RCS MediaGroup dati 2009

Italian Investor Conference 2010 New York – 12th and 13th April, 2010

Agenda Who we are Market trends Efficiency Enhancement Program 2009 Full Year Results and EEP Update Details by Business Unit 2

Who we are 3

Advertising Italy: FY09 and Q409 Market Trends Advertising Gross Revenues, Million Euro YoY growth 58 9,690 8,413 -13.2% -6.2% 227 557 Cinema 56 473 Outdoor 170 585 +5.1% +4.5% +10.6% +19.0% Internet 1,232 436 Radio Magazines 878 -28.7% -28.6% -28.3% -25.0% 1,676 Newspapers* 1,408 -16.0% -6.2% -18.3% -5.8% -16.8% Q409 vs Q408 Excl. even numbered years sports events 4,851 TV 4,359 -10.2% -1.8% Q409 vs Q408 Other 616 Other 521 FY08 FY09 FY09 vs FY08 TOTAL MARKET RCS * Excluding Free Press Source: Nielsen Media Research 5

Advertising Spain: FY09 and Q409 Market Trends Advertising Gross Revenues, Million Euro YoY growth 6,648 5,058 -23.9% -13.7% 22 410 167 596 Cinema Outdoor 14 731 294 Internet 172 +3.2% +5.6% +2.6% +18.2% Radio 502 -15.8% -11.3% -15.5% +6.2% Magazines* 503 -31.1% -15.6% -30.9% -18.9% 1,576 Newspapers 1,158 -26.5% -22.1% -26.6% -8.7% -25.3% Excl. even numbered years sports events 3,146 TV 2,414 -23.3% -10.1% +100.2% +123.6% DTT TV Q409 vs Q408 Q409 vs Q408 FY08 FY09 FY09 vs FY08 TOTAL MARKET RCS * Including Sundays Source: i2p on Arce Media Elaboración Media Hotline 6

Italian Newspapers Circulation: RCS vs. Market Circulation, copies/000 per day YoY growth (1) National Newspapers -13.6% -13.5% 1,175 1,015 613 530 FY08 FY09 FY08 FY09 Sport Newspapers 5 -8.3% 38 -8.7% 721 661 380 347 FY08 FY09 FY08 FY09 MARKET RCS (1) Includes la Repubblica and Corriere della Sera Source: ADS + Internal Estimates 7

Italy – Online Readership YoY growth Workday Unique Users Monthly Unique Visitors Thousand Users Million Users 1,285 +32.8% 16.6 1,048 12.5 812 606 368 % 286 +35.1 CAGR 2004 2005 2006 2007 2008 2009 Feb 2009 Feb 2010 Million Users Thousand Users +29.3% 9.7 768 645 7.5 514 335 % 234 +35.5 168 CAGR 2004 2005 2006 2007 2008 2009 Feb 2009 Feb 2010 Source: Nielsen Online – SiteCensus 8

Spain Newspapers Circulation: RCS vs. Market Circulation, copies/000 per day, Dec 08 – Dec 09 YoY growth Generalist Newspapers (1) 1,733 -6.4% 1,622 -7.2% 324 300 FY08 FY09 FY08 FY09 Sport Newspapers 722 -2.2% 706 -4.1% 296 284 FY08 FY09 FY08 FY09 Financial Newspapers 101 -12.7% 88 51 -14.0% 44 FY08 FY09 FY08 FY09 MARKET RCS (1) Includes newspapers with circulation > 100,000 copies Sources: OJD, Observatorio de Prensa Diaria 9

Spain – Online Readership Million Users YoY growth Workday Unique Users +26.2% +35.7% 1.6 1.8 1.3 1.3 +39.9% 0.1 0.2 2008 2009 2008 2009 2008 2009 Monthly Unique Visitors +40.9% +45.4% 22.3 18.7 15.8 12.8 +83.6% 1.0 1.9 Dec 08 Dec 09 Dec 08 Dec 09 Dec 08 Dec 09 Source: Nielsen Net Rating (OJD) 10

Efficiency Enhancement Program - Timing Million Euro May 14, 2009: Efficiency Enhancement Program launched to preserve profitability against the downturn in adv. market Total Recovery = 200 mln 70 239 130 169 39 2008 2009 additional 2009 cumulative “steady state” “steady state” Savings savings estimate savings estimate additional savings cumulative savings estimate estimate steady state = aprox. 24 months 12

2009 Full Year Results - Summary Million Euro 4Q09 4Q08 Yo Y% FY 2009 FY 2008 Yo Y% (1) Total Revenues 585,3 100% 701,8 100% ( 16 ,6 %) 2.206,4 100% 2.659,5 100% ( 17,0 %) (1) EBITDA ex Non Recurring Item s 69,9 11,9% 109,4 15,6% ( 3 6 ,1%) 133,0 6,0% 270,6 10,2% ( 50 ,8 %) Non Recurring Items (64,5) (14,0) (97,3) (23,3) (1) EBITDA 5,4 0,9% 95,4 13,6% ( 9 4 ,3 %) 35,7 1,6% 247,3 9,3% ( 8 5,6 %) (1) EBIT (40,8) (7,0%) 51,9 7,4% ns (97,1) (4,4%) 130,1 4,9% ns Net Result (56,5) (9,7%) 18,0 2,6% ns (129,7) (5,9%) 38,3 1,4% ns NFP (1.057,1) (1.146,8) 158.7 mln related to the Efficiency Enhancement Program (1) The 2008 figures are restated: the UE’s printing activities, La Coccinella and Economica SGPS are included as discontinued operations 14

Efficiency Enhancement Program – Update Million Euro Efficiency Enhancement Program 2009Targeted 2009Targeted 2009Reported 2009Reported Steady State Steady State 130 158.7 200 2010/11 2010/11 70 70 28.7 During the 2009 were achieved €158.7mln, €28.7mln over the targeted €130mln from the EEP 2009 2009 130 130 15

2009 Full Year Results - Profit & Loss Million Euro 4Q09 4Q08 (1) FY09 FY08 (2) Circulation 295,7 50,5% 362,1 51,6% 1.216,7 55,1% 1.406,0 52,9% Advertising 212,9 36,4% 259,8 37,0% 709,7 32,2% 942,1 35,4% Other 76,7 1 % 3,1 79,9 1 ,4% 1 280,0 12,7% 311,4 1 ,7% 1 TOTAL REVENUES 585,3 10 0 % 701,8 10 0 % 2.206,4 10 0 % 2.659,5 10 0 % Operating costs (390,4) (66,7%) (470,3) (67,0%) (1.573,7) (71,3%) (1.868,6) (70,3%) Labour costs (ex non recurring costs) (115,6) (19,8%) (107,2) (15,3%) (469,5) (21,3%) (492,1) (18,5%) Writedowns (4,1) (0,7%) (11,1) (1,6%) (17,7) (0,8%) (20,7) (0,8%) Provisions (5,3) (0,9%) (3,6) (0,5%) (12,5) (0,6%) (7,5) (0,3%) EBITDA ex Non Recurring Items 69,9 11,9 % 109,4 15 ,6 % 133,0 6 ,0 % 270,6 10 ,2 % Non Recurring Items (64,5) (1 ,0%) 1 (14,0) (2,0%) (97,3) (4,4%) (23,3) (0,9%) EBITDA 5,4 0 ,9 % 95,4 13 ,6 % 35,7 1,6 % 247,3 9 ,3 % D&A (27,2) (4,6%) (28,7) (4,1%) (99,5) (4,5%) (102,4) (3,9%) Writeoffs (15,1) (2,6%) (14,8) (2,1%) (19,3) (0,9%) (14,8) (0,6%) Non Recurring Items (3,9) (0,7%) 0,0 0,0% (14,1) (0,6%) 0,0 0,0% EBIT (40,8) ( 7 ,0 %) 51,9 7 ,4 % (97,1) ( 4 ,4 %) 130,1 4 ,9 % Net financial incomes (charges) (7,0) (1,2%) (20,6) (2,9%) (33,3) (1,5%) (64,9) (2,4%) Income (charges) from investments 1,7 0,3% 4,2 0,6% (2,9) (0,1%) (6,7) (0,3%) PRE-TAX RESULT (46,1) ( 7 ,9 %) 35,5 5 ,1% (133,4) ( 6 ,0 %) 58,5 2 ,2 % Taxes (4,2) (0,7%) (12,8) (1,8%) 15,8 0,7% (29,6) (1 %) ,1 Net Result from Discontinuing and Discontinued Op. 0,0 0,0% 0,2 0,0% (5,9) (0,3%) 15,8 0,6% Minorities (6,2) (1 %) ,1 (4,9) (0,7%) (6,2) (0,3%) (6,4) (0,2%) NET RESULT (56,5) ( 9 ,7 %) 18,0 2 ,6 % (129,7) ( 5 ,9 %) 38,3 1,4 % (1) The costs and revenues of UE’s printing activities and La Coccinella are included as discontinued operations (2) The costs and revenues of UE’s printing activities, La Coccinella and Economica SGPS are included as discontinued operations 16

2009 Full Year Results – Breakdown Revenues & Ebitda Million Euro (1) (1) FY09 FY09 EX Non Recurring Items FY08 FY08 EX Non Recurring Items Revenues EBITDA ROS% Revenues EBITDA ROS% Revenues EBITDA ROS% Revenues EBITDA ROS% Newspapers Italy 621,5 11,4 1,8% 621,5 52,8 8,5% 711,3 99,8 14,0% 711,3 103,4 14,5% Newspapers Spain 511,7 12,4 2,4% 511,7 22,5 4,4% 635,5 51,1 8,0% 635,5 58,3 9,2% Magazines 246,4 (6,7) (2,7%) 246,4 4,7 1,9% 313,0 18,5 5,9% 313,0 22,3 7,1% Advertising 435,8 (11,0) (2,5%) 435,8 (8,7) (2,0%) 617,1 1,0 0,2% 617,1 5,7 0,9% Books 579,1 30,5 5,3% 579,1 46,5 8,0% 690,0 53,7 7,8% 690,0 53,9 7,8% Dada 155,1 16,0 10,3% 155,1 19,7 12,7% 170,2 27,0 15,9% 170,2 27,0 15,9% Digicast 27,6 11,0 39,9% 27,6 11,5 41,7% 27,0 10,2 37,8% 27,0 11,2 41,5% Corporate Activities 58,8 (26,5) ns 58,8 (14,6) ns 59,7 (13,4) ns 59,7 (10,6) ns Others and eliminations (429,6) (1,4) ns (429,6) (1,4) ns (564,3) (0,6) ns (564,3) (0,6) ns TOTAL RCS 2.206,4 35,7 1,6% 2.206,4 133,0 6,0% 2.659,5 247,3 9,3% 2.659,5 270,6 10,2% (1) The costs and revenues of UE’s printing activities, La Coccinella and Economica SGPS are included as discontinued operations 17

2009 Full Year Results - Cash Flow Variance Million Euro ow 9 Fl 9 00 sh 00 .2 on s Ca .2 . 01 iti al s s .1 2 01 nd g qu is os EX id e at in e rs 31 P sp AP iv er th P NF Ac Di C D O p O NF UE’s Printing Activities 39 mln Building Disposal (Spain) 19 mln Non Core Assets (France) 9 mln +90 -1.147 -12 +70 -55 +1 +115 -29 -1.057 2008 -966 -143 +30 -114 -81 +113 +14 -1.147 Total Credit Line of 1.9 bn, of which over 1.0 bn secured until 2013 with no Covenants 18

Headcount (as of Dec 31, 2009) 2008 Recovery Plan New Media Δ Portfolio 2009 -387 +66 -289 RCS 6.132 5.522 -610 Dada 569 +24 593 Totale 6.701 -586 6.115 19

Balance Sheets Million Euro 31.12.2009 31.12.2008 Net fixed assets 2.357,4 110,1% 2.443,1 103,4% Tangible & Intangible fixed assets 1.996,0 93,2% 2.152,7 91,1% Financial fixed assets 361,4 16,9% 290,4 12,3% Net working capital 119,6 5,6% 224,1 9,5% Reserve for risks and charges (257,5) (12,0%) (214,7) (9,1%) Employee termination indemnity (78,8) (3,7%) (88,8) (3,8%) CAPITAL EMPLOYED 2.140,7 100,0% 2.363,7 100,0% Net financial debt (cash) 1.057,1 49,8% 1.146,8 48,5% Equity 1.083,6 50,2% 1.216,9 51,5% EQUITY & NFD 2.140,7 100,0% 2.363,7 100,0% 20

Priorities 2009 - Achievement Digital Revenues Development Cost Discipline 2009 EEP: 158.7 mln achieved > 130 mln targeted Efficient Cash Flow Management Debt reduction: 2009 Operation Cash Flow of 115 mln in line with 2008 despite adverse scenario 21

Newspapers Italy – P&L 360.8 mln monthly page views Circ. 530,000 avg. daily copies 16.6 mln monthly unique users Read. 2,906,000 per day Circ. 850,000 avg. daily copies 360.5 mln monthly page views Circ. 347,000 avg. daily copies Read. 1,986,000 per day 9.7 mln monthly unique users Read. 3,706,000 per day Nielsen Online, SiteCensus, ADS + Internal Estimates, Audipress Million Euro 4Q09 4Q08 YoY FY09 FY08 YoY Circulation 73,1 88,5 (17,4%) 318,9 359,6 (11,3%) Advertising 83,9 86,5 (3,0%) 275,4 325,2 (15,3%) Other 6,6 5,0 32,0% 27,2 26,5 2,6% TOTAL REVENUES 163,6 180,0 (9,1%) 621,5 711,3 (12,6%) O/W Add-ons 24,5 33,9 (27,7%) 105,8 125,0 (15,4%) EBITDA ex NR Items 18,7 30,2 (38,1%) 52,8 103,5 (49,0%) Non Recurring Items (31,1) (3,7) (41,4) (3,7) EBITDA (12,4) 26,5 >(100%) 11,4 99,8 (88,6%) 23

Newspapers Spain - P&L Circ. 300,000 avg. daily copies Circ. 284,000 avg. daily copies Circ. 44,000 avg. daily copies Read. 1,309,000 per day Read. 2,800,000 per day Read. 194,000 per day 339 Mln monthly page views 444 mln monthly page views 19.3 mln monthly page views 22.3 mln monthly unique users 18.7 mln monthly unique users 1.9 mln monthly unique users OJD, Infoadex, EGM Million Euro (1) (2) 4Q09 4Q08 YoY FY09 FY08 YoY Circulation 63,7 79,8 (20,2%) 264,1 300,1 (12,0%) Advertising 61,8 69,6 (11,2%) 199,3 269,4 (26,0%) Other 13,9 18,9 (26,5%) 48,3 66,0 (26,8%) TOTAL REVENUES 139,4 168,3 (17,2%) 511,7 635,5 (19,5%) O/W Add-ons 5,1 14,6 (65,1%) 27,4 59,9 (54,3%) EBITDA ex NR Items 19,9 21,4 (7,0%) 22,5 58,3 (61,4%) Non Recurring Items (1,0) (2,8) (10,1) (7,2) EBITDA 18,9 18,6 1,6% 12,4 51,1 (75,7%) (1) The costs and revenues of UE’s printing activities are included as discontinued operations. (2) The costs and revenues of UE’s printing activities and Economica SGPS are included as discontinued operations. 24

Magazines - P&L 9 weekly magazines (100%) (100%) (100%) (100%) 22 monthly magazines New Media Million Euro 4Q09 4Q08 YoY FY09 FY08 YoY Circulation 21,0 25,8 (18,6%) 94,8 107,3 (11,6%) Advertising 37,1 51,1 (27,4%) 118,7 168,7 (29,6%) Other 9,2 12,1 (24,0%) 32,9 37,0 (11,1%) TOTAL REVENUES 67,3 89,0 (24,4%) 246,4 313,0 (21,3%) (1) EBITDA ex NR Items 6,0 14,4 (58,3%) 4,7 22,3 (78,9%) Non Recurring Items (9,9) (3,0) (11,4) (3,8) EBITDA (3,9) 11,4 >(100%) (6,7) 18,5 >(100%) 25

Books - P&L Million Euro 4Q09 4Q08 YoY FY09 FY08 YoY Fiction & non-Fic. Italy 34,4 56,3 (38,9%) 145,2 175,4 (17,2%) Education 19,9 18,1 9,9% 98,0 97,2 0,8% Flammarion 61,9 68,2 (9,2%) 200,7 211,6 (5,2%) Partworks 24,9 30,1 (17,3%) 116,5 185,9 (37,3%) Rizzoli International 7,5 7,5 0,0% 18,4 19,9 (7,5%) Other 0,0 (0,3) ns 0,3 0,0 ns TOTAL REVENUES 148,6 179,9 (17,4%) 579,1 690,0 (16,1%) EBITDA ex NR Items 26,3 33,0 (20,3%) 46,5 53,9 (13,7%) Non Recurring Items (13,3) 1,0 (16,0) (0,2) EBITDA 13,0 34,0 (61,8%) 30,5 53,7 (43,2%) 26

Digicast TV Activities - P&L Million Euro 4Q09 4Q08 YoY FY09 FY08 YoY Advertising 0,9 0,7 28,6% 3,5 2,3 52,2% Other 5,8 6,3 (7,9%) 24,1 24,7 (2,4%) TOTAL REVENUES 6,7 7,0 (4,3%) 27,6 27,0 2,2% EBITDA ex NR Items 3,2 1,6 >100% 11,5 11,2 2,7% Non Recurring Items (0,1) (1,0) (0,5) (1,0) EBITDA 3,1 0,6 >100% 11,0 10,2 7,8% 27

Disclaimer Investor Relations Department Federica De Medici Leonardo Taronna +39 02 2584 5508 +39 02 2584 4787 federica.demedici@rcs.it leonardo.taronna@guest.rcs.it Forward-looking Statements Statements contained in this document, particularly the ones regarding any RCS MediaGroup possible or assumed future performance, are or may be forward looking statements and in this respect they involve some risks and uncertainties. RCS MediaGroup actual results and developments may differ materially from the ones expressed or implied by the following statements depending on a variety of factors. Any reference to past performance of RCS MediaGroup shall not be taken as an indication of future performance. This communication does not constitute an offer or solicitation for the sale, purchase or acquisition of securities of any of the companies mentioned in any jurisdiction and is directed to professionals of the financial community. Riccardo Stilli, the Manager responsible for drawing up the company’s accounting statements, hereby declares, pursuant to article 154-bis, paragraph 2 of the “Testo Unico della Finanza” (Legislative Decree n. 58/1998), that the information contained in this presentation corresponds to those one contained in the group’s documents and books accounting records. 28

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RCS MediaGroup dati 2009

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RCS MediaGroup dati 2009 — Presentation Transcript