Presentation - Jetix Europe

Transcription

Jetix Europe NV
Financial Results – Year ending September 30, 2005
December 8, 2005
Operating Review
Paul Taylor
Chief Executive Officer
Slide 2
Overview
One of Europe’s leading kids’ entertainment
companies
Revenue of $188 million
Broadcasting in 58 countries in 18 languages
via 15 channel feeds
Three operating divisions
Channels and Online
Programme Distribution
Consumer Products
Slide 3
Operating Highlights
Another strong year

Jetix renaming completed

First full year of Disney programming alliance

Content pipeline significantly improved

Subscribers up by 3.5 million to 41.8 million

Major channel distribution deals renewed

Programme distribution profit returned to growth

Strong performance from consumer products
Slide 4
Jetix Renaming Completed

All channels now renamed as Jetix

First channel to rename was France in August 2004

Majority of channels switched in January 2005

Last channel to rename was Germany in June 2005

Online activities also re-branded

Programming sold under the Jetix brand

Consumer products renamed as Jetix Consumer
Products (JCP)

All corporate activities and stock listing operate as
Jetix Europe
Slide 5
Content
Heart of the Company

Significant increase in volume of programming in
production – 244 episodes of work in progress

Exciting new properties in production

Pucca
“New Live Action”
Programme franchises developing

Oban Star-Racers
Get Ed
A.T.O.M. (Alpha Teens on Machines) II
W.I.T.C.H. II
Power Rangers – strong performance
Slide 6
Channels and Online
Strong Growth Continues

Jetix renaming complete

Subscribers up by 9% to 41.8 million

Key channel distribution deals renewed

Strong advertising growth in most markets

New media trials underway

Launch of new channel in Italy - GXT
Broadcasting in 58 countries via 15
channel feeds in 18 languages
Slide 7
Households Reached
By Territory
UK & Ireland
9.1
9.6
Sep-05
Sep-04
6.6
6.8
Netherlands
5.8
CEE
4.5
France
3.0
3.4
Change in
overlap estimates
3.3
Italy
2.8
2.6
2.3
Poland
1.9
2.1
Scandinavia
2.0
1.8
Germany
Spain
1.9
1.7
Hungary/Czech/Slov
1.9
1.6
1.7
1.6
Turkey
0.8
0.7
Israel
0.3
0.3
Greece
0.0
2.0
4.0
6.0
8.0
10.0
12.0
Million HH’s
Slide 8
Set for return to growth
Revenue up marginally, profit up
137 new episodes delivered

First Disney TVA co-production : SRMTHG!
Major Jetix Europe led co-productions : A.T.O.M.;
W.I.T.C.H
Flagship programming : Power Rangers – Space Patrol
Delta
Acquired programming : Sonic X
Programming performing well on-air
Over 6,600 episodes* in library
* Half hour equivalents, as at September 30, 2005
Slide 9
Consumer Products
Power Rangers continues strong performance
Pucca and Sonic X notable merchandising highlights
Pucca license extended and improved
Home entertainment had an excellent year
New rights coming from new productions

Oban Star Racer

“New mystery live action”
Slide 10
Financial Review
Dene Stratton
Chief Financial Officer
Slide 11
Financial Highlights
As reported basis
(US $ Mil)
FY 05
FY 04
Change
Revenue
187.8
165.3
14%
EBITDA
65.5
51.0
28%
Operating Income
22.3
5.1
333%
Diluted EPS (cents)
23.5
6.9
241%
Operating Cash Flow
30.9
30.9
-
Slide 12
Financial Highlights
Pro Forma Basis*
(US $ Mil)
FY 05
FY 04
Pro Forma*
Change
EBITDA
65.5
58.0
13%
Operating Income
22.3
13.2
69%
Diluted EPS (cents)
23.5
16.1
46%
* excludes non-recurring relocation
costs in FY 04
Slide 13
Revenue Contribution
Breakdown by LOB and geographic segment
Line of Business
Country
$187.8 m
$187.8 m
Consumer
Products
Channels :
Advertising
Channels :
Subscription
& Other
Programme
Distribution
$165.3 m
$165.3 m
18.4
13.3
47.1
41.4
97.4
85.9
24.7
24.9
FY 04
FY 05
25.1
9.6
15.4
Other
Spain
Germany
CEE
20.5
France
20.5
Benelux
20.2
Italy
18.0
UK
49.6
55.5
FY 04
FY 05
9.0
13.8
13.7
15.6
21.1
21.3
24.2
Slide 14
Channels and Online
Growth continues
Financial Performance ($mil)
14%
22%
144.5
FY 05
FY 04
FY 03
127.3
Overview

Revenue up 14% to $144.5 mil.

EBITDA up 21% vs. pro-forma,
37% up vs. reported numbers

EBITDA margin up 2% on proforma despite increased
marketing costs on channel
renaming
104.2
21%
16%
57.6
47.7*
41.2
Revenues
EBITDA
Note : *Pro-forma results stated after exclusion of non-recurring charges
Slide 15
Channel & Online Revenue
Breakdown by type
Subscription ($mil)
13%
17%
Advertising ($mil)
94.0
14%
Other ($mil)
47.1
3.9
41.4
82.9
(23)%
13%
3.4
41%
70.9
3.0
29.4
FY 03
FY 04
FY 05
Total channel and online revenues : $144.5 mil
Slide 16
Set for return to growth
31.4
FY 05
FY 04
FY 03
(21)%
1%
Overview

Revenue up 1% after 3 years of
decline

EBITDA up 9% vs. pro-forma*,

EBITDA margin up 5% on proforma* as costs lower due to
reduction in episodes delivered
24.7 24.9
20.4
(23)%
9%
17.1
15.7*
Revenues
EBITDA
Slide 17
Consumer Products
Strong growth
18.4
FY 05
FY 04
FY 03
38%
18%
Overview

Revenue up 38% with strong
growth from Power Rangers and
home entertainment

EBITDA up 15% vs. pro-forma*,

EBITDA margin decline due to
one-off third party costs and an
increase in agency fees
13.3
11.3
15%
38%
6.3
5.5*
4.0
Revenues
EBITDA
Slide 18
Foreign Exchange
Impact on results
FY05
Actual
Change
due to FX
FY05 @
FY04 rates*
Change
FY04
Actual
144.5
4.6
139.9
12.6
127.3
– Programme distribution
24.9
0.2
24.7
-
24.7
– Consumer products
18.4
0.4
18.0
4.7
13.3
187.8
5.2
182.6
17.3
165.3
(122.3)
(4.3)
(118.0)
(3.6)
(114.4)
65.5
0.9
64.6
13.7
50.9
(43.2)
(0.1)
(43.1)
2.7
(45.8)
22.3
0.8
21.5
16.4
5.1
(US$ mil)
Group revenues
– Channels and online
Costs and expenses
EBITDA
Depreciation and amortisation
Operating income
Translation FX gain
0.6
Income before tax
1.4
* Average of actual rates for year ended September 30, 2004
Slide 19
Cash Flow
Maintained despite higher programme spend
(US$ mil)
FY05
FY04
Net income as reported
19.8
5.8
Non-cash items
45.4
43.1
(37.9)
(34.0)
(0.7)
3.1
Working capital
2.8
12.9
Dividends from affiliates
1.5
-
OPERATING CASHFLOW
30.9
30.9
Capex
(0.7)
(1.2)
7.7
4.3
37.9
34.0
Programming
Other non-current items
Exercise of options
Cash flow pre FX
+12%
no change
Slide 20
Summary
Growth achieved and expected to continue
Strong operating and financial performance
Successfully renamed as Jetix
Content is at the heart of the company
Management focus on growth
Supported by Disney, the world’s leading
provider of family entertainment
© 2005 Jetix Europe. JETIX & JCP name and logo © and ™ Disney Enterprises, Inc.
Slide 21

Presentation - Jetix Europe

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