LAMBRAKIS PRESS GROUP

Transcription

www.dol.gr
The leading media group in Greece
12M-2007-E
Established in 1922
1
Group milestones
1922 - Journalist Dimitrios Ch. Lambrakis launches the newspaper “TO VIMA”
and in 1931 launches the daily newspaper “TA NEA”
•
1954 - Lambrakis Press enters into magazine publishing
•
1988 - Lambrakis Press commences its international partnerships launching “Marie Claire” followed by
“Cosmopolitan” and “National Geographic” magazines
•
1989 - “Mega” TV channel is founded with Lambrakis Press as co-founder
•
1998 - Lambrakis Press shares are listed on the Athens Stock Exchange
•
1999 - Lambrakis Press enters into the internet sector launching the portal www.in.gr
12M-2007-E
•
2
12M-2007-E
Publishing
Publishing
The
The largest
largest publisher
publisher of
of newspapers
newspapers and
and magazines
magazines
2,636,000
2,636,000 readers
readers nationwide.
nationwide.
Printing
Printing
The
The largest
largest vertically
vertically integrated
integrated industrial
industrial printing
printing facility
facility
Digital
Digital pre-press
pre-press infrastructure
infrastructure
Electronic media
media
Electronic
TV
TV station,
station, TV
TV production
production studios,
studios, internet
internet portals
portals
Media-related
Media-related
participations
participations
Press
Press distribution,
distribution, book
book publishing,
publishing, bookstores
bookstores
Other activities
activities
Other
Travel
Travel agencies
agencies
3
The Group in figures
3 daily newspapers
3 weekend editions
24 magazines
86 years of journalism
2,550 employees
11,800 points of sale
2,636,000 readers*
12M-2007-E
282,000,000 euros in annual consolidated sales
298,000,000 euros in consolidated assets
(*) Readership figure excludes duplicate readers across all publications
4
Integrated presence in all media production layers
Content
Production
12M-2007-E
Distribution
Added value
media-related
business
Content creation for newspapers
and magazines
Internet
content
Pre-press
Printing, post printing
Internet
hardware
infrastructure
Press distribution
Internet
portals
TV studio, bookstores, book publishing
5
The Group’s media scope
Daily
newspapers
Television
Weekend
newspaper
editions
12M-2007-E
Sports dailies
Variety and
lifestyle magazines
Scientific and
special interest
magazines
Internet
news portal
Weekend
supplement
magazines
6
Profile
9 The largest and most influential publisher in the newspaper and magazine market
9 The most extensive content production in Greece
9 Excellent brand name recognition and brand loyalty
9 Unique product mix in publishing titles and publishing sector services
9 Successful long-term international partnerships
9 The largest vertically integrated publishing and printing group in Greece
9 Significant investments in publishing and printing high-end technology
12M-2007-E
9 High degree of digital technology absorption and know-how
7
Strategic priorities
Maintain top position in the Greek newspaper and magazine market
¾
Focus on circulation and maximize advertising revenues
¾
Develop complementary sales exploiting the strong brand profile
¾
Build on accrued know-how in digital media
¾
Exploit opportunities in other media sectors and niche markets
(radio station and sports newspapers)
¾
Capitalize on the strategic restructuring of the Group
and focus on media sector business
¾
Improve the return on invested capital
12M-2007-E
¾
8
Publishing
sector
Lambrakis Press Group
Newspapers
VIMAgazino
Weekly variety
magazine
VIMADeco
Monthly decoration
magazine
TO VIMA TIS KYRIAKIS
Sunday newspaper
Sales:
Sales: 202.000
202.000 copies
copies
Readership:
Readership: 776.000
776.000
The leading Sunday newspaper
VIMADonna
Monthly women’s
magazine
Gourmet
Vmen
Monthly men’s
magazine
Monthly gourmet
magazine
TO
TO VIMA
VIMA
12M-2007-E
Morning
Morning daily
daily newspaper
newspaper
Sales:
Sales: 16.000
16.000 copies
copies
Readership:
Readership: 67.000
67.000
Books
Ad-ons
VIMA Ideon
Monthly cultural supplement
9
Publishing
sector
Newspapers (cont’d)
(cont’d)
TA NEA Evening daily newspaper
Readership: 195.000
Encyclopaedia and real estate supplements
The leading Greek daily
Sales: 65.000
TA NEA Weekend edition
(ad-ons)
Tachydromos
Weekend variety magazine
Ntv
TV guide
12M-2007-E
Readership: 195.000
Books
10
Publishing
sector
Newspapers (cont’d)
(cont’d) –– Regionals
Regionals
AGELIOFOROS
AGELIOFOROS
Local daily in Salonica
TIS KYRIAKIS
Sunday variety
supplementary magazine
12M-2007-E
Local Sunday in Salonica
11
Publishing
sector
Complementary sales
New revenue streams from branded complementary products
Great Greek Painters
12M-2007-E
(11
(11 volumes)
volumes)
Regional Maps of Greece
(54
(54 volumes)
volumes)
Disney Cinema
(20
(20 volumes)
volumes)
TO VIMA Library
International literature
(30 volumes)
Treasures of Greece
(16
(16 volumes)
volumes)
Four Centuries of Opera
(25
(25 volumes)
volumes)
12
Variety
Variety and
and lifestyle
lifestyle magazines
magazines
Marie Claire
Women’s monthly
Cosmopolitan
Women’s monthly
Sales: 33.400 copies
Readership: 316.000
(normal & pocket)
Readership: 532.000
TV Zapping
Weekly TV Guide
Readership: 318.000
Free
Variety monthly
Readership: 203.000
Close Up
Diakopes
Monthly variety in Salonica
(“Vacations”)
Annual travel guide
12M-2007-E
Readership: 630.000
Sales: 5.200 copies
Gamos
(“Wedding”)
Semi-annual wedding guide
Sales: 9.300 copies
Readership: 133.000
13
Scientific
Scientific and
and special
special interest
interest magazines
magazines
To Paidi mou
ki Ego (“My Child & I”)
National
Geographic
Disney
magazines
Monthly for parents
Monthly
14 cartoon magazines
Readership: 167.000
Readership: 369.000
HiTECH
RAM
Home electronics
monthly
Computer monthly
Readership: 167.000
RAMkid
Computing for kids
Monthly
Health & fitness monthly
Readership: 243.000
DVD Guide
Annual guide
Sales: 2.800 copies
12M-2007-E
Readership: 43.000
Vita
14
The Greek newspaper market (annual volumes in million copies)
Titles
200
150
Daily papers
118,9
116,7
Lambrakis Press
105,5
98,6
92,5
100
Total Greek newspaper sales 2007
(financial and sports papers excluded)
Others
43%
50
23
0
28,4
2003
23
30,1
2004
Titles
24
25,5
2005
Sunday editions
23
24,9
20
2006
22,8
2007
Lambrakis Press
Second
largest
publisher
18%
59,9
58,6
57,3
Lambrakis
Press
24%
Third largest
publisher
15%
51
46,1
50
22
12M-2007-E
11
0
2003
23
23
22
22
11,9
2004
11,2
2005
10,8
2006
Source: Daily Athens Newspapers’
Newspapers’ Publishers Association – Excluding sports and financials.
10,4
2007
15
Nominal
Nominal attracted
attracted ad
ad revenue
revenue (in
(in €€ million,
million, 2007)
2007)
Publishing
sector
Others 66%
Newspapers
3rd
largest
publisher
9%
12%
2nd largest
publisher
3rd largest
publisher
Others 59%
12%
Magazines
13%
15%
14%
Largest
publisher
Others 65%
12M-2007-E
Total market
3rd largest
publisher
10%
12%
13%
2nd largest
publisher
(*) The magazine sector includes magazines supplementing newspapers
Source: Media Services SA, 2007 gross data before barter agreements and discounts
16
Printing
sector
Vertically integrated industrial printing facility
Digital
pre-press
ª
ª printing
printing
ª
ª inserting
inserting
ª
ª binding
binding
MULTIMEDIA S.A.
Digital pre-press
IRIS
IRIS PRINTING
PRINTING S.Α.
S.Α. (50%
(50% owned)
owned)
Commercial
Commercial web
web presses
presses for
for newspapers
newspapers and
and magazines
magazines
Cut
Cut sheet
sheet presses
presses
Computer-to-plate
Computer-to-plate (CTP)
(CTP) technology
technology
NORTHERN
NORTHERN GREECE
GREECE PUBLISHING
PUBLISHING S.A.
S.A.
((33.3%
33.3% owned
owned))
12M-2007-E
Commercial
Commercial web
web presses
presses for
for newspapers
newspapers and
and magazines
magazines
17
Printing
sector
Industrial printing facilities and infrastructure
«Koropi» plant
Newspaper and magazine web printing plant
The largest, fully integrated industrial printing facility in Greece
Installed capacity:
¾ Six (3 twin) newspaper web presses with total capacity of 180,000 newspapers per hour
¾ One 4-color 32-page high speed web press with a capacity of 55,000 32-page copies per hour
¾ Vertically integrated installations for automated paging, binding, finishing and mailroom functions
12M-2007-E
¾ Installed CTP technology
18
Distribution
ARGOS Press Distribution Agency S.A. (38,7% owned)
¾
The largest press distribution infrastructure in Greece
¾
Co-founded by Lambrakis Press in 1999
ARGOS distributes:
¾ Over 2,000 active titles (newspapers and magazines)
¾ From 350 publishers
12M-2007-E
¾To 11,800 points of sale all over Greece
19
Internet
sector
The Greek Internet: Still in infancy
Metric
Greece
EU-25
Internet penetration
25%
47%
Broadband penetration
8%
18%
0,7%
4%
5%
21%
Internet share in total ad market
E-commerce penetration
Characteristics:
– The market is still small and narrow, but started accelerating in late 2006
– Limited content production leaves broadband penetration unleveraged
12M-2007-E
– International competition from global players is growing
– The lag in government investment results in slower growth
Source:
Source: Greek
Greek ICT
ICT Observatory,
Observatory, Eurobarometer
Eurobarometer
20
Internet
sector
Today Lambrakis Press holds the single most important presence in the Greek Internet Space (excluding ISPs)

Portals and content: www.in.gr
¾
The top Greek internet destination
¾
Premier producer of Greek content
¾
Reaches over 90% of the Greek internet population with more than 2 million unique visitors per month
¾
Services: News, search, mail, financial, premium paid services, video, internet mobile services.
¾
Steady growth, steadily on top
Millions
in.gr: unique visitors per month (million)
Top Greek news portals
(unique visitors per day)
2,5
in.gr
2,0
337.000
(86,7% Lambrakis Press)
naftemporiki.gr
42.000
1,0
(financial news portal)
0,5
flash.gr
40.000
pathfinder.gr
26.000
Sep 07
Mar 07
Sep 06
Mar 06
Sep 05
Mar 05
Sep 04
Mar 04
Sep 03
Mar 03
Sep 02
Mar 02
Sep 01
Mar 01
0,0
Sep 00
12M-2007-E
1,5
(50% Lambrakis Press)
21
Internet
sector
Newspaper content on line (tovima.gr, tanea.gr)
¾ Enhanced websites of newspapers (over 200,000 unique visitors per month)
¾ Full content of printed editions available on line
¾ Subscription-based access to 10-year historical archives of newspapers (June 2007)
¾ Development of new digital services with improved functionality (early 2008)
¾ On line classifieds (January 2008)

Digitization and Cataloging
¾
Very high level of specialized know-how in digitization and cataloging projects
¾
Partner in various large scale digitization projects involving sensitive high-value data
¾
Digitization and cataloging of Lambrakis Press historical archives from 1922 onwards.

E-commerce
¾
shop21.gr: The on-line store for CD/DVDs, books, electronics etc.
12M-2007-E
Sales to Greece and abroad

Own infrastructure
¾
In-house developed and maintained content, services and e-commerce platforms
22
Tourism
sector
EUROSTAR S.A.
(Travel
(Travel Plan
Plan brand)
brand)
The
The leading
leading name
name in
in travel
travel agencies
agencies in
in Greece
Greece
Outbound tourism
¾
Incentive tours
(servicing the top corporate clients in Greece)
¾
Business trips
(more than 8,000 trips organized annually)
¾
Individual Travel
(over 15,000 customized travel packages)
¾
Ticketing
Inbound tourism
12M-2007-E
¾ Customized programs
¾ Leisure tours
23
Participations
sector
Free-to-air television
“Mega” channel
TILETYPOS S.A.
(Pegasus
(Pegasus SA
SA 24%,
24%, Lambrakis
Lambrakis Press
Press SA
SA 22.1%,
22.1%, BNP
BNP Paribas
Paribas Private
Private Bank
Bank 4.7%,
4.7%, Eurofinanciere
Eurofinanciere d’
d’ Invetissement
Invetissement Monaco
Monaco 4%)
4%)
The leading TV station in Greece
Program mix and news coverage that steadily attracts top viewership
Strong market share
Attracted ad spending
Total viewership
(Jan-Aug. 2007 in million euros)
(market share Jan-Aug. 2007)
12M-2007-E
Channel
Ad spending
Market share
Channel
Total daily
News
Prime time
Mega
171,8
30,0%
Mega
19,1%
21,1%
24,4%
Antenna
138,0
24,1%
Antenna
16,9%
18,6%
15,8%
Star
92,5
16,1%
Star
13,5%
15,7%
13,6%
Alpha
85,4
14,9%
Alpha
10,9%
14,1%
9,8%
Other
85,9
15,0%
Other
39,6%
39,6%
39,6%
573,6
100,0%
100,0%
100,0%
100,0%
Total market
Total market
24
Participations
sector
Media-related holdings
TV studios, book publishing, bookstores
TV production studio
STUDIO ATA S.A. (99.5% owned)
¾
One of the largest and most active studios in Greece
¾ Production of quality TV serials and shows
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Book publishing and selling
ELLINIKA GRAMMATA S.A.
¾
(wholly owned)
¾ Among the oldest and most eminent publishing houses
Publishes more than 100 new Greek and international titles annually
¾ Long cooperation with renowned Greek writers
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Retail bookstore chain
12M-2007-E
PAPASOTIRIOU S.A. (30% owned)
¾
The largest general-interest and scientific bookstore chain
¾ 25 retail outlets all over Greece
25
Recent developments
¾ Holding in TILETIPOS SA increased to 22%
(stock bought through the Athens Stock Exchange in early 2006)
¾ Holding in ELLINIKA GRAMMATA SA increased to 100%
(49% bought from minority shareholders)
¾ Organizational restructuring implemented in late 2006
(Lambrakis Press employed consulting firm McKinsey & Co for its restructuring project
that yielded the new organizational structure and a three-year business development plan)
¾ Investment in PaperPack-Tsoukaridis SA sold in July 2007
(Lambrakis Press sold its 35% stake in the company)
¾ Investment in Action Plan SA sold in October 2007
(Lambrakis Press sold its 85% stake in the company)
¾ Launching of new daily sports newspaper
12M-2007-E
(“Exedra” launched in March 2007)
26
12M-2007-E
The corporate structure
27
Quick wins
Reduction of returned copies
Ad revenues (net)
57
Complementary sales
14
56
56,5
13,8
12
(cost savings in euros)
Publication
Cost savings
TO VIMA
424.000
TA NEA
187.000
55
10
Magazines
123.000
54
8
Total
734.000
6
53
4
52
52,4
2
Reduced borrowing
4,6
1,6
(increased liquidity)
0,5
Borrowing reduced by
51
0
2006
50
2007
Sales
Parent company
4,9 million
The group
7 million
Profit
12M-2007-E
2006
2007
28
Key
Key financial
financial data
data
Consolidated key P&L data 2005 – 2007
(in million euros)
EBITDA
Turnover
300
295
296,3
290
18
0
16
-1
14
-2
12
285
EBT
13,1
12,3
282,1
275
265
2006
-5
5,3
4
270
2005
-4
8
6
276,7
2007
-0,3
-3
10
280
-1,6
-6
2
-7
0
-8
2005
2006
2007
-7,1
2005
2006
2007
12M-2007-E
From 2006 onwards IRIS Printing SA was consolidated proportionally due to the reduction in DOL’s investment from 70% to 50%.
29
Key
Key financial
financial data
data
Parent company key P&L data 2005 – 2007
(in million euros)
Turnover
EBITDA
1
148
146
147,0
144
142
6
0,9
1
5
0
140
-0,9
134
-1,3
132
2007
2007
0
2005
2006
2007
2005
12M-2007-E
2006
1
0,7
-2
2005
2006
2
-1
130
5,1
3
-1
136,7
5,5
4
140,4
138
136
EBT
30
Key
Key financial
financial data
data
Consolidated turnover and EBITDA breakdown per sector
(in million euros)
Sales per sector
EBITDA per sector
20
300
5,3
34,7
250
15
45,1
200
10
0,5
38,8
2
150
5
6,3
100
158,2
0
-1,7
50
-1,6
0
-5
12M-2007-E
2007
Publishing
Printing
Participations
Digital
2007
Tourist
Publishing
Printing
Participations
Digital
Tourist
From 2006 onwards IRIS Printing SA was consolidated proportionally due to the reduction in DOL’s investment from 70% to 50%.
31
12M-2007-E
32