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Half-year figures 2015, 20 August 2015, BMK Half-year figures 2015 Media and analyst information Thursday, 20 August 2015, Zurich

Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

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Page 1: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK

Half-year figures 2015 Media and analyst information Thursday, 20 August 2015, Zurich

Page 2: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK 2

Christoph Tonini Chief Executive Officer

First-half 2015: overview

Page 3: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK 3

Stable profitability despite economic slowdown

Revenue and net income 2015-6 in CHF millions

EBIT margin

2015-6 13.6%

2014-6 13.9%

59.276.4

111.3

551.4

71.672.4107.0

530.7

-5%

Net income Revenue

-4%

-4%

EBITDA

+21%

EBIT

2015-6

2014-6

EBITDA margin

2015-6 20.2%

2014-6 20.2%

Page 4: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK 4

Digital offerings with 27% revenue and 36% net income share

Pro-forma revenue share of digital offering in per cent

6.4%

20.3%

Digital publishing offerings

Digital business division

6.0%

30.8%

8.7%

27.5%

Revenue and net income of regional and national digital news platforms now in the

Publishing Regional and Publishing National business divisions respectively

Pro-forma EBITDA share of digital offering in per cent

Pro-forma EBIT share of digital offering in per cent

Page 5: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK

The economic environment is deteriorating overall…

Source: advertising statistics from Verband Schweizer Presse

Change in net revenue for print advertising

5

-6% -19% -13%

-4%

-9% -8%

June May April March February January July

-14%

2015

2014

Source: State Secretariat for Economic Affairs SECO

Change in GDP compared to prior quarter

-0.2

0.50.6

0.2

0.5

2014-4 2015-1 2014-3 2014-2 2014-1

Euro effect at Tamedia

• Cheaper paper purchasing from 2016 • Lower expenditure at Metroxpress • Around 10 per cent of expenses in

foreign currency (EUR and DKK)

Economy is key

• Direct EUR/CHF exchange rate effects are manageable

• Impact on the domestic economy and advertising spending by businesses are key factors

+

• Lower contributions to net income by commuter newspaper L’essentiel and vintage fashion platform Trendsales

• Around 5 per cent of revenue is in foreign currency (EUR and DKK)

Page 6: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK 6

Net advertising revenue in CHF millions in comparison with the prior year

… and this has contributed to a decline in print advertising

197

236

152

-3%

-1%

-6%

-10%

-16%

-14%

Daily press I

149

Daily press II/III

16 17

Regional weekly press

63 70

Sunday press

85

14 17

General press (magazines)

87

Financial and business press

2014-6

2015-6

Publishing Regional

Publishing National Publishing National Publishing National

Publishing Regional

Publishing National

Source: advertising statistics from Verband Schweizer Presse

Publishing Regional

Page 7: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK 7

Online advertising revenue 2005-2014 (in CHF millions)

Source: MediaFocus online report 2005 to 2014

Online advertising continues to increase in importance in 2015

4039

6763

9688

417352

210

186

224

2006

156

2005

107

300

2007 2008

452

2009

16

2012

674

2011

359

2010

521

848

18

Annual growth rate +26%

2014

+14%

2013

744

Job classified

Affiliate marketing

Search & find

Display advertising

Real estate classified

Car classifieds

74

2015-6 2014-6

86

+17%

Growth in display advertising

in CHF millions as per

Mediafocus advertising

market report*

Further growth of overall online market in 2015

* The statistical basis cannot be compared like-for-like with the MediaFocus online report.

Page 8: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK

Tamedia total

Digital

Publishing National

Publishing Regional

8

Organic revenue growth of 3 percent in the Digital segment

Organic revenue growth in CHF millions

-7%

-21

2015-6

263

2014-6

284

-6% -11

2015-6

187

2014-6

198

+3% +3

2015-6

102

2014-6

99

552**

-5%

2015-6

-29

2014-6

581*

Tamedia total

Digital

Publishing National

Publishing Regional

Consolidated revenue growth in CHF millions

102

+9%

108 +9

2015-6

5

2014-6

99

581

557**

2015-6

-4%

-23

2014-6

552

5 581*

*Figures before intersegment eliminations of CHF 29 million ** Figures before intersegment eliminations of CHF 27 million

-21

-7%

284

2014-6 2015-6

263

2015-6 2014-6

-11

187 198

-6%

Page 9: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK 9

Digital with strong growth and significant EBIT share

27.347.1

255.8

23.842.3

237.3

EBIT EBITDA Revenue

Publishing Regional in CHF millions

Digital in CHF millions

Revenue share

Publishing National in CHF millions

35.538.6

196.6

33.336.3

185.5

EBIT EBITDA Revenue

EBITDA share

45%

EBIT share

37%

Revenue share EBITDA share EBIT share

Revenue share EBITDA share EBIT share

29%

16.728.798.9

21.234.3107.8

EBIT EBITDA Revenue

2015-6

2014-6

35% 32% 43%

20% 31% 28%

Third-party revenue, excluding intersegment revenue

Page 10: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK 10

Publishing Regional: regional media and printing facilities

Regional media Regional media

Weekly newspapers

Printing facilities

Weekly newspapers

Printing facilities

Until 31.12.2015

Page 11: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK

Regional: drop in advertising revenue leads a fall in net income

Business division overview

• Revenue fell due to a significant drop in advertising revenue

• Efficiency gains helped to partially offset the drop in advertising revenue

• Successful introduction of digital payment model at 24 heures and Tribune de Genève

• Zürcher Regionalzeitung ZRZ with new news platforms since spring

• Sale of local newspapers La Broye and Le Régional successfully concluded

Outlook

• Ziegler Druck to close at the end of 2015

• Ziegler Druck premises to be sold in mid-2016

Publishing Regional segment overview

EBITDA margin

2014-6 16.6 per cent

2015-6 16.1 per cent

47

284

42

263

-10%

-7%

EBITDA Revenue

2015-6

2014-6

11

Page 12: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK

All regional newspapers introduce digital payment model

12

Introduction of digital payment model – timeline

Tages-Anzeiger March 2014

Introduction of new “best-of” app • The best 12 Tamedia media

items each day • Additional images and videos • Theme-based special editions

Der Bund October 2014

24 heures and Tribune de Genève January 2015

BZ Berner Zeitung Sept. 2015

Zürcher Regional Zeitungen 2016

Launch of new digital offerings based on existing digital payment models; Over 11’000 subscriptions sold

Page 13: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK

Successful start of LENA alliance

Cooperations and partnerships strengthen publishing business

13

Additional acquisition of print orders

NZZ am Sonntag

140,000 copies

Neue Zürcher Zeitung

117,000 copies

Areas of cooperation

• Joint research, e.g. on sanctions against Russia

• Interview and article sharing

1 2

3

4 5

6

7

1 2 3

4 5 6 7

Coopzeitung

1,240,000 copies

L’express

19,000 copies

L’impartial

12,000 copies

Page 14: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK 14

Publishing National: national newspapers and magazines

National media National media

Weekly newspapers

Magazines

Weekly newspapers

Page 15: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK 15

National: structural pressure on national print advertising market

Business division overview

• The 20 Minuten media network improved on its high level of net income and further increased digital revenue

• Finanz und Wirtschaft significantly improved revenue and net income in both the print and digital segments

• Sunday newspapers and magazines felt significant pressure from the print advertising market

Outlook

• Investments in further readership growth at Metroxpress

• Continued planning for 20 Minuten Deutschland

Publishing National segment overview

EBITDA margin

2014-6 19.5 per cent

2015-6 19.5 per cent

39

198

36

187

-6%

-6%

EBITDA Revenue

2015-6

2014-6

Page 16: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK

Media publications: unique users per day in thousands*

16

20 Minuten on track for success; launch of new app at end-August

New 20 Minuten app

Launch of 20 Minutes Friday Online • Expansion of people and lifestyle

platform to French-speaking Switzerland

• Start date: 28 August 2015

Newsnet NZZ network

240

541

Blick/ Blick am Abend

693

20 Minuten

1,126

Source: Net Metrix profiles 2015-1 ** luzernerzeitung.ch, nzz.ch, Nordwestschweiz Netz, St. Galler Tagblatt

• Launch of new 20 Minuten app at end of August 2015

• Readers to play a key role with greater scope for interaction

Live feed / social media • Comments published

in a live feed • Live publication of images sent in • App also acts as a console: quizzes,

games, live TV or videos on demand • Due to start at the end of August 2015

Page 17: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK

Excellent position in commuter newspaper markets

17

Metroxpress readership in 1,000*

307

-40%

Jyllands-Posten

243

Politiken

512

*Source: TNS Gallup 4. kvartal 2014 + 1. kvartal 2015; **Source: TNS Plurimedia 2015

Tageblatt

136

50

Luxemburger Wort

175

L’essentiel readership in 1,000**

Metroxpress overview

• Positive trend in readership figures and and percentage of copies picked up

• Further investments are necessary to break even

• mx.dk performing well and already making a positive contribution to net income this year

L’essentiel overview

• L’essentiel continues to perform well in its readership market

• essentiel.lu news platform is growing strongly and now the second-ranked news site

• The German-language news platform launched in cooperation with 20 Minuten is performing well

• Launch of Radio L’essentiel at end-2015

Page 18: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK

Successful pilot project – 20 Minuten Deutschland

18

20 Minuten Deutschland

Successful digital trial

• A digital 20 Minuten offering was trialed for Germany during a one-month pilot in June

• 20 Minuten Deutschland was produced by a team in Berlin in close consultation with 20 Minuten in Zurich

• Test users’ verdict on 20 Minuten Deutschland was very positive

Talks with potential partners

• The 20 Minuten Deutschland concept is currently being refined on the basis of the findings made during the pilot

• Talks with potential cooperation partners are currently ongoing

Page 19: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK

Hor

izon

tal

Real estate

General classifieds

Fashion e-com-merce

Tickets TV

Ver

tica

l

Services Digital advertising & services

News

*

* *

Jobs

* * *

*

19

Vintage Fashion

Online classifieds

E-com-merce

Cars

* Participations ** Weko approval pending

Horizontal and vertical platforms in the Digital portfolio

Digital: news, market places, services and e-commerce

Finan-cing

*

E-commerce

Market-place

Building & reno-vation

*

**

**

**

Page 20: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK 20

Strong net income thanks to organic growth and acquisitions

Overview of Digital business division

• Digital remains the business division with the highest profitability

• Doodle and Trendsales taken into account for the first time during the whole period under review

• JobCloud AG job platforms and homegate.ch real estate platform performing well

• Completed acquisition of Schibsted stakes in tutti.ch and car4you.ch

• search.ch transferred to Swisscom Directories after balance sheet date; Tamedia now holds 31 per cent stake in joint subsidiary

Outlook

• Ricardo Group: Competition Commission decision expected at the end of October

Digital segment overview

EBITDA margin

2014-6 29.0 per cent

2015-6 31.8 per cent

29

99

34

108

+9%

EBITDA Revenue

+19%

2015-6

2014-6

Page 21: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK

Ricardo Group: Competition Commission decision pending

21

Planned acquisition of Ricardo Group – timeline

Tamedia announces planned acquisition of Ricardo Group

Tamedia announces planned full acquisition of tutti.ch und car4you.ch

Competition Commission decides to carry out an in-depth assessment of Ricardo acquisition

Competition Commission gives green light to acquisition of tutti.ch and car4you.ch

Competition Commission decision on Ricardo Group acquisition

February February June June October

Page 22: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK

Online marketplace

Tamedia: strong positions in marketplaces

22

General classifieds

Car market

Real estate

Job market

1 1 2

1 1

*

* Participation

* *

*

Page 23: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK

Axel Konjack Track record as managing director of immonet.de and the hamburg.de city website

• Successful market presence with good revenue and net income performance

• Acquisition of immostreet.ch in 2016

• homegate.ch under new management

23

Homegate is easily the leading real estate platform in Switzerland

Revenue performance Page impressions in millions*

* Source: Net-Metrix audit

200

150

100

50

0

+12%

Jun Apr Feb Dec Oct Aug Jun Apr Feb Dec Oct Aug Jun

home.ch

newhome.ch

immoscout24.ch

homegate.ch

2015-6 2014-6 2013-6

+18%

Net income performance

+55%

2015-6 2014-6 2013-6

Page 24: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK 24

JobCloud: good performance despite difficult job market

• Increase in advertised jobs

• JobCloud benefited from the continued transfer of job advertisements to the Internet

• Considerable increase in revenue and net income

JobCloud – revenue and EBITDA

EBITDA Revenue

+15%

+9% 2015-6

2014-6

Visits per month in thousands*

2015-3

2015-6

2014-12

2014- 9

2014- 6

2014- 3

2013 2012 2011

1,312

2,436

3,370

2,231

JobCloud WCH

JobCloud DCH

* Source: Net-Metrix audit

Order volumes

+11%

+14%

WCH DCH

2015-6

2014-6

Page 25: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK

• Sharp rise in mobile use following launch of new iOS and Android apps for smartphones

• Further growth in advertising revenue

• Further promotion of Doodle Premium

• Establishment of a branch in Berlin at beginning of year, focusing on European growth and development

25

Doodle: new apps and and strong international growth

Sessions by device

* Source: Net-Metrix audit

Sessions by country

16%

54%

12%

Tablet Mobile Desktop

2015-6

2014-6

14% 22%

27%

23%

SWITZERLAND USA FRANCE GERMANY

2015-6

2014-6

Page 26: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK 26

Swiss websites sorted by number of unique clients in thousands in June 2015

Tamedia owns five of the 10 leading websites in Switzerland

Source: NET-Metrix audit 2015-06 *Total based on the individual figures from the Net-Metrix audit 2015-06 (car4you, homegate.ch, JobCloud AG, tutti.ch)

NZZ network

3,110

search.ch

3,994

srf.ch

4,033

Newsnet National

local.ch

4,591

sbb.ch

4,527 4,802

20 Minuten Online &

Tio.ch combined

6,794

4,310

Blick Online

4,274 4,474

Scout24 network

Tamedia Classifieds*

Page 27: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK

Advertising market today

27

Readership market today

Strong centralised advertising and readership markets at the latest from 2017

Tamedia advertising

market

Client/agency

20 Minuten

RMDCH

TPR

Digital

MDCH

Tamedia contacts Publications Readers

MDCH

RMDCH

TPR

20 Minuten

Pa

ym

en

t

mo

de

ls

Lesermarkt

Lesermarkt

Lesermarkt

Lesermarkt

Lesermarkt

Lesermarkt

MDCH

RMDCH

TPR

20 Minuten

BE

ST

P

RA

CT

IC

E

TE

CH

NO

LO

GY

Advertising market in future Readership market in future

Page 28: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

New positions for Marcel Kohler, Serge Reymond & Ueli Eckstein

• Ueli Eckstein, Head of Regional Media German-speaking Switzerland, will leave the Tamedia Executive Management team at the end of 2016

• He will continue to serve Tamedia beyond his ordinary retirement (scheduled for mid-2017) – as Head of Special Projects in the area of publishing

• Responsible for planning the target organisation structure

• Responsible for transformation process

• Will take on responsibility for the advertising market from 2017

• Will continue to head the 20 Minuten Group

• From 1 January 2017: Head of Payment Media, incorporating readership market, product management and editorial offices

• Tasked with developing joint readership market and product management teams

• Heads the chief editorial offices that continue to report on content to the Publishing Committee of the Tamedia Board of Directors

28 Half-year figures 2015, 20 August 2015

Advertising & Commuter Media – Marcel Kohler

Payment Media – Serge Reymond

New role – Ueli Eckstein

Page 29: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK 29

Sandro Macciacchini Chief Financial Officer

First-half 2015: financial report

Page 30: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK

Significant changes to the consolidated companies and activities • On 25 March 2015, Tamedia sold its 100 per cent stake in the Aktiengesellschaft des

Winterthurer Stadtanzeiger AG to Zürcher Oberland Medien AG. Pro memoria: significant changes in the previous year • On 28 July 2014, Tamedia AG acquired a 88 per cent holding in Trendsales ApS,

Copenhagen. • Tamedia acquired a further 51 per cent holding in Doodle AG on 11 November 2014,

thus increasing its stake in the company to 100 per cent.

Discontinued operations There were no significant discontinued operations in the period under review.

Changes in reporting / restatement of first-half 2014

• The Print Regional and Print National are now referred to as the Publishing Regional and Publishing National business divisions respectively. Publishing Regional and Publishing National now also cover the revenue and net income of the digital publishing offerings that were previously assigned to the Digital business division.

30

Notes on first-half 2015 (1/2)

Page 31: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK

Changes in reporting / restatement of first-half 2014 (continued) • The net income share of associated companies and joint ventures is now reported as

part of EBITDA in the consolidated income statement and the segment information. The dividends of associated companies and joint ventures are now reported as cash flow from trading activities in the consolidated cash flow statement.

• The effect of IAS 19 “Employee Benefits” is now shown outside the business segments in the segment information. The segments’ operating expenses only contain the standard employer contributions as employee benefit expenses. The difference between employer contributions and employee benefit expenses is shown in the elimination column in accordance with IAS 19.

• The prior-period figures in the consolidated income statement, the segment information and the consolidated cash flow statement were subsequently adjusted as a result of the restatement. The restatement has no effect on the consolidated balance sheet, earnings per share or the consolidated statement of total comprehensive income.

Changes in the accounting standard No new or revised standards or interpretations were introduced in the period under review.

31

Notes on first-half 2015 (2/2)

Page 32: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK

New business divisions and adjusted segment reporting

32

• Daily and weekly newspapers, including supplements, that generate more than 60 per cent of revenue in two economic regions

• Regional digital news platforms

• Printing facilities • Prepress • Overheads

• Regional digital news platforms

• National digital news platforms

• Classified platforms • Services platforms • Digital platforms

• Daily and weekly newspapers, including magazines, that generate less than 60 per cent of revenue

• National digital news platforms

Publishing Regional Publishing National Digital

• Net income share of associated companies and joint ventures

• IAS 19 effect no longer under expenses but in the elimination column instead

• Net income share of associated companies and joint ventures

• IAS 19 effect no longer under expenses but in the elimination column instead

• Net income share of associated companies and joint ventures

• IAS 19 effect no longer under expenses but in the elimination column instead

Page 33: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK 33

Operating expenses fall at a disproportionately high rate in relation to revenue

Revenue and EBITDA in 2015-6 in CHF millions

424

35 72107

531

Depreciation and amortisation

EBIT EBITDA Net income share of associated

companies & JVs

1

Operating expenses Revenue

-3.8% -4.3%

-78.5% -3.9% -1.0% -5.2%

Page 34: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK 34

Net income significantly up on prior year due to one-off effects

EBIT and net income in 2015-6 in CHF millions

17 18

89

72 72

Net income

0

Net income from discontinued operations

9**

63*

Income taxes Net income before taxes

Financial result EBIT

-5.2% +695.7% +13.8%

-7.1% n.s. +21.0%

*Number of Tamedia shareholders **Number of minority shareholders

Page 35: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK 35

Net income includes over CHF 16 million in one-off effects

Net income in 2015-6 in CHF millions

5516

1

Net income excluding one-off effects

Tax effects on one-off effects

Gain on the sale of investments

Gain on the sale of property, plant and equipment

1

Net income

72

63*

9**

e.g. sale of La Broye

e.g. sale of LS Distribution

*Number of Tamedia shareholders **Number of minority shareholders

Page 36: Media and analyst information Thursday, 20 August 2015, Zurich Relations/Englisch... · 20 Minuten on track for success; launch of new app at end-August New 20 Minuten app . Launch

Half-year figures 2015, 20 August 2015, BMK

0.6

-5.1

-104.5

109.6

136.6

-26.9

-132.7

-11.9

71.4

107.0

+2,477% -89%

-35%

-22%

Change in cash flow* Cash flow from financing activities

Cash flow from investment activities

Cash flow from operating activities

Cash flow from trading activities

2015-06

2014-06

Drop in cash flow from financing activities; job loan amortisation

Cash flow statement for first-half 2015 in CHF millions Status of cash and cash equivalents

30.06.2015 CHF 58.4 million

*Incl. discontinued operations

36

0,7

47,1 Cash-flow from discontinued operations

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Half-year figures 2015, 20 August 2015, BMK

Investment in property, plant and equipment (Capex)1 in CHF million and as a percentage of operating income

1) Excluding acquisitions of holdings and business units

29.1 51.0 33.8 22.3 8.0 11.0 23.4 12.1 10.7 43.5 21.0 25.3 10.9 7.5

5%

9%

6%

3%

1% 1%

3%

2% 1%

4%

2% 2%

1% 1%

0%

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

0

10

20

30

40

50

60

70

80

90

100Capex in CHFmillions

Ø = 24.3

37

Capex to operating income remains at 1 per cent

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Half-year figures 2015, 20 August 2015, BMK

236.9 244.0

462.2371.3

368.0310.7

1,428.1

2015-06

1,457.0

2015-06

1,732.7

2014-12 2014-12

1,788.2

Equity

Non-current liabilities

Current liabilities

Non-current assets

Current assets

68%

11%

21%

70%

12%

18%

In CHF millions

38

Equity ratio increases to 70 per cent

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Half-year figures 2015, 20 August 2015, BMK 39

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