Atresmedia Corporación de Medios de Comunicación S A : Financial Results Presentation 9M2019

October 24th, 2019

www.atresmediacorporacion.com

"We believe in the power of reflection and emotion"

9M19 Highlights

• According to external sources, Total Ad market decreased by around 3% in 9M19 with TV down by 6%, Radio up by 2% and Digital up by 9%
• Atresmedia achieved 26.5% audience share in Total Individuals and 28.0% in Commercial Target. Both roughly in line with 9M18
• Atresmedia TV increased market share by 30bps up to 41.2%
• Atresmedia Digital revenue grew by 8% up to €33 mill
• Atresmedia Radio's NAR totaled €59 mill (+1% yoy)
• Atresmedia's Total Net revenue amounted to €724 mill; -3.2% yoy
• OPEX stood at €597 mill; -4.2% yoy
• EBITDA of €126 mill (+1.9% yoy) which implies EBITDA margin of 17.5%
• Net Profit reached €80 mill and FCF was €119 mill
• Total Net Debt stood at €179 mill (vs €231 mill at Dec 2018), less than 1x Net Debt /last 12m EBITDA

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9M19 Financial Summary

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Atresmedia

9M 19 Results in € mill: P&L

Net Revenues

OPEX

EBITDA

EBITDA Margin

EBIT

EBIT Margin

Net profit

Net profit Margin

9M 19		9M 18		YoY

• 723.7 747.6 -3.2%

<<<<<<<<<<<<<<<<<597.3 623.6 -4.2%

<<<	126.4	124.0	+1.9%
17.5%	16.6%
	111.8	110.1	+1.5%
	15.4%	14.7%
	80.3	86.1	-6.8%
	11.1%	11.5%

Source: Atresmedia's financial statements

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Atresmedia: Net revenues by segment

• Total Net Revenues stood at €724 mill, -3.2% yoy
• Audiovisual revenues were €672 mill (-3.5% yoy)
• Radio revenues totaled €59 mill (+0.6% yoy)

Net Revenues

In € mill

	-3.2%
			-3.5%
748	724	696
	672

					+0.6%
					59	59
9M 18	9M 19		9M 18	9M 19	9M 18	9M 19
Total Group		Audiovisual			Radio

Source: Atresmedia's financial statements

Eliminations are not included

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