2011 Thomas Ebeling, CEO Axel Salzmann, CFO Munich, August 4, 2011 August 4, 2011 Page 1
Highlights Q2 2011: High increase in revenues and earnings Strong performance in core TV markets Dynamic growth of new business operations Strategic review concluded: Assets in BE/NL sold at attractive valuation of EUR 1.225bn Amendment and partial extension of term loan facilities completed: ProSiebenSat.1 will use EUR 1.2bn of disposal proceeds for the partial prepayment of its term loans Extension of c. EUR 2.1bn of existing term loans to July 2016 August 4, 2011 Page 2
Key financials Q2 2011 at a glance [EURm] ProSiebenSat.1 Group incl. BE/NL Continuing operations (excl. BE/NL) Revenues 799.6 +5.0% 692.2 +6.5% Recurring EBITDA 272.0 +3.1% 238.7 +6.8% Underlying net income 142.5 95.3 +59.4% +63.4% August 4, 2011 Page 3 Q2 2011: Contributions from Belgian activities included in discontinued operations for Apr.-May. Underlying net income of ProSiebenSat.1 Group (incl. discontinued operations) incl. gain on disposal of Belgian activities (EUR 20.9m).
Good performance in core TV markets TV ad market Q2 2011 vs Q2 2010 [%] 40 20 0 +4.1 +10.5 +10.7 +16.6 +14.8 +15.4 +13.1-3.9-15.0-20 D A CH DK FI NO SE HU RO P7S1 revenue performance P7S1 ratings performance August 4, 2011 Page 4 D: Nielsen Media Research (gross figures). A/CH: gross market data. All other markets: own estimates based on available market data. Revenues: Cash advertising revenues include: spotsales + sponsoring/billboarding + advertising funded programming.
German net TV market: strong recovery in Q2 2011 German net TV ad market [%] + 3 to 4 0 Q1 2011 Q1 2011 0 to 1 Q2 2011 H1 2011-3 to 4 ProSiebenSat.1 sustained leading market position Own estimates. August 4, 2011 Page 5
Many of our TV businesses with strong revenue growth in Q2 2011 Norway + 49% Switzerland + 41% Austria 22% + Denmark 16% + August 4, 2011 Page 6 External revenue growth rates Q2 2011 vs Q2 2010.
supported by dynamic growth of diversified units Red Arrow 56% + Video advertising 46% + Commerce & Ventures + 31% Games 21% + Radio + 19% August 4, 2011 Page 7 External revenue growth rates Q2 2011 vs Q2 2010.
Strong ratings in Q2 2011 Ratings [%] Ratings improvement in Q2 2011 due to strong local formats like 28.2 28.9 28.7 29.9 29.2 Germany s next Topmodel (ProSieben), Danni Lowinski (SAT.1) and Der letzte Bulle (SAT.1) Stable performance in H1 with 28.2% (H1 2010: 28.3%) April May June Q2 2010 Q2 2011 August 4, 2011 Page 8 Source: AGF/GFK Fernsehforschung / TV Scope / ProSiebenSat.1 TV Deutschland Base: SAT.1, ProSieben, kabel eins, sixx; All TV households Germany + EU; 03:00-03:00hrs; Adults 14-49; January-July
Company portfolio optimized in the last months Female-targeted station sixx launched in May 2010 and expanded News production outsourced in June 2010: N24 sold to management maxdome fully acquired in January 2011 and integrated Shut down of 9Live in August 2011 Games portfolio enlarged through acquisitions in May/July 2011 New male channel MAX launched in Norway in November 2010 Assets in BE/NL sold at very attractive valuation: sale of Belgian TV portfolio closed in June, transaction in the Netherlands closed in July August 4, 2011 Page 9
Financials Q2 2011 Axel Salzmann, CFO August 4, 2011 Page 10
Q2 2011: Group key financials at a glance ProSiebenSat.1 Group Discontinued Continuing operations incl. BE/NL operations (BE/NL) (excl. BE/NL) [EURm] Q2 2010 Q2 2011 Δ Q2 2010 Q2 2011 Δ Q2 2010 Q2 2011 Δ Revenues 761.2 799.6 +5.0% 111.2 107.4-3.4% 650.0 692.2 +6.5% Operating costs 498.7 529.9 +6.3% 70.9 74.3 +4.8% 427.8 455.6 +6.5% Rec. EBITDA 263.8 272.0 +3.1% 40.3 33.3-17.4% 223.5 238.7 +6.8% EBITDA 205.4 265.8 +29.4% 40.3 55.4 +37.5% 165.1 210.4 +27.4% Net income (after non-controlling interests) 77.0 129.0 +67.5% 25.8 47.2 +82.9% 51.2 81.8 +59.8% Underlying net income 87.2 142.5 +63.4% 27.4 47.2 +72.3% 59.8 95.3 +59.4% Revenue and recurring EBITDA growth rates from continuing operations even higher than figures for the Group including BE/NL Net income incl. discontinued operations also impacted by positive deconsolidation effects August 4, 2011 Page 11 Q2 2011: Contributions from Belgian assets included in discontinued operations for two months (Apr-May). Net income and underlying net income of ProSiebenSat.1 Group (incl. discontinued operations) incl. gain on disposal of Belgian activities (EUR 20.9m).
Continuing operations Q2 2011: revenue growth drives increase in recurring EBITDA Consolidated revenues [EURm] Recurring EBITDA [EURm] 800 600 650.0 +6.5% 692.2 300 200 223.5 +6.8% 238.7 400 200 100 0 Q2 2010 Q2 2011 0 Q2 2010 Q2 2011 August 4, 2011 Page 12
Continuing operations Q2 2011: significant investments in new growth initiatives led to higher operating costs Operating costs [EURm] 427.8 5.8 +6.5% 455.6 23.7 New growth initiatives First-time consolidation effects (maxdome and expansion of Red Arrow - Kinetic, Snowman, Sultan Sushi) Organic growth: expansion of new stations MAX, sixx, FEM3 and PRO4 422.0 431.9 Existing business Operating costs of existing core business slightly up by 2.3% due to higher program investments Q2 2010 Q2 2011 August 4, 2011 Page 13
Q2 2011: key financials of segments at a glance [EURm] ProSiebenSat.1 Group incl. BE/NL Discontinued operations (BE/NL) Continuing operations (excl. BE/NL) Q2 2010 Q2 2011 Δ Q2 2010 Q2 2011 Δ Q2 2010 Q2 2011 Δ Free TV D/A/CH Revenues Rec. EBITDA 460.3 171.6 477.2 176.8 +3.7% +3.0% -/- -/- -/- -/- -/- -/- 460.3 171.6 477.2 176.8 +3.7% +3.0% Free TV International Revenues Rec. EBITDA 204.8 65.0 218.8 62.7 +6.8% -3.5% 95.8 34.7 92.2 29.6-3.8% -14.7% 109.0 30.3 126.6 33.1 +16.1% +9.2% Diversification Revenues Rec. EBITDA 96.1 27.4 103.6 32.8 +7.8% +19.7% 15.4 6.2 15.2 6.0-1.3% -3.2% 80.7 21.2 88.4 26.8 +9.5% +26.4% External revenues. August 4, 2011 Page 14
Continuing operations Q2 2011: positive revenue development across all segments Free TV German-speaking Revenues [EURm] Free TV International Diversification 600 400 +3.7% +16.1% +9.5% 150 150 460.3 477.2 126.6 109.0 100 100 80.7 88.4 200 50 50 0 Q2 2010 Q2 2011 Increase of German TV ad revenues in Q2 2011 Continuing strong performance of Austria and Switzerland 0 Q2 2010 Q2 2011 Strong revenue performance of Nordic markets (+22%), esp. Norway and Denmark CEE markets remain challenging, however improving trend in Hungary 0 Q2 2010 Q2 2011 Full consolidation of maxdome Dynamic growth of Radio in the Nordic markets and good performance of Online, Mobile & Games and Ventures business August 4, 2011 Page 15
H1 2011: Group key financials at a glance [EURm] ProSiebenSat.1 Group incl. BE/NL Discontinued operations (BE/NL) Continuing operations (excl. BE/NL) H1 2010 H1 2011 Δ H1 2010 H1 2011 Δ H1 2010 H1 2011 Δ Revenues 1,420.6 1,483.6 +4.4% 194.5 195.6 +0.6% 1,226.1 1,288.0 +5.0% Operating costs 1,031.9 1,072.4 +3.9% 144.2 149.8 +3.9% 887.7 922.6 +3.9% Rec. EBITDA 392.4 414.6 +5.7% 50.3 45.9-8.7% 342.1 368.7 +7.8% EBITDA 324.6 400.6 +23.4% 50.3 62.7 +24.7% 274.3 337.9 +23.2% Net income (after non-controlling interests) 98.8 167.3 +69.3% 30.9 51.7 +67.3% 67.9 115.6 +70.3% Underlying net income 120.0 181.7 +51.4% 34.1 53.3 +56.3% 85.9 128.4 +49.5% August 4, 2011 Page 16 H1 2011: Contributions from Belgian actvities included in discontinued operations for first five months (Jan-May). Net income and underlying net income of ProSiebenSat.1 Group (incl. discontinued operations) incl. gain on disposal of Belgian activities (EUR 20.9m).
Continuing operations H1 2011: continued revenue and earnings growth Consolidated revenues [EURm] Recurring EBITDA [EURm] +5.0% +7.8% 1400 1200 1,226.1 1,288.0 400 342.1 368.7 1000 300 800 600 200 400 100 200 0 H1 2010 H1 2011 0 H1 2010 H1 2011 August 4, 2011 Page 17
Continuing operations H1 2011: stable operating costs in core business Operating costs [EURm] 887.7 13.0 +3.9% 922.6 47.3 As expected, above average operating cost increase in Q2 2011: 800 600 400 200 459.9 +1.5% 467.0 874.7 875.3 0 Q1 2010 Q1 2011 H1 2010 H1 2011 600 400 427.8 +6.5% 455.6 Existing business: Stable operating costs New growth initiatives: First-time consolidation effects and expansion of new stations 200 0 Q2 2010 Q2 2011 August 4, 2011 Page 18
H1 2011: key financials of segments at a glance [EURm] ProSiebenSat.1 Group incl. BE/NL Discontinued operations (BE/NL) Continuing operations (excl. BE/NL) H1 2010 H1 2011 Δ H1 2010 H1 2011 Δ H1 2010 H1 2011 Δ Free TV D/A/CH Revenues Rec. EBITDA 878.0 267.3 891.7 274.9 +1.6% +2.8% -/- -/- -/- -/- -/- -/- 878.0 267.3 891.7 274.9 +1.6% +2.8% Free TV International Revenues Rec. EBITDA 365.6 84.3 399.8 90.5 +9.4% +7.4% 164.5 40.1 165.8 38.6 +0.8% -3.7% 201.1 44.2 234.0 51.9 +16.4% +17.4% Diversification Revenues Rec. EBITDA 177.0 41.0 192.1 49.5 +8.5% +20.7% 30.0 11.7 29.8 10.9-0.7% -6.8% 147.0 29.3 162.3 38.6 +10.4% +31.7% External revenues. August 4, 2011 Page 19
Continuing operations H1 2011: revenue increase across all segments Free TV German-speaking Revenues [EURm] Free TV International Diversification 900 600 300 +1.6% +16.4% 10.4% 878.0 891.7 250 234.0 201.1 200 150 100 50 200 150 100 50 147.0 162.3 0 H1 2010 H1 2011 Despite the cautious start into 2011, ad revenues flat in Germany due to good Q2 performance Austria and Switzerland showed good advertising growth 0 H1 2010 H1 2011 Nordic markets were the primary revenue growth driver (+25%) 0 H1 2010 H1 2011 Full consolidation of maxdome Strong growth of Ventures, Radio, Games and Video Ads 9Live with decreasing revenues August 4, 2011 Page 20
Improvement of net financial debt and leverage Total debt and net debt In EURm, IFRS 3,766 RCF/Other** 231 924* 2,842 Net debt reduced to EUR 2.842bn, leverage improved to 3.1x (June 30, 2010: 4.1x) Term Loans 3,535 Net debt down by EUR 179m vs. December 31, 2010, improvement of EUR 433m vs. June 30, 2010 Good liquidity due to BE disposal proceeds and good operating performance New leverage target of 1.5x to 2.5x Total loans & borrowings Liquidity Net debt August 4, 2011 Page 21 Leverage: Net debt/ltm recurring EBITDA: LTM recurring EBITDA of EUR 909m excl Belgian operations. * Incl NL cash contribution. ** Thereof EUR 230m RCF.
ProSiebenSat.1 has further improved its capital structure Maturity profile pre A&E/Repayment [EURm] Maturity profile post A&E/Repayment [EURm] 2000 1500 1000 500 0 1,765 TLC 2011 2012 2013 July 2014 1,795 TLB July 2015 3.56bn Term Debt* 2500 2000 1500 1000 500 0 2011 2012 2013 July 2014 2,084 68 208 TLB TLC TLD ProSiebenSat.1 has proactively addressed its debt maturity profile by launching an amend and extend process on July 18, 2011. Process successfully completed on July 29, 2011: Maturity extension for EUR 2,084bn to July 2016 into new TLD, margin of 250bps for new TLD TLB and TLC reduced from c. EUR 1.8bn to EUR 68m and EUR 212m respectively ProSiebenSat.1 will use EUR 1.2bn of proceeds from the disposals of its BE/NL assets for the partial prepayment. The early repayment will take place on August 24, 2011. Strong financial performance and BE/NL disposal leads to a significant deleveraging Adjusted for the Dutch disposal (closing on July 29,1 2011), proforma net debt reduced to EUR 1.8bn and proforma leverage improved to 2.2x as of June 30, 2011 July 2015 July 2016 2.36bn Term Debt August 4, 2011 Page 22 Figures reflect notional amount, not reduced by financial fees.
Continuing operations: positive financial outlook 2011 unchanged and confirmed Group revenues expected to grow in the mid single-digit percentage range. Underlying revenue performance of German-speaking Free TV segment will be at least low single digit percent up while Free TV International and Diversification segment will continue their dynamic revenue increase. ProSiebenSat.1 expects another record year with strong increase in recurring EBITDA and net income. Significant reduction of gross and net financial debt post completion of Be/NL disposal. New leverage target of 1.5x to 2.5x. Leverage expected to come in well inside target range. August 4, 2011 Page 23
Strategy & current trading update Thomas Ebeling, CEO August 4, 2011 Page 24
Four pillar growth strategy Broadcasting German-speaking Broadcasting International Digital & Adjacent business Content, production & global sales Strenghten position in core market with competitive investments, new channels and technologies, innovative formats & sales strategies Exploit international opportunities and focus on big and/or high growth markets Drive diversification by leveraging idle adinventory, TV reach and small cash investments to build-up portfolio of new growth opportunities Continue to build production business internationally through partnerships & worldwide sales excellence Sound finances, cost efficiency and best practice organization August 4, 2011 Page 25
1. Future growth potential of TV Regional & individualized targeting OTT with HbbTV & Hybrid TV HD/3D & large screens Pricing recovery Print cannibalization August 4, 2011 Page 26
1. Unchanged power of TV as lead medium Average daily usage in Germany In minutes, 14-49 years 240 210 180 150 120 90 60 30 0 2002 2004 2006 2008 2010 TV Print Online TV is the most important leisure activity: 206 minutes per day in Germany TV has a proven lean back function. Larger screens and HD quality will increase the importance of TV for users. TV offers fast reach, is up-to-date and emotionalizing. TV is not only a driver for soft facts but also for the hardest one: The sale of products TV increases probability of purchase: Brands with extensive TV presence make it twice as frequently into the consumer s relevant set August 4, 2011 Source: Page 27 Source: TimeBudget / SevenOne Media / forsa. / GfK ENIGMA / mindline - GfK-study Markenmonitor TV / AC Nielsen / JupiterResearch Consumer Survey Basis: 4,339 interviewees (14-49 years) - ARD/ZDF Langzeitstudie Massenkommunikation 2005/2010 Note: Print including Magazines and Newspapers
1. Collaboration with John de Mol Ich liebe Deutschland SAT.1 (up to 15.9%) The Voice of Germany ProSieben and SAT.1, fall 2011 The winner is SAT.1 spring 2012, hosted by Linda de Mol August 4, 2011 Page 28
1. Strong push in reality programming Reality formats most successful local genre of past 5 to 10 years: market shares over 20% Key TV talents hired: Sascha Naujoks, Julia Leischik, Andrea Göpel 5 to 10 new formats already in development funnel Establishment of strong reality line-up on SAT.1 by end of 2011. First format: Schwer verliebt August 4, 2011 Page 29
1. Two days with great series in primetime Sunday Thursday Navy CIS (up to 17.2% ) The Mentalist (up to 18.1%) Criminal Minds (up to 13.6%) Navy CIS: L.A. and Hawaii Five-0 with new seasons in August August 4, 2011 Page 30
1. ProSieben: Strong new US series and entertainment shows Monday: New US highlight series The Visitors (up to 19.7%) Terra Nova (upcoming) Falling Skies (upcoming) Thursday/Saturday: The next entertainment generation Die Alm reloaded The Voice partnership 17 Meter August 4, 2011 Page 31
1. Good performance of kabel eins Biggest Looser (up to 9.9%) Die strengsten Eltern der Welt (up to 8.6%) Abenteuer Leben Täglich Wissen (up to 12.1%) Friday: Female series Cold Case (up to 7.9%) Castle (up to 7.1%) Saturday: Crime series event Navy CIS (up to 15.2%) Sunday: Sitcom event Two and a half men (up to 16.8%) August 4, 2011 Page 32
1. sixx with strong growth through additional technical reach and increasing viewer acceptance Technical reach in 2011 Household (m) 30 High rating potential trough distribution push-initiatives 25.0 FY 2011: Target rating of ~1.0% 30.0e Constantly growing rating performance Daily ratings of up to 1.7% (F14-49) Average market share of 0.3% in Q2 2011 Strong content line-up 15 12.5 US Blockbuster series: Greys Anatomy, Desperate Housewives, Emergency Room 0 M ay 10 Jul 11 YE 2011 Proprietary formats: Pineapple Dance Studios, FASHIONTRIXX August 4, 2011 Page 33
1. HD+ on satellite successfully launched, new cable deals will reflect value of P7S1's content Retail success of satellite HD+ introduction 909,000 HD+ devices sold 66% conversion rate after trial period HD+ available on Sky in autumn German cable distribution model will move closer to international standards Build up of HD channels in German cable market Integration of OTT portals (focus maxdome) within cable-portals Long-term distribution deal with KDG closed in July 2011, new deals with cable companies under negotiation August 4, 2011 Page 34 Conversion rate as reported by Astra.
2. Renewed distribution deals are driving our international revenue performance Share of carriage revenues H1 2011* 53% Growth of carriage revenues and cable fees in H1 2011 vs H1 2010* + 16% 20% + 61% 23% +11% Total 31% +22% August 4, 2011 Page 35 * Based on EURO currency
2. Norway one example for our success in Nordics Strong portfolio of 4 complementary stations: Group SoV at all-time high, growth of 8%pt to 30% in two years New channels successfully launched in past years: MAX commercial SOV at 5% already 8 months after launch Long-term distribution agreements in dynamic landscape: Including attractive Telenor distribution agreement for MAX Distribution revenues doubled within the last two years: Now constituting 20% of total revenues Close to 100% hit-rate in local productions: High quality pipeline and development August 4, 2011 Page 36
3. P7S1 already frontrunner within online video market Largest network of professional short- and long-form AdVoD content: Over 50 m video views p. m. Largest aggregation portal for professional AdVoD video content: MyVideo with 8.2 m Unique Users Market leader within PayVoD market: Over 35,000 titles on maxdome AGOF March 2011 August 4, 2011 Page 37
3. maxdome No.1 VoD platform & OTT leadership maxdome No. 1 VoD platform Over 35,000 content titles Increasing customer loyalty August 4, 2011 Page 38
3.maxdome extends its reach for the mass market Launched in Q1 10 Launched in Q1 11 Launched in Q2 11 Launch in 2011 Launch in 2011 Launch in 2011 Launch in 2011 Launch in 2011 2011e: maxdome pre-installed on more than 60% of all sold connected devices August 4, 2011 Page 39
3. Significant improvement of our online video advertising performance in H1 2011 Online video ad revenues + 67% Marketable video ad impressions* + 62% Video views GNTM 15m + 40% August 4, 2011 Page 40 Increase vs. H1 2010. * Pre-/ Mid-roll blended, TV.des and portals. GNTM: Germany s next Topmodel by Heidi Klum.
3. MyVideo.tv offers first online leanback experience with pre-programmed channels More than 1m video views in the first month Above average viewing time of > 20 min 10% of users stay > 60 min 3 videos watched per visit August 4, 2011 Page 41
3. All P7S1 games platforms show significant growth in registrations SAT.1 Spiele & SevenGames (100% P7S1) Total online registrations as of Q2 2011 8m Growth versus Q2 2010 + 80% Alaplaya (burda:ic 100% P7S1) 7m + 41% Browsergames.de (Covus Games 51% P7S1) 1.6m +298% August 4, 2011 Page 42 Cumulated registrations as of data aggregation since 01/ 06
3. Continued success with our Pay TV channels Subscribers 2500000 >2.5m 1500000 500000 2006 2007 2008 2009 2010 2011 Launch of an additional basic ProSieben pay TV station in 2011 August 4, 2011 Page 43
3. M4RS and M4E: Leverage ad inventory through media investments Investment criteria No conflict/cannibalization with paying customers New customer/direct customer relationship No money/working capital available, no financial risk for ProSiebenSat.1 Operational scale/distribution efficiency Equity value/growth fantasy TV affine product/market and channel brand fit Client accepts our booking flexibility 40 deals on short list, more than currently 20 on air Promising deal pipeline Strategic focus on 4 industries: Health/Beauty, Travel/Leisure/Lifestyle, Fashion/Design, Digital Services and Consumer/Social platforms Mix of online/digital and physical goods M4RS and M4E can add > EUR 30m EBITDA in 2011 August 4, 2011 Page 44 Growth potential excl. equity participation
3. Starwatch Entertainment leads the charts Successes in H1 2011 3 artists in Top 10 at the same time: Roxette (No.1), Lena (No.2), Max Raabe (No.9) Joe Cocker with Platinum for "Hard Knocks" Starwatch Artists with Gold or Platinum in H1 2011 Chris de Burgh with GOLD for Moonfleet & Other Stories (more than 100.000 sold) and PLATINUM for Footsteps (more than 200,000 sold) GOLD for Roxette and GOLD for Max Raabe Lenny Kravitz with new album Black And white America to come in August. Kravitz sold over 35 million albums so far Source: media control August 4, 2011 Page 45
4. Increased competitiveness and new revenue growth through strong content unit UK (2011) Sweden/ Denmark (2010/2011) Countries with Red Arrow presence Sales outside of Red Arrow footprint USA (2010/2011) Germany/Austria (2004-2010) Belgium/ Netherlands (2010) More than 30 formats on air, programs sold into more than 150 countries Australia (2010) Co-production Partnership August 4, 2011 Page 46
4.Rapid expansion into key TV markets $ 2010 Launch & Expansion within Footprint 2011 Expansion beyond footprint to English-speaking territories 2012 onwards Expansion to fast growing Asian continent Time August 4, 2011 Page 47
development throughout the 4.Strong Red Arrow value chain Development More than 120 formats currently in development Multi-year extension of sucessful partnership between Dick de Rijk and Red Arrow Entertainment Group Production 378 hours of programming (H1 2010: 245) Benidorm Bastards: Produced by Kinetic Content for NBC (USA) You Deserve It: Produced by Kinetic Content for ABC (UK) Sales 606 hours in catalogue (H1 2010: 216) Benidorm Bastards: 20+ countries (USA, UK ) My Man Can: 30+ countries, (CN, UA) You Deserve It: 28 countries, (USA,ES, IT) August 4, 2011 Page 48
Trading update for core market Germany Customer Structure Trends Attractiveness of German market: Customers with global headquarter commit and book strongly. National customers also commit strongly to ProSiebenSat.1 Some caution from few large European customers, however majority increase TV share in media mix Strong commitments of small and mid-size customers Industry Trends Trade/shipment, services (driven partly by internet businesses) and motor vehicles very strong Food down due to weakness in white/yellow line (raw material prices) Health & Pharma down due to budget cuts and temporary media shifts Detergents down due to cuts from few large customers Overall ProSiebenSat.1 initially closed commitments 4% above PY, supported by strong positive trend of smaller/medium advertisers August 4, 2011 Page 49
Three out of Top 5 German industries shift budget into TV Top 5 industrial sectors in Germany by TV ad spendings (gross) [Change H1 2011 vs H1 2010 in EURm] Dairy products (white line) TV ad spend in EURm Change vs PY in % TV-SoA-Shift %-P Food -77-68 822.2-8.6-0.3 Cosmetics and Toiletries -5 603.9-0.9-1.5 Trade and Shipment 44 418.7 +11.9 +3.4 Motor Vehicles 36 375.2 +10.7 +1.4 Business Services 45 349.9 +14.6 +1.2 Top sector (food) with less spendings but stable TV-share August 4, 2011 Page 50 Source: Nielsen Media Research/SevenOne Media, Market Intelligence (16062011), excl. Media and Publishing.
E-Commerce companies strongly increase TV spendings E-Commerce companies realize the power of TV and spend 60% of budgets on TV Growth of gross TV ad spendings in Germany [%] Share of media spendings [%] 100 90 80 70 60 50 40 30 20 10 0 85 16 18 3 2010 / 2009 H1 11 / H1 10 E-Commerce TV market 27.0 9.0 4.0 60.0 TV INT Print Other August 4, 2011 Page 51 Source: Nielsen Media Research
Group's revenues for the year are expected to grow by a percentage in the mid-single digits FY 2011 FTA German-speaking (excl. N24) of which: FTA Germany (excl. N24) German-speaking diversification FTA International (excl. BE/NL) Diversification International (excl. Print) Group total (continuing operations) At least low single digit Low single digit in line with market High single digit Double digit (teens) Double digit (teens) Mid single digit August 4, 2011 Page 52
ProSiebenSat.1 remains on course for growth Portfolio review successfully completed with disposal of TV and print assets in BE/NL at attractive valuation Significant improvement of capital structure by partial prepayment and extension of large part of remaining term loans Leading TV advertising market position in Germany, dynamic growth in Nordics Growth opportunities besides classical TV business stimulate increase in Group revenues ProSiebenSat.1 expects another record year with strong increase of recurring EBITDA and net income August 4, 2011 Page 53
Disclaimer This presentation contains "forward looking statements" regarding ProSiebenSat.1 Media AG ("ProSiebenSat.1") or ProSiebenSat.1 Group, including opinions, estimates and projections regarding ProSiebenSat.1's or ProSiebenSat.1 Group's financial position, business strategy, plans and objectives of management and future operations. Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of ProSiebenSat.1 or ProSiebenSat.1 Group to be materially different from future results, performance or achievements expressed or implied by such forward looking statements. These forward looking statements speak only as of the date of this presentation and are based on numerous assumptions which may or may not prove to be correct. No representation or warranty, express or implied, is made by ProSiebenSat.1 with respect to the fairness, completeness, correctness, reasonableness or accuracy of any information and opinions contained herein. The information in this presentation is subject to change without notice, it may be incomplete or condensed, and it may not contain all material information concerning ProSiebenSat.1 or ProSiebenSat.1 Group. ProSiebenSat.1 undertakes no obligation to publicly update or revise any forward looking statements or other information stated herein, whether as a result of new information, future events or otherwise. August 4, 2011 Page 54
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