2009 RESULTS ANNOUNCEMENT PRESENTATION 02 MARCH 2010
DISCLA SCLAIMER IMER This presentation contains forward looking information, including statements which constitute forward looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and assumptions of our management and on information available to management only as of the date such statements were made. Forward-looking statements include (a) information concerning strategy, possible or assumed future results of our operations, earnings, industry conditions, demand and pricing for our products and other aspects of our business, possible or future payment of dividends and share buy back program; and (b) statements that are preceded by, followed by or include the words “believes”, “expects”, “anticipates”, “intends”, “is confident”, “plans”, “estimates”, “may”, “might”, “could”, “would”, and the negatives of such terms or similar expressions. These statements are not guarantees of future performance and are subject to factors, risks and uncertainties that could cause the assumptions and beliefs upon which the forwarding looking statements were based to substantially differ from the expectation predicted herein. These factors, risks and uncertainties include, but are not limited to, changes in demand for the company’s services, technological changes, the effects of competition, telecommunications sector conditions, changes in regulation and economic conditions. Further, certain forward looking statements are based upon assumptions as to future events that may not prove to be accurate. Therefore, actual outcomes and results may differ materially from the plans, strategy, objectives, expectations, estimates and intentions expressed or implied in such forward-looking statements. Additionally, some of these statements refer to board proposals to be submitted to ZON - Multimédia – Serviços de Telecomunicações e Multimédia, SGPS, S.A. (“Multimedia” or “ZON”) AGM and subject to (i) its approval by Multimedia’s shareholders, (ii) the market conditions and (iii) the ZON’s financial and accounting position as revealed in the financial statements approved by Multimedia’s AGM. Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update them in light of new information or future developments or to provide reasons why actual results may differ. You are cautioned not to place undue reliance on any forward-looking statements. ZON Multimedia is exempt from filing periodic reports with the United States Securities and Exchange Commission (“SEC”) pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934, as amended. The SEC file number for PT Multimedia’s exemption is No. 82-5059. Under this exemption, ZON Multimedia is required to post on its website English language translations, versions or summaries of certain information that it has made or is required to make public in Portugal, has filed or is required to file with the regulated market Eurolist by Euronext Lisbon or has distributed or is required to distribute to its security holders. This presentation is not an offer to sell or a solicitation of an offer to buy any securities. 2
1. Continued Strong Operating Performance 3 TÍTULO E DATA DA APRESENTAÇÃO ARIAL 10pt. | 30 09 05
Str tron ong g Operatio rational nal Mom omentum tum RGU Growth Remains Strong RGU U – Reven enue ue Generat neratin ing Unit its [thousands] +17.6% 3.507 3.385 3.251 3.116 2.982 4Q08 1 Q09 2Q09 3Q09 4Q09 [Net Adds - thousands] +144.4 +134.2 +134.4 +134.5 +121.3 4 4
3Play ay Penetratio tration n Over r 40% of of Cabl ble e Subscribe scriber r Base se Triple e Play Subscrib cribers ers Triple e Play Subscrib cribers ers Penet etrat ration ion of Cable e Base RGUs Us per Subscrib criber er [thousands] [units] +17. 7.3% 3% +17. 7.6p 6pp +75. 5.9% 9% 2,17 41% 2,10 37% 484 436 33% 2,02 391 29% 1,95 340 23% 275 1,85 4Q08 1 Q09 2Q09 3Q09 4Q09 4Q08 1 Q09 2Q09 3Q09 4Q09 4Q08 1 Q09 2Q09 3Q09 4Q09 [Net Adds thousands] +64. 4.2 2 +64. 4.5 5 +51. 1.1 1 +44.9 9 +49. 9.3 2010 objective of 30% Triple Play Penetration achieved well ahead of schedule; ZON is the fastest growing Triple Play operator in Europe Each customer now subscribes to 2.17 services, on average, compared with 1.85 a year ago 5
Pay TV – improvi Pay oving ng tr trends ds th throu ougho ghout ut 2009 2009 Cable e Sub ubscri cribers ers DTH Subscrib cribers ers Basic ic Subscrib cribers ers [thousands] [thousands] [thousands] (1.2%) 2%) +0.4% 4% (5.3) 3)% 1.614 1.595 1.595 1.595 1.591 1.179 1.181 1.180 1.176 1.176 438 419 413 414 412 4Q08 1 Q09 2Q09 3Q09 4Q09 4Q08 1 Q09 2Q09 3Q09 4Q09 4Q08 1 Q09 2Q09 3Q09 4Q09 [Net Adds thousands] (14.0) 0) (18.2) 2) (3.9) 9) +3.3 3 +0.1 +4.6 6 +0.2 2 +3.1 1 +2.4 4 (1.0) 0) (18.5) 5) (18.4) 4) (7.0) 0) +0.8 8 +1.2 Basic Customers showing positive net adds of 0.1 thousand in 4Q09 Cable base stable Strong reduction in DTH disconnections in 2Q09, positive net adds of 0.8 thousand in 3Q09 and 1.2 in 4Q09 6 Note: 4Q08 Net Adds are adjusted for the impact of the acquisition of TVTel and Parfitel operations.
Str tron ong ta take-up up of of highe gher value lue digi gital tal servic vices es “Funtastic” Digital Subscribers ZON Boxes es Instal alled ed [thousands] [thousands] +30. 0.7% 7% +6.0x 0x 648 545 613 575 540 496 418 > > 50% withou out PVR 292 184 91 4Q08 1 Q09 2Q09 3Q09 4Q09 4Q08 1 Q09 2Q09 3Q09 4Q09 [Net Adds thousands] +50. 0.0 0 +43. 3.7 7 +35.3 3 +38. 8.2 2 +35.0 Take-up of higher value digital services driving ARPU growth High penetration of HD ZON Boxes, enabling new TV viewing experiences – VoD, HD, EPG, PVR, Pause live TV … ZON today has the broadest range of HD channels which have been instrumental in containing churn in Pay TV 7
Broa oadb dband and, , Fixed xed Voi oice ce and Mob obil ile Very Strong Momentum Maintained Broadb adband and Subscrib cribers ers Fixed ed Voice ice Subscrib cribers ers Mobile e Subscrib cribers ers [thousands] [thousands] [thousands] +17. 7.7% 7% +68. 8.5% 5% +9.5x 5x 611 69 584 594 529 573 479 54 546 419 519 347 33 16 7 4Q08 1 Q09 2Q09 3Q09 4Q09 4Q08 1 Q09 2Q09 3Q09 4Q09 4Q08 1 Q09 2Q09 3Q09 4Q09 [Net Adds thousands] +28. 8.0 0 +27.0 0 +26.5 5 +21.9 9 +16.3 +73. 3.2 2 +72.8 8 +59.2 2 +50.6 6 +54. 4.9 +7.2 2 +8.8 8 +17. 7.4 4 +20.5 5 +15.0 In Broadband, the pace of growth remains strong with 16.3k subs per quarter; with ZON being the leading operator in terms of traffic. Importantly, latest operating data reveals that 17% of all broadband gross adds in 4Q09 subscribed to ZON Fibra offers 55k net adds in Fixed Voice during 4Q09, taking the total Fixed Voice customer base to almost 600k subscribers The mobile business continues to show good pace, with 15.0k net adds in the quarter, supported in particular by the take-up of mobile broadband connections 8
Drivi iving ng ARPU grow owth th Blended nded ARPU Cable e & DTH H ARPU U y.o.y. Growt wth in 4Q09 [euros] [%] +8.0% 0% 12,3% 35,0 34,0 33,6 32,7 32,4 (8,6%) Cable DTH 4Q08 1 Q09 2Q09 3Q09 4Q09 Multipl iple e Servi rvice ce ARPU U Diff ffere erentia iation ion Premi emium betwee een n Cable e and DTH ARPU [Single Play ARPU = 1] [%] 2,15 51,4% 1,0 23,2% 1 P 3P 4Q08 4Q09 9
2. Supported by Solid Financial Indicators 10 TÍTULO E DATA DA APRESENTAÇÃO ARIAL 10pt. | 30 09 05
Revenues nues drive iven by by RGU and ARPU U grow owth th Operat ratin ing Revenu enues es FY09 / FY08 Operat ratin ing Revenu enues es 4Q09 / 4Q08 [millions of euros] [millions of euros] +7.5% 5% +7.3% 3% 823,0 217,5 766,0 202,6 4Q08 4Q09 2008 2009 Pay TV, Broad adban and and Voice ce FY09 / FY08 Pay TV, Broad adban and and Voice ce 4Q09 / 4Q08 [millions of euros] [millions of euros] +9.4% 4% +9.1% 1% 193,2 739,4 176,5 677,6 2008 2009 4Q08 4Q09 11
Improv oving ing Sequential ential Trends nds in Audi diov ovisua isuals s and d Cinema ema Revenues nues Audio diovisu visuals 4Q09 / 4Q08 Audio diovisu visuals 2009 / 2008 [millions of euros] [millions of euros] (3.4) 4)% (2,7) 7)% 63,7 62,0 19,1 18,5 4T08 4T09 2008 2009 Cinem nema a 4Q09 / 4Q08 Cinem nema a 2009 / 2008 [millions of euros] [millions of euros] +10, 0,4% 4% +13. 3.9% 9% 54,4 15,1 49,2 13,3 12 4T08 4T09 2008 2009 12
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