Alma Media Oyj · OMXHEX:ALMA
Alma Media Oyj — Q3 2010 Earnings Presentation
39 slides from Alma Media Oyj's earnings presentation, Oct 29, 2010
Slide 1: Alma Media Q3 2010
Alma Media Q3 2010 Kai Telanne, President & CEO Tuomas Itkonen, CFO October 29, 2010 1 29102010
Slide 2: Agenda
Agenda • Kai Telanne, President & CEO: • Highlights Q3 2010 • Markets Q3 2010 • Segment reviews • Tuomas Itkonen, CFO: • Financial review • Outlook statement • Questions & answers 2 29102010
Slide 3: Highlights Q3 2010
Highlights Q3 2010 • Clear upturn in the advertising market. – Strong growth in online media, +38.1% in Q3 . – Print newspaper advertising picked up. • Group net sales grew 3.0% to MEUR 75.2 (73.0), based on strengthening advertising market. – Strong growth in print media advertising in Aamulehti an
Slide 4: Key figures Q3 2010, MEUR
Key figures Q3 2010, MEUR 4 29102010
Slide 5: Markets Q3 2010
Markets Q3 2010 5 29102010
Slide 6: Advertising change by branch
Advertising change by branch Total market; change from previous year Q1 2010 vs 2009 Q2 2010 vs 2009 Q3 2010 vs 2009 Retail -1,5 % Retail -1,3 % Retail 7,5 % Motor v. -0,9 % Motor v. 3,2 % Motor v. 23,7 % Food &… -7,4 % Food &… 7,2 % Food & bev. 1,4 % Entert 0,0 % Entert -8,4 % Entert -1,3 % Houses
Slide 7: Advertising change by branch
Advertising change by branch Newspapers total; change from previous year Q1 2010 vs 2009 Q2 2010 vs 2009 Q3 2010 vs 2009 Retail -2,4 % Retail -3,2 % Retail 3,1 % Motor v. -0,2 % Motor v. 5,2 % Motor v. 23,9 % Houses -16,1 % Houses -11,8 % Houses -2,6 % Recru 3,2 % Recru 33,8 % Recru 49,1 % Entert -1
Slide 8: Advertising change by branch
Advertising change by branch Newspapers total; change from previous year P7 2010 vs 2009 P8 2010 vs 2009 P9 2010 vs 2009 Retail 2,2 % Retail 1,0 % Retail 5,7 % Motor v. 15,6 % Motor v. 19,6 % Motor v. 32,5 % Recru 38,3 % Recru 33,7 % Recru 72,0 % Houses 8,8 % Houses -8,9 % Houses -4,0 % Entert -3,1
Slide 9: Advertising sales change Q3/2010
Advertising sales change Q3/2010 Alma Media vs. market Market Alma Media Change, % Q3/10 * Q3/10 Newspapers total 7,2 6,8 ** Magazines 1,2 - Television 19,0 - Radio 11,4 - Internet 38,1 32,7 TOTAL 10,9 11,5 * Source: TNS Media Intelligence ** Newspapers segment (excl. online services), Kauppalehti a
Slide 10: Advertising sales change Q1-Q3 2010
Advertising sales change Q1-Q3 2010 Alma Media vs. market Market Alma Media Change, % Q1-Q3 10 * Q1-Q3 10 Newspapers total 1,9 0,6 ** Magazines -3,3 - Television 9,5 - Radio 6,4 - Internet 33,6 26,0 TOTAL 5,3 5,1 * Source: TNS Media Intelligence ** Newspapers segment (excl. online services), Kauppal
Slide 11: Segment reviews
Segment reviews 11 29102010
Slide 12: Newspapers Q3 2010
Newspapers Q3 2010 • Net sales MEUR 53.5 (51.7), slightly above the level of Q3 2009. • Advertising sales grew 7.9% to MEUR 23.9 (22.2); positive development in both print and online media advertising. • Circulation net sales at Q3 2009 level, MEUR 28.4, mainly based on increases in subscription pri
Slide 13: Kauppalehti Group Q3 2010
Kauppalehti Group Q3 2010 • Net sales excl. the impact of divested Kauppalehti 121 Oy grew 3.3% and amounted to MEUR 13.3 (12.9). – Group reported net sales amounted to MEUR 13.3 (14.6) – Advertising sales increased 18.8%; online advertising grew 46.7%. – Content sales excl. the impact of Kauppaleht
Slide 14: Marketplaces Q3 2010
Marketplaces Q3 2010 • Net sales grew 26.0% to MEUR 7.9 (6.2). – The increase in sales mainly attributable to the strong growth of housing and recruitment advertising. – Cooperation in national classified advertising business with Arena Partners started, including Etuovi.com, Autotalli.com, Vuokraov
Slide 15: Other operations Q3
Other operations Q3 • The segment includes the operations of Group’s printing and distibution unit and the parent company. – Provides services primarily to other Alma Media’s business units. • Net sales amounted to MEUR 19.6 (17.7). – Inter-segment net sales MEUR 17.8, external net sales MEUR 1.7. •
Slide 16: Financial review
Financial review 16 29102010
Slide 17: Key figures Q3 2010, MEUR
Key figures Q3 2010, MEUR 17 29102010
Slide 18: Net sales change by type, MEUR
Net sales change by type, MEUR 18 29102010
Slide 19: Net sales Q3/2010, MEUR
Net sales Q3/2010, MEUR w/o onetime items Newspapers Kauppalehti-Group Marketplaces 53,5 MEUR (69,7%) 13,3 MEUR (17,5%) 7,9 MEUR (10,5%) 20 5,0 10 9 4,0 15 8 7 6 3,0 10 5 4 2,0 3 5 2 1,0 1 0 0 0,0 Etuovi.com 53,3% (4,1 MEUR) Aamulehti 35,0% (18,7 MEUR) Kauppalehti 70,8% (9,5 MEUR) monster 15,9% (1,2
Slide 20: Net sales change Q3/2010 vs Q3/2009
Net sales change Q3/2010 vs Q3/2009 w/o onetime items Alma Media total Newspapers Kauppalehti-Group Marketplaces +2,2 MEUR (+3,0 %) +1,8 MEUR (+3,5 %) -1,2 MEUR (-8,6 %) +1,6 MEUR (+26,0 %) 2,0 1,4 0,5 1,20 1,5 1,2 1,00 0,0 1,0 1,0 0,80 0,8 -0,5 0,5 0,60 MEUR MEUR MEUR MEUR 0,6 0,0 0,40 0,4 -1,0 -0,
Slide 21: Net sales by segment, MEUR
Net sales by segment, MEUR 21 29102010
Slide 22: Net sales by segment, MEUR
Net sales by segment, MEUR 22 29102010
Slide 23: EBIT by segment, MEUR
EBIT by segment, MEUR 23 29102010
Slide 24: EBIT by segment, MEUR
EBIT by segment, MEUR 24 29102010
Slide 25: Cash flow from operating activities
Cash flow from operating activities IFRS 30,0 25,0 20,0 MEUR 15,0 10,0 5,8 4,9 5,0 3,9 0,0 Q1 08 Q2 08 Q3 08 Q4 08 Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Tax return 25 29102010
Slide 26: Cash flow and investments
Cash flow and investments IFRS 8 5,0 7,4 7 4,0 6 3,0 4,9 5 2,0 MEUR MEUR 3,9 4 1,0 3 0,0 2,4 2 -1,0 1 -1,4 -2,0 -2,2 0 -3,0 Q3 09 Q3 10 Q3 09 Q3 10 from operating activities gross investments before financing activities proceeds from sales of assets 26 29102010
Slide 27: Net debt, MEUR
Net debt, MEUR IFRS 30 19,8 20 10 MEUR 0 -3,2 -10 -7,9 -14,5 -20 -16,5 -21,7 -30 Q1 08 Q2 08 Q3 08 Q4 08 Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 27 29102010
Slide 28: Key ratios in 2010
Key ratios in 2010 IFRS Equity ratio, % Gearing, % ROE% ROI% 80 0 60 50 45 47,0 70 69,6 -5 50 40 67,2 48,6 60 35 37,3 40 42,7 50 -10 30 40 30 25 -15 20 30 -17,1 20 15 20 -20,5 -20 10 10 10 5 0 -25 0 0 Q4 09 Q3 10 Q4 09 Q3 10 Q3 09 Q3 10 Q3 09 Q3 10 28 29102010
Slide 29: EPS and shareholders' equity per share
EPS and shareholders' equity per share 0,14 1,6 0,12 1,4 0,10 1,2 0,08 1,0 0,72 0,65 0,06 0,13 0,8 0,11 0,04 0,6 0,02 0,4 0,64 0,66 0,00 0,2 -0,01 -0,02 0,0 Q3 09 Q3 10 Q4 09 Q3 10 EPS wo onetime Retained earnings Onetime items Restricted equity 29 29102010
Slide 30: Balance sheet
Balance sheet IFRS MEUR Q3 2010 Q3 2009 Intangibles and goodwill 40,9 44,5 Tangibles 29,0 32,7 Associated companies 33,1 29,2 Inventory 0,9 1,3 Receivables 42,2 32,5 Cash 25,8 15,1 Assets 171,7 155,4 Equity 106,0 86,8 Reserves-obligatory 0,3 0,7 Pension liabilities 2,8 3,4 Ib debt 4,1 11,9 Non-Ib de
Slide 31: Outlook statement
Outlook statement 31 29102010
Slide 32: Outlook statement
Outlook statement Oct 29, 2010 • Alma Media expects the 2010 full-year net sales to increase moderately from the 2009 level as a result of the growth in media advertising. The 2010 full-year operating profit without one-time items is expected to increase from the comparison year. 32 29102010
Slide 33: Questions & answers
Questions & answers 33 29102010
Slide 34: Upcoming events
Upcoming events Nov 24, 2010 Capital Markets Day Feb 16, 2011 Financial Statement Bulletin 2010 34 29102010
Slide 35: Appendices
Appendices 35 29102010
Slide 36: Advertising by branch Q3/2010
Advertising by branch Q3/2010 Total market; change from Q3/2009 Advertising in Q3/10 MEUR Retail 7,5 % Retail 58 Motor v. 23,7 % Motor vehicles 24 Food & bev. 1,4 % Food & beverages 16 Entert -1,3 % Entertainment 11 Houses 4,3 % Houses and premises 11 Recru 47,1 % Recruiting 10 Tele 21,2 % Telecommu
Slide 37: Advertising by branch Q1-Q3 2010
Advertising by branch Q1-Q3 2010 Total market; change from Q1-Q3 2009 Advertising in Q1-Q3 10 MEUR Retail 1,2 % Retail 181 Motor v. 10,6 % Motor vehicles 72 Food & bev. 0,5 % Food & beverages 65 Recru 25,5 % Recruiting 32 Entert -3,4 % Entertainment 31 Houses -2,9 % Houses and premises 31 Tele 23,7
Slide 38: Advertising by branch Q3/2010
Advertising by branch Q3/2010 Newspapers total; change from Q3/2009 Advertising in Q3/10 MEUR Retail 3,1 % Retail 44 Motor v. 23,9 % Motor vehicles 14 Houses -2,6 % Houses and premises 7 Recru 49,1 % Recruiting 6 Entert -9,3 % Entertainment 5 Tourism -8,4 % Tourism and traffic 4 Tele 37,9 % Telecomm
Slide 39: Advertising by branch Q1-Q3 2010
Advertising by branch Q1-Q3 2010 Newspapers total, change from Q1-Q3 2009 Advertising in Q1-Q3 10 MEUR Retail -1,0 % Retail 137 Motor v. 8,9 % Motor vehicles 41 Houses -10,4 % Houses and premises 21 Recru 24,2 % Recruiting 20 Entert -8,2 % Entertainment 14 Tourism -11,9 % Tourism and traffic 12 Tele