Modern Times Group MTG AB Class A · OMXSTO:MTG_A
Modern Times Group MTG AB Class A — Modern Times Group — Q1 2014 Earnings Presentation
12 slides from Modern Times Group MTG AB Class A's earnings presentation, April 2014
Slide 1: Modern Times Group Q1 2014 Financial Results
MODERN TIMES GROUP Q1 2014 FINANCIAL RESULTS “RECORD Q1 SALES WITH DOUBLE DIGIT GROWTH” 1
Slide 2: Q1 2014 – Highlights
Q1 2014 – HIGHLIGHTS Sales up 13% at constant FX & 5% on an organic basis Organic growth in FTV Scandi and PTV Nordic accelerated by Olympics coverage in Sweden Double digit organic growth in PTV EM & content production businesses FTV EM – double digit growth in Baltics, Bulgaria and Ghana n
Slide 3: Group Performance: Investments Driving Growth
GROUP PERFORMANCE INVESTMENTS DRIVING GROWTH SALES GROWTH (Y-O-Y) EBIT (SEK MN) AND EBIT MARGIN (%) 16% 600 30 14% 500 25 12% 10% 400 20 8% 300 15 6% 4% 200 10 2% 100 5 0% Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 -2% 0 0 2012 2012 2012 2013 2013 2013 2013 2014 Q2 Q3 Q4 Q1 Q2 Q
Slide 4: Free-TV Scandinavia: The Olympic Quarter
FREE-TV SCANDINAVIA THE OLYMPIC QUARTER Sales up 4% at constant FX 28% of Group sales 2014 2013 Growth for 3rd consecutive quarter Jan-Mar Jan-Mar Swedish & Norwegian TV ad markets estimated to have grown, while the Danish market is estimated to have declined Sales (SEKm) 1,034 993 Growth (at co
Slide 5: Pay-TV Nordic: Accelerated Growth
PAY-TV NORDIC ACCELERATED GROWTH Sales up 7% at constant FX 38% of Group sales 2014 2013 Primarily driven by continued strong subscriber intake at Viaplay The organic growth has accelerated as the acquisition of the Jan-Mar Jan-Mar Danish TV3 Sports channels have now annualized Sales (SEKm) 1,40
Slide 6: Free-TV Emerging Markets: Continued Investments
FREE-TV EMERGING MARKETS CONTINUED INVESTMENTS Slightly lower sales at constant FX 14% of Group sales 2014 2013 Double digit growth in each of the Baltic markets, Bulgaria and Ghana Jan-Mar Jan-Mar Offset by lower sales in the Czech Republic following the exceptional growth levels in 2013 and ag
Slide 7: Pay-TV Emerging Markets: Continued Good Performance
PAY-TV EMERGING MARKETS CONTINUED GOOD PERFORMANCE Sales up 10% at constant FX Driven by wholesale subscription in general, and the Russian market 7% of Group sales 2014 2013 in particular Jan-Mar Jan-Mar Continued strong subscription growth Sales (SEKm) 266 245 Added almost 10m mini-pay subscri
Slide 8: Nice, MTGx, Radio
NICE, MTGX, RADIO CONTENT PRODUCTION DRIVES GROWTH Organic + acquisition led growth Consolidation of Nice, DRG and Novemberfilm in H2 2013 13% of Group sales 2014 2013 6% organic sales growth driven by double-digit growth within content production Jan-Mar Jan-Mar Sales for the combined radio b
Slide 9: Income Statement
INCOME STATEMENT INVESTMENTS DELIVER GROWTH Sales up 13% at constant FX Q1 in brief 2014 2013 5% organic growth Jan-Mar Jan-Mar Acquisitions add ~ 7 percentage points of growth Sales (SEKm) 3,597 3,209 3% EBIT margin (excl. associates) Sales growth (at constant FX) 13% 1% OpEx up 17% at consta
Slide 10: Cash Flow
CASH FLOW HIGH CASH CONVERSION LEVELS Healthy cash flow generation (SEKm) 2014 2013 76% of earnings converted into operating cash flow Jan-Mar Jan-Mar SEK 68m cash dividend payments received from CTCM Cash flow from operations 195 269 Strong financial position Changes in working capital -99 -190
Slide 11: Q1 2014 – Highlights
Q1 2014 – HIGHLIGHTS Sales up 13% at constant FX & 5% on an organic basis Organic growth in FTV Scandi and PTV Nordic accelerated by Olympics coverage in Sweden Double digit organic growth in PTV EM & content production businesses FTV EM – double digit growth in Baltics, Bulgaria and Ghana n
Slide 12: MTG Investor Relations
MTG INVESTOR RELATIONS FOR FURTHER INFORMATION VISIT WWW.MTG.SE TEL: +46 (0) 73 699 2714 EMAIL: INVESTOR.RELATIONS@MTG.SE 12