Q3/2014: Solid results driven by slight improvement in advertising revenue in key markets

Transcription

1 Q3/2014: Slid results driven by slight imprvement in advertising revenue in key markets Mediengruppe RTL Deutschland remains n track fr anther recrd full-year EBITA Fr the perid January t September 2014, RTL Grup reprts slightly lwer revenue and a decrease in EBITA, mainly due t the difficult ecnmic situatin in France and headwinds fr FremantleMedia RTL Grup accelerates its digital expansin with recent acquisitins f the prgrammatic vide advertising platfrm, SptXchange, and the leading multi-channel netwrk fr fashin, beauty and lifestyle, Style Haul Luxemburg, 13 Nvember 2014 RTL Grup, the leading Eurpean entertainment netwrk, annunces its results fr the nine mnths ending 30 September Highlights In millin January t September 2014 January t September Per cent change Revenue 3,946 4,012 (1.6) Underlying revenue 2 3,890 3,958 (1.7) Reprted EBITA (4.8) Reprted EBITA margin (%) Reprted EBITA Impairment f gdwill and amrtisatin and (101) (7) impairment f fair value adjustment n acquisitins f subsidiaries Impairment f investments accunted fr using the 72 equity methd Re-measurement f earn-ut arrangements 1 Gain frm sale f subsidiaries, ther investments and 2 5 re-measurement t fair value f pre-existing interest in acquiree EBIT Net financial expense (24) 16 Incme tax expense (197) (206) Prfit fr the perid Attributable t: Nn-cntrlling interests RTL Grup sharehlders Reprted EPS (in ) Regulated infrmatin. The figures presented in the interim management statement are unaudited 1 All financial infrmatin fr January t September 2013 are restated fr IFRS 11 2 Adjusted fr scpe changes and at cnstant exchange rates 3 EBITA represents earnings befre interest and taxes excluding impairment f gdwill and f dispsal grup, and amrtisatin and impairment f fair value adjustments n acquisitins f subsidiaries, impairment f investments accunted fr using the equity methd, re-measurement f earn-ut arrangements, and gain r lss frm sale f subsidiaries, ther investments and re-measurement t fair value f pre-existing interest in acquiree

2 Q3/2014: cntinued imprvement f TV advertising market cnditins TV advertising markets acrss Eurpe were up in the third quarter with the exceptin f Belgium Hwever, the third quarter, with the summer hliday seasn, is a traditinally weaker quarter in terms f advertising revenue (seasnality) In the third quarter f 2014, reprted Grup revenue was stable at 1,259 millin (Q3/2013: 1,257 millin), while reprted EBITA was 160 millin (Q3/2013: 161 millin) January t September 2014: exchange rate effects and new advertising tax in Hungary weigh n RTL Grup results TV advertising markets acrss Eurpe cntinued t shw signs f imprvement ver the first nine mnths f With the exceptin f France which was stable and Belgium which was dwn 0.7 per cent all Eurpean net TV advertising markets in RTL Grup s territries were up year-n-year Reprted Grup revenue decreased slightly t 3,946 millin (January t September 2013: 4,012 millin), mainly due t negative exchange rate effects, lwer advertising sales in France alng with lwer revenue frm FremantleMedia and UFA Sprts RTL Grup s digital revenue 4 cntinued t shw dynamic grwth, up 16 per cent t 180 millin benefitting frm rganic grwth and new acquisitins Reprted EBITA was 679 millin cmpared t 713 millin in the first nine mnths f The decrease is mainly due t lwer prfit cntributins frm FremantleMedia and RTL Grup s bradcasting peratins in France, which ffset grwth frm Germany and the Netherlands EBITA margin at 17.2 per cent (January t September 2013: 17.8 per cent) Net prfit attributable t RTL Grup sharehlders decreased by 42.8 per cent t 306 millin (January t September 2013: 535 millin). As described at the half year, this was principally due t mvements in impairment charges. In the first nine mnths f 2014, RTL Grup recrded a gdwill impairment n RTL Hungary amunting t 77 millin. Cnversely, the net prfit fr the first nine mnths f 2013 included a significant psitive ne-ff effect f 72 millin, resulting frm the reversal f an impairment n RTL Grup s hlding in the Spanish bradcasting cmpany Atresmedia Net cash frm perating activities was 586 millin, resulting in an perating cash cnversin f 86 per cent 4 Excluding e-cmmerce, hme shpping and distributin revenue fr digital TV 2

3 Fllwing the payment f an extrardinary interim dividend f 307 millin n 4 September 2014, RTL Grup had net financial debt f 926 millin as f 30 September 2014 (30 June 2014: 475 millin) Mediengruppe RTL Deutschland reprts best nine-mnth EBITA During the first nine mnths f 2014 EBITA f Mediengruppe RTL Deutschland increased significantly, by 5.0 per cent t 418 millin (January t September 2013: 398 millin). This imprvement was mainly driven by higher TV advertising revenue in Q3 and a grwing digital distributin business The French TV advertising market was estimated t be stable in the first nine mnths. Against this envirnment, Grupe M6 s EBITA was dwn t 144 millin (January t September 2013: 154 millin), mainly due t lwer TV advertising revenue RTL Nederland s EBITA increased by 6.9 per cent t 62 millin (January t September 2013: 58 millin), mainly driven by higher digital distributin revenue and diversificatin activities FremantleMedia s EBITA decreased t 54 millin (January t September 2013: 77 millin), due t unfavurable exchange rates, lwer revenue frm American Idl and increased investments in digital business and the cntent pipeline A glbal frce in nline vide Jint statement frm Anke Schäferkrdt and Guillaume de Psch, C-Chief Executive Officers f RTL Grup: After nine mnths, we see a similar picture as at ur half-year results in August. While Mediengruppe RTL Deutschland and RTL Nederland reprt significant prfit grwth, the ecnmic situatin in France and fr FremantleMedia remain challenging. In the third quarter, significant revenue and EBITA grwth in Germany led t stable Grup results, and we had a gd start int the imprtant furth quarter. Given ur high cash flws and strng financial psitin, we wn t wait fr the ecnmic cnditin t imprve, but invest tday in new grwth drivers fr RTL Grup. This year, we will invest mre than 240 millin in rapidly grwing digital businesses while als launching new channels and further diversifying ur cntent prductin arm. This is the highest investment level fr acquisitins since With the recent acquisitins f SptXchange and StyleHaul, we have made strategically imprtant prgress t make RTL Grup a glbal frce in nline vide and nline vide advertising. 3

4 Highlights frm RTL Grup s peratins RTL Grup cntinues t make gd prgress acrss its three strategic pillars: bradcast, cntent and digital Bradcast: investments in cre business New TV channels strengthen RTL Grup s family f channels: during the reprting perid, RTL Grup cmpanies launched three new channels: RTL Kckica in Cratia, Ge TV in Germany and RTL CBS Extreme HD in Suth East Asia RTL Televisin bradcast the first f 20 matches f the German ftball natinal team. The first match was watched by an average millin viewers. The audience share amng viewers aged 14 t 59 was 33.7 per cent Cntent: blstering the ftprint At the end f March 2014, FremantleMedia acquired a 75 per cent majrity stake in the US-based reality prductin cmpany, 495 Prductins, and has the pprtunity t acquire the remaining sharehlding in the future. This allws FremantleMedia t expand its share f the valuable US cable market and cmplements and diversifies FremantleMedia s existing prtfli f cntent and clients in the biggest TV market wrldwide Digital: cntinued investments int digital capabilities and ftprint With the acquisitin f StyleHaul RTL Grup further accelerates its rapidly grwing presence in the nline vide space. With 900 millin vide views per mnth, StyleHaul is the leading multi-channel netwrk n Yutube fr fashin, beauty and lifestyle a highly attractive segment fr majr advertisers FremantleMedia Nrth America s recently-launched digital cntent studi, Tiny Rit, has partnered with BradbandTV n a multi-year riginal prgramming deal spanning entertainment, gaming and music cntent In September, RTL Grup cmpleted the acquisitin f a 65 per cent majrity stake in the prgrammatic vide advertising platfrm SptXchange; the investment significantly strengthens RTL Grup s glbal scale acrss the entire nline vide advertising market and adds new technlgy- and data-based cmpetencies In September, RTL Interactive in Germany acquired Ecna Shpping fr 27.5 millin. Ecna perates curated advice and recmmendatin platfrms fr nline shpping such as Sparwelt.de. It is the mst significant acquisitin in the histry f RTL Interactive 4

5 RTL Grup develped its strng and rapidly grwing presence acrss all digital platfrms. In the first nine mnths f 2014: RTL Grup s catch-up TV services and websites, including the Yutube MCN Bradband TV, attracted a ttal 24.4 billin nline vide views, up 159 per cent year-n-year theref: FremantleMedia s mre than 175 Yutube channels attracted 6.2 billin views, up 34.8 per cent year-n-year Fr the full year, RTL Grup expects t mre than duble its nline vide views t arund 40 billin The interim financial reprt, slides frm the analyst presentatin and an MP3 file f the analyst cnference call will be available t dwnlad at: Fr further infrmatin please cntact: Media Investr Relatins Oliver Fahlbusch Andrew Buckhurst Crprate Cmmunicatins Investr Relatins Phne: +352/ Phne: +352/ liver.fahlbusch@rtlgrup.cm andrew.buckhurst@rtlgrup.cm Abut RTL Grup RTL Grup is the leading Eurpean entertainment netwrk, with interests in 53 televisin channels and 28 radi statins and cntent prductin thrughut the wrld. The televisin prtfli f Eurpe s largest bradcaster includes RTL Televisin in Germany, M6 in France, the RTL channels in the Netherlands, Belgium, Luxemburg, Cratia, Hungary and Antena 3 in Spain. The Grup als perates the channels RTL CBS Entertainment HD and RTL CBS Extreme HD in Suth East Asia. RTL Grup s families f TV channels are either the number ne r number tw in eight Eurpean cuntries. The Grup s flagship radi statin is RTL in France, and it als wns r has interests in ther statins in France, Germany, Belgium, the Netherlands, Spain and Luxemburg. RTL Grup s cntent prductin arm, FremantleMedia, is ne f the largest internatinal creatrs, prducers and distributrs f multi-genre cntent utside the US. With peratins in 22 cuntries, FremantleMedia s cmprehensive glbal netwrk is respnsible fr 8,500 hurs f prgramming a year and distributes ver 20,000 hurs f cntent wrldwide. Cmbining the catch-up TV services f its bradcasters, the multi-channel netwrk BradbandTV and FremantleMedia s mre than 160 Yutube channels, RTL Grup has becme the leading Eurpean media cmpany in nline vide. Fr mre infrmatin, please visit RTLGrup.cm and fllw RTL Grup n 5