Gmm Grammy Public Co. Ltd. · SET:GRAMMY
Gmm Grammy Public — FY2008 Earnings Presentation
20 slides from Gmm Grammy Public's earnings presentation, Mar 4, 2009
Slide 1: 2008 Performance Review
2008 Performance Review Analyst Meeting No. 1/2009 4 March 2009 1 Disclaimer Any statements contained in this document that are not historical facts are forward-looking statements. Words such as “believe”, “estimate”, “intend”, “may”, “will”, “expect” and “project” and similar expressions as they re
Slide 2: Revenue Contribution and GRAMMY Performance
Revenue Contribution 2008 Movie Others Artist 3% 5% Concert Management Radio 10% Intellectual 16% 19% Publishing Property 7% Music 10% Media Record & TV 47% 45% Distribution 41% 47% E-Business 17% Event Mgt 33% 2007 Others Artist Radio 5% Concert Management 21% 8% 15% Publishing Intellectual TV 9% M
Slide 3: GMMM Performance and Outlook Show Biz in 1H09
GMMM Performance GMMM 2007 2008 YoY Radio 618 691 12% TV 1,279 1,535 20% Publishing 231 217 -6% Event 921 1,126 22% Others 238 302 27% Total Revenue 3,287 3,872 18% EBITDA 548 640 24% Net Profit 216 284 32% GP Margin 41% 41% Operating Margin 16% 17% EBITDA Margin 12% 14% Net Margin 7% 7% 5 Outlook S
Slide 4: Music Business
1. Music Business 2.Movie Business 3. Media Business 4. Summary 7 Music Business Bt million +4% 4,000 3,687 3,535 3,500 577 543 3,000 378 291 2,500 2,000 1,500 2,701 2,732 1,000 Quarterly Breakdown 500 (Bt Million) 4Q07 3Q08 4Q08 Audio products 601 691 785 0 Concerts 77 191 102 Artist Mgt 223 120 17
Slide 5: Recording Business
Recording Business Bt Million Margin -18% 3,000 60% 50% 53% 2,500 50% 2,137 2,000 1,754 40% 1,500 30% 1062 931 1,000 20% 500 10% (Bt Million) 4Q07 3Q08 4Q08 Revenue 700 565 372 0 0% Gross Profit 325 236 242 Y2007 Y2008 Gross Margin 46% 42% 65% Revenue Gross Profit Gross Margin No. of albums released
Slide 6: Digital Business
Digital Business Year 2008 Bt Million Margin + 46% • Digital Music continue to show 700 70% improve trend from : 611 600 55% 60% • Subscription Model : Happy 500 50% Vampire with DTAC launched 48% 419 on 7 August 2008 400 40% • IVR 1900 291 300 30% 231 Year 2009 200 20% • Launching *123 calling GRAM
Slide 7: Clean Karaoke and Show biz
Clean Karaoke + 6% Bt Million Margin 180 50% 165.00 155.25 150 40% 120 109.98 30% 90 16% 20% 60 17% 27.56 10% 30 0 0% Y2007 Y2008 Revenue Gross Profit Gross Margin 13 Show biz Bt Million Margin 400 28% + 17% 30% 323 300 276 20% 20% 200 10% 100 78 66 0 0% • No. of Large Scale Concert in 2006 = 11 • N
Slide 8: Artist Management and Outlook - Music
Artist Management Bt Million Margin +9% ~ 289 artist Units 550 511 25% • 197 Singers 500 469 • 79 Actors / Actress 21% 450 • 9 Artist Acadamy 20% • 4 Agencies 18% 400 350 15% 300 250 10% 200 150 97 93 5% 100 (Bt Million) 4Q07 3Q08 4Q08 50 Revenue 148 114 145 0 0% Gross Profit 28 20 29 Y2007 Y2008 Gr
Slide 9: Movies – Market Share in 2008
1. Music Business 2.Movie Business 3. Media Business 4. Summary 17 Movies – Market Share in 2008 Top 10 Box Office for Thai movies 2008 เฉลี่ยตอเรื่อง Distributor เขาฉาย Total (M.) (M Baht) สหมงคลฟลม 15 392.50 26.17 Name THB (Mil.) Distributor GTH 5 247.74 49.55 พระนครฟลม องคบาก 2 96.40 สหมงค
Slide 10: Movies Performance and Outlook
Movies Performance • Year 2007 : 5 movies released Bt Million Margin Final Score Alone 550 30% Toosie 500 Sai Lub 23% Body ศพ # 19 450 410 400 20% • Year 2008 : 5 movies released 344 20% 350 300 กอด ปดเทอมใหญ หัวใจวาวุน 250 สี่แพรง 200 10% รัก สาม เศรา 150 95 โปรแกรมหนา วิญญาณอาฆาต 100 70 50
Slide 11: Radio Revenue Contribution
1. Music Business 2.Movie Business 3. Media Business 4. Summary 21 Radio Revenue Contribution 100% 80% 53% 52% 50% 60% 40% 16% 16% 17% 13% 16% 17% 20% 17% 16% 16% 0% 2% 2006 2007 2008 88.0 Buzz Station 91.5 Hot Wave 93.5/94.0 FM 89.0 Banana FM 106.5 Green Wave 22 11
Slide 12: Radio Performance
Radio Performance Bt Million Margin 1,200 80% 15% •More focus on 4 radio stations •Stronger brands especially 900 56% 885 60% 94 EFM 54% 767 •In Jan 2009, Rebranding 2 radio stations as follow 600 40% •91.5 Hot Wave Æ Hot FM 476 •89.0 Banana FM Æ Chill FM 433 300 20% (Bt Million) 4Q07 3Q08 4Q08 Reve
Slide 13: TV Airtime by Program Type and Channel
TV Airtime by Type of Program Minutes per week 2,385 2,395 2,500 2,280 535 600 2,000 480 160 55 150 1,500 505 630 Variety 810 Game Show Drama 1,000 Music 1,185 1110 500 840 0 2006 2007 2008 Total 35 hrs 45 mins 36 hrs 10 mins 33 hrs 15 mins Scenario 4 hrs 3 hrs 45 mins 4 hrs 45 mins 25 Grand total 3
Slide 14: TV Performance
TV Performance Bt Million Margin 1,800 24% 50% 1,652 1,600 1,400 1,337 40% 32% 32% 1,200 30% 1,000 800 20% 600 530 430 (Bt Million) 4Q07 3Q08 4Q08 400 10% Revenue 348 363 426 200 Gross Profit 103 106 105 0 0% Gross Margin 30% 29% 25% 2007 2008 Revenue Gross Profit Gross Margin 27 28 14
Slide 15: Publishing Revenue Contribution by Magazine
Revenue Contribution including pocket book 100% 16% 13% 19% 80% 43% 33% Pocket Book 43% 60% Image In Magazine Maxim 40% 13% 17% 10% Herworld 12% Madame figaro 14% 13% 20% 8% 7% 8% 12% 11% 10% 0% 2006 2007 2008 29 Revenue Contribution by Magazine 100% 80% 41% 51% 49% 60% Image In Magazine 21% Maxim 1
Slide 16: Publishing and Event Management Performance
Publishing Performance Bt Million Margin 450 -9% 80% 400 350 54% 60% 55% 300 267 243 250 40% 200 145 134 150 100 20% 50 (Bt Million) 4Q07 3Q08 4Q08 0 0% Revenue 77 55 69 2007 2008 Gross Profit 43 31 40 Revenue Gross Profit Gross Margin Gross Margin 55% 56% 57% 31 Event Management Performance Year 20
Slide 17: GMM Grammy
1. Music Business 2. Movie Business 3. Media Business 4. Summary 33 GMM Grammy Bt Million Margin 8,000 7,835 12% 7,317 7,000 6,427 6,313 10% 9% 6,000 8% 5,000 7% 4,000 6% 3,000 3% 4% 3% 2,000 2% 1,000 502 705 204 209 0 0% 4Q07 3Q08 4Q08 2005 2006 2007 2008 Revenue 2,165 2,139 2,006 Revenue Net Profi
Slide 18: GMM Media and Long Term Growth
GMM Media Bt Million Margin 4,000 3,900 45% 3,318 40% 3,000 2,855 35% 2,749 30% 25% 2,000 20% 15% 1,000 8% 10% 7% 5% 7% 229 216 284 5% 143 0 0% (Bt Million) 4Q07 3Q08 4Q08 2005 2006 2007 2008 Revenue 1,024 1,116 942 Revenue Net Profit Net Margin Net Profit 57 72 48 Net Margin 6% 6% 5%35 Long Term Gr
Slide 19: Attractive Dividend Yield and Balance Sheet
Attractive Dividend Yield GMM GRAMMY 2002 2003 2004 2005 2006 2007 2008 Dividend Payment Bt 2.00 Bt 1.10 Bt 1.25 Bt 0.35 Bt 0.40 Bt 0.65 Bt 1.25 Dividend Yield* 12.3% 5.3% 7.1% 2.80% 5.6% 6% 13.23% Dividend Payout Ratio 149% 103% 87% 85.22% 93% 69% 90.6% GMM MEDIA 2002 2003 2004 2005 2006 2007 2008
Slide 20: GMMM Balance Sheet
GMMM Balance Sheet Balance Sheet (MB) 2007 2008 Cash and cash equivalent 250.24 310.32 Long-term investment 935.63 990.50 PPE-net 483.44 577.07 Total Asset 2,953.42 3,313.58 Bank Loan 966.51 1,069.14 Other liabilities 744.09 910.73 Total Liabilities 1,710.60 1,979.87 Minority 299.65 349.05 Sharehold