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ANNUAL SHAREHOLDERS MEETING 22 June 2017 1 DISCLAIMER T he - PowerPoint PPT Presentation

ANNUAL SHAREHOLDERS MEETING 22 June 2017 1 DISCLAIMER T he information in this presentation is of a general nature and does not constitute financial product advice, investment advice or any recommendation. Nothing in this presentation


  1. ANNUAL SHAREHOLDERS MEETING 22 June 2017 1

  2. DISCLAIMER T he information in this presentation is of a general nature and does not constitute financial product advice, investment advice or any recommendation. Nothing in this presentation constitutes legal, financial, tax or other advice. This presentation constitutes summary information only, and you should not rely on it in isolation from the full detail set out in the Annual Report for the twelve months ended 31 December 2016. This presentation may contain projections or twelve months ended 31 December 2016. forward-looking statements regarding a variety of items. Such projections or forward-looking You should not consider any of these statements are based on current expectations, in isolation from, or as a substitute for, estimates and assumptions and are subject the information provided in the audited to a number of risks, uncertainties and Consolidated Financial Statements for the assumptions. There is no assurance that results twelve months ended 31 December 2016. contemplated in any projections or forward- looking statements in this presentation will be While reasonable care has been taken in realised. Actual results may differ materially compiling this presentation, none of NZME from those projected in this presentation. No Limited nor its subsidiaries, directors, person is under any obligation to update this employees, agents or advisers (to the presentation at any time after its release to maximum extent permitted by law) gives any you or to provide you with further information warranty or representation (express or implied) about NZME Limited. as to the accuracy, completeness or reliability of the information contained in it nor takes A number of non-GAAP financial measures are any responsibility for it. The information in used in this presentation, which are outlined in this presentation has not been and will not the reconciliations in the Annual Report for the be independently verified or audited. 2

  3. Welcome PETER CULLINANE INDEPENDENT DIRECTOR 3

  4. AGENDA 1. Chairperson’s address 2. Chief Executive Of icer’s address 3. Ordinary resolutions • Re-election of Director • Auditor’s remuneration 4. General business and shareholder discussion 4

  5. NZME’S TRANSFORMATION & INTEGRATION N C O H A C N E R N O E L C S BRANDED TIVE Listed on NZX Main Board CONTENT NEWS and ASX on 27 June 2016. Demerged from APN PRINT RADIO News & Media Limited on 29 June 2016. Transformed into an audience-centric business focusing on News, Sport ENT. SPORT and Entertainment pillars. Integrating our SER UDIENCES sales and editorial DIGITAL teams, facilitated by NZME Central and regional co-locations. 5

  6. NZME FY16 RESULTS SUMMARY STATUTORY NPAT TRADING REVENUE 1 TRADING EBITDA 1 $74.5m $407.4m $71.9m 74% FY15 $42.9m ▼ 6% FY15 $433.0m 0% FY15 $71.8m 2 PRO FORMA NPAT 1 PRO FORMA EPS 1 $27.8m 14.2cps 1% FY15 $27.5m Fletch, V aughan + Megan 6AM - 10AM WEEKDAYS FULL YEAR DIVIDENDS TOTALLED 9.5 cps (INTERIM 3.5cps, FINAL 6.0cps 3 ) (1) Trading Revenue, Trading EBITDA, Pro forma NPAT and Pro forma EPS are non-GAAP measures that are explained and reconciled in the NZME Full Year 2016 Results Presentation dated 24 February 2017. (2) The FY15 NZME segment result in the APN FY15 accounts was $74.9m, this has been Network Station adjusted for $3.1m of standalone costs incurred in H2 16 to provide a like for like comparison. (3) A supplementary final dividend of 1.06 cents per 6 share was paid to shareholders who were not tax resident in New Zealand and who held less than 10% of the shares in NZME Limited prior to the of the Y ear! ex-dividend date of 7th April 2017.

  7. PROPOSED NZME / FAIRFAX NZ MERGER 7

  8. - AT THE CENTRE OF WHAT NEW ZEALANDERS WANT. Sharing great stories, N E N F I D C N R I O E T U O U N O E C C S C T + D ! ? entertaining, engaging and connecting all New Zealanders. 8

  9. NZME EXECUTIVE TEAM ALLISON SHAYNE MIKE MATT MICHAEL LIZA LAURA DEAN MICHELLE SARAH SARAH WHITNEY CURRIE MORAN WILSON BOGGS MCNALLY MAXWELL BUCHANAN HAMILTON WOOD JUDKINS LEGAL MANAGING GENERAL CHIEF CHIEF CHIEF CHIEF CHIEF GROUP GROUP CHIEF COUNSEL & EDITOR MANAGER, FINANCIAL OPERATING EXECUTIVE MARKETING COMMERCIAL DIRECTOR DIRECTOR STRATEGY COMPANY GRABONE OFFICER OFFICER OFFICER OFFICER OFFICER ENTERTAINMENT CULTURE & OFFICER SECRETARY (Acting) PERFORMANCE 9

  10. NZME BOARD PETER CULLINANE SIR JOHN ANDERSON CAROL CAMPBELL Independent Chairman Independent Director Independent Director 10

  11. Amanda Linnell MATT HEATH Managing Editor JEREMY WELLS 6AM - 10AM WEEKDAYS WINNERS AT THE 2017 Liam Dann THE BLACKIE AWARD NZ Herald Business FOR RADIO COMEDY EXCELLENCE Editor at Large 11

  12. MICHAEL BOGGS CHIEF EXECUTIVE OFFICER 12

  13. NZME IS ONE OF NZ’S LEADING MEDIA & ENTERTAINMENT BUSINESSES C T R O D U B R A N D P S A B I L I C A P T I E S EXPERIENTIAL E-COMMERCE N T N T E + C O H C A N E R N O E L C S BRANDED CREATIVE CONTENT NEWS PRINT RADIO EVENTS VIDEO ENT. SPORT DIGITAL DIVERSE AUDIENCES SERVICES DIGITAL STRATEGY RADIO BRAND AND PLANNING ENGAGEMENT 13

  14. NZME NEWSROOM “THE BRIDGE” 14

  15. NZME TRADING RESULT 1 NZME Trading Result 1 ($m) FY16 FY15 % Change Trading Revenue 1 407.4 433.0 (6%) Other Income 2.4 0.5 334% Costs (337.8) (358.6) (6%) NZME Segment Result 2 71.9 74.9 (4%) Adj. for standalone costs incurred in H2 16 2 - (3.1) (100%) Trading EBITDA 1 71.9 71.8 0% PRO FORMA EPS 1 PRO FORMA NPAT 1 14.2cps $27.8m 1% FY15 $27.5m FULL YEAR DIVIDENDS TOTALLED 9.5 cps 3 ) (INTERIM 3.5cps, FINAL 6.0cps (1) Trading Revenue, Trading EBITDA, Pro forma NPAT and Pro forma EPS are non-GAAP measures that are explained and reconciled in the NZME Full Year 2016 Results Presentation dated 24 February 2017. (2) The FY15 NZME segment result in the APN FY15 accounts was $74.9m, this has been adjusted for $3.1m of standalone costs incurred in H2 16 to provide a like for like comparison. (3) A supplementary final dividend of 15 1.06 cents per share was paid to shareholders who were not tax resident in New Zealand and who held less than 10% of the shares in NZME Limited prior to the ex-dividend date of 7th April 2017.

  16. NZME ACHIEVEMENT OF OPERATIONAL PRIORITIES 2. PRINT REVENUE 3. RADIO REVENUE 1. AUDIENCE GROWTH DECLINE SLOWED AGENCY RETURNED TO GROWTH, 5% 1 DIRECT REVENUE DECLINE SLOWED OF IN FY16 4. DIGITAL REVENUE 5. COST SAVINGS 24% 6% GROWTH YoY YoY 6. TALENT DEVELOPED THE HITS - NEW BREAKFAST SHOW LEADERSHIP PROGRAMMES DELIVERED 7. MERGER PROGRESSED NZ COMMERCE COMMISSION APPEAL PROCESS UNDERWAY (1) Nielsen CMI, November fused database: Last twelve months Q1 15 – Q3 16 (population 10 years +). Based on unduplicated weekly reach of NZME newspapers, radio stations, and monthly domestic unique audience of NZME’s digital channels. Note: At the time the NZME Full Year 2016 Results Presentation dated 16 24 February 2017 was released, the most recent data point available was the last twelve months to Q3 16.

  17. NZME’S REACH IS GROWING, 81% 1 OF NEW ZEALANDERS NOW READ, WATCH, LISTEN TO, OR OTHERWISE ENGAGE WITH OUR BRANDS 84% 88% of the of North Island 1 Auckland 1 NZME 70% REACHES: of the South Island 1 Our national and local presence allows us to offer advertisers broad access to their target markets (1) Nielsen CMI, March fused database: Q1 16 – Q4 16 (population 10 years +). Based on unduplicated weekly reach of NZME newspapers, radio stations, and monthly domestic unique audience of NZME’s digital channels. 17

  18. NZME PRINT PRO FORMA REVENUE 1 -6% IN FY16 To $237.7m • Best Daily Newspaper (more than 30,000 circulation) • Newspaper of the Year • Best Weekly Newspaper • Best Newspaper Front Page (1) Pro forma Revenue is a non-GAAP measures that is explained and reconciled in the NZME Full Year 2016 Results Presentation dated 24 February 2017. (2) Nielsen CMI: Q1 16 – Q4 16 (population 10 years +). Based on unduplicated weekly reach of NZME newspapers, radio • #1 read Sunday Newspaper 1 stations, and monthly domestic unique audience of NZME’s digital channels. 18

  19. NZME RADIO & EXPERIENTIAL TRADING REVENUE 1 -4% IN FY16 To $114.8m T1 17 WINNERS RADIO SURVEY 2 AT THE 2017 NZME total market share Network Station of the Year + 1.9% ‘The Blackie’ award Listener growth across all NZME stations # 1 commercial radio station Numerous other awards (1) Trading Revenue is a non-GAAP measures that is explained and reconciled in the NZME Full Year 2016 Results Presentation dated 24 February 2017. (2) GfK - Radio Trended Network Data, Total NZ Commercial Survey, T1 2017. All 10+ Mon-Sun 12mn-12mn. 19

  20. NZME DIGITAL & E-COMMERCE TRADING REVENUE 1 +9% IN FY16 (1) Trading Revenue is a To $52.2m non-GAAP measures that is explained and reconciled in the NZME Full Year 2016 Results Presentation dated 24 February 2017. INMA WORLD CONGRESS: BEST LAUNCH OF A BRAND OR PRODUCT TO CREATE AN AUDIENCE SEGMENT Laura McGoldrick and Tristram Clayton WEBSITE OF THE YEAR 20

  21. NZME DEVELOPMENT AND NEW INITIATIVES 21

  22. NZME PROPOSED MERGER WITH FAIRFAX NZ STUFF CUISINE THE DOMINION POST SUNDAY STAR TIMES NEIGHBOURLY NZ HOUSE & GARDEN THE PRESS STUFF FIBRE NIGHT NOODLE MARKETS 22 Source: Nielsen CMI Fused Q1 16 - Q4 16 Mar 2017 AP10+

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