Styleguide ProSiebenSat.1 Media AG...Basis for A: Austrian channels S1, P7, k1, PULS 4, sixx (from...
Transcript of Styleguide ProSiebenSat.1 Media AG...Basis for A: Austrian channels S1, P7, k1, PULS 4, sixx (from...
Page 1 | November 6, 2014 Page 1
November 6, 2014
Press Presentation
Q3 2014
Page 2 | November 6, 2014 Page 2
At a Glance
Q3 2014
Page 3 | November 6, 2014
Key financials in Q3 2014
[Q3 2014 vs. Q3 2013, in EURm]
Revenues
Recurring EBITDA
Underlying net income
Continuing operations.
637.5
162.9
74.7
1 2 3 4 Q3 2014 – At a Glance
+10.5% ✔
+7.9% ✔
+13.9% ✔
Page 4 | November 6, 2014
87% of 2015 Group revenue growth target achieved by Q3 –
Content Production & Global Sales already above target
1 2 3 4 Q3 2014 – At a Glance
Continuing operations. Please note: Broadcasting German-speaking includes Pay TV. Digital & Adjacent revenues excl. 9Live and excl. Pay TV.
[Achievement
by Q3 2014,
in EURm]
72% 101% 92% Degree of
achievement 87%
250
425
125
800
180
392 127
699
0
200
400
600
800
1,000
Broadcasting German-speaking Digital & Adjacent Content Production & Global Sales Group
CMD 2015 target Achievement by Q3 2014
linear projection
of CMD target
75%
Page 5 | November 6, 2014
We will hit 2015 revenue growth target already by YE 2014
Continuing operations.
1 2 3 4 Q3 2014 – At a Glance
Group revenues
[in EURm]
~2,850
2,051
2,751 2,851
0
500
1,000
1,500
2,000
2,500
3,000
3,500
2010 Q3 2014 (LTM) 2014E 2015 Target
Estimated Q4
revenue growth
Page 6 | November 6, 2014
Already 39% of our 2018 revenue growth target achieved
Continuing operations.
300
600
100
1,000
120 229
45
394
0
200
400
600
800
1,000
Broadcasting German-speaking Digital & Adjacent Content Production & Global Sales Group
CMD 2018 target Achievement by Q3 2014
1 2 3 4 Q3 2014 – At a Glance
39% 40% 45% 38%
29% linear projection
of CMD target
[Achievement
by Q3 2014,
in EURm]
Degree of
achievement
Page 7 | November 6, 2014
Q3/9M 2014 Financial Performance
Review
Page 8 | November 6, 2014
0
200
400
600
800
Continuing operations.
637.5 576.9
0
100
200
300
400
162.9 151.0
+10.5% +7.9%
Consolidated revenues
[in EURm]
Recurring EBITDA
[in EURm]
Q3 2014 Q3 2013 Q3 2014 Q3 2013
Recurring EBITDA margin:
25.6% (-0.6%pts)
1 2 3 4 Q3/9M 2014 – Financial Performance Review
Q3 2014: double-digit revenue growth and high
single-digit recurring EBITDA increase
Page 9 | November 6, 2014 Continuing operations. Please note: underlying net income for Q3 2014 adjusted for impairments on financial investments and other non-cash items (e.g., PPA).
1 2 3 4 Q3/9M 2014 – Financial Performance Review
Underlying net income
[in EURm]
0
25
50
75
100
74.7 65.6
+13.9%
Q3 2014 Q3 2013 -60
-40
-20
0
20
-22.2
-32.5
+31.7%
Net interest result
[in EURm]
Q3 2014 Q3 2013
Q3 2014: further net interest result and underlying net income
improvement
Page 10 | November 6, 2014
0
400
800
1,200
1,600
2,000
Continuing operations.
1,909.7 1,764.5
0
250
500
750
1,000
522.2 488.2
+7.0%
Consolidated revenues
[in EURm]
Recurring EBITDA
[in EURm]
9M 2014 9M 2013 9M 2014 9M 2013
Recurring EBITDA margin:
27.3% (-0.3%pts)
+8.2%
9M 2014: solid increase of Group revenues and
recurring EBITDA
1 2 3 4 Q3/9M 2014 – Financial Performance Review
Page 11 | November 6, 2014 Continuing operations.
Financial leverage
Net income
Recurring EBITDA
Group revenue growth
FY 2014 targets
high single-digit
above prior year
above prior year
1.5 – 2.5x
We confirm recently updated 2014 outlook
1 2 3 4 Q3/9M 2014 – Financial Performance Review
Page 12 | November 6, 2014
Broadcasting
German-speaking
Page 13 | November 6, 2014
Viewer share growth in Germany and Austria
Switzerland
Austria
Germany
Q3 2013 Q3 2014
18.4%
28.5%
21.3%
17.7%
29.3%
22.1%
Basis for GER: All German TV households (Germany + EU), A 14-49 years; Mon-Sun, 3-3 h. Source: AGF in cooperation with GfK / TV Scope / ProSiebenSat.1 TV Deutschland Strategy & Operations. Basis for CH: D-CH, A 15-49;
Source: Mediapulse TV-Panel, D-CH, A 15-49. Basis for A: Austrian channels S1, P7, k1, PULS 4, sixx (from Jul 3, 2012, onwards) and P7 MAXX and S1 Gold Austria (both from Jul 15, 2014, onwards). Figures for A are based on 24 hours in key demographics (Mon-Sun).
1 2 3 4 Broadcasting German-speaking / TV Performance
Audience shares
Page 14 | November 6, 2014
SAT.1 daytime recovery / continued new channels growth
1 2 3 4 Broadcasting German-speaking / TV Performance
SAT.1 daytime performance Audience shares in relevant target group
[in %pts and percent]
Q3 2014: Ø11.7%
Q3 2013: Ø 8.8%
“Auf Streife” “Im Namen der
Gerechtigkeit” “Anwälte im Einsatz”
17.1%
Up to
Ø 12.9%
16.5%
Up to
Ø 11.7%
14.7%
Up to
Ø 11.7%
F 40-64
M 14-39
F 14-39
2.5%
+0.1%pts
1.4% +0.8%pts
2.0%
+1.7%pts
SAT.1 daytime recovery: Basis: All German TV households (Germany + EU), A 14-49 years; SAT.1 daytime: 14-17h; Monday-Friday (w/o holidays); launch of shown formats: September 30, 2013.
New channels growth: All German TV households (Germany + EU), *) A 14-49 years; Mon-Sun, 3-3h; sixx: “Promi Big Brother“ Late Night LIVE on Aug 21, 2014. SAT.1 Gold: On Sept 25, 2014. ProSieben MAXX: Sept 2014.
Source: AGF in cooperation with GfK / TV Scope / ProSiebenSat.1 TV Deutschland Strategy & Operations.
Page 15 | November 6, 2014
Continued leading ad share positions
Switzerland
Austria
Germany
Q3 2013 Q3 2014
26.2%
43.9%
24.4%
43.8%
P7S1 gross TV advertising market share
[in percent]
1 2 3 4 Broadcasting German-speaking / Ad Market Performance
33.4% 36.7%
Source: Nielsen Media Research (Germany), Focus Media (Switzerland, Austria): Jul-Sep 2014 vs Jul-Sep 2013.
Page 16 | November 6, 2014
P7S1 YTD slightly above solid growing German net TV
ad market
German net TV ad market growth (estimate) and P7S1 growth
[in percent]
German net TV ad market growth
[in percent]
1 2 3 4 Broadcasting German-speaking / Ad Market Performance
Market
Q1 2014 Q3 2014 Q2 2014 YTD
(Jan-Sept) FY 2012 FY 2013
+2.2% +1.4%
FY 2014E
~2.5%
Source: P7S1 estimate. Source: 2012/2013 based on ZAW Werbung 2014, 2014E: P7S1 own estimate.
0%
Page 17 | November 6, 2014
Continued strong growth of P7S1 HD subscriber base
+30%
5.1m subscribers
in Q3 2014
HD subscriber growth
[Q1 2012 – Q3 2014; in m]
P7S1 HD FTA
subscriber growth [Q3 2014 vs. Q3 2013; Germany]
Note: Paying subscriber figures as reported by platform partners (EoP; subject to subsequent adjustments by the partners).
1 2 3 4 Broadcasting German-speaking / Distribution
1.2
1.8
2.3
2.8
3.3
3.7 3.9
4.2 4.6
4.8 5.1
Q1
2014
Q1
2012
Q1
2013
Q2
2012
Q3
2012
Q3
2014
Q2
2014
Q3
2013
Q4
2013
Q4
2012
Q2
2013
Page 18 | November 6, 2014
New platform partnerships driving reach of our assets
1 2 3 4 Broadcasting German-speaking / Distribution
HD+ partnership
Further extension
of HD+ partnership
7TV app
7TV catch-up content
available through Google
chromecast
MyVideo
Exclusive MyVideo content
pre-installed on Smart TVs of
market leader Samsung
Switzerland
ProSieben FUN and
kabel eins CLASSICS
now available in Switzerland
Free-to-air, Pay TV & VoD
* Based on UPC Cablecom Q2 2014 Report. ** Based on total base of Samsung Smart TV sets in Germany, 2013.
5m Samsung Smart TV population **
Page 19 | November 6, 2014
Digital & Adjacent
Page 20 | November 6, 2014
Dynamic growth across all D&A verticals …
Digital Commerce Adjacent Digital Entertainment
EUR 89m EUR 53m EUR 16m Revenues
[Q3 2014]
Revenue growth
[Q3 2014 vs.
Q3 2013] +30% +49% +24%
1 2 3 4 Digital & Adjacent
Note: Adjacent includes Sugar Ray in Q3 2013 (shifted to TV Deutschland), PS Event in Q3 2014 (shifted from TV Deutschland).
Page 21 | November 6, 2014
… leads to double-digit D&A segment growth
1 2 3 4 Digital & Adjacent
Ext. Revenues Rec. EBITDA Rec. EBITDA margin
+28% +19% [in EURm] [in EURm] [in %]
-1.6%pts
124
159
0
20
40
60
80
100
120
140
160
180
Q3 2013 Q3 2014
27
32
0
10
20
30
40
Q3 2013 Q3 2014
21.9 20.3
0
5
10
15
20
25
30
35
40
Q3 2013 Q3 2014
Page 22 | November 6, 2014
Market leading positions in our seven D&A pillars
Adjacent
Digital Entertainment 1 2 3 4 Digital & Adjacent
Digital Entertainment Digital Commerce Adjacent
Ad VoD Pay VoD Games M4R/E Dig.
Commerce
Dig.
Commerce
Music, Artist Mgmt.,
Live, Licensing
Non
physical
+
Physical
#3
#1 #1 #1
#2
#2
Revenue split
in Q3 2014 34%
56%
10%
#4
#3
#1
#2
#1
Top5
Page 23 | November 6, 2014
Outperformance of ad market driven by dynamically growing
video views
InStream video advertising growth
[Gross, Q3 2014 vs. PY; Germany]
Online video views
[in m]
1 2 3 4 Digital & Adjacent / Digital Entertainment
+16%
+24%
Market
50% Market
share
495
1,140
Q3 2013 Q3 2014
+130%
Own & operated
platforms and mandates
and UGC2
YouTube1
Key
driver
Source: Market by Nielsen Media Research, gross, w/o YT. 1 Incl. mobile browser, excl. mobile apps. YouTube inventory not fully monetized 2 I.e., TV.des and MyVideo (incl. mobile apps); Portals, Mandates, UGC (excl. mobile apps).
Page 24 | November 6, 2014
maxdome with significant uplift in relevant KPIs
+39%
No. of paid
transactions
Total video
takes
+161% +151%
SVoD
subscriber
All figures: Q3 2014 vs. Q3 2013.
1 2 3 4 Digital & Adjacent / Digital Entertainment
Page 25 | November 6, 2014 All figures: 26 August - 15 September 2014 vs. 16 September - 06 October 2014.
Netflix category marketing drives market and maxdome KPIs
1 2 3 4 Digital & Adjacent / Digital Entertainment
3 weeks after
Netflix
market entry
3 weeks
before Netflix
market entry
maxdome net subscriber additions
Netflix launch
on Sept 16, 2014
+31%
Page 26 | November 6, 2014
We have a broad investment portfolio with 57 assets
1 2 3 4 Digital & Adjacent / Digital Commerce
Please note: investments based on straight equity or equity-like components, strategic and opportunistic by entire D&A segment, incl. ProSiebenSat.1 Accelerator.
1) Structured as warrant. 2) via EPIC companies.
Minority (10-50%) Majority (>50%) Minority (<10%)
28 deals 12 deals
27 deals 14 deals 12 deals
1 deal 3 deals
Selection International
1)
Germany, Austria & Switzerland Selection
17 deals
Dig
ital
No
n-
dig
ital
Selection
1)
Selection
2)
2)
Page 27 | November 6, 2014
We continue to become the “importer of choice”
1 2 3 4 Digital & Adjacent / Digital Commerce
We provide a unique launch pad for companies
entering the German/European market
M4R/E+
Network &
Know How
Testimonials TV
Analytics
Creative
BI & Data
Online
Marketing
Operational
Services
Successful import deals
Page 28 | November 6, 2014
Key travel assets benefit from strong value-add of P7S1
1 Overall market growth through mydays success. 2 mydays: 2010-2012; weg.de: 2012-2013 (FC). 3 mydays: 2012-2014 (FC); weg.de: 2013-2014 (FC).
Revenue / market CAGR development in % – examples mydays and weg.de
8 2
201
5 2 4
19
29
We add value through
• Media
• Cash
• Shared services
• Knowledge sharing
• Data analytics
• Technology
Market CAGR
mydays/weg.de CAGR After P7S1 entry3 Pre P7S1 entry2
1 2 3 4 Digital & Adjacent / Digital Commerce
Page 29 | November 6, 2014
Good progress in building new digital clusters
Fashion & Sports Beauty &
Accessories Home & Living
1 via EPIC companies.
Lead
generation
Transaction
and
ad-based
[ P7S1 equity stake]
47% 23%
21%
50.1%
100% 1
100%
1
22%
Strong
synergies
Attractive
margins
Structural growth
markets
Technological
challenges can be
handled
Limited likelihood
of disruptive
forces
Rationale
(selected criteria)
1 2 3 4 Digital & Adjacent / Digital Commerce
Page 30 | November 6, 2014
Content Production &
Global Sales
Page 31 | November 6, 2014
Q3 on-air successes and re-commissions
Married at First Sight:
THE FIRST YEAR
Spinn-off
commis-
sioned
Sold to 50+
territories in
Latin
America
Sold to
the USA
1 2 3 4 Content Production & Global Sales
Season 2
commis-
sioned
Page 32 | November 6, 2014
Upcoming US format highlights
1 2 3 4 Content Production & Global Sales
“Escape Your Life”
Extreme social experiment
where 4 couples opt to
change their lives forever
“Lost in Love”
An epic worldwide search
for lost loves – that one
person who got away
“Curvy Brides”
Bridal salon owners Yukia
and Yuneisia help curvy
brides find the gown of
their dreams
“Midnight Feast”
Competitive cooking event
set in a food hall after-
hours
Producer:
HALF YARD Productions
Producer:
NERD
Producer:
NERD
Producer:
Kinetic Content
| November 6, 2014 Page 33
Summary & Outlook
| November 6, 2014 Page 34
We confirm our positive full-year guidance
1 2 3 4 Summary & Outlook
Ad performance in line with positive net TV ad market ✔
✔
✔
Digital & Adjacent with double-digit revenue growth
High single-digit Group revenue growth
Recurring EBITDA and net income above prior year ✔
| November 6, 2014 Page 35
Disclaimer
This presentation contains "forward-looking statements" regarding ProSiebenSat.1 Media AG ("ProSiebenSat.1") or ProSiebenSat.1 Group, including opinions, estimates and projections regarding ProSiebenSat.1's or ProSiebenSat.1 Group's financial position, business strategy, plans and objectives of management and future operations. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of ProSiebenSat.1 or ProSiebenSat.1 Group to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. These forward-looking statements speak only as of the date of this presentation and are 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. The information in this presentation is subject to change without notice, it may be incomplete or condensed, and it may not contain all material information concerning ProSiebenSat.1 or ProSiebenSat.1 Group. ProSiebenSat.1 undertakes no obligation to publicly update or revise any forward-looking statements or other information stated herein, whether as a result of new information, future events or otherwise.
| November 6, 2014 Page 36