FY 2018 Results Presentation FY 2017 Results Presentation Milan, 12 - - PowerPoint PPT Presentation

▶
fy 2018 results presentation
SMART_READER_LITE
LIVE PREVIEW

FY 2018 Results Presentation FY 2017 Results Presentation Milan, 12 - - PowerPoint PPT Presentation

Apr 17, 2023 251 likes •512 views

FY 2018 Results Presentation FY 2017 Results Presentation Milan, 12 th March 2019 Milan, 24 th April 2018 Transaction summary and rationale February 2019 FY 2017 Results Presentation Audience & Advertising Milan, 24 th April 2018

slide-1
SLIDE 1

FY 2017 Results Presentation

Milan, 24th April 2018

Transaction summary and rationale

February 2019

FY 2018 Results Presentation Milan, 12th March 2019

slide-2
SLIDE 2

FY 2017 Results Presentation

Milan, 24th April 2018

Transaction summary and rationale

February 2019

Audience & Advertising

slide-3
SLIDE 3

ITALY | Macroeconomic scenario

| 3 |

GDP & HH EXPENDITURE GOOD & SERVICE CONSUMPTION CONSUMPTION PRICES Inflation Rate (y.o.t monhtly var.) GOOD & SERVICE CONSUMPTION BY MACRO-SECTOR y.o.y montly growth rate, Source: CONFCOMMERCIO y.o.y growth rate

GDP

Inflation Rate (y.o.t monhtly var.) source: ISTAT

HH EXPENDITURE

SERVICES: + 1.4% AVG: + 0.4% GOODS: -0.1%

12M 2018

Recreational goods and services + 0.9% Hotels and eating out +1.4% Mobility goods and services +0.2%

  • Comunic. Goods and services

+3.5% Clothing and shoes

  • 1.6%

Home goods and services +0.7% Personal care goods & services + 0.9% Food, beverages and tobacco

  • 0.8%
  • 1
  • 0,5

0,5 1 1,5 2 2,5

gen-16 mar-16 mag-16 lug-16 set-16 nov-16 gen-17 mar-17 mag-17 lug-17 set-17 nov-17 gen-18 mar-18 mag-18 lug-18 set-18 nov-18

2018: AVG: +1.2

1.0 1.1 0.9 0.9 0.9 0.9 0.9 0.6 0.6 0.6 PROMETEIA (OCT. 18) ISTAT (NOV. 18) PROMETEIA (DEC. 18) BANCA ITALIA (JAN. 19) ISTAT (MAR. 19)

Key Economic Indicators

  • 3,0
  • 2,0
  • 1,0

0,0 1,0 2,0 3,0 4,0

slide-4
SLIDE 4

ITALY │Sector Analysis

| 4 |

Sales & AdEx Trend by Key Sector

  • 0.8

1.0

  • 3.4
  • 2.4
  • 1.6

0.2

  • 2.4

3.5 1.7 11.3

  • 8.9
  • 10.9
  • 5.9

2.7 1.9

  • 7.7
  • 15
  • 10
  • 5

5 10 15 Food Beverage Pers.Care Home Care Clothing Retail Auto Telco Sales AdEx

Source: Nielsen, Confcommercio, UNRAE * Automotive Sales to Consumers; Adex Personal Care includes Toiletries

Jan – Dec 2018

slide-5
SLIDE 5

ITALY | Analysis of the advertising market

| 5 |

2018 vs 2017 (Var %)

  • 0.2

0.6 5.5 4.5

  • 7.0

4.4 Tot.Adv Mkt TV Radio Internet Print OOH

Mediaset addressable adv market +0.7%

Source: Nielsen

slide-6
SLIDE 6

MEDIASET 2018 | Total advertising revenues

| 6 |

2018 vs 2017 (mio Eur)

2,095.4 2,112.2 2017 2018

+0.8%

slide-7
SLIDE 7

MEDIASET 2018 | Total advertising revenues

| 7 |

2018 vs 2017 (mio Eur)

0.8 2.6

  • 0.2

Mediaset Mediaset Like for Like* Total Market

*Taking out discontinuity of football in last 5 months 2018

+280 bps

slide-8
SLIDE 8

MEDIASET 2018 | Total advertising market share

| 8 |

Note: including World Cup

2018 vs 2016 (mio Eur)

37.5 38.2 39.0 2016 2017 2018 +150 bps

slide-9
SLIDE 9

MEDIASET 2018│Audience performance

| 9 |

Source: Auditel, Live+Vosdal

Core channels vs multichannels, commercial target (15-64 yrs, 24H)

Jan – Dec 2018 3.5 35.2 9.8 8.2 12.8 30.5 Mediaset Rai La7 25.9 23.5 2.1 25.8 23.2 2.9 Mediaset DTT (Free+Pay) Rai DTT Discovery Sky Channels Fox Channels La7 D 9.2 7.6 8.5 8.8 1.4 0.6 9.5 7.3 8.2 8.5 1.3 0.6 Sky+Fox

  • 0.4

Mediaset +0.2

La7 +0.8 Rai

  • 0.6

Other +0.3 Discovery

  • 0.3

CORE CHANNELS MULTICHANNELS 2017 2018

slide-10
SLIDE 10

MEDIASET 2018│Advertising breakdown by sector

| 10 |

2018 vs 2017 3.5 23.8 14.4 8.2 12.4 3.6 7.9 6.0 20.3 Food +4.3% No Food

  • 7.0%

TLC

  • 3.3%

Auto +6.0% Media 0.4% Pharma

  • 1.9%

Retail +10.1% Other

  • 0.7%

MS TREND better than Total Adv Market MS SHARE better than Total Adv Market

Finance +6.7%

Source: Nielsen

slide-11
SLIDE 11

MEDIASET 2018│Advertising and audience performance

| 11 |

Leading TV audience share: 35.2% on commercial target (15-64 yrs, 24 H) Mediaset FTA business delivering positive growth and outperforming the TV market by 50 bps Cross media strategy enabling advertising market share expansion in 2018 vs 2017: +80 bps, reaching 39.0% Double digit yoy revenues growth in Radio & Digital Successful launch of 2 new thematic channels: 2.6% audience share contribution (good performance on core target, men 25-54 yrs)

slide-12
SLIDE 12

MEDIASET│ Audience and Advertising Key drivers for 2019

| 12 | Key Drivers 1Q 2019 2Q 2019 3Q 2019 4Q 2019 Notes

Core channels

  • Increased investment in owned productions

Thematic channels

  • Leadership of our thematic channel portfolio
  • Positive comparison vs 1H 2018 (+2 channels)

MS-Sky agreement

  • Audience

share increase for Mediaset Premium Cinema and Series channels

  • Audience share increase for FTA channels on

25-54 yrs target (core)

“Advanced TV” & All Addressable Adv

  • Advanced

TV Offer in continuous development - DAI project in 2H 2019

  • Development of Unique Selling Proposition

All Addressable Adv Offer across TV, Digital & radio

slide-13
SLIDE 13

FY 2017 Results Presentation

Milan, 24th April 2018

Transaction summary and rationale

February 2019

Financials

slide-14
SLIDE 14

MEDIASET GROUP FY 2018 | P&L Highlights

(Euro mio)

FY 2017 FY 2018 FY 2018 adjusted

Net Consolidated Revenues 3,550.1 3,401.5 Italy 2,555.3 2,421.4 Spain 996.3 981.6 EBITDA 1,281.5 1,066.1 1,192.8 Italy 832.6 639.7 766.4 Spain 449.1 427.1 EBIT 226.4 73.7 347.7 Italy (19.1) (182.9) 91.1 Spain 245.3 256.9 NET PROFIT 90.5 471.3

*FY2017 and 9M2018 EI Towers results are reclassified in the discontinued operations line ** FY2018 financials of Mediaset Italy adjusted to exclude impact from non-recurring items (write-downs, one-offs)

*

Group Net Financial Position (1,392.2) (736.4) Italy (1,527.5) (904.3) Spain 135.3 167.8

** | 14 | *

slide-15
SLIDE 15

MEDIASET ITALIAN BUSINESS FY 2018 | Integrated Tv activities

(Euro mio)

FY 2017 FY 2018 Lay off Write-downs One-offs- restructuring items FY 2018 adjusted Total Net Revenues 2,555.3 2,421.4 2,421.4 Total gross adv. revenues 2,095.4 2,112.2 2,112.2 Commissions (300.3) (301.2) (301.2) Total net adv. revenues 1,795.1 1,811.0 1,811.0 Pay Tv revenues 587.4 366.0 366.0 Other revenues 172.8 244.4 244.4 Total Costs (2,574.4) (2,604.3) 30.3 181.7 62.0 (2,330.4 ) Personnel costs (381.5) (389.2) 30.3 (359.0) Other Operating costs** (1,341.2) (1,392.5) 34.4 62.0 (1,296.2) Rights amortisazion (767.8) (731.5) 141.2 (590.3) Other D&A (83.9) (91.1) 6.2 (84.9) Operating Profit (19.1) (182.9) 91.1

* *

| 15 |

**FY2017 and 9M2018 EI Towers results are reclassified in the discontinued operations line ** including costs vs EI Towers: 180.3 mio (FY2017) and 181.9 mio (FY2018)

slide-16
SLIDE 16

MEDIASET ITALIAN BUSINESS FY 2018 | P&L results

(Euro mio)

FY 2017 FY 2018

Operating Profit Adjusted 0.4 91.1

* * | 16 |

*FY2017 and 9M2018 EI Towers results are reclassified in the Discontinued operations line **Including 40% in 2iTowers Holding S.p.A. starting from 4Q2018 ***Including 498.2 mio of capital gain from the EI Towers S.p.A. disposal

Operating Profit (19.1) (182.9) Financial Income (Losses) (14.1) (14.6) Associates** 5.5 (1.0) Pre-Tax Profit (27.7) (198.4)

.

Taxes (10.4) 45.9 Minorities 5.5 0.4 Discontinued operations*** 22.7 520.0 Net Profit (9.9) 367.9

slide-17
SLIDE 17

MEDIASET ITALIAN BUSINESS FY 2018 | Investments

394.8 426.4 43.0 30.0

(Euro mio)

TV rights and cinema Technical & immaterial Total Investments FY 2018 FY 2017 469.4 424.8

* * | 17 |

**FY2017 and 9M2018 EI Towers results are reclassified in the discontinued operations line

slide-18
SLIDE 18

MEDIASET ITALIAN BUSINESS FY 2018 | Cash flow statement

(Euro mio)

FY 2017 FY 2018

Initial Net Financial Position (1/01) reported (1,339.8) (1,527.5) Cash Flow from Operation 743.2 627.0 Investments (424.8) (469.4) Disinvestiments 7.0 14.7 Change in Net Working Capital (CNWC) (437.9) (184.1) Cash Flow from Core Activities (112.5) (11.9) Equity (investment)/disinvestment (31.4) (483.1) Dividends received 154.2 129.3 Change in consolidation area (22.9) 671.2 Net Cash Flow (12.5) 305.5 Net Cash Flow discontinued operations (175.1) (40.1) Net financial position discontinued operations 357.8 Final Net Financial Position (31/12) (1,527.5) (904.3)

* * | 18 |

Pro-forma Net Financial Position (01/01/2019)** (1,036.3)

**FY2017 and 9M2018 EI Towers results are reclassified in the discontinued operations line **Including financial liabilities according to IFRS 16 (estimate)

slide-19
SLIDE 19

FY 2017 Results Presentation

Milan, 24th April 2018

Transaction summary and rationale

February 2019

Back up

slide-20
SLIDE 20

MEDIASET SPANISH BUSINESS | Back up Slides

| 20 |

slide-21
SLIDE 21

MEDIASET ESPANA FY 2018 | P&L Results

(Euro mio)

FY 2017 FY 2018

Net Consolidated Revenues 996.3 981.6 Personnel (105.6) (107.8) Other Operating Costs (441.5) (446.6) EBITDA 449.1 427.1 Amortisation & Depreciation (203.8) (170.2) EBIT 245.3 256.9 Financial Income (loss) (1.2) (1.6) Associates 3.3 10.3 Pre-Tax Profit 247.4 265.6 Taxes (50.1) (65.3) Net Profit 197.5 200.3

| 21 |

slide-22
SLIDE 22

MEDIASET ESPANA FY 2018 | Investments

153.8 128.0 11.2

(Euro mio)

Tv rights and cinema Co-production Total Investments 187.4 149.2 FY 2018 FY 2017 10.0 14.2 Tangible & Intangible fixed assets 19.4

| 22 |

slide-23
SLIDE 23

MEDIASET ESPANA FY 2018 | Cash Flow Statement

(Euro mio)

FY 2017 FY 2018

Initial Net Financial Position (1/01) 177.4 135.3 Free Cash Flow 229.3 223.4

  • Cash Flow from Operations

424.1 399.6

  • Investments/Disinvestiments

(187.4) (149.2)

  • Change in Net Working Capital (CNWC)

(7.4) (27.0) Change in Equity (4.3) 0.1 Financial investments 6.8 4.1 Dividends received 2.3 2.4 Dividends paid (175.7) (197.5) Treasury shares (100.5) 0.0 Total Net Cash Flow (42.1) 32.5 Final Net Financial Position (31/12) 135.3 167.8

| 23 |

slide-24
SLIDE 24

FY 2017 Results Presentation

Milan, 24th April 2018

Transaction summary and rationale

February 2019

| 24 |

Forward-looking Statements

Statements contained in this document, particularly the ones regarding any Mediaset Group possible

  • r assumed future performance, are or may be forward looking statements and in this respect they

involve some risks and uncertainties. Mediaset Group actual results and developments may differ materially from the ones expressed or implied by the above statements depending on a variety of factors. Any reference to past performance of Mediaset Group shall not be taken as an indication of future performance. This announcement does not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein. The executive responsible for the preparation of the Mediaset S.p.A. accounts, declares that, as per

  • para. 2 art. 154-bis, of the “Testo Unico della Finanza”, that the accounting information contained in

this document corresponds to that contained in the company’s books.

Investor Relations Department:

Tel: +39 02 2514.7008 Fax: +39 02 2514.6719 Email: investor.relations@mediaset.it WebSite: www.mediaset.it/investor