Presentation - Jetix Europe

Transcription

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

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
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
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 margin up from 52%
to 60%
6.0
5.3
71%
3.1
Revenues
1
Unaudited
EBITDA
Slide 14
1
Consumer Products
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 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