pdf 6 MB - ProSiebenSat.1

Q3 2012
November 8, 2012
| November 8, 2012
Page 1
Q3
At a glance
Thomas Ebeling, CEO
| November 8, 2012
Page 2
ProSiebenSat.1 has achieved solid financials in Q3 2012
Group continues revenue and earnings growth
✔
Dynamic revenue growth outside core business TV
✔
Improved financial result through significantly lower
interest expenses
✔
Underlying net income more than doubled
✔
| November 8, 2012
Page 3
Financial highlights in Q3 2012
[EURm]
Revenues
636.9
+7.1% ✔
Recurring EBITDA
167.3
+2.3% ✔
65.1
+184.3% ✔
Underlying net income
| November 8, 2012
Continuing operations.
Page 4
Continuing strong growth of business segments
Digital & Adjacent and Content Production & Global Sales in Q3
1
Revenue
growth
vs. Q3 2011
Broadcasting
German-speaking
2
Broadcasting
International
3
Digital
& Adjacent
4
Content Production
& Global Sales
-EUR 13.0m
+EUR 10.9m
+EUR 29.1m*
+EUR 16.0m
-3.2%
+8.8%
+51.2%*
+168.4%
| November 8, 2012
Continuing operations. *Revenues excl. 9Live.
Page 5
Q3/FY German-speaking TV advertising revenue growth
comparison illustrates effect of tough comparables
German-speaking TV advertising revenue growth
[Q3/FY 2011/12]
8%
+6.3%
6%
4%
+2.6%
>+1.0%
2%
Q3 strongest
quarter in terms of
German-speaking
TV advertising
revenue growth
in 2011
0%
-2%
-2.9%
-4%
-6%
Q3 2011
FY 2011
| November 8, 2012
Continuing operations. P7S1 estimates.
Q3 2012
FY 2012E
Page 6
We have already achieved 42 percent of our 2015 revenue
growth target
>100
Revenue growth
[EURm]
>250
>750
>150
>250
2010*
Thereof already
realized*
Broadcasting
German-speaking
Broadcasting
International
EUR 43m
EUR 91m
EUR 124m*
17%
61%
50%*
Degree of
achievement*
| November 8, 2012
Continuing operations. *Revenues excl. 9Live.
Digital &
Adjacent
Content Production &
Global Sales
EUR 56m
56%
2015e
EUR 314m
42%
Page 7
Broadcasting German-speaking segment with back-loaded
growth opportunities to hit CMD targets…
Initiatives
2011
2012
2013
2014
2015
1 Print vs. TV fair share/media mix
2 Pricing opportunities
3 Ad intensity recovery
4 Expand target groups
MAXX
5 New markets (e.g., lottery, betting)
6 Ban public sponsoring
7 Regional advertising
Testing phase
8 Transaction models (e.g., HbbTV)
| November 8, 2012
Page 8
…supported by potential advertising share gains
Audience shares
[in percent]
Net advertising shares
[in percent]
-0.8%pts
-0.7%pts
28.5
27.7
41.6
40.9
9M 2011
9M 2012
9M 2011
9M 2012
-2.4%pts
29.8
9M 2011
+0.9pts
27.4
39.3
40.2
9M 2012
9M 2011
9M 2012
| November 8, 2012
Basis: All German TV households (Germany + EU), 14-49 years; Mon-Sun, 3-3h. RTL Group: incl. RTL Nitro with 0.3% from April 2012 onwards; excl. RTL II with 6.3% in 9M 2012 (9M 2011: 5.5%).
Source: AGF/GfK Fernsehforschung / TV Scope / ProSiebenSat.1 TV Deutschland Audience Research; Net Advertising Shares: Own estimates based on Nielsen gross values.
Page 9
Q3
Financial Performance Review
Axel Salzmann, CFO
| November 8, 2012
Page 10
Q3 2012: Strong revenue increase and further recurring
EBITDA improvement
Consolidated revenues
[EURm]
Recurring EBITDA
[EURm]
+2.3%
+7.1%
700
600
594.5
636.9
200
163.6
167.3
Q3 2011
Q3 2012
150
500
400
100
300
200
50
100
0
0
Q3 2011
Q3 2012
Recurring EBITDA margin:
26.3% (-1.3%pts)
| November 8, 2012
Continuing operations.
Page 11
Q3 2012: Revenue contribution of Digital & Adjacent segment
increased to 13.5%
External revenues
[EURm]
500
400
300
200
100
0
Broadcasting
German-speaking
Broadcasting
International
Digital & Adjacent
Content Production &
Global Sales
-3.2%
+8.8%
+49.7%
+168.4%
404.4
391.4
100
200
150
123.2
134.1
100
50
50
25
0
Q3 2011
75
Q3 2012
85.9
57.4
0
Q3 2011 Q3 2012
Q3 2011 Q3 2012
50
40
30
20
10
0
29.1*
35.5*
25.5
9.5
Q3 2011
Q3 2012
TV advertising
revenues: -2.9%
| November 8, 2012
Continuing operations. *Total revenues incl. internal revenues.
Page 12
9M 2012: Group revenues and recurring EBITDA developed
in line with full year targets
Consolidated revenues
[EURm]
2,000
Recurring EBITDA
[EURm]
+6.0%
1,882.5
1,995.0
1,600
600
+3.8%
532.3
552.4
9M 2011
9M 2012
450
1,200
300
800
150
400
0
0
9M 2011
9M 2012
Recurring EBITDA margin:
27.7% (-0.6%pts)
| November 8, 2012
Continuing operations.
Page 13
9M 2012: Flat German-speaking TV advertising revenues and
dynamic revenue growth in all other segments
External revenues
[EURm]
1,600
Broadcasting
German-speaking
Broadcasting
International
Digital & Adjacent
Content Production &
Global Sales
-0.5%
+7.1%
+31.6%
+195.7%
1,287.3
1,280.3
1,200
800
400
0
9M 2011 9M 2012
500
400
300
200
100
0
403.2
431.8
9M 2011 9M 2012
TV advertising
revenues: +0.1%
| November 8, 2012
Continuing operations. *9Live revenues 9M 2011: EUR 16.6m. **Total revenues incl. internal revenues.
250
200
150
100
50
0
228.5
173.6
9M 2011 9M 2012
100
80
60
40
20
0
75.1**
81.8**
54.4
18.4
9M 2011 9M 2012
Revenue growth
excl. 9Live*: +45.5%
Page 14
Broadcasting German-speaking: Q3 development
affected by strong prior-year figures
External revenues and recurring EBITDA
[EURm]
Q3
2012
Q3
2011
y-o-y
9M
2012
9M
2011
y-o-y
Comments
Ext. revenues
391.4
404.4
-3.2%
1,280.3
1,287.3
-0.5%
Flat TV advertising revenues
in the first nine months and
slightly lower program sales
Thereof ad revs.
371.8
382.9
-2.9%
1,220.9
1,220.3
+0.0%
Rec. EBITDA
122.3
| November 8, 2012
Continuing operations.
130.9
-6.6%
407.5
402.8
+1.2%
Recurring
EBITDA
improvement in the first nine
months due to good cost
control
Page 15
Broadcasting International: Segment revenues again
benefited from strong Nordic operations
External revenues and recurring EBITDA
[EURm]
Q3
2012
Ext. revenues
Rec. EBITDA
134.1
24.7
| November 8, 2012
Continuing operations.
Q3
2011
123.2
17.3
y-o-y
+8.8%
+42.8%
9M
2012
431.8
87.4
9M
2011
403.2
78.4
y-o-y
Comments
+7.1%
Continued strong growth of
TV advertising and carriage
revenues in the Nordic region
+11.5%
Q3 recurring EBITDA driven
by higher profits in the Nordic
region as well as minor
improvement
in
CEE
countries
Page 16
Digital & Adjacent: All key pillars contributed to
dynamic segment revenue growth
External revenues and recurring EBITDA
[EURm]
Q3
2012
Ext. revenues
Rec. EBITDA
85.9
21.7
Q3
2011
57.4
13.8
y-o-y
+49.7%1
+57.2%3
9M
2012
228.5
59.4
| November 8, 2012
Continuing operations. 1) 9Live adjusted revenue growth: 51.5%. 2) 9Live adjusted revenue growth: 45.5%.
3) 9Live adjusted rec. EBITDA growth: 61.9%. 4) 9Live adjusted rec. EBITDA growth: 64.1%.
9M
2011
173.6
43.2
y-o-y
Comments
+31.6%2
Revenue growth driven by
online
video
advertising,
maxdome, online games,
music and ventures business
+37.5%4
Recurring EBITDA benefited
disproportionately
despite
continuing investments in
growth opportunities
Page 17
Content Production & Global Sales: Improved
geographical footprint turned into strong revenue growth
External revenues and recurring EBITDA
[EURm]
Q3
2012
Q3
2011
y-o-y
9M
2012
9M
2011
y-o-y
Ext. revenues
25.5
9.5
+168.4%
54.4
18.4
+195.7%
Total revenues
35.5
29.1
+22.0%
81.8
75.1
+8.9%
Rec. EBITDA
-1.4
| November 8, 2012
Continuing operations.
1.3
-207.7%
-1.9
4.6
-141.3%
Comments
Segment revenues benefited
from geographical expansion
into key territories UK and US
Recurring
EBITDA
still
affected by expansion of
content
production
and
distribution business
Page 18
Group revenue growth contribution of Digital & Adjacent
segment increased to 55% in 9M 2012
External revenue growth
[EURm/in percent] 2,000
+196%
+46%*
+7%
36.0
1,950
71.5*
+7%
1,900
-1%
-7.0
1,995.0
28.6
1,850
1,865.9*
1,800
9M 2011
Broadcasting
German-speaking
| November 8, 2012
Continuing operations. *Adjusted for 9Live revenues of EUR 16.6m in 9M 2011.
Broadcasting
International
Digital & Adjacent Content Production
& Global Sales
9M 2012
Page 19
Net income showed strong improvement on higher operating
profits and lower financial expenses
[EURm]
Q3 2012
Q3 2011
y-o-y
9M 2012
9M 2011
y-o-y
Revenues
636.9
594.5
+7.1%
1,995.0
1,882.5
+6.0%
Recurring EBITDA
167.3
163.6
+2.3%
552.4
532.3
+3.8%
-12.2
-29.9
+59.2%
-53.4
-60.7
+12.0%
0.0
0.0
n/a
-27.5
0.0
n/a
155.1
133.7
+16.0%
499.0
471.6
+5.8%
-28.0
-32.7
+14.4%
-90.3
-108.7
+16.9%
Operating result (EBIT)
127.1
101.0
+25.8%
408.7
362.9
+12.6%
Financial result
-37.0
-82.4
+55.1%
-119.2
-177.0
+32.7%
-38.6
-49.6
+22.2%
-122.6
-154.0
+20.4%
Net income*
61.3
11.4
>+100%
196.0
127.0
+54.3%
Underlying net income
65.1
22.9
>+100%
241.1
152.1
+58.5%
Non-recurring items
Thereof provision for cartel fine
EBITDA
Depreciation and amortization
Thereof interest result
| November 8, 2012
Continuing operations. *After non-controlling interests.
Page 20
Net debt in line with prior year’s level despite acquisitions in
the amount of >EUR 40m and increased 2011 dividend
Net debt
[EURm]
Net financial debt
2,075
-9
2,066
09/30/2011
Net debt
reduction
09/30/2012
| November 8, 2012
Financial leverage: Net debt/LTM recurring EBITDA: LTM recurring EBITDA of EUR 870.1m (excl. BE/NL).
Financial leverage
improved to 2.4x on
September 30, 2012,
down from 2.5x last
year
Page 21
We confirm our FY 2012 targets
FY 2012 targets
9M 2012
+6.0%
mid-single digit
Recurring EBITDA/recurring EBITDA margin
+3.8%/27.7%
>EUR 850m/~30%
Interest result and finance cost reduction
EUR 54.2m
>EUR 50m
+58.5%
further improvement
Group revenue growth
Underlying net income
| November 8, 2012
Continuing operations.
Page 22
Q3
Operational Performance
Thomas Ebeling, CEO
| November 8, 2012
Page 23
1. Broadcasting
German-speaking
Thomas Ebeling, CEO
| November 8, 2012
Page 24
Ratings impacted by challenging sports year 2012
Audience shares
[in percent]
Q3 2011
Q3 2012
9M 2011
9M 2012
Germany
29.4%
26.8%
28.5%
27.7%
Austria
20.3%
20.7%
20.1%
20.7%
Switzerland
16.2%
14.4%
16.4%
14.4%
| November 8, 2012
Page 25
Basis for GER: All German TV households (Germany + EU), 14-49 years; Mon-Sun, 3-3h. Source: AGF/GfK Fernsehforschung/TV Scope/ProSiebenSat.1 TV Deutschland Audience Research. CH: Swiss channels SAT.1, ProSieben, kabel eins;
key demographics 15–49, since 2011 include solely the use of the Swiss signal/program window. A: SAT.1 Österreich, ProSieben Austria, kabel eins austria and PULS 4. Figures for A and CH are based on 24 hours in key demographics (Mon-Sun).
German stations expected to perform almost in line with
previous sports years
Audience shares
[in percent]
28.0
28.8
28.5
2008
2009
2010
Sports year
Sports year
28.9
2011
27.7-28.0
2012
Estimate;
sports year
| November 8, 2012
Basis: All German TV households (Germany + EU), 14-49 years; Mon-Sun, 3-3h. Source: AGF/GfK Fernsehforschung/TV Scope/ProSiebenSat.1 TV Deutschland Audience Research.
Page 26
German stations ahead of key competitor
Audience shares
[in percent]
-2.4%pts
-0.8%pts
29.8
28.5
9M 2011
27.7
9M 2012
27.4
9M 2011
9M 2012
| November 8, 2012
Basis: All German TV households (Germany + EU), 14-49 years; Mon-Sun, 3-3h. RTL Group: incl. RTL Nitro with 0.3% from April 2012 onwards; excl. RTL II with 6.3% in 9M 2012 (9M 2011: 5.5%).
Source: AGF/GfK Fernsehforschung / TV Scope / ProSiebenSat.1 TV Deutschland Audience Research.
Page 27
Outperforming the competition in commercial universe
Audience shares, commercial universe: Excl. ad free public stations and channels below 0.5% audience shares*
[in percent]
-2.1%pts
+-0.0%pts
| November 8, 2012
37.0
37.0
9M 2011
9M 2012
38.3
36.2
9M 2011
9M 2012
Page 28
Basis: All German TV households (Germany + EU), 14-49 years; Mon-Sun, 3-3h., excl. ad free public stations (e.g., 3sat, Arte) and excl. ARD/ZDF on weekdays after 8pm and on weekends/bank holidays;
excl. channels below 0.5% audience shares. Source: AGF/GfK-Fernsehforschung / TV Scope / SevenOne Media.
ProSiebenSat.1 most awarded private TV group
at „Deutscher Fernsehpreis 2012“
Best entertainment show
The Voice of Germany
Best TV series
Der letzte Bulle
Best comedy
Knallerfrauen
Entertainment
Joko & Klaas
Special award
for exceptional
TV performance*
| November 8, 2012
E.g., for the ProSieben entertainment show „Joko gegen Klaas – Das Duell um die Welt“.
Page 29
Lighthouse formats with strong ratings in Q3/Q4 2012
31.2%
30.2%
Up to
share of viewing
Joko gegen Klaas –
Das Duell um die Welt
Up to
share of viewing
The Voice of Germany II
Since Oct 18, 2012
19.6%
21.7%
Up to
share of viewing
Knallerfrauen
share of viewing
TV total Quizboxen
Since Oct 19, 2012
| November 8, 2012
Basis: All German TV households (Germany + EU), 14-49 years; Mon-Sun, 3-3h; except „Joko und Klaas – Das Duell um die Welt“: 14-29 years.
AGF/GfK-Fernsehforschung / TV Scope / ProSiebenSat.1 TV Deutschland Audience Research.
Page 30
Sustained strong position in all German-speaking
ad markets in first nine months
P7S1 gross advertising market share
[in percent]
Q3 2011
Q3 2012
9M 2011 9M 2012
Germany
43.6%
42.5%
41.9%
42.5%
Austria
31.9%
33.6%
30.7%
32.5%
Switzerland 25.9%
27.1%
25.6%
26.2%
| November 8, 2012
Source: Germany: gross (excl. 9Live), Nielsen Media Research. Austria: gross, Media Focus. Switzerland: gross, Media Focus.
*Own estimates (as of September 30, 2012).
Net share
development*
Page 31
TV and Online continue to gain advertising share
at the expense of print in Germany
Gross TV ad spendings
[9M 2012 vs. 9M 2011]
EURm
Media mix, in %pts
184
Total
196
TV
312
Online
Radio
44
1.0%
18.2%
Magazines
-3.9%
-30
| November 8, 2012
Source: Nielsen Media Research.
1.6%pts
4.3%
-5.8%
Outdoor, Cinema
0.7%pts
2.6%
Newspapers -225
-114
n.a.
-3.0%
0.2%pts
-1.5%pts
-0.8%pts
-0.2%pts
Page 32
TV share rises in 9 out of 10 top industries
despite budget reduction in food, trade and finance
Gross TV investments top 10 TV industries, Germany
[9M 2012 vs. 9M 2011]
Total
Food
White line
-40
196
-15
Cosmetics & Toiletries
34
Business Services
Trade & Shipment
50
-19
39
Motor Vehicles
1
Beverages
Telecommunication
Finance
Pharmacy
Detergents
10
-8
8
2
| November 8, 2012
Source: Nielsen Media Research / SevenOne Media, Market Intelligence, excl. Media.
EURm
Δ in %
Δ TV in
media mix, in %pts
7,645
2.6%
0.7%pts
1,168
-1.3%
0.4%pts
960
3.6%
1.3%pts
605
8.9%
0.8%pts
592
584
-3.0%
2.2%pts
7.1%
-1.1%pts
486
0.2%
1.3%pts
440
2.2%
415
-1.9%
3.3%pts
2.3%pts
322
2.7%
3.3%pts
278
0.7%
0.6%pts
Page 33
Positive market growth continues;
Q4 might benefit from trend to back-loading
German net TV ad market growth
[in percent]
Q3: estimate + 1%
H1 2011: ~+ 1%, H1 2012: ~+2%
2011
2012
2011
2012
Q2
Q1
| November 8, 2012
Source: Own estimates based on ZAW.
2012
2011
Q3
Q4: positive start
2011
2012
Q4
Page 34
Net TV ad market growth probably stronger in 2012
German net TV ad market growth
[in percent]
1.0-2.0%
0.7%
2011
2012
| November 8, 2012
Source: Own estimates based on ZAW and Nielsen gross values.
Page 35
Positive price development continues in German ad market
Gross CPT* growth 9M 2012
[in percent vs. YE 2011]
11.5
7.8
7.5
5.9
2.0
| November 8, 2012
Source: AGF/GfK-Fernsehforschung / DAP TV Scope / SevenOne Media.
* CPT = Cost per thousand.
Page 36
Market research firms expect continuing German TV
advertising growth
German net TV ad market estimates 2013
[in percent]
+2.2%
+1.9%
+1.3%
| November 8, 2012
Source: ZenithOptimedia Advertising Expenditure Forecasts September 2012, Warc International Ad Forecast June 2012, PwC German entertainment and media outlook 2012-2016 October 2012.
Page 37
Outperforming key competitor in Austria
Audience shares
[in percent]
+0.4%pts
20.3
-1.1%pts
20.7
14.0
Q3 2011
Q3 2012
| November 8, 2012
Basis for Austria: 12-49 years; period: Q3 2012. SevenOne Austria excl. sixx Austria since July 3, 2012,; sixx Austria with 1.1% in Q3 2012.
Source: AGTT/GfK Fernsehforschung; Evogenius Reporting.
Q3 2011
12.9
Q3 2012
Page 38
Fastest growing group in Q3, taking TV ad market leadership
Advertising market share, gross
[EURm]
+9.5%
+10.1%
54.7
49.7
-4.1%
54.2
49.5
36.5
Q3 2011
+1.2%
Q3 2012
| November 8, 2012
Source: Media Focus 2011/2012, Q3 2012.
IP incl. RTL II.
Q3 2011
Q3 2012
Q3 2011
35.0
Q3 2012
12.1
12.2
Q3 2011
Q3 2012
Page 39
Number of paying HD Free subscribers almost tripled YTD
HD Free paying subscribers in Germany
[in million households, monthly average]
Cable
IPTV
Satellite
HD technical reach
4.5
3.7
Technical reach will more than double
in 2012
2.9
2.0
2.1
1.6
1.3
0.7
Dec 11
0.7
1.3
HD Free paying subscribers to reach
~50% penetration in 2012
~2.5m subscribers at the end of 2012
1.0
0.5
0.5
0.7
Mar 12
0.1
Jun 12
0.1
Sep 12
| November 8, 2012
Note: All figures are for paying subscribers, final DTAG subscriber figures not reported yet. Source: ProSiebenSat.1.
Page 40
Strong growth in number of basic Pay-TV subscribers
Basic Pay-TV subscribers in Germany
[in million households, monthly average]
Cable
IPTV
Satellite
3.5
3.3
2.8
2.9
1.4
1.5
1.6
1.6
1.4
1.5
~3.6m subscribers at the end of 2012
Dec 2011
Mar 12
| November 8, 2012
Source: ProSiebenSat.1.
0.3
Jun 12
0.4
Sep 12
Page 41
Key takeaways and sales outlook
1
TV and online gaining at the expense of print
2
Positive pricing development continues
3
Continued low single-digit full-year ad market growth outlook
4
Promising start into Q4
5
In 2012, P7S1 will perform almost in line with the market in Germany,
better in Austria and Switzerland
| November 8, 2012
Page 42
2. Broadcasting
International
Thomas Ebeling, CEO
| November 8, 2012
Page 43
Continued strong audience share increase across
all markets in the first nine months of 2012
Audience shares
[in percent]
Q3 2011
Q3 2012
Denmark
15.9%
19.4%
16.1%
19.1%
Sweden
13.6%
13.1%
13.5%
13.8%
Norway
17.0%
19.4%
17.0%
19.0%
Finland
6.2%
7.0%
5.0%
6.2%
| November 8, 2012
9M 2011 9M 2012
Page 44
Total Universe. Denmark: Key demographic age 15-50; 17-24h; based on 14 advertising-financed TV stations; incl. Voice. Finland: key demographic age 15-44; 17-24h; incl. Voice from Apr 2011 on. Norway:
key demographic age 12-44; 17-24h; incl. The Voice and from Jan 2012 on: VOX. Sweden: key demographic age 15-44; 17-24h. Source: AdvantEdge; Finnpanel OY; MMS/AGB Nielsen; TNS-Gallup; 18-24h.
Significant ad share gains in all Nordic countries
in the first nine months of 2012
Net TV advertising market share
[in percent]
Q3 2011
Q3 2012
Denmark
14.9%
16.0%
14.8%
16.7%
Sweden
14.7%
14.7%
15.1%
15.6%
Norway
24.3%
28.7%
24.3%
27.5%
Finland
2.6%
5.1%
2.3%
4.4%
| November 8, 2012
9M 2011 9M 2012
Page 45
Source: Own estimates and media agency input. Share of advertising in Denmark, Finland, Norway, Sweden refers to net share of advertising. Q3 actual 2012 TV ad market is based on latest estimates.
Gross TV advertising market share will be released by Zenith Optimedia after date of publication.
P7S1 channels outperformed ad markets in all countries
Net TV advertising market, P7S1 market share, net cash advertising revenues
[in percent and %pts]
Q3 2012 vs. Q3 2011
9M 2012 vs. 9M 2011
Ad
market
P7S1
market share
Denmark
-12.6%
+1.1%pts
-5.6%
-5.7%
+1.9%pts
+6.4%
Sweden
+4.6%
0.0%pts
+11.8%
+4.7%
+0.5%pts
+10.2%
Norway
+3.1%
+3.4%pts
+27.4%
+5.9%
+3.2%pts
+24.3%
Finland
+1.2%
+2.5%pts
+76.5%
+0.6%
+2.1%pts
+72.7%
| November 8, 2012
Ad
revenues
Ad
market
P7S1
market share
Ad
revenues
Page 46
Source: Own estimates and media agency input. Share of advertising in Denmark, Finland, Norway, Sweden refers to net share of advertising. Q3 actual 2012 TV ad market is based on latest estimates.
Gross TV advertising market share will be released by Zenith Optimedia after date of publication.
Distribution revenues in Nordic countries represent
a substantial share of total revenues
Carriage revenues
[in percent]
Share of
carriage revenues
in total revenues
in Q3 2012
Growth of
carriage revenues
in Q3 2012 vs. Q3 2011
Growth of
carriage revenues
in 9M 2012 vs. 9M 2011
Denmark
59%
+11.3%
+11.3%
Sweden
28%
+14.3%
+8.3%
Norway
24%
+9.2%
+10.2%
| November 8, 2012
FTV Finland does not have carriage revenues. The calculation of total share of carriage revenues based on Nordic group (incl. total revenues of FTV Finland).
Page 47
Continued strong performance in Nordic countries
Increased share of viewing in all countries
✔
Increased share of advertising in all countries
✔
Long-term earnings secured through carriage model
✔
| November 8, 2012
Page 48
3. Digital & Adjacent
Dr. Christian Wegner,
Chief Digital & Adjacent Officer
| November 8, 2012
Page 49
All key business units show strong growth in 9M 2012
Revenues
[9M 2012 vs.
9M 2011]
Revenue growth
vs. 9M 2011
Online Video
+51%
Online Games
+66%
| November 8, 2012
Note: External revenues growth rates vs. 2011; excl. 9Live; Online Video incl. external mandates.
Ventures &
Commerce
+90%
Music
+46%
Page 50
InStream market leadership with 1.3bn video views for
9M 2012
InStream video ad market
[Gross, EURm, Germany]
+23%
InStream video, advertising market share
[Gross, Germany]
+23%
Other
143
19%
IP
116
30%
9M 2012
42
51
SevenOne Media
51%
Q3 2011
Q3 2012
9M 2011
9M 2012
SevenOne Media: 1.3bn video views* in 9M 2012
| November 8, 2012
Source: Nielsen Media Research YTD Sep 2012.
Note: *YTD Sep 2012; incl. UGC, incl. mandates; source: own estimates and Webtrekk.
Page 51
Strong second screen and social media presence for
"The Voice of Germany"
Second Screen App "Connect"
• Meeting point to interact with other viewers
(~100k app users, ~1m website users)
• Live polls enrich experience
("Applausometer") – Ø length of stay 46min
| November 8, 2012
The Voice Social Media
• “The Voice of Germany” featured on top
social media channels (~0.6m FB fans)
• Formats trigger TV viewing, interaction
and provide background information
Page 52
Dynamic growth of Online Games fueled by strong
pipeline and media partnerships
Dynamic revenue growth
Successful launch of
DC Universe Online
Strong pipeline with
blockbusters
+66%
Future media partnerships
9M 2011
9M 2012
Mobile games platform
| November 8, 2012
Page 53
Successful launch of DC Universe Online
with >1.2m verified accounts
• >1.2m total verified accounts
• Daily active users doubled since launch
• Daily registrations 5x since P7S1 launch
• 80% of users outside Germany
| November 8, 2012
Page 54
New blockbuster releases in the next quarters
PlanetSide 2
Everquest II
Q4 2012
| November 8, 2012
Q1 2013
Page 55
12 international TV and Online partnerships –
Lighthouse partnerships signed with TF1 and Doğan
• Partnership with TF1 started in August
• French games market with 23.3m
active gamers and EUR 3.1bn
consumer spending
Additional intl. partners:
| November 8, 2012
Source: Newzoo 2012.
• Exclusive partnership signed with
•
Doğan TV Holding in October
Turkish games market with 21.8m
active gamers
playinalive
Page 56
Full launch of mobile aggregation games app in Q1 2013
targeting ~22m mobile games users in Germany
Mobile games app
Own mobile games
aggregation platform
Mobile games channel
Selected mobile
games on P7Games.de
| November 8, 2012
Source: Newzoo 2012, PWC 2012-2016.
Mobile games talent pool
We offer customers
AAA games on
mobiles and Smart TVs
Early stage media funding in small and
promising mobile games developer
Mobile games ad networks
Cross promotion platform and
barter deals with other apps
Page 57
Dynamic growth of Ventures & Commerce
Deal flow
Revenue growth YTD vs. PY*
• 48 active deals
YTD
+90%
• 40+ deals under negotiation
• Target long list: ~270
| November 8, 2012
Note: *External revenues growth rates vs. 2011, excl. 9Live.
Page 58
Strong Ventures portfolio will be extended through
strategic investments
Portfolio as of Q3 2012
Strategic roadmap
Start: 2010/11
2012/13
2013
Number of investments
13
Run logistics
Source goods
Sell services
Integrate IT platforms
3
4
4
25-50%
>50%
Find partners
Aggregate content
Invest media
Optimize marketing mix
<10%
Digital commerce
Media investments
| November 8, 2012
Note: Includes direct and indirect equity.
Lifestyle commerce
Majority media investments
10-25%
P7S1 equity stake
+24 M4R deals
Page 59
New strategic SevenVentures deals: Covus and apomio
Covus
• P7S1 owns majority stake of 51%
• Platform and expert team to build
digital market places for SevenVentures
• Combination of resources: Build
category leader by combination of TV
power and entrepreneurial team
• Project pipeline in P7S1 target group
markets – games, software and
entertainment (browsergames.de,
freemium.com, gutscheincodes.de)
| November 8, 2012
apomio
• Option for P7S1 to expand equity
position from currently 19.9% to majority
stake
• Online-based price comparison platform
with focus on drugs and pharmacy
products
• Opportunity to develop a category leader
in a large, high growth market and
synergy potential with other M4R/M4E
deals in health industry
Page 60
TV is the nucleus for our D&A developments to grow revenues
organically beyond EUR 500m until 2015 – upside through M&A
Initiatives to drive further growth
P7S1 Vision
Our vision is to become
Online
Video
Increase content, convenience and mobile
accessibility of MyVideo and maxdome
Online
Games
Enlarge games pipeline and international
distribution partnerships
a broadcasting,
digital entertainment
and commerce
powerhouse by using
Ventures &
Commerce
Expand media investment in focus areas, with
40+ deals under negotiation
Music
Broaden artist base and explore opportunities
in digital/retail distribution
our TV Power and idle
ad inventory
| November 8, 2012
Page 61
4. Content Production &
Global Sales
Thomas Ebeling, CEO
| November 8, 2012
Page 62
Solid growth in scale across portfolio of activities
 More than 400 formats currently in development
Development
Production

230+ pitch-ready titles

600+ hours produced in 2012,
covering both scripted and non-scripted content

Sales

| November 8, 2012
500+ titles in the 2012 catalogue
Programs sold into more than 130 countries
Page 63
Positive pick-up of “THE TASTE”
Food-based competition-elimination series
4 superstar chefs, including Nigella Lawson
First-time ever blind tasting
Picked up by abc (USA), FOX (India), M6 (France)
| November 8, 2012
Page 64
From a start-up to top 10 in under three years
Rank Independent production group1
Rank1
Distribution company
1
FremantleMedia
1
BBC Worldwide
2
Endemol
2
FremantleMedia
3
Shine
3
ITV Global Entertainment
4
All3Media
4
Endemol (EWD)
5
Zodiak
5
Red Arrow International
6
Banijay
6
Zodiak Rights
7
Eyeworks
7
Shine
8
All3Media
8
Red Arrow Entertainment Group
9
Talpa
10
Tinopolis
| November 8, 2012
Based on est. 2011 revenues. Source: Red Arrow analysis and company information.
1Defined as working independently regardless of ownership by a broadcaster group or studio.
Page 65
Based on 2011 gross revenues. Source: Red Arrow analysis and company information.
1Cut-off at EUR 50m gross revenues.
Summary and Outlook
Thomas Ebeling, CEO
| November 8, 2012
Page 66
We confirm our positive full-year outlook
1
Full-year guidance with third consecutive year of
EBITDA growth reaching new record level
2
We confirm our Capital Markets Day targets
3
Very dynamic performance in key growth areas
HD, Nordics, Digital & Adjacent and Production
4
Transformation into a digitalized broadcasting
company progressing
| November 8, 2012
Page 67
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, expressed 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.
| November 8, 2012
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| November 8, 2012
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