- Sales were up 3% in Q4 and 6% for the full year at constant exchange rates. EBIT before non-recurring items was SEK 551 million in Q4 and SEK 1,933 million for the full year.
- Net income was negatively impacted by SEK 3.2 billion in non-recurring impairment charges in Q4.
- The Board of Directors proposed increasing the annual dividend to SEK 9.00 per share and adopting a dividend policy to distribute at least 30% of recurring net profit to shareholders.
San Donato Milanese, 30 July 2014 – The Snam Board of Directors, at yesterday’s meeting chaired by Lorenzo Bini Smaghi, approved the consolidated half-year report to 30 June 2014 (subjected to a limited audit) and examined the consolidated results for the second quarter of 2014 (unaudited).
Financial highlights
Total revenue: €1,782 million (+0.4%)
EBIT: €1,044 million (+2.4%)
Net profit: €561 million (+21.4%)
Technical investments: €526 million (+7.3%)
Operating highlights
Gas injected into the transportation network: 32.78 billion cubic metres (-5.0%)
Number of active meters: 5.911 million (5.915 million at 30 June 2013)
Available storage capacity: 11.4 billion cubic metres (unchanged compared with 30 June 2013)
Carlo Malacarne, Snam CEO, made the following comments on the results:
“In the first half of 2014 the EBIT growth of 2.4%, as well as the remarkable increase in net income of more than 21%, is the result of our continued focus on operating efficiency as well as the increasing contribution of associates and the on-going optimization measures in the cost of debt.
We remain committed to investing for profitable growth and value creation for our shareholders, confirming our selective capex plan”.
Klöckner & Co SE - HY 1 2014 Results - Analysts' and Investors' Conference Klöckner & Co SE
Charts accompanying the HY 1 2014 Results Analysts' and Investors' Conference on August 7, 2014
Press Release: http://www.kloeckner.com/en/media/press-releases-5057.php
San Donato Milanese, 30 July 2014 – The Snam Board of Directors, at yesterday’s meeting chaired by Lorenzo Bini Smaghi, approved the consolidated half-year report to 30 June 2014 (subjected to a limited audit) and examined the consolidated results for the second quarter of 2014 (unaudited).
Financial highlights
Total revenue: €1,782 million (+0.4%)
EBIT: €1,044 million (+2.4%)
Net profit: €561 million (+21.4%)
Technical investments: €526 million (+7.3%)
Operating highlights
Gas injected into the transportation network: 32.78 billion cubic metres (-5.0%)
Number of active meters: 5.911 million (5.915 million at 30 June 2013)
Available storage capacity: 11.4 billion cubic metres (unchanged compared with 30 June 2013)
Carlo Malacarne, Snam CEO, made the following comments on the results:
“In the first half of 2014 the EBIT growth of 2.4%, as well as the remarkable increase in net income of more than 21%, is the result of our continued focus on operating efficiency as well as the increasing contribution of associates and the on-going optimization measures in the cost of debt.
We remain committed to investing for profitable growth and value creation for our shareholders, confirming our selective capex plan”.
Klöckner & Co SE - HY 1 2014 Results - Analysts' and Investors' Conference Klöckner & Co SE
Charts accompanying the HY 1 2014 Results Analysts' and Investors' Conference on August 7, 2014
Press Release: http://www.kloeckner.com/en/media/press-releases-5057.php
Tom Selleck Net Worth: A Comprehensive Analysisgreendigital
Over several decades, Tom Selleck, a name synonymous with charisma. From his iconic role as Thomas Magnum in the television series "Magnum, P.I." to his enduring presence in "Blue Bloods," Selleck has captivated audiences with his versatility and charm. As a result, "Tom Selleck net worth" has become a topic of great interest among fans. and financial enthusiasts alike. This article delves deep into Tom Selleck's wealth, exploring his career, assets, endorsements. and business ventures that contribute to his impressive economic standing.
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Early Life and Career Beginnings
The Foundation of Tom Selleck's Wealth
Born on January 29, 1945, in Detroit, Michigan, Tom Selleck grew up in Sherman Oaks, California. His journey towards building a large net worth began with humble origins. , Selleck pursued a business administration degree at the University of Southern California (USC) on a basketball scholarship. But, his interest shifted towards acting. leading him to study at the Hills Playhouse under Milton Katselas.
Minor roles in television and films marked Selleck's early career. He appeared in commercials and took on small parts in T.V. series such as "The Dating Game" and "Lancer." These initial steps, although modest. laid the groundwork for his future success and the growth of Tom Selleck net worth. Breakthrough with "Magnum, P.I."
The Role that Defined Tom Selleck's Career
Tom Selleck's breakthrough came with the role of Thomas Magnum in the CBS television series "Magnum, P.I." (1980-1988). This role made him a household name and boosted his net worth. The series' popularity resulted in Selleck earning large salaries. leading to financial stability and increased recognition in Hollywood.
"Magnum P.I." garnered high ratings and critical acclaim during its run. Selleck's portrayal of the charming and resourceful private investigator resonated with audiences. making him one of the most beloved television actors of the 1980s. The success of "Magnum P.I." played a pivotal role in shaping Tom Selleck net worth, establishing him as a major star.
Film Career and Diversification
Expanding Tom Selleck's Financial Portfolio
While "Magnum, P.I." was a cornerstone of Selleck's career, he did not limit himself to television. He ventured into films, further enhancing Tom Selleck net worth. His filmography includes notable movies such as "Three Men and a Baby" (1987). which became the highest-grossing film of the year, and its sequel, "Three Men and a Little Lady" (1990). These box office successes contributed to his wealth.
Selleck's versatility allowed him to transition between genres. from comedies like "Mr. Baseball" (1992) to westerns such as "Quigley Down Under" (1990). This diversification showcased his acting range. and provided many income streams, reinforcing Tom Selleck net worth.
Television Resurgence with "Blue Bloods"
Sustaining Wealth through Consistent Success
In 2010, Tom Selleck began starring as Frank Reagan i
From Slave to Scourge: The Existential Choice of Django Unchained. The Philos...Rodney Thomas Jr
#SSAPhilosophy #DjangoUnchained #DjangoFreeman #ExistentialPhilosophy #Freedom #Identity #Justice #Courage #Rebellion #Transformation
Welcome to SSA Philosophy, your ultimate destination for diving deep into the profound philosophies of iconic characters from video games, movies, and TV shows. In this episode, we explore the powerful journey and existential philosophy of Django Freeman from Quentin Tarantino’s masterful film, "Django Unchained," in our video titled, "From Slave to Scourge: The Existential Choice of Django Unchained. The Philosophy of Django Freeman!"
From Slave to Scourge: The Existential Choice of Django Unchained – The Philosophy of Django Freeman!
Join me as we delve into the existential philosophy of Django Freeman, uncovering the profound lessons and timeless wisdom his character offers. Through his story, we find inspiration in the power of choice, the quest for justice, and the courage to defy oppression. Django Freeman’s philosophy is a testament to the human spirit’s unyielding drive for freedom and justice.
Don’t forget to like, comment, and subscribe to SSA Philosophy for more in-depth explorations of the philosophies behind your favorite characters. Hit the notification bell to stay updated on our latest videos. Let’s discover the principles that shape these icons and the profound lessons they offer.
Django Freeman’s story is one of the most compelling narratives of transformation and empowerment in cinema. A former slave turned relentless bounty hunter, Django’s journey is not just a physical liberation but an existential quest for identity, justice, and retribution. This video delves into the core philosophical elements that define Django’s character and the profound choices he makes throughout his journey.
Link to video: https://youtu.be/GszqrXk38qk
Panchayat Season 3 - Official Trailer.pdfSuleman Rana
The dearest series "Panchayat" is set to make a victorious return with its third season, and the fervor is discernible. The authority trailer, delivered on May 28, guarantees one more enamoring venture through the country heartland of India.
Jitendra Kumar keeps on sparkling as Abhishek Tripathi, the city-reared engineer who ends up functioning as the secretary of the Panchayat office in the curious town of Phulera. His nuanced depiction of a young fellow exploring the difficulties of country life while endeavoring to adjust to his new environmental factors has earned far and wide recognition.
Neena Gupta and Raghubir Yadav return as Manju Devi and Brij Bhushan Dubey, separately. Their dynamic science and immaculate acting rejuvenate the hardships of town administration. Gupta's depiction of the town Pradhan with an ever-evolving outlook, matched with Yadav's carefully prepared exhibition, adds profundity and credibility to the story.
New Difficulties and Experiences
The trailer indicates new difficulties anticipating the characters, as Abhishek keeps on wrestling with his part in the town and his yearnings for a superior future. The series has reliably offset humor with social editorial, and Season 3 looks ready to dig much more profound into the intricacies of rustic organization and self-awareness.
Watchers can hope to see a greater amount of the enchanting and particular residents who have become fan top picks. Their connections and the one of a kind cut of-life situations give a reviving and interesting portrayal of provincial India, featuring the two its appeal and its difficulties.
A Mix of Humor and Heart
One of the signs of "Panchayat" is its capacity to mix humor with sincere narrating. The trailer features minutes that guarantee to convey giggles, as well as scenes that pull at the heartstrings. This equilibrium has been a critical calculate the show's prosperity, resounding with crowds across different socioeconomics.
Creation Greatness
The creation quality remaining parts first rate, with the beautiful setting of Phulera town filling in as a scenery that upgrades the narrating. The meticulousness in portraying provincial life, joined with sharp composition and solid exhibitions, guarantees that "Panchayat" keeps on hanging out in the packed web series scene.
Expectation and Delivery
As the delivery date draws near, expectation for "Panchayat" Season 3 is at a record-breaking high. The authority trailer has previously created critical buzz, with fans enthusiastically anticipating the continuation of Abhishek Tripathi's excursion and the new undertakings that lie ahead in Phulera.
All in all, the authority trailer for "Panchayat" Season 3 recommends that watchers are in for another drawing in and engaging ride. Yet again with its charming characters, convincing story, and ideal mix of humor and show, the new season is set to enamor crowds. Write in your schedules and prepare to get back to the endearing universe of "Panchayat."
Skeem Saam in June 2024 available on ForumIsaac More
Monday, June 3, 2024 - Episode 241: Sergeant Rathebe nabs a top scammer in Turfloop. Meikie is furious at her uncle's reaction to the truth about Ntswaki.
Tuesday, June 4, 2024 - Episode 242: Babeile uncovers the truth behind Rathebe’s latest actions. Leeto's announcement shocks his employees, and Ntswaki’s ordeal haunts her family.
Wednesday, June 5, 2024 - Episode 243: Rathebe blocks Babeile from investigating further. Melita warns Eunice to stay clear of Mr. Kgomo.
Thursday, June 6, 2024 - Episode 244: Tbose surrenders to the police while an intruder meddles in his affairs. Rathebe's secret mission faces a setback.
Friday, June 7, 2024 - Episode 245: Rathebe’s antics reach Kganyago. Tbose dodges a bullet, but a nightmare looms. Mr. Kgomo accuses Melita of witchcraft.
Monday, June 10, 2024 - Episode 246: Ntswaki struggles on her first day back at school. Babeile is stunned by Rathebe’s romance with Bullet Mabuza.
Tuesday, June 11, 2024 - Episode 247: An unexpected turn halts Rathebe’s investigation. The press discovers Mr. Kgomo’s affair with a young employee.
Wednesday, June 12, 2024 - Episode 248: Rathebe chases a criminal, resorting to gunfire. Turf High is rife with tension and transfer threats.
Thursday, June 13, 2024 - Episode 249: Rathebe traps Kganyago. John warns Toby to stop harassing Ntswaki.
Friday, June 14, 2024 - Episode 250: Babeile is cleared to investigate Rathebe. Melita gains Mr. Kgomo’s trust, and Jacobeth devises a financial solution.
Monday, June 17, 2024 - Episode 251: Rathebe feels the pressure as Babeile closes in. Mr. Kgomo and Eunice clash. Jacobeth risks her safety in pursuit of Kganyago.
Tuesday, June 18, 2024 - Episode 252: Bullet Mabuza retaliates against Jacobeth. Pitsi inadvertently reveals his parents’ plans. Nkosi is shocked by Khwezi’s decision on LJ’s future.
Wednesday, June 19, 2024 - Episode 253: Jacobeth is ensnared in deceit. Evelyn is stressed over Toby’s case, and Letetswe reveals shocking academic results.
Thursday, June 20, 2024 - Episode 254: Elizabeth learns Jacobeth is in Mpumalanga. Kganyago's past is exposed, and Lehasa discovers his son is in KZN.
Friday, June 21, 2024 - Episode 255: Elizabeth confirms Jacobeth’s dubious activities in Mpumalanga. Rathebe lies about her relationship with Bullet, and Jacobeth faces theft accusations.
Monday, June 24, 2024 - Episode 256: Rathebe spies on Kganyago. Lehasa plans to retrieve his son from KZN, fearing what awaits.
Tuesday, June 25, 2024 - Episode 257: MaNtuli fears for Kwaito’s safety in Mpumalanga. Mr. Kgomo and Melita reconcile.
Wednesday, June 26, 2024 - Episode 258: Kganyago makes a bold escape. Elizabeth receives a shocking message from Kwaito. Mrs. Khoza defends her husband against scam accusations.
Thursday, June 27, 2024 - Episode 259: Babeile's skillful arrest changes the game. Tbose and Kwaito face a hostage crisis.
Friday, June 28, 2024 - Episode 260: Two women face the reality of being scammed. Turf is rocked by breaking
Maximizing Your Streaming Experience with XCIPTV- Tips for 2024.pdfXtreame HDTV
In today’s digital age, streaming services have become an integral part of our entertainment lives. Among the myriad of options available, XCIPTV stands out as a premier choice for those seeking seamless, high-quality streaming. This comprehensive guide will delve into the features, benefits, and user experience of XCIPTV, illustrating why it is a top contender in the IPTV industry.
Meet Crazyjamjam - A TikTok Sensation | Blog EternalBlog Eternal
Crazyjamjam, the TikTok star everyone's talking about! Uncover her secrets to success, viral trends, and more in this exclusive feature on Blog Eternal.
Source: https://blogeternal.com/celebrity/crazyjamjam-leaks/
In the vast landscape of cinema, stories have been told, retold, and reimagined in countless ways. At the heart of this narrative evolution lies the concept of a "remake". A successful remake allows us to revisit cherished tales through a fresh lens, often reflecting a different era's perspective or harnessing the power of advanced technology. Yet, the question remains, what makes a remake successful? Today, we will delve deeper into this subject, identifying the key ingredients that contribute to the success of a remake.
Are the X-Men Marvel or DC An In-Depth Exploration.pdfXtreame HDTV
The world of comic books is vast and filled with iconic characters, gripping storylines, and legendary rivalries. Among the most famous groups of superheroes are the X-Men. Created in the early 1960s, the X-Men have become a cultural phenomenon, featuring in comics, animated series, and blockbuster movies. A common question among newcomers to the comic book world is: Are the X-Men Marvel or DC? This article delves into the history, creators, and significant moments of the X-Men to provide a comprehensive answer.
Scandal! Teasers June 2024 on etv Forum.co.zaIsaac More
Monday, 3 June 2024
Episode 47
A friend is compelled to expose a manipulative scheme to prevent another from making a grave mistake. In a frantic bid to save Jojo, Phakamile agrees to a meeting that unbeknownst to her, will seal her fate.
Tuesday, 4 June 2024
Episode 48
A mother, with her son's best interests at heart, finds him unready to heed her advice. Motshabi finds herself in an unmanageable situation, sinking fast like in quicksand.
Wednesday, 5 June 2024
Episode 49
A woman fabricates a diabolical lie to cover up an indiscretion. Overwhelmed by guilt, she makes a spontaneous confession that could be devastating to another heart.
Thursday, 6 June 2024
Episode 50
Linda unwittingly discloses damning information. Nhlamulo and Vuvu try to guide their friend towards the right decision.
Friday, 7 June 2024
Episode 51
Jojo's life continues to spiral out of control. Dintle weaves a web of lies to conceal that she is not as successful as everyone believes.
Monday, 10 June 2024
Episode 52
A heated confrontation between lovers leads to a devastating admission of guilt. Dintle's desperation takes a new turn, leaving her with dwindling options.
Tuesday, 11 June 2024
Episode 53
Unable to resort to violence, Taps issues a verbal threat, leaving Mdala unsettled. A sister must explain her life choices to regain her brother's trust.
Wednesday, 12 June 2024
Episode 54
Winnie makes a very troubling discovery. Taps follows through on his threat, leaving a woman reeling. Layla, oblivious to the truth, offers an incentive.
Thursday, 13 June 2024
Episode 55
A nosy relative arrives just in time to thwart a man's fatal decision. Dintle manipulates Khanyi to tug at Mo's heartstrings and get what she wants.
Friday, 14 June 2024
Episode 56
Tlhogi is shocked by Mdala's reaction following the revelation of their indiscretion. Jojo is in disbelief when the punishment for his crime is revealed.
Monday, 17 June 2024
Episode 57
A woman reprimands another to stay in her lane, leading to a damning revelation. A man decides to leave his broken life behind.
Tuesday, 18 June 2024
Episode 58
Nhlamulo learns that due to his actions, his worst fears have come true. Caiphus' extravagant promises to suppliers get him into trouble with Ndu.
Wednesday, 19 June 2024
Episode 59
A woman manages to kill two birds with one stone. Business doom looms over Chillax. A sobering incident makes a woman realize how far she's fallen.
Thursday, 20 June 2024
Episode 60
Taps' offer to help Nhlamulo comes with hidden motives. Caiphus' new ideas for Chillax have MaHilda excited. A blast from the past recognizes Dintle, not for her newfound fame.
Friday, 21 June 2024
Episode 61
Taps is hungry for revenge and finds a rope to hang Mdala with. Chillax's new job opportunity elicits mixed reactions from the public. Roommates' initial meeting starts off on the wrong foot.
Monday, 24 June 2024
Episode 62
Taps seizes new information and recruits someone on the inside. Mary's new job
As a film director, I have always been awestruck by the magic of animation. Animation, a medium once considered solely for the amusement of children, has undergone a significant transformation over the years. Its evolution from a rudimentary form of entertainment to a sophisticated form of storytelling has stirred my creativity and expanded my vision, offering limitless possibilities in the realm of cinematic storytelling.
From the Editor's Desk: 115th Father's day Celebration - When we see Father's day in Hindu context, Nanda Baba is the most vivid figure which comes to the mind. Nanda Baba who was the foster father of Lord Krishna is known to provide love, care and affection to Lord Krishna and Balarama along with his wife Yashoda; Letter’s to the Editor: Mother's Day - Mother is a precious life for their children. Mother is life breath for her children. Mother's lap is the world happiness whose debt can never be paid.
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3. 3
Fourth Quarter 2011
Record Sales & Increased Net Cash Flow
• Sales up 3% y/y at constant & reported FX to
SEK 3,711 (3,618) mn
• OPEX up y/y to SEK 3,160 (2,965) mn & up
7% at constant FX
• EBIT before associated company income &
non-recurring items of SEK 551 (653) mn
• Total EBIT of SEK -2,517 (746) mn incl.
associated company income of SEK 114 (93) mn
& SEK -3,182 mn of non-recurring items, primarily
related to impairment of Bulgarian broadcasting
goodwill
• PTP of SEK -2,519 (741) mn
• Net income from continuing operations of
SEK -2,564 (634) mn & basic EPS from
continuing operations of SEK -38.87 (9.40)
• Net cash flow from operations up 10% y/y to
SEK 1,107 (1,009) mn
• Included SEK 174 (131) mn of
dividends from CTC Media
Q42011FinancialResults
SEK mn
* EBIT excluding associated income & non-recurring
items
3.618
3.711
653
551
0%
5%
10%
15%
20%
25%
30%
35%
40%
0
500
1.000
1.500
2.000
2.500
3.000
3.500
4.000
Q4 2010 Q4 2011
Revenue EBIT* EBIT margin
4. 4
Full Year 2011
Lower Gearing & Higher Dividend
• Sales up 6% y/y at constant FX & up 3% at
reported FX to SEK 13,473 (13,101) mn
• OPEX up y/y to SEK 11,540 (11,160) mn & up 7%
at constant FX
• EBIT of SEK 1,933 (1,941) mn when excluding
associated company income & non-recurring
items
• Total EBIT of SEK -637 (2,355) mn incl.
associated company income of SEK 611 (413) mn
& SEK -3,182 mn of non-recurring items
• PTP of SEK -727 (2,321) mn
• Net income from continuing operations of
SEK -1,289 (1,750) mn & basic EPS from
continuing operations of SEK -19.98 (26.22)
• Net cash flow from operations up 17% y/y to
SEK 1,797 (1,533) mn
• Including SEK 319 (216) mn of dividends
from CTC Media
• Board of Directors to propose increased annual
cash dividend of SEK 9.00 (7.50) per share &
adopts dividend policy to distribute at least 30% of
recurring net profit to shareholders as annual
ordinary dividend
FY2011FinancialResults
SEK mn
* EBIT excluding associated income & non-recurring
items
13.101
13.473
1.941 1.933
0%
5%
10%
15%
20%
25%
30%
35%
40%
0
2.000
4.000
6.000
8.000
10.000
12.000
14.000
16.000
FY 2010 FY 2011
Revenue EBIT* EBIT margin
6. 6
Free-TV Scandinavia
Financial Highlights
• Sales of SEK 1,240 (1,229) mn in Q4 & SEK
4,393 (4,247) mn for FY
• Sales up 1% y/y in Q4 & 6% for full year
at constant FX
• OPEX of SEK 958 (879) mn in Q4 & SEK 3,316
(3,165) mn for full year
• Up y/y at constant FX for both periods
• Increased investments in programming
in all 3 countries
• EBIT down to SEK 282 (350) mn in Q4 & stable
at SEK 1,077 (1,082) mn for FY
• EBIT margin of 22.7% (28.5%) in Q4 &
24.5% (25.5%) for FY
Operatingreview
SEK mn
1.229 1.240
4.247
4.393
350 282
1.082 1.077
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
0
500
1.000
1.500
2.000
2.500
3.000
3.500
4.000
4.500
5.000
Q4 2010 Q4 2011 FY 2010 FY 2011
Revenue EBIT EBIT margin
7. 7
Free-TV Scandinavia
Operating Highlights
Sweden
• Target audience share of 34.0% (35.2%) in Q4
• Spring programming schedules launched
earlier y/y in 2012
• Focus on new series of popular local
productions & proven international
programmes
Norway
• Target audience share of 20.1% (23.1%)
• Investing in programming content
• Spring 2012 schedules feature well-
established formats launched from
January onwards
Denmark
• Target audience share of 22.2% (24.7%)
• Earlier y/y launch of Spring schedules
• Focus on new seasons of successful
formats
Operatingreview
Commercial Audience Share (15-49)
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
Sweden Norway Denmark
8. 8
Pay-TV Nordic
Financial Highlights
• Sales of SEK 1,221 (1,137) mn in Q4 &
SEK 4,730 (4,484) mn for FY
• Up 7% y/y in Q4 & 8% for FY at
constant FX
• OPEX of SEK 976 (929) mn in Q4 & SEK 3,807
(3,662) mn for FY
• Up y/y at constant FX
• Ongoing investments in Viaplay streaming
platform & premium content investments
• EBIT up 18% y/y to SEK 246 (208) mn in Q4 &
SEK 923 (822) mn for FY
• Increased operating margins of 20% (18%)
for both periods
Operatingreview
SEK mn
1.137
1.221
4.484
4.730
208 246
822 923
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
0
500
1.000
1.500
2.000
2.500
3.000
3.500
4.000
4.500
5.000
Q4 2010 Q4 2011 FY 2010 FY 2011
Revenue EBIT EBIT margin
9. 9
Pay-TV Nordic
Operating Highlights
• Premium subscriber base up by 16,000
subscribers net in Q4 & stable y/y
• Driven by third party subscriber growth
in all three Scandinavian countries
• Satellite subscribers stable q/q
• Premium ARPU up by 5% y/y to SEK 4,791
(4,555) & stable compared to SEK 4,751 in Q4
• Price increases previously introduced
• Ongoing rise in penetration of value-added
services
Operatingreview
ThousandsThousands
Premium subscribers
Value added services
0
200
400
600
800
1.000
1.200
Satellite subscribers 3'rd party network subscribers
0
50
100
150
200
250
300
350
Q1
2010
Q2
2010
Q3
2010
Q4
2010
Q1
2011
Q2
2011
Q3
2011
Q4
2011
ViasatPlus HDTV Multi-room
10. 10
Free-TV Emerging Markets
Financial Highlights
• Total sales of SEK 655 (631) mn in Q4 &
SEK 2,073 (2,004) mn
• Up 7% y/y at constant FX in Q4 & 8%
for FY at constant FX
• OPEX up 7% y/y in Q4 & 8% for FY at
constant FX
• Total EBIT up 19% in Q4 to SEK 67 (56) mn &
improved EBIT of SEK 32 (-43) mn for FY
• EBIT margin of 10% (9%) in Q4 & 2% (-)
for FY
• Baltic, Czech & Bulgarian sales of SEK 591
(556) mn in Q4 & SEK 1,845 (1,754) mn for FY
• Up 9% at constant FX for both periods
• Combined OPEX of SEK 512 (481) mn in Q4 &
SEK 1,721 (1,702) mn for FY
• Up y/y at constant FX for both periods
• EBIT margin of 13% (13%) in Q4 & 7% (3%)
for FY
Free-TV Emerging Markets
Baltics, Czech Republic & Bulgaria
SEK mn
SEK mn
631 655
2.004 2.073
56 67 -43 32
-500
0
500
1.000
1.500
2.000
2.500
Q4 2010 Q4 2011 FY 2010 FY 2011
Revenue EBIT
556 591
1.754
1.845
75 79 52 124
0
500
1.000
1.500
2.000
Q4 2010 Q4 2011 FY 2010 FY 2011
Revenue EBIT
11. 11
Free-TV Emerging Markets
Operating Highlights
Baltics
• Sales up 1% y/y in Q4 & up 8% for FY at
constant FX
• Increased pan-Baltic target audience share
of 43.4% (42.0%) following programming
investments
• New channel TV8 in Lithuania reached 1% CSOV
in 15-49 demographic by year end
Czech Republic
• Sales up 22% y/y in Q4 & 20% for FY at constant
FX following viewing and ad market share gains
• Continued significant CSOV gains both y/y and
q/q, from 25.9% in Q4 2010 to 30.0% in Q4 2011
Bulgaria
• Sales down 11% y/y in Q4 & down 12% for FY at
constant FX, following decline in overall TV ad
market & low prevailing ad prices
• Combined CSOV reflected ongoing programming
investments
Operatingreview
10%
20%
30%
40%
50%
Estonia (15-49) Latvia (15-49)
Lithuania (15-49) Czech Republic (15-54)
Bulgaria (18-49)
Commercial Audience Share
12. 12
Pay-TV Emerging Markets
Financial Highlights
• Sales* of SEK 237 (225) mn in Q4 & SEK 922
(896) mn for FY
• Up 6% y/y in Q4 & 13% for FY at constant
FX
• Continued subscriber intake on Ukrainian
Russian & Baltic platforms + minipay
• Y/Y effect on YTD sales of consolidation
of 50% of Raduga TV from February 2010
& full consolidation of Viasat Ukraine from
June 2010
• OPEX of SEK 231 (196) mn in Q4 & SEK 874
(784) mn for FY & also up y/y at constant FX
• Launch of 10 new mini-pay Viasat channels
since beginning of 2010
• Ongoing investments in Ukrainian &
Russian platforms
• Consolidation of 50% of Raduga TV &
100% of Viasat Ukraine
• EBIT* of SEK 7 (29) mn in Q4 & SEK 49 (112)
for FY
• EBIT margins of 3% (13%) in Q4 & 5%
(12%) for FY
Operatingreview
SEK mn
225 237
896
922
29
7
112
49
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
0
200
400
600
800
1.000
1.200
Q4 2010 Q4 2011 FY 2010 FY 2011
Revenue EBIT EBIT margin
* Including the effect from the Q4 alignment of the accounting treatment of the Group’s Ukrainian satellite pay-TV business’ results. This alignment
generated a revenue impact of SEK -29 mn and an EBIT impact of SEK -18 mn
13. 13
Pay-TV Emerging Markets
Operating Highlights
• 102,000 net new subscribers added y/y &
72,000 subscribers added in Q4
• Accelerating subscriber intake in
Ukraine and Russia
• Growing Baltic subscriber base
• Wholesale mini-pay business subscriptions
up 28% y/y & 5% q/q to 64.3 million in Q4 from
50.2 million in Q4 2010
• Reflected signing of new contracts
in Russia in particular
Operatingreview
Satellite subscribers
Mini-pay TV subscriptions
ThousandsThousands
0
100
200
300
400
500
600
30.000
40.000
50.000
60.000
70.000
80.000
14. 14
Other Businesses
Highlights
• Comprises MTG’s Radio, Bet24 and Modern
Studios operations
• Sales of SEK 450 (455) mn in Q4 & SEK 1,675
(1,804) mn for FY
• Down 1% y/y & down 5% for FY at
constant FX
• Combined OPEX of SEK 418 (404) mn in Q4 &
SEK 1,566 (1,636) mn for FY
• EBIT before associated company income of SEK
31 (52) mn in Q4 & 109 (168) mn for FY
• EBIT margins of 7% (12%) in Q4 & 7%
(10%) for FY
• Total EBIT of SEK 32 (53) mn in Q4 & SEK
114 (175) mn for FY when including SEK 1
(1) mn & SEK 5 (6) mn of associated
company income for the two periods
Operatingreview
SEK mn
455 450
1.804
1.675
52 31
168
109
0%
5%
10%
15%
20%
25%
30%
0
200
400
600
800
1.000
1.200
1.400
1.600
1.800
2.000
Q4 2010 Q4 2011 FY 2010 FY 2011
Revenue EBIT EBIT margin
16. 16
Income Statement
• Depreciation & amortisation charges
of SEK 38 (57) mn in Q4 & SEK 183
(218) mn for FY
• Y/Y reduction in net interest charges
to SEK -12 (-22) mn in Q4 &
SEK -59 (-115) mn for FY
• Y/Y change in other financial items
in included
• SEK 43 (2) mn of non-cash
financial gain in Q4 & SEK 14
(2) mn for FY from the change
in value of the option element
of the SEK 250 mn CDON
Group convertible bond
• Non-cash financial gain of
following new share issues by
CTC Media and the resulting
dilution of MTG’s ownership in
the company of SEK 2 (17)
mn in Q4 & SEK 22 (69) mn
for FY
FinancialReview
(SEK mn)
Q4
2011
Q4
2010
FY
2011
FY
2010
Net sales 3,711 3,618 13,473 13,101
EBIT before associated company
income & non-recurring items
551 653 1,933 1,941
Associated company income 114 93 611 413
Recurring EBIT 665 746 2,544 2,355
Non-recurring items -3,182 - -3,182 -
Net interest & other financial items -2 -5 -90 -34
Income before tax -2,519 741 -727 2,321
Net income from continuing
operations
-2,564 634 -1,289 1,750
Net income from discontinued
operations
- 1,724 - 1,790
Net income -2,564 2,359 -1,289 3,541
Basic EPS from continuing
operations
-38.87 9.40 -19.98 26.22
Total basic EPS -38.87 35.43 -19.98 53.34
17. 17
Cash Flow
• Cash flow from operations included
receipt of SEK 174 (131) mn of dividend
payments from CTC Media in Q4 &
SEK 319 (216) mn for FY
• No investments in businesses during
2011, compared to SEK 275 mn during
2010, which primarily comprised the
acquisition of shares in Raduga TV &
Viasat Ukraine
• CAPEX of SEK 34 (38) mn in Q4 &
SEK 120 (157) mn for FY = less than 1%
of Group net sales for both periods
FinancialReview
(SEK mn)
Q4
2011
Q4
2010
FY
2011
FY
2010
Cash flow from
operations
519 578 1,853 1,810
Changes in working
capital
588 431 -56 -277
Net cash flow from
operations
1,107 1,009 1,797 1,533
Cash flow used in
investing activities
-29 -300 -115 -683
Cash flow used in
financing activities
-966 -660 -1,737 -897
Cash flow from
discontinued operations
– CDON Group
- -46 - -88
Net change in cash &
cash equivalents
112 2 -55 -135
18. 18
Financial Position
• SEK 1,542 (2,700) mn of the Group’s available
credit was drawn down as at 31 Dec 2011
• Net debt of SEK down to SEK 797 (2,026) mn
as at 31 Dec 2011 & compared to net debt of
SEK 1,861 mn as at 30 Sep 2011
• SEK 5,528 (4,400) mn of available liquid funds
(cash & undrawn facilities)
• SEK 1,878 (1,785) mn book value of 38.1%
shareholding in CTC Media had public equity
value of SEK 3,618 mn as at 31 Dec 2011
FinancialReview
(SEK mn)
31 Dec
2011
31 Dec
2010
Non-current assets 5,612 8,648
Current assets 5,668 5,354
Total assets 11,281 14,002
Shareholders’ equity 4,350 6,239
Long-term liabilities 2,168 3,311
Current liabilities 4,763 4,452
Total equity & liabilities 11,281 14,002
Net debt / EBITDA
1,2 1,2 1,1
0,8 0,7 0,6 0,7
0,3
19. 19
Summary
• Record sales following growth across all four broadcasting businesses
• Best in class margins and 14% full year underlying margin despite investments
• Adding subscribers in Nordic & Emerging Markets
• Well positioned in the emerging advertising markets BUT market recovery is still
lagging Western markets
• High cash conversion levels & low gearing = increased proposed full year dividend
+ adopted dividend policy
• Solid financial position & continue to invest in businesses that will drive long-term
growth & development
Summary
20. 20
For further information, please visit www.mtg.se or contact:
MTG Investor Relations
Tel: +44 7768 440 414 / +44 7590 098 188
Email: investor.relations@mtg.se
Contactinformation