QUARTER 1 RESULTS 2013€¦ · FM Rire& Chansons Eur. 1 Virgin RFM France Inter France Bleu France...
Transcript of QUARTER 1 RESULTS 2013€¦ · FM Rire& Chansons Eur. 1 Virgin RFM France Inter France Bleu France...
The leading European entertainment network
16 May 2013
Anke Schäferkordt, Co-CEOGuillaume de Posch, Co-CEOElmar Heggen, CFO
QUARTER 1RESULTS 2013
The leading European entertainment networkThe leading European entertainment network
Agenda
● Q1 HIGHLIGHTS
o Business Review
o Financial Review
o Business Outlook
2
REVENUE
€1.3 billion
REPORTED EBITA continuing operations
€207 million
CASH CONVERSION
164%EBITA MARGIN
15.6%NET RESULT€133 million
STRONG OPERATIONAL RESULTS COMBINED WITH EXCEPTIONAL CASH GENERATION
Quarter 1 highlights 2013
3
NET DEBT POSITION€278 million
The leading European entertainment networkThe leading European entertainment network
Agenda
o Q1 highlights
● BUSINESS REVIEW
o Financial Review
o Business Outlook
4
Note: P7S1 includes N24 up to 2010. 2011 and 2012 exclude Sixx
STRONG FINANCIAL AND OPERATIONAL PERFORMANCE
KEY FINANCIALS (in € million)AUDIENCE SHARE 14-59 (in %)
Mediengruppe RTL Deutschland
15.0
9.3 8.2
29.529.4
30.9 30.131.5 32.4 32.6
31.3 31.7
27.6 26.7 26.4 26.9 27.4 26.9 26.025.2
23.9
2005 2006 2007 2008 2009 2010 2011 2012 Q1 2013
5.67.8
5.2
43.843.3
46.4
43.543.9
43.7 44.4 43.9
43.4 43.1
39.2
41.6 41.4 41.4 40.8 41.4
2006 2007 2008 2009 2010 2011 2012 Q12013
AUDIENCE SHARE – FAMILY OF CHANNELS14-59 (in %)
RTL
P7S1
RTL Pro7Sat.1 VoxRTL II Kabel1
RTL
P7S1
SHARE OF NET ADVERTISING MARKET (in %)
-0.1+/-0+/-0 -0.8 -0.7 +0.3
Percentage point deviation vs FY 2012Source: GfK, ZAW and RTL Group estimates
x
5
456 461
109 134
ROS
23.9%
ROS
29.1%
Q1 2012 Q1 2013Q1 2012 Q1 2013
REVENUE EBITA
355 349
SOLID PERFORMANCE IN DIFFICULT MARKET CONDITIONS
16.0
25.6
9.84.5
44.1
M6 TF1 France 2 France 3 Others
NET TV ADVERTISING MARKET DEVELOPMENT
AUDIENCE SHARE – FAMILY OF CHANNELS
Groupe M6
20.332.4
18.2
Groupe M6 TF1 Group France Télévisions
AUDIENCE SHARE – MAIN CHANNELSQ1 2013 VS Q1 2012 (in %)
-10.8
-3.9
-13.0
63 60
KEY FINANCIALS (in € million)
M6 TF1Market
-0.9 -2.7+0.2
ROS
17.2%
ROS
17.7%
HOUSEWIVES <50 ALL DAY (in %)
HOUSEWIVES <50 ALL DAY (in %)
-1.0 -1.2 +2.6+0.1 -0.5
Percentage point deviation vs FY 2012
Source: Médiamétrie, housewives under 50, RTL Group estimatesGroupe M6: M6 and W9; TF1 Group: TF1, TMC and NT1; France TV: Fr2 – Fr5
x
Percentage point deviation vs FY 2012x
6
M6 and TF1: based on published information. Market : RTL Group estimates
Q1 2012 Q1 2013Q1 2012 Q1 2013
REVENUE EBITA
● Core franchises remain strongo Idols: 13th season confirmed
for US versionX Factor: 3rd season confirmed in US upfront by FoxGot Talent: continued high ratings on ITV1
● Worldwide presence
in production, distribution and digital
o Five year partnership with BBC to develop high quality children’s content
o New production label called Newman Street – focuson producing drama for British television
1310
OPERATIONAL PERFORMANCE IN LINE WITH EXPECTATIONS
FremantleMedia
KEY FACTS 2013 KEY FINANCIALS (in € million)
ROS
4.2%
ROS
3.3%
7
REVENUE EBITA
Q1 2012 Q1 2013 Q1 2012 Q1 2013
311 303
90 92
MARKET LEADERSHIP MAINTAINED
AUDIENCE SHARE – FAMILY OF CHANNELS
RTL Nederland
KEY FINANCIALS (in € million)
AUDIENCE SHARE: 20-49, PRIMETIME (in %)
19.8 14.4 8.4 4.5 5.6
RTL 4 NED 1 SBS 6 RTL 5 Net 5
+1.3 -1.4-3.0
32.2
20.726.7
RTL Nederland SBS Ned 1-3
-0.1 -2.4+0.7
-0.8 +0.9
Q1 2013 vs Q1 2012 (in %)
NET TV ADVERTISING MARKET DEVELOPMENT
-7.2-5.7
Market RTL Nederland
Percentage point deviation vs FY 2012x
Percentage point deviation vs FY 2012x Source: RTL Group estimates (spot and non-spot)
8
5 4
ROS
5.6%
ROS
4.3%
REVENUE EBITA
Q1 2012 Q1 2013 Q1 2012 Q1 2013
20-49, PRIMETIME (in %)
COST CONTROL OFFSETS WEAK TV ADVERTISING MARKET
54 51
12 12
NET TV ADVERTISING MARKET DEVELOPMENT
AUDIENCE SHARE – FAMILY OF CHANNELS
RTL Belgium
26.6
14.24.9 6.1 3.4
RTL-TVI La Une La Deux Club RTL Plug RTL
36.1
19.1
4.7
24.3
RTL Belgium Pubcaster AB 3 FrenchChannels
AUDIENCE SHARE: SHP 18-54, PRIMETIME (in %)
KEY FINANCIALS (in € million)
-0.2 +0.1+0.5 -1.1
-10.4 -11.9
-7.4
Market RTL Belgium RTBF
Q1 2013 VS Q1 2012 (in %)
-0.7 -0.9+1.5 +0.4
ROS
22.2%
ROS
23.5%
Percentage point deviation vs FY 2012
Source: Audimétrie
x
Percentage point deviation vs FY 2012x
9
REVENUE EBITA
Q1 2012 Q1 2013 Q1 2012 Q1 2013
Source: RTL Group estimates
+0.1
SHOPPERS 18-54, PRIMETIME (in %)
41 39
MARKET LEADERSHIP MAINTAINED
12.1
● Audience share of RTL family well ahead of commercial rivals
● Advertising market estimated to be down 1.8 per cent
RTL Radio (France)
KEY FACTS 2013 KEY FINANCIALS (in € million)
+0.6 -0.6 +/-0 -0.1 -0.3 -0.9 +0.8
15.0 +/-0p -0.2
AVERAGE AUDIENCE SHARE 2012 – 13+, 5-24H, MON – FRI (in %)
RTL Fun Radio
RTL2 NRJ Nostalgie ChérieFM
Rire &Chansons
Eur. 1 Virgin RFM FranceInter
FranceBleu
FranceInfo
RTL STATIONS NRJ GROUP LAGARDÈRE PUBCASTER
18.6 -0.5p+0.4p 20.0
+0.9
12.4
3.7 2.5
7.1
3.7 2.81.4
7.1
1.9 3.1
9.57.1
3.4
Percentage point deviation vs same period 2012x
10
3 2
ROS
7.3%
ROS
5.1%
Q1 2012 Q1 2013Q1 2012 Q1 2013
REVENUE EBITA
-0.1 -0.4 +/-0 -0.4+0.2
The leading European entertainment networkThe leading European entertainment network
Agenda
o Full-year highlights
o Business Review
● FINANCIAL REVIEW
o Business Outlook
11
Review of Results 31 March 2013, continuing operations (1/2)
In € million3 months to
March 2013
3 months to
March 2012
Per cent
change
REVENUE 1,329 1,322 +0.5
REPORTED EBITA 207 191 +8.4
Reported EBITA margin (%) 15.6 14.4 +1.2pp
Net result attributable to RTL Group shareholders 133 112 +18.7
UNDERLYING REVENUE 1,329 1,322 +0.5
UNDERLYING EBITA 215 191 +12.5
12
Review of Results 31 March 2013, continuing operations (2/2)
3 months to
March 2013
3 months to
March 2012Per cent change
REPORTED EBITA 207 191 +8.4
Impairment of investment in associates and amortisation and impairment of fair value adjustments on acquisitions of subsidiaries and joint ventures and re-measurement of earn-out arrangements
11 (12)
Gain from sale of subsidiaries, joint venturesand other investments and re-measurement to fair value
1 -
Net financial (expense) / income (2) 28
Income tax expense (61) (62)
PROFIT FOR THE PERIOD – CONTINUING OPERATIONS 156 145
LOSS FOR THE PERIOD – DISCONTINUED OPERATIONS - (1)
PROFIT FOR THE PERIOD 156 144 +8.3
Attributable to:
Non controlling interests 23 32
RTL Group shareholders 133 112 +18.7
In € million
13
Cash Flow Statement as of 31 March 2013
In € million 3 months to
March 2013
3 months to
March 2012
NET CASH FLOW FROM OPERATING ACTIVITIES 327 149
Add: Income tax paid 25 81
Less: Acquisition of assets, net (12) (35)
Equals: Reported free cash flow (FCF) 340 195
Acquisition of subsidiaries and JVs, net of cash acquired (39) 1
Disposal of subsidiaries and JVs, net of cash - (2)
Other financial assets (deposit excluded), net (1) 6
Net interest received / (paid) 12 (12)
Income tax paid (25) (81)
Dividends paid (1,613) (4)
CASH GENERATED / (USED) (1,326) 103
REPORTED EBITA (CONTINUING AND DISCONTINUED) 207 187
EBITA CONVERSION (FCF/EBITA) 164% 104%
14
The leading European entertainment networkThe leading European entertainment network
Agenda
o Full-year highlights
o Business Review
o Financial Review
● BUSINESS OUTLOOK
15
Outlook
16
Economic conditions remain challenging and visibility extremely limited
RTL Group will remain focused on its leadership positions and disciplined in cost management
RTL Group will continue with long-term investment strategycovering broadcast, content and digital
The leading European entertainment network
16 May 2013
Anke Schäferkordt, Co-CEOGuillaume de Posch, Co-CEOElmar Heggen, CFO
QUARTER 1RESULTS 2013