2010 1q results presentation downloadplit/2010+1q...mediaset group 2010 1q | net profit adjustment...

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2010 First Quarter Results Presentation11th May 2010

| 2 |

Broadcasting

| 3 | Broadcasting

ITALY | TV Consumption trend (2003-2010)

250 251245

251

232 232

245 244

270270

256

255

273

266

271

269

2003 2004 2005 2006 2007 2008 2009 2010

Individuals

15-64 years

Source: Auditel (1 January – 31 March of each year)

Average Daily minutes

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39.8%

1.3%

41.1%

3.0%

44.1%

33.9%

3.0%

36.9%

36.9%

1.4%

38.3%

2.3%

40.6%

39.2%

2.7%

41.9%

Generalist (C5+I1+R4)

Multichannel FTA (2)

Subtotal

Pay TV Channels

Total

Generalist (R1+R2+R3)

Multichannel FTA (11)

Total

Individuals 15-64 yrs

Source: Auditel (1 January – 31 March 2010); Pay TV Channels, Company elaborations on Auditel data

24 hours

Broadcasting

MEDIASET 2010 1Q | Audience Share

| 5 |

39.9%

1.0%

40.9%

3.4%

44.3%

36.7%

2.3%

38.9%

36.9%

1.2%

38.1%

2.9%

41.0%

40.9%

2.1%

43.0%

Individuals 15-64 yrsPrime Time

Broadcasting

MEDIASET 2010 1Q | Audience Share

Generalist (C5+I1+R4)

Multichannel FTA (2)

Subtotal

Pay TV Channels

Total

Generalist (R1+R2+R3)

Multichannel FTA (11)

Total

Source: Auditel (1 January – 31 March 2010); Pay TV Channels, Company elaborations on Auditel data

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Advertising

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Total Market*

Mediaset

Total Market excluding Mediaset*

Rai

Newspapers

Magazines

Radio

Internet

1Q2010 vs. 1Q2009

+4.4%

+5.3%

+3.9%

+3.2%

+3.5%

-10.3%

+12.6%

+3.0%

ITALY 2010 1Q | Advertising market trend

Source: Nielsen (January-March)* Excluding Cards, Out-of-home, Direct Mail

Advertising

| 8 | Advertising

1Q 2009 1Q 2010

645.7679.4

+5.2%

Euro mlMEDIASET 2010 1Q | Advertising revenues

| 9 | Advertising

1Q 2009 1Q 2010

656.1702.1

+7.0% (including Digitalia)

Euro mlMEDIASET 2010 1Q | Advertising revenues

| 10 |

Non-Food

PERSONAL CARE

HOUSEKEEPING

TOILETRIES

Total Grocery

Food

FOOD

BEVERAGES

MEDIASET 2010 1Q | Recovery of Fast Moving Consumer Goods

1Q 09 vs. 1Q 08 1Q 10 vs. 1Q 09

-16.2%

-14.0%

-24.5%

-14.5%

-18.2%

-24.6%

+1.4%

-15.6%

+14.2%

+20.6%

-14.0%

+9.6%

+5.3%

+10.4%

+12.1%

+12.5%

Advertising

| 11 |

MEDIASET 2010 1Q | Advertising Breakdown by Sector

TELECOM

AUTOMOTIVE

FINANCE/INSURANCE

-5.2%

-5.8%

-10.6%

Advertising

1Q 09 vs. 1Q 08 1Q 10 vs. 1Q 09

+14.0%

+2.7%

+8.5%

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HOUSEHOLD APPLIANCES

CLOTHING

MEDIA/PUBLISHING

MEDIASET 2010 1Q | Advertising Breakdown by Sector

-27.6%

-23.6%

-24.3%

Advertising

1Q 09 vs. 1Q 08 1Q 10 vs. 1Q 09

-16.8%

-13.1%

-24.0%

| 13 | Advertising

Top 10 Top 30

+9.3%

+5.7%

MEDIASET 2010 1Q | Top Investors*

* Top 2009 Publitalia clients (sales order)

+5.2%

Total

(1Q2010 vs. 1Q2009)

| 14 | Advertising

506

42

Active clients

New clients

RetailClothingPharmaceutical/Health

MEDIASET 2010 1Q | New business activity

| 15 |

Financials

| 16 |

MEDIASET GROUP 2010 1Q | P&L Highlights

Net Consolidated Revenues

EBITDA

EBIT

NET PROFIT (Reported)

NET PROFIT (Adjusted*)

Group Net Financial Position

1Q 2009(Euro ml.)

*Excluding the net impact of the amortisation of intangibles related to the PPA of Endemol

952.4

432.4

138.4

60.0

63.5

(1,316.0)

Financials

1Q 2010

1,119.4

513.3

199.5

92.9

95.9

(1,256.3)

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FinancialsItalian Business

| 18 |

MEDIASET ITALIAN BUSINESS 2010 1Q | P&L Results

Net Consolidated RevenuesPersonnel Costs

Other Operating Costs

EBITDARights Amortisation

Other Amortisation & Depreciation

Operating ProfitFinancial Income (Losses)

Associates

Pre-Tax ProfitTaxes

NET PROFIT

1Q 2009(Euro ml.)

793.0(108.5)

(338.4)

346.2(218.8)

(32.6)

94.8(14.2)

0.7

81.3(31.3)

47.4

Financials

1Q 2010

907.9(110.1)

(397.1)

400.7(243.3)

(33.9)

123.4(6.7)

-

116.7(49.8)

65.2

% Var

+14.5%

+15.7%

+30.2%

+37.5%

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FTA TV

Network Operator

Pay TV

Other Activities

Intra-company Eliminations

Adjustments

TOTAL

Total NetRevenues

605.4

50.8

214.7

109.6

(34.2)

(38.6)

907.9

OperatingProfit

133.0

0.5

(8.9)

4.6

-

(5.7)

123.4

(Euro ml.)

Financials

Total Costs(including D&A)

(472.4)

(50.3)

(223.7)

(105.0)

34.2

32.9

784.4

MEDIASET ITALIAN BUSINESS 2010 1Q | Operations Breakdown

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MEDIASET ITALIAN BUSINESS 2010 1Q | FTA TV Operations

(Euro ml.)

Total Net TV Revenues

TV Advertising Revenues

Multichannel Adv. Revenues

Commissions

Other TV Revenues

Total TV CostsPersonnel

TV Operating Costs

TV Rights Amortisations

Other A&D

Net Intra-company Items

FTA TV Operating Profitmargin

574.7

645.7

2.1

(96.1)

23.1

(480.4)

(89.9)

(212.1)

(150.4)

(13.9)

(14.0)

94.316.4%

1Q 2009

Financials

605.4

679.4

5.4

(101.7)

22.4

(472.4)

(91.2)

(215.4)

(139.5)

(9.8)

(16.5)

133.022.0%

1Q 2010

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MEDIASET ITALIAN BUSINESS 2010 1Q | Network Operator

1Q 2009(Euro ml.)

Total Net Revenues

3° Party DVB-T/DVB-H Revenues

Other Revenues

Net intra-company Items

Total CostsPersonnel

Other Operating Costs

Other Amortisation & Depreciation

Network Operator Operating Profit

58.825.5

1.7

31.5

(46.0)(9.2)

(23.7)

(13.1)

12.8

Financials

1Q 2010

50.815.1

1.5

34.2

(50.3)(9.1)

(25.7)

(15.6)

0.5

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MEDIASET PREMIUM | Active Clients

Source: Company data, until 7 May 2010

2009-10 Season

2008-09 Season

4,245,000

1 Jul

3,725,000

Financials

3,382,000

2,911 ,000

31 Dec 31 Mar 7 May

4,143,000

3,276,000

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MEDIASET ITALIAN BUSINESS 2010 1Q | Pay TV

Total Net Pay TV Revenues

Pay TV Revenues

Advertising Revenues

Other Revenues

Commissions

Total Pay TV CostsPersonnel

Other Operating Costs

Rights Amortisations and Other D&A

Net intra-company items

Pay TV Operating Profit

1Q 2009(Euro ml.)

138.9

72.2

7.3

60.5

(1.0)

(152.9)(3.1)

(63.6)

(69.9)

(16.4)

(14.0)

Financials

1Q 2010

214.7

115.1

16.7

85.3

(2.4)

(223.7)(4.4)

(95.2)

(107.5)

(16.5)

(8.9)

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Total Net RevenuesMedusa/Taodue 3° Party revenues

Medusa/Taodue intra-company revenues

Multimedia

Mediashopping

Other Non-TV Revenues

Total CostsPersonnel

Other Operating Cost

Right Amortisations and other D&A

Intra-company Items

Other Activities Operating Profit

1Q 2009(Euro ml.)

108.225.6

56.0

7.3

10.2

9.0

(90.1)(6.2)

(48.6)

(32.8)

(2.5)

18.1

Financials

MEDIASET ITALIAN BUSINESS 2010 1Q | Other Activities

1Q 2010

109.627.6

38.5

6.5

27.5

9.5

(105.0)(5.4)

(65.1)

(32.5)

(2.0)

4.6

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164.6 153.2

53.5 34.4

6.8 4.2

10.412.6

(Euro ml.) TV rights and cinema

Pay TV rights

DTT

Technical & immaterial

Total Investments

MEDIASET ITALIAN BUSINESS 2010 1Q | Investments

Financials

237.5 202.1

1Q 20101Q 2009

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MEDIASET ITALIAN BUSINESS 2010 1Q | Cash Flow Statement

Initial Net Financial Position (01/01)

Cash Flow from Core Activities

Cash Flow from Operations

Investments

Disinvestments

Change in Net Working Capital (CNWC)

Equity (Investments)/Disinvestment

Free Cash Flow

Cashed in Dividends

Change in Equity

Total Net Cash Flow

Final Net Financial Position (31/03)

Group Net Financial Position (31/03)

1Q 2009(Euro ml.)

(1,345.8)

66.5

304.8

(237.5)

0.7

(1.6)

(1.4)

65.1

-

-

65.1

(1,280.7)

(1,256.3)

Financials

1Q 2010

(1,396.0)

197.9

361.4

(202.1)

0.4

38.1

8.9

206.8

24.8

-

231.6

(1,164.4)

(1,316.0)

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MEDIASET SPANISH BUSINESS | Back up Slides

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159.7

(20.4)

(53.0)

86.2

(42.5)

43.7

0.0

(11.6)

32.1

(5.2)

29.3

33.4

TELECINCO 2010 1Q | P&L Results

Net Consolidated Revenues

Personnel Costs

Other Operating Costs

EBITDA

Amortisation & Depreciation

EBIT

Financial Income (Losses)

Associates

Pre-Tax Profit

Taxes

NET PROFIT Reported

NET PROFIT Adjusted*

1Q 2009(Euro ml.)

Financials

*Excluding the net impact of the amortisation of intangibles related to the PPA of Endemol

212.0

(19.2)

(80.2)

112.6

(36.5)

76.1

1.6

(11.3)

66.4

(10.0)

58.9

62.4

1Q 2010

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1Q 20101Q 2009

54.9 52.2

1.7 5.2

0.5 0.4

TV rights

Co-production & Distribution

Tangible & Intangible Fixed Assets

Total Investments

TELECINCO 2010 1Q | Investments

Financials

57.1 57.8

(Euro ml.)

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Initial Net Financial Position (01/01)

Free Cash Flow

Cash Flow from Operations

Investments

Change in Net Working Capital (CNWC)

Change in Equity

Equity (Investments)/Disinvest.

Cashed in Dividends

Treasury Shares

Total Net Cash Flow

Final Net Financial Position (31/03)

1Q 2009

(25.9)

55.8

79.3

(57.1)

33.6

(2.6)

(2.9)

-

-

50.3

24.4

(Euro ml.)

TELECINCO 2010 1Q | Cash Flow Statement

Financials

1Q 2010

(156.0)

75.5

105.5

(57.8)

27.9

0.1

(22.6)

(48.4)

-

4.5

(151.5)

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MEDIASET GROUP 2010 1Q | Net Profit Adjustment

NET PROFIT (Reported)

Edam Adjustments from Telecinco

Telecinco Minorities

Net Edam PPA Adjustment

Adjusted NET PROFIT

92.9

3.6

(1.7)

1.2

95.9

(Euro ml.)

Financials

60.0

4.1

(2.0)

1.4

63.5

1Q 2009 1Q 2010

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Forward-looking StatementsStatements contained in this document, particularly the ones regarding any Mediaset Group possible or assumed future performance, are or may be forward looking statements and in thisrespect they involve some risks and uncertainties.

Mediaset Group actual results and developments may differ materially from the onesexpressed or implied by the above statements depending on a variety of factors.

Any reference to past performance of Mediaset Group shall not be taken as an indication of future performance.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein.

The executive responsible for the preparation of the Mediaset S.p.A. accounts, Andrea Goretti, declares that, as per para. 2 art. 154-bis, of the “Testo Unico della Finanza”, that the accounting information contained in this document corresponds to that contained in the company’s books.

Investor Relations Department:

Tel: +39 02 2514.7008Fax: +39 02 2514.6719Email: investor.relations@mediaset.itWebSite: www.mediaset.it/investor/