TF1 
Management Report First nine months of 2021
Management Report - First nine months of 2021 | |
1. Financial information - First nine months of 2021........................... | |
Significant events of the first nine months of 2021.............................................. | |
Analysis of consolidated results.............................................................................. | 8 |
Segment information............................................................................................. | 10 |
Corporate social responsibility............................................................................. | 14 |
Human resources update ..................................................................................... | 15 |
Outlook.................................................................................................................... | 15 |
1.8 Diary dates .............................................................................................................. | 15 |
2. 2021 Condensed consolidated Financial Statements: first nine | |
months of 2021 ......................................................................................... | 16 |
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TF1 - Financial information - First nine months of 2021
1. Financial information - First nine months of 2021
Consolidated results
Financial indicators
These key figures are extracted from TF1 group consolidated financial data. The results below are presented in accordance with IFRS 16.
The results below are presented using the segmental reporting structure as described in Note 3 to the consolidated financial statements.
(€m) | 9m 2021 | 9m 2020 |
Revenue
Group advertising revenue
Revenue from other activitites
Current operating profit/(loss)
Operating profit/(loss)
Net profit/(loss)
Operating cash flow after cost of net debt, income from net surplus cash, interest expense on lease obligations and income taxes paid
Basic earnings per share from continuing operations (€)
Diluted earnings per share from continuing operations (€)
1,651.2 1,361.4
1,162.5 960.8
488.7 400.6
223.1 125.6
217.9 125.6
147.0 77.1
409.9 229.7
0.70 0.37
0.70 0.37
Shareholders' equity attributable to the Group
1,653.5
1,627.9
Net surplus cash/(net debt) of continuing operations
36.3 -70.7
9m 2021 | 9m 2020 | |
Weighted average number of ordinary shares outstanding ('000)
Closing share price at end of period (€)
Market capitalisation at end of period (€bn)
210 392 | 210 311 |
8.5 5.2
1.8 1.1
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TF1 - Financial information - First nine months of 2021
Income statement contributions - continuing operations
The results below are presented using the segmental reporting structure as described in Note 3 to the consolidated financial statements.
(€m) | Q3 2021 | Q3 2020 | 9m 2021 | 9m 2020 | CHG. €M | CHG. % | 9M 2019 | ||||
TF1 group advertising revenue* | 360.0 | 345.8 | 1162.5 | 960.8 | 201.7 | 21.0% | 1 158.4 | ||||
Revenue from other activities* | 162.5 | 132.1 | 488.7 | 400.6 | 88.1 | 22.0% | 456.2 | ||||
Media ** | 447.6 | 424.8 | 1 431,0 | 1 209.8 | 221.2 | 18.3% | |||||
Advertising revenue** | 360.0 | 345.4 | 1162.4 | 960.4 | 202.0 | 21.0% | |||||
o/w digital advertising revenue** | 30.6 | 31.2 | 93.6 | 83.9 | 9.8 | 11.6% | |||||
Newen Studios** | 74.9 | 53.1 | 220.2 | 151.6 | 68.6 | 45.3% | |||||
Consolidated revenue* | 522.5 | 477.9 | 1651.2 | 1361.4 | 289.8 | 21.3% | 1 614.6 | ||||
Media ** | 46.5 | 51.0 | 193.9 | 121.8 | 72.1 | 59.2% | |||||
Newen Studios** | 7.5 | 6.8 | 29.2 | 3.8 | 25.4 | x7.5 | |||||
Current operating profit* | 54.0 | 57.8 | 223.1 | 125.6 | 97.5 | 77.6% | 184.4 | ||||
Current operating margin* | 10.3% | 12.1% | 13.5% | 9.2% | - | +4.3pts | 11.4% | ||||
Operating profit* | 51.2 | 57.8 | 217.9 | 125.6 | 92.3 | 73.5% | 184.4 | ||||
Net profit attributable to the Group* | 38.6 | 38.7 | 147,0 | 77.1 | 69.9 | 90.7% | 117.8 | ||||
Cost of programmes for the 5 channels* | (208.8) | (183.0) | (657.5) | (521.8) | (135.7) | 26.0% | (659.7) | ||||
Cost of programmes*** | (218.1) | (191.3) | (684.5) | (546.7) | (137.8) | 25.2% | (679.9) | ||||
*Published data | |||||||||||
**Proforma data
***"Cost of programmes" is a new indicator. which replaces "Cost of programmes for the 5 channels" from 31 March 2021. Unlike the previous indicator. it includes costs associated with non-linear activities (MYTF1. LCI Digital) and with the theme channels (TV Breizh. Ushuaïa TV and Histoire TV).
Analysis of cost of programmes
(€m) | 9m 2021 | 9m 2020 |
Total cost of programmes | (684.5) | (546.7) |
TV dramas / TV movies / Series / Theatre | (244.7) | (178.0) |
Entertainment | (178.8) | (162.1) |
News (including LCI) | (102.3) | (97.9) |
Movies | (96.3) | (88.3) |
Sport | (53.5) | (13.1) |
Kids | (8.9) | (7.3) |
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TF1 - Financial information - First nine months of 2021
Significant events of the first nine months of 2021
January
22 January 2021
Newen modifies its organization to better reflect its "content first strategy" and support its international expansion. A new entity (Newen France) is created by bringing Telfrance, CAPA and 17 Juin together; the entity is headed up by Romain Bessi, Newen Managing Director.
February
10 February 2021
Bouygues Telecom and the TF1 group sign an agreement enabling advertisers on the Group's TV channels to benefit from Bouygues Telecom's data and technological expertise in segmented TV.
Jumbodiset enters into exclusive discussions with the TF1 group with a view to acquiring TF1 Games and Dujardin, the leading toy and game publishers in France.
19 February 2021
Newen marks a further step in its international expansion by extending its footprint in the UK. Ringside Studios, the UK production company founded by Newen in 2020 with award-winning producer Gub Neal, adds a new dimension with the acquisition of an equity stake in Fictionhouse and a development deal with 44 Drama. Ringside Studio also brings Patrick Irwin on board as executive producer.
The TF1 group is ramping up its support for young people as never before. To help young people through the crisis we have launched "Insight Week" (Semaine Découverte), designed to introduce school students to broadcasting and take them behind the scenes at a major media group. The idea is to enable a number of young people who have been unable to do work
experience in a company because of the Covid crisis to find out about the broadcasting professions and go behind the scenes at the TF1 group.
March
5 March 2021
The TF1 group unveils its very first intake to the "Expertes à la Une" program, developed by our News division to increase the representation of women experts in news coverage on TF1 and LCI. With Elisabeth Badinter as honorary patron, the program welcomes 15 professional women from sectors from a range of sectors including healthcare, medical research, the criminal justice system, policing, artificial intelligence and entrepreneurship (see section 1.5 of this report).
23 March 2021
The TF1 Group demonstrates its commitment to the inclusion of people with disabilities by offering an audio description system for the first time in the history of the French football team during the France-Ukraine match on 24 March.
31 March 2021
LCI announces the arrival of Ruth Elkrief, one of France's leading political journalists. She will strengthen the channel's team of reporters a few months before the regional elections and the 2022 presidential election.
April
15 April 2021
The TF1 group announces the closing of the sale of TF1 Games and Dujardin, France's leading toy and games publishers, to Jumbodiset.
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TF1 - Television Francaise 1 SA published this content on 28 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 October 2021 16:02:07 UTC.
