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The leading European entertainment network
● HY 2011 RESULTS
○ Business Review
○ Strategy update
Agenda
RTL Group
Half year highlights 2011
Strong audience shares
in major markets
GERMANY, FRANCE,
NETHERLANDS
REVENUE
EUR 2.75 billion
REPORTED EBITA
continuing operations
EUR 557 million
Portfolio strengthened:
acquisition of minorities;
creation of new family of
channels; step into Asia
CASH CONVERSION
EBITA MARGIN
NET CASH POSITION
EUR 973 million
20.2%
NET RESULT
EUR 324 million
96%
> Improved profitability against difficult comparatives
2
○ HY 2011 results
● BUSINESS REVIEW
○ Strategy update
Agenda
NET ADVERTISING MARKET DEVELOPMENT (in % )
Source: RTL Group estimates, Médiamétrie, delta versus YTD September 2010 Groupe M6 : M6 and W9: TF1 Group : TF1, TMC and NT1: France TV : Fr2-4
Germany & France
Results 2011
2,5 5,3
-0,9
M6 TF1 Market
4
AUDIENCE SHARE 14-49 (in %)
NET ADVERTISING MARKET DEVELOPMENT (in % ) HY 2011 vs 2010
-0,4
0,4 0,2
RTL P7S1 Market
33,2 32,9 32,2 31,8
33,6 32,9
34,4 35,0 35,3
29,0 29,4
30,3 29,4
29,0 29,3 30,1
29,7
28,6
2003 2004 2005 2006 2007 2008 2009 2010 2011
21,3
33,1
18,3
Groupe M6 TF1 Group France Television
AUDIENCE SHARE – FAMILY OF CHANNELS HOUSEWIVES <50 ALL DAY (in %)
Source: RTL Group estimates, Nielsen, delta versus YTD September 2010
+0.9 -0.1 -1.7
HY 2011 vs 2010
+0.6pp
-1.2pp
6.7pp
FremantleMedia
Half year Results 2011
KEY FACTS 2011 KEY FINANCIALS (in EUR million)
596 621
HY 2011 HY 2010
90 72
● Continues to produce the highest rated
entertainment shows around the world
o In the US, season ten of American Idol was once
again the most watched prime time entertainment series
o In the UK, series five of Britain’s Got Talent was the highest rated entertainment show so far this year
o In Germany season eight of the local version of Idols was yet again a ratings success
o In Australia the third series of Masterchef is the number one show to date on Network TEN
● Growth in revenue driven by new acquisitions
with EBITA margin suffering due to continued
pressure on margins and difficult comparatives
Revenue EBITA
ROS
15.1%
ROS
11.6%
5
FremantleMedia is known for…
6
…but FremantleMedia also has a global expertise in other parts
of the value chain
Drama Live Event Online Social
Networks
Sponsors
hip
Licensing
7
Distribution
Home
Video Licensing
FremantleMedia’s evolution
idea
TV Production
Distribution
Digital
TBA Retail
Live
Events
Branded
Ent.
Gaming
Kids
Home
Video
Licensing
TV Production and
Rights Company
21st Century
Entertainment
Company
8
NET TV ADVERTISING MARKET DEVELOPMENT (in % )
Source : RTL Group estimates
Netherlands & Belgium
Results 2011
373 318
HY 2011 vs 2010
8,1
21,6
6,5
Market RTL SBS
9
NET TV ADVERTISING MARKET DEVELOPMENT (in % )
HY 2011 vs 2010
Market RTL RTBF
158
20
TV AUDIENCE SHARE – FAMILY OF CHANNELS
34,5
23,1 25,6
RTL SBS Ned 1-3
+2.9 -3.9 -1.2
Source : RTL Group estimates, 20-49, PRIMETIME (in % ) : delta versus YTD September 2010
TV AUDIENCE SHARE – FAMILY OF CHANNELS
37,3
16,8
5,6
27,1
RTL Belgium Pubcaster AB Group French Channels
Source : RTL Group estimates, shoppers 18-54, PRIMETIME (in % ) : delta versus YTD September 2010
-1.2 -1.8 +0.4 +0.3
4,3
5,6
-0,4
○ Q1 2011 results ○ Business Review ● STRATEGY UPDATE
Agenda
RTL Group excercises put option which leads to unwind
of all Dutch radio assets from RTL Nederland
Sanoma Talpa
RTL Radio Group
RTL Group
RTL NL Holding
SBS NL
RTL NL+ Digital
67% 33% 26% 74%
Sanoma Talpa RTL Group
RTL NL+ Digital
SBS NL
67% 33% 100%
100% 100%
Sanoma and Talpa acquire SBS Broadcasting Situation after RTL Group excercises
put option with Talpa
Radio Group
• RTL Group becomes 100 per cent
shareholder of RTL NL’s TV and Digital assets
• Talpa becomes 100% shareholder of all
radio assets
100%
11
Allows implementation of multichannel strategy
• RTL Klub needs family of channels in highly
fragmented and fragmenting market
2nd revenue stream from cable operators
• RTL bouquet becomes even more attractive to
competing digital platforms (cable, DTH, Sat, IPTV)
Acquisition of Cable Channels in Hungary
Strategic Rational
• Currently IKO Telkom holds 31%, RTL 69%
• Media law changes enables gain of full control
Cleans up shareholding
Actions 1
2
3
Acquire
31%
Aim :
distribution fee
Create
family of channels
THREE PART ACTION PLAN
12
Acquisition of Cable Channels in Hungary
Fragmentation in the Hungarian TV market
Hungarian TV market highly fragmented
22,4
17,7
4,7 4,6
4,1 3,4
2,1 1,8 1,7 1,6 1,3 1,1 1,1 1,0 0,9 0,9 0,9 0,9 0,9 0,8 0,7 0,7 0,7 0,6 0,5 0,5 0,5 0,5 0,5 0,4 0,4 0,4 0,4 0,4 0,4 0,4 0,4 0,3 0,3 0,3 0,3 0,3 0,3 0,3 0,3 0,3
RT
L K
lub
TV
2
Via
sa
t 3
F+
Co
ol
M1
Sto
ry4
Dis
ne
y
Dis
co
ve
ry
Co
m.C
en
t.
AX
N
Min
ima
x
Na
t. G
eo
.
M2
Du
na
Hír
Sp
ektr
um
Un
ive
rsa
l
Via
sa
t6
VIV
A
Ca
rto
on
Net.
Nó
ta T
V
Sp
ort
1
TV
Pa
prika
An
ima
l P
lan
et
AT
V
Eu
rosp
ort
2
HB
O
Pri
zm
a
Fe
m3
Film
mú
ze
um
Life N
etw
ork
Movie
s2
4
Muzsik
a T
V
Na
t G
eo
Wild
So
roza
t+
Sp
ort
2
Bo
om
era
ng
Dig
iSp
ort
Dis
c.
Scie
nce
Dis
c.T
rave
l
Du
na I
I…
Dis
c.I
nvest.
Nic
ke
lod
eo
n
Sp
ort
Klu
b
Zo
ne
…
TG 18-49, all day, in %, Q1
2 main commercial channels
= 40% of all day audience share
RTL
Klub TV2
4 mid-sized channels
= 17% of all day audience share Viasat3 Film+ Cool M1
(PSB)
80+ small channels
= each less then 2.5% audience
share
Disney Discov-
ery Turner UPC Viasat …
13
16,5% 18.9%
21,6% 23,1%
25,0% 29,6%
32,8% 35,4%
38,4% 39.1%
83,5% 81.1%
78,4% 76,9% 75,0%
70,4% 67,2%
64,6% 61,6% 60.9%
01 02 03 04 05 06 07 08 09 10
Multi-Channel Terrestrial
8 years
Acquisition of Cable Channels in Hungary
Development of Advertising Spend in the UK and Hungary
Hungarian market shows similar development to the UK
UK ADVERTISING SPEND 2001 -2010
TERRESTRIAL VS. MULTI-CHANNEL
15,8% 18.9% 20,6%
23,6% 27,0% 30,2%
33,2% 36,0% 38,0% 39.1%
84,2% 81.1% 79,4%
76,4% 73,0%
69,8% 66,8%
64,0% 62,0% 60.9%
09 10 11 12 13 14 15 16 17 18
Multi-channel Terrestrial
8 years
EUR -38m EUR 152m
EUR 114m
HUNGARY ADVERTISING SPEND 2009-2018 (E)
TERRESTRIAL VS. MULTI-CHANNEL
14
Hungary: Acquisition of 7 Cable Channels & 31 per cent stake in M-RTL
Description
#1 PAY-TV CHANNEL PROVIDER IN HUNGARY . Cool TV: #3 cable channel; young-
skewing general entertainment,
launched in 2004
Film+: #1 movie channel and #2
overall cable channel, launched in
2004
Film+2: sister channel
to Film+, launched in
2008
Reflektor: celebrity
channel, launched in
2008
Sorozat: series channel,
launched in 2008
Prizma: entertainment
channel, launched 2008
Muzsika: music channel,
launched in 2009
Highly profitable operation
Significant growth potential through smaller channels
Combined audience share of 10.1% (+2.0 pp yoy)
Possibility to generate subscription fees for RTL Klub
High level of synergies between main channel and cable
channels 15
RTL Group establishes
RTLH with local partners
Croatia: Buy-out of Remaining Minority Shareholder
RTL Group
100% Prodrvaka 8%
Splitska 8%
Pinta
25% RTL
Group
33%
13%
Agrokor 13% Atlantic
RTL Group buy our
Prodrvaka
RTL
Group
74% 13%
Agrokor
13% Atlantic
2003 2010 2011
RTL Group establishes RTLH
with local partners
In 2011, RTL Group acquires
remaining 26%-stake from Agrokor and Atlantic
After change in media law,
RTL Group bought out several shareholders up until
2010
(2) Price negotiated reasonable
(1) Croatian Competition Authority put pressure on Agrokor
Timing for buy-out good as…
16
Future Opportunities
EXPAND FOOTPRINT
IN ASIA
17
The leading European entertainment network