PT Media Nusantara Citra

Transcription

1 Listed and traded on the Indonesia Stock Exchange STOCK CODE: MNCN PT Media Nusantara Citra Corporate Update April 2018

2 Disclaimer By attending this presentation, you are agreeing to be bound by the restrictions set out below. Any failure to comply with these restrictions may constitute a violation of applicable securities laws. The information and opinions contained in this presentation are intended solely for your personal reference and are strictly confidential. The information and opinions contained in this presentation have not been independently verified, and no representation or warranty, expressed or implied, is made as to, and no reliance should be placed on the fairness, accuracy, completeness or correctness of, the information or opinions contained herein. It is not the intention to provide, and you may not rely on this presentation as providing, a complete or comprehensive analysis of the condition (financial or other), earnings, business affairs, business prospects, properties or results of operations of the company or its subsidiaries. The information and opinions contained in this presentation are provided as at the date of this presentation and are subject to change without notice. Neither the company (including any of its affiliates, advisors and representatives) nor the underwriters (including any of their respective affiliates, advisors or representatives) shall have any responsibility or liability whatsoever (in negligence or otherwise) for the accuracy or completeness of, or any errors or omissions in, any information or opinions contained herein nor for any loss howsoever arising from any use of this presentation. In addition, the information contained in this presentation contains projections and forward-looking statements that reflect the company's current views with respect to future events and financial performance. These views are based on a number of estimates and current assumptions which are subject to business, economic and competitive uncertainties and contingencies as well as various risks and these may change over time and in many cases are outside the control of the company and its directors. No assurance can be given that future events will occur, that projections will be achieved, or that the company's assumptions are correct. Actual results may differ materially from those forecast and projected. This presentation is not and does not constitute or form part of any offer, invitation or recommendation to purchase or subscribe for any securities and no part of it shall form the basis of or be relied upon in connection with any contract, commitment or investment decision in relation thereto. This presentation may not be used or relied upon by any other party, or for any other purpose, and may not be reproduced, disseminated or quoted without the prior written consent of the company. Any investment in any securities issued by the company or its affiliates should be made solely on the basis of the final offer document issued in respect of such securities. The contents of this presentation may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published, in whole or in part, for any purpose. 2

3 Section 1 Corporate Structure

4 The Largest Fully Integrated Media Company in Southeast Asia FREE-TO-AIR TV CONTENT SUPPORTING ENTERTAINMENT PRODUCTION PRINT Studio based by 4 FTA RADIO Entertainment FTA focusing on family audience CONTENT LIBRARY PAY-TV CHANNELS TALENT / EVENT MANAGEMENT NEWS & SPORTS Largest news TV and programs (providing news programs to the Group s 3 entertainment FTA) Content library contains more than 300,000 hours and increasing by more than 15,000-20,000 hours per year 4

5 The Largest Content Producer CONTENT CONTENT LIBRARY PRODUCTION Pay TV Channel Drama, Talent Search, Animation, Sitcom, Movie 80% of our contents are local with more than 90% produced in-house Gradually reducing foreign content, due to low margin and high cost Targeting to increase local content to approximately 100% in 2018, which will lead to a decrease in programming cost and higher EBITDA Margin 5

6 The Largest and Leading Audience Share Content is where I expect much of the real money will be made on the Internet, just as it was in broadcasting. The television revolution that began half a century ago spawned a number of industries, including the manufacturing of TV sets, but the long-term winners were those who used the medium to deliver information and entertainment. Content is King by Bill Gates in 1996 Creating the best content is our top priority Content is the only way to capture audience share and monetize advertising dollars Indonesians love dramas and we broadcast many of the top drama series We have licensed popular International programs such as Master Chef, Indonesian Idol and X Factor More than 300,000 hours of content library and increasing by more than 15,000 20,000 hours annually We also have 20 MNC branded Pay TV Channels. These channels are integral to our content strategy Rank Station Target Dec-17 Audience Share 1 RCTI ABC SCTV ABCD ANTV ABC IVM ABCD MNCTV ABCD TRANS7 ABC GTV ABC TVONE ABC TRANS ABC METRO AB INEWS ABC 1.1 Source: Nielsen Prime-Time All Demographic 5+ Audience Share 6

7 The Best Talent Search Format Lineup Pioneering the international scale talent search programs in Indonesia, such as Indonesian Idol - 8 th season and running, X-Factor Indonesia - 2 nd season and running, Rising Star Indonesia - The 1 st Season with interactive talent search programs MasterChef Indonesia - 3 rd season and running The Voice Indonesia Aired February 2016 Our talent search programs are 3x more profitable than competing In-house dangdut singing competition 7

8 MNCN Dominates Top 20 Program as of 2017 New comedy drama series produced by MNC Pictures Dunia Terbalik performed very strong topping the program charts. 5 out of the Top 10 drama series for 2017 belongs to MNC NO PROGRAMS CHANNEL TYPE TVR SHARE 1 ANUGERAH CINTA RCTI Series DUNIA TERBALIK RCTI Series TUKANG BUBUR NAIK HAJI THE SER RCTI Series ANAK JALANAN RCTI Series SIAPA TAKUT JATUH CINTA SCTV Series ORANG-ORANG KAMPUNG DUKU SCTV Series ANAK LANGIT SCTV Series JODOH ANTV Series BOY SCTV Series CAHAYA HATI(A01) RCTI Series BUAYA PUTIH RCTI Series PESANTREN & ROCK'N ROLL 4 SCTV Series BERKAH CINTA SCTV Series TOP TUKANG OJEK PENGKOLAN RCTI Series AMANAH WALI RCTI Series GOPI ANTV Series SELEB DRAMA ANTV Series GEET ANTV Series JODOH PENGANTAR JENAZAH ANTV Series WARTEG DKI(R) ANTV Series Source: Nielsen, ALL DEMO, 5+ 8

9 All Contents Are Produced Using State-of-the Art Broadcasting Facilities Entertainment Based Infrastructure Integrated News Center MNC TV RCTI GTV INEWS 9

10 Section 2 Revenue Streams

11 TV Advertising Revenue Traditional TVC Commercial (15 and 30 ) during commercial break Advertising Revenue Stream Virtual ads Traditional TVC Build-In Advertising Built-in sponsorship and off air events Virtual Advertising on Drama Series (TOP) Virtual Advertising on Variety Shows (Dashyat) 11

12 Digital Mobile/ Online Advertising Revenue 12

13 Content Revenue All the local content is sourced from the Group/s content library and produced in house Library is monetized by selling to FTA, Pay-TV, and OTT in both Indonesia and Overseas Revenue is generated from advertising and subscription We are planning to supply 8 additional channel to Malaysia in Q Pay TV Produced for OTT Indonesia and overseas 13

14 Content Revenue (Including Digital Content) Content business is growing, content revenue is derived not only from FTA, but also from digital platforms in Indonesia and overseas More than hours of content library to sell 14

15 Section 3 Financial Updates

16 MNCN FS FY-2017 VS FY-2016 MNCN Recorded 16% Revenue Growth in Q Income Statements Actual Variance Actual Variance In IDR mio FY2017 FY2016 YoY Q Q YoY Revenues 7,052,686 6,730,275 5% 1,670,881 1,465,838 14% Advertisement 6,639,080 6,353,094 5% 1,617,382 1,457,129 11% RCTI 3,639,505 3,635,376 0% 895, ,265 6% Advertisement excl. RCTI 2,999,576 2,717,718 10% 721, ,864 17% Content 1,466,278 1,000,945 46% 441, ,429 49% Others 454, ,294-13% 123, ,348 2% Elimination (1,507,648) (1,145,058) 32% (510,792) (407,068) 25% Euro Revenue (RCTI) 230,000 Revenue (excl EURO) 7,052,686 6,500,275 8% 1,670,881 1,465,838 14% Direct Cost *) 2,486,511 2,719,126-9% 486, ,584-4% Depr & amort in Direct Cost 183, ,864 15% 46,387 66,837-31% Gross profit 4,382,213 3,851,285 14% 1,137, ,416 28% Gross profit margin 62% 57% 68% 61% General & Administrative expense 1,468,819 1,380,601 6% 383, ,239-5% Depreciation and amortization 247, ,497 69% 49,499 51,385-4% EBITDA 3,097,356 2,630,549 18% 800, ,014 45% EBITDA Margin 44% 39% 48% 38% Net Income 1,453,313 1,368,676 6% 331,554 (74,032) Net income margin 21% 20% 20% -5% 16

17 Financial Performance from FY2013 until FY2016 (Audited) FY2013 to FY2016 Financials IDR trillion 13,61 14,47 14,26 6,52 6,67 6,44 6,73 2,72 2,78 2,40 2,62 9,62 7,74 9,40 9,57 9, Revenue EBITDA Assets Equity FY2013 to FY2016 Solvency Metrics 66x 24% 45% 51% 51% 48x 12x 14x 42% 42% 37% 39% Debt/Equity EBITDA/Interest EBITDA Margin Source: Company Financials 17

18 Strong Revenue Growth with Increasing EBITDA Margins Room For Further Margins Improvement EBITDA margins (FY2011A 9M/FY2017A; FY2020E) 38% 42% 37% 38% 40% 39% 43% 44% 33% 2011A 2012A 2013A 2014A 2015A 2016A 9M M E 2011A 2012A 2013A 2014A 2015A 2016A 9M M E Source : Company information 18

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20 For further information, please contact Investor Relations Division: Tallytha Amanda Christy Kusuma Atmaja PT Media Nusantara Citra Tbk MNC Tower 29 th Floor Jl Kebon Sirih No Jakarta 10340, Indonesia Tel: Fax: Website: