mtg corporate presentation jan

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Slide 1

1

2

Unparallelled reach across 4

continents

31 free-TV channels in 10 countries

Satellite pay-TV platforms in 9 countries

Over 75 million mini-pay subscriptions in 31 countries

0%

3%

6%

9%

12%

15%

18%

21%

24%

27%

30%

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

Revenues EBIT* Margin

3

Revenues & EBIT

6%

15%

21% 21%

29%

34%

31%

15%

25%

29%

Total EBIT excluding discontinued DTV and CDON Group operations and one-offs; ROIC excluding non-recurring items.

Return on capital employed

With a track record of profitable

growth

SEK million

4

2011 revenue mix Segmental revenue mix

Due to a uniquely balanced

revenue mix

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2006 2007 2008 2009 2010 2011

Free-TV Scandinavia Pay-TV Nordic Emerging Markets

44% 47%

9%

Advertising Subscription B2B / B2C

5 Business Segments

5

Sweden

Norway

Denmark

Estonia

Latvia

Lithuania

Bulgaria

Czech Republic

Hungary

Ghana

4 satellite platforms

Virtual operator in 3rd party networks

19 channels 5 satellite platforms Baltics, Ukraine & Russia

19 channels on 3rd party networks

9 Free-TV channels

Free-TV

Scandinavia

Pay-TV

Nordic

Free-TV

Emerging Markets

Pay-TV

Emerging Markets

Radio

Modern Studios + MAP

Other

Businesses

And a rich & varied portfolio of

content

6

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

450,000

500,000

MTG RTL SBS Bonnier CME Mediaset

MTG TV channels broadcast 472,372 hours of entertainment in 2011

= 20,000 days of programming! Hours broadcast

Shown through multiple windows

7

Theatrical Release

Rental DVD

TVOD

1 2 3 4 5 6

H1 H2 H1 H2 H1 H2 H1 H2 H1 H2

Yr

Throughout the life cycle of title

12 months

Pay TV 2nd window, SVOD/Catch-up

DVD & electronic sell through

Throughout the life cycle of title

6 months

36 months Free-TV

Pay-TV, SVOD/Catch-up

Library

Rental DVD

SVOD

Life cycle MTG presence

7

And combined with premium

sports rights

* In Sweden & Denmark

** In Denmark & Norway

* **

9

Sweden 1 Feb 2008

Denmark 1 Nov 2009

Norway 1 Dec 2009

Scandinavian TV landscape

(2011)

Cable 52% Satellite

19%

DTT 19%

IPTV 9%

Cable 55%

Satellite 19%

DTT 7%

Analogue Terrestrial

20%

Scandinavian TV landscape

(2005)

Digitalisation has changed the

landscape forever

10

11

And increased the channel

universe

SWEDEN DENMARK NORWAY

Competing for 162

viewing minutes per day

Competing for 198

viewing minutes per day

Competing for 166

viewing minutes per day

From one channel in 1987 to over 50 in 2012

130

140

150

160

170

180

190

200

Average TV Viewing per day

(minutes)

2007 2011

+5 min

+50 min

+21 min

100

120

140

160

180

200

220

240

260

280

300

71% higher viewing in US & 29% higher viewing

in UK when compared to average viewing of 175

minutes in Scandinavia 2011

Digitalization has increased viewing during last

4 years Sweden: +3% (first to enact analogue shutdown) Denmark: +34% Norway: +14%

With potential to grow

Which has boosted TV viewing

levels

12

And driven TV ad market growth

13

-20%

-15%

-10%

-5%

0%

5%

10%

15%

20%

25%

2005 2006 2007 2008 2009 2010 2011 2012E

Sweden Denmark Norway USA UK Europe incl. Russia

14

0%

10%

20%

30%

40%

50%

0%

5%

10%

15%

20%

25%

TV Share of Ad Market

2008 2011

+2.1%

+2% +1.4%

94% higher TV share in US Market

45% higher TV share in UK Market

compared to average TV share of 21% in Scandinavia 2011

TV Share in Scandinavia was growing

from 2008 to 2011 2.1% in Sweden 2% in Denmark 1.4% in Norway

With potential to grow

As a % of the total Ad Market

60

70

80

90

100

110

120

2008 2009 2010 2011 2012E75%

80%

85%

90%

95%

100%

2008 2009 2010 2011 2012 ytd

15

With rising demand & prices

Market Sold Out Ratios in prime time Market cost per thousand (indexed)

Source: MTG research

0%

10%

20%

30%

40%

50%

60%

70%

80%

Bonnier MTG SBS

The MTG Media House

16

Average Weekly Reach (15-49)

2003 2011

Old & Male Old & Female

Young & Male Young & Female

Complementary Channel Profiles

-2% +19% +8%

Source: MMS

0

10

20

30

40

50

60

70

MTG TV2 Group SBS

Has driven commercial target

audience share development

17

Sweden (15-49) Denmark (15-49) %

%

Norway (15-49)

%

Q4 to date

05

101520253035404550

MTG TV4 Group SBS

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

MTG TV2 Group SBS

34.0

22.2 19.2

33.2

21.3

17.7

0

5

10

15

20

25

30

35

40

Sweden Denmark Norway

2011 2012

With TV viewing now moving

online

18

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

ComputerScreen

Mobile Phone TV-screen Tablet

92%

83%

1%

1%

16%

7%

Viewing platform

Traditional TV Web-TV Mobile-TV

Viewing by Device

Age 15-24

+16%

+77%

+54%

+278%

Q1 2011 Q1 2012

Age 15-74

And adding new revenue

streams

19

MS

EK

0

50

100

150

200

250

300

350

2009 2010 2011 2012e 2013e

Web TV advertising market

Where revenue per viewer and per hour are higher than in traditional linear TV Price = 2.8x

higher online & even higher on mobile

-

10,000,000

20,000,000

30,000,000

40,000,000

50,000,000

60,000,000

70,000,000

2010 2011 2012 2013

Number of streams on MTG TV Play services

Source: MMS

TV4 numbers include TV4 premium viewing & clip sites + peak effect of Big Brother during Spring

With higher audience shares

Weeks 1-40, 2012

20

43%

Online share of

commercial viewing

45%

21%

35% 38%

17%

Linear CSOV

(15-49)

21

Regional share of total advertising

(NOK / DKK / SEK billion)

50% 40% 60%

0

5

10

15

Total regional advertising (SEK 15 bn)

Number of regional TV3 Sweden broadcast zones increased from 6 to 19 on February 27th 2012

Combined TV, Radio & Internet Ad sales packages

Local Ad prices as much as 2.13x national prices

Local TV ad market up 22% y/y in 2011, compared to 2.5% y/y growth for total local ad market

And a regional opportunity

on top

Source: IRM Media, Regional market report,2012 & MTG estimates

TV4, 84%

MTG, 9%

Other, 7%

Regional TV advertising (SEK 860 mn)

Print, 63% Direct advertising,

14%

Internet, 14%

Radio, 4% TV, 5%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

2008 2009 2010 2011 2011 9M 2012 9M

Revenue EBIT EBIT margin

22

With lower growth

But healthy margins

SEK thousands

23

24

A well-positioned portfolio

Estonia Latvia** Lithuania