Year End Closing 2011 - cdn.goldbach.com · Quelle: Netto Werbeaufwand Schweiz der Stiftung...

Year End Closing 2011 March 6th, 2012 / Klaus Kappeler

Goldbach‘s Milestones 2011.

2

/ January: launch of new TV portfolio

/ February: launch of Wilmaa time machine

/ March launch of Radio Spot Auditor

/ April: launch of Swiss Live TV Network

/ June: launch of Wilmaa Radio plattform

launch of TAO agency tool

/ July: launch of Goldbach Interactive Austria

sale of an additional part of ARBOmedia’s print-business

launch of local TV network representation in Romania

launch of Wilmaa EPG (Electronic Pogramme Guide)

/ August: end of ARBOmedia Squeeze-out process

/ September: launch of Goldbach Interactive Poland

/ December: management-buy-out ARBOmedia Moscow

sale of last print-business in Romania

© 2012 Goldbach Group

3 © 2012 Goldbach Group

Continuing Strong net Revenue Growth.

1991 1997

1989 1992 1999

2000

2001

2002

2003

2004 2006

2005 2007

2008

2009

2010 1983

74.0 79.4 103.5

129.5

181.7

237.0

306.5

0.3 5.5 8.0

42.9

Sales

Radio + TV + Internet

327

2011

Goldbach Interactive

Austria

Poland

Czech Rep.

446

2012

Positioning of Goldbach’s Business Lines.

4

Creation

Production ONLINE &

MOBILE

PR

GAMES

PRINT

OUT OF HOME

Strategy

Media

TV / RADIO Marketing of all

electronic,

interactive and

mobile media.

Full-service in the

field of digital

marketing

communication.

GO

LD

BA

CH

INT

ER

AC

TIV

E

GO

LD

BA

CH

AU

DIE

NC

E


© 2012 Goldbach Group 5

The Business Line Goldbach Media expanded to Romania.

TV / Radio / Out-of-Home / Teletext

Countries

Business Line

Offerings

Switzerland

Austria

Romania

Competence Centres

Offerings by Goldbach MEDIA.



Goldbach Media: Launch of Biggest Romanian Local TV-

Network.

• Goldbach started

with the Business

Line Media in

Romania

• Launch of local

TV-Network with

30 stations

• Network of 36

private Radio

stations


The Business Line Goldbach Audience in 2011.

Site representation / Network / Internet-TV & Video /

Mobile / Social Media Advertising

Countries

Business Line

Offerings

Switzerland

Austria

Poland (ARBOmedia)

Competence Centres

Desinvestments Management-buy-out in Moscow

Croatia

Slovenia

Czech Republic


GOLDBACH

IP TV/VIDEO

Russland

Serbia

Romania

Offerings by Goldbach AUDIENCE.



The Business Line Goldbach Interactive expanded to Poland

and Austria.

Display Campaigns / Search / Mobile /

Social Media / Websites, Shops &

Portals

Countries

Business Line

Offerings

Switzerland

Germany

Russia

Austria

Poland

Competence Centres

Offerings by Goldbach INTERACTIVE.


Summary Financial Results 2011 and Previous years.


Core Business Result:

The Core Business Result excludes the Print Business in Romania (as it does not belong to the group‘s core operation) as well as positive and negative one-time

items above CHF 1m, mainly in connection with acquisitions and disposals of subsidiaries.

*Operating Expenses excluding Amortization, Depreciation and Impairment

2011 2010 2009

Net Revenue reported 446.0 329.4 318.0

core business 446.0 327.2 306.5

Gross Profit reported 99.0 78.6 76.3

core business 99.0 78.0 72.2

EBIT reported 30.0 23.3 11.8

core business 30.1 21.7 18.6

OPEX* reported -61.7 -49.5 -56.0

core business -65.7 -53.3 -50.1

13

/ Today, Business Line Media has fully

developed its position as market leader in

marketing for private TV channel in CH

/ The Business Line Media holds an out-

standing portfolio of marketing contracts

/ TV Business is resistant towards market and

economic volatility

Goldbach Group is Out Performing in 2011.

/ Continued strong shift from classic into

electronic media

+65.6%

+ 38.8%

vs

FY 2010

+ 36.3%

vs

FY 2010

+ 61.9%

vs

FY 2010

+ 62.2%

vs

FY 2010

14

/ Providing full service digital marketing

solutions to direct advertisiers and digital

agencies

/ International expansion on track. Market

entrance in Austria and Poland.

Goldbach Group Offers Full Digital Marketing Solutions.

/ Increased focus on margin - not revenue

/ Transition period with introduction of new

audience targeting technology and Video

network

/ Strong and profitable growth of Online-TV

products

-3.7 %

+32.3%

- 15.4%

vs

FY 2010

- 9.3%

vs

FY 2010

+ 4.1%

vs

FY 2010

+ 9.3%

vs

FY 2010


Market Developments Switzerland and International


Switzerland:

Advertising Market on the Level of 2006.

Quelle: Netto Werbeaufwand Schweiz der Stiftung Werbestatistik Schweiz (www.werbestatistik.ch). Semester Report Online 2011 von Media Focus für Internet. Interne Umsatzstatistiken von

Goldbach oder Schätzungen durch Goldbach für andere Medien im 2011.

in M

io.

CH

F

107 156 203 276 337 449 468 588 615 637 628 595

669 763 142 138 136 131 135 135

143 559

598 669 689 606

613 620

2299 2369

2487 2406

1915

2001 1913

3742 3921

4174 4169

3621

3902 3938

0

500

1000

1500

2000

2500

3000

3500

4000

4500

5000

0

500

1'000

1'500

2'000

2'500

3'000

3'500

4'000

4'500

5'000

2005 2006 2007 2008 2009 2010 2011e

Print total Kino OOH Teletext Radio total TV total Internet total Total Werbemarkt inkl. Online

• Print still declining

• Outdoor Advertising

on the level of 2006

• Sustainable growth in

elecronic media

http://www.werbestatistik.ch/


Switzerland:

TV Wins More Than 2 % Market Share.



2.9% 4.0% 4.9% 6.6% 9.3% 11.5% 11.9%

15.7% 15.7% 15.3% 15.1% 16.4%

17.1% 19.4% 3.8% 3.5% 3.3% 3.1% 3.7%

3.5% 3.6%

14.9% 15.3% 16.0% 16.5%

16.7% 15.7%

15.7%

61.4% 60.4% 59.6% 57.7% 52.9% 51.3% 48.6%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2005 2006 2007 2008 2009 2010 2011e

Print total OOH Kino Teletext Radio total TV total Internet total

• Market share

of electronic

media in-

creased by

56 % to 35 %

within six

years

• Continuous

TV-Market

growth in

the future



Switzerland:

TV Advertising Market Triples Itself Due to Private Offerings. 115

127

141

150

175

178

192

203

220

220

227

241

296

318

315 388

422 493

531

494

482

488

529

545

560

581

565

542 615 7

04

115

127

141

150

175

178

192

203

220

220

227

241

315

339

343

416

450

540

577

546

527

533

570

588

615

637

628

595

669

763

0

100

200

300

400

500

600

700

800

900

19

82

19

83

19

84

19

85

19

86

19

87

19

88

19

89

19

90

19

91

19

92

19

93

19

94

19

95

19

96

19

97

19

98

19

99

20

00

20

01

20

02

20

03

20

04

20

05

20

06

20

07

20

08

20

09

20

10

20

11e

TV Sponsoring

TV Spots

TV total

Quelle: Netto Werbeaufwand Schweiz der Stiftung Werbestatistik Schweiz (www.werbestatistik.ch). Semester Report Online 2011 von Media Focus für Internet. Interne Umsatzstatistiken von Goldbach oder

Schätzungen durch Goldbach für andere Medien im 2011.





Switzerland:

Continious Growth of Goldbach’s TV Market Share.

179 178 200 249

56 63 72

86

393 354 397 428

0%

20%

40%

60%

80%

100%

2008 2009 2010 2011e

SRG total CH-Private total Fenster total Anteil Goldbach total an TV total

• TV net revenue

Goldbach grew by

73 % to CHF 287 Mio.

(PY CHF 166 Mio.)

• organic growth

of TV net revenue

more than 20 %





Switzerland:

Goldbach Develops Swiss Radio Market.

• Radio market

grew by 6 %

• Goldbach net

revenue growth

of 26 % to

CHF 43 Mio.

(PY CHF 34 Mio.)

• Sponsoring/

Special Adver-

tising Formats

and national

Radio Adverti-

sing are the

drivers of growth

39 39 39 39 40 40 41 45 43 49

5 5 7 8 11 10 8 9 13 13

67 64 67 75 64 66 61 60 55 54

18 19 19 19 22 20 19 20 23 26

129 131 143

0

50

100

150

0%

20%

40%

60%

80%

100%

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011e

Privatradio Sponsoring / Sowefo lokal Privatradio Spotwerbung lokal

SRG Radiosponsoring national Privatradio Sponsoring / Sowefo national

Privatradio Spotwerbung national

135





Switzerland:

Special Advertising Formats Become More Important in Radio.

• Sponsoring

and special

advertising

formats double

share of total

Radio adverti-

sing revenue to

28 %

• SRG Radios

generate a third

of the segment

85% 88% 86% 84% 82% 81% 80% 80% 75% 78% 78% 78% 73% 72%

0%

20%

40%

60%

80%

100%

0

50

100

150

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011e

Radio Sponsoring total Privatradio Spot total Radio total Goldbach Anteil am Radiomarkt

CH

F 1

14

Mio

.

CH

F 1

42

Mio

.

CH

F 1

43

Mio

.

15% 13%

14% 16% 19% 20%

20% 20%

25% 22% 22% 22% 27%

28%

85% 88% 86% 84% 82% 81% 80% 80% 75% 78% 78% 78% 73% 72%



Switzerland:

Total Online Advertising Market Grew Lightly (net).



in M

io.

CH

F

36 47 52 86

119 143 129 18

27 44

69

95

125 140

22 33

42

44

41

55 63

22

31

39

44

48

93 99

107

156

203

276

337

449 468

0

100

200

300

400

500

2005 2006 2007 2008 2009 2010 2011e

Affiliate Rubriken (Auto) Rubriken (Immo) Rubriken (Job)

Search Display Internet total

• Total online ad-

vertising market

grew by 4 %

only

• «Classifieds» are

the main growth

driver in this seg-

ment; plus 10 %

• Display decreased

by 10 %



Switzerland:

Video will lead Display to Growth.



Display split:

34% 33% 29% 34% 38% 34% 30%

17% 17% 22%

25% 28%

28% 30%

49% 49% 49% 41%

34% 38% 40%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2005 2006 2007 2008 2009 2010 2011e

Rubriken Search Display+Affiliate

11%

89%

Instream

Video

other Display/

Affiliate

advertising



US Market Developments:

Three ad Formats Will get at Least 80 % of Online

Advertising; Video Fastest Growing.

Source: eMarketer January 2012

ad

sp

en

din

gs in

%.

48.0 46.9

24.1 20.5

6.3

15.0

0.0

10.0

20.0

30.0

40.0

50.0

60.0

2011 2012 2013 2014 2015 2016

Search Banners/Display Video

%

%

%

%

%

%

• Search/Display:

Spendings will

slip sligthly

• Video: Ad Spending

nearly doubles its

share from 7.9 % in

2012 to 15 % in 2016

25

Worldwide Media and Marketing Forecasts by Group M.

Global

US $

in m

Share

in %

Growth

in %

2010 468.1 100 6.5

2011 f

revised 491.2 100 4.9

2012f 522.2 100 6.3

TV 227.5 43.6 7.0

Radio 27.6 5.3 4.3

Display 36.0 n.a. 12.6

Interaction 98.2 18.8 15.8

Sources: GroupM 70-country world media & marketing forecasts, winter 2011, current prices. Interaction are combined figures of Internet display, Search paid, Mobile

advertising, video, viral, game. Online figures are not comparable due to change in survey.

Swiss Market

US $

in m

Share

in %

Growth

in %

4.9 100 9.9

5.1 100 4.7

5.3 100 3.7

1.6 30.7 6.0

0.2 3.7 1.7

n.a. n.a. n.a.

0.44 8.3 15.2

CEE

US $

in m

Share

in %

Growth

in %

17.7 100 13.0

20.3 100 14.3

22.0 100 8.8

11.7 53.1 9.0

0.9 4.2 3.3

0.76 n.a. 19.7

3.0 13.5 19.1



PWC: Market Developments

German and Austrian Advertising Market.

Source: PWC Global Entertainment & Media Outlook 2011 – 2015

0

1000

2000

3000

4000

5000

6000

7000

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Wired internet advertising Newspaper publishing advertising

Radio advertising Television advertising

Eu

ro m

illio

ns.

Germany Austria

Eu

ro m

illio

ns.

0

100

200

300

400

500

600

700

800

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015



Romanian and Czech Republic Advertising Market.


Eu

ro m

illio

ns.

Romania Czech Republic

Eu

ro m

illio

ns.

0

50

100

150

200

250

300

350

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015



0

100

200

300

400

500

600

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015



Russian and Polish Advertising Market.


Eu

ro m

illio

ns.

Russia Poland

Eu

ro m

illio

ns.

0

200

400

600

800

1000

1200

1400

2006 2007 2008 2009 2010 2011 2012 2013 2014 20150

1000

2000

3000

4000

5000

6000

7000

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015



Goldbach goes Multi Screen


Goldbach «Bewegtbild» in any Channel - on any Screen.

TV / AdScreen Tablet Mobile PC


3 Mio. Swiss Citizens are Using Internet Streaming in 2011. Streaming on Internet-TV-, Video- and News-Platforms

5178

1406

2700

2059

3072 59 %

27.1 %

52 %

40 %

100 %

Internet TV: The Media of „Digital Natives“

32

Source: KommTech Studie 2012, IGEM and PublicaData. Daten für Personen über 15 Jahren, CH-Total

User Intensity TV (f.e. Wilmaa, Zattoo etc.)

/ Already half of the young Swiss people are using Internet TV such as Wilmaa or Zattoo

/ Over 23 % of this target group are using Internet TV once a week at least

27

2 3 5

16

49

6 7

10

26 28

2 3 5

18

23

0 2

5

16

9

1 1 2

5

NutzungInternet-TV

Täglich oderfast täglich

Mehrmals proWoche

Ungefähreinmal pro

Woche

Weniger alseinmal pro

Woche

Personen ab 15 Jahren 15-24 25-44 45-64 65+

15

20

27

0%

10%

20%

30%

40%

50%

Nutzung Internet-TV imJahresvergleich

Ante

il alle

r B

efr

agte

n

2009 2010 2011

+34%


The Goldbach Video Network ist THE Solution for

Modern, Cross Media Multi Screen Communication.

http://www.goldbachvideonetwork.com/


The Premium Partners in the Goldbach Video Network.

+ 30 Premium-Partners:

40 Mio. Video Views

Multi Screen Reporting Goldbach Video Network


Reporting für Swiss Premium Kampagnen (Beispiel)


Financial Results 2011 March 6th, 2012 / Stephan Bergamin


/ Strong Sales growth of +35.4% despite of negative currency impacts:

- Media +61.9% (currency adjusted +62.2%)

- Audience -15.4% (currency adjusted -9.3%)

- Interactive +4.1% (currency adjusted +9.4%)

/ EBIT Margin (Core Business) increase from 6.6% to 6.7%:

- Media: From 10.2% to 10.1%

- Audience: From 2.5% to 4.9%

- Interactive: From 8.5% to 5.9%

/ EBIT growth (Core Business) compared to PY of 38.4%:

- Media +59.9%

- Audience +62.0%

- Interactive -27.0%

Financial Highlights 2011

38

Goldbach Group Performance Since IPO.

Source: Bloomberg, 05.03.2012

Development since IPO

June 15th, 2007

Issue rate CHF 42.-

Goldbach Group -41.7%

Offline Peers -28.7% (Havas, Publicis, WPP, Aegis,

PubliGroupe, Edipresse,

Tamedia, JC Decaux)

Online Peers -72.5% (AdLINK Internet Media, Ad

Pepper Media, ValueClick,

TradeDoubler)

SWX Media Index -45.6%

SPI -25.7%

Goldbach Group compared to peer-groups & benchmarks

5

10

15

20

25

30

35

40

45

50

55

60

Jun-0

7

Sep

-07

Dec-

07

Mar

-08

Jun-0

8

Sep

-08

Dec-

08

Mar

-09

Jun-0

9

Sep

-09

Dec-

09

Mar

-10

Jun-1

0

Sep

-10

Dec-

10

Mar

-11

Jun-1

1

Sep

-11

Dec-

11

Mar

-12

Goldbach Group Offline Peers Online Peers SWX Media Index SPI


Explanatory comments

/ Major Changes in Scope of Consolidation:

- After the completion of the squeeze-out procedure of ARBOmedia AG, Munich in

August 2011, Goldbach Group owns 100% of the company. Subsequently the shares of

ARBOmedia were delisted from the Stock Exchange in Frankfurt.

- In the second half-year 2011 the group sold the two remaining Romanian print

publishing companies Dunarea de Jos S.A. and Grupul de Presa Medianet S.A. With

the sale of these two companies, the disposal of the Print business in Romania is

completed.

/ Change in Presentation of Operating Segments:

- Since January 1, 2011 Goldbach Group reports in 3 Business Lines. The former Offline

Segment is renamed to Business Line Media. The former Online segment is divided

into the Business Lines Interactive and Audience. The prior year figures were adjusted

accordingly.


Impact of one-time items in 2011 and 2010

1) Loss in relation to the sale of Print Business contains negative currency impact of CHF -1.6m

2) Figures relate to continuing operations in 2011


The Core Business Result excludes the Print Business in Romania (as it does not belong to the group‘s core operation) as well as positive and negative one-time

items above CHF 1m, mainly in connection with acquisition of ARBOmedia.

in CHFm2011

Reported

Disposal

Print

Business 1)

one-time

items

acquisition

ARBOmedia

-2011 Core

Business

delta

in CHFm

delta

in %

delta

in CHFm

delta

in %

Net Sales 446.0 - - - 446.0 116.6 35.4% 118.8 36.3%

EBITDA 37.3 - 4.0 - 33.4 8.2 28.3% 8.6 34.9%

EBIT 30.0 - -0.1 - 30.1 6.7 28.8% 8.3 38.4%

Net Profit 6.0 -2.5 0.1 - 8.4 0.9 18.7% -0.5 -6.1%

in CHFm2010

Reported 2) Print

one-time

items

acquisition

ARBOmedia

EU decision

on German

Tax Law

2010 Core

Business

Net Sales 329.4 2.2 - - 327.2

EBITDA 29.1 -0.7 5.1 - 24.7

EBIT 23.3 -0.9 2.4 - 21.7

Net Profit 5.1 -1.6 2.2 -4.5 9.0

2011

2010

Core BusinessReported


Key Figures – Reported Values

1) Figures relate to continuing operations in 2011

* Operating Expenses excluding Depreciation, Amortization and Impairments

** Includes Financial Result, Income Taxes and Non Controlling Interests

-100,000

-

100,000

200,000

300,000

400,000

500,000

Net Sales Gross Profit OPEX* EBITDA EBITOther

Expenses**Disc Ops

(Print) Net Income

YE 2010 1) 329,394 78,563 -49,471 29,092 23,293 -17,615 -607 5,071

YE 2011 446,030 99,044 -61,716 37,328 30,007 -21,384 -2,605 6,018

in T

CH

F

+26.1%

+24.8%

+28.3 % +28.8% +18.7%

+35.4%

+21.4%


Double Digit Sales Growth – adverse FX impact

/ Net Sales by Business Line

* Growth in Local Currency

-50,000

-

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

450,000

500,000

Media Audience InteractiveCorporate /

ConsoTotal Group

2010 208,602 88,845 37,578 -5,631 329,394

2011 337,724 75,173 39,135 -6,002 446,030

in T

CH

F

+61.9%

-15.4%

+4.1%

+35.4%+62.2%*

-9.3%*

+9.4%*

+37.9%*

-50,000

-

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

450,000

2010 2011

Interactive 37,578 39,135

Audience 88,845 75,173

Adscreen, TXT & Other 3,768 3,342

Radio 34,142 42,992

TV 170,692 291,390

Other & Consolidation -5,631 -6,002

Total Sales 329,394 446,030

Gro

wth

Ra

te:

+ 71%

+ 26%

-15%

+4%


Strong growth in TV and Radio

/ Net Sales by Productline & Relative share of Total 3rd Sales by

Productline

Gro

wth

Rate

:

Gro

wth

Rate

:

65%10%

1%

15%

9%

52%

11%1%

25%

11%


/ Gross Profit & Gross Margin

Increase in Gross Profit of +26.1%

-

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

100,000

2010 2011

Gross Profit 78,563 99,044

Gross Margin 23.9% 22.2%

in T

CH

F

Gross Profit +26.1%

Gross Margin -1.7 percentage

points due to Business Line

Media


/ Operating Expenses

OPEX increase of 24.9% vs Sales increase of 35.4%

-90,000

-80,000

-70,000

-60,000

-50,000

-40,000

-30,000

-20,000

-10,000

0

10,000

20,000

2010 2011

Other Opex -11,902 -12,110

Other Operating Income 9,405 6,989

Depr.,Amort. & Impairments -5,799 -7,321

IT & Communication -3,532 -3,127

Marketing & Research -5,698 -7,172

Personnel Expenses -37,744 -46,296

Total OPEX -55,270 -69,037

in T

CH

F


EBITDA and EBIT Core Result


The Core Business Result excludes the sold Print Business in Romania (as it did not belong to the group‘s core operation) as well as positive and negative one-time


/ EBITDA growth +34.9%

/ EBIT growth +38.4%

-

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

2010 2011

EBITDA 24,718 33,351

EBITDA Margin (in % of Net Sales)

7.6% 7.5%

in T

CH

F

EBITDA Margin -0.1

percentage points

EBITDA+34.9%

-

5,000

10,000

15,000

20,000

25,000

30,000

35,000

2010 2011

EBIT 21,744 30,086

EBIT Margin (in % of Sales)

6.6% 6.7%

in T

CH

F

EBIT Margin +0.1 percentage points

EBIT+38.4%


EBIT by Business Lines – Core Result

in T

CH

F


The Core Business Result excludes the sold Print Business in Romania (as it did not belong to the group‘s core operation) as well as positive and negative one-time


/ Media:

/ EBIT growth +60%

/ Audience:

/ EBIT-margin doubled

/ Interactive:

/ International Roll-out

-

5,000

10,000

15,000

20,000

25,000

30,000

35,000

2010 2011

EBIT 21,256 33,987

EBIT Margin 10.2% 10.1%

EBIT+59.9%

-

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

2010 2011

EBIT 2,258 3,657


EBIT+62.0%

-

500

1,000

1,500

2,000

2,500

3,000

3,500

2010 2011

EBIT 3,185 2,326


EBIT-27.0%

2010


Impact on key figures due to the strong growth in TV 2011

Net Sales

Gross Profit

OPEX (excl. amortization)

EBIT

/ Key Figures – Relative Share by Business Line (Core Result)

Media Audience Interactive

Media Audience Interactive

61%22%

17%

48%

25%

27%

85%

9%6%

64%

25%

11%

56%26%

18%

44%

34%

22%

80%

8%

12%

76%

15%

9%

-13,000

-11,000

-9,000

-7,000

-5,000

-3,000

-1,000

1,000

2010 2011

Financial Result -719 -857

Income Taxes -9,532 -7,767

Non Controlling Interests -7,364 -12,760

Net profit/(loss) f. disc.operations

-607 -2,605

Total -18,222 -23,989

in T

CH

F


/ Other Expenses, NCI, discontinued operations

Sale of Print and increase in Non Controlling Interests

1) 2010: EU Decision on German Tax Law („Sanierungsklausel“) led to a one-time tax expense of TCHF 4‘492

2) In 2011 the remaining two print publishing companies were sold and therefore classified as discontinued operation. 2010 Figures were

adjusted accordingly. The 2011 figures includes Foreign Exchange Losses of CHF -1.6m previously recorded in Equity.

1)

2)


/ Net Profit, share of Goldbach Group shareholders

Net Profit increase by 18.7%

5,071

6,018

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

2010 2011

in T

CH

F

Net Profit

+18.7%


Balance Sheet: Increased Equity

-

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

180,000

200,000

Dec 2010 Dec 2011 Dec 2010 Dec 2011

Equity 57,171 62,073

Non-current Liabilities 42,064 35,084

Current Liabilities 99,349 100,359

Non-current Assets 59,050 47,185

Current Assets 139,534 150,331

Total 198,584 197,516 198,584 197,516

in T

CH

F

70%

30% 24 %

76%

50%

21%

29% 31%

18%

51%


Equity ratio up from 28.8% to 31.4%

/ Equity, Equity Ratio

57.262.1

+18.8 -0.8 -2.0-12.2

+1.1

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

Equity Dec 10

Profit of the Year

CTA AcquisitionNCI

Dividends Other Movements

Equity Dec 11

in m

CH

F

Equity Ratio:28.8%

Equity Ratio:31.4%

0

20,000

40,000

60,000

80,000

100,000

120,000

Cash Balance YE 2010*

Operating CF Investing CF Financing CF FX Difference Cash Balance YE 2011

in T

CH

F

28'961-3'952 -17'702

-57374'359

67'625


/ Cash Flow Statement

Strong Operating Cash Flow

* Adjusted for the discontinued operations


/ Guidance: - Single-digit sales growth

- Increasing profitability and net profit

/ Depending on: - Macroeconmic development

- Development of FX-rates due to international exposure

Outlook.

GOLDBACH GROUP AG

Seestrasse 39

8700 Küsnacht

www.goldbachgroup.com

www.goldbachvideonetwork.com

Klaus Kappeler

Direkt +41 44 914 91 10

[email protected]

Stephan Bergamin

Direkt +41 44 914 91 30

[email protected]


All the opinions and forecasts contained in this presentation are expressed and made

exclusively by Goldbach Group. Opinions and forecasts are forward-looking statements

that use expressions such as "expect", "believe", "attempt", "estimate", "intend",

"assume", "try" and similar formulations. These statements express Goldbach Group's

intentions, views or current expectations and assumptions. These forward looking

statements are based on current plans, estimates and forecasts made by Goldbach

Group in good faith, but no claims are made for their future accuracy. Forward-looking

statements involve risks and uncertainties that tend to be difficult to predict and that do

not usually lie within Goldbach Group's sphere of influence, or that of persons working

with Goldbach Group. It should be noted that actual events and consequences may

differ from those expressed or contained in the forward-looking statements, or turn out

to be more negative than expressly or implicitly assumed or described in this

presentation. This presentation does not constitutes a recommendation to buy

Goldbach Group shares.

Disclaimer

Year End Closing 2011 - cdn.goldbach.com · Quelle: Netto Werbeaufwand Schweiz der Stiftung...

Documents

Transcript of Year End Closing 2011 - cdn.goldbach.com · Quelle: Netto Werbeaufwand Schweiz der Stiftung...