Styleguide ProSiebenSat.1 Media AG · #1 premium display Supply-Side-Platform (SSP) in Germany with...
Transcript of Styleguide ProSiebenSat.1 Media AG · #1 premium display Supply-Side-Platform (SSP) in Germany with...
Page 1| July 30, 2015
July 30, 2015
IR Presentation
Q2 2015
Page 2| July 30, 20154
1 Q2 2015 – At a Glance
2 Q2 2015 – Financial Performance Review
Summary & Outlook
Agenda
Broadcasting German-speaking
Digital & Adjacent
Content Production & Global Sales
Q2 2015 – Operational Performance
33.1
3.3
3.2
Page 3| July 30, 2015
Thomas Ebeling
Chief Executive Officer
At a Glance
Q2 2015
Page 4| July 30, 2015
Key financials – Q2 2015
[Q2 2015 vs. Q2 2014, in EURm]
Revenues
Recurring EBITDA
Underlying net income
Continuing operations.
772.5
237.6
118.2
+11.8% ✔
+8.4% ✔
+9.3% ✔
1 2 3 4 Q2 2015 – At a Glance
Page 5| July 30, 2015
Continued dynamic growth across all three business segments
Continuing operations.
1 2 3 4
Digital & AdjacentBroadcasting
German-speaking
Content Production
& Global Sales
TV Advertising
+2.6%
Distribution
+30.9%
Digital Entertainment
+15.6%
Digital Commerce
+32.6%
Adjacent
+6.8%
Revenue
growth
vs.
Q2 2014
+EUR 23m(Q2 2015: EUR 535m)
+EUR 24m(Q2 2015: EUR 54m)
+EUR 34m(Q2 2015: EUR 184m)
+4.6% +77.2%+23.0%
Q2 2015 – At a Glance
Page 6| July 30, 2015
Major operational highlights
✔ProSiebenSat.1 with positive TV ad performance in H1
✔Improved our digital competitiveness and growth profile with four transactions
✔Investment into Ad Tech/programmatic advertising platform1
✔Best H1 TV ratings performance in the last ten years
1 2 3 4 Q2 2015 – At a Glance
1. Subject to closing of Virtual Minds and Smartstream acquisitions.
Page 7| July 30, 2015
Rationale
Market
position
Revenue
growth5
We have recently acquired four strategically important assets
1 2 3 4 Q2 2015 – At a Glance
Build leading advertising
technology ecosystem
#1premium display SSP3
High double-digit
Take leading position
globally in MCN market
Top5MCN globally2
High double-digit
Shape new Online
Comparison vertical
#1energy comparison portal1
High double-digit
Improve online video
monetization
#1multi-screen video ad exchange4
High double-digit
1. #1 energy comparison portal in Germany. 2. CDS: Together with Studio71 top 5 MCN globally. 3. #1 premium display Supply-Side-Platform (SSP) in Germany with Yieldlab. 4. #1 multi-screen video ad
exchange in Germany. Note: Verivox, CDS, Virtual Minds and Smartstream deals signed in Q2 with envisaged closing in Q3. 5. P7S1 estimate FY2015
Page 8| July 30, 2015
“String of pearls” M&A strategy continues
1 2 3 4 Q2 2015 – At a Glance
• Building European
digital commerce
champions
• Expanding our
international digital
entertainment position
Attractive shareholder value
creation potential:
• Synergies with TV and/or existing
digital verticals
• Strengthening our
competitiveness
• Entering high potential digital
markets
• Disciplined approach to valuation
in line with our financial policy
• “String of pearls” of
smaller and larger
bolt-on acquisitions
(alone or with partner)
• No transformative
acquisition or merger
currently
contemplated
Investment consideration Main approachFocus on digital
Page 9| July 30, 2015
Well on track to hit our 2018 Group revenue growth target
Continuing operations.
1 2 3 4
Degree of
achievement 61% 150%57% 67%
300
600
100
1,000
182
343 150
674
0
200
400
600
800
1.000
Broadcasting German-speaking Digital & Adjacent Content Production & Global Sales Group
CMD 2018 target Achievement by Q2 2015
[Achievement
by Q2 2015,
in EURm]
42.0%linear projection
of CMD target
Q2 2015 – At a Glance
Page 10| July 30, 2015
We update our 2015 segment revenue growth assumptions…
Continuing operations.
Digital & Adjacent Content Production
& Global Sales 1 2 3Broadcasting
German-speaking
Revenues
vs.
FY 2014
low single-
digit growth
double-digit
growthlow double-
digit growth
1 2 3 4 Q2 2015 – At a Glance
Page 11| July 30, 2015
… and our positive outlook for 2015
Continuing operations.
Recurring EBITDA and underlying net income above prior year
Digital & Adjacent with double-digit revenue growth
Ad performance at least in line with positive net TV ad market
High-single digit Group revenue growth
1 2 3 4 Q2 2015 – At a Glance
✔
✔
✔
✔
Page 12| July 30, 2015
Dr. Gunnar Wiedenfels
Chief Financial Officer
Financial Performance
Review
Q2/H1 2015
Page 13| July 30, 2015
0
200
400
600
800
Q2 2015: continued double-digit revenue growth and strong
recurring EBITDA improvement
0
100
200
300
237.6219.1
+11.8%
Q2 2015
691.1772.5
Q2 2014
Consolidated revenues
[in EURm]
Recurring EBITDA
[in EURm]
Q2 2015Q2 2014
Recurring EBITDA margin:
30.8% (-0.9%pts)
1 2 3 4
Continuing operations.
Q2/H1 2015 – Financial Performance Review
+8.4%
Page 14| July 30, 2015
Q2 2015: key revenue growth drivers of ProSiebenSat.1
Broadcasting German-speaking
Key Group revenue growth drivers
[Q2 2015 external revenues, growth rates in percent]
Digital & Adjacent Content Production & Global Sales
Continuing operations.
TV advertising
EUR 492.6m, +2.6%
Digital Entertainment
EUR 66.2m, +15.6%
Red Arrow
EUR 54.4m, +77.2%
Distribution
EUR 28.5m, +30.9%
Digital Commerce
EUR 98.3m, +32.6%
Adjacent
EUR 19.0m, +6.8%
EUR 534.6m, +4.6% EUR 183.5m, +23.0% EUR 54.4m, +77.2%
1 2 3 4 Q2/H1 2015 – Financial Performance Review
Page 15| July 30, 2015
Q2 2015: underlying net income benefiting from operating and
interest result improvement
Continuing operations.
-50
-25
0
25
-18.9-22.3
-15.0%
Interest result
[in EURm]
Q2 2015Q2 2014
1 2 3 4 Q2/H1 2015 – Financial Performance Review
0
50
100
150
+9.3%
Q2 2015
118.2
Q2 2014
108.1
Underlying net income
[in EURm]
Page 16| July 30, 2015
0
500
1.000
1.500
H1 2015: EUR 31m rec. EBITDA improvement already in H1
0
200
400
600
390.3359.3
+12.2%
H1 2015
1,272.21,427.1
H1 2014
Consolidated revenues
[in EURm]
Recurring EBITDA
[in EURm]
H1 2015H1 2014
Recurring EBITDA margin:
27.3% (-0.9%pts)
1 2 3 4
Continuing operations.
Q2/H1 2015 – Financial Performance Review
+8.6%
Page 17| July 30, 2015
H1 2015: key revenue growth drivers of ProSiebenSat.1
Broadcasting German-speaking
Key Group revenue growth drivers
[H1 2015 external revenues, growth rates in percent]
Digital & Adjacent Content Production & Global Sales
Continuing operations.
TV advertising
EUR 929.3m, +3.4%
Digital Entertainment
EUR 118.2m, +18.0%
Red Arrow
EUR 100.0m, +76.5%
Distribution
EUR 54.2m, +28.7%
Digital Commerce
EUR 167.8m, +37.2%
Adjacent
EUR 35.6m, +9.1%
EUR 1,005.4m, +4.7% EUR 321.7m, +26.1% EUR 100.0m, +76.5%
1 2 3 4 Q2/H1 2015 – Financial Performance Review
Page 18| July 30, 2015
H1 2015: double-digit underlying net income growth rate
above revenue and recurring EBITDA increase
Continuing operations.
-100
-50
0
50
-48.2-53.1
-23.9%
Interest result
[in EURm]
H1 2015H1 2014
1 2 3 4 Q2/H1 2015 – Financial Performance Review
0
50
100
150
200
+14.8%
H1 2015
188.1
H1 2014
163.8
Underlying net income
[in EURm]
Page 19| July 30, 2015
Broadcasting German-speaking: continued solid TV
advertising revenue growth in H1 2015
Continuing operations.
External revenues and recurring EBITDA
[in EURm]
1 2 3 4 Q2/H1 2015 – Financial Performance Review
Q2
2015
Q2
2014y-o-y
H1
2015
H1
2014y-o-y Comments
Ext. revenues 534.6 511.2 +4.6% 1,005.4 960.4 4.7%Solid TV ad revenue growth
despite strong comparable
figures - supported by positive
macro and advertising
environment. Continued
dynamic distribution revenue
growth.
TV advertising 492.6 480.1 +2.6% 929.3 899.0 3.4%
Distribution 28.5 21.8 +30.9% 54.2 42.1 28.7%
Rec. EBITDA 196.9 188.4 +4.5% 322.8 308.2 4.7%Maintained strong segment
rec. EBITDA margin
Page 20| July 30, 2015
Digital & Adjacent: dynamic revenue and recurring EBITDA
growth driven by all business units
External revenues and recurring EBITDA
[in EURm]
Continuing operations.
1 2 3 4 Q2/H1 2015 – Financial Performance Review
Q2
2015
Q2
2014y-o-y
H1
2015
H1
2014y-o-y Comments
Ext. revenues 183.5 149.2 +23.0% 321.7 255.1 +26.1% Revenue growth of Digital
Entertainment driven by Ad
and Pay VoD business.
Growth of Digital Commerce
based on organic growth of all
assets as well as positive
consolidation effects.
Digital Entert. 66.2 57.2 +15.6% 118.2 100.1 +18.0%
Dig. Commerce 98.3 74.1 +32.6% 167.8 122.3 +37.2%
Adjacent 19.0 17.8 +6.8% 35.6 32.7 +9.1%
Rec. EBITDA 37.5 30.8 +21.8% 64.3 54.6 +17.8%Maintained recurring EBITDA
margin of c. 20%
Page 21| July 30, 2015
Content Production & Global Sales: revenue growth mainly
driven by US production business
Continuing operations.
1 2 3 4
External revenues and recurring EBITDA
[in EURm]
Q2/H1 2015 – Financial Performance Review
Q2
2015
Q2
2014y-o-y
H1
2015
H1
2014y-o-y Comments
Ext. revenues 54.4 30.7 +77.2% 100.0 56.7 76.5%
Strong organic revenue
growth driven by US
production business, global
sales success of “BOSCH”
and “100 Code” as well as
appreciation of US dollar vs.
Euro.Total revenues 68.0 39.2 +73.6% 123.6 75.7 63.3%
Rec. EBITDA 4.0 1.3 >100% 4.7 -1.2 >100%Further improvement of
segment profitability
Page 22| July 30, 2015
Q2/H1 2015: Group P&L – improvement of all key metrics
Continuing operations.
1. Result for the period attributable to shareholders of P7S1 Media SE.
.
1 2 3 4 Q2/H1 2015 – Financial Performance Review
[in EURm] Q2 2015 Q2 2014 Δ H1 2015 H1 2014 Δ
Revenues 772.5 691.1 +11.8% 1,427.1 1,272.2 +12.2%
Recurring EBITDA 237.6 219.1 +8.4% 390.3 359.3 +8.6%
Non-recurring items -12.1 -10.4 +16.0% -18.9 -14.7 +28.7%
EBITDA 225.5 208.7 +8.0% 371.4 344.6 +7.8%
Depreciation and amortization -32.8 -31.3 +5.0% -61.5 -57.3 +7.5%
Operating result (EBIT) 192.7 177.5 +8.6% 309.9 287.3 +7.8%
Financial result -19.8 -44.2 -55.1% -48.2 -82.5 -41.5%
Thereof interest result -18.9 -22.3 -15.0% -40.4 -53.1 -23.9%
Earnings before tax (EBT) 172.9 133.3 +29.7% 261.6 204.9 +27.7%
Net income1 118.0 89.4 +32.0% 179.0 138.4 +29.4%
Underlying net income 118.2 108.1 +9.3% 188.1 163.8 +14.8%
Page 23| July 30, 2015
Net debt
[in EURm]
1,8241 1,782
42
0
500
1.000
1.500
2.000
H1 2015: reduced net debt and financial leverage
despite increased dividend payment
Financial leverage: Net debt/LTM recurring EBITDA (LTM recurring EBITDA of EUR 878.3m (previous year: EUR 812.4m) for continuing operations).1. After reclassification of cash and cash equivalents of Eastern European operations.
06/30/2014 Change in
net debt
06/30/2015
Financial leverage
at 2.0x as of June 30,
2015 vs. 2.2x as of
June 30, 2014
Net financial debt
1 2 3 4 Q2/H1 2015 – Financial Performance Review
LTM recurring EBITDA
EUR 878.3m (previous year EUR 812.4m)
Page 24| July 30, 2015
Financial targets for 2015
Continuing operations.
Financial leverage
Underlying net income
Recurring EBITDA
Group revenue growth high-single digit
above prior year
above prior year
1.5x – 2.5x
1 2 3 4 Q2/H1 2015 – Financial Performance Review
Page 25| July 30, 2015
Thomas Ebeling
Chief Executive Officer
TV Performance
Broadcasting
German-speaking
Page 26| July 30, 2015
Strong viewer share growth across German-speaking markets
1 2 3 4 Broadcasting German-speaking / TV Performance
Basis for GER: All German TV households (Germany + EU), A 14-49 years; Mon-Sun, full day 3-3h. Source: AGF in cooperation with GfK / TV Scope / ProSiebenSat.1 TV Deutschland. Basis for CH: D-CH, A 15-49; Mon-Sun, full day.
Source: Mediapulse TV-Panel. Basis for A: A12-49; Mon-Sun, full day 3-3h, P7 MAXX Austria and S1 Gold Austria (both from Jul 15, 2014, onward). Source: AGTT / GfK: Fernsehforschung / Evogenius Reporting.
Q2 2014 Q2 2015
Germany 27.5% 29.8%
Austria 22.0% 23.3%
Switzerland 19.0%16.2%
1. Relatively low ratings due to FIFA Soccer World Cup during the period of June 12-30, 2014 (estimated rating in Germany w/o World Cup: 29.1%)
1Q2 2014
Page 27| July 30, 2015
Focus topics for 2015 well on track
3
1Increase audience
share
2Build share in female
target groups
Leverage digital to
drive viewer loyalty
1 2 3 4 Broadcasting German-speaking / TV Performance
Best H1 performance in the last ten years with
high lead over key competitor
>3%pts rating increase in female target group
(F 14-49) over Q2 2014
~50% usage increase of digital TV offerings and
#1 TV company in German social media
Page 28| July 30, 2015
Audience shares (A14-49)
[Full day; in percent]
Best H1 performance in the last ten years…
Basis: All German TV households (Germany + EU), A 14-49 years; Mon-Sun, full day 3-3h; P7S1 w/o N24 & w/o 9live, sixx from Feb 1, 2011 onward, SAT.1 Gold from Jan 17, 2013 onward, ProSieben MAXX
from Sep 3, 2013 onward. Source: AGF in cooperation with GfK / TV Scope / ProSiebenSat.1 TV Deutschland.
28.2 28.027.7
28.4 28.4 28.3 28.1
27.2
28.0
29.3
H1/06 H1/07 H1/08 H1/09 H1/10 H1/11 H1/12 H1/13 H1/14 H1/15
23
24
25
26
27
28
29
30
1 2 3 4 Broadcasting German-speaking / TV Performance
1
Page 29| July 30, 2015
…with high lead over key competitor in Q2 2015
Basis: All German TV households (Germany + EU), A 14-49 years; Mon-Sun, full day 3-3h; RTL Mediengruppe w/o RTL II, SAT.1 Gold from Jan 17, 2013 onward, ProSieben MAXX from Sep 3, 2013
onward. Source: AGF in cooperation with GfK / TV Scope / ProSiebenSat.1 TV Deutschland.
1 2 3 4 Broadcasting German-speaking / TV Performance
Audience shares (A14-49)
[Full day; in percent]
28.5
29.3
28.4
27.5
29.329.8
28.9
29.8
24.825.2
26.4
23.6 23.6 24.9 24.9
Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015
23
24
25
26
27
28
29
30
31
29.8
Δ 5.5%pts
24.3
1
Page 30| July 30, 2015
Strong ratings in female target group
1 2 3 4 Broadcasting German-speaking / TV Performance
Q2 2014 Q2 2015
27.9
31.0
+3.1%pts
2
Female target group (F 14-49)
[audience share in percent]
Q2 2014 Q2 2015
32.434.9
+2.5%pts
Young female viewers (F 14-29)
[audience share in percent]
Basis: All German TV households (Germany + EU); Mon-Sun, full day 3-3h
Source: AGF in cooperation with GfK / TV Scope / ProSiebenSat.1 TV Deutschland.
Page 31| July 30, 2015
Successfully leveraging digital synergies to drive viewer
loyalty
1 2 3 4 Broadcasting German-speaking / TV Performance
3
#1 TV company in German social media~50% usage increase of digital TV offerings
#1 TV fan page in Germany
~24 million fans
#1 TV format in Germany
~400k followers
#1 media channel in Germany
~3 million followers
1 7TV app launched in May 2014; 7TV website and complementary SmartTV application launched in May 2015Source: IVW, Webtrack, facebook.com, twitter.com, instagram.com, ProSiebenSat.1 TV Deutschland.
Q2 2015 vs. Q2 20141
.de
.de
.de
.de
+49%Unique
visits
+24%Page
impressions
+61%Video
views
Page 32| July 30, 2015
Strong line-up for H2 2015
1 2 3 4 Broadcasting German-speaking / TV Performance
German fiction US series Entertainment
Zoo
Mila
New tele-
novela
New
series
Einstein
Udo Honig
Event
movie
Berlin eins
Event
movie
Navy CIS
New
season
Criminal Minds
New
season
Gotham
New
season
The Flash
New
season
Prankenstein
New
show
The Voice
New
season
Josephine Klick
New
season
Frauenherzen
New
series
Under The Dome
New
season
New
series
Promi Big Brother
New
season
Page 33| July 30, 2015
Thomas Ebeling
Chief Executive Officer
Ad Market Performance
Broadcasting
German-speaking
Page 34| July 30, 2015
Positive market development in H1 2015
1 2 3 4 Broadcasting German-speaking / Ad Market Performance
German-speaking TV advertising revenue growth of 3.4% y-o-y
Continued increase of TV share in media mix1
Solid German net TV ad market growth in H1 of approx. 2.0% – 3.0%
Continued positive net pricing development
1. Source: Nielsen; gross figures excluding YouTube and Facebook.
✔
✔
✔
✔
Page 35| July 30, 2015
Continued leading ad share position in Germany
Switzerland
Austria
Germany
Q2 2014 Q2 2015
24.5%
44.9%
35.4%
28.2%
44.5%
37.4%
ProSiebenSat.1 gross TV advertising market share
[in percent]
Q2: Apr-Jun | Source: Nielsen Media Research (Germany), Media Focus (Austria, Switzerland).
1 2 3 4 Broadcasting German-speaking / Ad Market Performance
Page 36| July 30, 2015
TV continues to benefit at the expense of other media
Gross ad spendings, Germany
[in percent and %pts; Q2 2015 vs. Q2 2014
Q2: Apr-Jun | Source: Nielsen Media Research. Online exclusive search, affiliate and others not reporting their bookings to Nielsen (e.g. Youtube, Facebook).
1 2 3 4 Broadcasting German-speaking / Ad Market Performance
Outdoor, Cinema
Magazines
Newspaper
Radio
TV
Total
Online
-0.8%pts
-1.1%pts
-0.1%pts
+1.7%pts
100.0%
46.9%
11.5%
5.7%
15.7%
13.7%
6.6%
Share of segment Change in media mix
+0.4%pts
-0.2%pts
Page 37| July 30, 2015
7 out of 10 biggest industries increased TV budgets
491
391
384
293
291
229
190
139
130
97
3.252
15.1%
12.0%
11.8%
9.0%
8.9%
7.0%
5.8%
4.3%
4.0%
3.0%
+10.3%
-2.1%
-2.7%
+30.7%
+26.6%
+11.7%
-18.4%
+1.9%
+7.2%
+6.4%
+4.6%pts
-3.1%pts
+2.1%pts
+5.7%pts
+5.5%pts
+5.0%pts
-5.2%pts
+4.1%pts
-1.5%pts
+2.7%pts
100.0% +4.0% +1.7%pts
Gross TV ad spendings of top 10 TV industries, Germany
[in EURm, percent and %pts; Q2 2015 vs. Q2 2014]
in EURm Share Δ Δ TV in media mix
126
46
-8
-11
69
61
24
-43
3
9
6
Q2: Apr-Jun | Source: Nielsen Media Research (excl. Media & Publishing and Other Advertising).
1 2 3 4 Broadcasting German-speaking / Ad Market Performance
Detergents
Pharmacy
Finance
Beverages
Food
Business Services
Motor Vehicles
Telecommunication
Cosmetics & Toiletries
Trade & Shipment
in EURm
Total
Page 38| July 30, 2015
Continued CPT increases in H1
CPT = Cost Per Thousand. Adults 14-49, Mon-Sun, full day 3-3 h, 01.01.-30.06.2015
Base: all TV households in Germany (D+EU) / Source: AGF in cooperation with GfK / TV Scope / SevenOne Media / Pricing & Media Strategy.
1 2 3 4 Broadcasting German-speaking / Ad Market Performance
3.83.5
8.6
10.9 11.2
Gross CPT growth H1 2015
[in percent vs. H1 2014]
Page 39| July 30, 2015
Strong net CPT development since 2009
1 2 3 4 Broadcasting German-speaking / Ad Market Performance
Net CPT development
[Index: 2007=100]
80
90
100
110
120
130
2007 2008 2009 2010 2011 2012 2013 2014 2015Estimate
Market
Basis: All TV-HH (D+EU), TA 1-30; SevenOne Media: SAT.1, ProSieben, kabel eins; IP: RTL, VOX.
Source: AGF/GfK, TV Scope, SevenOne Media, Pricing & Media Strategy, own calculations.
Page 40| July 30, 2015
Approved by Federal Administrative Court
High demand in market for regional TV ads
First cases of regional TV advertising realized, but ban
impending for 2016
First successful pilot cases set up in NRW,
Hessen and BW
1 2 3 4 Broadcasting German-speaking / Ad Market Performance
Utility providers Lotteries
Breweries Car dealers
Furniture dealers Retailers
Political ban in the broadcasting law
impending for 2016
May: Bavaria; Q3 2015: all other
transmission areas of Kabel
Deutschland (all other regions)
Page 41| July 30, 2015
P7S1 has several levers to address regional potential
Existing solution: cable spot overlay
National spots with regional discount
HbbTV 1.0 non-spot products
HbbTV 2.0 spot overlay
(potential ban 2016)
IPTV spot overlay (cooperation req.)
Mobile live stream targeting (e.g., 7TV)
Sat.1 regional windows
1 2 3 4 Broadcasting German-speaking / Ad Market Performance
1
3
4
5
6
7
2
Current Future
Reconfirming
market potential
by 2018 at
EUR 50m
Page 42| July 30, 2015
1 2 3 4 Broadcasting German-speaking / Ad Market Performance
First addressable HbbTV campaign: Daimler switch-in
• Switch-in targeted on connected TV/
HbbTV for 1.5m AIs (gross CPM: 50)
• Further geo-targeting possibilities
(German regions & metropolitan areas)
Display shown
after switch to
ProSieben, Sat.1,
kabel eins or sixx
After click on Red
Button: full-screen
microsite opens
Switch-in:
• On connected TV sets via HbbTV (11m devices)
Campaign concept Full-screen product microsite
Page 43| July 30, 2015
H1 growth rate with same dynamic as in 2014
1 2 3 4 Broadcasting German-speaking / Ad Market Performance
Source: ProSiebenSat.1 estimate.
German net TV ad market growth
2015
[in percent]
• March 2015 benefitted from
earlier Easter
• April 2015 negative due to
Easter effect
• May 2015 soft - no World
Cup soccer related pull-
forward effects from June into
May as in prior year
• June 2015 very strong as
expectedQ1 Q2
2014 2015 2014 2015
H1
2014 2015
Page 44| July 30, 2015
First three quarters of 2014 had a higher share than annual
average for P7S1, leading to tougher comparables until Q3
1 2 3 4 Broadcasting German-speaking / Ad Market Performance
Q1 2014 Q2 2014
ProSiebenSat.1 estimated net TV ad share vs. IP Germany, 2014
[deviation vs. average share in 2014]
Q3 2014 Q4 2014
Ø Q4 will drive
P7S1 2015
ad share
performance
Page 45| July 30, 2015
Solid single-digit net TV ad market growth forecast
+2-3%
German net TV ad market estimates 2015
+2.7% +3.2%
Source: Warc International Ad Forecast July 2015, ZenithOptimedia Advertising Expenditure Forecasts June 2015, Magna Global Forecast June 2015, ProSiebenSat.1 estimate.
1 2 3 4 Broadcasting German-speaking / Ad Market Performance
P7S1 internal market estimate
+3.4%
Page 46| July 30, 2015
Sales outlook 2015
3
1
2
4
German net TV advertising market growth of 2-3%
P7S1 to grow at least in line with market
Net CPTs to further increase due to increased value of reach
Continued increase of TV share in media mix
1 2 3 4 Broadcasting German-speaking / Ad Market Performance
Page 47| July 30, 2015
Conrad Albert
Chief Legal, Distribution &
Regulatory Affairs Officer
Distribution
Broadcasting
German-speaking
Page 48| July 30, 2015
Dynamic growth of Q2 revenues and HD subscribers
1. Q2 2015 vs. Q2 2014
Note: HD Free-to-air subscribers shown; paying subscriber figures as reported by platform partners (EoP; subject to subsequent adjustments by platform partners); total of 5.7m
1 2 3 4 Broadcasting German-speaking / Distribution
P7S1 distribution
revenue growth1
P7S1 HD
subscriber growth1
EUR
+6.7m
+31%
+0.9m
+19%
Page 49| July 30, 2015
HD deals closed in Q2: Deutsche Telekom and Sky
1 2 3 4 Broadcasting German-speaking / Distribution
Sat.1 Gold HD included in
Telekom HD package,
from August 2015 on
Deal extension with HD+:
distribution of HD product to
Sky satellite households
Page 50| July 30, 2015
Continuous growth of mobile distribution
1 2 3 4 Broadcasting German-speaking / Distribution
1. Pre-installed on all new devices sold since 2015; additionally integrated within app recommendation area for all TV devices sold since 2012; 2.Google play store (android TV) available on Smart TVs of Sony;
Philips and Sharp expected to launch android TV in H2 2015
• Mobile TV app with strong
reach of 1.2m downloads
• On all Samsung TV devices1
• In Google play store2 for
android TV
• On amazon fire TV sticks and
kindle fire HD•
• Strongest German EPG app
with 16m downloads
Page 51| July 30, 2015
Digital & Adjacent
Dr. Christian Wegner
Chief Digital & Adjacent Officer
Page 52| July 30, 2015
Q2 2015: D&A highlights
1 2 3 4 Digital & Adjacent
1. Ext. revenues respectively Entity rec. EBITDA Q2 2015 vs. Q2 2014.
Note: CDS, Verivox, Virtual Minds and Smartstream deals signed in Q2 with envisaged closing in Q3.
Delivered double-digit revenue and EBITDA growth1+23% / +22%
Established a footprint in the US MCN market with the acquisition of CDSCDS
Built the foundation for a programmatic ad tech stackVirtual Minds,
Smartstream.tv
Acquired Verivox in landmark deal to create our new Online Comparison verticalVerivox
Expanded the footprint of our Travel assets to Spain, France and Netherlands International
exports
Page 53| July 30, 2015
Ext. revenues Rec. EBITDA
Double-digit growth in revenues and rec. EBITDA
1 2 3 4 Digital & Adjacent
[in EURm] [in EURm]
0
50
100
150149.2
Q2 2014 Q2 2015
183.5
0
10
20
30
40
Q2 2015Q2 2014
30.8
37.5
~20%EBITDA
margin1
+23%+22%
1. Entity rec. EBITDA / Ext. revenues.
Page 54| July 30, 2015
All D&A units contributed to our dynamic growth …
1 2 3 4 Digital & Adjacent
Revenues
[Q2 2015]
Revenue growth
[Q2 2015 vs.
Q2 2014]
Digital
Entertainment
EUR
66.2m
+16%
Adjacent
EUR
19.0m
+7%
Digital
Commerce
EUR
98.3m
+33%
Page 55| July 30, 2015
Digital Entertainment
Digital Entertainment Digital Commerce AdjacentA B C
Ad VoD Pay VoD Games M4R/E 7Travel 7CommerceMusic, Artist Mgmt.,
Live, Licensing
… with market leading positions in our seven D&A pillars
#4#1Top
32
Q2 2015
revenue
split36%
1 2 3 4 Digital & Adjacent
10%54%
Market position
Beauty & Accessories
New asset
Top
33
Online Comparison Portals
Other assets
1. Studio71 is #1 MCN in Germany; CollectiveStudio71 is top 5 globally. 2. SVoD market Germany, according to GfK. 3. Mobile and PC games publishers in Europe, excluding direct publishing by
developers, P7S1 estimates. Note: Verivox, Virtual Minds, Smartstream and CDS deals signed in Q2 with envisaged closing in Q3 2015.
#1
#1
#1
Top
5
#2
#1
#1
#1
#11
#1
Top
3
#2
#1
#3
Top
5
#1
#1
#2
#1
Page 56| July 30, 2015
We entered the US MCN market with the acquisition of CDSA
1 2 3 4 Digital & Adjacent / Digital Entertainment
Top 5 Global Multi-Channel Networks
Global video views, June 20151
#5
>1,300Channels
220Channels
>270mSubscribers
27mSubscribers
>2.0bnMonthly video views
300mMonthly video views
1. Source: Socialblade, excluding Music MCNs; last 30 days as of July 13th.
Note: CDS acquisition signed in Q2 with envisaged closing in Q3.
CS71 is our foundation for further global expansion
Top 5 Global Multi-Channel Networks
Global video views, June 20151
Page 57| July 30, 2015
In Germany, we strengthened our Studio71 market leadership
1 2 3 4 Digital & Adjacent / Digital Entertainment
A
1. Source: Video views of top 5 German MCNs according to ComScore YouTube Partners Report, June 2015.
We increased the gap to our followers and
now lead with +28% more video views …
Video views Germany, June 20151
+28%
… and signed artists with >4m subscribers
with increasing mainstream visibility
2.7mLeFloid
0.4mDfashion
0.9muFone
Page 58| July 30, 2015
Our online video platforms are strong and growing …
1 2 3 4 Digital & Adjacent / Digital Entertainment
A
1. Channel websites growth in video unique users, AGOF internet facts April 2015 vs. April 2014; May and June data not available yet. 2. Mandates websites growth in unique users, AGOF internet
facts April 2015 vs. April 2014; May and June data not available yet; only selection of mandates shown. 3. Top 3 entertainment app (average ranking in Google Play App Store in Q2 2015).
Channel
websites and
mandates
Mandates
+14%unique users2
7TV
Top 3entertainment
app3
putpat.tv
#1in music video
on mobile and
SmartTV
Channel websites
+81%video
unique users1
Selected
key assets
Page 59| July 30, 2015
… securing our leading video ad market position in Germany
We maintain #1 position in the
premium video ad market
The next promising ad market
is about to take off: Mobile
We have already built a strong
own app base in mobile with 7TV
#1P7S1 position in premium
video ad market
1 2 3 4 Digital & Adjacent / Digital Entertainment
A
+50%Nielsen mobile ad
market growth1
3.8m7TV downloads
1. Source: Nielsen Media Research Q2 2015 vs. Q2 2014.
Page 60| July 30, 2015
We now cover the programmatic advertising value chain
1 2 3 4 Digital & Adjacent / Digital Entertainment
A
1. Signed in Q2 with envisaged closing in Q3; Active Agent, Yieldlab and Adition are subsidiaries of Virtual Minds. 2. Smartstream.tv has already been a minority investment of P7S1; acquisition of
additional 55% signed in Q2 with envisaged closing in Q3. 3. Source: Magna Global; CAGR 2014-2018.
Programmatic advertising value chain
+46% growth3 of programmatic advertising market
Ad server
Ad
vert
iser
Demand Side PlatformExchange/
MarketplaceSupply Side Platform
Sale
s h
ou
se/ P
ub
lish
er51%1
P7S1 stake in
Virtual Minds
80%2
P7S1 stake in
Smartstream.tv
Page 61| July 30, 2015
maxdome continues to grow in Q2 2015
+79% +93% +44%
SVoD
subscribers1
Total
video views2
Total
user base3
1 2 3 4 Digital & Adjacent / Digital Entertainment
A
1. End of period Q2 2015 vs. end of period Q2 2014. 2. Q2 2015 vs. Q2 2014. 3. Average of period Q2 2015 vs. average of period Q2 2014.
Photo credit: © Sony Pictures Television International. All rights reserved. Breaking Bad is part of the maxdome subscription.
Page 62| July 30, 2015
Digital
Commerce
Accelerator
Majorities (>50%)Minorities (<50%)1
B
1 2 3 4 Digital & Adjacent / Digital Commerce
Note: Investments based on straight equity or equity-like components by D&A Digital Commerce segment, incl. Accelerator; non-Commerce D&A assets (e.g., Deezer) not included in this overview. Verivox deal
signed in Q2 with envisaged closing in Q3. 1. On a non-diluted basis (warrants and convertibles included in <50%). 2. Deals to increase existing shares not included. 3. Not including Verivox until closing.
We have a broad investment portfolio with >60 assets
4new deals
closed in
Q2 20152
Travel
Beauty &
Accessories
Online
Comparison
Other
Assets
Selection
Selection
~50 assets 12 assets3
Page 63| July 30, 2015
Verivox: Landmark deal shapes our Online Comparison verticalB
1 2 3 4 Digital & Adjacent / Digital Commerce
Strong market positions in energy (Verivox)
and mobile bundle deals (preis24.de)
Foundation to become market driver in further
markets (e.g., car insurance, financial services)
80% stake in Verivox acquired for ~170m EUR3
to build new Online Comparison Portals vertical
>1marranged contracts
per year
80%1
85%2
P7S1 stake
1. Verivox acquisition signed in Q2 with envisaged closing in Q3. 2. Acquisition of additional 25% equity stake in preis24.de in Q2. 3. Additional variable purchase price component depending on
2015 operating profit of Verivox; this amounts to a maximum of EUR 40 million.
Page 64| July 30, 2015
Our Travel vertical expands internationallyB
1 2 3 4 Digital & Adjacent / Digital Commerce
>160mLTM revenues1
#1 #3
Top
5
#1 #2
Market position Germany
billiger-mietwagen launched
in France as Carigami2
tropo launched
in the Netherlands
wetter.com launched
in Spain as tiempo.es
1. External revenues July 2014 - June 2015. 2. The existing service location-de-voiture has been relaunched with billiger-mietwagen logo and corporate identity and the brand name carigami.
#1
Page 65| July 30, 2015
Dynamic growth of our Beauty & Accessories verticalB
1 2 3 4 Digital & Adjacent / Digital Commerce
Market position Germany
#2
#1
Top
5
+139%revenues1
Majority stake acquisitions of
Flaconi and Amorelie closed
Amorelie launched France
website supported by TV
campaign on TF1
1. Revenue growth Q2 2015 vs. Q2 2014. Amorelie and Flaconi fully consolidated in Q2 2015, Valmano consolidated starting Q3 2015.
Page 66| July 30, 2015
moebel.de with outstanding performance
1 2 3 4 Digital & Adjacent / Digital Commerce
B
Q2 2015 with continuously strong
revenue growth
Growth further driven by
strong fit with TV advertising
Leading market position as
#1 meta search in online furniture
+73%revenues1
+62%visits1
1. Growth Q2 2015 vs. Q2 2014. moebel.de revenues not consolidated in Q2 2014.
Page 67| July 30, 2015
Mobile LTE tariffs and
smartphone bundles
Online insurance reseller
Swedish online shop
for premium fashion
We have a continuously strong M4R/E deal flow
1 2 3 4 Digital & Adjacent / Digital Commerce
B
SevenVentures revenues1
30%
Our dynamic revenue growth … … is based on our strong deal flow
Q2 2015Q2 2014
1. Total SevenVentures business (incl. international, Austria, Switzerland and legacy). Note: All shown deal examples are Media for Revenue deals.
Example
Example
Example
Page 68| July 30, 2015
Starwatch position expanded with new sports initiatives
1 2 3 4 Digital & Adjacent / Adjacent
C
10 daysuntil
Gold status
Starwatch with most successful 2015
album release in Germany (Santiano) …
… and expansion to sports with
Boateng marketing deal1
Winner of
2014 Football
World Cup
1. Deal includes marketing and transfer rights as well as international exploitation together with RocNation.
Photo credit: Electrola / Universal Music.
Page 69| July 30, 2015
Digital & Adjacent – outlook
1 2 3 4 Digital & Adjacent
Deliver double-digit revenue growth in FY 2015
Build new digital verticals
Further internationalize with more imports and exports
1
2
3
Page 70| July 30, 2015
Content Production &
Global SalesThomas Ebeling
Chief Executive Officer
Page 71| July 30, 2015
Ext. revenues Rec. EBITDA
Continued growth in revenues and rec. EBITDA
1 2 3 4 Content Production & Global Sales
56.7
H1 2014 H1 2015
100.0 4.7
H1 2015
-1.2
H1 2014
+77%
[in EURm] [in EURm]
Page 72| July 30, 2015
Married at First Sight: our most successful reality show so far
1 2 3 4 Content Production & Global Sales
#1 telecast ever
on FYI in the US.
Season 3 and spin-
offs in production.
#1 rated show in
Australia.
Season 2 already
commissioned.
Nearly doubled
Channel 4’s average
in the UK.
Season 2 already
commissioned.
30% above slot
average in Germany.
Season 2 in
production.
Page 73| July 30, 2015
Red Arrow formats travel internationally
Rights for
home-makeover format
House Rules
sold to SBS Netherlands
Drama format
The Last Cop
premiered with record
ratings in Japan
Seasons 1 and 2 of
major crime series
Bosch
heading to SBS Australia
1 2 3 4 Content Production & Global Sales
#1slot winner
on Nippon TV
Page 74| July 30, 2015
Summary & Outlook
Thomas Ebeling
Chief Executive Officer
Page 75| July 30, 2015
We update our positive full-year guidance
1 2 3 4 Summary & Outlook
Continuing operations.
Recurring EBITDA and underlying net income above prior year
Digital & Adjacent with double-digit revenue growth
Ad performance at least in line with positive net TV ad market
High-single digit Group revenue growth
✔
✔
✔
✔
Page 76| July 30, 2015
Disclaimer
This presentation contains "forward-looking statements" regarding ProSiebenSat.1 Media SE ("ProSiebenSat.1")or ProSiebenSat.1 Group, including opinions, estimates and projections regarding ProSiebenSat.1's orProSiebenSat.1 Group's financial position, business strategy, plans and objectives of management and futureoperations. Such forward-looking statements involve known and unknown risks, uncertainties and other importantfactors that could cause the actual results, performance or achievements of ProSiebenSat.1 or ProSiebenSat.1Group to be materially different from future results, performance or achievements expressed or implied by suchforward-looking statements. These forward-looking statements speak only as of the date of this presentation andare based on numerous assumptions which may or may not prove to be correct.
No representation or warranty, expressed or implied, is made by ProSiebenSat.1 with respect to the fairness,completeness, correctness, reasonableness or accuracy of any information and opinions contained herein. Theinformation in this presentation is subject to change without notice, it may be incomplete or condensed, and itmay not contain all material information concerning ProSiebenSat.1 or ProSiebenSat.1 Group. ProSiebenSat.1undertakes no obligation to publicly update or revise any forward-looking statements or other information statedherein, whether as a result of new information, future events or otherwise.
Page 77| July 30, 2015