PowerPoint-Präsentation · 2016. 11. 3. · Q3 2015 Q3 2016 Press Presentation – At a Glance |...
Transcript of PowerPoint-Präsentation · 2016. 11. 3. · Q3 2015 Q3 2016 Press Presentation – At a Glance |...
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| October 13, 2016 |
The power of television
November 3, 2016
Q3 2016Press Presentation
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| November 3, 2016 |
The power of television
November 3, 2016
Q3 2016 – At a GlanceThomas Ebeling Chief Executive Officer
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Key financials in Q3 2016
3Continuing operations
[Q3 2016 vs. Q3 2015; in EUR m]
Revenues
Recurring EBITDA
Underlying net income
857 +15%
202
87
+13%
+11%
Press Presentation – At a Glance
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Q3 2016: Group revenue growth driven by all segments
4
Ext. segment revenues[in EUR m; growth rates in %]
+2% +23% +34%
Broadcasting German-speaking
Content Production & Global Sales Digital Entertainment Digital Ventures &
Commerce
+44%
[in EUR m]
8099
Q3 2015 Q3 2016
465 472
Q3 2015 Q3 2016
125
181
Q3 2015 Q3 2016
74100
Q3 2015 Q3 2016
Press Presentation – At a Glance
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2018 Group revenue growth target and achievement by Q3 2016
51) As of Q3 2016
Degree of achievement1) 59% 60%Pro-rata target 63% 63%
Required CAGR by 2018 +10% +7%
2018 Group revenue and rec. EBITDA target[in EUR m]
2018 segment revenue targets[in EUR m]
1,926
227108 95
2,188
447655
328
2,301
563
1,172
470
Broadcasting German-speaking
Digital Entertainment Digital Ventures &Commerce
Content Production &Global Sales
2018 target2012 Q3 2016 (LTM)
70% 65% 51% 62%63% 63% 63% 63%
+2% +11% +30% +17%
2,356
745
3,631
983
4,506
1,145
ProSiebenSat.1 Group Rec. EBITDA
Press Presentation – At a Glance
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| November 3, 2016 |
The power of television
November 3, 2016
Q3/9M 2016 – Financial Performance Dr. Gunnar WiedenfelsChief Financial Officer
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| November 3, 2016 || November 3, 2016 |
Q3/9M 2016: Group P&L – improvement of all key metrics
7Continuing operations; 1) Adjusted in underlying net income; 2) Result for the period attributable to shareholders of ProSiebenSat.1 Media SE; 3) Adjusted for valuation effects of Group Share Plan, PPA as well as valuation effects of at-equity investments, put-options and earn out liabilities and financial assets; 4) Restated due to retrospective adjustment of valuation effects of put-options and earn-out liabilities
[in EUR m] Q3 2016 Q3 2015 Δ 9M 2016 9M 2015 ΔRevenues 857 747 +15% 2,545 2,174 +17%Recurring EBITDA 202 178 +13% 626 568 +10%
Non-recurring items -13 -11 +15% -18 -30 -40%EBITDA 188 166 +13% 608 538 +13%
Depreciation and amortization -52 -35 +48% -138 -97 +43%Thereof PPA1) -14 -7 +94% -39 -18 >+100%
Operating result (EBIT) 137 131 +4% 470 441 +6%Financial result -35 -1 >+100% -69 -50 +38%
Thereof interest result -19 -23 -15% -65 -63 +3%Thereof valuation effects1) -9 28 ./. 7 22 -68%
Earnings before tax (EBT) 102 130 -22% 401 392 +2%Net income2) 68 73 -7% 271 252 +7%Underlying net income3) 87 794) +11% 294 2714) +8%
Press Presentation – Financial Performance
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| November 3, 2016 || November 3, 2016 | 8Financial leverage: Net debt/LTM rec. EBITDA (LTM rec. EBITDA of EUR 983m (previous year: EUR 893m) for continuing operations)
Net financial debt
1,953
466
2,419
0
500
1,000
1,500
2,000
2,500
3,000
30/09/2015 Change 30/09/2016
Financial leverage
2.2x
2.5x
Net debt[in EUR m]
Financial leverage at the end of Q3 2016 reflects M&A activity
Press Presentation – Financial Performance
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| November 3, 2016 |
The power of television
November 3, 2016
Q3 2016 – Operational PerformanceThomas Ebeling Chief Executive Officer
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Positive TV ad performance
101) Source: Nielsen Media Research; Note: Gross figures excl. YouTube and Facebook
Slight growth of P7S1 German-speaking TV advertising revenues in Q3
Continued increase of TV share in media mix1)
Continued positive pricing development
Growing number of addressable TV campaigns
Press Presentation – Operational Performance
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| November 3, 2016 || November 3, 2016 | 11Source: Warc International Ad Forecast 2016 (August 2016); ZenithOptimedia Advertising Expenditure Forecasts (September 2016); Magna Global (Broadcast TV, June 2016); SevenOne Media own estimate
+3.7% +3.0%
ProSiebenSat.1internal market estimate
+4.6%German net TV ad market estimates 2016
(previously +2-3%)
+2% plus
We assume more conservative TV ad market growth as industry analysts
Press Presentation – Operational Performance
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| November 3, 2016 || November 3, 2016 |
Macro indicators signal economic improvement after Brexit referendum
12Source: Bloomberg
Press Presentation – Operational Performance
Markit German Services PMIIFO Business Expectations Index
YTD 2016YTD 2016
48
49
50
51
52
53
54
55
56
Jan 2016 Apr 2016 Jul 2016 Oct 2016
Markit German Services PMI
94
96
98
100
102
104
106
108
Jan 2016 Apr 2016 Jul 2016 Oct 2016
IFO Business Expectations Index
Brexit referendum: 06/26/2016
Brexit referendum: 06/26/2016
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| Page 13| November 3, 2016 |
Extension of long-term cable distribution partnership
13
Press Presentation – Operational Performance
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| November 3, 2016 || November 3, 2016 |
We continue to successfully expand our strong Digital V&C portfolio
1) Strategic minority investment, closing envisaged in Q4 2016; 2) Stake raised from 29% to 49.9%, closing envisaged in Q4 2016
Online Travel Online Price Comparison Online Dating Lifestyle
Commerce
14
7NXT
Press Presentation – Operational Performance
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| November 3, 2016 || November 3, 2016 |
We invested in the fast growing online comparison portal KäuferPortal
1) Closing envisaged in Q4 2016
FinanceHome Service
15
Indoor Outdoor Real estate Pension Plan Insurance
Asset-light business with perfect fit to our investment strategy complementing Verivox with high-value products & services
KäuferPortal is the leading specialized online marketplace for complex investment goods and services
buyerinquiriesper year
>1.2m
42%P7S1
stake1)
Press Presentation – Operational Performance
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| November 3, 2016 || November 3, 2016 |
Parship as lighthouse investment in attractive Matchmaking segment
161) Germany; 2) Core market Germany, 2012-2015; Source: P7S1 analysis, Singleboersenvergleich market study (reported revenues for Parshipand ElitePartner, estimate for eDarling)
Attractive market with CAGR of >+10%2), high single-digit growth going forward
High-margin and asset-light consumer subscription business
Opportunity to increase rec. EBITDA margin to25-30%, up from 21% (2016E)
Considerable TV advertising and non-TV synergies expected
Notable cross-selling potential with lifestyle commerce assets
Investment rationaleKey players in Matchmaking segment1)
#1
#3
Continuous leadership in Matchmaking since 2006
#2
>80%share2)
Press Presentation – Operational Performance
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| November 3, 2016 || November 3, 2016 |
etraveli is delivering strong revenue growth in existing and new markets
1) USA, Canada, Taiwan, China and India; 2) Revenues from non-ticket sources, such as baggage fees and on-board food and services
Effective scale up of operations
Successful low cost internationalization
Increased ancillary revenues2)
17
5new countrieslaunched in
Q31)
New in Q3 Existing
etraveli’s international operations
Press Presentation – Operational Performance
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| November 3, 2016 || November 3, 2016 |
Our Online Price Comparison vertical more than doubled its revenues
18
External revenues
23
9
+172%
Q3 2016Q3 2015
[in EUR m] >+100%
Revenue drivers
Successful growth in energy pricecomparison segment despite seasonallylow switching activity in Q3
Significant conversion rate improvements and attractive product portfolio driving growth of telco price comparison segment
Revenue growth benefiting from remaining consolidation effects of Verivox acquisition
Press Presentation – Operational Performance
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| November 3, 2016 || November 3, 2016 |
We confirm our positive full-year guidance
19
Group revenue growth to exceed +15%
German TV ad market to grow 2% plus in 2016
Digital Entertainment and Digital Ventures & Commerce with double-digit revenue growth
Recurring EBITDA and underlying net income above prior year
P7S1 TV ad revenue growth slightly below market
Press Presentation – Outlook
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| November 3, 2016 || November 3, 2016 |
Disclaimer
20
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.
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| November 3, 2016 || November 3, 2016 |