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February 21st, 2003 2002 ANNUAL RESULTS 2003 FIRST HALF RESULTS 23rd of July.

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Presentation on theme: "February 21st, 2003 2002 ANNUAL RESULTS 2003 FIRST HALF RESULTS 23rd of July."— Presentation transcript:

1 February 21st, ANNUAL RESULTS 2003 FIRST HALF RESULTS 23rd of July

2 Revenues EBITDA EBIT Net Profit 1H 2002 % change ( million) % 9.9% 8.3 (49.1) % EBITDA Margin EBIT Margin 1H % 16.2% FINANCIAL HIGHLIGHTS FINANCIAL HIGHLIGHTS % Operating expenses P&L ACCOUNT Net Profit before taxes

3 H 20021H 2003 AdvertisingNewspaper sales Book sales Other +5.2% +7% -10.6% +49.2% REVENUE SOURCES PERFORMANCE IN 1H 2003 (YoY change) PERFORMANCE FINANCIAL HIGHLIGHTS FINANCIAL HIGHLIGHTS REVENUES ( million) + 8.3%

4 Advertising Revenues 1H 2003 BUSINESS DIVISIONS BUSINESS DIVISIONS ( mm) ADVERTISING PERFORMANCE Prisa versus Market (like for like figures) -0.7% +0.3% MARKET(*) PRISA +5.2% (*) Internal estimations

5 1H 2003 SPAIN 78% 1H million599 million INTERNATIONAL REVENUES IN 1H 2003 INTERNATIONAL 22% Santillana: 74% International Media: 16% Printing: 10% FINANCIAL HIGHLIGHTS FINANCIAL HIGHLIGHTS SPAIN 73% INTERNATIONAL 27% REVENUE BREAKDOWN BY GEOGRAFIC AREA

6 EL PAIS PUBLISHING SPANISH RADIO PRINTING GDM PRISA & OTHERS INTERNET LOCAL TV SPANISH PRESS LEISURE & ENTERTAIN- MENT mn 21 mn 1 -2 TOTAL EBIT NEW BUSINESS DIVISIONS INTERNA- TIONAL MEDIA -2 FINANCIAL HIGHLIGHTS FINANCIAL HIGHLIGHTS EBIT EBIT BREAKDOWN BY BUSINESS DIVISION (MN) 1H 2003 TOTAL EBIT RADIO LOCAL TV 65 PUBLISHING GDM SPEC. & REGIONAL PRESS 3 -2 INTERNATIONAL MEDIA 1 PRISA & OTHERS -4 LEISSURE & ENTERTAINMENT INTERNET -5 EL PAIS PRINTING H 20021H 2003 EBIT PERFORMANCE (MN) %

7 Publishing: Printing: Lesure & Enterteinment Total Radio El País: FINANCIAL HIGHLIGHTS FINANCIAL HIGHLIGHTS INVESTMENTS 1H 2003 ( million) Others: 6.95

8 FINANCIAL HIGHLIGHTS FINANCIAL HIGHLIGHTS TERMS CURRENCIES Net debt/Market cap: 28.3% LEVERAGE RATIOS S/T DEBT: 34% L/T DEBT: 66%DOLLARS: 34% EUROS:66 % DEBT STRUCTURE 1H 2003

9 FINANCIAL HIGHLIGHTS FINANCIAL HIGHLIGHTS EBIT: DEPRECIATION & AMORTIZATION: WORKING CAPITAL CHANGE: INVESTMENTS FREE CASH FLOW: TAXES: FINANCIAL RESULT: EXTRAORDINARY RESULT: DIVIDENS OTHER: NET DEBT CHANGE : NET DEBT 20021H (74) (19) 1 (3) 8 (21) CASH FLOW (149) 24 7 (17) 4 (113) H031H02 (19)

10 Revenues EBITDA EBIT EBIT Margin % 23.8% ( million) 1H 2002 % change % change % 1H Operating expenses (3.9) BUSINESS DIVISIONS BUSINESS DIVISIONS EL PAÍS MAIN FIGURES

11 Advertising Revenues BUSINESS DIVISIONS BUSINESS DIVISIONS 8784 ( mm) EL PAÍS ADVERTISING REVENUES El País versus national press market -10% -3.9% MARKETEL PAÍS -3.9%

12 Daily Average Circulation (copies) Weekend Average Circulation (copies) BUSINESS DIVISIONS BUSINESS DIVISIONS 468, ,602 1H 20021H 2003 EL PAÍS CIRCULATION TREND 828, ,217 1H 20021H % +12.7%

13 Including A3 Radio Revenues EBITDA EBIT EBIT Margin ( million) 1H 2002 % change 3.8 EBIT EBIT Margin 29% % H % Revenues % BUSINESS DIVISIONS BUSINESS DIVISIONS Operating Expenses RADIO MAIN FIGURES

14 COPE 19% GRUPO SER 57% ONDA CERO 24% GRUPO SER 67% OTHERS 5% ONDA CERO 17% COPE 11% Conventional format market share (2003 Second wave EGM) Music format market share (2003 Second wave EGM) BUSINESS DIVISIONS BUSINESS DIVISIONS RADIO

15 % BUSINESS DIVISIONS BUSINESS DIVISIONS 1H 2002 % change 1H 2003 Revenues EBIT EBIT Margin 19 ( million ) (10.7) % (34.7) EBITDA 2834 (19.1) Operating expenses (7.6) EDUCATION & GENERAL EDITIONS MAIN FIGURES Revenues EBIT 1H H Excluding depreciation impact % change %

16 1H 2003 BRAZIL 13% 1H million 167 million SPAIN & PORTUGAL 31% BUSINESS DIVISIONS BUSINESS DIVISIONS SANTILLANA REVENUE BREAKDOWN BY GEOGRAFIC AREA MEXICO 25% OTHER LATAM 31% BRAZIL 19% SPAIN & PORTUGAL 23% MEXICO 24% OTHER LATAM 34%

17 BUSINESS DIVISIONS BUSINESS DIVISIONS 1H 2002 % change 1H 2003 Revenues EBIT Margin 53 (3.6)% ( million ) % EBIT 1 (2) - EBITDA 3(0.4) - SPECIALISED PRESS MAIN FIGURES 1H H 2003 Mm As Regional Press STRONG EBIT IMPROVEMENT: STRONG EBIT IMPROVEMENT: 1H H % %

18 BUSINESS DIVISIONS BUSINESS DIVISIONS 1H 2002 % change 1H 2003 Revenues EBIT Margin % ( million ) % EBIT EBITDA DIARIO AS MAIN FIGURES 1H H , ,274 Circulation figures +23.7% 1H H % Advertising growth Mm Copies

19 BUSINESS DIVISIONS BUSINESS DIVISIONS 1H 2002 % change 1H 2003 Revenues EBIT Margin 14 (27.4)% ( million ) (7.9)% EBIT (1.8) (3.9) - EBITDA 0.4(2.3) - INTERNATIONAL MEDIA MAIN FIGURES Revenues by business line Ebit by business line Caracol Radiópolis Participaciones Radio Bolivia Caracol Radiópolis Participaciones Radio Bolivia

20 PRISACOM: improvement at EBIT level as a result of a remarkable growth in revenues coming from telephony companies as well as notable cost-cutting initiatives BUSINESS DIVISIONS BUSINESS DIVISIONS OTHER BUSINESS DIVISIONS LOCAL TV: Substantial operating improvement due to the excellent performance of local advertising revenues and the remarkable increase of programming sales


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