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8/2/2019 CME - hodnocen 1. tvrtlet 2012, zprva pro investory
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Q1 2012 EARNINGS CALL PRESENTATION
On the path to deleveraging
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CME Management attending the call
2
President andChief ExecutiveOfficer
Adrian Srbu
Chief FinancialOfficer
David Sach
Executive VicePresident,StrategicPlanning and
Operations
Anthony Chhoy
General Counsel
Daniel Penn
Vice PresidentCorporateCommunications
Romana Wyllie
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On the path to deleveraging
We started 2012 with a major task: deleveraging. The transaction announced on Monday puts us on a firm path to achieve this goal.
In the coming weeks we are targeting a decrease in our leverage ratio to below 5xNet Debt/OIBDA and a significant reduction in our cash interest cost.
We will use the most efficient means to do this, whether through debt purchases,debt conversions, equity issuances or a combination of these.
In that respect we can use the credit facility with Time Warner to purchase up to$300 million of debt.
The amount to be drawn will be contingent on the acceptance of the prices we haveoffered to debt holders.
We intend to conduct private and public equity offerings, on acceptable terms, toobtain sufficient funds to achieve our goals, including the repayment of any amountsdrawn under the Time Warner credit facility.
Following these transactions, Time Warner will hold at least 40% share on a dilutedbasis.
4
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Summary of transactions with Time Warner and Ronald Lauder
CME has launched tenders for its 2013 Convertible Notes and its 2014 Floating Rate Notes and 2016 FixedRate Notes.
Time Warner (TW) has agreed to provide CME a credit facility of up to $300 million for purposes ofrepurchasing Notes that CME accepts for payment in these tenders.
TW and Ronald Lauder (RSL) have agreed to purchase an aggregate of approximately 11.5 million of CMEs
Class A shares at a price per share of $7.51, which is the 20-day volume weighted price to the signing date.TW will purchase Class A shares in order to increase its ownership in CME to 40% on diluted basis, and atleast 9.5 million shares. RSL will purchase 2 million Class A shares.
All Class B shares will convert to Class A shares in connection with these subscriptions.
We can repay the TW Loans with proceeds from these subscriptions as well as other public or private
issuances of equity. Because our borrowing costs do not increase for the first six months after drawing theTW loans, we have a period of time to evaluate what is the best option for the Company.
If any amounts under the Time Warner loan facility remain outstanding 180 days after drawing, we also havethe option to sell to Time Warner, and Time Warner has the right to acquire from us, shares to repay suchoutstanding amounts, up to a maximum ownership interest of 49.9% by Time Warner. These commitments
are intended to enable CME to pursue its strategy of reducing its existing indebtedness on acceptable terms.
5
Improve maturity profile by repaying 2013 Convertible Notes Reduce Net Debt / OIBDA ratio from 7x to 5x Reduce annual cash interest cost from 2013 onwards by close to US$20 million
Maintain liquidity at over $200m Position CME for future growth
Benefits:
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Q1 2012: Soft TV ad markets, new revenue streams
6
Q1 ad marketsdown by 5%1
Q1 ad marketsdown by 5%1
We maintained our strong audience and marketshare leadership positions
Voyo SVOD was launched in all six countries
55,000 Voyo subscribers
Positive OIBDA
1
Note:: CME estimate
Our consolidated revenues increased by 3% andOIBDA by 9% in constant currency
Our consolidated revenues increased by 3% andOIBDA by 9% in constant currency
Voyo is the new growth story in our markets and the response of the audience confirms itspotential
Voyo is the new growth story in our markets and the response of the audience confirms itspotential
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2%
2%
4%
8%
3%
3%
3%
5%4%
5%
3%
2%2%
2% 3%2%
2%
1%
0%
2%
4%
6%
8%
Q1 2011 Q4 2011 Q1 2012F
Macroeconomic indicators Q1 2012
7
Real Private ConsumptionYear-over-Year Change Rate, % CME Q1 2012F Average: 0.0%
(0)%(1)% (1)%
(1)%
3%
2%
(0)% (0)% (1)%
(3)%
(2)%
(1)%
0%
(2)%(2)%
(0)% (0)% (0)%
(4)%
(2)%
0%
2%
4%
Q1 2011 Q4 2011 Q1 2012F
CME Q1 2011 Average:
Source: Eurostat, 2012 CME estimates based on CME consensus (ING, SG, BNP, Citi, Erste, KBC, UniCredit, IMF, CzechNational Bank, Czech Ministry of Finance, National Commission for Economic Forecasting of Romania, Raiffeisen Bank)
Source: CME internal estimates at constant currency exchange rates
Source: Eurostat, 2012 CME estimates based on CME consensus (ING, SG, UniCredit, Erste, Czech Ministry of Finance,Raiffeisen Bank) Source: National Statistical Offices
Czech Republic Romania* Slovak Republic SloveniaBulgaria Croatia
Real GDPYear-over-Year Change Rate, % CME Q1 2012F Average: 0.3%
Total TV Ad Market (nominal)Year-over-Year Change Rate, % CME Q1 2012 Average: (5)%
Consumer Price IndexAverage Year-over-Year Change Rate, % CME Q1 2012F Average: 2.9%
3%
0%
(0)%
2% 2% 2%
3% 3%
2%2%
0%0%
2%
(3)% (3)%
(1)%
(0)%(1)%
(4)%
(3)%
(2)%
(1)%
0%
1%
2%
3%
4%
Q1 2011 Q4 2011 Q1 2012F
5%3%
(4)%
2% 2%
(11)%
2%
7%6%
(4)%(3)% (3)%
6%
10%
0%
(5)%
1%
(12)%
(16)%
(8)%
0%
8%
16%
Q1 2011 Q4 2011 Q1 2012
Note: Consensus analyst forecasts and estimates are subject to change and comparative data maydiffer from those previously published* Romania market excludes Moldova
CME Total
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Q1 2012 financials: Consolidated operations
8
$172.8 $167.4
0
100
200
Q1 2011 Q1 2012
$172.8 $163.3 $167.4$5.7 $1.2
$(9.5) $(2.2) $(0.6)
0
100
200
Q1 2011 @2011 rates
FX Q1 2011 @2012 rates
Broadcast MPE New Media Eliminations Q1 2012 @2012 rates
$158.6 $153.3
0
100
200
Q1 2011 Q1 2012
$158.6 $150.4 $153.3$4.7 $1.1
$(8.2) $(0.7) $(0.8) $(1.4)
0
100
200
Q1 2011 @Q1 2011 rates
FX Q1 2011 @2012 rates
Broadcast MPE New Media Eliminations Central Q1 2012 @2012 rates
$14.2 $14.1
0
10
20
Q1 2011 Q1 2012
$14.2$12.9
$14.1
$1.0 $0.1 $0.2$1.4
$(1.3)
$(1.5)
0
10
20
Q1 2011 @2011 rates
FX Q1 2011 @2012 rates
Broadcast MPE New Media Eliminations Central Q1 2012 @2012 rates
Revenues
Costs
OIBDA
US$ m US$ m
US$ m US$ m
US$ m US$ m
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Maintained strong audience share leadership withoutstanding performance of main news and local fictionseries
Increased market share by 6 pts to 55%
Sold over 50% of commercial GRPs on the market
CroatiaCroatia
49%55%
MarketsharePTaudienceshare
33% 35%
Q1
11Q1
12Q1
11Q1
12
Maintained undisputed audience share leadership withcontinued outstanding success of main news & localreality and entertainment
Increased market share by 2 pts to 80%
Sold almost 80% of commercial GRPs on the market
SloveniaSlovenia
78%80%
MarketsharePT
audienceshare
48%50%
Q1
11Q1
12Q1
11Q1
12
Maintained strong audience and market shareleadership with robust performance of main news andlocal fiction series
Market share declined by 2 pts as a result of pricingstrategy not to discount at level of competitors in the lowseason
Sold almost 55% of commercial GRPs on the market
Q1 2012 Broadcast Highlights
9
Maintained audience share leadership with strong
performance of local reality and entertainment showsand Doma channel.
Market share declined by 4 pts as a result of lowerprogramming investment and reduced GRP generationin the low season
Sold over 50% of the commercial GRPs on the market
Maintained strong audience share leadership withrobust performance of main news and local reality andentertainment shows
Increased market share by 3pts to 61%
Sold over 40% of commercial GRPs on the market
Increased overall market share leadership by one percentage point to 65%Increased overall market share leadership by one percentage point to 65%
68%66%
MarketsharePT
audienceshare
Q111
Q112
42% 40%
Czech RepublicCzech Republic
RomaniaRomania
Slovak RepublicSlovak Republic
69%65%
Market
share
PT
audienceshare
40%36%
58%
61%
Marketshare*
PTaudienceshare*
32% 30%
NB: TV ad market share represents CMEs share of the net spot and sponsorship revenues including the proportion of product placement revenues in MPE ; Audience share results in main channel sales target group;* PT audience share and market share excludes PRO TV Chisinau Moldova
Q111
Q112
Q1
11Q1
12
Q1
11Q1
12
Q1
11Q1
12
Q1
11Q1
12
Maintained undisputed audience leadership in themarket with strong performance of main news, localfiction series, local reality and entertainment and launchof bTV Lady
Increased market share by 1 pt to 66%
Sold over 50% of commercial GRPs on the market
BulgariaBulgaria
66%
Marketshare
PTaudienceshare
48%51%
65%
Q111
Q112
Q111
Q112
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Q1 2012 financials : Broadcast
10
$157.5$146.8
0
100
200
Q1 2011 Q1 2012
$157.5 $149.0 $146.8$0.3 $0.3 $0.5 $0.0
$(8.5)$(2.5)
$(0.8)
0
100
200
Q1 2011 @2011 rates
FX Q1 2011 @2012 rates
CzechRepublic
Romania SlovakRepublic
Bulgaria Slovenia Croatia Q1 2012 @2012 rates
$131.4 $123.9
0
100
200
Q1 2011 Q1 2012
$131.4 $124.6$123.9$0.4 $1.5 $0.8 $1.0
$(6.8) $(1.4) $(1.7) $(1.3)
0
100
200
Q1 2011 @2011 rates
FX Q1 2011 @2012 rates
CzechRepublic
Romania SlovakRepublic
Bulgaria Slovenia Croatia DivisionalQ1 2012 @2012 rates
$26.1$22.9
0
10
20
30
Q1 2011 Q1 2012
$26.1$24.4
$22.9$2.0 $1.3$(1.7)
$(1.1) $(1.2) $(1.2) $(0.3) $(1.0)
0
10
20
30
Q1 2011 @2011 rates
FX Q1 2011 @2012 rates
CzechRepublic
Romania SlovakRepublic
Bulgaria Slovenia Croatia DivisionalQ1 2012 @2012 rates
Revenues
Costs
OIBDA
US$ m US$ m
US$ m US$ m
US$ m US$ m
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11
Q1 2012 Media Pro Entertainment Highlights
1Share represents average audience share achieved in Q1 2012*Source: internal estimates.**Source::internal estimates.
TV series with outstanding performance
Successfully produced and launched the movie Sunday League, with over 300,000admissions to-date. The opening weekend was second best ever for a local movie in Czech
Republic. Theatrical distribution leadership in Romania with 32% market share.
In the Czech Republic and Slovakia: 32% market share. *
Home video distribution leadership in Romania (62% market share), Czech Republicand Slovakia (42% market share). **
DistributionThird Party Revenues (US$ m)
Strong content continues to deliver audience share while focusing on 3rd party revenues.
Fiction
277hourssold
Rose Garden Medical (CZ)Drama Series
Laras Choice (HR)Telenovela
Home Wars (BG)Sitcom
40.4% share140.4% share143.1% share143.1% share1
Las Fierbinti (RO)Comedy series
23.7% share123.7% share1
Only Love(SK)Telenovela
17.7% share1
(On Doma)
17.7% share1
(On Doma)
44.6% share144.6% share1
Reality &Entertainment
351hourssold
Got Talent (RO)Talent show
51.8% share151.8% share1
The Voice (CZ, SK)Talent show
CZ: 40.2% share1
SK: 39.0% share1CZ: 40.2% share1
SK: 39.0% share1
The Farm (SK)Reality show
32.8% share132.8% share1
Wife Swap (CZ, SK)Reality show
CZ: 39.2% share1
SK: 29.3% share1CZ: 39.2% share1
SK: 29.3% share1
Masterchef (RO)Talent show
26.0% share126.0% share1
Q1 2011 Q1 2012
12.8
17.5
TV reality and entertainment shows delivering record prime time audience share
Helena (CZ)Sitcom
37.2% share137.2% share1
X Factor (SI)Talent show
54.6% share154.6% share1
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Q1 2012 financials: Media Pro Entertainment
12
$40.2$43.4
0
20
40
60
Q1 2011 Q1 2012
$40.2 $37.7$43.4$5.7
$(2.5)
0
20
40
60
Q1 2011 @2011 rates
FX Q1 2011 @2012 rates
Operations Q1 2012 @2012 rates
$39.5 $41.7
0
20
40
60
Q1 2011 Q1 2012
$39.5 $37.1 $41.7$4.6
$(2.4)
0.00
20.00
40.00
60.00
Q1 2011 @2011 rates
FX Q1 2011 @2012 rates
Operations Q1 2012 @2012 rates
$0.7
$1.7
0.0
1.0
2.0
Q1 2011 Q1 2012
$0.7 $0.6
$1.7$1.1
$(0.1)
0.0
1.0
2.0
Q1 2011 @2011 rates
FX Q1 2011 @2012 rates
Operations Q1 2012 @2012 rates
Revenues
Cos
ts
OIBDA
US$ m US$ m
US$ m US$ m
US$ m US$ m
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Q1 2012 New Media Highlights
13
Voyo is growing into the leading digital distribution platform in CEE
Completed SVOD roll-out in all CME territories with 55,000 subscribers at
the end of Q1
We are focused on rapidly growing the number of subscribers
Over 1,000 library titles available in the Czech Republic, Slovak Republic
and Slovenia and over 500 in Romania, Croatia and Bulgaria
Voyo is currently available on PC, tablets, internet connected TV
Voyo reached 1.7 m visitors, driven by strong local content and sport
Completed SVOD roll-out in all CME territories with 55,000 subscribers at
the end of Q1
We are focused on rapidly growing the number of subscribers
Over 1,000 library titles available in the Czech Republic, Slovak Republic
and Slovenia and over 500 in Romania, Croatia and Bulgaria
Voyo is currently available on PC, tablets, internet connected TV
Voyo reached 1.7 m visitors, driven by strong local content and sport 20,000
30,000
40,000
50,000
60,000
December 2011 January 2012 February 2012 March 2012
Subscribers
Website traffic up by 17% year on year to 12.4 m visitors contributing to advertising revenue growth of 15% in a marketthat grew by 6%
Website traffic up by 17% year on year to 12.4 m visitors contributing to advertising revenue growth of 15% in a marketthat grew by 6%
Achieved No. 1 position in Romania driven by news (60% y/y growth) and
sports portal (31% y/y growth)
Launched news portal in Bulgaria and one thematic portal in Romania
Launched deal-of-the-day portal in Croatia to increase non-ad revenues
Achieved No. 1 position in Romania driven by news (60% y/y growth) and
sports portal (31% y/y growth)
Launched news portal in Bulgaria and one thematic portal in Romania
Launched deal-of-the-day portal in Croatia to increase non-ad revenues1,500,000
1,700,000
1,900,000
2,100,000
2,300,000
2,500,000
December January February March
Average Daily UV 2012 Average Daily UV 2011
Average daily traffic
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Q1 2012 financials: New Media
14
$2.6 $2.6
$1.1
0
1
2
3
4
Q1 2011 Q1 2012
$2.6 $2.5
$2.6
$1.1
$1.2
$(0.1)
0
1
2
3
4
Q1 2011 @2011 rates
FX Q1 2011 @2012 rates
Operations Q1 2012 @2012 rates
$4.2 $4.0
$1.1
0
2
4
6
Q1 2011 Q1 2012
$4.2$4.0
$4.0
$1.1
$1.1
$(0.2)
0
2
4
6
Q1 2011 @2011 rates
FX Q1 2011 @2012 rates
Operations Q1 2012 @2012 rates
$(1.6)$(1.4)
(2)
(1)
0
Q1 2011 Q1 2012
$(1.6)$(1.5)
$(1.4)
$0.1$0.1
(2)
(1)
0
Q1 2011 @2011 rates
FX Q1 2011 @2012 rates
Operations Q1 2012 @2012 rates
Revenues
Cos
ts
OIBDA
US$ m US$ m
US$ m US$ m
US$ m US$ m
Part attributable to Voyo
$3.7 $3.7
$5.1 $5.1
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Debt maturity profile and free cash flow
151At March 31, 2012 exchange rates.
Current liquidity: US$ 214m
Free cash flow impacted by advance collection planin Q1 2011 which was not repeated in Q1 2012
130198
500
227238
302
0
100
200
300
400
500
600
2012 2013 2014 2015 2016 2017
US$ m Maturity profile as at March 31, 2012 1
Senior debt and RCF $1,397m
2017 Fixed Rate Notes2016 Fixed Rate Notes2015 Convertible Notes2014 Floating Rate Notes2013 Convertible Notes Revolving credit facility (RCF)
Components of free cash flow Q1 2012US$ m
Q1 2011US$ m
VarianceUS$ m
OIBDA 14 14 -
Working capital 39 89 (50)
Capex (7) (6) (1)
Interest, taxes, programming andother
(86) (72) (14)
Total (40) 25 (65)
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2012: Path to growth
1616
We are comfortable with current analyst expectations for 2012 OIBDA
and we target positive free cash flow.
We built a strong business model that will enable us to outperform the markets and grow.
Our focus in broadcasting is to strengthen our audience and market leadership while
maintaining our cost discipline.
We have a strong content engine with multiple distribution platforms in each country ofoperation and we will further diversify revenues from advertising to paid and subscriptionwindows.
We will continue to grow revenues from third parties in Media Pro Entertainment.
We aim to expand Voyo into the leading digital distribution platform in our region.
2012 is expected to be a challenging year and uncertainties in Europe may impact privateconsumption and advertisers behavior in our markets.
GDP is expected to be flat across our markets which may lead to a slight decline in TV
advertising spending in 2012.
2012 Outlook
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Appendix
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Prime time audience share trends 15-54Prime time audience share trends 15-54
Czech Republic: Broadcast operations
0
10
20
30
40
50
60
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 1 3 5 7 9 11 13 15
CME Total Prima Total CT1 CT2 Others
Broadcast operationsThree months ended March 31
2012 2011 Growth %
Net revenues (CZK m) 972.5 1,020.6 (5)%
OIBDA (CZK m) 377.1 399.0 (5)%
Net revenues (US$ m) 51.7 57.7 (10)%
OIBDA (US$ m) 20.2 22.6 (11)%
OIBDA Margin % 39% 39%
The percentage growth and OIBDA margin figures have been derived from data included in our Form 10-Q for the period ended March 31, 2012.
Audienceshare
%
Week Source: ATO Mediaresearch
18
2011 2012
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CZECH REPUBLIC - BROADCAST OVERVIEW1.1.2011 - 31.3.2011 CZECH REPUBLIC - BROADCAST OVERVIEW1.1.2012 - 31.3.2012
Time Mon Tue Wed Thu Fri Sat Sun Time Mon Tue Wed Thu Fri Sat Sun
06:00 - 06:30 06:00 - 06:30
06:30 - 07:00 06:30 - 07:00
07:00 - 07:30 07:00 - 07:30
07:30 - 08:00 07:30 - 08:00
08:00 - 08:30 08:00 - 08:30
08:30 - 09:00 08:30 - 09:00
09:00 - 09:30 09:00 - 09:30
09:30 - 10:00 09:30 - 10:00
10:00 - 10:30 10:00 - 10:3010:30 - 11:00 10:30 - 11:00
11:00 - 11:30 11:00 - 11:30
11:30 - 12:00 11:30 - 12:00
12:00 - 12:30 12:00 - 12:30
12:30 - 13:00 12:30 - 13:00
13:00 - 13:30 13:00 - 13:30
13:30 - 14:00 13:30 - 14:00
14:00 - 14:30 14:00 - 14:30
14:30 - 15:00 14:30 - 15:00
15:00 - 15:30 15:00 - 15:30
15:30 - 16:00 15:30 - 16:00
16:00 - 16:30 16:00 - 16:30
16:30 - 17:00 16:30 - 17:00
17:00 - 17:30 17:00 - 17:30
17:30 - 18:00 17:30 - 18:00
18:00 - 18:30 18:00 - 18:30
18:30 - 19:00 18:30 - 19:00
19:00 - 19:30 19:00 - 19:30
19:30 - 20:00 19:30 - 20:00
20:00 - 20:30 20:00 - 20:30
20:30 - 21:00 20:30 - 21:00
21:00 - 21:30 21:00 - 21:30
21:30 - 22:00 21:30 - 22:00
22:00 - 22:30 22:00 - 22:30
22:30 - 23:00 22:30 - 23:00
23:00 - 23:30 23:00 - 23:30
23:30 - 24:00 23:30 - 24:00
Czech Republic: Broadcast operations
CMEGroup42%
PrimaGroup21%
CTGroup22%
Others15%
19
CMEGroup40%
PrimaGroup24%
CTGroup23%
Others13%
CMEGroup68%
PrimaGroup22%
CTGroup
7%
Others3%
CMEGroup66%
PrimaGroup27%
CTGroup
2%
Others5%
Q1 2011 PT Audience Share (%) Q1 2012 PT Audience Share (%)
Q1 2011 TV Ad Market Share (%) Q1 2012 TV Ad Market Share (%)
Source: ATO Mediaresearch (all audience share and leadership data is for the 15-54 target group) and CME estimates.TV ad market share represents CMEs share of the net spot and sponsorship revenues including the proportion of product placement revenues in MPE.
CME Group CT GroupPrima Group
Maintained strong leadership in the marketMaintained strong leadership in the market
Prime time 19:00-23:00
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Prime time audience share trends 18-49 Urban*Prime time audience share trends 18-49 Urban*
Romania: Broadcast operations
0
5
10
15
20
25
30
35
40
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 1 3 5 7 9 11 13 15
CME Total Intact Group Prima Group TVR 1 TVR 2 Realitatea Group Kanal D Others
The percentage growth and OIBDA margin figures have been derived from data included in our Form 10-Q for the period ended March 31, 2012* PT audience share excludes Pro Chisinau channel in Moldova.
Audienceshare
%
Week Source: Kantar Media
20
2011 2012
Broadcast operationsThree months ended March 31
2012 2011 Growth %
Net revenues (RON m) 102.1 104.8 (3)%
OIBDA (RON m) 6.1 10.2 (40)%
Net revenues (US$ m) 31.2 34.4 (9)%
OIBDA (US$ m) 1.9 3.4 (45)%
OIBDA Margin % 6% 10%
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ROMANIA - BROADCAST OVERVIEW1.1.2011 - 31.3.2011
ROMANIA - BROADCAST OVERVIEW1.1.2012 - 31.3.2012
Time Mon Tue Wed Thu Fri Sat Sun Time Mon Tue Wed Thu Fri Sat Sun
06:00 - 06:30 06:00 - 06:30
06:30 - 07:00 06:30 - 07:00
07:00 - 07:30 07:00 - 07:30
07:30 - 08:00 07:30 - 08:00
08:00 - 08:30 08:00 - 08:30
08:30 - 09:00 08:30 - 09:00
09:00 - 09:30 09:00 - 09:30
09:30 - 10:00 09:30 - 10:00
10:00 - 10:30 10:00 - 10:30
10:30 - 11:00 10:30 - 11:00
11:00 - 11:30 11:00 - 11:30
11:30 - 12:00 11:30 - 12:00
12:00 - 12:30 12:00 - 12:30
12:30 - 13:00 12:30 - 13:00
13:00 - 13:30 13:00 - 13:30
13:30 - 14:00 13:30 - 14:00
14:00 - 14:30 14:00 - 14:30
14:30 - 15:00 14:30 - 15:00
15:00 - 15:30 15:00 - 15:30
15:30 - 16:00 15:30 - 16:00
16:00 - 16:30 16:00 - 16:30
16:30 - 17:00 16:30 - 17:00
17:00 - 17:30 17:00 - 17:30
17:30 - 18:00 17:30 - 18:00
18:00 - 18:30 18:00 - 18:30
18:30 - 19:00 18:30 - 19:00
19:00 - 19:30 19:00 - 19:30
19:30 - 20:00 19:30 - 20:00
20:00 - 20:30 20:00 - 20:30
20:30 - 21:00 20:30 - 21:00
21:00 - 21:30 21:00 - 21:30
21:30 - 22:00 21:30 - 22:00
22:00 - 22:30 22:00 - 22:30
22:30 - 23:00 22:30 - 23:00
23:00 - 23:30 23:00 - 23:30
23:30 - 24:00 23:30 - 24:00
Romania: Broadcast operations*
CMEGroup32%
IntactGroup18%
PrimaGroup
7%
Kanal D6%
Others37%
21
CMEGroup30%
IntactGroup17%Prima
Group6%
Kanal D6%
Others41%
CMEGroup58%
IntactGroup20%
PrimaGroup
6%
Kanal D5%
Others11%
CMEGroup61%
IntactGroup19%
PrimaGroup
5%
Kanal D6%
Others9%
Q1 2011 PT Audience Share (%) Q1 2012 PT Audience Share (%)
Q1 2011 TV Ad Market Share (%) Q1 2012 TV Ad Market Share (%)
Source: Kantar Media (all audience share and leadership data is for the 18-49 Urban target group) and CME estimates.TV ad market share represents CMEs share of the net spot and sponsorship revenues including the proportion of product placement revenues in MPE* PT audience share and market share excludes Pro Chisinau channel in Moldova
CME Group Intact Group
Strengthened market share leadershipStrengthened market share leadership
Prime time 19:00-23:00
Kanal D
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Prime time audience share trends 12-54Prime time audience share trends 12-54
Slovak Republic: Broadcast operations
0
5
10
15
20
25
30
35
40
45
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 1 3 5 7 9 11 13 15
CME Total JOJ Total Jednotka (STV1) Dvojka (STV2) Trojka (STV3) Others
The percentage growth and OIBDA margin figures have been derived from data included in our Form 10-Q for the period ended March 31, 2012.
Audienceshare
%
Week Source: PMT/TNS SK
22
2011 2012
Broadcast operationsThree months ended March 31
2012 2011 Growth %
Net revenues (EUR m) 14.0 13.8 2%
OIBDA (EUR m) (0.4) (2.0) 80%
Net revenues (US$ m) 18.6 19.1 (2)%
OIBDA (US$ m) (0.5) (2.5) 82%
OIBDA Margin % (2)% (13)%
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SLOVAKIA - BROADCAST OVERVIEW1.1.2011 - 31.3.2011
SLOVAKIA - BROADCAST OVERVIEW1.1.2012 - 31.3.2012
Time Mon Tue Wed Thu Fri Sat Sun Time Mon Tue Wed Thu Fri Sat Sun
06:00 - 06:30 06:00 - 06:30
06:30 - 07:00 06:30 - 07:00
07:00 - 07:30 07:00 - 07:30
07:30 - 08:00 07:30 - 08:00
08:00 - 08:30 08:00 - 08:30
08:30 - 09:00 08:30 - 09:00
09:00 - 09:30 09:00 - 09:30
09:30 - 10:00 09:30 - 10:00
10:00 - 10:30 10:00 - 10:30
10:30 - 11:00 10:30 - 11:00
11:00 - 11:30 11:00 - 11:30
11:30 - 12:00 11:30 - 12:00
12:00 - 12:30 12:00 - 12:30
12:30 - 13:00 12:30 - 13:00
13:00 - 13:30 13:00 - 13:30
13:30 - 14:00 13:30 - 14:00
14:00 - 14:30 14:00 - 14:30
14:30 - 15:00 14:30 - 15:00
15:00 - 15:30 15:00 - 15:30
15:30 - 16:00 15:30 - 16:00
16:00 - 16:30 16:00 - 16:30
16:30 - 17:00 16:30 - 17:00
17:00 - 17:30 17:00 - 17:30
17:30 - 18:00 17:30 - 18:00
18:00 - 18:30 18:00 - 18:30
18:30 - 19:00 18:30 - 19:00
19:00 - 19:30 19:00 - 19:30
19:30 - 20:00 19:30 - 20:00
20:00 - 20:30 20:00 - 20:30
20:30 - 21:00 20:30 - 21:00
21:00 - 21:30 21:00 - 21:30
21:30 - 22:00 21:30 - 22:0022:00 - 22:30 22:00 - 22:30
22:30 - 23:00 22:30 - 23:00
23:00 - 23:30 23:00 - 23:30
23:30 - 24:00 23:30 - 24:00
Slovak Republic: Broadcast operations
CMEGroup40%
JOJGroup25%
STVGroup
10%
Others25%
23
CMEGroup36%
JOJGroup31%
STVGroup
8%
Others25%
CMEGroup69%
JOJGroup30%
STVGroup
0%
Others1%
CMEGroup65%JOJ
Group34%
STVGroup
0%
Others1%
Q1 2011 PT Audience Share (%) Q1 2012 PT Audience Share (%)
Q1 2011 TV Ad Market Share (%) Q1 2012 TV Ad Market Share (%)
Source: PMT / TNS SK (all audience share and leadership data is for the 12-54 target group) and CME estimates.TV ad market share represents CMEs share of the net spot and sponsorship revenues including the proportion of product placement revenues in MPE. .
Maintained leadership in the marketMaintained leadership in the market
CME Group JOJ Group
Prime time 19:00-23:00
CME = JOJ
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Prime time audience share trends 18-49Prime time audience share trends 18-49
Bulgaria: Broadcast operations
0
10
20
30
40
50
60
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 1 3 5 7 9 11 13 15
CME Total MTG Total BNT Total Other
The percentage growth and OIBDA margin figures have been derived from data included in our Form 10-Q for the period ended March 31, 2012.1 Number not meaningful.
Audienceshare
%
Week Source: TNS TV Plan / GARB
24
2011 2012
Broadcast operationsThree months ended March 31
2012 2011 Growth %
Net revenues (BGN m) 27.9 27.4 2%
OIBDA (BGN m) (1.7) 0.2 Nm1
Net revenues (US$ m) 18.9 19.3 (2)%
OIBDA (US$ m) (1.1) 0.2 Nm1
OIBDA Margin % (6)% 1%
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BULGARIA - BROADCAST OVERVIEW
1.1.2011 - 31.3.2011
BULGARIA - BROADCAST OVERVIEW
1.1.2012 - 31.3.2012
Time Mon Tue Wed Thu Fri Sat Sun Time Mon Tue Wed Thu Fri Sat Sun
06:00 06:30 06:00 06:30
06:30 07:00 06:30 07:00
07:00 07:30 07:00 07:30
07:30 08:00 07:30 08:00
08:00 08:30 08:00 08:30
08:30 09:00 08:30 09:00
09:00 09:30 09:00 09:30
09:30 10:00 09:30 10:00
10:00 10:30 10:00 10:30
10:30 11:00 10:30 11:00
11:00 11:30 11:00 11:30
11:30 12:00 11:30 12:00
12:00 12:30 12:00 12:30
12:30 13:00 12:30 13:00
13:00 13:30 13:00 13:30
13:30 14:00 13:30 14:00
14:00 14:30 14:00 14:30
14:30 15:00 14:30 15:00
15:00 15:30 15:00 15:30
15:30 16:00 15:30 16:00
16:00
16:30 16:00
16:30
16:30 17:00 16:30 17:00
17:00 17:30 17:00 17:30
17:30 18:00 17:30 18:00
18:00 18:30 18:00 18:30
18:30 19:00 18:30 19:00
19:00 19:30 19:00 19:30
19:30 20:00 19:30 20:00
20:00 20:30 20:00 20:30
20:30 21:00 20:30 21:00
21:00 21:30 21:00 21:30
21:30 22:00 21:30 22:00
22:00 22:30 22:00 22:30
22:30 23:00 22:30 23:00
23:00 23:30 23:00 23:30
23:30 24:00 23:30 24:00
Bulgaria: Broadcast operations
CMEGroup51%
MTGGroup24%
BNTGroup
6%
Others19%
25
CMEGroup48%
MTGGroup24%
BNTGroup
6%
Others22%
CMEGroup65%
MTGGroup30%
BNTGroup
4%
Others1%
CMEGroup66%
MTGGroup29%
BNTGroup
3%Others
2%
Q1 2011 PT Audience Share (%) Q1 2012 PT Audience Share (%)
Q1 2011 TV Ad Market Share (%) Q1 2012 TV Ad Market Share (%)
Source: TNS TV Plan/ GARB (all audience share and leadership data is for the 18-49 target group) and CME estimates.TV ad market share represents CMEs share of the net spot and sponsorship revenues including the proportion of product placement revenues in MPE.
Maintained undisputed leadership in the marketMaintained undisputed leadership in the market
CME Group Nova Group
Prime time 19:00-23:00
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Prime time audience share trends 18-49Prime time audience share trends 18-49
Slovenia: Broadcast operations
0
10
20
30
40
50
60
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 1 3 5 7 9 11 13 15
CME Total TV3 SLO1 SLO2 Others
The percentage growth and OIBDA margin figures have been derived from data included in our Form 10K for the period ended March 31, 2012.
Audienceshare
%
Week Source: AGB Nielsen Media Research
26
2011 2012
Broadcast operationsThree months ended March 31
2012 2011 Growth %
Net revenues (EUR m) 10.9 10.5 4%
OIBDA (EUR m) 2.1 2.3 (10)%
Net revenues (US$ m) 14.5 14.5 0%
OIBDA (US$ m) 2.8 3.2 (14)%
OIBDA Margin % 19% 22%
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SLOVENIA - BROADCAST OVERVIEW1.1.2011 - 31.3.2011
SLOVENIA - BROADCAST OVERVIEW1.1.2012 - 31.3.2012
Time Mon Tue Wed Thu Fri Sat Sun Time Mon Tue Wed Thu Fri Sat Sun
06:00 - 06:30 06:00 - 06:30
06:30 - 07:00 06:30 - 07:00
07:00 - 07:30 07:00 - 07:30
07:30 - 08:00 07:30 - 08:00
08:00 - 08:30 08:00 - 08:30
08:30 - 09:00 08:30 - 09:00
09:00 - 09:30 09:00 - 09:30
09:30 - 10:00 09:30 - 10:00
10:00 - 10:30 10:00 - 10:3010:30 - 11:00 10:30 - 11:00
11:00 - 11:30 11:00 - 11:30
11:30 - 12:00 11:30 - 12:00
12:00 - 12:30 12:00 - 12:30
12:30 - 13:00 12:30 - 13:00
13:00 - 13:30 13:00 - 13:30
13:30 - 14:00 13:30 - 14:00
14:00 - 14:30 14:00 - 14:30
14:30 - 15:00 14:30 - 15:00
15:00 - 15:30 15:00 - 15:30
15:30 - 16:00 15:30 - 16:00
16:00 - 16:30 16:00 - 16:30
16:30 - 17:00 16:30 - 17:00
17:00 - 17:30 17:00 - 17:30
17:30 - 18:00 17:30 - 18:00
18:00 - 18:30 18:00 - 18:30
18:30 - 19:00 18:30 - 19:00
19:00 - 19:30 19:00 - 19:30
19:30 - 20:00 19:30 - 20:00
20:00 - 20:30 20:00 - 20:30
20:30 - 21:00 20:30 - 21:00
21:00 - 21:30 21:00 - 21:30
21:30 - 22:00 21:30 - 22:00
22:00 - 22:30 22:00 - 22:30
22:30 - 23:00 22:30 - 23:00
23:00 - 23:30 23:00 - 23:30
23:30 - 24:00 23:30 - 24:00
Slovenia: Broadcast operations
CMEGroup48%
TV36%
RTVGroup20%
Others26%
27
CMEGroup50%
TV33%
RTVGroup21%
Others26%
CMEGroup78%
TV35%
RTVGroup17%
CMEGroup80%
TV32%
RTVGroup17%
Others1%
Q1 2011 PT Audience Share (%) Q1 2012 PT Audience Share (%)
Q1 2011 TV Ad Market Share (%) Q1 2012 TV Ad Market Share (%)
Source: AGB Nielsen Media Research (all audience share and leadership data is for the 18-49 target group) and CME estimates.TV ad market share represents CMEs share of the net spot and sponsorship revenues including the proportion of product placement revenues in MPE.
Maintained undisputed leadership in the marketMaintained undisputed leadership in the market
CME Group RTV Group
Prime time 19:00-23:00
TV 3
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Prime time audience share trends 18-54Prime time audience share trends 18-54
Croatia: Broadcast operations
0
5
10
15
20
25
30
35
40
45
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 1 3 5 7 9 11 13 15
CME Total RTL total HTV1 HTV 2 Others
The percentage growth and OIBDA margin figures have been derived from data included in our Form 10-Q for the period ended March 31, 2012.1 Number not meaningful.
Audienceshare
%
WeekSource: AGB Nielsen Media Research
28
2011 2012
Broadcast operationsThree months ended March 31
2012 2011 Growth %
Net revenues (HRK m) 67.1 67.1 0%
OIBDA (HRK m) 5.7 (1.9) Nm1
Net revenues (US$ m) 11.9 12.5 (5)%
OIBDA (US$ m) 1.0 (0.3) Nm1
OIBDA Margin % 9% (3)%
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CROATIA - BROADCAST OVERVIEW1.1.2011 - 31.3.2011
CROATIA - BROADCAST OVERVIEW1.1.2012 - 31.3.2012
Time Mon Tue Wed Thu Fri Sat Sun Time Mon Tue Wed Thu Fri Sat Sun
06:00 - 06:30 06:00 - 06:30
06:30 - 07:00 06:30 - 07:00
07:00 - 07:30 07:00 - 07:30
07:30 - 08:00 07:30 - 08:00
08:00 - 08:30 08:00 - 08:30
08:30 - 09:00 08:30 - 09:00
09:00 - 09:30 09:00 - 09:30
09:30 - 10:00 09:30 - 10:00
10:00 - 10:30 10:00 - 10:30
10:30 - 11:00 10:30 - 11:00
11:00 - 11:30 11:00 - 11:30
11:30 - 12:00 11:30 - 12:00
12:00 - 12:30 12:00 - 12:30
12:30 - 13:00 12:30 - 13:00
13:00 - 13:30 13:00 - 13:30
13:30 - 14:00 13:30 - 14:00
14:00 - 14:30 14:00 - 14:30
14:30 - 15:00 14:30 - 15:00
15:00 - 15:30 15:00 - 15:30
15:30 - 16:00 15:30 - 16:00
16:00 - 16:30 16:00 - 16:3016:30 - 17:00 16:30 - 17:00
17:00 - 17:30 17:00 - 17:30
17:30 - 18:00 17:30 - 18:00
18:00 - 18:30 18:00 - 18:30
18:30 - 19:00 18:30 - 19:00
19:00 - 19:30 19:00 - 19:30
19:30 - 20:00 19:30 - 20:00
20:00 - 20:30 20:00 - 20:30
20:30 - 21:00 20:30 - 21:00
21:00 - 21:30 21:00 - 21:30
21:30 - 22:00 21:30 - 22:00
22:00 - 22:30 22:00 - 22:30
22:30 - 23:00 22:30 - 23:00
23:00 - 23:30 23:00 - 23:30
23:30 - 24:00 23:30 - 24:00
Croatia: Broadcast operations
CMEGroup33%
RTLGroup26%
HTVGroup
27%
Others14%
29
CMEGroup35%
RTLGroup27%
HTVGroup24%
Others14%
CMEGroup49%
RTLGroup35%
HTVGroup16%
CMEGroup55%
RTL
Group34%
HTVGroup11%
Q1 2011 PT Audience Share (%) Q1 2012 PT Audience Share (%)
Q1 2011 TV Ad Market Share (%) Q1 2012 TV Ad Market Share (%)
Source: AGB Nielsen Media Research (all audience share and leadership data is for the 18-54 target group) and CME estimates.TV ad market share represents CMEs share of the net spot and sponsorship revenues including the proportion of product placement revenues in MPE.
Strengthened leadership in the marketStrengthened leadership in the market
CME Group HTV GroupRTL Group
Prime time 19:00-23:00
CME = RTL RTL = HTV
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Czech Republic: MPE Production Operations in Q1 2012
30Note: The number of hours sold differs from the number of hours broadcast due to timing.*Average audience share (expressed as percentage), January March 2012
CSI: Andel (Drama Series) Season 3
Rose Garden Medical (Drama Series) Season 9
First Step (Soap) Season 1
The Street (Soap) Season 11
The Voice of CzechoSlovakia (Talent Show) Season 1
Q1 2012 Fiction Performance(average audience share*)
Helena (Sitcom) Season 1
Wife Swap (Reality Show) Season 5
44.633.5
29.533.5
28.8
33.5
32.7 29.7
37.2
33.5
40.233.5
39.2
33.5
0
20
4060
80
100
120
Fiction R&E
98118
99
52
Q1 2011 Q1 2012
Program Channels Prime Time
Program
Program Channels Prime Time
Program Channels Prime Time
Program Channels Prime Time
Program Channels Access
Program Channels Prime Time
Q1 2012 R&E Performance(average audience share*)
Number of MPE hours sold(Q1 2012 vs. Q1 2011)
Channels Prime Time
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51.822.1
Romania: MPE Production Operations in Q1 2012
31
Divertis - Romania's Comedy Service(Comedy Series) Season 6
Bet with Life (Drama Series) Season 2
Romanias Got Talent (Talent Show) Season 2
Happy Hour(Variety Show) Season 10
Las Fierbinti (Comedy Series) Season 1
Masterchef(Talent Show) Season 1
17.5 22.1
16.422.1
23.7
22.1
26.0
22.1
18.215.1
0
50
100
Fiction R&E
9789
29
100
Q1 2011 Q1 2012
Program Channels Prime Time
Program Channels Prime Time
Program Channels Access
Program Channels Prime Time
Program Channels Prime Time
Program Channels Prime Time
Q1 2012 Fiction Performance
(average audience share*)
Q1 2012 R&E Performance(average audience share*)
Number of MPE hours sold
(Q1 2012 vs. Q1 2011)
Note: The number of hours sold differs from the number of hours broadcast due to timing.*Average audience share (expressed as percentage), January March 2012
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Slovakia: MPE Production Operations in Q1 2012
32
Rose Garden Medical (Drama Series) Season 6
Only Love (Telenovela) Season 1
The Voice of CzechoSlovakia(Talent Show) Season 1
Come Dine with Me (Reality Show) Season 4
Farm (Reality Show) Season 2
Wife Swap (Reality Show) Season 6
20.628.1
17.7
7.5
23.0
26.3
39.0
28.1
32.8
28.1
29.3
28.1
0
20
40
60
80
100
Fiction R&E
29 20
88 78
Q1 2011 Q1 2012
Program Channels Access
Program Channels Prime Time
Program Channels Prime Time
Program Channels Prime Time
Program Channels Prime Time(Doma)
Program Channels Prime Time
Q1 2012 Fiction Performance
(average audience share*)
Q1 2012 R&E Performance(average audience share*)
Number of MPE hours sold
(Q1 2012 vs. Q1 2011)
Note: The number of hours sold differs from the number of hours broadcast due to timing.*Average audience share (expressed as percentage), January March 2012
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Croatia: MPE Production Operations in Q1 2012
33
Laras Choice (Telenovela) Season 1
In Magazine (Magazine Show) Season 4
Red Carpet (Variety Show) Season 9
0
2040
60
80
100
120
Fiction R&E
36
83
53
105
Q1 2011 Q1 2012
43.1
31.1
24.531.1
24.2
21.5
Program Channels Access
Program Channels Prime Time
Program Channels Prime Time
Q1 2012 Fiction Performance(average audience share*)
Q1 2012 R&E Performance
(average audience share*)
Number of MPE hours sold(Q1 2012 vs. Q1 2011)
Note: The number of hours sold differs from the number of hours broadcast due to timing.*Average audience share (expressed as percentage), January March 2012
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54.6
33.3
Slovenia
34
Bulgaria and Slovenia: MPE Production Operations in Q1 2012
Home Wars (Sitcom) Season 2
Bulgaria
X-Factor(Talent Show) Season 1
Minute to Win It (Game Show) Season 3
35.233.3
40.4
42.2
0
2
4
6
8
Fiction R&E
0 0
88
Q1 2011 Q1 2012
0
2
4
6
8
10
12
Fiction R&E
11
7
0
8
Q1 2011 Q1 2012
Q1 2012 Fiction Performance(average audience share*)
Q1 2012 R&E Performance(average audience share*)
Number of MPE hours sold(Q1 2012 vs. Q1 2011)
Number of MPE hours sold(Q1 2012 vs. Q1 2011)
Program Channels Prime Time
Program Channels Prime Time
Program Channels Prime Time
Note: The number of hours sold differs from the number of hours broadcast due to timing.*Average audience share (expressed as percentage), January March 2012
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Q1 New Media Highlights
35
Czech RepublicCzech Republic
Audience: 635,000 Real Users
Average monthly video views per subscriber: 10.4
Average time spent per subscriber monthly: 2h 50m
No. of titles online: 800 (SVOD)
Price for subscription: US$8.35 (w/o VAT)
Distribution: PC, Panasonic TV
Subscription launch: December 2011
Audience: 635,000 Real Users
Average monthly video views per subscriber: 10.4
Average time spent per subscriber monthly: 2h 50m
No. of titles online: 800 (SVOD)
Price for subscription: US$8.35 (w/o VAT)
Distribution: PC, Panasonic TV
Subscription launch: December 2011
Websites portfolio: 15 websites and 2 mobile apps
Monthly audience: 2.5m Real Users
Average daily audience: 636,000 Unique Visitors Key product development:
Re-launched News Portal
Integrated ICQ (instant messenger) with 330,000 Real Users / month
Websites portfolio: 15 websites and 2 mobile apps
Monthly audience: 2.5m Real Users
Average daily audience: 636,000 Unique Visitors Key product development:
Re-launched News Portal
Integrated ICQ (instant messenger) with 330,000 Real Users / month
WebsitesWebsites
0
4,000
8,000
12,000
16,000
December 2011 January 2012 February 2012 March 2012
Voyo Subscriptions
6,000,000
7,000,000
8,000,000
9,000,000
December2011
January 2012 February 2012 March 2012
Monthly Unique Visitors
Monthly UV 2012 Monthly UV 2011
Q1 N M di Hi hli h
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Q1 New Media Highlights
36
Audience: 800,000 Unique Visitors
Average monthly video views per subscriber: 21.7
Average time spent per subscriber: 4h 22m
No. of titles online: 500 (SVOD)
Price for subscription: US$4.02 (w/o VAT)
Distribution: PC
Subscription launch: December 2011
Audience: 800,000 Unique Visitors
Average monthly video views per subscriber: 21.7
Average time spent per subscriber: 4h 22m
No. of titles online: 500 (SVOD)
Price for subscription: US$4.02 (w/o VAT)
Distribution: PC
Subscription launch: December 2011
Websites portfolio: 19 websites and 3 mobile apps
Monthly audience: 5.7m Unique Visitors
Average daily audience: 645,000 Unique Visitors
Key product development:
Launched 2 regional versions of news portal (stirileprotv.ro)
Launched cooking portal (foodstory.ro)
Re-launched radio portal (profm.ro)
Websites portfolio: 19 websites and 3 mobile apps
Monthly audience: 5.7m Unique Visitors
Average daily audience: 645,000 Unique Visitors
Key product development:
Launched 2 regional versions of news portal (stirileprotv.ro)
Launched cooking portal (foodstory.ro)
Re-launched radio portal (profm.ro)
WebsitesWebsites
RomaniaRomania
0
4,000
8,000
12,000
16,000
December 2011 January 2012 February 2012 March 2012
Voyo Subscriptions
4,000,000
5,000,000
6,000,000
December 2011 January 2012 February 2012 March 2012
Monthly Unique Visitors
Monthly UV 2012 Monthly UV 2011
Q1 N M di Hi hli ht
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Q1 New Media Highlights
37
Audience: 137,000 Real Users
Average monthly video views per subscriber: 35
No. of titles online: 1,200 (SVOD) Price for subscription: US$6.7 (w/o VAT)
Distribution: PC, Samsung TV, iPad
Subscription launch: September 2011 as Voyo (pay wall introduced in October 2010
as proplus.si)
Audience: 137,000 Real Users
Average monthly video views per subscriber: 35
No. of titles online: 1,200 (SVOD) Price for subscription: US$6.7 (w/o VAT)
Distribution: PC, Samsung TV, iPad
Subscription launch: September 2011 as Voyo (pay wall introduced in October 2010
as proplus.si)
Websites portfolio: 12 websites and 5 mobile apps
Monthly audience: 0.8m Real Users
Average daily audience: 315,000 Unique Visitors Key product development:
Restructured product portfolio for better support of Voyo
Websites portfolio: 12 websites and 5 mobile apps
Monthly audience: 0.8m Real Users
Average daily audience: 315,000 Unique Visitors Key product development:
Restructured product portfolio for better support of Voyo
WebsitesWebsites
SloveniaSlovenia
18,000
19,000
20,000
21,000
22,000
23,000
December 2011 January 2012 February 2012 March 2012
Voyo Subscriptions
2,000,000
2,500,000
3,000,000
3,500,000
December 2011 January 2012 February 2012 March 2012
Monthly Unique Visitors
Monthly UV 2012 Monthly UV 2011
Q1 N M di Hi hli ht
Sl k R bli
Sl k R bli
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Q1 New Media Highlights
38
Audience: 443,000 Real Users
Average monthly video views per subscriber: 13.3
Average time spent per subscriber: 3h 26m
No. of titles online: 700 (SVOD)
Price for subscription: US$6.67 (w/o VAT)
Distribution: PC
Subscription launch: February 2011
Audience: 443,000 Real Users
Average monthly video views per subscriber: 13.3
Average time spent per subscriber: 3h 26m
No. of titles online: 700 (SVOD)
Price for subscription: US$6.67 (w/o VAT)
Distribution: PC
Subscription launch: February 2011
Websites portfolio: 5 websites and 2 mobile app
Monthly audience: 1.0m Real Users
Average daily audience: 174,000 Unique Visitors
Number of online clients grew by 19% year-on-year
Key product development:
Integrated ICQ (instant messenger) with 100,000 Real Users / month
Launched news app for iOS
Websites portfolio: 5 websites and 2 mobile app
Monthly audience: 1.0m Real Users
Average daily audience: 174,000 Unique Visitors
Number of online clients grew by 19% year-on-year
Key product development:
Integrated ICQ (instant messenger) with 100,000 Real Users / month
Launched news app for iOS
WebsitesWebsites
Slovak RepublicSlovak Republic
2,000
4,000
6,000
February 2012 March 2012
Voyo Subscriptions
1,500,000
2,000,000
2,500,000
December 2011 January 2012 February 2012 March 2012
Monthly Unique visitors
Monthly UV 2012 Monthly UV 2011
Q1 New Media Highlights
C ti
C ti
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Q1 New Media Highlights
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Audience: 275,000 Unique Visitors
Average monthly video views per subscriber: 35.1
Average time spent per subscriber: 8h 21m
No. of titles online: 400 (SVOD)
Price for subscription: US$6.22 (w/o VAT)
Distribution: PC
Subscription launch: February 2012
Audience: 275,000 Unique Visitors
Average monthly video views per subscriber: 35.1
Average time spent per subscriber: 8h 21m
No. of titles online: 400 (SVOD)
Price for subscription: US$6.22 (w/o VAT)
Distribution: PC
Subscription launch: February 2012
Websites portfolio: 9 websites and 2 mobile apps
Monthly audience: 0.88m Real Users
Average daily audience: 310,000 Unique Visitors
Number of online clients grew by 10% year-on-year
Key product development:
Integrate blog platform in news portal
Built news app for Panasonic TV
Websites portfolio: 9 websites and 2 mobile apps
Monthly audience: 0.88m Real Users
Average daily audience: 310,000 Unique Visitors
Number of online clients grew by 10% year-on-year
Key product development:
Integrate blog platform in news portal
Built news app for Panasonic TV
WebsitesWebsites
CroatiaCroatia
3,000,000
3,500,000
4,000,000
4,500,000
December2011
January 2012 February 2012 March 2012
Monthly Unique Visitors
Monthly UV 2012 Monthly UV 2011
0
1,000
2,000
February 2012 March 2012
Voyo Subscriptions
Q1 New Media Highlights
Bulgaria
Bulgaria
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Q1 New Media Highlights
40
Audience: 193,000 Unique Visitors
No. of titles online: 300 (SVOD)
Price for subscription: US$5.37 (w/o VAT)
Distribution: PC
Subscription launch: March 9, 2012
Audience: 193,000 Unique Visitors
No. of titles online: 300 (SVOD)
Price for subscription: US$5.37 (w/o VAT)
Distribution: PC
Subscription launch: March 9, 2012
Websites portfolio: 8 websites
Monthly audience: 1.1m Real Users
Average daily audience: 190,000 Unique Visitors
Number of online clients grew by 22% year-on-year
Key product development:
Launched News Portal (btv.bg) with average 60,000 Unique Visitors / day
Websites portfolio: 8 websites
Monthly audience: 1.1m Real Users
Average daily audience: 190,000 Unique Visitors
Number of online clients grew by 22% year-on-year
Key product development:
Launched News Portal (btv.bg) with average 60,000 Unique Visitors / day
WebsitesWebsites
BulgariaBulgaria
1,500,000
2,000,000
2,500,000
December 2011 January 2012 February 2012 March 2012
Monthly Unique VisitorsMonthly UV 2012 Monthly UV 2011
0
500
1,000
March 2012
Voyo Subscriptions
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FINANCIAL REVIEW
Q1 2012 divisional and country analysis
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Q1 2012 divisional and country analysis
42
US$ mNet Revenues OIBDA
2012 2011 Growth %Like-for-Like
growth12012 2011 Growth %
Like-for-likegrowth1
Bulgaria 18.9 19.3 (2)% 2% (1.1) 0.2 Nm2 Nm2
Croatia 11.9 12.5 (5)% 0% 1 (0.3) Nm2 Nm2
Czech Republic 51.7 57.7 (10)% (5)% 20.2 22.6 (11)% (5)%
Romania 31.2 34.4 (9)% (3)% 1.9 3.4 (45)% (40)%
Slovak Republic 18.6 19.1 (2)% 2% (0.5) (2.5) 82% 81%
Slovenia 14.5 14.5 0% 4% 2.8 3.2 (14)% (10)%
Divisional costs - - - - (1.4) (0.5) (186)% (203)%
Broadcast sub-total 146.8 157.5 (7)% (2)% 22.9 26.1 (13%) (6)%
OIBDA Margin3 16% 17%
Media Pro Entertainment 43.4 40.2 8% 15% 1.7 0.7 131% 160%
New Media 3.7 2.6 40% 48% (1.4) (1.6) 10% 5%
Central costs - - - - (8.2) (9.8) 16% 14%
Intersegment
revenues/eliminations (26.5) (27.5) 4% (2)% (0.8) (1.2) 32% 26%
Total All Operations 167.4 172.8 (3)% 3% 14.1 14.2 (1)% 9%
OIBDA Margin 8% 8%
The percentage growth and OIBDA margin figures have been derived from data included in our Form 10-Q for the period ended March 31, 2012.1 Like-for-like currency growth reflects the impact of applying the current period average exchange rates to the prior period revenues and costs.2 Number not meaningful.3 Ratio of OIBDA to Net Revenues.
Summary consolidated income statement
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Summary consolidated income statement
43
US$ mThree months ended March 31
2012 2011
Net revenues 167.4 172.8
Operating costs 29.1 33.7
Cost of programming 97.7 96.0
Depreciation and amortisation 23.6 21.1
Selling, general and administrative costs 27.3 29.7
Operating loss (10.3) (7.7)
Net interest expense (31.6) (54.9)
Foreign currency gain 24.3 43.2
Other income / (expense) 0.2 (0.7)
Income tax credit / (provision) 3.6 (0.9)
Net loss from continuing operations (13.8) (21.0)
Net loss / (income) attributable to noncontrolling interests 0.4 (0.1)
Net loss attributable to CME Ltd. (13.4) (21.1)
Earnings per share (0.21) (0.33)
Please refer to our Form 10-Q for the period ended March 31, 2012 for the full financial statements and related notes and disclosures.
Summary consolidated balance sheet
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Summary consolidated balance sheet
44
US$ m As at March 31, 2012 As at December 31, 2011Current assets 513.2 538.3
Non-current assets 2,260.1 2,143.5
Total assets 2,773.3 2,681.8
Current liabilities 376.9 255.6
Non-current liabilities 1,324.8 1,408.3
Total liabilities 1,701.7 1,663.9
Shareholders' equity 1,056.3 1,001.7
Noncontrolling interests 15.3 16.2
Total liabilities & shareholders' equity 2,773.3 2,681.8
Cash & cash equivalents 150.0 186.4
Gross debt1 (1,406.8) (1,372.1)
Net Debt (1,256.8) (1,185.7)
Cash and cash equivalents 150.0 186.4
Undrawn committed facilities and 2013 Notes2 64.3 60.1
Liquidity 214.3 246.5
Please refer to our Form 10-Q for the period ended March 31, 2012 for the full financial statements and related notes and disclosures.1 Gross debt shown is the full face value of all outstanding debt, which is US$ 43 million greater than the accounting value as at March 31, 2012.2 Includes repurchased 2013 Notes at market value.
Summary cash flow
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Summary cash flow
45
Three months ended March 31
US$ m 2012 2011
Net cash (used in) / generated from operating activities (33.1) 30.2
Net cash used in investing activities (7.2) (6.4)
Net cash used in financing activities (1.2) (57.2)
Impact of exchange rate fluctuations 5.1 6.1
Net decrease in cash and cash equivalents (36.4) (27.3)
Net cash (used in) / generated from operating activities (33.1) 30.2
Capex additions, net of disposals (7.2) (5.5)
Free cash flow (40.3) 24.7
Supplemental disclosure of cash flow information
Cash paid for interest 33.1 39.1
Cash paid for income taxes (net of refunds) 2.3 3.7
Please refer to our Form 10-Q for the period ended March 31, 2012 for the full financial statements and related notes and disclosures.
OIBDA reconciliation
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OIBDA reconciliation
46
US$ m
Three months endedMarch 31
2012 2011
Reconciliation to Consolidated Statement of Operations:
Operating loss (10.3) (7.7)
Depreciation of property, plant and equipment 11.9 14.3
Amortization of intangible assets 12.5 7.6OIBDA 14.1 14.2