GRUPO ANTENA 3 PRESENTATION TO INVESTORS. European TMT Conference Deutsche Bank. September 2011

Transcription

1 GRUPO ANTENA 3 PRESENTATION TO INVESTORS European TMT Conference Deutsche Bank September 2011

2 1 WHAT THE PLAYING FIELD LOOKS LIKE 2 HOW WELL WE ARE PLAYING THE GAME 2

3 1 WHAT THE PLAYING FIELD LOOKS LIKE......ANTENA 3 S RELEVANT MARKET 3

4 Total advertising market (I) Total Ad market evolution In mill Ad market is currently at 2003 levels 5, % 7,985-30% 5,631 0% 5, * Source: Infoadex * Consensus 4

5 Total advertising market (II) Market share by media TV keeps leading. Radio stays stable 41.6% 39.5% TELEVISION NEWSP.& MAGAZ. 42.3% 27.3% 9.1% 8.4% 1.3% RADIO OTHERS INTERNET 13.5% 9.4% 7.6% Source: Infoadex 5

6 TV advertising market TV Ad market vs GDP 2003=100 Spanish TV Ad market overreacted to GDP drop TV Ad/GDP 0.31% 0.23% GDP Total Ad TV Ad Source: Infoadex for TV Ad + BdE for GDP. In nominal terms 6

7 TV habits in Spain Average daily viewing in min TV viewing TV viewing is still increasing +24 min/viewer Source: Kantar Media 7

8 TV: best competitive position Competitive position by media 88% Coverage by media 4 58% 50% 38% 42% TV, the highest coverage and the best price CPT by media In /1,000 impacts TV Radio Magazines Press Internet Source: Coverage: 2 rd EGM survey 2011; CPT 2010 (Cost per thousand): Internal estimates 8

9 Audience share by channel Audiences 2011 YTD Clear audience fragmentation 14% 10% 6% 2% Source: Kantar Media 9

10 Competitive landscape Number of FTA TV players In million 3,469 TV Ad market 2,317 2,378 2,472 Number of players is adjusting to Ad market Net TV/ Veo TV Source: Infoadex 10

11 Market share concentration Market share by FTA TV players Two main players hold 75% market share 53% Antena 3 / Mediaset La Sexta Veo TV/Net TV 75% 12% 2% Private FTA TVs 16% 30% Forta TVE 10% Public FTA TVs e Source: Infoadex 11

12 Radio habits in Spain Radio listening Number of radio listeners in Spain (thousands) The highest number of listeners ever seen +2.1 million listeners 23,117 24,174 22,030 21,456 22,062 22,299 21,718 22,489 1ª 04 1ª 05 1ª 06 1ª 07 1ª 08 1ª 09 1ª 10 1ª 11 Source: EGM Moving Average 12

13 2 HOW WELL WE ARE PLAYING THE GAME......ANTENA 3 S COMPETITIVE POSITION 13

14 Antena 3 s performance A3 vs TV Ad market % Ad revenues growth yoy 20% 24% 18% Ten consecutive quarters outperforming TV Ad market Antena 3 TV -10% 6% 2% 12% 6% 12% 6% -3% 1% -3% -24% -29% -19% -11% -14% -26% -34% TV Ad Market Q109 Q209 Q309 Q409 Q110 Q210 Q310 Q410 Q111 Q211 Source: Infoadex 14

15 Antena 3 s market share evolution Advertising market outlook The highest market share over the last years 28.3% 26.3% 27.9% 26.2% 24.1% 24.6% 1.3x 1.3x 22.4% 1.3x 1.7x 1.4x 21.3% 1.3x 1.5x 20.8% 19.6% 30.1% 1.8x Market share Power ratio Audience share 17.8% 17.0% 16.6% 15.8% 16.5% H 11 Source: Infoadex + Kantar Media 15

16 Antena 3: Audience shares Audience shares In % A3, the best performance in audience share over the last year pc -1.9pc +1.4pc -0.9pc +0.9pc 1H 10 2H 10 1H 11 Source: Kantar Media 16

17 Antena 3, a well-balanced grid Our programming grid Our best asset: A varied and balanced grid Talk shows Entertainment News Fiction & Cinema 17

18 Advertising bundling: An unique commercial approach Advertising bundling Advertising bundling, a succesful strategy Age 4-12 Male Female Advertising bundling 18 Antena 3 DB TMT Conference_Sep 11

19 OPEX evolution In real terms Antena 3 s OPEX evolution Discipline in costs, ambitious outsourcing process achieved Group OPEX CAGR: -0.4% CAGR: +0.9% TV OPEX Source: A3 s financial statements 19

20 Antena 3 s performance A3 s performance vs Ad market In mill 3,469 Well positioned for a recovery in Ad market 2,317 TV Ad market A3 s TV revenues 878 2, , EBITDA margin 35% 21% 21% A3 s TV OPEX Source: Infoadex + A3 s financial statements 20

21 Antena 3 Radio (Uniprex) Number of listeners In 000 Antena 3 Radio, doubling the number of listeners 2,132 x2 4, , ,492 1,968 2nd 05 2nd 11 Source: EGM surveys 21

22 Antena 3 Radio (Uniprex) Antena 3 Radio s competitive position Antena 3 Radio, excellent position to gain size Others Audience share Market share 24% 16% UNIPREX UNIPREX Others 14% COPE 42% 2nd 11 H % 46% 35% SER SER Source: EGM, 2nd Survey 2011, Infoadex 22

23 Antena 3 Multimedia Internet division CONTENTS DISTRIBUTION EXPLOITATION Revenue-based strategy in multimedia From TV (in house production) INTERNET ADV. REVENUES (i.e. Preroll) Exclusive Content (i.e El Sótano) MOBILE OTHERS (i.e. Prepay, online game,..) SOCIAL NETWORKS 23

24 Antena 3 Multimedia Internet division In mill Strong performance in every business indicator x x H H1 11 Unique Users (monthly avg) Video streams (monthly avg) Monthly average Source: OJD/Nielsen Market Intelligence/ Smartadserver 24

25 Conclusions When the going gets tough, the tough get going In pole position to ride the wave of Ad growth Fit enough to do things our way Antena 3, challenges are opportunities 25

26 GRUPO ANTENA 3 Committed with Corporate Social Responsability:

27 Back up slides 27

28 Consolidated Group 1H 11 Results in mill: P&L 1H 11 1H 10 YoY Net Revenues % OPEX % EBITDA EBITDA Margin 18.5% 20.3% Net profit Net profit Margin 12.8% 13.6% -9.3% -6.4% Source: Antena 3 s financial statements 28

29 Television division 1H 11 Results in mill: OPEX breakdown 1H 11 1H 10 YoY Programming Costs Personnel Costs % -28.9% Other Costs % Total OPEX % Source: Antena 3 s financial statements 29

30 Radio division 1H 11 Results in mill: P&L 1H 11 1H 10 YoY Net Revenues % OPEX % EBITDA EBITDA Margin 27.3% 28.5% EBIT EBIT Margin 23.7% 25.3% -5.1% -7.2% Source: Antena 3 s financial statements 30

31 Additional information Investor Relations Department Phone: Web: Legal Notice The information contained in this presentation has not been independently verified and is, in any case, subject to negotiation, changes and modifications. None of the Company, its shareholders or any of their respective affiliates shall be liable for the accuracy or completeness of the information or statements included in this presentation, and in no event may its content be construed as any type of explicit or implicit representation or warranty made by the Company, its shareholders or any other such person. Likewise, none of the Company, its shareholders or any of their respective affiliates shall be liable in any respect whatsoever (whether in negligence or otherwise) for any loss or damage that may arise from the use of this presentation or of any content therein or otherwise arising in connection with the information contained in this presentation. You may not copy or distribute this presentation to any person. The Company does not undertake to publish any possible modifications or revisions of the information, data or statements contained herein should there be any change in the strategy or intentions of the Company, or occurrence of unforeseeable facts or events that affect the Company s strategy or intentions. This presentation may contain forward-looking statements with respect to the business, investments, financial condition, results of operations, dividends, strategy, plans and objectives of the Company. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company s current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of factors, including political, economic and regulatory developments in Spain and the European Union, could cause actual results and developments to differ materially from those expressed or implied in any forward-looking statements contained herein. The information contained in this presentation does not constitute an offer or invitation to purchase or subscribe for any ordinary shares, and neither it nor any part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. 31