Slide 1: 2007 Annual Results
C CALTAGIRONE EDITORE 2007 Annual Results May 2008
Slide 2: Disclaimer
Disclaimer This document has been prepared by Caltagirone Editore S.p.A. for information purposes only and it is not intended as an offer or solicitation of an offer to purchase or sell any financial instrument. Any forward-looking statement on Group performance has not been independently verified a
Slide 3: Agenda
Agenda The Group N. 2 in the domestic market The Group: traditional newspapers and free press Traditional newspapers Traditional newspapers Newspapers advertising market The first 15 Italian newspapers Regional leadership Leadership in the Centre and North East of Italy Free Pres
Slide 4: The Group: N.2 in the domestic market
The Group: N.2 in the domestic market Caltagirone Editore is the 2nd Italian publishing group with 24.43% share of average daily readers (1) Data in thousands Daily readers 6,005 Daily readers 5,570 Daily readers 4,608 26,34% Daily readers 24,43% 2,312 20,21% 10,14% Gruppo Editoriale L’Espresso (1)
Slide 5: The Group: traditional newspapers and free press
The Group: traditional newspapers and free press Traditional Free Press Advertising newspapers (1) Il Messaggero Circulation 215.633 Readership 1.289.000 Advertising agency for the 2.262.000 daily readers (2) Group Il Mattino Over 27 million of Euro of Circulation 81.994 advertising reven
Slide 6: Traditional newspapers
Traditional newspapers 6
Slide 7: Traditional newspapers
Traditional newspapers National newspaper with 13 local editions Avg. 54 pages up to maximum 72 pages full color National newspaper with 8 local editions Avg. 52 pages up to maximum 64 pages, of which 40 in color National newspaper with 9 local editions Avg. 48 pages up to maximum 64 pag
Slide 8: Newspaper advertising market
Newspaper advertising market (1) In 2007 both national and local advertising market was stable € thousands 1,770 1,800 1,773 1,728 1,679 1,720 951 912 952 972 878 976 441 458 473 478 498 466 2002 2003 2004 2005 2006 2007 National Commercial Local Commercial Newspapers (1) Source: Nielsen Media Resea
Slide 9: The first 15 Italian newspapers
The first 15 Italian newspapers (1) CED is the 2nd Italian Group by readers, with 4 titles among the first 15 La Repubblica 2991 Il Corriere della Sera 2722 Leggo 2262 City 1886 Metro 1839 La Stampa 1384 Il Messaggero 1289 Il Resto del Carlino 1180 Epolis 832 La Nazione 827 Il Mattino 681 Il Gazzett
Slide 10: CED has a strong local leadership
CED has a strong local leadership (1) READERSHIP IN VENETO Regions in which CED is leader 40.3% Considerable presence (> 10%) Leggo’s presence (> 4%) (2) Caltagirone Editore 40,3% Gr. Espresso-Repubblica 31,7% Athesis 28,3% Rcs 13,7% READERSHIP IN LAZIO 61.4% 0,0% 5,0% 10,0% 15,0% 20,0% 25,0% 30,0%
Slide 11: Leadership in the Centre and North East of Italy
Leadership in the Centre and North East of Italy Group newspapers have an absolute leadership in the central southern regions and in the North East of Italy (1) READERSHIP IN THE MACROREGION (2) 54.6% READERSHIP IN VENETO 40.3% (3) Caltagirone 54,6% Editore Caltagirone 40,3% Editore Rcs 22,6% Gr. Es
Slide 12: Free Press
Free Press 12
Slide 13: Free Press: Leggo is the 1st free newspaper in Italy
Free Press: Leggo is the 1st free newspaper in Italy with 2,262,000 avg daily readers in 9 regions (1) LOMBARDY 633,000 avg. daily readers VENETO PIEMONTE Como Bergamo 270,000 avg. daily readers Varese Verona 264,000 avg. daily readers Torino Venezia / Mestre Brescia Milano Padova EMILIA ROMAGNA 147
Slide 14: N.1 in the domestic market
N.1 in the domestic market Leggo is leader in the free press market with 37.8% share, 20% of avg. daily readers more than City and 23% more than Metro (1) Avg. daily readers 2,262,000 1,839,000 1,886,000 Metro City Leggo (1) Source: Audipress 2007/II 14
Slide 15: Financial highlights
Financial highlights 15
Slide 16: Profitability over time
Profitability over time 2001 - 2003 2004 - 2005 • Sharp domestic advertising • Slight increase in local 1997 - 2000 decline advertising market • Strong advertising increase • Further improvement in • Leggo adv. revenue increase • Reorganization of activities and efficiency through labor and successf
Slide 17: Il Gazzettino restructuring
Il Gazzettino restructuring (1) Restructuring plan showed important results Improvement of all economic and patrimonial ratios and convergence to Group margins Reduction in the personnel overhead costs of approximately euro 3 million per year following the reduction of 43 employees in Centro Sta
Slide 18: Financial highlights
Financial highlights Advertising is the main revenue driver Circulation Prodotti collaterali Advertising Internet & Services Others 9,5 6,0 4,2 8,4 8,7 8,1 4,4 3,6 6,3 4,0 € millions 4,0 5,0 2,5 4,0 2,0 3,0 2,0 211 5,0 192 106 136 165 152 153 164 175 178 11 20 11 15 16 78 92 72 71 69 68 67 67 68 69
Slide 19: Financial highlights: full year 2007
Financial highlights: full year 2007 Gazzettino Euro thousands 2007 (1) 2007 2006 ∆% Group Although promotion revenues Circulation 88,336 14,257 102,593 98,450 4.2% halved (€ 9.4m), sales of newpapers improved thanks to increased cover Advertising 195,249 15,403 210,652 192,233 9.6% price (€ 1 sin
Slide 20: Financial highlights 2007
Financial highlights 2007 Circulation revenues (Euro thousands) 2007 2006 ∆% Circulation 91,805 78,266 17.3% Promotions 10,788 20,184 -46.6% • Il Messaggero 5,449 12,478 -56.3% • Il Mattino 1,660 4,053 -59.0% • Corriere Adriatico 302 942 -67.9% • Quotidiano di Puglia 80 217 -63.1% • Il Gazzettino 3,
Slide 21: Financial highlights 2007
Financial highlights 2007 Net Financial Position on December 31st, 2007 31.12.07 31.12.06 € 27.4 € 25 € 18.3 Net Operating Cash Flow Dividend Extraordinary distributed Cash Flow (1) € 311.1 € 290.4 (1) Including capital gains from disposal of the stakes of Banca Monte dei Paschi (€ 14.6m) and B2Win
Slide 22: Appendix
Appendix 22
Slide 23: Main shareholders
Main shareholders FREE FLOAT 29,8% GAETANO CALTAGIRONE 2,4% FRANCESCO GAETANO EDIZIONE HOLDING CALTAGIRONE (1) 2,24% 65,6% N° of ordinary shares: 125,000,000 Market capitalization: € 505 millions (2) (1) Directly and indirectly through controlled companies (2) As of April 7, 2008 23
Slide 24: Caltagirone Spa
Caltagirone Spa ¾ Caltagirone Spa is a holding company which controls three different subsidiaries active in the cement, media and construction industries ¾ 2007 consolidated sales achieved around € 1.7 bn ¾ The Group structure is the following: Mkt cap: cap: € 625m (a) 66.7% (b) 56.5% (c) 31.7% 35.
Slide 25: Investor Relations
INVESTOR RELATIONS E-mail: investor.relations@caltagironeeditore.com Tel. +39 06 32493227 Fax +39 06 32493277 www.caltagironeeditore.com 25