9M 13 Results. October 31, M 13 Results.

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1 October 31,

2 9M 13 Highlights According to Infoadex, Total Ad market declined by -12.6% in 9M 13 (TV and Radio down by -10.4% and -12.7% yoy respectively) Atresmedia Television broke again its audience record level Antena 3 & La Sexta, the only core channels which improved yoy Atresmedia Television consolidates 43% market share Atresmedia Radio has again clearly outperformed the market Atresmedia s Net revenue totalled 581 mill OPEX stood at 536 mill 116 mill savings achieved vs 9M 12 proforma EBITDA of 45 mill and Net Income of 28 mill Total net debt ended at 186 mill (3x Net Debt/last 12 m. EBITDA) 2

3 1 9M 13 Financial Summary 3

4 Advertising market in Spain Total Ad market declined by -12.6% in 9M 13 TV (-10.4%) outperformed the market, specially in Q3 (-2.7% vs -8.2% for Total Ad market) Media Q3 13 yoy 9M 13 yoy TV Radio Newspapers Magazines Sunday suppl. Outdoor Internet Cinema -2.7% -10.1% -13.5% -18.6% -25.5% -12.8% -2.4% -13.0% -10.4% -12.7% -18.2% -19.3% -25.0% -13.8% -3.9% -12.9% Total -8.2% -12.6% Source: Infoadex 4

5 Atresmedia in mill: P&L 9M 13 9M 12 YoY Net Revenues % OPEX % EBITDA EBITDA Margin 7.8% 4.6% +91.5% EBIT % EBIT Margin 5.6% 2.3% Net profit Net profit Margin 4.9% 0.9% % Source: Atresmedia s financial statements 5

6 Atresmedia: Net revenues by segment Total Net Revenues stood at million, +13.3% yoy Net TV revenues of million (+15.7%) Radio revenues reached 56.1 mill (-5.4% down yoy) Revenues of Others at 12.8 mill (+16.8%) +13.3% Net Revenues +15.7% In mill % +16.8% M 12 9M 13 9M 12 9M 13 9M 12 9M 13 9M 12 9M 13 Total Group TV Radio Others Source: Atresmedia s financial statements 6

7 Atresmedia: OPEX Total OPEX of mill, +9.5% vs 9M 12 Higher Programming costs and Others Costs due to La Sexta s integration Personnel costs were 6 mill lower than prior to the merger OPEX breakdown by division OPEX breakdownbytypeof cost In mill In mill % % 536 Others Radio % -8.5% Other Costs % 138 Personnel Costs % 83 TV % 478 Programming costs & Others % 314 9M 12 9M 13 9M 12 9M 13 Source: Atresmedia s financial statements 7

8 9M 13 vs9m 12 Proformacomparison 116 million savings in OPEX vs 9M 12 proforma Proforma comparison mill (-8%) mill (-18%) In mill mill 45 9M 12 A3+La6 9M 13 Atresmedia 9M 12 A3+La6 9M 13 Atresmedia 9M 12 A3+La6 9M 13 Atresmedia Revenues OPEX EBITDA Source: Atresmedia s financial statements 8

9 Atresmedia: Cash flow& Debt position Net bank debt stood at 134 mill in line with Dec 2012 Total net debt reached 186 million ( -16 mill vs Dec 2012) Total net debt/last 12 months EBITDA = 3x Cash flow Net Debt In mill In % Non bank debt 28% Bank debt 72% 2012 Net bank debt OCF Capex Others 9M 13 Net bank debt 186 mill Source: Atresmedia s financial statements Source: Atresmedia s financial statements 9

10 Atresmedia: Cash flow& Debt position 4- year syndicated loan execution in Aug 2013 has strenghtened our balance sheet Change in financial structure In mill Pre-syndicated loan (at june 2013) 270 Post-syndicated loan (at sept 2013) 270 Undrawn Undrawn Drawn 134 Drawn Short term revolving credit facilities La Sexta s sharehold. loan Total net debt 1H13 4-year Syndicated loan La Sexta s sharehold. loan Total net debt 9M13 Source: Atresmedia s financial statements 10

11 TV Advertising market Q3 13 (-3% yoy) gave signs that TV ad market is bottoming out TV Advertising by quarter yoy 12% 2% 6% 1% -11% -19% -26% -34% -3% FY10=+4% -3% -8% -10% -14% -15% -15% -18% -16% FY11=-10% -24% -21% 9M13=-10% FY12=-19% FY09= -23% Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Source: Infoadex. 11

12 TV Advertising market by sector Declines remain in most of the sectors with the exception of telecom & retail TV Ad marketbysector Marketshare 9M 13 TV Ad marketbysector Yoy evolution 9M 13 Market = -10% Others 21% Beauty 17% Beauty Food -19% -13% Automotive -23% Beverages 5% Food 14% Telecom 9% Finance 11% Retail 10% Telecom 12% Autos 10% Retail Finance Beverages Others -16% -16% -4% 0% Source: Internal estimates 12

13 Atresmedia market positioning Atresmedia reached market leadership in Q313 with a 3 pp gain yoy and consolidates 43.1% market share in the year Ad market share positioning In % In % Q3 13 9M % 40.4% 43.1% 42.6% 45.4% 42.1% 43.7% 43.1% +2.7pp -2.7pp +1.0pp -1.7pp Q3 12 Q3 13 9M 12 9M 13 Source: Infoadex Source: Infoadex 13

14 AtresmediaTelevision in mill: P&L 9M 13 9M 12 YoY Total Net Revenues % OPEX % EBITDA EBITDA Margin 6.6% 5.0% +54.3% EBIT EBIT Margin 4.5% 2.8% +89.3% Source: Atresmedia`s financial statements 14

15 Atresmedia Television in mill: Revenues breakdown 9M 13 9M 12 YoY Gross Ad. sales % Net Ad. sales % Other net revenues % Total Net Revenues % Source: Atresmedia s financial statements 15

16 Atresmedia Television in mill: OPEX breakdown 9M 13 9M 12 YoY Programming Costs &Others % Personnel Costs % Other Costs % Total OPEX % Source: Atresmedia s financial statements 16

17 Atresmedia Radio Atresmedia Radio, +8.0 pp better than the market in 9M 13 Atresmedia Radio vs Radio market Revenues breakdown Ad revenues yoy Music 17% Radio market -4,7% +8.0pp Conventional 83% -12,7% 9M 13 Source: Infoadex 17

18 Atresmedia Radio in mill: P&L 9M 13 9M 12 YoY Net Revenues % OPEX % EBITDA EBITDA Margin 16.6% 13.8% EBIT EBIT Margin 13.0% 9.9% +14.2% +23.9% Source: Atresmedia s financial statements 18

19 Atresmedia: Others Division Financials Net revenues split mill 9M 13 9M 12 A3 events 8% Net Revenues 12.8 EBITDA A3 films 49% Others 43% Source: Antena 3 s financial statements Contribution to consolidated group Mainly represents the business lines: Antena 3 Films, Antena 3 Eventos, Others (Atres Advertising, Internet, Música Aparte, ) 19

20 2 9M 13 Business Summary 20

21 TV viewing TV viewing remains at its all-time record in the first nine months of the year TV viewing Average daily viewing in min min/viewer 9M 03 9M 04 9M 05 9M 06 9M 07 9M 08 9M 09 9M 10 9M 11 9M 12 9M 13 Source: Kantar Media 21

22 TV audience shares Atresmedia continues increasing audience quarter after quarter Audience Share by main players Audience yoy In % In % 28,7 27,4 28,1 28,4 29,2 29,2 28,3 27,6 28,2 28,5 28,8 20,4 19, ,9 16,7 16,8 16,9 17,9 17,6 18,2 25,1 +3.4pp 28,5 10 9,8 9,2 9,1 8,7 8,7 8,2 6,9 7 7,9 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 9M 12 9M 13 Source: Kantar Media Audience share 24h; Total Individuals: 4+ 22

23 TV audience shares Antena 3 and La Sexta, the sole core channels growing yoy Antena 3 leads audience in Commercial Target Audience Share Total Individuals Aud. Share by Commercial Target In % In % +0.9pp +1.2pp 13,9 12,6 12,2 9,7 13,3 13,1 10,2 8,6 6,0 6,0 5,9 4,7-0.6pp -2.4pp -1.1pp 0.0pp +0.9pp +1.1pp 13,3 12,1 10,6 7,7 7,0 5,5 13,0 11,9 8,4 7,4 6,6 5,9-1.4pp -2.2pp -0.3pp -1.1pp 9M12 9M13 9M12 9M13 Source: Kantar Media Audience share 24h; Total Individuals: 4+ Source: Kantar Media Commercial Target:16-54 yrs, > 10,000 inhabitants 23

24 TV audience shares Atresmedia`s complementary channels co-lead audience share in 9M 13 with one FTA channel less Complementary Channels Audience Share by group at 9M 13 In % 9,4 9,6 6,6 4,3 3,7 Atresmedia Mediaset España TVE Net TV Veo TV Source: Kantar Media Audience share 24h; Total Individuals: 4+ 24

25 Atresmedia Radio Atresmedia Radio, close to reach 5 million listeners Onda Cero & Europa FM grows at a sound rate survey after survey Listeners evolution k (+22%) k (+8%) k (40%) 2nd 11 2nd 12 2nd 13 Source: EGM Surveys Monday to Friday (.000) ( Moving average). *Atresmedia Radio includes Onda Cero, Europa FM and Onda Melodía 25

26 Atresmedia Radio Onda Cero and Europa FM, the stations with highest growth in the last five years Listeners gains/losses among top main ratios (2013 vs2008) Listeners gains/losses among top music ratios (2013 vs 2008) , SER OCR Cope C. Dial Europa FM M80 Máxima Cadena 100 Source:Growth 2nd 2013 vs. 2nd 2008, EGM Surveys Monday to Friday ( Moving average) (.000 listeners) 26

27 Atresmedia Digital Monthly unique users increased by 33% up to 11.1 mill in 9M 13 Almost 57 million video streams per month (+5% yoy) Unique Users Video Streams In mill In mill +32.6% +4.6% 11,1 54,2 56,7 8,3 Monthly Avg 9M 12 Monthly Avg 9M 13 Monthly Avg 9M 12 Monthly Avg 9M 13 Monthly average Source: OJD/Nielsen Market Intelligence Monthly average Source: Smartadserver Note: 9M 13 data include La Sexta.com and Xplora.com 27

28 Back up 28

29 Atresmedia Television: Ad revenues breakdown in Q3 13 Q3 13 Key factors ( in proformabasis*) GRPs Audience Inventory TV viewing GRPs Price 10,5% 7,0% -11,0% -2,1% -3,8% Source: Atresmedia s internal estimates * Atresmedia Q3 13 vs Antena 3 Q3 12+ La Sexta Q3 12 Gross Ad. Revenue +3.0% 29

30 Atresmedia Television: Ad revenues breakdown in 9M 13 9M 13 Key factors ( in proformabasis*) GRPs Audience 13,5% Inventory TV viewing GRPs Price 0,1% 1,0% -19,5% -8,5% Source: Atresmedia s internal estimates * Atresmedia 9M 13 vs Antena 3 9M 12+ La Sexta 9M 12 Gross Ad. Revenue -7.6% 30

31 9M 13 in Proformabasis 9M 13 quarterly results in mill: P&L La 6 9M 12 Antena 3 9M 12 A3 + La 6 9M 12* Atresmedia 9M 13 YoY Net Revenues % OPEX % EBITDA n.a 11.6 EBIT n.a Net Income n.a * Antena 3 + La Sexta Q1 12 aggregate 31

32 9M 13 in Proforma basis. Television 9M 13 quarterly results in mill: P&L La 6 9M 12 Antena 3 9M 12 A3 + La 6 9M 12* Atresmedia 9M 13 YoY Net Revenues % OPEX % EBITDA n.a. EBIT n.a. * Antena 3 + La Sexta 9M 12 aggregate 32

33 La Sexta s Profit & Losses 2012 quarterly results in mill: P&L Q112 Q212 Q312 9M12 Net Revenues OPEX * EBITDA EBIT Net income * Includes 9 mill of non recurring costs 33

34 Additional information Investor Relations Department Phone: Web: Legal Notice The information contained in this presentation has not been independently verified and is, in any case, subject to negotiation, changes and modifications. None of the Company, its shareholders or any of their respective affiliates shall be liable for the accuracy or completeness of the information or statements included in this presentation, and in no event may its content be construed as any type of explicit or implicit representation or warranty made by the Company, its shareholders or any other such person. Likewise, none of the Company, its shareholders or any of their respective affiliates shall be liable in any respect whatsoever (whether in negligence or otherwise) for any loss or damage that may arise from the use of this presentation or of any content therein or otherwise arising in connection with the information contained in this presentation. You may not copy or distribute this presentation to any person. The Company does not undertake to publish any possible modifications or revisions of the information, data or statements contained herein should there be any change in the strategy or intentions of the Company, or occurrence of unforeseeable facts or events that affect the Company s strategy or intentions. This presentation may contain forward-looking statements with respect to the business, investments, financial condition, results of operations, dividends, strategy, plans and objectives of the Company. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company s current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of factors, including political, economic and regulatory developments in Spain and the European Union, could cause actual results and developments to differ materially from those expressed or implied in any forward-looking statements contained herein. The information contained in this presentation does not constitute an offer or invitation to purchase or subscribe for any ordinary shares, and neither it nor any part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. 34