Alma Media Oyj · OMXHEX:ALMA
Alma Media Oyj — Non-Deal Roadshow (August 2009)
28 slides from Alma Media Oyj's roadshow presentation, Aug 26, 2009
Slide 1: Alma Media Q2 2009 Roadshow
Alma Media Q2 2009 Roadshow August-September 2009 Tuomas Itkonen, CFO Rauno Heinonen, IR 26/08/2009 1
Slide 2: Presentation structure
Presentation structure • Highlights Q2 2009 • Markets Q2 2009 • Segment Review Q2 2009 • Financial Review Q2 2009 • Outlook for 2009 • Talentum tender offer • Appendix material 26/08/2009 2
Slide 3: Highlights Q2 2009
Highlights Q2 2009 • Decrease of advertising market slowed down during second quarter • Net sales declined -11.2 % – Kauppalehti and Marketplaces continued to suffer from weak advertising markets – Circulation sales above the level of comparable period – Positive local advertising sales in Newspaper
Slide 4: Markets Q2 2009
Markets Q2 2009 26/08/2009 4
Slide 5: Advertising sales change 10/2008 - 6/2009
Advertising sales change 10/2008 - 6/2009 20 % 15 % 10 % 5% 0% -5 % -10 % -15 % -20 % -25 % -30 % P10 08 P11 08 P12 08 P1 09 P2 09 P3 09 P4 09 P5 09 P6 09 Advertising sales total, chg % Newspaper advertising, chg % Internet advertising, chg % * Source: TNS Media Intelligence
Slide 6: Advertising sales change Q2 2009
Advertising sales change Q2 2009 Alma Media vs. market Market Alma Media Change, % Q2 09 * Q2 09 Newspapers -22.8 -18.7 ** Magazines -28.0 - Television -12.4 - Radio -7.3 - Internet -9.6 -8.9 TOTAL -19.6 -17.6 * Source: TNS Media Intelligence ** Newspapers segment (excl. online services), Kauppaleht
Slide 7: Advertising by branch Q1-Q2 2009
Advertising by branch Q1-Q2 2009 Change from Q1-Q2 2008, estimate Advertising in Q1-Q2 09 MEUR -13,4 % Retail Retail 125 -12,3 % Food & bev. Food & beverages 49 -27,9 % Motor v. Motor vehicles 46 -37,8 % Houses Houses and premises 22 -5,1 % Entert Entertainment 21 -12,8 % Tourism Tourism and traffic
Slide 8: Advertising by branch Q1-Q2 2009
Advertising by branch Q1-Q2 2009 Newspapers, change from Q1-Q2 2008 Advertising in Q1-Q2 09 MEUR -14,0 % Retail Retail 98 -29,9 % Motor v. Motor vehicles 27 -42,7 % Houses Houses and premises 16 -55,7 % Recru Recruiting 12 -12,5 % Tourism Tourism and traffic 10 -8,1 % Entert Entertainment 10 -48,3 %
Slide 9: Advertising change by branch
Advertising change by branch P4 09 vs P4 08 P5 09 vs P5 08 P6 09 vs P6 08 -8,9 % Retail Retail -14,3 % Retail -12,8 % -8,0 % Food & bev. -18,2 % Food & bev. -20,4 % Food & bev. -33,5 % Motor v. -27,9 % Motor v. -27,6 % Motor v. -1,4 % Entert -8,2 % Entert -5,7 % Entert -21,4 % Tourism -8,2 % Tourism
Slide 10: Segments
Segments 26/08/2009 10
Slide 11: Newspapers Q2 2009
Newspapers Q2 2009 • Net sales declined by 6.7 % to 57.1 (61.2) MEUR – Advertising sales fell to 27.3 MEUR, -13.5 % less than comparable period • Biggest change in sales in Aamulehti • Good performance in local advertising sales • Continued positive development in online sales – Circulation sales gr
Slide 12: Kauppalehti Group Q2 2009
Kauppalehti Group Q2 2009 • Net sales down 17.9 % to 16.0 (19.5) MEUR – Advertising sales continued to decline – change -33 % – Minor decline in Kauppalehti Group’s circulation sales mostly due to customer magazine sales decline – Net sales from online services continued to grow • Comparable operati
Slide 13: Marketplaces Q2 2009
Marketplaces Q2 2009 • Net sales down 25.0 % to 7.0 (9.4) MEUR – No significant change in classifieds advertising market conditions from first quarter • Further slowdown of recruitment market in Finland • Some seasonal improvement in Housing and second hand car markets in Finland – minor impact to t
Slide 14: Financial Review
Financial Review 26/08/2009 14
Slide 15: Key figures Q2 2009, MEUR
Key figures Q2 2009, MEUR Net sales, MEUR EBIT, MEUR 100 14 -15,3% 90 12 0,0 -11,2% 12,2 12,2 80 86,6 81,4 79,3 10 76,4 0,0 70 9,5 60 8 7,5 50 6 40 4 30 2 20 10 0 -1,0 -0,2 0 -2 Q3 08 Q4 08 Q1 09 Q2 09 Q3 08 Q4 08 Q1 09 Q2 09 Onetime items 26/08/2009 15
Slide 16: Net Sales Q2/2009, MEUR
Net Sales Q2/2009, MEUR Alma Media total Newspapers Kauppalehti-Group Marketplaces 79,3 MEUR 57,1 MEUR 16,0 MEUR 7,0 MEUR Aamulehti 34,9% (19,9m€) Etuovi.com 53,9% (3,8m€) Newspapers 70,6% (56,0m€) Kauppalehti 59,6% (9,7m€) monster 12,7% (0,9m€) KL-Group 20,1% (16,0m€) Iltalehti 26,8% (15,3m€) Lehde
Slide 17: Net Sales change Q2/2009 vs Q2/2008, MEUR
Net Sales change Q2/2009 vs Q2/2008, MEUR Alma Media total Newspapers Kauppalehti-Group Marketplaces -10,0 MEUR (-11,2 %) -4,1 MEUR (-6,7 %) -3,5 MEUR (-17,9 %) -2,3 MEUR (-25,0 %) 1,0 0,5 0,0 0,20 0,0 0,00 0,0 -0,5 -0,5 -0,20 -1,0 -1,0 MEUR MEUR -1,0 -0,40 MEUR MEUR -2,0 -1,5 -0,60 -2,0 -1,5 -3,0 -
Slide 18: Net sales change by type
Net sales change by type Circulation, MEUR Advertising, MEUR 1,0 6,0 0,8 4,0 2,0 0,6 0,0 0,4 +0,8% -2,0 0,2 -0,8% -4,0 0,0 -6,0 -0,2 -8,0 -17,0% -17,6% -0,4 -10,0 Q2 08 Q3 08 Q4 08 Q1 09 Q2 09 Q2 08 Q3 08 Q4 08 Q1 09 Q2 09 26/08/2009 18
Slide 19: EBIT by segment
EBIT by segment Newspapers, MEUR Kauppalehti Group, MEUR 14,0 3,5 12,0 3,0 -5,8% 10,0 11,1 2,5 8,0 2,0 -26,2% -54,0% 6,0 6,9 1,5 1,4 4,0 1,0 -67,0% 2,0 0,5 0,6 0,0 0,0 Q2 08 Q3 08 Q4 08 Q1 09 Q2 09 Q2 08 Q3 08 Q4 08 Q1 09 Q2 09 26/08/2009 19
Slide 20: EBIT by segment
EBIT by segment Marketplaces, MEUR Other, MEUR 1,5 0,0 -0,3 1,0 -0,5 -0,8 0,5 -1,0 -118,0% -125,3% 0,0 -0,2 -0,2 -1,5 -0,5 -2,0 -1,0 -1,5 -2,5 Q2 08 Q3 08 Q4 08 Q1 09 Q2 09 Q2 08 Q3 08 Q4 08 Q1 09 Q2 09 26/08/2009 20
Slide 21: Cash flow from operating activities
Cash flow from operating activities 30,0 25,0 20,0 MEUR 15,0 10,7 10,0 5,7 5,0 4,0 0,0 Q4 06 Q1 07 Q2 07 Q3 07 Q4 07 Q1 08 Q2 08 Q3 08 Q4 08 Q1 09 Q2 09 Tax return +1,0 MEUR Tax return +3,8 MEUR 26/08/2009 21
Slide 22: Cash flow and investments
Cash flow and investments 7 2,0 6 5,7 1,0 5 0,0 4,0 4 -1,0 MEUR MEUR 2,9 -1,2 3 2,5 -2,0 2 -3,0 1 -4,0 -4,2 0 -5,0 Q2 08 Q2 09 Q2 08 Q2 09 from operating activities gross investments before financing activities proceeds from sales of assets 26/08/2009 22
Slide 23: Net debt, MEUR
Net debt, MEUR 30 23,9 25 19,8 20 15 10 6,3 5,8 3,8 MEUR 5 0,3 0 -5 -10 -15 -20 -25 Q4 06 Q1 07 Q2 07 Q3 07 Q4 07 Q1 08 Q2 08 Q3 08 Q4 08 Q1 09 Q2 09 Dividend Dividend Dividend 20.3.07 48.5 MEUR 27.3.08 67.2 MEUR 25.3.09 22.4 MEUR 26/08/2009 23
Slide 24: Key ratios in Q2 2009
Key ratios in Q2 2009 Equity ratio, % Gearing, % ROE% ROI% 70 7 100 70 6,5 92,3 58,4 90 60 57,2 6 60 57,7 80 50 5 70 50 60 38,3 40 4 52,6 40 50 30 3 30 40 20 2 30 20 20 10 1 10 0,4 10 0 0 0 0 Q4 08 Q2 09 Q4 08 Q2 09 Q2 08 Q2 09 Q2 08 Q2 09 26/08/2009 24 Q2 ROI% and ROE% have been annualized
Slide 25: EPS and shareholders' equity per share
EPS and shareholders' equity per share 0,16 1,40 0,14 1,20 0,12 1,00 0,10 0,54 0,41 0,08 0,80 0,15 0,06 0,11 0,60 0,04 0,40 0,02 0,64 0,64 0,20 0,00 -0,01 0,00 -0,02 0,00 Q2 08 Q2 09 Q4 08 Q2 09 One time items Retained earnings EPS w/o one time items Restricted equity 26/08/2009 25
Slide 26: Outlook
Outlook Alma Media Corporation / Presentation name / Author 26/08/2009 26
Slide 27: Outlook for 2009
Outlook for 2009 • Alma Media expects that the comparable net sales and operating profit will be lower than in 2008 due to the reduced advertising sales. • In the third quarter, net sales and operating profit will be lower than in Q3 /2008. 26/08/2009 27
Slide 28: www.almamedia.fi
www.almamedia.fi 26/08/2009 28