Presentation - Jetix Europe

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Presentation - Jetix Europe
Jetix Europe N.V.
Financial Results
For the six months ended March 31, 2006
June 8, 2006
Operating Review
Paul Taylor
Chief Executive Officer
Slide 2
Overview
‹
One of Europe’s leading kids’ entertainment
companies
‹
Broadcasting in 58 countries in 18 languages
via 15 channel feeds
‹
Reach 44.8 million households across Europe
and the Middle East
‹
Three operating divisions
‹
‹
‹
Channels and Online
Programme Distribution
Consumer Products
Slide 3
Operating Highlights
1
‹
Continued strong revenue, EBITDA and operating profit
growth
‹
Consumer Products revenue up 75%
‹
Renewal of significant channel distribution agreement
‹
Two European productions sold to Jetix U.S.
‹
New programme commissioned through global content
alliance
‹
Over 100 million page views per month on Jetix websites
Disney owns the Jetix brand in the U.S.
1
Slide 4
Global Content Alliance
Disney’s Television
Animation Division led
co-productions
Yin Yang Yo!
Jetix U.S.
• Branded block on
Toon Disney channel
Jetix Europe
• Network of 14
channel feeds1
Jetix Europe led
co-productions
A.T.O.M.
Oban Star-Racers
1
Jetix Europe’s 15th channel feed is GXT in Italy
Slide 5
Channels and Online
1
‹
Subscribers up by 7% to 44.8 million
‹
Strong subscriber growth in emerging markets
‹
Advertising growth strong in Italy, France and emerging markets
‹
Extended distribution with Sky in U.K. (option through 2012)
‹
Online page views exceed 100 million
‹
Digital media trials continuing
Broadcasting in 58 countries via 15
channel feeds in 18 languages
1
Versus year ended Sept 30, 2005
Slide 6
Programme Distribution
‹
Division stabilised, excluding timing issues and sales to Jetix U.S.1
‹
New flagship programming selling well, and successful on-air
‹
A.T.O.M. and Oban Star-Racers sold to Jetix U.S.1
‹
2 new series commissioned
‹
‹
Yin Yang Yo! to be co-produced with Disney
Captain Flamingo acquired from Breakthrough Entertainment
‹
Programme pipeline of 209 episodes
‹
87 new episodes delivered during the period
‹
Library of over 6,000 episodes 2
1
2
Disney owns the Jetix brand in the U.S.
Reduced from 6,600 at end of FY05 due to return of licenses to
original producer under a broader agreement
Slide 7
Consumer Products
‹
Consumer Products revenues up 75%, with significant
revenue from Master Toy licenses
‹
Power Rangers, represented by Disney Consumer Products,
continues to grow strongly
‹
A.T.O.M. notable success in home video
‹
Pucca continues to perform in merchandising
‹
Buena Vista Home Entertainment Power Rangers deal
renewed in UK and Ireland
‹
New rights secured for Yin Yang Yo! and Captain Flamingo
Slide 8
Financial Review
Dene Stratton
Chief Financial Officer
Slide 9
Financial Highlights
(First reporting period under IFRS and in Euros)
(Euro mil.)
H1 06
H1 05
(Unaudited)
(Unaudited)
Change
Revenue
84.5
69.6
21%
EBITDA
1
35.4
26.7
32%
Operating Profit
12.6
5.9
115%
Net Profit attributable to
shareholders
10.3
9.8
5%
Diluted EPS (cents)
12.2
11.6
5%
Operating Cash Flow
16.3
11.4
43%
1 Consistent
with prior years, EBITDA is stated before amortisation,
impairment and depreciation. EBITDA less amortisation impairment
and depreciation is equal to operating profit.
Slide 10
1
Revenue Analysis
Line of Business
Country
€84.5m
€84.5m
11.6
6.8
€69.6m
Consumer Products
6.7
Programme Distribution
6.0
Channels :
Advertising
Channels :
Subscription
& Other
Unaudited
5.9
10.8
8.9
Other
Germany
22.9
Benelux
4.9
5.2
8.2
France
8.9
Italy
8.9
CEE, Poland
& M. East
11.0
14.7
UK &
Ireland
22.5
23.2
H1 05
H1 06
20.0
41.1
11.3
11.8
36.9
H1 05
1
€69.6m
H1 06
Slide 11
1
Channels and Online
Financial Performance (€mil)
12%
64.0
57.0
H1 06
H1 05
12%
28.3
25.3
Revenues
1
Unaudited
Overview
‹
Revenue up 12% to €64.0 mil.
‹
EBITDA up 12% to €28.3 mil.
‹
EBITDA margin constant at
44%, despite increased costs
from GXT, new channel in Italy
EBITDA
Slide 12
1
Channels and Online Revenue
Breakdown by Type
Subscription (€mil)
9%
36.0
Advertising (€mil)
Other (€mil)
39.3
14%
22.9
20.1
1.8
99%
0.9
H1 05
1
Unaudited
H1 06
Slide 13
Programme Distribution
Financial Performance (€mil)
1
Overview
8.9
H1 06
H1 05
48%
‹
Revenue up 48% to €8.9 mil.,
driven by phasing and sales
to Jetix US
‹
EBITDA up 71% to €5.3 mil.
‹
EBITDA margin up from 52%
to 60%
6.0
5.3
71%
3.1
Revenues
1
Unaudited
EBITDA
Slide 14
1
Consumer Products
Financial Performance (€mil)
H1 06
H1 05
11.6
Overview
‹
Revenue up 75% to €11.6 mil.,
driven by master toy licence
revenue and strong Power
Rangers
‹
EBITDA up 251% to €6.2 mil.
‹
EBITDA margin up to 54%
75%
6.7
6.2
251%
1.8
Revenues
1
Unaudited
EBITDA
Slide 15
Cash Flow
Cash Flow (€mil)
Overview
16.3
5.5
3.8
1
‹
Cash from operations
increased by €4.9 mil.,
up 43%
‹
Investment in programming
increased by €2.3 mil. to
€17.5 mil., up 15%
‹
Cash and cash equivalents
increased by €21.5 mil., to
€123.4 mil.
Operating
Investing
Financing
11.4
(0.3)
(0.2)
H1 05
H1 06
Unaudited; Excludes Foreign Exchange Impact
1
Slide 16
Summary
‹
Continued strong revenue, EBITDA and
operating profit growth
‹
Content strategy, centred on the Jetix alliance
with Disney, delivering strong content and sales
to Jetix U.S.
‹
Consumer products division revenues up 75%
‹
Supported by Disney, the world’s leading
provider of family entertainment
© 2005 Jetix Europe. JETIX & JCP name and logo © and ™ Disney Enterprises, Inc.
Slide 17
Appendix
Slide 18
Households Reached
9.7
9.6
UK & Ireland
H1 06
1
FY 05
6.7
6.6
Netherlands
6.6
CEE
5.8
3.6
3.3
Italy
3.6
3.4
France
2.9
2.6
Poland
2.5
Scandinavia
1.9
2.2
1.9
Spain
Germany
2.1
2.0
Hungary/Czech/Slov
2.0
1.9
1.8
1.7
Turkey
0.8
0.8
Israel
0.3
0.3
Greece
0.0
2.0
4.0
6.0
8.0
10.0
12.0
Million Households
1
Versus year ended Sept 30, 2005
Slide 19
1
Foreign Exchange
(Euro mil.)
H1 06
Actual
Change
due to FX
H1 06 @
2
H105 rates
Change
H1 05
Actual
Group revenues
– Channels and online
– Programme distribution
– Consumer products
Costs and expenses
EBITDA
Depreciation and amortisation
Operating income
1
2
64.0
0.5
63.5
6.5
57.0
8.9
0.1
8.8
2.8
6.0
11.6
0.6
11.0
4.4
6.6
84.5
1.2
83.3
13.7
69.6
(49.1)
(1.2)
(47.9)
(5.0)
(42.9)
35.4
-
35.4
8.7
26.7
(22.8)
(1.4)
(21.4)
(0.6)
(20.8)
12.6
(1.4)
14.0
8.1
5.9
Unaudited
Average of actual rates for six months ended March 31, 2005
Slide 20

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