iHeartMedia, Inc. · NASDAQ:IHRT

iHeartMedia — Q2 2015 Earnings Presentation

26 slides from iHeartMedia's earnings presentation, Jul 30, 2015

  1. Slide 1: 2015 Second Quarter Results

    2015 Second Quarter Results July 30, 2015

  2. Slide 2: Safe Harbor Statement

    Safe Harbor Statement Forward Looking Language Certain statements in this presentation constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors

  3. Slide 3: Social, Traffic & Weather, National & Local platform overview

    Social Traffic & Weather 75+ million Facebook likes 99.6% of commuter coverage & Twitter followers Mobile National & Local 675+ million app Personalities downloads & upgrades 99 syndicated properties Personality & Local National Spot & Station Sites Network Radio 80+ million 5,900+ affiliate broadca

  4. Slide 4: Q2 2015 Key Financial Highlights

    Q2 2015 Key Financial Highlights (Excluding Impact of FX) • Revenue: $1.7 billion (+2% year over year) • +4% at iHM • +2% at International outdoor • +1% at Americas outdoor • Expenses: $1.1 billion (+3% year over year) • OIBDAN: $499 million (+3% year over year) • +3% at iHM • +2% at Americas outdoo

  5. Slide 5: Key Non-Financial Highlights: iHeartMedia

    Key Non-Financial Highlights: iHeartMedia Key Announcements • Partnering with marketing technology platform Unified to deliver unprecedented insights to marketing partners • Launching the iHeartRadio Discover Channel on Snapchat showcasing iHeartRadio’s short- form content with artists and celebriti

  6. Slide 6: Key Non-Financial Highlights: Outdoor

    Key Non-Financial Highlights: Outdoor Key Announcements • Named Bob McCuin as President of Sales, Americas Outdoor • Americas Outdoor Launched our in-airport TV network, ClearVision, at Denver International Airport, the sixth airport to join the program • International Outdoor won the contract for o

  7. Slide 7: iHeartMedia: Financial Results

    iHeartMedia: Financial Results $USD in Millions Three Months Ended June 30, 2015 2014 VAR Revenue $841 $806 4% Operating Expenses $503 $478 5% OIBDAN $338 $329 3% • Revenue: - Revenue +4% - Key Drivers: Strength across the business (core local and national broadcast advertising revenue, traffic and

  8. Slide 8: Americas Outdoor: Financial Results

    Americas Outdoor: Financial Results $USD in Millions Three Months Ended June 30, Reported Excluding FX 2015 2014 VAR 2015 2014 VAR Revenue $341 $344 (1%) $346 $344 1% Operating Expenses $207 $212 (2%) $211 $212 (0%) OIBDAN $134 $132 2% $135 $132 2% • Revenue: - Revenue +1% - Key Drivers: Digital bil

  9. Slide 9: International Outdoor: Financial Results

    International Outdoor: Financial Results $USD in Millions Three Months Ended June 30, Reported Excluding FX 2015 2014 VAR 2015 2014 VAR Revenue $382 $437 (13%) $446 $437 2% Operating Expenses $298 $341 (13%) $351 $341 3% OIBDAN $84 $96 (13%) $95 $96 (1%) • Revenue: - Revenue +2% - Key Drivers: Growt

  10. Slide 10: Items Impacting Comparability at iHeartMedia, Inc.

    Items Impacting Comparability at iHeartMedia, Inc. Revenue and OIBDAN Expenses iHM Tower Transaction: Loss of ~$2.7 Strategic Revenue and Efficiency million in co-location revenue as a result Initiatives of the sale of the majority of our ~$7 million of costs incurred in connection broadcast tower p

  11. Slide 11: Capital Expenditures

    Capital Expenditures $USD in Millions Key Drivers: iHeartMedia, Inc. • Americas Outdoor: Digital Quarter Ended June 30, billboards 2015 2014 % $ • International Outdoor: Outdoor billboard and street Americas $16 $22 (28%) ($6) International $32 $32 (0%) ($0) furniture advertising Total Outdoor $47 $

  12. Slide 12: Debt

    Debt $USD in Millions Maturity 6/30/15 12/31/14 $ Change iHeartCommunications, Inc. • Total Debt: $20.4 billion Term Loan B 2016 - $916 (916) Term Loan C 2016 - $15 (15) Term Loan D 2019 $5,000 $5,000 - Term Loan E 2019 $1,300 $1,300 - Receivables Based Credit Facility 2017 - - - • Cash interest Pri

  13. Slide 13: Balance Sheet Information and Debt Ratios

    Balance Sheet Information and Debt Ratios June 30, December 31, Recent Transactions Change 2015 2014 iHeartCommunications, Inc. • Repaid $120 million that was Cash & Equivalents $387 $457 borrowed under the Total Debt $20,375 $20,326 Receivables Based Credit Secured Leverage Ratio 6.4x 6.3x Facility

  14. Slide 14: Appendix

    Appendix @ iHeartMEDIA

  15. Slide 15: iHeartMedia, Inc. Reconciliation of OIBDAN to Operating Income (Loss)

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  16. Slide 16: Clear Channel Outdoor Holdings, Inc. Reconciliation of OIBDAN to Operating Income (Loss)

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  17. Slide 17: iHeartMedia, Inc. Reconciliation of OIBDAN to Net Income (Loss)

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  18. Slide 18: Clear Channel Outdoor Holdings, Inc. Reconciliation of OIBDAN to Net Income (Loss)

    Clear Channel Outdoor Holdings, Inc. Reconciliation of OIBDAN to Net Income (Loss) (In thousands) 7KUHH0RQWKV(QGHG-XQH 2,%'$1 1RQFDVKFRPSHQVDWLRQH[SHQVH 'HSUHFLDWLRQDQGDPRUWL]DWLRQ 2WKHURSHUDWLQJLQFRPH H[SHQVH QHW 2SHUDWLQJLQFRPH ,QWHUHVWH[SHQVH ,QWHUHVWLQFRPHRQ'XHIURPL+HDUW&RPPXQLFDWLRQV (TXLW\LQHD

  19. Slide 19: iHeartMedia, Inc. Reconciliations of Revenue and Expenses

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  20. Slide 20: iHeartMedia, Inc. Reconciliations of OIBDAN

    iHeartMedia, Inc. Reconciliations of OIBDAN (In thousands) 7KUHH0RQWKV(QGHG-XQH 2,%'$1 &RQVROLGDWHG2,%'$1 ([FOXGLQJ)RUHLJQH[FKDQJH LQFUHDVH GHFUHDVH 2,%'$1H[FOXGLQJHIIHFWVRIIRUHLJQH[FKDQJH $PHULFDV2XWGRRU2,%'$1 ([FOXGLQJ)RUHLJQH[FKDQJH LQFUHDVH GHFUHDVH $PHULFDV2XWGRRU2,%'$1H[FOXGLQJHIIHFWVRI); ,QWH

  21. Slide 21: Clear Channel Outdoor Holdings, Inc. Reconciliations excluding Effects of Foreign Exchange Rates

    Clear Channel Outdoor Holdings, Inc. Reconciliations excluding Effects of Foreign Exchange Rates (In thousands) 7KUHH0RQWKV(QGHG-XQH 5HYHQXH &RQVROLGDWHGUHYHQXH ([FOXGLQJ)RUHLJQH[FKDQJH LQFUHDVH GHFUHDVH 5HYHQXHH[FOXGLQJHIIHFWVRIIRUHLJQH[FKDQJH $PHULFDV2XWGRRUUHYHQXH ([FOXGLQJ)RUHLJQH[FKDQJH LQFUHDV

  22. Slide 22: iHeartMedia, Inc. Reconciliation of Revenues excluding Effects of Political Revenue

    iHeartMedia, Inc. Reconciliation of Revenues excluding Effects of Political Revenue to Revenues (In thousands) 7KUHH0RQWKV(QGHG-XQH &RQVROLGDWHGUHYHQXH ([FOXGLQJ3ROLWLFDOUHYHQXH &RQVROLGDWHGUHYHQXHH[FOXGLQJHIIHFWVRISROLWLFDOUHYHQXH L+0UHYHQXH ([FOXGLQJ3ROLWLFDOUHYHQXH L+0UHYHQXHH[FOXGLQJHIIHFWVRISRO

  23. Slide 23: Reconciliation of Corporate Expenses

    Reconciliation of Corporate Expenses (In thousands) 7KUHH0RQWKV(QGHG-XQH L+HDUW0HGLD,QF &RUSRUDWH([SHQVH /HVV1RQFDVKFRPSHQVDWLRQH[SHQVH /HVV$PRUWL]DWLRQRIV\VWHPLPSOHPHQWDWLRQFRVWV /HVV/HDVHH[SHQVHDULVLQJIURPVDOHOHDVHEDFN WUDQVDFWLRQV &OHDU&KDQQHO2XWGRRU+ROGLQJV,QF &RUSRUDWH([SHQVH /HVV1RQFDVKFRPSHQV

  24. Slide 24: Reconciliation of Consolidated EBITDA to Operating Income and Net Cash (iHeartMedia)

    Reconciliation of Consolidated EBITDA to Operating Income and Net Cash provided by Operating Activities L+HDUW0HGLD,QF (In millions) )RXU4XDUWHUV(QGHG -XQH &RQVROLGDWHG(%,7'$ DVGHILQHGE\L+HDUW&RPPXQLFDWLRQV VHQLRUVHFXUHGFUHGLWIDFLOLWLHV /HVVDGMXVWPHQWVWRFRQVROLGDWHG(%,7'$ DVGHILQHGE\L+HDUW&RPPXQLFDW

  25. Slide 25: Reconciliation of Consolidated EBITDA to Operating Income and Net Cash (Clear Channel Outdoor)

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  26. Slide 26: About iHeartMedia, Inc. and Clear Channel Outdoor Holdings, Inc.

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iHeartMedia — Q2 2015 Earnings Presentation on 6ix