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1Q FY13 Financial Results14 January 2013
Singapore Press HoldingsSingapore Press Holdings
Group 1Q FY13 financial highlights
1Q FY13S$’000
1Q FY12S$’000
Change%
Operating Revenue 322,092 332,406 (3.1)
109,371 121,230 (9.8)
2
Operating Profit # 109,371 121,230 (9.8)
Investment Income 3,054 587 420.3
Net Profit attributable to shareholders 91,075 97,461 (6.6)
# This represents the recurring earnings of the media and property businesses.
Group 1Q FY13 financial highlights
Operating Revenue1Q FY13S$’000
1Q FY12S$’000
Change %
Newspaper and Magazine 263,518 269,752 (2.3)
Property 48,192 46,852 2.9
Others 10,382 15,802 (34.3)
322,092 332,406 (3.1)
3
Newspaper and Magazine• Advertisement revenue was lower by S$4.1m (2.0%)• Circulation revenue declined by S$1.3m (2.6%)
Property• Rental income increased by S$1.3m (2.9%) on the back of higher rental rates achieved by Paragon• Income from The Clementi Mall remained stable
Others• The decrease was largely due to timing difference of shows in the exhibitions business
Group 1Q FY13 financial highlights
Profit/(Loss) before taxation1Q FY13S$’000
1Q FY12S$’000
Change %
Newspaper and Magazine 93,022 99,572 (6.6)
Property 24,001 23,877 0.5
Treasury and Investment 2,878 (117) NM
Others (9,510) (2,243) 324.0
4
� The Newspaper and Magazine segment registered lower profits on the back of a fall in advertisement and circulation revenue.
� The Others segment was impacted by lower revenue from the exhibitions business, and increased investment in the online business.
Others (9,510) (2,243) 324.0
110,391 121,089 (8.8)
NM: Not meaningful
Group 1Q FY13 highlights
15.0%
6.2%
Operating Revenue Composition (S$322.1m)
15.2%
Newspaper and Magazine Advertisement Revenue Composition
(S$204.8m)
5
* Classified includes Recruitment and Notices
63.6%
15.2%
Advertisements (Newspaper & Magazine)
Circulation
Rental & Services
Others
59.7%
25.1%
Display
Classified *
Magazines & Others
Newspaper print ad revenue declined by 4.1% mainly due to lower Classified ads
3.3% 2.9%
-0.4% -1.1%-0.7%-1.3%
0.0%
5.0%
10.0%
Newspaper Display and Classified Ad Revenue Y-O-Y Change (%)
6* Classified includes Recruitment and Notices
-3.9%
-0.4% -1.1%
-8.9% -9.0% -9.3%-7.9%
-10.5%
-0.7%-1.3%
-5.7%
-2.9%-4.1%
-15.0%
-10.0%
-5.0%
2QFY12 3QFY12 4QFY12 FY12 1QFY13
Display Classified* Total
200
250
300
350
400 Th
ousa
nds
200
250
300
350
400
Thou
sand
s
Circulation boost from digital copies
Daily Average Newspaper Circulation
0
50
100
150
0
50
100
150
THE STRAITS
TIMES/ THE SUNDAY TIMES
THE BUSINESS
TIMES
THE NEW PAPER / THE NEW PAPER
SUNDAY
LIANHE ZAOBAO
LIANHE WANBAO
SHIN MIN DAILY NEWS
BERITA HARIAN / BERITA MINGGU
TAMIL MURASU /
TAMIL MURASU SUNDAY
Thou
sand
s
1QFY13 1QFY13 (digital)
7
1QFY12 1QFY12 (digital)
Group 1Q FY13 highlights
41.0%
13.6%
18.3%
Cost Composition (S$217.0m)
8
11.1%7.0%
9.0%
Staff Cost
Newsprint
Premises Cost
Depreciation
Other Materials, Production & Distribution Costs
Other Operating Expenses
Slight increase in staff costs
1Q FY13 1Q FY12 Change %
Staff Costs (S$'000) 89,043 88,330 0.8
Average Headcount 4,258 4,221 0.9
9
Average Headcount 4,258 4,221 0.9
Slightly higher staff costs as salary increments were partially offset by a reduced variable bonus provision
Newsprint charge-out is expected to remain marginally unchanged
690 677
654 644
10,015
11,000
12,000
600
650
700
Average Newsprint Charge-Out Price & Monthly Consumption
10
9,320
10,015 9,952 9,844
8,000
9,000
10,000
400
450
500
550
2QFY12 3QFY12 4QFY12 1QFY13
LHS - Prices (US$) RHS - Ave Mthly Consumption (MT)
Operating margin sustained above 30%
20.0%
25.0%
30.0%
35.0%
40.0%
45.0%
80
100
120
140
160
180
Recurring Earnings# and Operating Margin^S$’m
11
# This represents the recurring earnings of the media and property businesses. ^ Computed based on recurring earnings excluding Sky@eleven.
0.0%
5.0%
10.0%
15.0%
20.0%
0
20
40
60
80
1Q FY09 1Q FY10 1Q FY11 1Q FY12 1Q FY13
Profit before investment income (S$'m) Sky@eleven profits (S$'m) Operating Margin
Steady performance from Property segment
• Rental income grew by S$1.3m (2.9%) from higher rental rates
• 100% occupancy
• Rental income remained stable• 100% occupancy and continues to
enjoy strong foot traffic
12
THE SELETAR MALL
• The mall is expected to be completed at the end of 2014
Group investible fund
32.5%
11.2%
43.0%
Group Investible Fund (S$1.2b)• The Group’s investment portfolio
allocation remains conservative amid the ensuing economic uncertainties
• Returns are expected to be commensurate with a lower risk-return profile
13
13.3%
Equities Bonds
Investment Funds Cash and deposits
(As at Nov 30, 2012)
SPH’s digital media wins international awards
2012 EPPY Awards* Best Online Media Advertising/ Media Campaign category
Adventure Race 4 Project garnered the win
WAN-IFRA# XMA Cross Media Awards 2012 Monetization category
Gold: omy Blog Club – a community with over 3,000 registered bloggers in Singapore
14
2012 Annual W3 Awards^Silver in General Website Categories – Education
* Organised by Editor & Publisher magazine^ Judged by the International Academy of the Visual Arts# World Association of Newspapers and News Publishers
Edvantage.com.sg, a one-stop education portal under AsiaOne
Adventure Race 4 Project garnered the win through AsiaOne’s innovative use of
various media platforms
Bronze: ST Online for an eight week campaign ‘Flying High’ for Singapore Airlines
3,000 registered bloggers in Singapore
Revamped portals for cars and classifieds• An improved buy-sell-rent platform for
motorists and dealers• Collaborating with Singapore Road Safety
Council to launch Anti-Drink Drive Campaign
• More than 10,000 listings
• A user-friendly general classifieds site for users to buy and sell stuff with ease, at no cost
• Organised a series of events and promotions with popular merchants, e.g. the 1 Minute Sweep game
15
Thank you
Please visit www.sph.com.sg for more information.
Thank you