IB Q3 2011

Transcription

IB Q3 2011

PRIVATE & CONFIDENTIAL
MEDIA PRIMA BERHAD
FINANCIAL & BUSINESS REVIEW
FOR THE 9-MONTH PERIOD ENDED
30 SEPTEMBER 2011
18 NOVEMBER 2011
1
TABLE OF CONTENT
SECTION 1
OVERVIEW
SECTION 2
PERFORMANCE REVIEW
SECTION 3
OUTLOOK & CONCLUSIONS
2
3
SECTION 1 : OVERVIEW
MEDIA PRIMA BERHAD TODAY
Television
Broadcasting
100%
Print Media
Outdoor
Media
98%
Radio
100%
Content
Creation
100%
New
Media
4
International
Division
100%
70% (Ghana)
100%
100%
NETWORK
PORTALS
100%
* Pending completion
of disposal
80%
100%
95%
FACT SHEET
Share capital @ 30/09/11
Issued & paid-up share capital
Extracts from Balance Sheet @ 30/09/11
S/holders funds
Total assets
Cash
= RM1,063.6m
= RM1,367.2m
= RM2,357.5m
= RM400.6m
*Gama Film
Company Ltd
Group borrowings
= RM520.7m
PDS Ratings (RAM)
= AAAbg (MTN), P1 (CP)
ADEX SHARE BY MEDIA IN MALAYSIA PRIVATE & CONFIDENTIAL
TV
50%
TV
50%
N/papers
41%
N/papers
41%
Radio
4%
Outdoor
1%
Others
4%
Radio
4%
Outdoor
1%
Others
4%
YTD Q3 2011
YTD Q3 2010
RM Million
TV*
Newspapers
Radio
Outdoor
Others
Total
YTD Q3 2011
3,923
3,220
315
87
271
7,816
YTD Q3 2010
3,419
2,851
289
90
245
6,894
15
13
9
(3)
11
13
% Change
* Include Pay-TV
Source : AC Nielsen
5
MPB GROUP REVENUE BY PLATFORM
Revenue Contribution Q3 2011
Outdoor
9%
Radio
3%
Print
Circulation
18%
Print Adex
New Media
1%
Outdoor
9%
TVN
42%
Print Circulation
6
Revenue Contribution Q3 2010
Radio
4%
New Media
0%
TVN
43%
Print Circulation
22%
Print Ad
24%
TVN
Print Ad
22%
Outdoor
YTD Q3 2011
Radio
New Media
TVN
Print Ad
Print Circulation
Outdoor
YTD Q3 2010
Radio
New Media
7
SECTION 2 : PERFORMANCE REVIEW
8
SECTION 2.1 : MEDIA PRIMA GROUP
CONSOLIDATED RESULTS YTD Q3 2011
RM'000
YT D SEP
YT D SEP
2011
2010
%
GROSS REVENUE
1,427,198
1,357,285
5
NET REVENUE
1,193,329
1,135,372
5
ROYALTIES
NET REVENUE AFTER ROYALTIES
DIRECT COSTS
CON T R I BU T I ON
OTHER INCOME
OVERHEADS
EBI T D A BEFOR E EI
FINANCE COSTS
DEPRECIATION & AMORTISATION
PR OFI T BEFOR E ASSOCI AT E
(2,717)
1,190,612
(399,810)
7 9 0 ,8 0 2
18,262
(2,612)
1,132,760
(382,944)
7 4 9 ,8 1 6
15,197
(4)
5
(4)
5
20
(532,286)
2 7 6 ,7 7 8
(497,674)
2 6 7 ,3 3 9
(7)
4
(25,035)
(73,090)
(24,521)
(75,650)
(2)
3
SHARE OF ASSOCIATE'S RESULTS
1 7 8 ,6 5 3
2,172
1 6 7 ,1 6 8
5,207
7
(58)
PR OFI T BEFOR E T AX BEFOR E EI
1 8 0 ,8 2 5
1 7 2 ,3 7 5
5
EXCEPTIONAL ITEMS (" EI" )
PR OFI T BEFOR E T AX
TAXATION
PR OFI T AFT ER T AX
M I N OR I T Y I N T ER EST
PAT AM I - CON T I N U I N G OPER AT I ON S
N ET L OSSES FR OM SU BSI D I AR I ES H EL D
FOR SAL E
GAI N ON D I SPOSAL OF SU BSI D I AR Y
ACQU I R ED EXCL U SI VEL Y FOR SAL E
PAT AM I
PAT AM I EXCL U D I N G EI - CON T I N U I N G
OPER AT I ON S
EBI T D A e xc l EI (c o n t in u in g o p e ra t io n ) %
PAT AM I e xc l EI (c o n t in u in g o p e ra t io n ) %
-
43,552
180,825
(46,358)
1 3 4 ,4 6 7
215,927
(55,464)
1 6 0 ,4 6 3
( 1 ,7 6 4 )
( 6 ,3 6 9 )
1 3 2 ,7 0 3
(1 5 3 )
54
1 5 4 ,0 9 4
(100)
(16)
16
(16)
72
(14)
-
(100)
-
100
1 3 2 ,6 0 4
1 5 4 ,0 9 4
(14)
1 3 2 ,7 0 3
1 1 0 ,5 4 2
20
23%
11%
24%
10%
9
SUMMARY OF CONSOLIDATED RESULTS
GROSS
REVENUE
REVENUE
PBT
BY 18%
7%
EBITDA
before EI
PBT
PATAMI
7%
27%
• YTD Q3 2011 revenue grew by 5% againts YTD Q3 2010. 2011 recorded a
strong 1H 2011 performance on the back of continuing economic recovery in
2010 but tapers down in the 3rd quarter 2011 with the recent economic crisis in
the US & Europe
• Q3 2011 saw the Group’s revenue dropped amid the economic uncertainty in
the month of September 2011. However, the increased ad spend during the
Raya festival offset the drop in September’s sales.
•
EBITDA improved by 4% against YTD Q3 2010 in line with the increased
contribution and cost savings.
•
Direct cost increased by 4% compared to YTD Q3 2010 which is mainly the
result of TV Networks’ investment in better local syndicated contents to
improve ratings as well as Print’s higher newsprint costs.
•
Outdoor Media’s direct cost increased by 18% against YTD Q3 2010 mainly
due to increase in site rental as result of revision and renewals/extensions of
key concession contracts as well as two (2) new airport concessions
acquired at the end of 2010.
•
Other Income increased by 20% against YTD Q3 2010 due to higher interest
income and tax refund received by Print media for a subsidiary which has
been struck off.
•
Overheads increased by 7% mainly due to higher staff costs
10
SUMMARY OF CONSOLIDATED RESULTS
GROSS
REVENUE
•
PBT before EI increased by 5% against YTD Q3 2010 in line with the higher
revenue
•
Depreciation and Amortisation decreased by 3% compared to YTD Q3 2010
which had included the amortisation of publishing rights that were fully
amortised by December 2010.
•
Share of associate’s profit represents the Group’s share of the results in MNI.
2010 EI relates to negative goodwill from acquisition of 11.8% interest in NSTP
amounting to RM53.3 million, gain on disposal of a land amounting to RM5.4 mil
and reversal of assets impairment of RM17.2 mil. These are offset against ESOS
expenses of RM32.4 mil.
•
The Group recorded PATAMI of RM132.6 million against YTD Q3 2010 of RM154.1
mil.
•
Excluding the EI and net losses from Subsidiaries held for sale, the Group
achieved PATAMI from continuing operations of RM132.7 mil, 20% higher than
RM110.5 mil in YTD Q3 2010.
•
PATAMI (ex EI) margin stood at 11% surpassing YTD Q3 2010 of 10%
•
The disposal of TV3N was completed on 5 September 2011 realising a net gain
of RM54k
PBT BEFORE EI
PBT
BY 18%
7%
GROSS
REVENUE
PBT
PATAMI
BY 18%
PATAMI
7%
27%
(excluding EI)
PATAMI
PATAMI
27%
11
RESULTS QUARTER-BY-QUARTER
R M'000
GROSS REVENUE
NET REVENUE AFTER ROYALTIES
DIRECT COSTS
CON T R I BU T I ON
Contribution %
OTHER INCOME
*
12
QU AR T ER 2 EN D ED
30 JU N E 2011
30 SEPT 2011
30 SEPT 2010
(B - A)
(B - C)
A
B
C
%
%
502,672
498,271
496,107
(1)
0
420,703
(144,345)
276,358
416,529
(130,287)
286,242
415,748
(126,900)
288,848
(1)
10
4
0
(3)
(1)
66%
69%
69%
63
>100
5,628
(191,615)
(188,915)
(185,923)
1
(2)
9 0 ,3 7 1
21%
1 0 6 ,4 9 0
26%
1 0 6 ,4 7 1
26%
18
0
(7,898)
(22,282)
(8,725)
(25,732)
(8,322)
(25,037)
(10)
(15)
(5)
(3)
SHARE OF ASSOCIATE'S RESULTS
60,191
357
72,033
683
73,112
612
20
91
(1)
12
PR OFI T BEFOR E T AX BEFOR E EI
60,548
72,716
73,724
20
(1)
20,612
NA
(100)
94,336
(20,655)
20
(21)
(23)
10
20
(27)
(11)
60
20
(26)
100
100
20
(26)
OVERHEADS
EBI T D A BEFOR E EI
EBITDA before EI Margin %
FINANCE COSTS
DEPRECIATION & AMORTISATION
PR OFI T BEFOR E ASSOCI AT ES
EXCEPTIONAL ITEMS (" EI" )
PR OFI T BEFOR E T AX
TAXATION
PR OFI T
AFT ER T AX
MI N OR I T Y I N T ER EST
PAT AMI - CON T I N U I N G
OPER AT I ON S
GAIN ON DISPOSAL OF SUBSIDIARY
ACQUIRED EXCLUSIVELY FOR SALE
PAT AMI
PAT AMI exc luding EI Margin %
60,548
(15,454)
4 5 ,0 9 4
(655)
4 4 ,4 3 9
4 4 ,4 3 9
11%
9,163
72,716
(18,672)
5 4 ,0 4 4
(726)
5 3 ,3 1 8
54
5 3 ,3 7 2
13%
3,546
7 3 ,6 8 1
(1,812)
7 1 ,8 6 9
7 1 ,8 6 9
12%
MPB GROUP RESULTS – BY MEDIA GROUP
TVN
RM'000
G ross Revenue
YTD Q3 2011
YTD Q3 2010
Growth %
Net Revenue (af t er royalt ies)
YTD Q3 2011
YTD Q3 2010
Growth %
EBI TDA Bef ore EI
YTD Q3 2011
YTD Q3 2010
Growth %
Depreciat ion &
I nt erest Expenses
YTD Q3 2011
YTD Q3 2010
Growth %
PBT / (LBT) Bef ore Associat e
Bef ore EI - Cont inuing
Operat ions
YTD Q3 2011
YTD Q3 2010
Growth %
Radio
RM'000
Out door
Media
RM'000
Print
Media
RM'000
New Media
RM'000
Ot hers
RM'000
Consol
Adjust ment
RM'000
13
Tot al
Act ual
RM'000
627,260
589,330
6
49,737
52,748
(6)
116,787
105,217
11
622,325
582,758
7
8,427
7,210
17
21,923
32,934
(33)
(19,261) 1,427,198
(12,912) 1,357,285
(49)
5
500,960
473,272
6
41,206
43,348
(5)
108,254
99,037
9
523,381
487,124
7
7,879
6,293
25
21,923
32,934
(33)
(12,991) 1,190,612
(9,248) 1,132,760
(40)
5
160,910
150,241
7
20,517
20,299
1
35,735
36,278
(1)
102,220
100,995
1
(6,683)
(5,383)
(24)
54,544
(10,077)
>100
1,373
1,447
5
6,909
6,857
(1)
38,357
36,128
(6)
809
1,102
27
23,789
24,342
2
19,144
18,852
2
28,826
29,421
(2)
63,863
64,867
(2)
(7,492)
(6,485)
(16)
30,755
(34,419)
>100
31,065
28,481
(9)
129,845
121,760
7
(90,465)
(25,014)
(>100)
276,778
267,339
4
(4,177)
1,814
>100
98,125
100,171
2
(86,288)
(26,828)
(>100)
178,653
167,168
7
SUMMARY OF YTD Q3 2011 RESULTS BY MEDIA GROUP
Radio Networks
TV Networks
Print Media
• Revenue grew 6%
• Revenue dropped by 6%
• Revenue grew by 7%
• EBITDA grew by 7% whilst
PBT grew by 7%
• FlyFM & OneFM achieved
revenue growth of 4% &
16% respectively whilst
HotFM declined by 13%
• EBITDA grew by 1% whilst
PBT dropped by 2%
• EBITDA & PBT grew by 1%
& 2% respectively
Outdoor Media
•
Revenue grew by 11%
•
EBITDA & PBT declined
by 1% and 2%
respectively
Ghana
• The disposal of TV3N was
completed in September
2011 realising a net gain
of RM54 thousand
Note: The above excludes EI & Associates results
New Media
• Revenue grew by 17%
• LBITDA & LBT both higher
than YTD Q3 2010 to
accommodate Tonton’s
gestation period.
14
15
SECTION 2.2 : TV NETWORKS
SEGMENTATION OF OUR TV STATIONS
STATION
TARGET VIEWERS
POSITIONING
ADVERTISING FOCUS
Mass Market skewed
towards Malay audience,
with progressive mindsets
Channel synonymous with
family, real-life,
entertainment and news
content leaning towards
cultural proximity "Inspirasi Hidupku"
Fast moving consumer
goods ("FMCG") products,
communications, services,
transportation
Malaysian Urban
Households; 25-45 years
old; Kids & Chinese
Television as an escapade
– “My Feel Good Channel”
Brands targeting the
Malaysian Urban middle to
high class; image products
and lifestyle
Young Malaysian Urban,
Chinese; 15-24 years old
Tastemaker, energetic and
differentiation in content –
“We are different”
Brands targeting the
Young Urban; sports,
energy drink, fashion, and
Chinese viewers; health
and wealth related
Mass Market skewed
towards young semi-urban
and rural Malays
Young semi-urban Malays
skewed content with a
mixture of drama, real-life
and current affairs - "Dekat
Di Hati"
FMCG products, non
traditional advertisers,
government
16
TV NETWORKS YTD Q3 2011 RESULTS PRIVATE & CONFIDENTIAL
YTD Q3
YTD Q3
RM '000
2011
2010
%
GR OS S R E VE N U E
6 2 7 ,2 6 0
5 8 9 ,3 3 0
6
500,960
473,272
6
D IR E CT COS TS
(160,903)
(146,406)
(10)
CON TR IB U TION
340,057
326,866
4
5,087
6,400
N E T R E VE N U E ( AFTE R R OYAL TIE S )
OTH E R IN COM E
(21)
Hum an resources
(77,354)
(74,926)
Occupancy
(16,311)
(16,666)
2
Satellite/Telecom m Fees
(15,074)
(19,237)
22
Other Overheads
(45,178)
(46,762)
3
(30,317)
(25,434)
(19)
(184,234)
(183,025)
PWS overheads
OVE R H E AD S
E B ITD A B E FOR E E I
E x c e p ti o n a l i te m ( E I)
E B ITD A a fte r E I
Interest & Depreciation
P R OFIT B E FOR E TAX
Taxation
1 6 0 ,9 1 0
-
1 5 0 ,2 4 1
( 1 3 ,8 3 7 )
1 6 0 ,9 1 0
(31,065)
1 2 9 ,8 4 5
(32,070)
1 3 6 ,4 0 4
(28,481)
1 0 7 ,9 2 3
(32,857)
(3)
(1)
7
100
18
(9)
20
2
P R OFIT AFTE R TAX
9 7 ,7 7 5
7 5 ,0 6 6
30
P AT E X CL U D IN G E I
9 7 ,7 7 5
8 8 ,9 0 3
10
PAT excluding EI Margin %
19%
19%
EBITDA excluding EI Margin%
32%
32%
17
TV VIEWERSHIP SHARE (FTA & PAY TV)
Station
Total 4+ Viewers
Jan - Sept Jan - Sept
2011
2010
18
Urban 15 to 29 (English
Chinese 4+ Viewers
Literate) Viewers
Malay 15+ Viewers
Jan - Sept Jan - Sept Jan - Sept Jan - Sept Jan - Sept Jan - Sept
2011
2010
2011
2010
2011
2010
28%
28%
3%
3%
18%
19%
38%
38%
6%
5%
20%
19%
7%
7%
2%
2%
6%
5%
23%
21%
9%
8%
2%
2%
8%
8%
1%
1%
4%
4%
10%
9%
48%
46%
47%
44%
38%
38%
52%
51%
5%
6%
1%
1%
3%
3%
8%
9%
8%
11%
4%
4%
6%
8%
10%
13%
39%
37%
48%
51%
53%
51%
30%
27%
0%
0%
0%
0%
0%
0%
0%
0%
Improved overall ratings despite stiff competition and introduction of new channels by paid-TV operators.
TOP 10 CHANNELS WATCHED (FTA & PAY TV)
STN
TOTAL 4+
Q1-Q3 2011 STN
Q1-Q3 2010
STN
CHINESE 4+
Q1-Q3 2011 STN
Q1-Q3 2010
STN
MALAY 15+
Q1-Q3 2011 STN
19
Q1-Q3 2010
1 TV3
28
TV3
28
8TV
24
8TV
21
TV3
38
TV3
39
2 TV2
8
TV2
10
ntv7
20
ntv7
19
TV2
10
TV2
13
3 TV9
8
TV9
8
HUAHEE
9
HUAHEE
8
TV9
10
TV9
9
4 8TV
6
TV1
6
WLT
6
WLT
7
TV1
8
TV1
8
5 ntv7
6
8TV
5
AEC
5
AEC
5
PRIMA
5
PRIMA
5
6 TV1
5
ntv7
5
TV2
4
XHE
4
RIA
5
RIA
5
7 SUN-TV
4
SUN-TV
4
XHE
3
TV2
4
CERIA
2
CERIA
2
8 PRIMA
3
PRIMA
3
TV3
3
OTH. A.
3
ntv7
2
ntv7
2
9 RIA
3
RIA
3
TVBC
2
TV3
3
OASIS
2
8TV
1
10 CERIA
2
CERIA
2
OTH. A.
1
TVBS
2
8TV
2
OASIS
1
MPB channels remain the leader among All Viewers and Chinese
Source: Nielsen Audience Measurement
PERFORMANCE REVIEW : VIEWERSHIP
No.
Programme
Genre
Channel
000s
TVR
Share (%)
1
ANUGERAH JUARA LAGU (L)
MUSICAL/ENTERTAINMENT
TV3
4,186
21.3
64.1
2
ANUGERAH BINTANG POPULAR BH (L)
TV3
4,027
20.5
60.9
3
MENTOR AKHIR (L)
TV3
3,775
19.2
60.5
4
MENTOR
TV3
3,028
15.4
46.3
5
JUVANA
DRAMA/SERIES
TV3
2,777
14.1
41.5
6
BERITA TERKINI 2300
NEWS
TV3
2,634
13.4
45.4
7
PERL. PRI. KEL. PIALA DUNIA 2014 (L)
SPORTS
TV1
2,574
13.1
34.5
8
BULETIN UTAMA
NEWS
TV3
2,458
12.5
43.4
9
MENTOR RAYA
TV3
2,430
12.1
40.7
DRAMA/SERIES
TV3
2,389
12.1
36.2
DOCUMENTARIES/MAGAZINES
TV3
2,355
11.9
37.2
MOVIES
TV3
2,313
11.8
38.3
10
LESTARY
11
999 (L)
12
CNY BLOCKBUSTER
13
AKSI
DRAMA/SERIES
TV3
2,297
11.6
36.9
14
SERAM
DRAMA/SERIES
TV3
2,158
10.9
33.0
15
STANZA CINTA
DRAMA/SERIES
TV3
2,157
10.9
35.7
16
NEW YEAR MOVIE SPECIAL
MOVIES
TV3
2,105
10.7
33.4
17
PERLAWANAN AKHIR PIALA FA (L)
SPORTS
TV1
2,009
10.2
30.3
18
EDISI KHAS
COMEDIES/SITCOMS
TV3
2,001
10.1
32.3
19
BERITA TERKINI 2340
NEWS
TV3
1,986
10.1
44.5
20
CEREKARAMA
MOVIES
TV3
1,960
9.9
35.2
Source Nielsen Audience Measurement | Universe: 19,723,615 | January – September 2011
Remain top programmes among all genres except for “Sports”
20
VIEWERS: OUR PROGRAMMES VS ASTRO’S
MEDIA PRIMA
Programme
1
2
3
4
5
6
7
8
9
10
MPB/Astro
multiple
ASTRO
(r) 000s
4,186
ANUGERAH BINTANG POPULAR BH(L) 4,027
MENTOR AKHIR(L)
3,775
MENTOR
3,028
JUVANA
2,777
BULETIN UTAMA
2,458
MENTOR RAYA
2,430
LESTARY
2,389
999 (L)
2,355
CNY B.B
2,313
29,738
ANUGERAH JUARA LAGU (L)
TVR
Share
21
Programme
21.3
64.1
1 KONSERT AK.AKADEMI FANTASIA(L)
20.5
60.9
2 GELANGGANG AKHIR RAJA LAWAK(L)
19.2
60.5
15.4
46.3
14.1
41.5
12.5
43.4
12.1
40.7
12.1
36.2
11.9
37.2
11.8
38.3
(r) 000s
3 MAHARAJA LAWAK(L)
4 KONSERT AKADEMI FANTASIA(L)
5 (L) BOLASEPAK: FRIENDLY + QUAL
6 GELANGGANG RAJA LAWAK(L)
7 (L) MAHARAJA LAWAK
8 ONG BAK 3
9 TIRAI AKADEMI FANTASIA(L)
10 (L) MAN U V CHELSEA 18/09/11
Our Top 10 programmes
Vs
Astro‟s Top 10 programmes
1,257
1,225
908
816
744
731
680
653
626
615
8,255
TVR
Share
6.4
22.2
6.2
18.7
4.6
15.5
4.1
13.3
3.8
12.4
3.7
11.5
3.5
11.4
3.3
10.9
3.2
10.8
3.1
17.5
3.33
3.29
4.16
3.71
3.73
3.36
3.57
3.66
3.76
3.76
3.60
TV ADEX SHARE BY STATION : 30 SEPTEMBER 2011
TOTAL
RM‘000
2011
Non discounted
gross revenue
-%
- RM'000
Growth %
Discount factor
-%
- RM'000
Gross Revenue
- RM'000
-%
Growth %
2010
Non discounted
gross revenue
-%
- RM'000
Discount factor
-%
- RM'000
Gross Revenue
- RM'000
-%
22
43
951,644
15
17
386,945
9
15
337,555
1
12
265,178
(5)
87
1,941,322
8
58
(555,385)
76
(293,898)
75
(253,212)
80
(211,567)
68
(1,314,061)
396,259
54
6
93,047
13
14
84,343
11
5
40
829,711
17
356,186
16
334,765
55
(455,670)
77
(274,886)
76
(254,544)
374,041
54
* Based on estimates.
81,300
12
80,221
12
53,611
7
(0)
3
64,015
15
60 *
(38,408)
10
213,378
4
60 *
(128,026)
0
0
0
100
2,218,715
8
0
67
0 (1,480,496)
627,260
85
6
25,607
3
15
85,352
12
4
0
0
0
738,219
100
6
14
279,638
87
1,800,300
3
55,825
10
205,966
0
0
100
2,062,091
81
(225,870)
67
(1,210,970)
53,768
8
589,330
85
60 *
(33,497)
22,328
3
60 *
(123,577)
82,389
12
0
66
0 (1,368,044)
0
0
694,047
100
23
SECTION 2.3 : PRINT
PRODUCT POSITIONING & SEGMENTATION
NEWSPAPER
TARGET VIEWERS
POSITIONING
ADVERTISING FOCUS
New Malays, young age
20-39 years old, dynamic
and progressive Malaysian
Malay Daily
Young people who are
looking for entertainment,
shopping news and
lifestyle features
FMCG products,
communications, services,
transportation
From all walks of life,
working class to students,
housewives, business
people and decision
makers
Malay Daily
People who have an open
mind and are drawn to
new and interesting
products and services
Influential newspaper
addressed to government
and corporate sectors, the
intelligentsia, young
professional and students
English Daily
Authoritative newspaper
that is responsible for the
well-being and progress of
the nation in all fields. “The
Newspaper of The Nation”
24
FMCG products,
government, services
Targeting the Malaysian
Urban middle to high
class; image products and
lifestyle
CLEAR SEGMENTATION STRATEGY
Giving advertisers and readers what they want to capture greater share of readership and
advertising revenue
NSTP GROUP CONSOLIDATED RESULTSPRIVATE & CONFIDENTIAL
RM'000
YTD Q3
2011
YTD Q3
2010
25
%
Gross Revenue
622,325
582,758
7
Net Revenue
523,381
487,124
7
(170,379)
(167,106)
(2)
353,002
320,018
10
8,037
4,425
82
Direct cost
Other operating income
Overheads
(258,819)
(223,448)
(16)
102,220
(37,224)
100,995
(34,858)
1
(7)
Finance cost
(1,133)
(1,270)
Profit before EI and Associates
Exceptional items
63,863
-
64,867
7,807
2,172
5,207
(58)
66,035
77,881
(15)
(14,854)
(16,856)
12
51,181
61,025
(16)
EBITDA
Depreciation
Share of results of associates
Profit before taxation
Taxation
Profit after taxation
EBITDA Margin
PATAMI Margin
20%
10%
21%
13%
11
(2)
(100)
NSTP GROUP REVENUE CONTRIBUTION
90
80
76
73
79
78
70
60
50
%
40
27
30
24
22
21
20
10
0
2008
2009
2010
English
Malay
3rd Quarter '11
26
READERSHIP TREND BY LANGUAGE
Readers ('000)
ENGLISH
New Straits Times
New Sunday Times
BAHASA
Berita Harian
Berita Minggu
Harian Metro
Metro Ahad
Q4 2008
Q4 2010
Q4 2009
Q2 2011
308
263
236
218
236
235
214
202
1,213
1,389
2,205
2,142
1,160
1,207
2,645
2,687
1,020
1,132
3,113
3,434
1,093
1,233
3,654
3,872
Malay newspapers will continue
to be the main driver to revenue growth.
(Source: Nielsen Media Research – Q42008-Q22011)
(„000)
7,000
6,000
5,000
English
4,000
Malay
Chinese
3,000
Tamil
2,000
1,000
2006
27
2007
2008
(Source: Nielsen Media Research )
2009
2010
PRINT – ADEX MARKET SHARE BY LANGUAGE
50
46
44
45
42
40
38
40
36
35
36
32
30
31
29
30
26
% 25
22
26
22
20
15
10
5
0
2007
2008
English
2009
Chinese/Others
2010
3rd Quarter '11
Malay
Source: Nielsen Media Research
In line with growing readership, Malay language continue to grow its adex market share.
28
NSTP ADVERTISING REVENUE TREND FOR 3Q 2011
17%
320
19%
310
300
290
(5%)
RM Million
280
270
260
250
240
230
220
210
200
3rd Quarter
2009
2010
2011
29
NSTP CIRCULATION REVENUE TREND FOR 3Q 2011
9%
230
(4%)
220
RM Million
2%
210
200
190
180
3rd Quarter
2009
2010
2011
30
AUDITED CIRCULATION COPIES
July'10 to
ENGLISH
Dec'10
New Straits Times 101,000
New Sunday Times 121,000
BAHASA
Berita Harian
Berita Minggu
Harian Metro
Metro Ahad
(Source: Audit Bureau of Circulation)
150,000
217,000
404,000
452,000
Jan'10 to July'09 to July'08 to
June'10 June'10 June'09
107,513 109,341 120,770
127,591 129,554 141,986
166,400
231,925
398,161
457,331
160,597
231,231
378,354
431,418
183,187
275,143
338,552
386,795
31
0
509
445
2003
2011
2010
2009
625
570
525
630
730
701
650
630
574
721
850
900
2008
2007
2006
2005
2004
466
2002
2001
542
100
2000
200
546
300
1999
1998
1997
475
632
729
942
1000
1996
1995
1994
450
400
1993
495
500
1992
589
700
1991
1990
1989
702
800
1988
531
600
1987
USD/MT
NSTP NEWSPRINT PRICE TREND
32
1100
33
SECTION 2.4 : RADIO NETWORKS
RADIO NETWORKS FINANCIAL RESULTS
RM'000
YTD Q3 2011 YTD Q3 2010
%
GROSS REVENUE
49,373
52,748
(6)
NET REVENUE (AFTER ROYALTIES)
41,206
43,348
(5)
DIRECT COSTS
(142)
(171)
17
CONTRIBUTION
41,064
43,177
(5)
OTHER INCOME
872
558
56
(21,419)
(23,435)
9
EBITDA
20,517
20,299
1
DEPRECIATION
(1,373)
(1,447)
5
PROFIT BEFORE TAX BEFORE EI
19,144
18,852
2
OVERHEADS
EXCEPTIONAL ITEM (EI)
-
(793)
100
TAXATION
(2,837)
(3,650)
22
PROFIT AFTER TAXATION
16,307
14,409
13
EBITDA excluding EI Margin %
50%
47%
PATAMI excluding EI Margin %
40%
35%
34
HOT FM RATINGS
#2
Overall
Malay,
overtaking
Era FM
#1
Source: Nielsen RAM Wave 2, 2011
35
Age 15 - 34
yrs Malay
Source: Nielsen Radio Audience Measurement
FLY FM RATINGS
#2
36
Overall
English
ONE FM RATINGS
#2
37
Overall
Chinese
Age 15-24
38
SECTION 2.5 : OUTDOOR
FINANCIAL RESULTS – OUTDOOR DIVISION
%
RM'000
YTD Q3 2011
YTD Q3 2010
CHANGE
GROSS REVENUE
116,787
105,217
11
NET REVENUE
108,254
99,037
9
DIRECT COSTS
(59,814)
(50,879)
(18)
CONTRIBUTION
48,440
48,158
1
OTHER INCOME
549
496
OVERHEADS
EBITDA
FINANCE CHARGES
11
(13,254)
(12,376)
(7)
35,735
36,278
(1)
-
(9)
100
DEPRECIATION
(6,909)
(6,848)
(1)
PROFIT BEFORE TAX
28,826
29,421
(2)
-
(1,311)
(100)
TAXATION
(7,163)
(7,373)
3
PROFIT AFTER TAX
21,663
20,737
4
EXCEPTIONAL ITEM (EI)
EBITDA EX EI %
33%
37%
PATAMI EX EI %
20%
22%
39
MARKET SHARE RETAINS AT 43%
Entity
As at Sept 2011
2010
%
%
BIG TREE & KURNIA
43
43
Meru Utama
16
10
Seni Jaya
7
8
Spectrum
5
7
Ganad
5
6
Gelombang Jaya
2
6
Others
22
20
Total
100
100
No. 1 Outdoor Group
40
OUR COVERAGE
Jelutong
Expressway
KOTA KINABALU
International
Airport
Banjaran Berjaya
Complex
SPRINT
Highway
KUCHING International
New Pantai
Expressway
Airport
Besraya
Highway
The Outdoor Division holds several exclusive outdoor media rights in:i.
Expressways;
ii.
Transit lines;
ii.
Retail malls;
iii.
Airports; and
iv.
Key city and town sites.
The only Outdoor company with presence all over Malaysia.
More than 8,000 sites throughout Malaysia.
41
DIGITAL ROLL OUT – SURIA KLCC
42
& CONFIDENTIAL
DIGITAL ROLL OUT – KUCHING INTERNATIONAL PRIVATE
AIRPORT
43
44
SECTION 2.6 : NEW MEDIA
NEW MEDIA
MEDIA RESULTS
RESULTS
NEW
OPERATIONAL RESULTS:
Average
Unique
Average Video
ONLINE PAGEAverage
VIEWS,
VISITORS
& VIDEO
VIEWS
Page
Views
Visitors
Views
YTD Q3 2011
(Omniture)
YTD Q3 2011
(Omniture)
YTD Q3 2011
(Omniture)
2,542,310
336,906
178,283
296,733
54,431
-
257,313
48,271
-
225,316
39,786
-
526,831
106,882
-
5,719,625
438,437
1,763,356
Microsites
-
-
755,252
TOTAL
9,568,128
1,024,713
2,696,891
Sites
TV3
8TV
ntv7
TV9
GUA
TONTON
45
ALT MEDIA WEBSITE
Top 10 Malaysian Sites
JUNE 2011
Site
SEPTEMBER 2011
Rank
Total Unique Visitors (000)
Rank
Total Unique Visitors (000)
1
2,485
1
2,611
4
1,744
2
2,089
Maybank Group
2
1,639
3
1,796
Star Publication
3
1,477
4
1,422
Tune Group
7
1,129
5
1,362
Maxis Group
5
1,160
6
1,328
LOWYAT.NET
6
1,146
7
1,078
Utusan Group
-
-
8
995
CARI.COM.MY
9
956
9
983
CIMB Group
10
888
10
970
MUDAH.MY
MPB Group
Our unique visitors in September 2011 increased by 20% with a
number 2 rank increase among Malaysian sites to TOP 3
46
POPULAR PROGRAMS
Total Video Views by Month('000)
Total
Tonton
Berita TV3
Microsite
47
ntv7 News
4,465
3,656
3,185
2,851
2,984
1,748
1,244
837
1,244
837
Jan'11
Feb'11
1,698
1,105
March '11
April'11
2,648
1,315
1,105
1,172
337
239
2,382
1,032
167
May'11
June'11
2,425
1,759
758
122
2,095
250
July'11
590
170
Aug'11
1,444
475
135
41
501
122
Sep'11
1 Oct to 23 Oct'11
Top 10 Programs on TonTon in Q3 2011
(No of Video Views)
496,368
362,545
Kasih Alia
Nora Elena
*As of 23 October 2011
359,014
Annissa
336,866
Stanza Cinta
309,117
Ramadan
Terakhir
305,955
Marimar
280,317
236,798
Tahajjud Cinta
Juvana
214,727
181,460
Princess Hours
Ana Lu'Lu
47
ON-LINE : PORTALS, CATCH-UP TV & MOBILE
LIVE TV
48
48
TONTON GOES MOBILE
AVAILABLE
NOW
iPhone
iOS4 &
above
Blackberry
6 & above
iPad iOS4 & above
Android 2.2
& above
49
NEW FEATURES ON
Tonton
Goes
Social
Chat
Live Comments
Related
Content
&
Resume
Video
Related Content
Resume Video
Twitter Stream
50
NEWSPAPERS ON IPAD
Harian Metro on iPad
NST on iPad
51
52
SECTION 2.7 :
CORPORATE AND OTHER BUSINESSES
CORPORATE & OTHER BUSINESSES – YTD Q3 2011 vs YTD Q3 2010
MPB
R M'000
G ross R evenue
2011
2010
Growth %
Net R evenue (af t er royalt ies)
2011
2010
Growth %
E B I TD A B ef ore E I
2011
2010
Growth %
D epreciat ion &
I nt erest E xpenses
2011
2010
Growth %
PB T / (LB T) B ef ore A ssociat e
B ef ore E I
2011
2010
Growth %
TV 3N
R M'000
GB
R M'000
Ot hers
R M'000
Consol
A djust ment
R M'000
53
Tot al
A ct ual
R M'000
N/A
#
15,314
NA
18,791
14,531
29
3,132
3,090
1
(19,261)
(12,912)
49
2,662
20,023
(87)
N/A
#
15,314
NA
18,791
14,531
29
3,132
3,090
1
(12,991)
(9,248)
(40)
8,932
23,687
(62)
(2,123)
(584)
(>100)
(90,465)
(25,014)
(>100)
(35,921)
(35,091)
(2)
43
229
(81)
(4,177)
1,814
>100
(2,166)
(813)
(>100)
(86,288)
(26,828)
(>100)
51,824
(5,471)
>100
#
139
NA
23,746
22,852
(4)
#
1,262
NA
28,078
(28,323)
>100
#
(1,123)
NA
# TV3N is no longer consolidated and has been disposed in August 2011.
4,843
(4,161)
>100
NA
4,843
(4,161)
>100
19,612
26,157
25
(55,533)
(61,248)
9
SUMMARY OF RESULTS : CORPORATE & OTHER BUSINESSES
Others
•
Recorded PBT compared to LBT in YTD Q3 2010 mainly due to higher dividend
income received in YTD Q3 2011
•
PWS‟s Grand Brilliance garnered revenue of RM11.8 million mainly from the
success of Khurafat which achieved 2nd highest national cinema collection of
RM8 million and Nur Kasih with total collection of RM5 million.
•
„Others‟ segment recorded higher LBT compared to YTD Q3 2010 due to higher
losses incurred by Talent Unit.
54
DIVIDEND
55
•
MPB has a Dividend Pay-Out Policy of 25% - 75% of PATAMI which enables us to provide stable and sustainable
dividends to our shareholders while maintaining an efficient capital structure and ensuring sufficiency of funding
for future growth.
•
Dividends to be paid minimum twice a year, subject to availability of cash flow and funds requirement
•
In 2011, MPB declared an interim dividend of 3 sen in during the 1st half 2011. Subsequently for Q3 2011, MPB
announced that our Board has declared a second interim dividend of 3 sen per share and special dividend of 5 sen
share to be paid at a date yet to be determined.
•
Total dividends declared for the current financial period, stands at 11.0 sen, summarized as below:
Announcement Date
Payment Date
Type
Amount Per Share
18-Nov-11
TBD
Second Interim Single Tier Dividend
3.0 sen
18-Nov-11
TBD
Special Single-Tier Dividend
5.0 sen
24-Aug-11
14-Oct-11
First Interim Single Tier Dividend
3.0 sen
56
SECTION 3 :
OUTLOOK & CONCLUSION
CONCLUSION
57
 A combination of continuing improvement in economic climate during the 1H 2011 and effective cost
management contributed to the improvement in the Group’s results.
 The Group recorded EBITDA (before EI) of RM276.8 million and PATAMI (before EI) from continuing operations of
RM132.7 million.
 Despite the slower sales due to the economic slowdown coupled with the transition period of the new rate card
used, TV Networks’ revenue grew by 6% against YTD Q3 2010. Improved overall viewership share despite stiff
competition and introduction of new channels by paid-TV operators provide opportunity for improvement in future
revenues when market stabilizes.
 NSTP’s Advertising Revenue grew by 17% against YTD Q3 2010 at the back of continued success of Harian Metro
that showed Ad revenue growth of 17%. However, its circulation revenue decreased by 4% against YTD Q3 2010.
Continuous improvement in Malay readership is the main driver for growth in advertising revenue.
 Stiff competition and lower take up of slots from advertisers resulted in the decrease in revenue for Radio Networks.
However, the Group’s flagship radio station, Hot FM showed improvement in terms of listenership leaping into No.2
position among all stations and maintain its No.1 position for age 35 years and below.
 Outdoor continues to post solid financial and operational performance by registering a growth of 11% against YTD
Q3 2010 representing a stable platform with renewals as well as new big ticket customers.
 In light of the proposed disposal, Ghana’s operation has been reclassified to “subsidiaries held for sale”. It registered
an operational loss of RM0.1 million and gain on disposal of RM54k.
COMMITMENT TOWARDS GOOD CORPORATE GOVERNANCE
58
MPB BOARD OF DIRECTORS
The Board has ten (10) members of
which three (3) are Executive
Directors and seven (7) are NonExecutive Directors.
30%
50%
20%
Independent Non-Executive
Non-Independent Non-Executive
Executive
•
The Independent Non-Executive Directors make up 50% of the Board membership.
•
Size of the Board is optimum given the scope and size of the Group.
•
Size of the Board is sufficient to provide for effective decision-making with a substantial
degree of independence from management.
•
All of the Group’s operating companies have separate and independent boards.
•
This practice started since inception (2003).
OUTLOOK FY 2011
MPB GROUP
1st and largest integrated media group in Malaysia & ASEAN.
Strong presence across its media platforms - each entity is a leader in its respective
media platform.
Positive GDP growth an engine to Adex growth – Adex growth usually outgrows GDP
growth
Opportunities for integration - Cross promotions within MPB media platforms
TV NETWORKS
Premium content
Reaching viewers using all available mediums
Investment in quality programming and branding
Increase investment in local content
Drive towards Malaysian content (not only Malay content) for regional and international
markets.
Improved ratings will allow improvement in future revenues
PRINT MEDIA
Distant No. 1, and No. 2 in terms of readership in a growing Bahasa market
Bahasa papers – major & growing contributor to NSTP
RADIO NETWORKS
Hot FM – No.2 among all stations and No. 1 across its key demographics
One FM – Profitable within 18 months in a lucrative Chinese market
OUTDOOR MEDIA
43% market share
New - Digital rollout and airport concessions
NEW MEDIA
The way forward - Opportunity to merge online expertise with strong offline brands
Monetise our online portals & online subscription business
Tonton- World-Class Video Portal
Internet Protocol Television (IPTV) – MPB to be a main content provider – in line with
efforts in making our content available on multiple platforms
Well accepted within the newspaper business (e-Media)
59
MOVING FORWARD

Committed to maintaining industry leadership position and earnings through continued investment and quality
programming, content and branding.

Going forward, further investments will be made to strengthen the programme line-up for the TV Networks.
Content cost is expected to still be within the Group’s expectations. However, will continue to exercise prudent
financial and risk management and stepping up cost management efforts.

Reposition print to maintain its relevance, i.e. NSTP re-launched and revamped its English paper, NST in
November

Continue efforts in realising value of investments in NSTP and Kurnia.

Improving the revenue generating capacity

Improving the operating efficiencies and synergy within the Group’s stable of media assets.

Will continue to look at investment opportunities (earnings accretive and media related) to enhance business
activities and earnings potential.

The management is cautiously optimistic that with the strategies put in place, the Group should be able to
sustain its financial performance. However, the Group is cognisant of the continued soft outlook of the economy
and challenges facing the Group. Management is committed to counter such challenges by executing the
appropriate measures where possible
60
AN INTEGRATED MEDIA GROUP
61
TV
NEWSPAPER
LARGEST reach in
terms of newspaper
circulation and
readership in
Peninsular Malaysia
LARGEST reach in
terms of TV
viewership
RADIO
#2nd LARGEST reach
in terms of
combined radio
channel listeners’
numbers
NSTP’S
OUTDOOR
NEW MEDIA
One of the LARGEST
share of advertising
revenue in the
outdoor media
industry
Media avenue
reaching out to
INTERNET based
viewership
Content Creation
<----------------- Boasts the Widest Multimedia Distribution Offering on a Single Integrated Platform ----------->
THANK YOU
For information
www.mediaprima.com.my
Inquiries, Suggestions and Comments
investor@mediaprima.com.my
62

IB Q3 2011

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