Vocento, S.A. · BME:VOC
Vocento — H1 2010 Earnings Presentation
15 slides from Vocento's earnings presentation, Jul 29, 2010
Slide 1: 1H10 Results
1H10 Results 29 July 2010 VOCeNTO ver, escuchar, leer y sentir.
Slide 2: Highlights of First Half 2010
Highlights of First Half 2010 Result of investment in reducing and controlling costs in all areas areas: eas Focus on EBITDA 1H10 +27.4%1 to €28.2m transformation Cost reduction (€-22.8m1, -6.2%) recover the lower revenues to capture (€-16.7m, -4.3%) future growth Improvement in cost in all areas: p
Slide 3: Future growth based on current cost cutting
Future growth based on current cost cutting The adjustment of costs to the stage of the cycle will enable VOC to adapt to the development of the media sector and allow higher profitability during the recovery Improved profitability in all areas Improvement in efficiency 1H10 vs. 1H09 EBITDA and Abs.
Slide 4: Sound financial position to run over the current cycle
Sound financial position to run over the current cycle Cash and cash equivalents €78.6m Net debt €-98.6: linked to leasing and long term maturities (> 1 year) Investment in 1H10: Capex in full colour printing, and payments for restructuring Strategic investment €-8.1m €-98.6m €-15.0m €28.2m €-22.5m
Slide 5: ABC: Multi-channel brand positioning
ABC: Multi- Multi-channel brand positioning Balance between investing in the brand and ABC continues to cut the gap to number #2... optimizing the business Copies (thousand) Commitment to brand/product: Abs. diff. in copies El Mundo vs. ABC Launch of joint project ABC + ABC.es: 346 340 Online/Offlin
Slide 6: Regional Press: leadership, costs, and migration to Internet
Regional Press: leadership, costs, and migration to Internet Regional Press is maintaining its leadership in Competitive advantage: local penetration a fragmented market Circulation share 1H10 (%) Prensa Iberica Continuous improvement in efficiency: VOC 26.3% 15.5% Reduction of costs by €-9.7m1, -7.
Slide 7: Internet: combined leverage of the Vocento brands
Internet: combined leverage of the Vocento brands Target: to be in the top 10 and capture the ...with continued improvement of positioning growth of the Internet of Classifieds, and new devices Million u.m.u. june 2010 and variation (%) VOC is the media group with the highest Internet: 2nd advertisi
Slide 8: DTT: Relevant position and launch of VOC national project
DTT: Relevant position and launch of VOC national project DTT channels of VOC have over 3% of ... and Disney Channel leads theme channels audience… audience… with an advertising target Audience share by family of channels June 2010 (%) DTT share June 2010 (%) Effect of World Cup 24.0% 3.5% 2.4% 2.2%
Slide 9: Financial Information 1H10
VOCeNTO ver, escuchar, leer y sentir.
Slide 10: Income statement (NIIF)
NIIF €m 1H10 1H09 Var % Circulation revenues 134.8 137.8 (2.2%) Advertising revenues 137.0 140.3 (2.4%) Other revenues 98.9 109.2 (9.5%) Operating revenues 370.6 387.4 (4.3%) Operating expenses1 (342.4) (396.9) (13.7%) EBITDA 28.2 (9.5) 396.0% Depreciation & Amortization (22.8) (22.4) 1.8% Gains on
Slide 11: Consolidated Balance Sheet, 30 June 2010
Consolidated Balance Sheet, 30 June 2010 NIIF NIIF 1H10 2009 1H10 2009 Non current assets 697.8 701.2 Shareholder equity 419.3 424.1 Intangible assets 270.2 277.3 Property, plant & equipment 237.2 230.4 Equity accounted 19.0 20.0 Other non current assets 171.5 173.5 Current assets 323.3 349.3 Total
Slide 12: Revenues by business area
Revenues by business area Print Media Audiovisual (€ m) (€ m) 264.5 247.7 57.7 60.8 9.2 6.4 30.3 27.7 81.6 37.2 79.4 35.9 9.9 162.8 151.7 8.5 8.9 12.8 (19.4) (17.5) 5.9 4.9 (1.5) (4.0) 1H09 1H10 1H09 1H10 Regional Press Nat. Press Suppl. & Mag Free Press Elim. Reg. DTT National DTT Radio Content Eli
Slide 13: EBITDA by business area
EBITDA by business area Print Media Audiovisual (€ m) (€ m) (12.5)1 23.3 7.6 4.6 5.3 1.7 24.9 27.2 9.4 8.4 (7.0) (1.5) 1.2 2.3 (37.2) (1.4) (2.5) (2.9) (1.6) (1.9) 1H09 1H10 1H09 1H10 Regional Press Nat. Press Suppl. & Mag Free Press Reg. DTT National DTT Radio Content Note 1: includes investment in
Slide 14: Legal Disclaimer
Legal Disclaimer This document contains statements about future intentions, expectations or predictions of the Company or its management at the date of issue thereof, which relate to various aspects, including the growth of different business lines and business overall, the market share, the results
Slide 15: Department of Relations with Investors and Shareholders
Department of Relations with Investors and Shareholders Director of Investor Relations Loles Mendoza Investor Relations Javier García Echegaray C/ Juan Ignacio Luca de Tena, 7 28027 Madrid Tel.: +34 91.743.81.04 Fax: 91.742.63.52 e-mail: [email protected]