Grupo Clarin SA Class B · BCBA:GCLA
Grupo Clarin SA Class B — Q1 2015 Earnings Presentation
27 slides from Grupo Clarin SA Class B's earnings presentation, May 12, 2015
Slide 1: First Quarter Results 2015
First Quarter Results 2015 May 12th, 2015
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, 2015 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 4: Sales & EBITDA Growth
Agenda Argentina – Latest Events Sales & EBITDA Growth Financial Debt Cable TV & Internet Access Printing & Publishing Broadcasting & Programming Digital Content & Others 1Q Results - May 12th, 2015 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 5: Income Statement
Income Statement 1Q15 & 1Q14 yoy figures Exhibit 1: Net Sales Exhibit 2: Adjusted EBITDA1 EBTIDA Margin (%) % yoy, AR$ MM % yoy, AR$ MM 32.4 +49% 5,964 1,931 25.7 185 +87% 556 9 41 5 899 4,008 150 387 1,030 668 9 8 1,881 4,559 2,988 1,044 -32 1 -5 -185 -235 1Q Results - May 12th, 2015 1Q14 1Q15 1Q14
Slide 6: Income Statement
Income Statement 1Q15 & 1Q14, yoy figures EBTIDA Margin (%) Exhibit 4: 1Q14 Exhibit 5: 1Q15 AR$ MM AR$ MM 5,964 4,008 49% 2,612 1,989 31% 44% 1,421 32.4 988 25.7 1Q Results - May 12th, 2015 1,931 1,030 87% Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales Adm. Sales Adm. Ex
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, 2015 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 8: Financial Debt
Financial Debt Exhibit 6: Key Financial Ratios AR$ MM 589.4 MM at 8.82 ARS/ USD 1Q15 FY14 1Q14 QoQ YoY Total Gross Debt Outstanding* 5,200.0 4,491.1 4,484.3 15.8% 16.0% Total Gross Debt Incl. Interests** 5,276.9 4,613.0 4,541.4 14.4% 16.2% Total Net Debt 2,289.0 2,912.3 2,922.8 (21.4%) (21.7%) Net D
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, 2015 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: 1Q14 Exhibit 9: 1Q15 AR$ MM AR$ MM 2,988 53% 4,559 35% 1,689 1,255 989 689 41.3 43% 34.9 1,881 1,044 80% 1Q Results - May 12th, 2015 Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales Adm. Sales Adm.
Slide 11: Cable TV & Internet Access II
Cable TV & Internet Access II Key Ratios Exhibit 10: Cable & Internet Access Statistics ‘000s 1Q15 1Q14 % Ch. 4Q14 QoQ Homes Passed 7,518.2 7,509.5 0.1% 7,514.1 0.1% Bidirectional Homes Passed 69.1% 66.8% 3.4% 68.9% 0.3% Total CATV Subscribers 3,475.5 3,486.8 (0.3%) 3,491.1 (0.4%) Churn Rate 13.9% 1
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% 0% 3.487 3.476 3.613 3.605 -11 -9 1Q14 1Q15 1Q14 1Q15 Exhibit 13: Internet Subs Exhibit 14: Digital Subs Exhibit 15: Total ARPU ‘000s Other Internet Subs ’00
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, 2015 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 14: Printing & Publishing I
Printing & Publishing I Revenues & Costs EBTIDA Margin (%) Exhibit 16: 1Q14 Exhibit 17: 1Q15 AR$ MM AR$ MM 668 35% 899 18% 529 449 44% 1Q Results - May 12th, 2015 360 251 (4.7) 1.0 32 129% 9 Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales Adm. Sales Adm. Expenses Expenses
Slide 15: Printing & Publishing II
Printing & Publishing II Key Ratios Exhibit 18: Key Ratios -4% -4% 283 272 54.3 52.2 1Q14 1Q15 1Q14 1Q15 Circulation (‘000s) 1 +1% Advertising Share2 (%) 38.8 39.1 1Q Results - May 12th, 2015 1Q14 1Q15 Circulation Share3 (%) (1) Average number of copies according to IVC (including Diario Clarín and
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, 2015 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 17: Broadcasting & Programming I
Broadcasting & Programming I Revenues & Costs EBTIDA Margin (%) Exhibit 19: 1Q14 Exhibit 20: 1Q15 AR$ MM AR$ MM 387 44% 556 381 284 34% 1Q Results - May 12th, 2015 42% 134 94 7.4 2.3 361% 41 9 Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales Adm. Sales Adm. Expenses Expens
Slide 18: Broadcasting & Programming II
Broadcasting & Programming II Key Ratios Exhibit 21: Key Ratios +23% +14% 34.6 36.3 28.1 31.9 1Q14 1Q15 1Q14 1Q15 Prime Time (%) 1 Advertising Share2 (%) +20% 28.3 23.5 1Q Results - May 12th, 2015 1Q14 1Q15 Total Time1 (%) (1) Share of broadcast TV audience according to IBOPE for AMBA. Prime time is
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, 2015 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 20: Digital Content & Others
Digital Content & Others Revenues & Costs EBTIDA Margin (%) Exhibit 22: 1Q14 Exhibit 23: 1Q15 AR$ MM AR$ MM 24% 185 150 11% 89 80 50% 61 91 1Q Results - May 12th, 2015 5.4 2.4 8 (45%) 5 Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales Adm. Sales Adm. Expenses Expenses 20 S
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, 2015 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 22: Capex & Net Sales
Capex & Net Sales 1Q14 & 1Q15, YoY figures Exhibit 24: Capex & Net Sales 4,008 5,964 150 185 387 556 1Q15 CAPEX Breakdown 668 899 1.5% 2.1% 0.1% 2,988 4,559 14.4% 10.6% 2 1 577 9 13 634 34 10 96.3% 532 611 -185 -235 1Q Results - May 12th, 2015 1Q14 1Q14 1Q15 1Q15 Net Sales Capex Net Sales Capex Cabl
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, 2015 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 20,3% GS Unidos, LLC (RB) 25,156,869 GS Unidos, 8,8% LLC (RB)3 Free Float 58,231,488 70,9% • International 27,711,
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, 2015 CAPEX & Net Sales Ownership Structure & Corporate Governance Q & A Session
Slide 26: Q & A Session
Q & A Session May 12th, 2015
Slide 27: First Quarter Results 2015
First Quarter Results 2015 May 12th, 2015