Grupo Clarin SA Class B · BCBA:GCLA
Grupo Clarin SA Class B — FY2019 Earnings Presentation
20 slides from Grupo Clarin SA Class B's earnings presentation, Mar 13, 2020
Slide 1: Full Year and Fourth Quarter Results 2019
Full Year and Fourth Quarter Results 2019 March 13th, 2020
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 Income Statement & Financial Debt Business Segments Ownership Structure & Corporate Governance Q & A Session Full Year and Fourth Quarter Results 2019
Slide 4: Macroeconomic Environment
Macroeconomic Environment Key Indicators Consumer Price Index(1) Central Bank Reference Rate(2) % yoy % yoy 56.2 54.1 78.4 51.8 52.2 47.3 65.0 68.2 59.3 62.7 55.0 35.4 27.1 40.0 23.3 25.3 28.8 27.3 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 D
Slide 5: Agenda
Agenda Argentina – Latest Events Income Statement & Financial Debt Business Segments Ownership Structure & Corporate Governance Q & A Session Full Year and Fourth Quarter Results 2019
Slide 6: Income Statement: FY19 & FY18
Income Statement FY19 & FY18 yoy figures Exhibit 1: Net Sales Exhibit 2: Adjusted EBITDA1 EBTIDA Margin (%) % yoy, AR$ MM % yoy, AR$ MM -14% 6.7 29,619 6.0 +32% 25,429 -17% 20,881 1,983 8.6 2,208 13,779 4,548 +18% 1,652 15,840 1,254 9.5 922 2,050 398 9,499 1,060 7,018 20,881 1,647 15,840 1,211 1,254
Slide 7: Income Statement: FY19 & FY18 cost breakdown
Income Statement FY19 & FY18, yoy figures EBTIDA Margin (%) Exhibit 4: FY18 Exhibit 5: FY19 AR$ MM AR$ MM 25,429 29,619 (14%) (15%) 18,728 15,995 Full Year and Fourth Quarter Results 2019 (13%) 8,908 7,783 6.7 6.5 1,983 (17%) 1,652 Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITD
Slide 8: Income Statement: 4Q19 & 4Q18
Income Statement 4Q19 & 4Q18 yoy figures Exhibit 6: Net Sales Exhibit 7: Adjusted EBITDA1 EBTIDA Margin (%) % yoy, AR$ MM % yoy, AR$ MM 7,430 -18% +26% 6,077 5,904 -0.6 0.9 528 2,762 173 -0.1 4,668 570 64 2,794 -0.3 337 2,197 245 5,904 68 4,668 -97 20 2,841 -176 2,187 -4 -152 -286 -258 -38 -4 -199 F
Slide 9: Financial Debt
Financial Debt Exhibit 9: Key Financial Ratios AR$ MM 30.7 MM at 59.9 ARS/ USD FY19 FY18 YoY Total Gross Debt Outstanding* 1,837.9 1,762.8 4.3% Total Gross Debt Incl. Interests** 1,856.7 1,785.8 4.0% Total Net Debt (341.0) (101.0) 237.7% Net Debt/ Adjusted EBITDA1 (0.21x) .05x NA % US$ Debt 78.7% 60
Slide 10: Agenda
Agenda Argentina – Latest Events Income Statement & Financial Debt Business Segments Ownership Structure & Corporate Governance Q & A Session Full Year and Fourth Quarter Results 2019
Slide 11: Broadcasting & Programming
Broadcasting & Programming Revenues & Costs EBTIDA Margin (%) Exhibit 11: 4Q18 Exhibit 12: 4Q19 AR$ MM AR$ MM 3,572 (19%) 2,904 (20%) 2,448 1,958 (9%) 12.2 11.0 689 626 (26%) 435 320 Full Year and Fourth Quarter Results 2019 Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales
Slide 12: Broadcasting & Programming II: Key Ratios
Broadcasting & Programming II Key Ratios Exhibit 13: Key Ratios +25% -1% 42.2 40.1 39.7 33.9 4Q18 4Q19 4Q18 4Q19 Prime Time1 (%) Advertising Share2 (%) Full Year and Fourth Quarter Results 2019 +4% 32.7 33.8 4Q18 4Q19 Total Time1 (%) (1) Share of broadcast TV audience according to IBOPE for AMBA. Pr
Slide 13: Printing & Publishing
Printing & Publishing Revenues & Costs EBTIDA Margin (%) Exhibit 16: 4Q18 Exhibit 17: 4Q19 AR$ MM AR$ MM 3,454 (16%) 2,907 2,064 (15%) 1,758 (19%) 1,578 1,276 (4.4) (5.4) 187 127 Full Year and Fourth Quarter Results 2019 Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales Adm
Slide 14: Printing & Publishing II: Key Ratios
Printing & Publishing II Key Ratios Exhibit 16: Key Ratios +1% -5% 232 234 54.0 51.3 4Q18 4Q19 4Q18 4Q19 Circulation1 (‘000s) Advertising Share2 (%) +10% Full Year and Fourth Quarter Results 2019 53.3 48.6 4Q18 4Q19 Circulation Share3 (%) (1) Average number of copies according to IVC (including Diar
Slide 15: Digital Content & Others
Digital Content & Others Revenues & Costs EBTIDA Margin (%) Exhibit 21: 4Q18 Exhibit 22: 4Q19 AR$ MM AR$ MM (41%) 518 878 (42%) 411 706 (11%) (21.0) 317 356 211 (40.7) 184 Full Year and Fourth Quarter Results 2019 Net Sales Cost of Selling & EBITDA Net Sales Cost of Selling & EBITDA Sales Adm. Sales
Slide 16: Agenda
Agenda Argentina – Latest Events Income Statement & Financial Debt Business Segments Ownership Structure & Corporate Governance Q & A Session Full Year and Fourth Quarter Results 2019
Slide 17: Ownership Structure & Corporate Governance
Ownership Structure & Corporate Governance Equity Participation at IPO1 Shareholder Structure3 % Number of Shares4 Free Float Controlling Shareholders2 85.1 MM 20,3% Free Float 21.6 MM • International (42%) • Local (58%) 79,7% Total 106.776 MM Full Year and Fourth Quarter Results 2019 Controlling Sh
Slide 18: Agenda
Agenda Argentina – Latest Events Income Statement & Financial Debt Business Segments Ownership Structure & Corporate Governance Q & A Session Full Year and Fourth Quarter Results 2019
Slide 19: Q & A Session
Q & A Session March 13th, 2020
Slide 20: Full Year and Fourth Quarter Results 2019 March 13th, 2020
Full Year and Fourth Quarter Results 2019 March 13th, 2020