNEL’S PRIMETIME FIREPOWER SUCCESS OF NEW PROGRAMMES... 19.4% 22% WRP<50 WRP<50 AUDIENCE M6 - leader with SHARE IN PRIMETIME 15-34 year olds STRONG TRADITIONAL BRANDS 19% WRP<50 M6 - leader with 15-34 year olds Best ever season 2nd highest ever 2nd highest ever WR
Slide 14: W9 Retained Second Place in DTT, 6ter and Gulli Growth
TELEVISION - AUDIENCE RATINGS WRP<50: W9 RETAINED SECOND PLACE IN DTT, 6TER AND GULLI POSTED GROWTH 4+ 3,6 audience 3,1 2,9 H1 2021 H1 2022 share (%) 2,8 2,6 2,8 2,5 2,4 2,1 2,1 1,9 1,9 1,8 1,7 1,7 1,6 1,6 1,6 1,5 1,5 1,5 1,5 1,5 1,1 1,2 1,2 1,2 1,2 1,2 1,2 1,2 1,2 1,1 1,1 4,7 4,8 WRP<50 3,9 audienc
Slide 15: Group's DTT Channels Among the Most Powerful
TELEVISION - AUDIENCE RATINGS THE GROUP’S DTT CHANNELS AMONGST THE MOST POWERFUL ON THE COMMERCIAL TARGET MOST POPULAR DTT HD DTT LEADER FOR TOP KIDS’ CHANNEL IN CHANNEL AMONGST WRP<50 / UNDER 50S FRANCE FRENCH PEOPLE* TOP DTT CHANNEL FOR SPORT SUCCESSFUL DAYTIME LEADING NATIONAL CHANNEL SCHEDULE AF
Slide 16: Pay Channels Audience Ratings
TELEVISION– PAY CHANNELS AUDIENCE RATINGS Most watched pay-TV channel 11.1 m viewers every month Leading pay channel - upper H1 2022 : PARIS socio-economic categories* PREMIÈRE AND for the 8th consecutive wave TÉVA, POWERFUL AND WELL POSITIONED Téva posted strong growth CHANNELS IN THE PAY TV ENVIRO
Slide 17: Non-Linear Audience Ratings
NON-LINEAR AUDIENCE RAT S 6play
Slide 18: 6play AVOD Offer Going from Strength to Strength
NON LINEAR – 6PLAY AUDIENCE 6PLAY’S AVOD OFFER GOING FROM STRENGTH TO STRENGTH INCREASED APPEAL OF ITS ADVERTISING OFFER DEVELOPMENT OF THE AVOD OFFER IS BEARING FRUIT IN H1 2022 1 in 3 users now watches exclusive content +44% time spent watching exclusive content during H1 18M 251M active users 4,0
Slide 19: Radio Audience Ratings
2 RVAID IO) AUDIENCE RATINGS
Slide 20: Radio Division: Leading Privately-Owned Radio Group
RADIO - AUDIENCE RATINGS RADIO DIVISION – THE LEADING PRIVATELY-OWNED RADIO GROUP - IMPROVED STRONG GROWTH FOR RTL, WITH RECORD LEVELS FOR RTL2 YEAR-ON-YEAR CHANGE IN GROUP AND STATION AUDIENCE SHARES January-June 21 January-June 22 18,1 18,2 12,3 12,7 3,0 3,1 2,9 2,4 Source: Médiamétrie EAR-Nationa
Slide 21: RTL Matin Leader for Commercial Stations
RADIO - AUDIENCE RATINGS RTL MATIN, THE LEADER FOR COMMERCIAL STATIONS, POSTS STRONG GROWTH AS DOES THE REST OF THE DAYTIME SCHEDULE YEAR-ON-YEAR INCREASE IN RTL’S AUDIENCE SHARE FROM 7AM-9AM Ca Peut Vous Arriver Julien Courbet (9.30am-12.30pm) 13.1% (+0.6 pp) January-June 21 January-June 22 13,8 Le
Slide 22: RTL Leading Commercial Radio Station for Podcasts
RADIO - AUDIENCE RATINGS RTL - LEADING COMMERCIAL RADIO STATION FOR PODCASTS, WITH MORE THAN 32 MILLION PLAYS IN JUNE 2022 (18% MARKET SHARE) LES GR OSSES TÊTES IS FRANCE’S MOST POPULAR PODCAST NUMBER OF PLAYS AND/OR DOWNLOADS THE 5 MOST LISTENED TO/DOWNLOADED IN JUNE 2022 PODCASTS IN JUNE 2022 (THO
Slide 23: Advertising Market
ADDWIERTISING MARKET
Slide 24: Stable Advertising Revenues
ADVERTISING MARKET STABLE ADVERTISING REVENUES WITHIN A MORE UNCERTAIN ECONOMIC ENVIRONMENT DEVOID OF SPORTING EVENTS (EURO 2020 BROADCAST IN 2021) M6 group net advertising TV +0.3% revenue (€ millions) 454.3 930.4 453.8 455.3 +0.2% 539.3 529.1 530.1 H1 2019 H1 2021 H1 2022 Other operations -0.6% 85
Slide 25: Key Figures
FIGURES 25
Slide 26: TV: Increased Profitability Excluding Non-Recurring Items
TELEVISION - KEY FIGURES TV: INCREASED PROFITABILITY EXCLUDING NON-RECURRING ITEMS Revenue (€ m) EBITA (€ m) Stable advertising +0.8% (1) revenues 522.2 (1) +3.1% (2) 927.9 526.3 Necessary but contained 510.6 137.2 upturn in investments in 133.3 (2) programmes 489.5 129.3 (2) 129.0 Programming costs
Slide 27: Radio: Continuation of Cost Control Measures
RADIO - KEY FIGURES RADIO: CONTINUATION OF COST CONTROL MEASURES Revenue (€ m) EBITA (€ m) +2.1% +20.7% * 82.3 14.4 171.0 927.9 74.6 Stabilisation of 73.1 13.3 advertising revenues 11.1* 30.112.0 H1 2019 H1 2021 H1 2022 Cost control Operating margin from recurring operations 14.6% 15.1%* 17.9% Syner
Slide 28: Production and Audiovisual Rights: Recovery of Cinema Business
PRODUCTION & AUDIOVISUAL RIGHTS - KEY FIGURES PRODUCTION AND AUDIOVISUAL RIGHTS: RECOVERY OF CINEMA BUSINESS Revenue (€ m) Cinema Cinemas completely open in H1 2022 compared with closure from +34.8% 1 January to 18 May in 2021 75.1 40.1 26.7 4 films released in H1 2022 (vs. 2 in H1 2021 and 6 in H1
Slide 29: Diversification: Growth in Profitability
DIVERSIFICATION - KEY FIGURES DIVERSIFICATION: GROWTH IN PROFITABILITY DRIVEN BY THE INTEGRATION OF STÉPHANE PLAZA IMMOBILIER Revenue (€ m) 102.5 +22.5%* Consolidated since 1 January 2022: Revenue growth thanks in particular to €11.4 m in revenue (up vs. H1 2021) the recovery in the events and shows
Slide 30: Financial Statements
FINANCIAL STATEMENTS 30
Slide 31: Condensed Consolidated Statement of Comprehensive Income
FINANCIAL STATEMENTS CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 2022 / 2021 change M6 Group 30 June 2021 30 June 2022 (€ millions) Revenue 645.0 664.2 19.2 Other operating revenues 25.3 8.5 (16.8) Total operating revenues 670.3 672.7 2.4 Materials and other operating expenses (317.1) (
Slide 32: Condensed Balance Sheet
FINANCIAL STATEMENTS FINANCIAL STATEMENTS CONDENSED BALANCE SHEET 2022 / 2021 change M6 Group 31 December 2021 30 June 2022 (€ millions) Goodwill 332.5 332.6 0.1 Non-current assets 536.2 530.6 (5.6) Current assets 813.4 805.1 (8.3) Cash and cash equivalents 349.0 256.4 (92.6) TOTAL ASSETS 2,031.2 1,
Slide 33: Cash Flow Statement
FINANCIAL STATEMENTS CASH FLOW STATEMENT 2022 / 2021 M6 Group 30 June 2021 30 June 2022 change (€ m) Self-financing capacity from operations 203.8 194.3 (9.5) Change in operating WCR (9.2) (43.0) (33.8) Income tax (1.4) (49.0) (47.5) Cash flow from operating activities 193.2 102.3 (90.9) Cash flow f
Slide 34: Outlook
SMARTIES U plemier regard
Slide 35: H2 2022 Challenges
OUTLOOK OUTLOOK H2 2022 CHALLENGES Grow the business within a weaker economic environment and in the face of high comparison bases Strengthen the appeal of the Group’s range of content Follow-up of the merger project between M6 and TF1 Groups Continue to develop non-linear offers Develop the drama p
Slide 36: Questions
QUESTIONS • ANSWERS QUESTIONS 36 36