Jagran Prakashan Limited · NSE:JAGRAN
Jagran Prakashan — FY2015 Earnings Presentation
23 slides from Jagran Prakashan's earnings presentation, 2015
Slide 1: Jagran Prakashan Limited (JPL) Result Update Presentation FY2015
Jagran Prakashan Limited (JPL) Result Update Presentation FY2015
Slide 2: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Jagran Prakashan Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any secu
Slide 3: Print Media & Digital Media are Complementary
Print Media & Digital Media are Complementary Dependency of Indian Print Industry on classified revenue is limited to 15-20% in Urban Market & 5% in Regional Market. Source: FICCI-KPMG Indian Media & Entertainment Industry Report 2015 3
Slide 4: Hindi Print Market survives the Negative Perception...
Hindi Print Market survives the Negative Perception... Advertising Circulation 130 119 110 +9% 100 91 83 76 92 83 69 75 63 67 58 60 54 50 45 37 41 33 35 36 38 26 29 31 21 22 24 2010 2011 2012 2013 2014 2015p 2016p 2017p 2018p 2019p ... and continues to grow at a CAGR of 9 % Advertising : CAGR of 10.
Slide 5: JPL: Consistent Growth in Revenue - Higher than Industry
JPL: Consistent Growth in Revenue - Higher than Industry FY09-15 Revenue CAGR: 13.6% Advertising: 14.5% ( Industry : 11.7% ) Circulation: 12.1% ( Industry : 7.7% ) 1,703 1,770 1,522 133 158 1,355 154 390 1,221 359 152 129 315 942 265 824 238 88 75 216 197 1,186 1,247 938 1,053 854 552 638 FY09 FY10
Slide 6: EBITDA & Margin
EBITDA & Margin 19% 30% 29% 23% 19% 22% 25% 451 382 357 317 282 296 157 FY09 FY10 FY11 FY12 FY13 FY14 FY15 EBITDA Margins lower in FY12 & FY13 due to investments in new brands but have started improving [Rs. Crores] 6
Slide 7: Full Year Highlights
Full Year Highlights Ministry of Information and Broadcasting approves the acquisition of Radio City – Share Purchase Agreement signed in December 2014 – Radio City Revenue grew by 30% to Rs. 209 crores and Operating Profit by 52% to Rs. 65 crores which is way above the industry growth rates – Fro
Slide 8: Increased focus on Digital Business
Increased focus on Digital Business Jagran.com Jagranjosh.com Overall Jagran Sites 9.0 mln 1 3.9 mln 1 10 mln 20 Unique visitors Unique visitors Unique visitors Hindi News Sites Education Sites Health Sites JAGRAN.COM JAGRANJOSH.COM ONLYMYHEALTH.COM 1 1 2 Source: COMSCORE (April 2015) 8
Slide 9: Consolidated Financial Highlights
Consolidated Financial Highlights Quarter Operating Revenue EBITDA PBT 0.5% +33% +89% 420.7 422.7 104.8 156.0 79.0 82.6 Q4 FY14 Q4 FY15 Q4 FY14 Q4 FY15 Q4 FY14 Q4 FY15 Full Year Operating Revenue EBITDA PBT +4% +18% +37% 1,702.7 1,769.8 450.6 418.3 382.6 305.7 FY14 FY15 FY14 FY15 FY14 FY15 Rs. in Cr
Slide 10: Dainik Jagran Financial Highlights
Dainik Jagran Financial Highlights Quarter Operating Revenue Operating Profit Margin +4% +20% +436 bps 312.7 325.3 108.9 33.5% 91.1 29.1% Q4 FY14 Q4 FY15 Q4 FY14 Q4 FY15 Q4 FY14 Q4 FY15 Full Year Operating Revenue Operating Profit Margin +8% +12% +119 bps 1,258.0 1,358.4 462.5 32.9% 34.0% 413.4 FY14
Slide 11: Publication Business Financial Highlights
Publication Business* Financial Highlights Quarter Operating Revenue Operating Profit Margin +2% +36% +682 bps 392.4 399.6 107.6 26.9% 78.9 20.1% Q4 FY14 Q4 FY15 Q4 FY14 Q4 FY15 Q4 FY14 Q4 FY15 Full Year Operating Revenue Operating Profit Margin +6% +19% +310 bps 1,580.9 1,672.9 458.5 27.4% 384.2 24
Slide 12: Quarterly Revenue Break-up
Quarterly Revenue Break-up Quarter 4 (Rs. in Crores) Quarter 4 (% wise) 420.7 422.7 420.7 422.7 Others 40.3 31.9 9.6% 7.5% Circulation 88.7 10.4% 98.0 21.1% 23.2% 0.4% Advertising 291.7 292.9 69.3% 69.3% Q4 FY14 Q4 FY15 Q4 FY14 Q4 FY15 Ad Revenue grew in-spite of higher base of comparable quarter
Slide 13: Annual Revenue Break-up
Annual Revenue Break-up Full Year (Rs. in Crores) Full Year (% wise) 1,702.7 1,769.8 1,702.7 1,769.8 132.6 9.3% 7.5% Others 158.0 9% 390.1 21.1% 22.0% Circulation 358.7 5% Advertising 1,186.1 1,247.1 69.7% 70.5% FY14 FY15 FY14 FY15 Ad Revenue grew by 5% in spite of higher base of comparable last y
Slide 14: Consolidated Quarterly Profitability Statement
Consolidated Quarterly Profitability Statement Rs. in Crores Q4 FY15 Q4 FY14 YoY Advertising growth was flat due to Revenues 423 421 0.5% higher base in Q4 FY14 due Lok Sabha Advertisement Revenue 293 292 0.4% election and low rate advertisement Circulation Revenue 98 89 10.4% not accepted in Q4FY
Slide 15: Consolidated Adjusted PAT - Quarterly
Consolidated Adjusted PAT (Adjusted for non- recurring major items) - Quarterly Rs. in Crores Q4 FY15 Q4 FY14 YoY Reported PAT 129.7 55.2 135% Add: Exceptional/Prior Period Items - Amortisation of Title 0 10.1 Add: Additional Depreciation due to revision in useful life of assets 5.9 0 Add: Shortfall
Slide 16: Consolidated Annual Profitability Statement
Consolidated Annual Profitability Statement Rs. in Crores FY15 FY14 YoY Advertising growth came in at 5% Revenues 1,770 1,703 4% inspite of Lower Economic Growth and higher base due MPCG election Advertisement Revenue 1,247 1,186 5% & Lok Sabha election and low rate Circulation Revenue 390 359 9%
Slide 17: Consolidated Adjusted PAT - Annual
Consolidated Adjusted PAT (Adjusted for non- recurring major items) - Annual Rs. in Crores FY15 FY14 YoY Reported PAT 308.1 226.3 36% Add: Exceptional/Prior Period Items - Amortisation of Title 0 10.1 Add: Additional Depreciation due to revision in useful life of assets 16.9 0 Less: Exceptional/ Ext
Slide 18: Operating Margin break-up
Operating Margin break-up Publications (Rs. in Crores) Q4 FY15 Q4 FY14 FY15 FY14 Improved Operating Profit in Other Publications : Dainik Jagran – Rs. (1.3) crores in Q4 FY15 Operating Revenue 325.3 312.7 1,358.4 1,258.0 from Rs. (12.2) crores in Q4 Operating Profit 108.9 91.1 462.5 413.4 FY14 Ope
Slide 19: Consolidated Balance Sheet
Consolidated Balance Sheet Rs. in Crores Mar. ‘15 Mar. ‘14 Rs. in Crores Mar. ‘15 Mar. ‘14 Shareholder’s Fund 1,134.2 961.6 Non-current assets 1,230.1 1,095.4 Share capital 63.5 62.3 Fixed assets 613.1 672.5 Reserves & Surplus 1,070.8 899.4 Goodwill on consolidation 232.3 232.3 Minority Interest 1.0
Slide 20: Consolidated Cash flow Highlights
Consolidated Cash flow Highlights Rs. Crs. FY15 FY14 A Net Surplus/(Deficit) Generated from Operations 439 331 B Surplus / (Deficit ) from Investing Activities -441 -170 B1 Net CAPEX -51 -50 B2 Other Investing Activities -390 -120 C Surplus / (Deficit) from Financing Activities 17 -188 C1 Share Buyb
Slide 21: Radio City – Strong Financial Performance
Radio City – Strong Financial Performance Quarter (Rs. in Crores) Revenue EBITDA PAT* +21% +5% -18% 53.9 15.6 16.4 10.3 44.7 8.4 Q4 FY14 Q4 FY15 Q4 FY14 Q4 FY15 Q4 FY14 Q4 FY15 YTD (Rs. in Crores) Revenue EBITDA PAT* +30% +52% +100% 209.4 64.9 43.0 160.5 42.6 21.5 FY14 FY15 FY14 FY15 FY14 FY15 * NIL
Slide 22: Financials of Radio City
Financials of Radio City Rs. in Crores Q4 FY15 Q4 FY14 YoY FY15 FY14 YoY Revenues 53.9 44.7 21% 209.4 160.5 30% Expenses 37.6 29.0 29% 144.5 117.9 23% Operating Profit 16.4 15.6 5% 64.9 42.6 52% Operating Profit Margin 30.4% 35.0% 31.0% 26.5% Depreciation & Amortisation 3.9 4.0 15.7 15.5 Interest 4.
Slide 23: For further information, please contact:
For further information, please contact: Company : Investor Relations Advisors : Jagran Prakashan Ltd. Strategic Growth Advisors Pvt. Ltd. CIN: L22219UP1975PLC004147 CIN: U74140MH2010PTC204285 Mr. Amit Jaiswal Ms. Payal Dave / Mr. Jigar Kavaiya amitjaiswal@jagran.com dpayal@sgapl.net / kjigar@sgapl.