Caltagirone Editore S.p.a. · MIL:CED

Caltagirone Editore — Investor Presentation (May 2005)

23 slides from Caltagirone Editore's investor presentation, May 2005

  1. Slide 1: Caltagirone Editore – May 2005

    C CALTAGIRONE EDITORE May 2005

  2. Slide 2: Legal Disclaimer

    LEGAL DISCLAIMER ¾This document has been prepared by Caltagirone Editore Group for information purposes only and it is not intended as an offer or solicitation of an offer to purchase or sell any financial instrument. ¾Any forward-looking statement on Group performance has not been independently ver

  3. Slide 3: Agenda

    AGENDA „ SHAREHOLDERS STRUCTURE „ CORE ACTIVITIES „ TRADITIONAL NEWSPAPERS „ FREE PRESS - MAIN FEATURES - NATIONAL LEADERSHIP „ NEWSPAPER INDUSTRY OVERVIEW „ NEWSPAPERS: LOCAL STRENGTH „ PROFITABILIY vs. QUOTED PEERS „ RECENT HISTORY „ FINANCIALS „ OUTLOOK „ APPENDIX Il Messaggero headquarters in Vi

  4. Slide 4: Shareholders Structure

    SHAREHOLDERS STRUCTURE OTHER GROUP QUOTED COM PANIES 7% CALTAGIRONE SpA* FREE FLOAT 29% 32% F.G.C. 32% N° N°OF OFORDINARY ORDINARYSHARES: SHARES:125.000.000 125.000.000 MARKET MARKET CAP: € 870m**** CAP: € 870m LISTED LISTEDON ONTHE THEBLUE BLUECHIP CHIPSEGMENT SEGMENTOFOFTHE THEITALIAN ITALIANSTOCK

  5. Slide 5: Core Activities

    CORE ACTIVITIES TRADITIONAL NEWSPAPERS FREE PRESS •1,227000 daily readers (2) •2004 Sales : € 161m • Market share: 48.8% in Lazio (3) • 713,000 daily readers (2) • 2004 Sales : € 62m • 1,157,000 daily readers (1) • Market share: 54.6% in Campania (3) • 1.050.000 daily copies distributed • 2004 Sales

  6. Slide 6: Traditional Newspapers

    TRADITIONAL NEWSPAPERS STRONG TRADITIONAL NEWSPAPERS 1 NATIONAL EDITION + 13 LOCAL EDITIONS 1 NATIONAL EDITION + 7 LOCAL EDITIONS RECENTLY ACQUIRED / CONSOLIDATED NEWSPAPERS LEADER IN MARCHE : 41 % MARKET SHARE* LEADER IN SALENTO **: 36.7 % MARKET SHARE* * Based on “Audipress Population”, source: Au

  7. Slide 7: Traditional Newspapers: National Newspapers with High Brand Visibility

    TRADITIONAL NEWSPAPERS NATIONAL NEWSPAPERS WITH HIGH BRAND VISIBILITY • National newspaper with high brand visibility • National newspaper with high brand visibility • 13 local editions • 7 local editions • Avg. 50 pages up to maximum 64 pages, of • Avg. 50 pages up to maximum 64 pages, of which 40

  8. Slide 8: Free Press: Main Features

    FREE PRESS: MAIN FEATURES 1st free newspaper in Italy with daily readership of 1.157.000* Reached 1.050.000 copies in 2005; distributed in 15 cities MAIN FEATURES NEW CITIES FROM 2005 Genova, Como, Varese, • Launched in March 2001, reached about € 21m advertising revenue and Bergamo, Brescia, Bari b

  9. Slide 9: Free Press: National Leadership

    FREE PRESS: NATIONAL LEADERSHIP 1st free newspaper in Italy with daily readership of 1.157.000* Reached 1.050.000 copies in 2005; distributed in 15 cities NEW CITIES FROM 2005: Lombardia Veneto Lombardia Bergamo, Brescia, Como, 38% increase in 2004 Varese 124.000 Avg. Daily readers 24% increase in 2

  10. Slide 10: Free Press: National Leadership – Leggo is N.1 free newspaper

    FREE PRESS: NATIONAL LEADERSHIP Leggo is the N.1 free newspaper in Italy: 1.157.000 avg daily readers* in 2004 (+ 18%) Reached 1.050.000 copies in 2005; distributed in 15 cities National Avg. Daily readers * 2003 +18% 2004 1.157.000 +1.7% 979.000 -9.5% 734.000 747.000 692.000 626.000 Metro City Legg

  11. Slide 11: Newspaper Industry Overview

    NEWSPAPER INDUSTRY OVERVIEW IL MESSAGGERO AND IL MATTINO ARE AMONGST THE TOP 10 NATIONAL NEWSPAPERS* READERSHIP IN ITALY (000 readers per day)* LA REPUBBLICA 2916 IL CORRIERE DELLA SERA 2899 LA STAMPA 1601 IL RESTO DEL CARLINO 1229 IL MESSAGGERO 1227 LA NAZIONE 982 IL GAZZETTINO 758 IL MATTINO 713 I

  12. Slide 12: Newspapers: Local Strength

    NEWSPAPERS: LOCAL STRENGTH EACH NEWSPAPER COMMANDS STRONG LOCAL MARKET SHARE *… 48,8% 41% MARKET SHARE IN LAZIO* MARKET SHARE IN MARCHE* Il Il Corriere 41,0% 48,8% Adriatico Messaggero Il Resto del La 36,2% 22,6% Carlino Repubblica Il Messaggero 19,1% Il Corriere 11,2% della Sera 0,0% 10,0% 20,0% 30

  13. Slide 13: Newspapers: Local Strength – Combined Market Share in Macroregion

    NEWSPAPERS: LOCAL STRENGTH …BUT COMBINED MARKET SHARE IN THE MACROREGION* IS UNPARALLELED: 46,9% ** Il Messaggero + Il Mattino + 46,9% Il Corriere Adriatico La Repubblica 19,5% Corriere della Sera 10,8% Il Centro 6,0% 60,1% COMBINED MARKET SHARE IN MARCHE Il Corriere dell'Umbria 5,8% Il Tempo 5,1% *

  14. Slide 14: Profitability vs Quoted Peers

    PROFITABILITY vs QUOTED PEERS CALTAGIRONE EDITORE RANKS AS THE MOST PROFITABLE MEDIA GROUP… 23,8% 2002 2003 2004 22,0% 21,4% 22,1% EBITDA MARGIN 18,8% 17,3% 14,2% 14,3% 13,8% 14,3% 11,7% 9,8% 9,5% 8,2% 5,2% RCS P O L I G R A F I C I ED I T O R I A L E M ON D A D OR I G R U P P O ED I T O R I A L E L

  15. Slide 15: Recent History: Profitability Over Time

    RECENT HISTORY PROFITABILITY OVER TIME 1997- 2000 2001 - 2003 • Strong cyclical upswing • Economic slowdown • Reorganization of activities and • Advertising decline completion of turnaround process • Further improvement in efficiency through operating costs reduction 31.4% PERFORMANCE 29.1% EBITDA m

  16. Slide 16: Financials: Revenue Breakdown

    FINANCIALS: REVENUE BREAKDOWN ADVERTISING IS THE MAIN DRIVER OF GROUP REVENUES Circulation Add on promotions Advertising Internet&Services Others € millions 5 4 4 4 5 4,4 7,1 2 3 2 2,5 3,6 106 136 165 152 153 164 175 11 15 72 71 69 68 67 67 68 1998 1999 2000 2001 2002 2003 2004 16

  17. Slide 17: Financials: Full Year Results

    FINANCIALS: FULL YEAR RESULTS Profit and Loss Account * 2004 2003 ∆% COMMENTS (Euro 000) Circulation 83.367 78.185 6,6% Promotion contributed € 15m to circulation revenue Advertising 174.939 163.594 6,9% From 1./7/04 “Il Corriere Adriatico” Other revenues 10.760 6.922 55,4% contributed over € 1.9m t

  18. Slide 18: Financials: First Quarter 2005 Highlights

    FINANCIALS: FIRST QUARTER 2005 HIGHLIGHTS Euro 000 1°Q 1°Q ∆% 2005 2004 Circulation 20.389 21.957 -7,1% Advertising 43.769 41.197 6,2% Lower promotions revenue in Q1-05, matched by lower service costs. New Other revenues 2.434 1.975 23,2% initiatives under way Total Revenues * 66.592 65.129 2,2% Raw

  19. Slide 19: Financials: Net Financial Position

    FINANCIALS NET FINANCIAL POSITION 2003 NFP € 146m 31.3.05 € 66.3m € 69m NFP Cash flow € 441.9m Acquisition of generation Financial minorities and Il and non core investments Corriere asset Adriatico disposal € 293.2m (€10m) 19

  20. Slide 20: Strategy: Growth

    STRATEGY: GROWTH CIRCULATION CIRCULATION Circulation flat; Add on promotions to provide growth INVESTMENT INVESTMENTIN IN CORE BUSINESS ADVERTISING ADVERTISING CORE BUSINESS VALUE VALUE CREATION CREATION Local advertising more We pursue organic as resilient in downturns well as external growth AND N

  21. Slide 21: Appendix

    APPENDIX 21

  22. Slide 22: The Caltagirone Group

    THE CALTAGIRONE GROUP ¾ Il Gruppo Caltagirone family-controlled industrial concern with aggregated sales over €1.3 bn (2004) (a) ¾ Group structure is based on three main activities: Construction, Cement and Media ¾ The Group holds financial investments in several quoted companies Finanziaria Italia

  23. Slide 23: Investor Relations

    www.caltagironeeditore.it INVESTOR RELATIONS Tel. +39 06 45412213 Fax +39 06 45412288 investor.relations@caltagironeeditore.com 23

Caltagirone Editore — Investor Presentation (May 2005) on 6ix