Presentation September 10, 2015 - FIMALAC...39 casinos (*) Including 35 in France, 3 in Switzerland...
Transcript of Presentation September 10, 2015 - FIMALAC...39 casinos (*) Including 35 in France, 3 in Switzerland...
Presentation
September 10, 2015
Summary
First half consolidated results
(January 1, 2015 – June 30, 2015
CONSOLIDATED DATA
SALESEconomic weight (100%) and consolidated data by activity
(in € millions) 1H 2014
(Jan 14 – June 14)
1H 2015
(Jan 15 – June 15)
Conso
1H 2014
Conso
1H 2015
Fitch 396.6 540.6+ 36.3 % as reported
+ 14.4 % like for like0.0 0.0
Barrière 295.3 301.5 + 2.1 % 0.0 0.0
Digital 26.5 45.8 26.5 45.8
Entertainment 98.3 89.9 21.1 32.9
Real Estate 4.5 6.8 4.5 6.8
Sales 821.1 984.6 + 19.9 % 52.1 85.5
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Economic weight 100%
Change
EBITDA Economic weight (100%) and consolidated data by activity
(in € millions) 1H 2014
(Jan 14 – June 14)
1H 2015
(Jan 15 – June 15)Change
Conso
1H 2014
Conso
1H 2015
Fitch 165.8 246.4+ 48.6 % as reported
+ 28.2 % like for like0.0 0.0
Barrière 59.6 62.4 + 4.7 % 0.0 0.0
Digital 2.4 2.9 2.4 2.9
Entertainment 13.0 3.1 2.6 - 0.7
Real Estate 3.3 6.6 3.3 6.6
Parent Company and
others- 4.7 - 6.0 - 4.7 - 6.0
EBITDA 239.4 315.4 + 31.7 % 3.6 2.8
Economic weight 100%
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Consolidated net earnings – simplified presentation
(in € millions)1H 2014
(Jan. 14 - June 14)
1H 2015(Jan. 15 - June 15)
Net result from fully consolidated companies - 5.1 1 570.5
Fitch Group profit for the period(50% in 2014 – 20 % in 2015)
42.3 25.0
Barrière profit for the period (40 %) 3.2 6.3
Profit of others associates 0.7 0.0
NET EARNINGS – Group share / Published 41.1 1 601.8
Total net impact of the sale of 30 % of Fitch Group - 1 560.9
NET EARNINGS - Group share / Restated(excluding sale of 30 % of FG)
40.9
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FITCH GROUP
Fitch GroupSales by segment
(in € millions) 1H 2014(Jan. 14 - June 14)
1H 2015(Jan. 15 - June 15)
Change
reported
Change
like for like
Fitch Ratings (ratings):
Corporate Finance 173.0 225.6 30.4 % 12.3 %
Structured Finance 76.0 108.5 42.8 % 21.7%
Public Finance 28.0 42.8 52.9 % 28.9 %
Others (***) 14.9 18.5 24.2 % 5.5 %
291.9 395.4 35.5 % 16.0 %
Fitch Solutions (research, subscriptions)
61.1 82.5 35.0 % 13.1 %
Fitch Learning (specialized training)
18.2 22.3 21.4 % 4.9 %
BMI(sectorial and country analyses)
10.4 20.6 NC (*) NC (*)
Others (**) 15.0 19.8 32.0 % 12.7 %
SALES
FITCH GROUP396.6 540.6 36.3 % 14.4 %
(*) BMI (Business Monitor International) was acquired mid-March(**) « Non-ratings » activity of Korea Ratings(***) Mainly Korea and India Page 8
Fitch GroupSales by region
(in € millions) 1H 2014(Jan. 14 - June 14)
1H 2015(Jan. 15 - June 15)
Change
reported
Change
like for like
North America 146.0 235.9 61.6 % 31.8 %
EMEA
(Europe, Middle East, Africa)162.9 198.2 21.7 % 4.1 %
Asia Pacific 58.0 75.6 30.3 % 10.7 %
Latin America 29.7 30.9 4.0 % - 7.6 %
SALES - FITCH GROUP 396.6 540.6 36.3 % 14.4 %
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Fitch Group - EBITDA (*)
(*) EBITDA : Recurring Operating Income + Depreciation, amortization and provisions
(in € millions). 1H 2014(Jan. 14 - June 14)
1H 2015(Jan. 15 - June 15)
Change
EBITDA reported 165.8 246.4 48.6 %
Currency translation impact and change
in perimeter- 33.8
EBITDA like-for-like 165.8 212.6 28.2 %
EBITDA / Sales margin reported 41.8 % 45.6 %
EBITDA / Sales margin like-for-like 41.8 % 46.9 %
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BARRIERE
39 casinos (*)
Including 35 in France, 3
in Switzerland and 1 in
Egypt
15 luxury hotels
Including 14 in France
and 1 in Morocco
Almost 130 restaurants and
bars
(*) The casinos located in Cap d’Agde and Megève have joinedthe group during the first half of FY14
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(in € millions) 1H 2014(Nov 13 –April 14)
1H 2015(Nov 14 –April 15)
Change
Summary income statement
Revenue (before gambling taxes) 497.9 505.9 + 1.6 %
Revenue (after gambling taxes) 295.3 301.5 + 2.1 %
EBITDA 59.6 62.4 + 4.7 %
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ENTERTAINMENT
Fimalac
Fimalac Développement
100 %
Vega
Ellipse/Carilis
Gilbert CoullierProductions
AuguriProductions
100 %
40 %
40 %
K-WetProductions
40 %
Simplified Group structure – Entertainment
Trois S
100%
100 %
AP2S
Kyro
100 %
50 %
Encore Productions
40 %
Debjam / Comedy Club
50 %
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Pôle Nord100 %
Miala50 %
Venue and aquatic facility managementShow Productions Services and ticketing
(in € millions) 1H 2014(Jan. 14 - June 14)
1H 2015(Jan. 15 - June 15)
Show Production 79.3 56.4
Entertainment and sports venues 18.2 28.0
Ticketing 0.0 4.8
Services 0.8 0.7
TOTAL SALES 98.3 89.9
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(in € millions) 1H 2014(Jan. 14 - June 14)
1H 2015(Jan. 15 - June 15)
Show Production 10.2 1.9
Entertainment and sports venues 2.6 0.8
Ticketing 0.0 1.2
Services 0.2 - 0.8
TOTAL EBITDA 13.0 3.1
DIGITAL
(in € millions)1H 2014
(Jan. 14 - June 14)
1H 2015(Jan. 15 - June 15)
SALES 26.5 45.8
EBITDA 2.4 2.9