1 st Quarter 2013 Financial & Operating Results The Chronicle - - PowerPoint PPT Presentation

1st Quarter 2013 Financial & Operating Results

The Chronicle Lounge 14/F Eugenio Lopez Jr. Communications Center Eugenio Lopez Ave., Q.C. 15 May 2013

3,568 4,368 2,963 3,510

• 1,000

2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 1Q12 1Q13

Airtime Revenues Consumer Sales

7,878

21%

Consolidated Revenues

6,531

2

45% 55% 45% 55%

Without election-related advertising, revenues were up 15%

Php Millions

Consolidated Advertising Revenues

Php Millions

22% YoY

3,568 4,368 1,000 2,000 3,000 4,000 5,000 1Q12 1Q13

3

Without election-related ads, advertising revenues were up 12%.

41 46 32 30 13 11 15 14 ABS-CBN GMA TV 5 Others

National Ratings – Total Philippines (Urban + Rural)

4

Total Day Audience Share Evening Primetime Audience Share

Kantar Media/TNS National Philippines TV Audience Shares (January – March 2013)

Kantar Media/TNS National Philippines (Urban+Rural) January – March 2013

Top 15 Programs are from ABS-CBN

5

Rank Channel Program Ratings 1 ABS-CBN Juan dela Cruz 36.9 2 ABS-CBN Ina Kapatid Anak 34.6 3 ABS-CBN Juna dela Cruz Ang Simula 33.5 4 ABS-CBN Wansapanataym 31.5 5 ABS-CBN Princess and I 31.0 6 ABS-CBN MMK Ang Tahanan Mo 30.6 7 ABS-CBN Pilipinas Got Talent Saturday 28.7 8 ABS-CBN TV Patrol Weekday 28.3 9 ABS-CBN Be Careful With My Heart 26.7 10 ABS-CBN Aryana 26.6 11 ABS-CBN Pilipinas Got Talent Sunday 25.2 12 ABS-CBN Apoy Sa Dagat 24.6 13 ABS-CBN Kapamilya Deal Or No Deal 23.6 14 ABS-CBN Rated K Handa Na Ba Kayo? 23.4 15 ABS-CBN Goin' Bulilit 22.1 16 GMA Kapuso Mo, Jessica Soho 20.8 17-18 GMA Pepito Manaloto Ang Tunay Na Kuwento 20.3 17-18 GMA Magpakailanman 20.3 19 GMA Indio 19.7 20 ABS-CBN MasterChef Pinoy Edition Live Cook Off 19.2

2,963 3,510 1,000 2,000 3,000 4,000 5,000 1Q12 1Q13

Consumer Sales

Php Millions

18% YoY

6

7

2,963 1,194 1,152 617 3,510 1,135 1,643 732 1,000 2,000 3,000 4,000 Total Global SkyCable Others 1Q12 1Q13

18% 5% 43% 19%

Php Millions

Consumer Sales

8

• TOTAL REVENUES: Increased 2% in USD terms,

declined by 4% in Php

• Viewer count increased by 4%
• Continued growth in Canada, Asia Pacific, Australia

and North America

• Remittance revenues up by 21%

• Strong revenue growth of

43%; without Destiny, revenues grew 13%

• Total broadband revenues

grew 51%

• Total postpaid cable revenues

grew by 46%

9

1,152 1,643 500 1,000 1,500 2,000 1Q12 1Q13

43%

Revenues

Php Millions

ABS-CBN Film Productions

3 of 6 films released in 1Q13 broke past the Php 200 million mark in gross box office receipts

10

11

Costs & Expenses

6,173 7,195 2,000 4,000 6,000 8,000 10,000 1Q12 1Q13

17%

Php Millions

Without non-recurring expenses, costs were up by only 13%

2,477 2,089 388 2,717 2,222 495 500 1,000 1,500 2,000 2,500 3,000 Production Costs Cash Non-cash 1Q12 1Q13

12

Production Costs

10% 6% 28%

Php Millions

1,782 552 783 447 2,090 536 1,009 545 1,000 2,000 3,000 Total Global SkyCable Others 1Q12 1Q13

13

Cost of Sales and Services

17% 3% 22% 29%

Php Millions

1,913 1,747 166 2,390 2,242 148 1,000 2,000 3,000 Total Cash Non-Cash 1Q12 1Q13

14

General & Administrative Expenses

25% 11% 28%

Php Millions

Without non-recurring expenses, GAEX was up by only 14%

Consolidated Net Income

15

306 508 200 400 600 800 1Q12 1Q13

66%

Php Millions

15

1,362 1,905 1,000 2,000 3,000 1Q12 1Q13

Consolidated EBITDA

16

40%

Php Millions

Cash Capital Expenditure & Film Rights

1,065 1,059 500 1,000 1,500 2,000 1Q12 1Q13

17

1% YoY

Php Millions

Balance Sheet Accounts

Total Assets Cash and Cash Equivalents Trade Receivables Day’s Sales Outstanding Total Interest Bearing Debt Shareholders’ Equity Net Debt-to-Equity Ratio Php49.5B Php51.7B Php6.4B Php 7.1B Php6.8B Php 7.1B 78 days 79 days Php15.8B Php15.6B Php21.5B Php22.4B 0.44x 0.38x 4% 12% 4% 1 day 1% 4% 0.06x Dec 2012 Mar 2013

ABS-CBN to Raise P4 Billion in New Equity

Capital International Private Equity Fund VI, L.P. and affiliated funds (collectively “CIPEF”) agreed to subscribe to P2.5 billion worth of new Philippine Deposit Receipts (“PDRs”) to be issued by ABS-CBN Holdings Corporation (“ABS-CBN Holdings”) (PSE: ABSP), which will in turn subscribe to the same number of newly issued common shares of ABS-CBN Corporation (“ABS-CBN”) (PSE: ABS). Lopez, Inc. has also agreed to subscribe to P1.5 billion worth of new common shares of ABS-CBN. This allows ABS-CBN to raise P4 billion. The new PDRs to be issued to CIPEF have been priced at P43.225 per PDR. The new shares to be issued to Lopez, Inc. have also been priced at P43.225 per share. The price represents 2.1% discount to the 45-day volume-weighted average price for ABS-CBN PDRs and 3.2% premium to the 45-day volume-weighted average price for ABS-CBN common shares as of May 14, 2013. The PDR subscription and the share subscriptions are expected to be completed within 2013. ABS-CBN Holdings is expected to complete its share subscription on or before June 10, 2013 to allow it to subsequently issue the new PDRs to the CIPEF. At the completion of the share subscriptions and the PDR subscription, Lopez, Inc. will hold 56% of the outstanding common shares and will retain voting control of 79% of all outstanding shares. The PDR issuance by ABS-CBN Holdings and the issuance of new common shares by ABS- CBN take advantage of the favorable performance of Philippine Stock Exchange in general and particularly, ABS-CBN PDRs and shares. The funds raised from this exercise will be used towards initiatives to further expand the distribution of ABS-CBN content to the widest array of platforms available, including Digital Terrestrial Television. ABS-CBN Chairman Eugenio Lopez III remarked, “We are glad to have earned the support of

• ur controlling shareholder and one of the world’s largest investment management and private

equity firms in our pursuit to deliver enhanced value to all of ABS-CBN’s stakeholders.” ING Bank N.V. acted as financial advisor to ABS-CBN for the transaction.