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February 21st, 2003 2002 ANNUAL RESULTS 2003 FIRST QUARTER RESULTS 14th of May.

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Presentation on theme: "February 21st, 2003 2002 ANNUAL RESULTS 2003 FIRST QUARTER RESULTS 14th of May."— Presentation transcript:

1 February 21st, ANNUAL RESULTS 2003 FIRST QUARTER RESULTS 14th of May

2 Revenues EBITDA EBIT Net Profit 1Q 2002 % change ( million) % 8.1% 8.7 (82.0) 0.4 (8.7) % EBITDA Margin EBIT Margin 1Q % 14.3% FINANCIAL HIGHLIGHTS FINANCIAL HIGHLIGHTS % Operating expenses P&L ACCOUNT Net Profit before taxes

3 Q 20021Q 2003 AdvertisingNewspaper sales Book sales Other +4% +16% -12% +52% REVENUE SOURCES PERFORMANCE IN 1Q 2003 (YoY change) PERFORMANCE FINANCIAL HIGHLIGHTS FINANCIAL HIGHLIGHTS REVENUES ( million) +8.7%

4 ADVERTISING 304 million 279 million 1Q Q 2002 FINANCIAL HIGHLIGHTS FINANCIAL HIGHLIGHTS BOOK & RIGHTS OTHER NEWSPAPERS & MAGAZINES REVENUE BREAKDOWN BY BUSINESS LINE

5 NATIONAL PRESSRADIOSPORT PRESS -8.5% -0.3% SECTOR PRISA -1.0% +2.4% SECTOR PRISA +13.2% +21.3% SECTOR PRISA -6.8% +5.3% SECTOR PRISA FINANCIAL PRESSREGIONAL PRESSTV -2.1% +62.5% SECTOR PRISA +15.4% +48.0% SECTOR PRISA FINANCIAL HIGHLIGHTS FINANCIAL HIGHLIGHTS ADVERTISING PERFORMANCE: PRISA VERSUS SECTOR

6 EL PAIS5 DIASAS 1Q Q 2003 REGIONAL PRESSCINEMANIAROLLING STONE FINANCIAL HIGHLIGHTS FINANCIAL HIGHLIGHTS CIRCULATION PERFORMANCE 1Q Q , , % -2.5% +24.8% %+24.1% 26,390 25,733 28,959 71,092 1Q Q , , % 30,284 37,783 45,664 36,802

7 1Q 2003 SPAIN 75% 1Q million279 million INTERNATIONAL REVENUES IN 1Q 2003 INTERNATIONAL 25% Santillana: 78% International Media: 14% Printing: 8% FINANCIAL HIGHLIGHTS FINANCIAL HIGHLIGHTS SPAIN 68% INTERNATIONAL 32% REVENUE BREAKDOWN BY GEOGRAFIC AREA

8 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 (mn) INTERNA- TIONAL MEDIA -2 FINANCIAL HIGHLIGHTS FINANCIAL HIGHLIGHTS EBIT BREAKDOWN BY BUSINESS DIVISION

9 Publishing: El País: Printing: Radio: Total Prisa Leisure & Entertainment: FINANCIAL HIGHLIGHTS FINANCIAL HIGHLIGHTS FOCUSED ON INVESTMENTS RATIONALIZATION Others 0.6 INVESTMENTS 1Q 2003 ( million) International Media: 0.5

10 FINANCIAL HIGHLIGHTS FINANCIAL HIGHLIGHTS TERMS CURRENCIES Net debt/Equity: 70.7% Total liabilities/Equity: 1.31x LEVERAGE RATIOS S/T DEBT: 34% L/T DEBT: 66%DOLLARS: 35% EUROS: 65% DEBT STRUCTURE 1Q 2003

11 FINANCIAL HIGHLIGHTS FINANCIAL HIGHLIGHTS EBIT: DEPRECIATION & AMORTIZATION: WORKING CAPITAL CHANGE: INVESTMENTS FREE CASH FLOW: TAXES: FINANCIAL RESULT: EXTRAORDINARY RESULT: OTHER: NET DEBT CHANGE: NET DEBT 20021Q (19.6) (4.5) 2.7 (5.5) CASH FLOW 1Q (19.3)

12 Revenues EBITDA EBIT EBIT Margin % 18.6% ( million) 1Q 2002 % change % change % 1Q Operating expenses BUSINESS DIVISIONS BUSINESS DIVISIONS EL PAÍS MAIN FIGURES

13 Advertising Revenues Growth Trend BUSINESS DIVISIONS BUSINESS DIVISIONS 37 ( mm) EL PAÍS ADVERTISING REVENUES Advertising revenues flat performance despite advertising market sluggishness El País versus national press market -8.5% -0.3% MARKETEL PAÍS -0.3%

14 Daily Average Circulation (copies) Weekend Average Circulation (copies) BUSINESS DIVISIONS BUSINESS DIVISIONS 495, ,943 1Q20021Q2003 EL PAÍS CIRCULATION TREND 874, ,288 1Q20021Q % +12.2%

15 Including A3 Radio Revenues EBITDA EBIT EBIT Margin ( million) 1Q 2002 % change 2.4 EBIT EBIT Margin 16.1% % 7 5 1Q % Revenues % BUSINESS DIVISIONS BUSINESS DIVISIONS Operating Expenses RADIO MAIN FIGURES

16 Advertising Revenues Growth Trend BUSINESS DIVISIONS BUSINESS DIVISIONS ( mm) RADIO ADVERTISING REVENUES Prisa versus radio market -1% +2.4% MARKET PRISA +2.4%

17 COPE 16% GRUPO SER 46% RNE 17% ONDA CERO 21% GRUPO SER 69% RNE 5% ONDA CERO 16% COPE 10% Conventional format market share ( 2003 First wave EGM) Music format market share (2003 First wave EGM) BUSINESS DIVISIONS BUSINESS DIVISIONS RADIO

18 % BUSINESS DIVISIONS BUSINESS DIVISIONS 1Q 2002 % change 1Q 2003 Revenues EBIT EBIT Margin 14 ( million ) (12.7) % (35.7) EBITDA 1521 (27.3) Operating expenses 6772(8.1) EDUCATION & GENERAL EDITIONS MAIN FIGURES Revenues EBIT 1Q Q Excluding depreciation impact % change %

19 1Q 2003 AMERICA 78% 1Q million 87 million SPAIN & PORTUGAL 22% FINANCIAL HIGHLIGHTS FINANCIAL HIGHLIGHTS AMERICA 86% SPAIN & PORTUGAL 14% SANTILLANA REVENUE BREAKDOWN BY GEOGRAFIC AREA

20 1Q 2002 % change 1Q 2003 Revenues EBIT EBIT Margin 23 (3) (11.5%) ( million ) (1) (3.2%) 64.9 EBITDA 0 (2) 87.8 BUSINESS DIVISIONS BUSINESS DIVISIONS Operating expenses SPECIALISED PRESS MAIN FIGURES

21 BUSINESS DIVISIONS BUSINESS DIVISIONS 1Q 2002 % change 1Q 2003 Revenues EBIT Margin % ( million ) % EBIT EBITDA DIARIO AS MAIN FIGURES 1Q Q , ,762 Circulation figures +33.8% 1Q Q % Advertising growth

22 BUSINESS DIVISIONS BUSINESS DIVISIONS 1Q 2002 % change 1Q 2003 Revenues EBIT Margin 3.9 (17.7)% ( million ) (11.8)% EBIT (0.5) (0.7) 25.5 EBITDA (0.4)(0.6) 31.4 CINCO DÍAS MAIN FIGURES 1Q Q ,390 25,733 Circulation figures 1Q Q % Advertising growth -2.5%

23 BUSINESS DIVISIONS BUSINESS DIVISIONS 1Q 2002 % change 1Q 2003 Revenues EBIT Margin 3.2 (46.7)% ( million ) (8.2)% EBIT (0.4) (1.5) 73.8 EBITDA (0.3)(1.4) 80.9 REGIONAL PRESS MAIN FIGURES 1Q Q ,284 37,783 Circulation figures +24.8% 1Q Q % Advertising growth

24 PRISACOM: substantial improvement at EBIT level as a result of cost-cutting initiatives BUSINESS DIVISIONS BUSINESS DIVISIONS LEISURE & ENTERTAINMENT: Significant increase of music sales despite piracy OTHER BUSINESS DIVISIONS INTERNATIONAL MEDIA: Continues its consolidation and increases revenues by 32.7% due to Caracol contribution LOCAL TV´S: Continues to consolidate within the TV industry


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