Nine months ended 30 September Premiere. Fernsehen erster Klasse. 1

Transcription

1 Nine months ended 30 September 2005 Premiere. Fernsehen erster Klasse. 1

2 Nine months ended 30 September 2005: EBITDA of 110 million Net subscriber growth of 96,000 in Q3. Subscriber numbers up 13% over prior year to 3.41 million Total revenues up 8% to 779 million Core business strong: Revenues from core business (Programming subscription, PPV, Advertising) up 13% to 733 million Operating costs stable at 669 million EBITDA of 110 million, increase of 46 million over prior year Net income jumps to 52 million from net loss of 56 million, improvement of 108 million Restructuring of Premiere complete: Blue Movie, IT and call centers outsourced Premiere Q3 headcount at 1,216 Premiere. Fernsehen erster Klasse. 2

3 Net subscriber additions of 96,000 in Q Net subscriber additions (in 000) Net subscriber additions (in 000) % Q Q Q Premiere. Fernsehen erster Klasse. 3

4 3.41 million subscribers at end Q3, healthy package mix Subscribers (At 30 September in 000) Package structure (At 30 September in %) 3, % 3,410 17% PREMIERE KOMPLETT 32% 72% Other Premium- Packages 56% PREMIERE 11% START 12% Q Q Q Q Premiere. Fernsehen erster Klasse. 4

5 Churn rate down, Full year outlook: % 12 month rolling churn rate of 11.9% Q3 2005: annualized churn rate of 13.9% 12.9% 16.0% 16.0% 13.6% 13.8% 11.5% 11.9% Q Q Q Q Q Q Q Premiere. Fernsehen erster Klasse. 5

6 ARPU up 8 in Q from prior quarter ARPU from core business (Annualized in ) PPV 7 Advertising PPV Advertising Program Subscription Program Subscription Q Q Q Premiere. Fernsehen erster Klasse. 6

7 Total revenues up 8%, Revenues from core business up 13% Total revenues ( m) Revenues from core business Program subscription, pay-per per- view, advertising ( m) % % 733 Premiere. Fernsehen erster Klasse. 7

8 Operating costs remain stable, SAC per subscriber in line with expectations Total Costs (excl. depreciation) ( m) SAC per Subscriber ( ) % % 217 Premiere. Fernsehen erster Klasse. 8

9 EBITDA up 71%, Net Income up by 108 million EBITDA ( m) Net income ( m) % m 52 (56) Premiere. Fernsehen erster Klasse. 9

10 Outlook Q4: Focus on execution Christmas business: Confident of achieving net subscriber growth in Q4 of between 150, ,000 New pricing: Results encouraging so far optimistic about ongoing implementation in Q4, however bulk of subscribers still to be migrated into new prices HD launch: Launch planned for December 3 rd. Mass roll-out for satellite in Q1, cable in Q2 next year Bundesliga negotiations: Package details and tender process announced on November 1 st potential package structure offers Premiere opportunity for greater exclusivity Free-to-Air channel: All options being considered, Premiere under no external pressure to make decision Betting: Successful start for PREMIERE WIN, the horserace betting channel. Good progress made in building up the PREMIERE WIN triple-play sports betting via TV, Internet and sports bars Premiere. Fernsehen erster Klasse. 10

11 Reiterating near-, mid- and long-term targets Full year 2005: million subscribers as of 31 December 2005 Revenues > 1.1 billion EBITDA million Full year 2006: Guidance in February 2006 Mid Term (End 2007/H1 2008): > 4 million subscribers ARPU > 350. EBITDA margin > 20% Long Term (2011 -> 2014): > 7 million subscribers ARPU > 400. EBITDA margin > 25% Premiere. Fernsehen erster Klasse. 11

12 Disclaimer This presentation contains forward-looking statements based on the currently held beliefs and assumptions of the management of Premiere AG, which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and unknown risks, uncertainties s and other factors, which may cause the actual results, financial condition, performance, or achievements a of Premiere AG, or media industry results, to differ materially from the results, financial al condition, performance or achievements expressed or implied by such forward-looking statements. Given these risks, uncertainties and other factors, f recipients of this document are cautioned not to place undue reliance on these forward-looking statements. Premiere AG disclaims any obligation to update these forward-looking statements to reflect future events or developments. Whilst all reasonable care has been taken to ensure that the information and facts stated herein are accurate and that the opinions and expectations contained herein are fair and reasonable, no representation or warranty, express or implied, is made by Premiere AG with respect to the fairness, completeness, correctness, reasonableness or accuracy of any information and opinions o contained herein. It is pointed out that the existing presentation may be incomplete or condensed, and a it may not contain all material information concerning Premiere AG or the Premiere group. Premiere AG reserves the right to change and complete the information in this presentation without notice. Premiere. Fernsehen erster Klasse. 12

13 Nine months ended 30 September 2005 Questions & Answers Premiere. Fernsehen erster Klasse. 13