PRESENTATION OF 2018 HALF-YEAR RESULTS
DISCLAIMER STATEMENTS CONTAINED IN THIS DOCUMENT, THE CONTENT OF THIS DOCUMENT MUST NOT BE PARTICULARLY THOSE CONCERNING FORECASTS ON CONSIDERED AS AN OFFER DOCUMENT NOR AS A FUTURE M6 GROUP PERFORMANCE, ARE FORWARD- SOLICITATION TO BUY OR SELL M6 GROUP SHARES. LOOKING STATEMENTS THAT ARE POTENTIALLY SUBJECT TO VARIOUS RISKS AND UNCERTAINTIES. THE INFORMATION, TABLES AND FINANCIAL STATEMENTS INCLUDED IN THIS DOCUMENT, ANY REFERENCE TO M6 GROUP PAST PERFORMANCE ESPECIALLY IN THE APPENDICES, REFLECT THE SHOULD NOT BE INTERPRETED AS AN INDICATOR OF FINANCIAL INFORMATION AVAILABLE IN THE HALF-YEAR FUTURE PERFORMANCE. FINANCIAL REPORT AS CERTIFIED BY THE STATUTORY AUDITORS AND TO BE FILED WITH THE AMF. 2
M6 GROUP PRESENTATION OF 2018 HALF-YEAR RESULTS 1. KEY FIGURES 2. OPERATIONS 3. FINANCIAL STATEMENTS 3
KEY FIGURES
1. KEY FIGURES KEY FIGURES (€ millions) INCREASE IN RESULTS H1 2017 H1 2018 +11.4% 738.0 +12.5% 662.4 +18.4% 527.1 948.0 617.0 548.6 445.3 +9.1% 129.4 +15.1% 118.7 79.5 69.1 8.4 4.9 CONSOLIDATED CONSOLIDATED ADVERTISING OPERATING OTHER OPERATING NET PROFIT EBITA REVENUE REVENUE EXPENSES REVENUES MARGIN FROM RECURRING NET MARGIN OPERATIONS 17.9% 17.5% 10.4% 10.8% 5
1. KEY FIGURES PERFORMANCE OF TV OFFSET BY OTHER ACTIVITIES INTEGRATION OF RTL RADIO TOTAL RADIO TOTAL TELEVISION PRODUCTION & OTHER DIVERSIFICATION EXCL. RADIO AUDIOVISUAL RIGHTS +€77.8M +€75.6M H1 2018 +€15.5M VS H1 2017 REVENUE - €17.4M GROWTH - €0.2M - €2.1M +€13.2M +€10.7M +€10.4M H1 2018 VS H1 2017 +€0.3M - €14.9M +€2.6M EBITA - €0.5M GROWTH 6
TELEVISION AUDIENCE RATINGS
2. TELEVISION - AUDIENCE RATINGS H1 2017 H1 2018: M6 GROUP POSTS A YEAR-ON-YEAR DECLINE LIKE ALL H1 2018 TRADITIONAL PRIVATE GROUPS AUDIENCE SHARE OF TRADITIONAL AUDIOVISUAL GROUPS’ CHANNELS +1.2PP -0.6PP -0.4PP 28.0 -0.2PP 27.9 27.3 26.8 4+ AUDIENCE SHARE 6.2 (%) 13.4 13.8 6.4 = -0.7PP +0.8PP 32.5 32.5 -0.8PP WRP <50 21.8 16.6 AUDIENCE SHARE 21.1 15.8 (%) 6.2 7.0 8 Source: Médiamétrie Médiamat
2.TELEVISION - AUDIENCE RATINGS H1 2017 H1 2018: M6 CHANNEL RATINGS DECLINED YEAR-ON-YEAR H1 2018 +0.2PP +0.6PP 19.9 20.1 +0.8PP -0.4PP +0.3PP +0.2PP 13.2 12.6 4+ AUDIENCE SHARE 9.5 9.5 8.7 9.1 (%) 2.4 1.3 1.1 2.1 +0.4PP 22.3 -0.6PP 21.9 +0.3PP +0.7PP 15.2 14.6 +0.2PP = WRP <50 AUDIENCE 4.2 8.4 8.1 3.5 SHARE (%) 0.9 1.0 0.9 0.8 9 SOURCE: MÉDIAMÉTRIE MÉDIAMAT
2.TELEVISION - AUDIENCE RATINGS M6 REMAINS THE TRADITIONAL CHANNEL THAT PROVED THE MOST RESILIENT TO THE ARRIVAL OF DTT CHANNELS H1 2008 H1 2018 -27% 27.6 -26% 20.1 -29% 17.8 -19% 13.3 13.2 CHANGE IN 4+ -61% 11.2 9.5 AUDIENCE SHARE 9.1 BETWEEN H1 2008 3.3 AND H1 2018 (%) 1.3 10 SOURCE: MÉDIAMÉTRIE MÉDIAMAT
3.1 M 24% WRP<50 2.TELEVISION - AUDIENCE RATINGS BEST SEASON AMONG WRP<50 M6: MANY PRIMETIME FOR 5 YEARS SUCCESS SUCCESS STORIES, OF EVENTS ACROSS ALL TYPES OF PROGRAMMES 2.7 M 19% WRP<50 BEST SEASON AMONG RECORDS FOR HIGHEST AUDIENCE OF WRP<50 FOR 10 YEARS NEWS PRO- THE HALF-YEAR ON M6 GRAMMING WITH THE FINAL OF THE EUROPA LEAGUE 6.7 M UP TO 4.0 M STRENGTH OF FRENCH DRAMA
TELEVISION DTT AUDIENCE RATINGS 12
2. TELEVISION – DTT AUDIENCE RATINGS W9 RETAKES 2 ND PLACE AMONG DTT CHANNELS ON THE COMMERCIAL H1 2017 H1 2018 TARGET AND 6TER TAKES 5 TH PLACE 3,6 3,4 3,2 3,0 3,0 2,7 2,7 2,4 2,2 2,1 2,0 1,9 1,9 1,7 1,7 1,7 1,8 1,6 1,7 1,6 1,5 1,5 1,3 1,2 1,1 1,1 1,2 1,1 1,1 1,1 4+ AUDIENCE 0,7 0,6 0,6 0,6 SHARE (%) 4,5 4,2 4,3 4,1 3,9 3,7 3,4 3,3 2,6 2,7 2,5 2,5 2,5 2,2 2,2 2,1 1,9 1,9 1,7 1,7 1,6 1,5 1,5 1,5 WRP <50 1,2 1,2 1,1 1,0 AUDIENCE SHARE 0,6 0,5 0,3 0,4 0,2 0,2 (%) 13 SOURCE: MÉDIAMÉTRIE MÉDIAMAT
2. TELEVISION – DTT AUDIENCE RATINGS SOLID SEASON OF W9, DRIVEN BY ITS EXCELLENT PRIMETIME PERFORMANCES MOST BEST SEASON EVER FOR POPULAR RANGE OF EUROPA LEAGUE MAGAZINES ON DTT 2.1M IN PRIMETIME ON AVERAGE OVER THE SEASON AND UP TO 4.7M BEST SEASON EVER FOR THE FINAL BETWEEN SALZBURG AND OM, FOR THE MAGAZINE REPRESENTING AN ALL-TIME RECORD AUDIENCE FOR W9 UP TO 1.2M FOR L’AFFAIRE MAËLYS 2.2M NEW RECORD VIEWING FIGURES FOR MOST A FILM ON W9 POPULAR AND HIGHEST RANGE OF RATINGS FOR REALITY- A FILM ON SERIES TV DTT THIS SHOWS ON SEASON DTT 1.1M ON AVERAGE ACROSS 4 SCREENS OVER 7 DAYS FOR ALL REALITY 14 SHOWS OVER THE SEASON
VERY STRONG BREAKFAST AND EARLY AFTERNOON SLOTS 6TER MOST POPULAR CHANNEL ACROSS ALL DTT GENERATIONS TELEVISION – DTT AUDIENCE RATINGS 6TER LEADER OF THE NEW DTT CHANNELS RECORD AUDIENCE ON THE COMMERCIAL RATINGS IN TARGET PRIMETIME WITH THE FILM SISTER ACT 1.0 M GROWING SUCCESS FOR THE NEW DAILY SHOW LES MAMANS 15
2. TELEVISION – DTT AUDIENCE RATINGS PUISSANCE TNT THE LEADING DTT SERVICE H1 2018 AUDIENCES (WRP<50) -0.1pp 6.5% -0.3pp -0.9pp 4.2% 3.4% THE LEADING ADVERTISING SERVICE ON DTT 16
TELEVISION 6play AUDIENCE RATINGS
2. TELEVISION – 6PLAY AUDIENCE 21.8 MILLION REGISTERED USERS ON 6PLAY IN OTT WITH ALMOST 22 MILLION ACCOUNTS CREATED, 6PLAY BENEFITS FROM A REAL STRENGTH ON THE ADVERTISING MARKET IN TERMS OF DATA 21.8M 25 000 000 20 000 000 15 000 000 10 000 000 5 000 000 0 18 Source: Gigya
2. TELEVISION – 6PLAY AUDIENCE HIGH VIEWING FIGURES ON 6PLAY 45M ** 34% of French hours watched per month viewers watched M6 Group on TV, PC, mobile & tablet programmes via catch-up on up 0.9% vs H1 2017 TV over H1 2018, representing 117M ** 19.7 M videos viewed / month on TV, PC, mobile & tablet individuals * up 5.1% vs H1 2017 * H1 2018 cumulative coverage: 19,7M – source Médiamétrie Médiamat / YTD January – June 2018 French population over 4 years with a television: 58.4 million. Source - Médiamétrie (May 2018) 19 **Médiamétrie eStat / YTD January - May 2018 - total number of videos viewed
RADIO AUDIENCE RATINGS
2. RADIO RADIO DIVISION: 10-YEAR RECORD FOR AN H1 AUDIENCE SHARE AUDIENCE SHARE, BY RADIO GROUP (%) The Radio Division recorded strong growth . With an audience share of 19.8% (up 1 pp year-on- year), the Group’s radio +1.9 pp stations posted their best -1.6 pp performance in 10 years. -2.5 pp 19,8 19,3 * 18,8 18,6 17,9 15,7 15,2 14,8 14,2 14,1 13,4 13,1 13,0 RTL Radio Division 11,8 10,9 extends its lead on NRJ Group to 5.7 pp. RTL Radio Division NRJ Group Lagardère (3 stations) (4 stations) (3 stations) January-June 2014 January-June 2015 January-June 2016 January-June 2017 January-June 2018 Médiamétrie 126,000, Monday-Friday, 5am-12am, 13 + audience share 21 * recalculated
ADVERTISING MARKET
2. ADVERTISING MARKET M6 GROUP ADVERTISING +0.9% REVENUE REACHED AN ALL-TIME HIGH 417.7 413.8 FREE-TO-AIR CHANNELS M6 GROUP NET ADVERTISING +18.4% REVENUES (€ M) H1 2017 H1 2018 527.1 OTHER +248.0% OPERATIONS 445.3 109.4 31.4 internet H1 2017 H1 2018 H1 2018 H1 2017 23
2. ADVERTISING MARKET ALL THE CHANNELS IN THE MARKET HAVE A LONG ADVERTISING TIME H1 2018 AVERAGE DAILY ADVERTISING TIME 03:50 03:21 02:52 02:24 01:55 03:36 03:28 03:25 03:25 03:23 03:23 03:18 03:17 03:15 03:14 03:12 03:11 03:11 02:57 02:56 01:26 02:49 00:57 00:28 00:00 TF1 TMC TFX CNEWS NRJ12 CHERIE LCI C8 CSTAR BFM TV W9 M6 6TER NUMERO TF1 RMC DEC Series 25 23 Films 24 Source: Micromarché / M6
TELEVISION & RADIO EBITA
2. TV & RADIO KEY FIGURES TV REVENUE (€ M) RADIO REVENUE (€ M) GROWTH IN ADVERTISING +3.3% REVENUE H1 2017 H1 2018 482.7 467.2 SIGNIFICANT IMPACT OF NEW DISTRIBUTION AGREEMENTS 77.8 TV EBITA (€ M) RADIO EBITA (€ M) +12.3% PROGRAMMING COST OF FREE-TO- AIR CHANNELS WAS €224.5M (VS €221.1 OVER H1 2017) 120.1 106.9 10.4 26
PRODUCTION AND AUDIOVISUAL RIGHTS
2. PRODUCTION & AUDIOVISUAL RIGHTS DISTRIBUTION REVENUE (€ M) A WEAKER LINE-UP OF SND FILMS THAN LAST YEAR -35.3% 9 FILMS RELEASED IN H1 2017 CINEMAS 49.3 H1 2018 31.9 2.9 M ADMISSIONS IN FRANCE 545 K 600 K (VS 6.3 M OVER H1 2017) ADMISSIONS ADMISSIONS PRODUCTION EBITA (€ M) IMPROVED PERFORMANCE 4 FILMS FINANCED OF PRODUCTION COMPANIES 2.9 M +56.2% ADMISSIONS IN FRANCE 7.1 4.6 ACCELERATED DEVELOPMENT 600 M VIDEOS VIEWED EACH 1.7 M 695 K 28 MONTH ON YOUTUBE ADMISSIONS ADMISSIONS
DIVERSIFICATION
2. DIVERSIFICATION STABLE VOLUME OF BUSINESS – EBITA IMPACTED BY F.C.G.B’S LOSSES PORTALS END OF 2017-18 SEASON: 6 TH (ALSO M6BOUTIQUE ADVERTISING HOLDING 6 TH IN 2016-2017) CELEBRATES ITS UP WELL, MORE THAN 30 TH ANNIVERSARY OFFSET BY THE REVENUE (€ M) DECLINE IN QUALIFICATION FOR MARKETPLACE THE 2 ND BUSINESS H1 2017 PRELIMINARY ROUND OF H1 2018 -0.2% 145.7 145.5 RANGE UNDERGOING MOMENTUM OF RENEWAL LOSSES OF €17.6 M IN H1: - REPLACEMENT OF TECHNICAL STAFF IN EBITA (€ M) JANUARY 2018 - PLAYER TRANSFERS PLANNED FOR H2 2018 EXCLUSIVE 10.6 NEGOTIATIONS WITH ALBELLI FOR THE SALE OF (4.2) 30
FINANCIAL STATEMENTS
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