pdf 17 MB - ProSiebenSat.1

Transcription

May 3, 2016
Q1 2016
IR Presentation
| May 3, 2016 |
| Page 1
Agenda
1
At a Glance
2
Financial Performance Review
3
Operational Performance
4
3.1
Broadcasting German-speaking & Red Arrow
3.2
Digital & Adjacent
Summary & Outlook
| May 3, 2016 |
| Page 2
May 3, 2016
Q1 2016
At a Glance
Thomas Ebeling
Chief Executive Officer
| May 3, 2016 |
| Page 3
1 2 3 4
Q1 2016 – At a Glance
Key financials in Q1 2016
[Q1 2016 vs. Q1 2015; in EUR m]
Revenues
802
+22%
✔
Recurring EBITDA
170
+12%
✔
76
+8%
✔
Underlying net income
| May 3, 2016 |
Continuing operations
| Page 4
1 2 3 4
Continued dynamic growth across all three business segments
Revenue growth
vs. Q1 2015
Broadcasting
German-speaking
Digital & Adjacent
TV advertising
Distribution
Digital
Entertainment
Ventures &
Commerce
Adjacent
+4%
+14%
+66%
+110%
-44%
Content Production
& Global Sales
+5%
+75%
+38%
+EUR 23m
+EUR 103m
+EUR 17m
| May 3, 2016 |
Continuing operations, external revenues.
| Page 5
1 2 3 4
Our milestones from 2009 until our DAX entry
CMD target: Group
revenue growth 2018
by EUR 1bn
First CMD target: EUR
>750m growth potential
until 2015
German free TV channels
pooled in one location
Share
class merger
Sales subsidiaries
for online + TV
services merged
2009
Fully acquired
Launch
2010
Founding
Almost 100%
free float after
KKR and
Permira exit
Disposal of TV and
radio activities in the
Nordics
2011
2012
2013
2014
2015 revenue
target already
achieved YE
2014
CMD target
increased:
Group revenue
growth 2018 by
EUR 1.85bn
Acquisition
Entry
into the
Share
price at
EUR
50.70
2015
2016
Founding
Disposal of
Benelux TV
activities
Acquisition
Founding
Founding
| May 3, 2016 |
Launch
Launch
Acquisition of CDS and
merger with Studio71
| Page 6
1 2 3 4
2018 Group revenue growth target
Rec. EBITDA growth target
2012-18 revenue growth target
[in EUR m, degree of achievement]
[in EUR m, degree of achievement]
57%
57%
66%
2,175
51%
67%
4,206
3,408
2,356
2,301
1,926
1,535
745
943
1,095
950
335
280
370
95
Group rec. EBITDA
2018 revenue growth target
Rec. EBITDA margin profile 2018E
| May 3, 2016 |
Broadcasting Germanspeaking
+EUR 375m
>30%
Digital & Adjacent
+EUR 1,200m
15-20%
Degree of achievement
Content Production &
Global Sales
ProSiebenSat.1 Group
+EUR 275m
≥10%
2012
Q1 2016 (LTM)
+EUR 1,850m
~26.0%
2018 target | Page 7
1 2 3 4
We confirm our positive full-year guidance
Group revenue growth to exceed +10%
✔
Ad performance in line with positive net TV ad market
✔
Digital & Adjacent with double-digit revenue growth
✔
Recurring EBITDA and underlying net income above prior year
✔
| May 3, 2016 |
| Page 8
1 2 3 4
Enlarged Executive Board to further strengthen digital business
Thomas Ebeling
CHIEF EXECUTIVE OFFICER
Since
May 1, 2016
Dr. Gunnar Wiedenfels
CHIEF FINANCIAL OFFICER
Conrad Albert
Dr. Christian Wegner
EXTERNAL AFFAIRS,
INDUSTRY RELATIONS &
GENERAL COUNSEL
DIGITAL VENTURES &
COMMERCE
| May 3, 2016 |
Dr. Ralf Schremper
Jan Frouman
Christof Wahl
STRATEGY & INVESTMENT
CONTENT & BROADCASTING
DIGITAL ENTERTAINMENT &
COO
| Page 9
May 3, 2016
Q1 2016
Financial Performance Review
Dr. Gunnar Wiedenfels
Chief Financial Officer
| May 3, 2016 |
| Page 10
1 2 3 4
Q1 2016 – Financial Performance Review
Q1 2016: dynamic revenue and recurring EBITDA increase
Consolidated revenues
[in EUR m]
Recurring EBITDA
[in EUR m]
+22%
+12%
1,000
200
802
655
153
170
150
500
100
50
0
0
Q1 2015
Q1 2016
Q1 2015
Q1 2016
Recurring EBITDA margin:
21% (-2%pts)
| May 3, 2016 |
| Page 11
1 2 3 4
Q1 2016: Group revenue growth driven by all segments
Key Group revenue growth drivers vs. PY
[Q1 2016 external revenues; growth rates in %]
Broadcasting German-speaking
Digital & Adjacent
Content Production & Global Sales
EUR 493m, +5%
EUR 242m, +75%
EUR 63m, +38%
Digital Entertainment
EUR 86m, +66%
TV advertising
EUR 454m, +4%
Ventures & Commerce
EUR 146m, +110%
Distribution
EUR 29m, +14%
| May 3, 2016 |
Red Arrow
EUR 63m, +38%
Adjacent
EUR 9m, -44%
| Page 12
1 2 3 4
Q1 2016: high single-digit underlying net income growth
Financial result
[in EUR m]
[in EUR m]
-17%
+8%
25
100
80
0
70
76
60
40
-25
-28
-24
-50
20
0
Q1 2015
| May 3, 2016 |
Q1 2016
Q1 2015
Q1 2016
| Page 13
1 2 3 4
Broadcasting German-speaking: continued solid revenue and
recurring EBITDA improvement
External revenues and recurring EBITDA
[in EUR m]
Q1 2016
Q1 2015
y-o-y
493
471
+5%
454
437
+4%
Distribution
29
26
+14%
Rec. EBITDA
131
126
+4%
Ext. revenues
TV advertising
| May 3, 2016 |
Continuing operations; recurring EBITDA on entity basis.
Comments
TV advertising business benefitted from
continued positive advertising environment
and minor positive effect due to earlier
Easter.
Distribution revenues again driven by
continued strong demand for HD channels
as well as increased mobile revenues.
Rec. EBITDA increase almost in line with
revenue growth.
| Page 14
1 2 3 4
Digital & Adjacent: successful acquisitions drive segment
revenue and recurring EBITDA
[in EUR m]
Ext. revenues
Ventures & Commerce
Adjacent
Rec. EBITDA
Q1 2016
Q1 2015
y-o-y
Comments
242
138
+75%
86
52
+66%
146
70
+110%
9
17
-44%
Dynamic revenue growth in Digital
Entertainment and Ventures & Commerce
primarily driven by consolidation effects as
well as strong growth of maxdome.
Adjacent affected by missing live events
with former ProSieben host Stefan Raab
and slow-down in Live Entertainment.
35
| May 3, 2016 |
27
+29%
Rec. EBITDA increase below revenue
growth partly due to strong growth of
lower-margin businesses.
| Page 15
1 2 3 4
Content Production & Global Sales: continued double-digit
revenue growth and notably improved profitability
[in EUR m]
Q1 2016
Ext. revenues
Total revenues
Rec. EBITDA
| May 3, 2016 |
Q1 2015
y-o-y
63
46
+38%
76
56
+37%
5
1
>100%
Comments
Continued solid revenue growth mainly
driven by US production business as well
as Red Seven Entertainment. Positive
consolidation effects from the acquisition
of Karga Seven and Dorsey Pictures.
Solid rec. EBITDA margin well above prior
year.
| Page 16
1 2 3 4
Q1 2016: Group P&L – improvement of all key metrics
Δ
[in EUR m]
Q1 2016
Q1 2015
Revenues
802
655
+22%
Recurring EBITDA
170
153
+12%
-9
-7
+25%
-3
-1
+127%
162
146
+11%
-39
-29
+37%
Thereof PPA
-10
-4
>+100%
Operating result (EBIT)
122
117
+5%
-24
-28
-17%
-26
-21
+20%
99
89
+11%
66
61
+9%
76
70
+8%
Non-recurring items
Thereof M&A-related
EBITDA
Depreciation and amortization
Financial result
Thereof interest result
Earnings before tax (EBT)
Net income
1)
| May 3, 2016 |
Continuing operations; 1) Result for the period attributable to shareholders of ProSiebenSat.1 Media SE.
| Page 17
1 2 3 4
Financial leverage at the end of Q1 2016 well inside target range
of 1.5-2.5x net debt to recurring EBITDA
Net debt
[in EUR m]
Net financial debt
2,500
26
1.7x
523
609
2,000
2.1x
342
1,500
1,000
M&A spend to a large
extent covered by strong
FCF generation from
operating activites of
>EUR 500m (LTM)
1,953
1,500
500
0
31/03/2015
| May 3, 2016 |
2014
dividend
payment
M&A spend
Other 1)
FCF before 31/03/2016
M&A
Financial leverage
Financial leverage: Net debt/LTM rec. EBITDA (LTM rec. EBITDA of EUR 943m (previous year: EUR 860m) for continuing
operations); 1) Mainly repayment of finance lease liabilities, dividend payments to non-controlling interests, payments for
businesses without change in control and financing costs.
| Page 18
1 2 3 4
Financial outlook for 2016
Group revenue growth (in %)
>+10%
Recurring EBITDA
above prior year
above prior year
Financial leverage
| May 3, 2016 |
1.5x – 2.5x
| Page 19
May 3, 2016
& Red Arrow
Thomas Ebeling
| May 3, 2016 |
| Page 20
1 2 3 4
Germany with slower start while Austria performs strongly
Audience share
[in %]
Germany
(A 14-49)
Austria
(A 12-49)
Switzerland
(A 15-49)
| May 3, 2016 |
Q1 2016
Q1 2015
28.1%
28.9%
23.5%
21.5%
18.2%
18.3%
Basis for GER: All German TV households (GER+EU/German-speaking), A 14-49; Mon-Sun, 3-3 h; Source: AGF in
cooperation with GfK / TV Scope / ProSiebenSat.1 TV Deutschland; Basis for A: A 12-49; Mon-Sun, 3-3 h, incl. P7 MAXX
Austria and S1 Gold Austria (from Jul 15, 2014 onwards); Basis for CH: D-CH; A 15-49; Mon-Sun, 3-3 h, incl. PULS 8 (from
Oct 08, 2015 onwards); Source: Mediapulse TV-Panel. Source: AGTT / GfK: Fernsehforschung / Evogenius Reporting.
| Page 21
1 2 3 4
We see an upward trend from February onwards …
Audience share development Germany (A 14-49)
[in %]
+0.4
+1.1
28.8
28.4
27.3
January 2016
February 2016
| May 3, 2016 |
March 2016
Basis: All German TV households (German-speaking), A 14-49,
Mon-Sun, 3-3 h; Source: AGF in cooperation with GfK / TV Scope /
ProSiebenSat.1 TV Deutschland.
| Page 22
1 2 3 4
… and maintain our leading position in the German market
Audience share (A 14-49)1)
[Q1 2016; in %]
28.1
Share of advertising2)
[Q1 2016; in %]
∆
+2.6
%pts
25.5
42.4
∆
+8.9
%pts
33.5
| May 3, 2016 |
1) Basis: All German TV households (German-speaking), A 14-49, Mon-Sun, 3-3 h; RTL Mediengruppe w/o RTL II
minority; Source: AGF in cooperation with GfK / TV Scope / ProSiebenSat.1 TV Deutschland.
2) Gross values; Source: Nielsen Media Research / SevenOne Media, Sales Steering & Market Insights.
| Page 23
1 2 3 4
Our targeted channels represent 13% of the entire niche market
Share of non-top 10 channels in German TV market
[FY; A 14-49; in %]
∑29% (=100%)
13%1)
∑ 18% (=100%)
1)
1%
2010
| May 3, 2016 |
2015
1) Sum of P7S1 niche channel audience share as % of sum of audience share of non-top 10 channels;
Basis: All German TV households (GER+EU), A 14-49; Mon-Sun, 3-3 h; Source: AGF in cooperation with GfK / TV Scope /
| Page 24
1 2 3 4
We will launch a new channel to complement our broad portfolio
Our channel portfolio (Germany)
Key target groups
A 14-59
male
Launch
Q3 2016
Documentary
channel
Documentary
channel
M 40-65
A 14-59
RTLNITRO
A 14-39
old
young
A 14-49
F 14-39
F 40-64
female
M 14-39
Further channel concepts under evaluation
| May 3, 2016 |
Source: ProSiebenSat.1 TV Deutschland
| Page 25
1 2 3 4
Successful commissioned, license and event formats in Q1
Examples
(Local) commissioned
GNTM
(US) license
The Big Bang Theory
TVOG Kids
Events
The X-Files
NFL/Superbowl
Up to
Up to
Up to
Up to
Up to
19.7%
14.3%
20.5%
19.7%
43.8%1)
Kiss Bang Love
Die Hebamme 2
Supergirl
Up to
14.1%
| May 3, 2016 |
13.5%
ZOO
Oscars
Up to
Up to
Up to
18.0%
16.6%
28.6%
Basis: All German TV households (German-speaking), A 14-49; Source: AGF in cooperation with GfK / TV Scope /
ProSiebenSat.1 TV Deutschland; 1) Up to 50.7% for Q4.
| Page 26
1 2 3 4
True blockbuster character of GNTM in its 11th season
Case Study
Video views2)
Audience share linear TV1)
First 9 episodes
[A 14-49; in %]
First 9 episodes
[Video views; in m]
∆
+2.2
%pts
∆
+43%
17.1
25.1
17.6
14.9
2015
2016
2015
2016
Owned & operated online reach incl. online live
stream, full episode catch-up and short clips
| May 3, 2016 |
1) Average of first 9 episodes of each season; Basis: All German TV households (GER+EU/German-speaking), A 14-49;
2) Channel websites + 7TV app/SmartTV (live-streaming w/o 7TV app) + HbbTV + MyVideo + Syndication
from season start until 9th episode 2015 and 2016, excl. YouTube; Source: AGF in cooperation with GfK / TV Scope /
| Page 27
1 2 3 4
Many of our proven commissioned titles will return…
Examples
(Local) commissioned pipeline
The Voice of Germany
The Taste
Promi Big Brother
Superkids
Einstein (series)
Gödde on Tour
Bitte melde dich
3,2,1 Musik
| May 3, 2016 |
| Page 28
1 2 3 4
…and we will continue to air top US blockbuster movies & series
Examples
(US) license series pipeline
(US) license blockbuster pipeline
Transformers IV
The HG: Mockingjay I
Blindspot
Limitless
Godzilla
12 Years a Slave
Legends of Tomorrow
CM: Beyond Borders
| May 3, 2016 |
| Page 29
1 2 3 4
RA already contributes >20% of our new local commissions
Examples of successful local in-house formats in German Free TV
>20%
of commissioned
new launches
come from
Red Arrow1)
| May 3, 2016 |
Audience share
[A 14-49; in %]
Kiss Bang Love
Married At First Sight
The Taste
Up to
14.1%2)
Up to
12.2%3)
Up to
10.7%3)
Source: AGF in cooperation with GfK / TV Scope / ProSiebenSat.1 TV Deutschland;
1) Red Arrow Entertainment Group share of absolute number of new commissioned formats in 2015; 2) 2016; 3) 2015.
| Page 30
1 2 3 4
Red Arrow‘s on-air shows engage audiences worldwide
| May 3, 2016 |
Amazon Prime
Season 2
A&E / FYI
Season 3
Season 3 already
commissioned
#7 in Top 150
US cable shows
Sky 1
Season 10
ProSieben
Premiere
Biggest series
launch since 2010
27.0% share
among A 14-29
| Page 31
1 2 3 4
Red Arrow with best Q1 financial performance since launch
External revenues
[in EUR m]
Recurring EBITDA
[in EUR m]
+38%
>+100%
63
5
46
1
Q1 2015
Q1 2016
| May 3, 2016 |
Q1 2015
Q1 2016
| Page 32
1 2 3 4
Broadcasting German-speaking & Red Arrow: outlook 2016
1
Focus on core channels ProSieben and Sat.1
2
Launch new docu/factual channel to broaden portfolio
3
Leverage TVD - Red Arrow relationship for content creation
| May 3, 2016 |
| Page 33
May 3, 2016
Ad Market Performance
Thomas Ebeling
| May 3, 2016 |
| Page 34
1 2 3 4
Broadcasting German-speaking / Ad Market Performance
Positive development in Q1 2016
P7S1 German-speaking TV net advertising revenue growth of +4%
✔
Continued increase of TV share in media mix1)
✔
Continued positive pricing development
✔
Growing number of addressable TV campaigns
✔
| May 3, 2016 |
1) Source: Nielsen Media Research; Note: gross figures excl. YouTube and Facebook.
| Page 35
1 2 3 4
Advertising share in German-speaking markets
ProSiebenSat.1 gross TV ad market share
[in %]
Q1 2016
Q1 2015
Germany
42.4%
43.6%
Austria
36.3%
35.7%
Switzerland
28.0%
29.0%
| May 3, 2016 |
Basis: Q1 2016; Source: Nielsen Media Research / Media Focus.
| Page 36
1 2 3 4
TV continues to benefit at the expense of other media
Gross ad spendings, Germany
[Q1 2016 vs. Q1 2015; in % and %pts]
Share of segment
Change in media mix
100.0%
Total
TV
47.7%
Online
10.4%
Radio
6.1%
Newspapers
16.6%
Magazines
12.8%
Outdoor, Cinema
| May 3, 2016 |
6.4%
+1.5%pts
-0.9%pts
+0.1%pts
-0.4%pts
-0.9%pts
+0.6%pts
Basis: Q1 2016; Source: Nielsen Media Research. Online excl. search, affiliate
and others not reporting their bookings to Nielsen (e.g. YouTube, Facebook).
| Page 37
1 2 3 4
8 out of 10 biggest industries increased TV budgets
Gross TV ad spendings of top 10 TV industries, Germany
[Q1 2016 vs. Q1 2015; in EUR m; % and %pts]
in EUR m
313
Total
in EUR m
Share
Δ
3,333
100.0%
+10.4%
+1.5%pts
Δ TV in media mix
Trade & Shipment
17
456
13.7%
+3.8%
+1.9%pts
Food
18
434
13.0%
+4.4%
-0.5%pts
423
12.7%
+33.8%
+4.0%pts
107
Business Services
63
Cosmetics & Toiletries
31
Pharmacy
Telecommunication
-9
10
Motor Vehicles
33
Beverages
Finance
Detergents
| May 3, 2016 |
-13
9
375
11.3%
+20.1%
+1.9%pts
241
7.2%
+14.9%
+1.9%pts
201
6.0%
-4.5%
+0.1%pts
180
5.4%
+6.0%
+1.3%pts
139
4.2%
+31.6%
+2,4%pts
125
3.8%
-9.5%
+0.6%pts
85
2.6%
+11.3%
+1.0%pts
Basis: Q1 2016; Source: Nielsen Media Research (excl. Media & Publishing and Other Advertising).
| Page 38
1 2 3 4
Online businesses further shift ad spendings to TV
TV share in media mix of eCommerce and online services
[in %]
+13pts%
73
74
2015
Q1 2016
61
2011
Online businesses value the power of TV
| May 3, 2016 |
| Page 39
1 2 3 4
CPT increase of all ProSiebenSat.1 core channels in Q1
Gross CPT growth
[Q1 2016 vs. Q1 2015; in %]
4.5
3.7
2.9
1.2
-1.2
| May 3, 2016 |
CPT = Cost Per Thousand; Basis: all TV households in Germany (GER+EU/German-speaking); A 14-49, Mon-Sun, 3-3 h;
Source: AGF in cooperation with GfK / TV Scope / SevenOne Media / Pricing & Media Strategy.
| Page 40
1 2 3 4
Innovation leader in HbbTV-enabled addressable TV ad
business
20
campaigns
SwitchIn
XXL
12 clients
in Q1
Walt Disney
Opel
Lexus
Canon
Electronic Arts
Tirol
E WIE EINFACH
Ferrero
Eurowings
SwitchIn
Spot
overlay
| October
| May 3,29,
2016
2015
| |
| Page 41
1 2 3 4
Relaunch of non-linear HbbTV platform in H2 2016
Possible HbbTV product features
| October
| May 3,29,
2016
2015
| |
Catch Up
Commerce
Trailer
Gaming
EPG
Studio71 Content
Live Votings
Timeshift
| Page 42
1 2 3 4
Launch of channel apps to strengthen TV brands
• Strengthening the
ProSiebenSat.1 TV
brands and
complementing 7TV
• Serving the
increasing demand of
our audiences for
their favorite channels
• Providing brand
related content any
time and place
| May 3, 2016 |
| Page 43
1 2 3 4
TV benefits from increasing awareness of digital ad weak points
Ad Fraud
10-20% of digital reach fraudulent by robot traffic
Viewability
63% of digital advertising not viewable
Autoplay
51% of digital videos not started by consumer
Quality
15% of digital advertising in environments with risks to brands
Ad Clutter
Digital advertising not effective due to ad clutter
Ad Blocker
25% ad block usage in Germany
| May 3, 2016 | Sources: Integral Ad Science, “Bericht zur Mediaqualität 2015“; Adobe AdBlocking Report August 2015.
| Page 44
1 2 3 4
Our digital quality management suite
ProSiebenSat.1 digital quality management suite
SevenOneMedia
Anti Ad Blocker
Integral Ad Science
Ad Intensity
Steering
Proprietary anti-ad
blocker solution
Portfolio screening
of all managed
inventory to prevent
robot traffic
Focus on exclusive
BigAds forms to
avoid ad clutter and
reduction of ad
intensity
| May 3, 2016 |
| Page 45
1 2 3 4
Sports effects with limited impact on annual TV ad spend …
German net TV ad market growth
Net TV ad market growth rate
+4.0%
+2-3%
+2-3%
2015E
2016E
+ 2.2 %
+ 1.4 %
+ 0.7%
2011
2012
| May 3, 2016 |
2013
2014
Source: ZAW (2010-2014); ProSiebenSat.1 estimate, 2015E, 2016E.
| Page 46
1 2 3 4
… however deviating seasonality within sports year
2016E German net TV ad market growth
Market comments
Estimated net TV ad market growth rate
[in %]
• Q1 2016 stronger due to
earlier Easter
• Sports events to trigger
pull-forward effects to April
and May
Ø
Q1
Q2
| May 3, 2016 |
Q3
Source: ProSiebenSat.1 estimate, 2016E.
Q4
• June likely to be weaker,
H1 performance therefore
strongly depends on June
• H2 not significantly
affected by sports events
| Page 47
1 2 3 4
Solid single-digit net TV ad market growth forecast
German net TV ad market estimates 2016
+4.3%
+2.5%
+4.3%
+2-3%
ProSiebenSat.1
internal market estimate
| May 3, 2016 |
Source: Warc International Ad Forecast 2015/2016 (Dec. 2015); ZenithOptimedia Advertising Expenditure Forecasts
(Mar. 2016); Magna Global (Broadcast TV, Dec. 2015); SevenOne Media own estimate.
| Page 48
1 2 3 4
Sales outlook 2016
1
German net TV ad market growth of +2-3%
2
P7S1 to grow in line with positive net TV ad market
3
Continued increase of TV share in media mix
4
Further increase of CPTs
| May 3, 2016 |
| Page 49
May 3, 2016
Distribution
Thomas Ebeling
| February 25, 2016 |
| Page 50
1 2 3 4
Broadcasting German-speaking / Distribution
Strong revenue growth continued
External revenues
[in EUR m]
+14%
29
26
Q1 2015
| October
| May 3,29,
2016
2015
| |
Q1 2016
| Page 51
1 2 3 4
Dynamic increase of HD subscriptions in Q1 2016
HD subscriber development
[in m]
+17%
9.2
+0.9m
vs.
Q1 2015
6.5
5.6
4.6
3.3
1.2
Q1
2012
| May 3, 2016 |
Q1
2013
Q1
2014
Q1
2015
Q1
2016
CMD
target
2018
Note: HD Free-to-air subscribers shown; paying subscriber figures as reported by platform partners
(EoP; subject to subsequent adjustments by platform partners).
| Page 52
1 2 3 4
Continued strong Distribution presence
Reach
Cable






Satellite






IPTV






Terrestrial






1.9m HH3)
(5% to total HH)
Mobile1)






>4m
unique users4)
Phones/
tablets







>70m
devices5)
Connected
Smart TVs







>10m
devices6)
Streaming
devices







>2m
devices6)
 FTA via platforms 
FTA via P7S1 app (live and/or catch-up) and mobile aggregator

2)
16.5m HH3)
(42% of total HH)
17.9m HH3)
(46% of total HH)


2.6m HH3)
(7% of total HH)
• Profitable longterm deals
• Addressing all
linear and nonlinear TV for
content
consumption
• Strong presence
for reach and
ad-revenue
monetization
Maxdome placement
1) Complementary to cable, satellite, terrestrial and IPTV distribution; 2) Deep tariff integration on Unitymedia and TeleColumbus;
3) Astra Monitor report 2015 published 03/2016 (adjusted data base on new official population statistics), Telekom publications | Page 53
| February
| May 3,25,
2016
2016
| |
and P7S1 assumptions; 4) Unique users per month, company publications, AGOF figures and P7S1 assumptions;
5) SNL Kagan and P7S1 assumptions; 6) Digitalisierungsbericht, SNL Kagan and P7S1 assumptions.
May 3, 2016
Digital & Adjacent
Thomas Ebeling
| October 29, 2015 |
| Page 54
1 2 3 4
Digital & Adjacent
Our market leading D&A portfolio
Q1 revenue split
Market position
A
36%
C
Ventures & Commerce
AdVoD
Travel
Top
#1
#2
3
#13)
#12)
#1
PayVoD
Top
34)
35)
Top
#1
#1
#11)
5
Top
#1
Games
Top
5
Beauty & Accessories
#2
Online Comparison
#1
Top
5
#1
#2
B
60%
4%
Adjacent
Music, Artist Mgmt., Licensing
Sports
#1
Top
5
Ventures
#1
(M4R/E)
#5
New
| |June
May 29,
3, 2016
2016| |
Leading German VC investor
1) Nordics; 2) Studio71 #1 MCN DE, top 5 globally; 3) Yieldlab #1 Premium SSP in DACH;
4) SVoD market DE, according to forsa; 5) Mobile and PC games publishers Europe, excluding
direct publishing by developers.
| Page 55
1 2 3 4
Digital & Adjacent
2016 starts with significant y-o-y revenue growth …
External revenues
[in EUR m]
Entity rec. EBITDA
[in EUR m]
+75%
+29%
242
35
27
138
Q1 2015
Q1 2016
| October
| May 3,29,
2016
2015
| |
Q1 2015
Q1 2016
| Page 56
1 2 3 4
Digital & Adjacent
… driven by strong performance of Commerce and Entertainment
Revenues
[Q1 2016]
Revenue growth
[Q1 2016 vs. Q1 2015]
Revenue growth (%)
[Q1 2016 vs. Q1 2015]
| October
| May 3,29,
2016
2015
| |
Digital
Entertainment
Ventures &
Commerce
Adjacent
EUR
EUR
EUR
86m
146m
9m
EUR
EUR
EUR
34m
76m
-7m
+66%
+110%
-44%
| Page 57
1 2 3 4
Digital & Adjacent
A We maintain #1 position in the German premium video ad market
Online video advertising market Germany1)
[in EUR m]
Channel websites
#1
+40%
124
in premium
video ad
market1)
+37%
video unique
users2)
88
Multi-channel network
+88%
video views in
Germany3)
Q1 2015
Q1 2016
1) Source: Nielsen Media Research, gross in-stream video ad market revenues Germany (without Google/YouTube,
| October
| May 3,29,
2016
2015
| | Amazon, Facebook and long-tail ad networks 2) Source: AGOF Internet Facts; Jan 2016 LTM vs. Jan 2015 LTM, 10+
3) Source: Internal data Q1 2016 vs. PY (Studio71 GER only, excl. Studio71 US).
| Page 58
1 2 3 4
Digital & Adjacent
A Studio71 is a leading MCN in Germany and globally …
#1 MCN in Germany
ComScore MCN Ranking, March 20161)
#1
Studio71
Global
#5 MCN2)
Warner Music
Broadband
TV
VEVO
TubeOne
Networks
1) Source: ComScore YouTube Partners Report Mar 2016 (content views, desktop only, incl. music MCNs, Maker and
| October
| May 3,29,
2016
2015
| | Fullscreen not listed), Studio71 GER and Studio71 US combined; 2) Source: monthly video views retrieved from company
websites, based on SocialBlade “Top 100 YouTube Networks” report (incl. music MCNs).
| Page 59
1 2 3 4
Digital & Adjacent
A … strongly growing with high reach throughout all channels
Strong growth of VV continued …
Studio71 global video views1)
[in bn]
4.3
0.7
1.3
0m
>1,200
Channels
1m
2m
3m
Over 3.2m VV/channel
>25,200
2.5
1.0
>400m
subscribers3)
3.5
1.6 1.7
… with highest reach per channel2)
Channels
2.0
>15,900
Channels
>51,400
Channels
Mar Jun Sep Dec Mar Jun Sep Dec Mar
>136,400
2014
2015
2016
Channels
1) Basis: before CDS acquisition pro forma incl. CDS; Source: YouTube CMS, own calculations; 2) Source:
| October
| May 3,29,
2016
2015
| | monthly video views per company websites; number of channels per SocialBlade as of Mar 2016. Studio71 data
per management. Analysis excl. music MCNs; 3) Source: Internal data (Mar 2016).
| Page 60
1 2 3 4
Digital & Adjacent
A We continue to strengthen and expand our ad tech business
Demand Side
Platform
Supply Side
Platform
Video ad exchange
All “big four” agency groups are customers
of Smartstream.TV and/or Virtual Minds
| October
| May 3,29,
2016
2015
| |
Ad server
Sales houses / publishers
Advertisers / agencies
Ongoing European roll-out and new investments
Majority of top AGOF publishers
use Virtual Minds technologies
| Page 61
1 2 3 4
Digital & Adjacent
A maxdome continues to grow with new distribution platforms …
1.4m
potential
households
+83%
+55%
+32%
SVoD
subscribers1)
Total
video views2)
Total
user base3)
Top 3 market position
| October
| May 3,29,
2016
2015
| |
2.5m
potential
households4)
New distribution platforms
1) End of period Q1 2016 vs. end of period Q1 2015; 2) Q1 2016 vs. Q1 2015; 3) Average of period Q1 2016 vs. average of
period Q1 2015; 4) Integration in new Entertain service (Telekom).
| Page 62
1 2 3 4
Digital & Adjacent
A … now improving user experience with curated recommendations
New
Web
New & unique
customer proposition
Content discovery through
curated recommendations
OTT
Mobile
maxdome as
trusted film expert
| October
| May 3,29,
2016
2015
| |
| Page 63
1 2 3 4
Digital & Adjacent
B Strong success of Starwatch Entertainment music artists
11 Echo
awards
7 top 10
chart
entries
(out of 39
nominations)
New
By label and music cooperation artists
| October
| May 3,29,
2016
2015
| |
By label releases
| Page 64
1 2 3 4
Digital & Adjacent
B We have launched 7Sports to build a leading sports ecosystem
Great achievements on our sports
platforms …
… enabled us to build a dedicated sports
cluster
NEW
Reached new record levels:
70m Page Impressions p.m.
Digital
sports
Athlete
mgmt.
Sports
events
Sports
products
TV market share of 50% at
NFL Super Bowl 50
Significantly increased
monthly traffic: 3m video
views p.m.
Signed two further German
national soccer team players
Strong synergy creation
360° monetization of sports rights
Digitization of sports consumption
Note: Traffic statistics for ran.de and sportdeutschland.tv refer to Jan 2016; SAM Sports and ran FIGHTING are fully owned
| October
| May 3,29,
2016
2015
| | assets; Sportdeutschland.tv is a majority investment; eversport is a minority investment; National Football League (NFL)
and all logos listed under sports products refer to acquired rights.
| Page 65
1 2 3 4
Digital & Adjacent
C Outstanding etraveli performance is driving our Travel vertical
+84%
y-o-y revenue
growth
+85%
growth of
international
business1)
| October
| May 3,29,
2016
2015
| | 1) Business outside Nordics.
| Page 66
1 2 3 4
Digital & Adjacent
C Online Comparison pushed by Verivox’ record performance in Q1
Record performance of Verivox
in Q1
+38% revenue growth1)
Market share gains
across all new product categories
80%
P7S1
stake
| October
| May 3,29,
2016
2015
| | 1) Q1 2016 vs. Q1 2015 pro-forma revenues.
| Page 67
1 2 3 4
Digital & Adjacent
C We continue the expansion of our Beauty & Accessories vertical
Beauty & Accessories majority assets
Net sales y-o-y
+67%
Launch of new own brands to
strengthen leading position in the
sexual wellness market
+81%
Launch of new Austrian shop laid
technical foundation for international
store rollout in 2016
+138%
Strong private label >50% of jewelry revenues1)
75%
P7S1
stake
100%
P7S1
stake
51%
P7S1
stake
| October
| May 3,29,
2016
2015
| | 1) Jewelry revenues represent 61% of total revenues.
| Page 68
1 2 3 4
Digital & Adjacent
C SevenVentures continues to stimulate the TV ad market
New deals closed in Q11)
Logo
Peer-to-peer money lending marketplace
Logo
Innovative car sale marketplace
Logo
Producer of organic detox juices
Logo
Innovative diet drink concept
| October
May 3,29,
2016
2015
| 1)| Selection
| Page 69
1 2 3 4
Digital & Adjacent
Digital & Adjacent: outlook
1
Deliver double-digit revenue growth in FY 2016
2
Continue bolt-on M&A and evaluate partnerships to further drive growth
3
Further internationalize our digital verticals
| October
| May 3,29,
2016
2015
| |
| Page 70
May 3, 2016
Q1 2016
Summary & Outlook
Thomas Ebeling
| May 3, 2016 |
| Page 71
1 2 3 4
Q1 2016 – Outlook
We confirm our positive full-year guidance
Group revenue growth to exceed +10%
✔
Ad performance in line with positive net TV ad market
✔
Digital & Adjacent with double-digit revenue growth
✔
Recurring EBITDA and underlying net income above prior year
✔
| May 3, 2016 |
| Page 72
Disclaimer
This presentation contains "forward-looking statements" regarding ProSiebenSat.1 Media SE ("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.
| May 3, 2016 |
| Page 73
| May 3, 2016 |
| Page 74

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