RTL Group at a glance
A LEADER ACROSS BROADCAST, CONTENT AND DIGITAL
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RTL Group at a glance
MISSION STATEMENT
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RTL Group at a glance
EUROPE'S LEADING FREE-TO-AIR BROADCASTER…
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RTL Group at a glance
…WITH GLOBAL CONTENT BUSINESS…
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RTL Group at a glance
…AND ONE OF THE LEADERS IN DIGITAL VIDEO IN EUROPE
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RTL Group at a glance
SHAREHOLDING STRUCTURE
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RTL Group at a glance
CORPORATE GOVERNANCE (1/2)
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RTL Group at a glance
CORPORATE GOVERNANCE (2/2)
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RTL Group at a glance
STRONG MANAGEMENT TEAM
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RTL Group at a glance
GROUP MANAGEMENT COMMITTEE
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RTL Group at a glance
RTL GROUP'S REPORTING SEGMENTS
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Corporate Responsibility
OUR ROLE IN SOCIETY
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Corporate Responsibility
OUR MATERIAL TOPICS
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Corporate Responsibility
OUR MEASURES IN CORPORATE RESPONSIBILITY
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RTL Group at a glance
OUR AMBITIONS
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Highlights - FY 2019
PROGRESS ACROSS ALL THREE STRATEGIC PRIORITIES
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Highlights - FY 2019
REVENUE AT ALL-TIME HIGH, PROFIT UP 10 PER CENT
organic1
€6,651m +2.2% +3.2%
€1,156m -1.3% Margin: 17.4% -0.6pp
€864m +10.1%
22 Notes: 1. Adjusted for scope changes, the w ind-down of StyleHaul and at constant exchange rates, 2. Adjusted for one-off effects related to RTL Group's Corporate Centre restructuring
Highlights - HY 2020
RTL GROUP'S BUSINESSES DEMONSTRATE RESILIENCE
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Unprecedented revenue decline in Q2
50% of revenue decline offset by cost savings
Operating cash conversion rate of 164%; reduction of net financial debt
Gains in advertising market shares
Outperformance of commercial competitors on audience ratings in GER, FR and NL
Boost of streaming services: paying subscribers in GER and NL up 45% to 1.77m
Le 1945 / M6
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Financials - FY 2019
REVENUE BRIDGE
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Financials - FY 2019
HIGHLY DIVERSIFIED REVENUE MIX
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Financials - FY 2019
STRONG FINANCIAL KPIs
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Financials - FY 2019
HIGH MARGINS, LOWER DEBT
Full year to | Full year to | Per cent | |
In € million | December 2019 | December 2018 | change |
Revenue | 6,651 | 6,505 | +2.2 |
Underlying revenue | 6,518 | 6,317 | +3.2 |
Operating cost base | 5,623 | 5,464 | +2.9 |
Adjusted EBITA | 1,156 | 1,171 | (1.3) |
Adjusted EBITA margin (%) | 17.4 | 18.0 | (0.6)pp |
EBITA | 1,139 | 1,171 | (2.7) |
Net debt | (384) | (470) | - |
Net debt EBITDA ratio at end of year | 0.27 | 0.34 | - |
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Financials - FY 2019
NET PROFIT UP STRONGLY
Full year to | Full year to | Per cent | |
In € million | December 2019 | December 2018 | change |
Reported EBITA | 1,139 | 1,171 | (2.7) |
Gain/(loss) from sale of subsidiaries, other investments and re-measurement to fair value | 87 | 27 | |
of pre-existing interest in acquiree and earn-out arrangements | |||
Impairment of goodwill of subsidiaries, investments accounted for using the equity | |||
method, amortisation and impairment of fair value adjustments on acquisitions of | (65) | (122) | |
subsidiaries | |||
Net financial expense | (5) | (13) | |
Income tax expense | (292) | (278) | |
Profit for the year | 864 | 785 | +10.1 |
Profit for the year attributable to RTL GROUP SHAREHOLDERS | 754 | 668 | +12.9 |
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Financials - FY 2019
HIGH LEVEL OF CASH CONVERSION
Full year to | Full year to | |
In € million | December 2019 | December 2018 |
Net cash flow from operating activities | 1,085 | 873 |
Add: Income tax paid | 334 | 354 |
Less: Acquisition of assets, net | (220) | (178) |
Equals: Reported free cash flow (FCF) | 1,199 | 1,049 |
Acquisition of subsidiaries, net of cash acquired | (235) | (18) |
Acquisition and disposal of other investments and financial assets, proceeds from the | 123 | 117 |
sale of investments accounted for using the equity method | ||
Net interest paid | (23) | (12) |
Transactions with non-controlling interests, treasury shares & deposit with shareholder | (69) | (25) |
Income tax paid | (334) | (354) |
Dividends paid | (538) | (686) |
Cash generated | 123 | 71 |
EBITA | 1,139 | 1,171 |
CASH CONVERSION (FCF/EBITA) | 105% | 90% |
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Financials - FY 2019
SIGNIFICANT VALUE ADDED
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Financials - FY 2019
STATEMENT OF FINANCIAL POSITION (BALANCE SHEET)
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Financials - HY 2020
PROFIT MARGIN AT 10% IN THE FIRST HALF OF 2020
Half year to | Half year to | Per cent | |
In € million | June 2020 | June 2019 | change |
Revenue | 2,652 | 3,173 | (16.4) |
Operating cost base | 2,441 | 2,684 | (9.1) |
Adjusted EBITA | 258 | 538 | (52.0) |
Adjusted EBITA margin (%) | 9.7 | 17.0 | (7.3)pp |
Reported EBITA | 241 | 538 | (55.2) |
Reported EBITDA | 362 | 662 | (45.3) |
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Financials - HY 2020
50% OF REVENUE DECLINE IN Q2/2020 OFFSET BY COST REDUCTIONS
In € million
340 | |
-469 | |
Adjusted EBITA | Revenue |
Q2/2019 | decline |
Compensation rate: 50%
105 | |
+234 | |
Cost | Adjusted EBITA |
compensation | Q2/2020 |
Q2/2020 vs. Q2/2019
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Financials - HY 2020
POSITIVE NET RESULT
Half year to | Half year to | Per cent | |
In € million | June 2020 | June 2019 | change |
Adjusted EBITA | 258 | 538 | (52.0) |
Special items | (17) | - | |
Reported EBITA | 241 | 538 | (55.2) |
Gain/(loss) from sale of subsidiaries, other investments and re-measurement to fair value | 88 | 70 | |
of pre-existing interest in acquire | |||
Impairment of goodwill of subsidiaries, investments accounted for using the equity | |||
method, amortisation and impairment of fair value adjustments on acquisitions of | (69) | (10) | |
subsidiaries | |||
Net financial expense | (19) | - | |
Income tax expense | (85) | (155) | |
Profit for the period | 156 | 443 | (64.8) |
Profit for the period attributable to RTL GROUP SHAREHOLDERS | 94 | 393 | (76.1) |
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Financials - HY 2020
HIGH OPERATING CASH FLOW & CONVERSION DUE TO WORKING CAPITAL MANAGEMENT
Half year to | Half year to | |
In € million | June 2020 | June 2019 |
Net cash from operating activities | 336 | 354 |
Add: Income tax paid | 159 | 255 |
Less: Acquisition of assets, net | (100) | (96) |
Equals: Operating free cash flow (FCF) | 395 | 513 |
Acquisition/disposal of subsidiaries, net of cash acquired/disposed | 27 | 83 |
Acquisition and disposal of other investments and financial assets, proceeds from the | (7) | (5) |
sale of investments accounted for using the equity method | ||
Net interest paid | (19) | (17) |
Transactions with non-controlling interests, treasury shares | (7) | (28) |
Income tax paid | (159) | (255) |
Dividends paid | (4) | (531) |
Cash generated (cash used) | 226 | (240) |
Reported EBITA | 241 | 538 |
OPERATING CASH CONVERSION RATE (FCF/EBITA) | 164% | 95% |
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Financials - HY 2020
REDUCED NET DEBT SINCE END OF 2019
As at 30 | As at 31 | |
In € million | June 2020 | December 2019 |
Gross balance sheet debt | (923) | (788) |
Add: Cash and cash equivalents | 512 | 377 |
Add: Current deposit with shareholders | 226 | 27 |
Add: Other effects | 4 | - |
Net debt | (181) | (384) |
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HOW THE INDUSTRY IS CHANGING WITH FRAGMENTATION
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RTL GROUP'S BUSINESS MODEL
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THE CONTENT PRODUCTION VALUE CHAIN
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RTL GROUP AIMS TO BE PRESENT ALONG THE AD-TECH VALUE CHAIN
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Mediengruppe RTL Deutschland - FY 2019
HIGHER AUDIENCE AND NET TV ADVERTISING MARKET SHARES
Key financials¹ | Family of channels | |
In € million | 14 to 59, FY 2019 | |
Revenue | 28.1%3 | |
EBITA | ||
+0.1% | ||
organic1 |
-1.8% | |||||
2,304 | 2,262 | 10.7% | |||
23.7% | |||||
Others | 6.4% | ||||
MARKETMARKET | 11.0% | ||||
ARD-III | 7.4% | LEALEADER | |||
723 | 663 | 7.8% | |||
ARD | |||||
8.0% | 25.0% | ||||
ZDF | P7S1 | ||||
FY 2018 | FY 2019 |
HIGHLIGHTS
44 Notes: 1. Including RTL Radio Deutschland and Smartclip, 2. Adjusted for scope changes, 3. Incl. RTL Zw ei, Super RTL, incl. pay-TV, 4. End of December 2019 vs. end of December 2018
Mediengruppe RTL Deutschland - HY 2020
OUTPERFORMING COMMERCIAL COMPETITION
Key financials¹ | Family of channels |
HIGHLIGHTS
In € million | 14 to 59, H1/2020 |
Revenue | 28.0%2 |
Adjusted EBITA | |
-16.9% | |
1,088 | |
904 | |
328 | |
174 | |
H1/2019 | H1/2020 |
NTV in March 2020 with best | |||||
Others | 23.1% | 10.7% | audience share ever | ||
6.2% | |||||
MARKET | |||||||
MARKET | 11.1% | RTL Studios to acquire | |||||
ARD-III | 7.8% LEALEADER | 99 Pro Media | |||||
ARD | 8.2% | ||||||
24.0% | |||||||
ZDF | 8.9% | P7S1 | 1st format developed by | ||||
FC Group launched on
TV Now:
Like me - I'm famous
45 Notes: 1. Including Smartclip, 2. Incl. RTL Zw ei, Super RTL, incl. pay-TV
Groupe M6 - FY 2019
HIGHER AUDIENCE AND NET TV ADVERTISING MARKET SHARES
Key financials¹ | Family of channels | |||
In € million | Family of channels | |||
Revenue | Women < 50 responsible | |||
for purchases, FY 2019 | 22.8% | |||
EBITA | ||||
-0.2% | ||||
organic2 |
-1.8% | ||||
1,483 | 1,456 | 14.7% | ||
Others | ||||
32.6% | 8.1% | |||
STRONG #2 | ||||
275 | 287 | France 3 | 3.7% | 32.3% |
France 2 | 8.6% | |||
Groupe TF1 | ||||
FY 2018 | FY 2019 |
HIGHLIGHTS
46 Notes: 1. Gulli consolidated as of September 2019, 2. Adjusted for scope changes
Groupe M6 - HY 2020
GAINS IN AUDIENCE SHARE, SIGNIFICANT COST REDUCTION
Key financials¹
In € million
Revenue
Adjusted EBITA
-22.1% | |
715 | |
557 | |
150 | 85 |
H1/2019 | H1/2020 |
Family of channels
Family of channels
Women < 50 responsible
for purchases, H1/2020 | 22.5% |
14.1%
Others
34.2%8.4%
STRONG #2
France 3 | 3.4% | 31.4% |
France 2 | 8.5% | Groupe TF1 |
HIGHLIGHTS
News shows with
massive audience
growth in March 2020
Exclusive negotiations with Stars to sell Groupe M6's home shopping business
47 Note: 1. Gulli consolidated as of September 2019
RTL Nederland - FY 2019
VIDEOLAND CONTINUES TO GROW RAPIDLY
Key financials | Family of channels | |
In € million | Adults 25 to 54, Prime time, | |
Revenue | FY 2019 | |
29.8% | ||
EBITA | ||
-1.1% | ||||
organic1 | ||||
-1.6% | Others | 16.9% | ||
504 | 18.8% | |||
496 | ||||
MARKETMARKET | 12.9% | |||
LEALEADER | ||||
28.1% | ||||
71 | 54 | Pubcaster | 23.3% | |
Talpa TV | ||||
FY 2018 | FY 2019 |
HIGHLIGHTS
48 Notes: 1. Adjusted for scope changes, 2. End of December 2019 vs. end of December 2018
RTL Nederland - HY 2020
GROWTH OF STREAMING SERVICE VIDEOLAND
Key financials | Family of channels | |
In € million | Adults 25 to 54, prime time, | |
Revenue | H1/2020 | |
30.8% | ||
Adjusted EBITA | ||
-11.9% | Others | |||
17.5% | 18.3% | |||
235 | 207 | |||
MA | ||||
MARKET | 12.5% | |||
L | ||||
LEADER | ||||
30.2% | ||||
18 | Pubcaster | |||
2 | 21.5% | Talpa TV | ||
H1/2019 | H1/2020 | |||
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HIGHLIGHTS
Strong performance of
entertainment formats
(The Voice of Holland,
Legomasters)
New hybrid model launched for Videoland; premium inventory available to Dutch Ad Alliance
Fremantle - FY 2019
GROWTH FUELLED BY DRAMA PERFORMANCE
Key financials | HIGHLIGHTS |
In € million
+ 12.6% | |||||
164 | 1,793 | ||||
1,592 | 37 | + 11.8% | |||
FX | Organic growth | 142 | |||
Revenue | 127 | ||||
+10.3% | EBITA | ||||
Drama | Drama | ||||
FY 2018 | FY 2019 | FY 2018 | FY 2019 |
19% | Drama % of total revenue | 23% |
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Fremantle - HY 2020
CREATIVE SUCCESSES ACROSS ALL GENRES
Key financials | HIGHLIGHTS |
In € million
Revenue Adjusted EBITA
Ted Sarandos, Co-CEO
of Netflix: "biggest
competition show ever"
-14.6% | |
828 | |
707 | |
52 | 23 |
H1/2019 | H1/2020 |
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My Brilliant Friend
BBC's highest-rated drama since August 2018, sold to AMC in the US
Continued push into drama production
NEW STRATEGY FRAMEWORK
HIGHER REACH &
MONETISATION
FY 2019
1 STRATEGIC PRIORITIES - CORE
STRENGTHEN MARKET POSITIONS | INVEST IN PREMIUM CONTENT |
#1 or #2 | €3.5bn |
(€1.5bn Fremantle) | |
in every market1 | content investment p.a. |
54 Note: 1. DE, FR, NL, ESP, BE, HR, HU, LU In terms of audience share in respective target groups
FY 2019
2 STRATEGIC PRIORITIES - GROWTH
BUILD NATIONAL STREAMING CHAMPIONS | TARGETS 2025¹ |
55 Note: 1. Refers to TV Now and Videoland combined
HY 2020
2 STRATEGIC PRIORITIES - GROWTH
BUILD NATIONAL STREAMING CHAMPIONS | TARGETS 2025¹ |
Note: 1. Refers to TV Now and Videoland combined
2 STRATEGIC PRIORITIES - GROWTH
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MagentaTV
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FY 2019
2 STRATEGIC PRIORITIES - GROWTH
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FY 2019
2 STRATEGIC PRIORITIES - GROWTH
EXPAND GLOBAL CONTENT BUSINESS | BUILD LEADING DIGITAL TALENT |
NETWORK AND CONTENT STUDIO | |
23% | 34bn |
59 Notes: 1. Including Divimove and United Screens
HY 2020
2 STRATEGIC PRIORITIES - GROWTH
DELIVERING STRONG DRAMA PIPELINE
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FY 2019
3 STRATEGIC PRIORITIES - ALLIANCES & PARTNERSHIPS
EXPAND ADVERTISING SALES | LEVERAGE CONTENT EXPERTISE |
99% | €2.0bn |
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HY 2020
3 STRATEGIC PRIORITIES - ALLIANCES & PARTNERSHIPS
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SHARE PRICE PERFORMANCE IN 2019
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TOTAL SHAREHOLDER RETURN (TSR)
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ANALYSTS' VIEW
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RTL GROUP'S EQUITY STORY
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OUTLOOK FOR 2020
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FINANCIAL CALENDAR 2021
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DEFINITIONS
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CONTACT
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DISCLAIMER
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Disclaimer
RTL Group SA published this content on 18 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 January 2021 15:39:02 UTC