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GRUPO PRISA
1H 2001 RESULTS
July 2001
Summary
1H 2001 Results
Businesses
The Environment
Conclusions
1H 2001 RESULTS
Consolidated Figures
(€ mn)
1H 2001
1H 2000
%
588.52
83.09
52.06
8.8%
42.27
526.14
+11.9%
102.20
-17.9%
72.24
-27.9%
13.7%
-
50.38
-16.1%
58.58
-8%
Revenues
EBITDA
EBIT
EBIT Margin
Net Profit
Net Profit Before
Good Will Amortization
54.07
Revenues Breakdown
(€ mn)
1H 2001 1H 2000 %chg.
NEWSPAPERS & MAGAZINES
130.89
124.22
+5.4%
BOOKS & RIGHTS
175.47
128.21
+36.9%
ADVERTISING
242.79
248.86
-2.4%
OTHER REVENUES
115.34
92.48
+25%
Consolidated Adjustments
(75.96)
(68.64)
+10.7%
TOTAL SALES
588.52
526.14
+11.9%
Revenues by source
13%
12%
18%
19%
30%
39%
1H01
Advertising
Books & Rights
24%
45%
1H00
Newspapers & Magazines
Other
Balanced Business Structure
EBIT
1H2001
1H 2000
50%
50%
Adv.Non
Related
Advertising
Related
25%
Adv.Non
Related
75%
Advertising
Related
Revenues by Business Unit
TOTAL
REVENUES
TOTAL
REVENUES
25%
EL PAIS
30%
31%
PUBLISHING
25%
RADIO
16%
17%
SPECIALISED
PRESS
13%
15%
1H 2001
OTHER
13%
15%
1H 2000
Advertising Trend
Prisa vs. Sector
Sector
Prisa
96%
200%
+6,1%
+4%
+4%
-2%
-9,6%
-2,4%
-10,2%
-11,00%
-15%
TV
National
Press
1 Source: Prisa Group Estimates
-25%
Magazines
Radio
Internet
TOTAL
BUSINESSES
EL PAIS
Main Figures
1H 2001
1H 2000
152.58
159.91
-4.6%
EBITDA
34.76
45.69
-23.9%
EBIT
29.65
40.76
-27.3%
EBIT Margin
19.4%
25.5%
(€mn)
Revenues
% chg.
EL PAIS
Leadership in terms of circulation & Market share
30% Market Share
1H01
DAILY COPIES SOLD
436,253
COPIES SOLD ON WEEKENDS
717,721
EL PAIS
Revenues Distribution
102,03
(€mn)
90,55
82,93
54,4
54,28
1H99
Advertising Sales
1H00
56,99
1H01
Newspaper & Magazines sales
RADIO/SER
Main Figures
1H 2001
1H 2000
% chg.
Revenues
95.33
91.59
+4.1%
EBITDA
18.49
21.34
-13.4%
EBIT
15.43
18.74
-17.6%
EBIT Margin 16.5%
20.5%
(€mn)
Including A3
EBIT
EBIT Margin
20.26
20%
23.04
24%
-12%
RADIO
Positive Evolution in Advertising Sales
CAGR 8%
(€mn)
85
88
1H00
1H01
75
1H99
GRUPO PRISA AUDIENCE
IN SPAIN
9.863.000
(*) Source: EGM. Apr.01.
MARKET SHARE
55%
LOCAL TV
Main Figures
(€mn)
Revenues
EBITDA
LOCAL PRESENCE
20 cities
1H 2001
1.53
-5.42
NAVIA
SANTIAGO
PONTEVEDRA
BILBAOIRÚN
SANTANDER
SAN SEBASTIAN
PAMPLONA
VILADECANS
ALCOBENDAS
MADRID
MOSTOLES
CÁCERES TOLEDO
BÉJAR
CIUDAD REAL
EBIT
-5.81
CASTELLÓN
MORELLA
VALENCIA
BADAJOZ
ELCHE
SEVILLAESTEPA
GRANADA
MORÓN
MÁLAGA
JEREZ FUENGIROLA
MARBELLA
Current Coverage
PUBLISHING
Main Figures
1H 2001
1H 2000
% chg.
180.33
131.20
+37.4%
EBITDA
30.56
24.29
+25.8%
EBIT
17.39
10.88
+59.8%
EBIT Margin
9.6%
8.3%
(€mn)
Revenues
PUBLISHING
Revenues calendar
January-June













Argentina
Costa Rica
Chile
Bolivia
Brasil
Guatemala
Panama
Peru
Honduras
El Salvador
Colombia
Uruguay
Paraguay
June-December




Spain
Mexico
Portugal
Venezuela
ra
z
M il
ex
i
A
rg co
en
tin
a
C
hi
C
le
ol
om
bi
a
Pe
D
om ru
.R
Ec ep.
u
G ad
ua or
te
m
al
B a
ol
i
U via
ru
Ve gua
ne y
zu
el
a
B
Market Size & Potential ‘000 students
PUBLISHING
Growth Potential of the Latam region
20.000
15.000
10.000
5.000
Source: Prisa.
0
Potential
Current
PUBLISHING
Current Market Share
70%
65%
60%
50%
40%
40%
40%
30%
20% 10%
34%
33%
28%
22%
19%
22%
14%
29%
10%
B
ra
z
M il
ex
i
A
rg co
en
tin
a
C
h
C
ol ile
om
bi
a
Pe
D
om ru
.R
e
Ec p.
u
G ado
ua
te r
m
al
B a
ol
iv
i
U
ru a
g
Ve ua
ne y
zu
el
a
0%
Source: Prisa.
SOGECABLE
Main Figures
1H 2001
1H 2000
% chg.
497.2
436.1
+7.4%
EBITDA
68.6
51.1
+34.2%
EBIT
(1.6)
(4.6)
+66.0%
14.0%
11.72%
(€mn)
Revenues
EBITDAMargin
Improving Efficiency & Cost Reduction
Purchase
Centralisation
Shared Services
 Reducing Consumption
 Improving negotiation with suppliers
 Improving process
 Administration
 Human Resources
 Treasury Centralisation
THE ENVIRONMENT
The Environment
GDP GROWTH CONSENSUS:
MAIN MARKETS*:
(Years)
Europe:
USA:
Spain:
Latam:
Dow Jones:
Nasdaq:
Eurostoxx:
Ibex35:
01
2.3
1.8
2.9
2.2
02
2.7
3.0
3.1
3.6
GLOBAL UNCERTAINTY
GDP slowdown
Currencies Weaknesses
Interest Rate Cuts
Oil prices volatility
Source: Bloomberg. * Figures from 28th June 00 to 10 July 01
-0.13%
-44.02%
-23.25%
-22.42%
MAIN PEERS STOCK
PERFORMANCE*:
Recoletos:
Prisa:
Pearson:
BSkyB:
Lagardere:
-57%
-44%
-44%
-48%
-36%
CONCLUSIONS
Conclusions
Difficult Macroeconomic Environment
Less Visibility in Advertising
Investment Opportunities
Balanced Business Portfolio
International Growth Strategy
Cost reduction and efficiency improvement
Non-Core Business Disposals
GRUPO PRISA
1H 2001 RESULTS
July 2001