ProSiebenSat.1 Media SE · XETR:PSM
ProSiebenSat.1 Media — Q2 2016 Earnings Presentation
20 slides from ProSiebenSat.1 Media's earnings presentation, Aug 4, 2016
Slide 1: Q2/H1 2016 Press Presentation
The power of television August 4, 2016 Thomas Ebeling, CEO Dr. Gunnar Wiedenfels, CFO Q2/H1 2016 Press Presentation | August 4, 2016 | | Page 1
Slide 2: Key financials in Q2 2016
1 2 3 4 Q2/H1 2016 – At a Glance Key financials in Q2 2016 [Q2 2016 vs. Q2 2015; in EUR m] Revenues 886 +15% ✔ Recurring EBITDA 254 +7% ✔ Underlying net income 133 +8% ✔ | August 4, 2016 | Continuing operations | Page 2
Slide 3: Key financials in H1 2016
1 2 3 4 Q2/H1 2016 – At a Glance Key financials in H1 2016 [H1 2016 vs. H1 2015; in EUR m] Revenues 1,688 +18% ✔ Recurring EBITDA 424 +9% ✔ Underlying net income 207 +7% ✔ | August 4, 2016 | Continuing operations | Page 3
Slide 4: 2018 Group revenue growth target and achievement by Q2 2016
1 2 3 4 Q2/H1 2016 – At a Glance 2018 Group revenue growth target and achievement by Q2 2016 2018 Group revenue and recurring EBITDA target 2018 segment revenue targets [in EUR m] [in EUR m] 4,206 3,522 2,356 2,301 2,181 1,926 1,535 1,095 1,029 960 745 335 302 370 95 ProSiebenSat.1 Group Group rec.
Slide 5: ProSiebenSat.1 is well positioned for future growth
1 2 3 4 Q2/H1 2016 – At a Glance ProSiebenSat.1 is well positioned for future growth Broadcasting German-speaking Digital & Adjacent Content Production & Global Sales TV advertising revenue growth Dynamically increasing digital Growing content library Print to TV media mix shift video consum
Slide 6: Strong participation in new P7S1 employee share plan
1 2 3 4 Q2/H1 2016 – At a Glance Strong participation in new P7S1 employee share plan 49% 52% first-time of participants invest participation of maximum amount in eligible employees1) multi-year share at launch of program MyShares program | August 4, 2016 | 1) Basis: 3,720 employees; 1,823 actually
Slide 7: Q2 2016: Group revenue growth again driven by all segments
1 2 3 4 Q2/H1 2016 – Financial Performance Review Q2 2016: Group revenue growth again driven by all segments Key Group revenue growth drivers vs. PY [Q2 2016 external revenues; growth rates in %] Broadcasting German-speaking Digital & Adjacent Content Production & Global Sales EUR 541m, +1% EUR 263m
Slide 8: Q2/H1 2016: Group P&L – improvement of all key metrics
1 2 3 4 Q2/H1 2016 – Financial Performance Review Q2/H1 2016: Group P&L – improvement of all key metrics [in EUR m] Q2 2016 Q2 2015 Δ H1 2016 H1 2015 Δ Revenues 886 772 +15% 1,688 1,427 +18% Recurring EBITDA 254 238 +7% 424 390 +9% Non-recurring items 4 -12 ./. -5 -19 -74% Thereof Group share plan1)
Slide 9: Financial leverage at the end of Q2 2016 well inside target range
1 2 3 4 Q2/H1 2016 – Financial Performance Review Financial leverage at the end of Q2 2016 well inside target range of 1.5-2.5x net debt to recurring EBITDA Net debt [in EUR m] Net financial debt 2,500 2.0x 2.1x 2,000 223 1,500 1,000 2,005 1,782 500 0 30/06/2015 Change 30/06/2016 Financial leverage
Slide 10: Softer Q2 ratings due to EURO 2016
1 2 3 4 Broadcasting German-speaking Softer Q2 ratings due to EURO 2016 Audience share [in %] Q2 2016 Q2 2015 Germany 27.8% 29.8% (A 14-49) PULS 4 with Austria 22.6% 23.3% strongest Q2 (A 12-49) in channel history (4.4%) Switzerland 16.7% 19.0% (A 15-49) Basis for GER: All German TV households (GER+
Slide 11: Upward trend continued with expected sports effect in June
1 2 3 4 Broadcasting German-speaking Upward trend continued with expected sports effect in June Audience share development Germany (A 14-49) [in %] Q1/2016 +1.1 +0.4 +0.3 +0.3 -4.4 Q2/2016 28.4 28.8 29.1 29.4 27.3 25.0 January 2016 February 2016 March 2016 April 2016 May 2016 June 2016 Basis: All Ge
Slide 12: Positive TV ad performance
1 2 3 4 Broadcasting German-speaking / Ad Market Performance Positive TV ad performance P7S1 German-speaking net TV advertising revenue growth of >2% in H1 ✔ Continued increase of TV share in media mix1) ✔ Continued positive pricing development ✔ Growing number of addressable TV campaigns ✔ | August
Slide 13: maxdome with strong SVoD subscriber growth
1 2 3 4 Digital & Adjacent maxdome with strong SVoD subscriber growth Curated recommen- dations +71% +32% +23% SVoD Total Total subscribers1) video views2) user base3) Top 3 market position Relaunch in April 2016 1) End of period Q2 2016 vs. end of period Q2 2015; 2) Q2 2016 vs. Q2 2015; 3) Average
Slide 14: Verivox has achieved a strong performance
1 2 3 4 Digital & Adjacent Verivox has achieved a strong performance New brand campaign underlining and further driving +23% positioning as trusted consumer revenue portal growth1) New verticals New travel vertical with 2) with technology, service & content from leveraging cross- +46% platform syner
Slide 15: Our largest travel asset ETI is notably outperforming the market
1 2 3 4 Digital & Adjacent Our largest travel asset ETI is notably outperforming the market Data excellence Value drivers Increasing scale through internationalization Push of Überflieger brand through P7S1 TV power >20x1) +81% +42% growth of market revenue transaction growth growth volume | August
Slide 16: Three-pillar strategy of SevenVentures
1 2 3 4 Digital & Adjacent Three-pillar strategy of SevenVentures Acquisitions of previous Exits of SevenVentures Transfer to P7S1’s SevenVentures media deals portfolio traditional TV ad business by P7S1 | August 4, 2016 | | Page 16
Slide 17: SevenVentures added/extended three deals in Q2 2016
1 2 3 4 Digital & Adjacent C SevenVentures added/extended three deals in Q2 2016 New/extended deals in SevenVentures portfolio1) New Extended New | August 4, 2016 | 1) HeilpflanzenWohl closed on July 7, 2016 (related party transaction, for more details please see page 51 in Q2 2016 report). | Page 1
Slide 18: We confirm our positive full-year guidance
1 2 3 4 Q2/H1 2016 – Outlook We confirm our positive full-year guidance Group revenue growth to exceed +10% ✔ Ad performance in line with positive net TV ad market growth range ✔ Digital & Adjacent with double-digit revenue growth ✔ Recurring EBITDA and underlying net income above prior year ✔ | Aug
Slide 19: Disclaimer
Disclaimer This presentation contains "forward-looking statements" regarding ProSiebenSat.1 Media SE ("ProSiebenSat.1") or ProSiebenSat.1 Group, including opinions, estimates and projections regarding ProSiebenSat.1's or ProSiebenSat.1 Group's financial position, business strategy, plans and objecti
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