VII Seminario de Media GESTEVISION TELECINCO S.A.

Anuncio
GESTEVISION TELECINCO S.A.
VII Seminario de Media
19 de enero de 2010
1
GROUP
9M09
9M08
VAR. %
Total Net Revenues (€ mn)
432.2
734.9
-41.2%
Total Operating Costs
343.3
405.5
-15.3%
EBITDA adj.* (€ mn)
89.0
329.4
-73.0%
20.6%
44.8%
82.5
324.3
19.1%
44.1%
Net Profit Reported (€ mn)
62.2
228.4
-72.8%
Net Profit Adjusted** (€ mn)
78.5
242.4
-67.6%
FCF (€ mn)
70.0
283.6
-75.3%
16.2%
38.6%
(€million)
EBITDA adj/Net Revenues
EBIT (€ mn)
EBIT/Net Revenues
Audience Share, Jan 1st – December 31st 2009
16.4%
15.1%
14.7%
13.9%
-74.6%
24 h Total Individuals
FCF/Total Net Revenues
Net Cash Position
-176.9
-51.1
16.7%
16.2%
PT 20:30 Total Individuals
Audience Share Commercial Target, Jan 1st – December 31st 2009
15.5%
16.4%
15.3%
14.9%
n.a.
13.8%
14.4%
* After the rights consumption
** Excluding the Net Impact of the amortization of the PPA of Endemol
NINE MONTHS 2009
HIGHLIGHTS
24 h Commercial Target
PT 20:30 Commercial Target
Sources: SOFRES
2
3
BROADCASTING
Minutes
Thousands
235
7,200
230
6,700
225
220
6,200
215
5,700
210
205
5,200
200
4,700
195
190
4,200
Years
Yr 1995
Yr 1996
Yr 1997
Yr 1998
Yr 1999
Yr 2000
Yr 2001
Yr 2002
Yr 2003
Yr 2004
Yr 2005
Yr 2006
Yr 2007
Yr 2008
Yr 2009
Minutes
Thousands
211
214
209
210
213
210
208
211
213
218
217
217
223
227
227
5,343
5,445
5,493
5,584
5,678
5,639
5,660
5,754
5,824
6,167
6,205
6,270
6,502
6,688
6,890
Yr
Yr
Yr
Yr
Yr
Yr
Yr
Yr
Yr
Yr
Yr
Yr
Yr
Yr
Yr
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Stable TV Consumption in 2009 vs
2008 per minutes but increasing
by number of viewers
Sources: SOFRES
4
BROADCASTING
January 1st – December 31st 2009
16.2%
15.1%
14.7%
Audience 24h & Prime Time (20:30),
Total Individuals
16.4% 16.7%
13.9%13.2% 13.7%
8.2% 8.7%
10.2% 9.4%
6.8%
7.5%
7.5% 6.9%
Tem.
Pay
-3.0
-3.8
-0.9
-1.3 -1.3
-0.7
-0.4
-0.8
+1.3 +2.0
+5.1 +4.6
-0.4
-0.6
3.8% 3.1%
3.9% 3.8%
Other
+0.7 +0.7
-0.7 +0.7
-0.5 +0.5
Vs. 2008
Audience 24h
Audience Prime Time (20:30)
Audience 24h & Prime Time (20:30),
Commercial Target*
16.4%
15.3%
15.5%
14.9%
13.8% 14.4%
10.5% 11.1%10.4% 11.0%
9.8% 8.9%
8.4% 8.6%
9.0% 8.3%
Tem.
Pay
-4.1
-5.1
-1.2
-0.8
-0.5 -0.2
0.0 -0.5
+1.5 +2.1
In 2009, TL5 is leader between
the commercial channels.
+4.8 +4.1
-0.8 -0.8
3.6% 3.1%
3.8% 3.3%
Other
+0.8 +0.7
+0.3 +1.3
-0.8 -0.8
* Commercial target: Audience group
comprising of individuals from 16 to 59 living
in communities of over 10,000 inhabitants
and across middle and upper social classes
Sources: SOFRES
5
BROADCASTING
January 1st – December 31st 2009
Thematic Thematic
TDT
Pay
Total individuos
Telecinco
Antena 3
FORTA
Cuatro
La Sexta
Total Day
15.1
14.7
13.2
8.2
6.8
10.2
Morning
14.1
15.6
11.8
6.3
5.1
Afternoon
12.5
15.7
15.1
8.8
Evening
14.7
14.8
13.0
PT 20:30
16.2
13.9
Late night
20.3
Daytime
14.5
Total individuals Telecinco
Locals
TVE1
La 2
7.5
3.9
16.4
3.8
15.1
9.1
4.1
14.4
4.3
7.4
8.1
5.9
3.1
18.8
4.5
6.9
6.8
10.1
8.4
3.9
17.1
4.2
13.7
8.7
7.5
9.4
6.9
3.8
16.7
3.1
15.5
10.4
10.4
6.6
9.9
7.5
4.8
12.0
2.8
15.1
13.0
8.0
6.5
10.6
7.8
4.0
16.3
4.2
Antena 3
FORTA
Cuatro
La Sexta
Thematic Thematic
TDT
Pay
Locals
TVE1
La 2
TC
15.5
15.3
10.5
10.4
8.4
9.4
9.0
3.8
13.8
3.6
Men
12.5
13.4
13.7
8.7
8.2
11.1
8.3
4.2
15.5
4.4
Women
17.2
15.8
12.8
7.9
5.6
9.5
6.9
3.9
17.2
3.4
4 - 12
8.3
13.7
9.7
6.8
4.1
29.3
12.3
3.7
8.6
3.5
13 - 24
13.9
18.3
9.7
12.6
8.3
12.2
8.3
3.5
10.3
2.7
25 - 34
14.7
15.6
9.2
12.0
9.1
11.2
8.9
3.6
12.2
3.6
35 - 54
15.3
15.0
11.9
9.2
7.8
9.6
8.5
3.7
15.3
3.7
55 - 64
16.8
14.1
15.8
6.5
6.0
7.7
6.1
4.1
18.8
4.2
+64
16.1
13.1
18.0
4.5
4.8
6.6
4.8
4.5
23.2
4.3
2009 Audience share: slots of the
day and population
Sources: SOFRES
6
BROADCASTING
January 1st – December 31st 2009
-4.6%
17.3
17
16
16.5
2.6%
15.6
15.2
15.1
-9.8%
15.6
15.3 15.2
14.7
15
16.1
14.7
13.8
14
13
12
11
10
TL5
1 Quarter 09
A3
2 Quarter 09
TVE1
3 Quarter 09
2009 Audience per quarter: Telecinco is the
only big channel improving its audience
during the last quarter of the year
4 Quarter 09
Sources: SOFRES
7
DIGITAL TELEVISION
Analogical Channel's' Simulcast
Exclusive DTT Channles
DTT Audience share
52.7%
50%
40.2%
40%
30%
20%
21.9%
23.8%
28.7%
26.0% 27.3%
8.4%
7.6% 7.9%
6.9%
6.4%
31.9%
8.9%
35.3%
10.1%
12.5%
43.4%
45.6% 47.0%
13.1%
13.5% 13.4%
49.1%
13.3%
13.8%
38.9%
33.9% 35.8%
32.2%
29.9%
27.7%
23.0% 25.2%
20.3%
10%
19.4%
15.5% 17.0% 18.4%
0%
TL5 started its new digital
strategy in august
1.6
1.4
1.2
1.0
0.8
Technical Coverage: 93%
Household Penetration: 74.7% (Source: SOFRES)
Equipment: 24,192,885 units sold
0.6
0.4
0.2
Jan09
Feb09
Mar- Apr-09 May09
09
Jun- Jul-09 Aug09
09
Sep- Oct-09 Nov09
09
Sources: SOFRES
Dec09
8
9
BROADCASTING
September 1st – December 31st 2009
Audience 24h & Prime Time (20:30),
Total Individuals
15.4%
16.3%
15.0% 13.8%
13.4%12.5%
17.5%
13.3%
11.8% 10.8%
7.7%
7.4% 6.8%
8.1%
6.7%
7.4%
4.9%
Tem.
Pay
4.8%
3.5% 3.0%
Other
Audience 24h
Audience Prime Time (20:30)
15.9% 15.2%
Audience 24h & Prime Time (20:30),
Commercial Target*
15.5%
14.0%
14.1%
14.0%
9.9%
10.8%
9.7%
11.0% 9.9%
10.3%
8.3%
8.8% 8.1%
8.6%
5.0%
Tem.
Pay
In the new season, TL5 is leader
between the commercial channels.
4.6%
3.3% 3.0%
Other
* Commercial target: Audience group
comprising of individuals from 16 to 59 living
in communities of over 10,000 inhabitants
and across middle and upper social classes
Sources: SOFRES
10
BROADCASTING
September 1st – December 31st 2009
Audience Prime Time Total Individuals
Audience 24h Total Individuals
0.6%
0.5%
0.6%
1.6%
2.2%
0.0%
0.7%
0.9%
3.5%
3.0%
0.0%
0.8%
0.8%
0.8%
1.4%
0.9%
1.5%
0.1% 0.2%
15.5%
13.8%
0.2%
16.3%
0.4%
15.2%
17.0%
16.0%
8.3%
0.1%
17.5%
13.4%
0.1%
7.7%
0.5%
8.1%
7.4%
6.7%
6.8%
23.2%
TL5 is leader in the multichannel
environment.
16.6%
15.8%
8.5%
7.5%
Sources: SOFRES
23.1%
11
INTERNET
Nº1 page among the others broadcaster’s webs
September 09 Unique Users* Page viewed*
1 Telecinco.es
2 RTVE.es
3 Antena3tv.com
6.71
4.46
3.13
24%
10%
-6%
132.21 50%
69.46 24%
59.27 -16%
Average
minutes*
07:04 13%
23:59 107%
07:51
-6%
Nº4 web in the ranking of the media companies
September 09 Unique Users* Page viewed*
1
2
3
4
5
El Mundo
Marca.com
20Minutos.es
Telecinco.es
Sport.es
23.74
19.94
9.18
6.71
5.03
10%
4%
5%
24%
-7%
393.93 7%
499.42 11%
99.35 -7%
132.21 50%
92.62 -18%
Average
minutes*
08:17
2%
09:14 22%
06:13
-9%
07:04 13%
05:14 11%
At September 2009 Telecinco
improves its records of single
users and viewed pages.
Page Viewed
132.2
Unic Users
+58%
6.7
+76%
83.7
3.8
2008 **
2009 **
2008 **
2009**
Source: Nielsen Online (data obtained with Country
Market Intelligence), audited by OJD
*September Data in million and % versus June 2009
** Data of the month of September
Aim achieved: a leader
website with its own identity
12
13
ADVERTISING
Advertising Revenues, Nine Months 2009
Special Initiative’s share on 9M09 Telecinco
Gross Advertising Revenues 16.6%
Gross TV Advertising Revenues
(million €)
Special Initiatives
(million €)
-41.6%
-40.8%
695.8
113.7
406.5
67.3
(€ millions)
9M08
9M09
9M08
9M09
Commercial Strategy, 9M2009
Audience Share
%
15.0%
SECONDS
GRP’s (20”)
%
%
%
-18.5%
+3.6%
-17.0%
C/GRP’s (20”)
%
-30.2%
TV gross Adv.
Revenues
€ Mill.
406.5
%
-41.6%
Source: TNS & Publiespaña
TL5 TV advertising revenues
14
ADVERTISING
TV advertising market by sectors
Sector Breakdown
Sector Growth
(% on total Adv sales)
(9M09 vs. 9M08)
Finance
Retail
Telecos
Automotive
7.5
9.3
10.0
20.5
Retail
-11.5%
Health & Beauty
-13.9%
Finance
-23.2%
9.8
9M09
22.8
Food
Other
20.1
Food
-23.6%
Telecos
-26.0%
Other
-36.3%
Automotive
-48.8%
Health & Beauty
TV Advertising Market
by Sectors at 9M09
Source: Publiespaña
15
ADVERTISING
POWER RATIO LEADER
LUN ES 19
Power ratio
including Digital
channels
M A RTES 2 0
M IER COLES 2 1
JUEV ES 2 2
LU N2 ES
SÁB ADO
4 26
V IER NES 2 3
A RINGO
T ES 22 75
DMOM
M IER C OLES 2 8
JU EV ES 2 9
EL C OLEC C ION IST A ( D E IM Á GEN ES)
FUSIÓN SONORA
V IER N ES 3 0
D OM IN GO 0 LU
1 NES 2 6
SA B A D O 3 1
M ÁS QU E COC HES GT
IN FOR M A TIV OS TELECINCO
Power ratio of
Telecinco
SEN SA C IÓN D E
SEN SAC IÓN DE V IV IR
V IV IR
72
ED EL & ST A R C K
GRAN HERM AN O
DIARIO ®
D IA RIO ®
GRA N HERM ANO
GR AN HERM ANO
GRAN HERM A NO
GRAN HERM AN O
GRA N HERM ANO
GRAN HERM AN O
®
D IA RIO
DIARIO
D IAR IO
DIARIO
DIARIO
DIARIO
GR AN HERM ANO
®
®
®
®
®
®
DIARIO
GRA N HERM ANO
GR AN HERM ANO
GRAN HERM A NO
GRAN HERM AN O
GRA N HERM ANO
GRAN HERM AN O
®
D IA RIO
DIARIO
D IAR IO
DIARIO
D IA RIO
DIARIO
GR AN HERM ANO
GUERR A DE SESOS
M A TCHGOLF
®
®
®
GUERRA DE SESOS
GUERR A DE SESOS
GUERRA D E SESOS
D IA RIO
GR AN HERM ANO
DIARIO
10 0 %SU N
SEN SA C IÓN D E V IV IR
SEN SA C IÓN D E
V IV IR
B OIN G
GUERR A DE SESOS
SEN SA C IÓN D E
V IV IR
+7
SEN SA C IÓN D E
V IV IR
+7
M AS QU E COCHES
IN SPEC T OR W OLF F
SEN SA C IÓN D E
V IV IR
+7
+7
+7
IN SPEC TOR W OLF F IN SPEC T OR W OLF F
+7
POLIC IA C R IM IN A L
+7
®
DEM OLICIÓN
( NUEV OS)
+13
IN SPEC
T ORAW
B RICOM
NÍOLF
A F
D ECOGA RDEN
GRA N HERM ANO
D IA RIO ®
®
B OIN G
B en 10
B en 10
A ct ivo s y A nimad o s
A ct ivo s y A nimado s
+7
POLIC IA C R IM IN A L POLIC IA C R IM IN A L
E CQUE
OLON
IA
T ÚDSÍ
V ALES
29®
D E C OLON IA
D E C OLON IA
D E C OLON IA
ED EL & ST A R C K
ED EL & STA R C K
ED EL & ST A R C K
ED EL & ST A R C K
+13
+13
+13
(ESTR ENO)
+13
M QC GT
B en 10
D ig imo n
B akug an
B akugan
B akug an
B akugan
DEM OLICIÓN
GRAN HERM AN O
D IA RIO ®
GRAN HERM AN O
B en 10 A lien F or ce
B en 10 A lien F or ce
B en 10 A lien F or ce
LA C ASA EN D IR ECT O LA CASA EN DIRECTO
T it euf
T it euf
T it euf
Sup ernenas
Sup er nenas
Sup ernenas
Sup er nenas
GR AN HERM ANO
DIARIO
B en 10 A lien F o rce
T it euf
M UJERES Y HOM B RES Y V ICEV ER SA
DOM INGO 0 1
GRAN HERM AN O
DIARIO ®
B en 10
POLIC Í A C R IN IN A L POLIC IA C R IM IN A L
D E C OLON IA
SA BADO 3 1
+13
EL T IEM PO / R EPORTEROSEL TIEM PO / REPOR TER OS
GRAN HERM A NO
DIAR IO ®
B akug an
SEN SA C IÓN D E
EL R EV IEN TAPR ECIOS +7
V IERNES 3 0
GR AN HERM ANO
DIARIO ®
A L SA LIR D E C LA SE
Po kemo n X
SENSA CIÓN DE V IV IR SEN SA C IÓN D E V IV IR
V IV IR
73
+7
IN SPEC T OR
I LOV E WTVOLF F
JU EV ES 2 9
LA C ASA EN D IR ECT O (+13 )
Las Sup ernenas
EL PROGRAM A D E A NA R OSA
M IER COLES 2 8
EL TIEM PO / REPORT EROS
GRA N HERM ANO
C mp ament o Laz lo
U n mo no en mi clase
HI HI PUFF
SU PERN ENA S
B EN 10
TITEU F II
AN GEL' S FRIEND S
POKEM ON X
SEN SA C IÓN D E
SEN SA C IÓN D E
BA
V IV IR KUGAN II
V IV IR
BEN 10 ALIEN FOR CE
1.70
M ART ES 2 7
B OIN G
BOIN G
A ng els f riend s
A ng els f riend s
A ct ivo s y A nimad o s
A ct ivo s y A nimado s
B en 10
D ig imo n
DIARIO
®
LA C ASA EN DIR ECT O
LA CASA EN DIRECTO
LA C ASA EN DIR ECT O
®
+13
LA CA SA EN DIRECTO
+13
LA CASA EN DIREC TO
EL BU SCA DOR
D E HISTOR IAS
KA RLOS A RGU IÑ ANO: EN TU C OC IN A
DE BUENA LEY
+7
A LIA S
INFORM ATIV OS
T ELECINC O
+7
A LIA S
INF ORM A TIV OS+7TELEC IN CO
7 V ID A S
+7
A LIA S
+7
7 V ID A S
+7
A LIA S
+7
7 V ID A S
+7
A LIA S
+7
7 V ID A S
C OLEC C ION IST A
+7
GRA N HERM ANO
GR AN HERM ANO
D IA RIO
DIARIO
®
®
7 V ID A S
GRAN HERM A NO
GRAN HERM AN O
GRA N HERM ANO
D IAR IO
DIARIO
D IA RIO
®
®
®
LASIET E NOT IC IAS
+7
A well performing medium/long term
strategy
C IN E ON
SÁLV A M E D IA RIO
+7
7 V ID A S
CINE ON
M ED IC O D E F A M ILIA
+7
7 V ID A S
V oces
Phenomenon
84'
+7
7 V ID A S
114 '
+7
7 V ID A S
M ÉD IC O D E F A M ILIA
+13
LA C ASA EN DIR ECT O
+7
M UJERES Y
HOM BRES
Y V ICEV ERSA
7 V ID A S
Y V ICEV ER SA
Y V ICEV ERSA
Y V IC EV ERSA
M UJERES Y
HOM BRES
Y V ICEV ERSA
GRA N HERM ANO
M UJERES Y HOM BR ES M U JER ES Y HOM BRES
M UJERES Y HOM BR ES
C OLEC C ION IST A
B OIN G
LOS SER R A N O
Est reno
1.60
U EFA EU ROPA
LEAGU E
3 er PAR TID O
S.S. Lazio Villareal CF
TOM A C ERO Y A JU GA R
(Especial pro grama 70 0 )
PASA PALA BRA
T OM A CER O Y A JUGA R
LOS SER R A N O
GRA N HERM ANO
Ed , Ed d & Ed d y
¿DÓN DE EST Á
M AR ISOL?
PREV IO
M I FAM ILIA C ONTR A
TODOS
4
GR AN HERM ANO
GRAN HERM A NO
GRAN HERM AN O
D IA RIO
DIARIO
D IAR IO
DIARIO
®
®
®
®
®
SÁLV AM E PIR ATA
SÁ LV A M E PIRAT A
Po kemo n X
B akug an
C OLEC C ION IST A
B en 10
(EST RENO)
B en 10
( M º Teresa Campo s)
SÁLV AM E DIA RIO
N ar ut o IV
PASA PALA BR A
D IA RIO
C OLEC C ION IST A
D IST R IT O D E POLIC Í A
D IST R IT O D E POLIC Í A
D IST R IT O D E POLIC Í A
D IST R IT O D E POLIC Í A
PASA PALA BRA
+13
C A SI Á N GELES
EL FRONTON
INF ORM AT IV OS TELEC IN CO
C Á M ER A C A F É
+7
G- 2 0
+7
G- 2 0
+7
+13
+13
G-2 0
+13
C Á M ER A C A F É
CSI M IAM I V II
14 9
TÚ SÍ QUE V ALES
+13
DE R EPENT E LOS GÓM EZ
2
31
LA NOR IA
9M09
SU E T HOM A S
+7
A ID A
38
01:11:37
+13
+18
M IENTR AS DU ERM ES
3
+7
+7
A ID A
7 V ID A S
39
19 0
+7
+7
1
+13
C .S.I.
+13
C .S.I. N .Y .
A R M Y W IV ES
+13
+7
+7
+13
G.H:LA CA SA EN DIRECTO 8
40
+7 GRAN HERM AN O:
+13
IC HOE
ELJER
DEBAT
7
18
8
+13
GALA
+13
4
16
+13
18 0
SÁ LV A M E
D ELUX E
HARPER' S ISLA ND
T Ú SÍ QUE V ALES
®
+13
+7
+13
F EAR FA CTOR
HARPER' S ISLA ND
A LEY EN DA DEL BUSC ADOR
®
+13
+7
G-2 0
+13
F EAR FA CTOR
+13
AGITA CIÓN + IV A
EL JU EGO
GRAN HERM AN O
DE TU V ID A
DIARIO
®
®
+7
EL C OLEC C ION IST A D E
IM Á GEN ES
C .S.I.
+13
G- 2 0
+13
LA CA SA EN DIRECTO
+13
+13 LA C ASA EN DIR ECT O
DE TU V ID A
LA CASA EN DIRECTO
G- 2 0 (+7)
®
LA CASA EN DIREC TO ( +13 )
Source: TNS and Publiespaña
TL5 multichannel grid during
the week October 16-25 2009
Building a competitive
multichannel edge
+13
EL JU EGO
LA CASA EN DIRECTO
LA S V EGA S ®
18 1
D IA RIO
+13
DEBATE
GR AN HERM ANO
+13
LA S V EGA S ®
BEC ARIOS
REPOR TER OS + EL TIEM PO
GRA N HERM ANO
( Est reno )
10 0
+13
A R M Y W IV ES
+7
A LEY EN DA DEL BUSC ADOR
D IAR IO
+18
C .S.I.
LA QU E SE A V EC IN A
Q.R.
+13
LASIET E NOT IC IA S + EL T IEM PO
GRAN HERM A NO
GR AN HERM ANO
DIARIO
EL A SESIN O D ELGRAN
PA R HERM
KIN G A NO
150
+13
LA CASA EN DIRECTO
19 2 GRA N HERM ANO
M IA M I
15
A LIA S ( QR )
A ID A
37
+7
7 V ID A S
D IA RIO
SIN T ETAS NO HAY
7 V ID A S
A L D ESC U B IER T O
PA RA Í SO
18 9
E R EPEN T E LOS GÓM ELA QU E SE A V EC IN A
8
01:16:09
( EST R EN O)
10
7( 3 5)
+7
FEA R F ACT OR
Q.R.
BECARIOS
+7
19 1
+13
R OJO Y NEGRO
9M09
C Á M ER A C A F É
SU E T HOM A S
+13
8
29
+13
CSI LAS V EGAS V III ®
178
+13
CSI LAS V EGAS V III ®
179
C Á M ER A C A F É
SU E T HOM A S
7 V ID A S
SU E T HOM A S
+7
SÁ LV AM E DELUX E
CSI NY ORK V
99
C Á M ER A C A F É
FIB RILAN DO
SU E T HOM A S
GRAN HERM AN O
+13
+13
FEAR FAC TOR
16
BROADCASTING
New Audiovisual Law
Current Situation
TV Licences
Advertising time
Product Placement
Pay DTT
5% Obligation
New Audiovisual Law
10 years
15 years automatically renewed
12min/h advertising with
limitation in number of breaks
per hour + 5min/h of other forms
of advertising
12min/h advertising without
limitation in number of breaks
per hour + 2min/h of
telepromotion
Not permitted
Permitted
One channel per multiplex
Up to 50% of the multiplex capacity
Obligation to invest 5% of
annual revenues in Spanish
(60%) and European (40%)
movies
Obligation to invest 5% of
annual revenues in movies (60%)
and TV Series (40%)
New audiovisual law, approved by the
Spanish parliament in January 2010 to
be ratified by the Senate
Sources: SOFRES
17
18
FINANCIAL RESULTS
9M09
9M08
VAR %
TOTAL NET REVENUES
432.2
734.9
-41.2%
TOTAL COSTS
349.8
410.6
-14.8%
59.3
63.3
-6.3%
Operating Costs
182.9
238.1
-23.2%
Amortizations & Depretiations
107.6
109.2
-1.5%
EBITDA (1)
89.0
329.4
-73.0%
EBIT
82.5
324.3
-74.6%
Pre-Tax Profit
58.5
292.4
-80.0%
Net Profit Reported
62.2
228.4
-72.8%
Net Profit Adjusted (2)
78.5
242.4
-67.6%
Personnel
EBITDA/ NET REVENUES
EBIT/ NET REVENUES
NET PROFIT Reported/ NET REVENUES
NET PROFIT Adjusted/ NET REVENUES
20.6%
19.1%
14.4%
18.2%
44.8%
44.1%
31.1%
33.0%
(1) Post-rights amortization
Consolidated Financial Results
(2) Excluding the net impact of the amortization of
the intangibles related to the PPA of Endemol
(€million)
19
FINANCIAL RESULTS
9M09
9M08
FX Effect in €
Organic
Growth in €
Net Consolidated Revenues
862.7
948.3
-8.7
-76.9
Gross Margin
241.6
277.2
-4.5
-31.1
EBITDA
209.9
162.1
-2.5
50.3
Net Profit*
-34.0
-90.1
-2.5
58.6
€ millions
* Net Profit includes an amortization charge of €-102m (€-72m net of tax credits) in relation to PPA intangible assets
Edam Group 9M09,
P&L Highlights
20
FINANCIAL RESULTS
9M09
9M08
Diff. in € million
Initial Cash Position
-25.9
13.2
-39.0
Free Cash Flow
70.0
283.6
-213.6
Cash Flow from Operations
195.4
355.0
-159.5
Net Investments
-135.8
-159.7
23.9
10.4
88.4
-78.0
Change in Equity
-2.8
-8.6
5.8
Financial Investments
-9.8
-23.4
13.6
Dividends received
1.8
1.6
0.2
Dividend payments
-210.3
-317.6
107.3
Total Net Cash Flow
-151.1
-64.3
-86.8
Final Cash Position
-176.9
-51.1
-125.8
Free Cash Flow/Total Net Revenues
16.2%
38.6%
Change in Net Working Capital
Consolidated Cash Flow
statement
(€million)
21
FINANCIAL RESULTS
EBITDA (in million €)
EBITDA/ NET REVENUES (in %)
366.2
NET PROFIT (in million €)
NET PROFIT/NET REVENUES (in %)
262.8
329.4
242.4
78.5
89.0
47.5%
44.8%
20.6%
9M07
9M08
9M09
34.1%
33.0%
18.2%
9M07
9M08 *
9M09 *
* Adjusted Net Profit: excludes the accounting impact
(after taxes) of the amortization of the intangibles
resulting from the PPA of the Endemol acquisition.
(€million)
Margins
22
FINANCIAL RESULTS
FREE CASH FLOW (€ million)
139.5%
89.2%
117.0%
366.5
262.8
FCF / NET REVENUES (in %)
47.5%
283.6
242.4
16.2%
38.6%
78.5
70.0
9M07
FCF
FCF generation
9M08
Net Profit Adjusted
9M09
FCF Conversion / NP Adjusted
(€million)
23
FINANCIAL RESULTS
Financial Position
Group Net Financial Position at 09/30/09: -€176.9
Net Financial Position*:
-€117.0
Use of the available credit lines %:
39.6%
Average use of credit lines in the year%:
23.5%
Debt ratio over Equity
0.37x
311.0
117.0
Equity
Strong financial position
DEBT
(€ millions)
*excluding intercompany long term loans
24
FINANCIAL RESULTS
€ 135.8 million
5.4
€ 159.7 million
3.2
4.4
42.2
40.3
53.2
9M09
9M08
74.0
72.9
TV Rights
TV Rights
Co-production
Tangible &
non-Fiction
Fiction
Distribution
Intangible Fixed Assets
Net Investments
25
Back Up slides
26
FINANCIAL RESULTS
9M09
9M08
VAR %
Gross Adv. Revenues
- Television
- Other
Discounts
Net Advertising Revenues
Other Revenues
414.5
406.5
8.0
-19.8
394.6
37.6
703.7
695.8
7.9
-32.9
670.8
64.1
-41.1%
-41.6%
1.1%
-39.7%
-41.2%
-41.3%
TOTAL NET REVENUES
432.2
734.9
-41.2%
Personnel
Rights Amortization
Other Operating Costs
Total Costs
59.3
101.1
182.9**
343.3
63.3
104.1
238.1***
405.5
-6.3%
-2.8%
-23.2%
-15.3%
329.4
-73.0%
EBITDA adj*
** Including the reversal of a provision for €34 million
*** Including the reversal of a provision for €5 million
Consolidated
Profit & Loss Account (I)
89.0
* Post-rights amortisation
(€million)
27
FINANCIAL RESULTS
9M09
9M08
VAR %
EBITDA adj*
89.0
329.4
-73.0%
Other Amortization & Depreciation
-6.5
-5.1
25.7%
EBIT
82.5
324.3
-74.6%
Equity Consolidated Results
-26.4
-30.0
-12.0%
Financial Results
2.3
-1.9
n.a.
EBT
58.5
292.4
-80.0%
Income taxes
0.0
-73.3
n.a.
Minority Interests
3.7
9.3
-60.2%
Net Profit reported
62.2
228.4
-72.8%
Net Profit adjusted**
78.5
242.4
-67.6%
*Post-rights amortisation
**Excluding the net impact of the Amortization of the intangibles
related to the PPA of Endemol
Consolidated
Profit & Loss Account (II)
(€million)
28
FINANCIAL RESULTS
9M09
9M08
2008
Fixed assets
-Financial
-Non Financial
Audiovisual Rights and Pre-payments
-TV, Third Party Rights
-TV, Spanish Fiction Rights
-Co-production / distribution
Pre-paid taxes
306.0
252.4
53.6
221.4
123.1
31.1
67.2
81.3
521.7
464.4
57.3
236.3
116.3
33.3
86.7
16.2
323.6
264.5
59.1
190.7
96.6
27.3
66.9
26.3
TOTAL NON-CURRENT ASSETS
Current assets
Financial investments and cash
TOTAL CURRENT ASSETS
608.7
124.8
12.3
137.1
774.1
175.4
10.7
186.0
540.7
251.8
35.1
286.9
TOTAL ASSETS
745.8
960.1
827.6
Shareholders' equity
Non-current provisions
Non-current payables
Non-current financial liabilities
TOTAL NON-CURRENT LIABILITIES
311.0
45.2
0.4
75.9
121.5
564.7
73.4
1.0
60.7
135.1
461.5
43.8
0.2
59.8
103.8
Current payables
Current financial liabilities
TOTAL CURRENT LIABILITIES
199.9
113.3
313.3
259.2
1.1
260.3
261.1
1.2
262.3
TOTAL LIABILITIES
745.8
960.1
827.6
Consolidated
Balance Sheet
(€million)
29
BROADCASTING
9M08
49.0
%
9M09
Programming Mix in 1H09; January 1st – September 30th 2009
In-House Production vs. Library in terms of broadcasting hours
51.0
%
46.7%
Live
53.3%
Recorded
47.6%
Productions with
Independent
Companies
In-house production
85.6%
84.6%
27.9%
24.5%
14.4%
15.4%
Produced by
Atlas & Telecinco
Productions
with Participating
Companies
Endemol
La fábrica de la Tele
Mandarina
9M08
Third party rights
9M09
In House production
TL5 programming mix shows
a stable performance of in-house
production.
Alba Adriatica
30
Investor Relations Department
Phone: +34 91 396 67 83
Fax: + 34 91 396 66 92
Email: inversores@telecinco.es
WEB: http://www. telecinco.es/inversores/en
DISCLAIMER
Statements contained in this document, particularly the ones regarding
any Telecinco possible or assumed future performance, are or may be
forward looking statements and in this respect they involve some risks
and uncertainties.
Telecinco actual results and developments may differ materially from
the ones expressed or implied by the above statements depending on
a variety of factors.
Any reference to past performance of Telecinco shall not be taken as
an indication of future performance.
The content of this document is not, and shall not be considered as, an
offer document or an offer or solicitation to buy or sell any stock.
31
GESTEVISION TELECINCO S.A.
VII Seminario de Media
19 de enero de 2010
www.telecinco.es/inversores/en/
32
Descargar