SHAPING SHAPING THE FUT THE FUTURE URE #bestofbothworlds
Importa Important nt notice notice
Pres Presenter enters s An Ande ders Je Jensen Pe Pernille Erenbjerg Jør Jørgen Mads dsen Li Linde deman mann
Presenting Pres enting Ne New w co corporat rporate e bran brand
Transaction Transaction overview overview Transaction structure Ownership of the combined entity MTG Grou oup TDC C Grou oup Sharehol olde ders Sharehol olde ders 28% 72% 72% New Company with New Brand
Summary Summar • Dea eal str tructure cture - - - • • Valuation • Corporate • Governance • • Value creation • • Merger approval • • Timetable • •
Europe’s first fully convergent media & communic communications ations provider provider • Significant synergies ~600 • ~400 ~200 • • • • Year 1 cash accretive • • 15% 5% •
TD TDC C Group Group Norway Norway Denmar mark Broa Br oadb dband/T d/TV Mob obile Broa Br oadb dband/T d/TV Mobi Mobile
MT MTG G Nord Nordic ic Enterta Entertainment inment & MT & MTG G Studios Studios Norway Norway Swede den Denmar mark Finland Finlan MTG Studi dios os (17 cou ountries)
First of First of its its kind combina kind combination tion Swede den Norway Norway Finlan Finland Denmar mark MTG Studi dios os
A scale A scale Nord Nordic ic player player 2017 figures Reve Re venue (DKK KKm) m) Reve Re venue Grow owth EBIT BITDA A (DKK KKm) m) EBIT BITDA A mar margin EBIT BITDA-CAPE CAPEX (DKK KKm) m) Cash Con Ca Conve version on Pe Peop ople
Com Compelling s pelling strate trategic gic ration rationale ale • Com ombina bination tion of of tw two o hig ighly 1 com omple plementa tary ry entertainme tertainment t • com ompan panie ies • Providing Prov ng att attractiv ractive con consum umer r • 2 propos propositi ition ons with ith broad, broad, flexibl ible an and d person personali alize zed s d serv rvice ices for for ev everyon ryone • • 3 Hi Highl ghly y val value ue c cre reating ating for or • share arehol olde ders rs •
Excel Excellent lent content content off offering ering & scale & scale Acquired Sports Acquired TV & Movies Originals & Own productions Partnerships
Pan-Nord Pan Nordic ic rea reach & mark ch & market et position position 2.8 2.8m m 3.1m 3.1m 2.1m 2.1m 1.5m 1. 5m TV subs ubs Mob Mobile e Voi oice s ce subs ubs Str Strea eami ming subs bs Bro Broad adban and d subs ubs all 10 m 10 mill illion ion No Abi Abili lity ty to to reach each all Nordic h dic households ouseholds on on hi high qu h qualit ality y ne networ tworks ks
Best Best-in in-class te class tech ch capabilities capabilities & consume & consumer insight r insight Top 5 >1,000 Multi-platform consumer insight
Next gen Next genera eration tion enter entertainme tainment nt ser servic vices es Own streami Own ming Own linear Own New TV experience With partners Wit
Enterta Entertainment inment Made Made for for You You Kids Free TV Fre TV Spor Sp orts ts 1 2 Series Seri es Movies Mo es On On Dema emand 3
Driving mobile Driving m obile video revolution video revolution in t in the he Nord Nordics ics Per Person onalised ed Choos Cho ose e mobil mobile e Acces ccess to to bes best t servi ervice ce bas based ed on on acces ccess pack pack bas based ed spor ports ts con conten tent your i you r inter teres est on you on your r need eeds • • • • • • • • •
Future Future proo proof f advertising advertising mod models els Digital tal 100% IP Val Value e grow rowth th Linea ear r viewi ewing Ra Radi dio 40% IP
Significant Significant cost cost & & revenue revenue syner synergies gies Run-rate Cash Type Description Flow impact • • • Cost synergies ~400mDKK • • • • Revenue synergies ~200mDKK • • • ~500mDKK Integration costs (2018-2019)
Creating Cre ating value fo value for r shar shareholder eholders s fro from m year 1 year 1 Valuati tion on upsi pside Cas Cash flow ow accr ccreti etive 15% 15.5x 14.6x 10% 13.5x 13.0x 5%
Enabling Enabling impro improved capital structure ved capital structure Exp xpected ected net et lev everag erage e ev evol olutio tion 2.8 2.6
And And highe higher r shar shareholder eholder retur returns ns Illustr Ill trativ tive e dividen end tr trajector ectory +33% [1.40] 1.15 1.05
Combining Com bining compleme complementary capabilities ntary capabilities & skills & skills Board of Directors Pierre Danon Management Pernille Erenbjerg Anders Jensen Team ~810 ~8100 0 ~1 ~1800 00 Employees ees Employees ees
SHAPING SHAPING THE FUT THE FUTURE URE #bestofbothworlds
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