Caltagirone Editore S.p.a. · MIL:CED

Caltagirone Editore — Non-Deal Roadshow (November 2000)

18 slides from Caltagirone Editore's roadshow presentation, November 2000

  1. Slide 1: November 2000

    November 2000

  2. Slide 2: Agenda

    Agenda ■ Company overview ■ Financial Results 2000 2

  3. Slide 3: Company overview

    CEd Company overview 3

  4. Slide 4: Integrated Group with complementary areas of expertise

    Integrated Group with complementary areas of expertise Publishing Leader in the Center and South of Italy, covering 25% of Italian population ■ 1,350,000 daily readers ■ 828,000 daily readers ■ 4th in Italy ■ 8th in Italy ■ Leader in Lazio with a 47.2% market share ■ Leader in Campania with 62.8% ma

  5. Slide 5: Nation-wide presence with strong focus in the Macroregion

    Nation-wide presence with strong focus in the “Macroregion” Top 10 Italian dailies1 Ÿ 44.1% market share 1999 average no. of daily readers (‘000) in the Macroregion Corriere della Sera Ÿ Macroregion 2,738 accounting for 25% La Repubblica 2,685 of population and 20% of readers La Stampa 1,645 Il Mess

  6. Slide 6: Dominant player in the Macroregion

    Dominant player in the Macroregion Percentage market share 1999 Il Messaggero + Il Mattino 44,1% ■ 47.2% market La Repubblica 18,3% share in Lazio Corriere della Sera 9,2% Il Tempo 7,9% ■ 62.8% market share in Campania 100% = avg. no. of readers per day in the Macroregion = 4.7 mm Source: Audipress

  7. Slide 7: CEd has consistently outperformed the market both in readership ...

    Ced has consistently outperformed the market both in readership ... Average no. of readers per day in 1997-1999 CAGR +1.8% +0.8% 1997-1999 -4.0% -4.0% (Million readers) (Million readers) CEd C E d in the Macroregion Total Italy Total Macroregion 2,18 24,60 2,10 22,86 22,67 2,07 2,05 2,02 1,96 5,05 4

  8. Slide 8: ... and advertising growth

    ... and advertising growth A must for national and local advertisers +21.6% CAGR 1997-1999 +11.5% CEd dailies ad revenues euro mm Total ad on Italian dailies euro mm 136 1.480 104 1.336 92 1.190 1997 1998 1999 1997 1998 1999 Ÿ Outperforming sector growth 2-to-1 by leveraging on competitive strength

  9. Slide 9: Best positioned to benefit from expected expansion of the Italian ad market

    Best positioned to benefit from expected expansion of the Italian ad market Advertising spend in Europe Italian Advertising Market % of GDP euro mm Dailies Other Press TV, radio, other media 4.664 UK 4.236 1,10% 3.833 Germany 1,00% Europe avg 0,88% 1.336 1.480 1.190 995 1.084 1.180 France 0,70% Ital

  10. Slide 10: Strong profitability and cash flow generation

    Strong profitability and cash flow generation Publicly traded publishing companies CEd Group’s cash EBITDA margin 1999 EBIT margin 1999 earnings 1 (euro mm) Class 32.6% Editori 26.8% Caltagirone 29.1% Editore 22.1% 16.8% L'Espresso 10.8% 37,5 Mondadori 14.5% 27,9 7.2% 24,4 Poligrafici 6.5% Editorial

  11. Slide 11: A successful turnaround story

    A successfull turnaround story • Caltagirone • Turnaround and return to stromg profitability of • Ready toexploit acquires Il publishing activities content on multi Messaggero - media platform ACTIONS • Strict cost control and Il Mattino • Integrated • Advertising growth group • Integration of opera

  12. Slide 12: Strategic goals

    Strategic goals ■ Consolidated further its leadership in the Macroregion ■ Enhance local content Production ■ Take full advantage from extensive customer base (2.2 mm readers) ■ Expand in contiguous markets in Italy ■ Strengthen leading position through internal and external growth ■ Leverage on adv

  13. Slide 13: Financial Results

    CEd Financial Results 13

  14. Slide 14: CEd 1st Half '00 Margins

    Ced 1st HALF ‘00 MARGINS FINANCIAL RESULTS (mm euro) 1st H ‘99 1st H ‘00 00/99 Revenues 105.32 121.25 + 15% Operating costs 77.17 80.27 + 4% EBITDA 28.15 40.98 + 45% 14

  15. Slide 15: Revenues

    REVENUES FINANCIAL RESULTS (mm euro) 1999 1st H ‘99 1st H ‘00 00/99 Advertising 136.4 67.8 83.9 + 23.8% • Il Messaggero 100.1 54.1 58.3 • Il Mattino 36.1 13.7 22.0 • Others 0.2 3.6 Circulation 70.8 34.5 34.4 - 0.2% • Il Messaggero 52.2 25.6 24.7 • Il Mattino 18.6 8.9 9.8 Other revenues 3.6 3.0 2.9 -

  16. Slide 16: EBITDA

    EBITDA FINANCIAL RESULTS % margin on tot. revenue 35% 33% 30% 28% 25% 1 H 99 1999 apr-00 1 H 00 16

  17. Slide 17: CEd 3rd Q '00 Margins

    CEd 3rd Q ‘00 MARGINS FINANCIAL RESULTS (mm euro) 30.09.99 30.09.00 30.09.00 00/99 (1) Revenues 149.37 170.10 170.02 13.8% Operating 112.51 121.61 119.50 6.21% Costs EBITDA 36.86 48.51 50.52 37.06% 1 without internet activities 17

  18. Slide 18: Expected end year results

    EXPECTED END YEAR RESULTS FINANCIAL RESULTS n CEd estimates that: n Revenues will exceed budget expectations n Margins will exceed budget expectations 18

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