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1 2003 ANNUAL RESULTS 27th February, 2004. 2 million GRUPO PRISA – 2003 RESULTS STATEMENT OF INCOME.

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Presentation on theme: "1 2003 ANNUAL RESULTS 27th February, 2004. 2 million GRUPO PRISA – 2003 RESULTS STATEMENT OF INCOME."— Presentation transcript:

1 ANNUAL RESULTS 27th February, 2004

2 2 million GRUPO PRISA – 2003 RESULTS STATEMENT OF INCOME

3 3 REVENUES AND EBIT EXCLUDING EXCHANGE RATES AND NEW ACQUISITIONS YEAR-ON-YEAR CHANGE Revenues EBIT Without adjustments With adjustments GRUPO PRISA – 2003 RESULTS million Exchange Rate Effect New acquisitions EffectNet Effect Revenues EBIT +7.3% +12.0% +13.9%+23.0%

4 4 -4.1% Performance ( million) Revenues by business line ( million) Revenue breakdown by business line +4.6% +3.6% +37.3% REVENUES GRUPO PRISA – 2003 RESULTS %

5 5 El País -1.3% Radio +2.8% Diario As +8.7% Cinco Días -4% Regional Press +27.2% Prisacom -9.4% ADVERTISING REVENUES Prisa Versus Market (% change) +0.6% Business divisions (% change) GRUPO PRISA – 2003 RESULTS Performance ( million) % PrisaMarket

6 6 BOOK SALES Excluding exchange rate effect +8.5% Number of books sold in 2003 GRUPO PRISA – 2003 RESULTS Performance ( million) million ,413, % 63,863, %

7 7 EPS AS 176, , ,226 EL PAÍS , % +13.3% 5 DÍAS ,621 25, % , , % NEWSPAPER SALES Average daily circulation (copies) GRUPO PRISA – 2003 RESULTS Performance ( million) % REGIONAL PRESS 26,893 30, %

8 8 Revenues 2003: 1,305 million Peru: 2.3% Chile: 1.8% Argentina: 1.5% Venezuela: 0.5% Peru: 2.5% Argentina: 1.9% Chile: 1.7% Venezuela: 0.8% REVENUE BREAKDOWN BY COUNTRY Revenues 2002: 1,216 million Mexico 7% Spain 80% Colombia 2.8% Brazil 3% Mexico 6% Spain 77% Colombia 2.9% Brazil 4% Other 13% Other 11% GRUPO PRISA – 2003 RESULTS

9 9 EL PAIS GDM PRISA & OTHERS EBIT RADIO LOCAL TV 136 SANTILLANA GDM DISTRIBUTIÓN LEASSURE & ENTERT. INTERNET -4 EL PAÍS PRINTING SPEC.& REGIONAL PRESS 0.5 INTERNATIONAL MEDIA EBIT Breakdown by business unit GRUPO PRISA – 2003 RESULTS Performance ( million) million +13.9%

10 10 Peru: 1.5% Chile: 0.8% Argentina: 0.1% Venezuela: 1.3% Peru: 0.9% Argentina: -1.1% Chile: 0.6% Venezuela: 0.6% EBIT BREAKDOWN BY COUNTRY Mexico 9.6% Spain 79.4% Colombia 3.9% Brazil 1.3% Mexico 12.4% Spain 75.5% Colombia 5.7% Brazil 2.9% Other 2.5% Other 2.1% EBIT 2003: 136 MillionEBIT 2002: 119 Million GRUPO PRISA – 2003 RESULTS

11 11 EBIT Financial result Equity method Goodwill amortization Extraordinary result Net profit Profit before taxes EBIT – NET PROFIT GRUPO PRISA – 2003 RESULTS ( Million) -23 Taxes 86 Minority Interest %

12 12 INVESTMENTS ( million) Capex Publishing37 Printing16 El País11 Leas. & Entertainment 8 Radio 4 Other 18 Financial Investments Participating loan to Sogecable 50 Stake increase in Sogecable 93 Other 5 TOTAL 148 TOTAL 94 Total Investments: 242 GRUPO PRISA – 2003 RESULTS

13 13 CASH FLOW EBIT 136 Depreciation & Amortiz. 78 Change in Working Capital (14) Capex (94) Operating cash flow 106 Financial result 5 Extraordinary result (2) Dividends (20) Taxes (23) NET DEBT CHANGE Net debt ( Million) 436 GRUPO PRISA – 2003 RESULTS Financial Investments (148) Other Excluding the issue of the bonds to be exchanged by treasury stock (162 M)

14 14 GRUPO PRISA – 2003 RESULTS Structure Ratios 2003 TOTAL NET DEBT: 516 MilIion L/T S/T $ 81% 19% 72% 28% TERM CURRENCY Net Debt /EBITDA: 2.3x Average cost of the debt: 2.5% Net debt */ EBITDA: 1.6x Net debt/Equity: 78% Net debt*/ Equity: 54% * Excluding the issue of the bonds be exchanged by treasury stock (162 M) DEBT AND RATIOS

15 15 GRUPO PRISA – 2003 RESULTS GRUPO PRISA: 2003 PERFORMANCE AND FUTURE PROSPECTS Organization and adjustment period already finished Well positioned to maximize the opportunities of growth 2004: Advertising recovery Circulation improvement Latam, positive performance Two digit growth at EBIT level Investment at Sogecable Prisacom

16 16 GRUPO PRISA – 2003 RESULTS With organic growth, the Group in the next five years: More than double the EBIT (in 2007) CAGR of the ROA of 17% Reach an EBIT Margin above 17% GRUPO PRISA: 2003 PERFORMANCE AND FUTURE PROSPECTS


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