Grupo Clarin SA Class B · BCBA:GCLA
Grupo Clarin SA Class B — Q1 2010 Earnings Presentation
27 slides from Grupo Clarin SA Class B's earnings presentation, May 12, 2010
Slide 1: First Quarter Results 2010
First Quarter Results 2010 May 12th, 2010
Slide 2: Disclaimer: Forward Looking Statements
Disclaimer Forward Looking Statements Certain information included in this presentation may contain projections or other forward-looking statements regarding future events or the future financial performance of Grupo Clarín. You can identify forward-looking statements by terms such as “expect”, “bel
Slide 3: Agenda
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV & Internet Access Printing & Publishing Broadcasting & Programming Digital Content & Others 1Q Results - May 12th, 2010 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 4: Agenda
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV & Internet Access Printing & Publishing Broadcasting & Programming Digital Content & Others 1Q Results - May 12th, 2010 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 5: Income Statement
Income Statement 1Q10 & 1Q09, yoy figures EBTIDA Margin (%) Exhibit 1: Net Sales Exhibit 2: Adjusted EBITDA1 % yoy, AR$ MM % yoy, AR$ MM +9% 32.2 1,643 +22% 530 1 1,510 53 43 183 28.9 59 13 225 436 4 391 26 356 59 457 996 1,112 347 -110 -96 1Q Results - May 12th, 2010 1Q09 1Q10 1Q09 1Q10 Exhibit 3:
Slide 6: Income Statement
Income Statement 1Q10 & 1Q09, yoy figures EBTIDA Margin (%) Exhibit 4: 1Q09 Exhibit 5: 1Q10 AR$ MM AR$ MM 1,510 9% 1,643 756 761 1% 353 318 11% 32.2 28.9 1Q Results - May 12th, 2010 436 22% 530 Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales Adm. Sales Adm. Expenses Expen
Slide 7: Financial Debt
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV & Internet Access Printing & Publishing Broadcasting & Programming Digital Content & Others 1Q Results - May 12th, 2010 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 8: Financial Debt
Financial Debt Exhibit 6: Key Financial Ratios AR$ MM 670.6 MM at 3.88 ARS/ USD 3M10 FY09 3M09 QoQ YoY Total Gross Debt Outstanding* 2,602.3 2,575.0 3,094.9 1.1% (15.9%) Total Gross Debt Incl. Interests* 2,671.4 2,606.9 3,177.1 2.8% (15.9%) Total Net Debt (Incl. Reserve Accounts)** 2,024.6 2,098.6 2
Slide 9: Cable TV & Internet Access
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV & Internet Access Printing & Publishing Broadcasting & Programming Digital Content & Others 1Q Results - May 12th, 2010 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 10: Cable TV & Internet Access I
Cable TV & Internet Access I Revenues & Costs EBTIDA Margin (%) Exhibit 8: 1Q09 Exhibit 9: 1Q10 AR$ MM AR$ MM 996 12% 1,112 439 450 -2% 215 198 9% 41.1 34.9 1Q Results - May 12th, 2010 457 347 32% Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales Adm. Sales Adm. Expenses Ex
Slide 11: Cable TV & Internet Access II
Cable TV & Internet Access II Key Ratios Exhibit 10: Cable & Internet Access Statistics ‘000s 1Q10 1Q09 % Ch. 4Q09 QoQ Homes Passed 7,445.8 6,753.6 10.2% 7,457.0 (0.2%) Bidirectional Homes Passed 56.5% 47.0% 20.3% 56.6% (0.04%) Total CATV Consolidated Subscribers 3,227.8 3,212.4 0.5% 3,193.0 1.1% Ch
Slide 12: Cable TV & Internet Access III
Cable TV & Internet Access III Key Ratios Exhibit 11: Total Consolidated Cable Subscribers Exhibit 12: Total Equity Subscribers ‘000s ‘000s 0,5% 3% 3.212 3.228 3.189 3.299 +15 +109 1Q09 1Q10 1Q09 1Q10 Exhibit 13: Internet Subs Exhibit 14: Digital Subs Exhibit 15: Total ARPU ‘000s Cablemodem ’000s Ar
Slide 13: Printing & Publishing
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV & Internet Access Printing & Publishing Broadcasting & Programming Digital Content & Others 1Q Results - May 12th, 2010 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 14: Printing & Publishing
Printing & Publishing Revenues & Costs EBTIDA Margin (%) Exhibit 16: 1Q09 Exhibit 17: 1Q10 AR$ MM AR$ MM 356 10% 391 196 211 8% 21% 101 122 1Q Results - May 12th, 2010 16.6 15.0 59 -1% 59 Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales Adm. Sales Adm. Expenses Expenses 14
Slide 15: Printing & Publishing II
Printing & Publishing II Key Ratios Exhibit 18: Key Ratios -8% -3% 410 56.0 54.5 379 1Q09 1Q10 1Q09 1Q10 Circulation1 (‘000s) Advertising Share2 (%) -5% 47.1 44.9 1Q Results - May 12th, 2010 1Q09 1Q10 Circulation Share1 (%) (1) Average number of copies according to IVC (including Diario Clarín and O
Slide 16: Broadcasting & Programming
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV & Internet Access Printing & Publishing Broadcasting & Programming Digital Content & Others 1Q Results - May 12th, 2010 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 17: Broadcasting & Programming
Broadcasting & Programming Revenues & Costs EBTIDA Margin (%) Exhibit 19: 1Q09 Exhibit 20: 1Q10 AR$ MM AR$ MM 225 -19% 183 152 128 -16% 1Q Results - May 12th, 2010 -12% 47 11.3 42 7.0 26 -50% 13 Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales Adm. Sales Adm. Expenses Expe
Slide 18: Broadcasting & Programming II
Broadcasting & Programming II Key Ratios Exhibit 21: Key Ratios +3% +0% 37.4 38.4 37.2 37.2 1Q09 1Q10 1Q09 1Q10 Prime Time1 (%) Advertising Share2 (%) -2% 29.4 28.9 1Q Results - May 12th, 2010 1Q09 1Q10 Total Time1 (%) (1) Share of broadcast TV audience according to IBOPE for AMBA. Prime time is def
Slide 19: Digital Content & Others
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV & Internet Access Printing & Publishing Broadcasting & Programming Digital Content & Others 1Q Results - May 12th, 2010 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 20: Digital Content & Others I
Digital Content & Others I Revenues & Costs EBTIDA Margin (%) Exhibit 22: 1Q09 Exhibit 23: 1Q10 AR$ MM AR$ MM 43 23% 53 17 20% 21 22 39% 31 1Q Results - May 12th, 2010 8.8 2.5 4 1 -65% Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales Adm. Sales Adm. Expenses Expenses 20 So
Slide 21: Capex & Net Sales
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV & Internet Access Printing & Publishing Broadcasting & Programming Digital Content & Others 1Q Results - May 12th, 2010 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 22: Capex & Net Sales
Capex & Net Sales 1Q09 & 1Q10, QoQ figures Exhibit 24: Capex & Net Sales 1,643 53 1Q10 CAPEX Breakdown 183 1,510 43 391 225 1% 5% 356 3% 1,112 13.2% 14.7% 2 2 996 13 217 6 222 19 12 91% 189 198 -110 -96 1Q Results - May 12th, 2010 1Q09 1Q09 1Q10 1Q10 Net Sales Capex Net Sales Capex Cable TV & Intern
Slide 23: Ownership Structure & Corporate Governance
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV & Internet Access Printing & Publishing Broadcasting & Programming Digital Content & Others 1Q Results - May 12th, 2010 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 24: Ownership Structure & Corporate Governance
Ownership Structure & Corporate Governance Exhibit 25: Equity Participation at IPO1 Exhibit 26: Shareholder Structure % Number of Shares4 Free Float Controlling Shareholders 204,030,227 20% Goldman Sachs 26,198,157 GS3 9% Free Float 57,190,200 • International 23,609,784 (41%) 71% Controlling • Local
Slide 25: Q & A Session
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV & Internet Access Printing & Publishing Broadcasting & Programming Digital Content & Others 1Q Results - May 12th, 2010 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 26: Q & A Session
Investor Relations: hitp://www.grupoclarin.com/ir
Slide 27: First Quarter Results 2010
First Quarter Results 2010 May 12th, 2010