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PERFORMANCE REVIEW:Q4 FY07May 16, 2007
INVESTOR UPDATE
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Presentation Path
• Financial Review• Business Review
ENILTimes Innovative Media Limited
• Outlook and Strategy• Investor Communication
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Financial Review
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NM(98.1)-Exceptional Item
22.5%
104.4(20.0)
84.4
10.6
31.2
16.3
30.7%
142.5321.8
464.311.9
452.4
Q4 FY07
90.0%NM
13.6%
52.2%
(61.7%)
44.2%
56.4%35.6%
41.4%NM
38.2%
YoYGrowth (%)
16.7%Margin (%)
54.9Profit After Tax (PAT)19.4Less: Taxation
74.3Profit Before Tax (PBT)
22.1Financing cost
81.5Amortization
11.3Depreciation
27.7%Margin (%)
91.1EBITDA237.3Operating Expenditure
328.4Total Income1.1Other Income
327.3Airtime Sales
Q4 FY06(Rs. Million)
Condensed Statement Of OperationsStandalone
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Total Income Rs.464.3 million, up 41.4%
Earnings before Interest, Tax, Depreciation and Amortisation(EBITDA) stood at Rs. 142.5 million, up 56.4%
EBITDA margin stood at 30.7%
Net Profit at Rs. 104.4 million, up 90%- Normalized net profit for Q4 FY06 was Rs.18.0 million
Q4FY2007 PERFORMANCE OVERVIEW(All comparisons with Q4FY2006)
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On a like basis (excluding 3 new stations):
Total income up 12.7% to Rs 370.1 million
EBITDA up 37.1% to Rs 124.9 million
EBITDA margin stood at 33.7%
The new stations namely Bangalore, Hyderabad and Jaipurreported EBITDA margin of 18.8% for the quarter
Q4FY2007 PERFORMANCE OVERVIEW (Cont’d…) (All comparisons with Q4FY2006)
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NM(98.1)-Exceptional Item
17.1%
290.8(13.0)
277.8
20.3
124.8
54.6
28.0%
477.51,227.7
1,705.233.2
1,672.0
FY07
(1.3%)NM
(15.9%)
(21.6%)
53.1%
30.6%
25.2%52.3%
43.6%145.9%
42.4%
YoYGrowth (%)
24.8%Margin (%)
294.7Profit After Tax (PAT)35.5Less: Taxation
330.2Profit Before Tax (PBT)
25.9Financing cost
81.5Amortization
41.8Depreciation
32.1%Margin (%)
381.4EBITDA806.2Operating Expenditure
1,187.6Total Income13.5Other Income
1,174.1Airtime Sales
FY06(Rs. Million)
Condensed Statement Of OperationsStandalone
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Total Income Rs.1,705.2 million, up 43.6%
Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) stood at Rs. 477.5 million, up 25.2%. Margin at 28.0%
Net Profit at Rs. 290.8 million- Normalized net profit for FY06 was Rs.196.7 million
Launch expenses pertaining to Bangalore, Hyderabad and Jaipur expensed in P. & L. account were around Rs. 37.9 million for FY 2007. Impact of these one-off items on EBITDA margin was 2.2%
FY2007 PERFORMANCE OVERVIEW
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On a like basis (excluding 3 new stations):
Total income up 18.4% to Rs 1,405.6 million
EBITDA up 23.8% to Rs 472.1 million
EBITDA margin stood at 33.6%
The three new stations achieved break-even in the first year of their operation with 1.8% margin
FY2007 PERFORMANCE OVERVIEW (Cont’d…)
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Condensed Statement Of Operations (Consolidated)
NM(98.1)-Exceptional Item
148.0%(28.1)(69.7)Less: Inter-company revenues
10.6%
251.4(8.5)
242.9
22.4
124.8
62.7
19.1%
452.81,923.2
2,376.024.9
748.8
1,672.0
FY07
228.1%228.2Revenues of subsidiary
(19.0%)NM
(31.8%)
(13.5%)
53.1%
47.0%
11.0%95.9%
71.0%57.6%
42.4%
YoY Growth (%)
22.4%Margin (%)
310.5Profit After Tax (PAT)45.6Less: Taxation
356.1Profit Before Tax (PBT)
25.9Financing cost
81.5Amortization
42.7Depreciation
29.4%Margin (%)
408.1EBITDA981.7Operating Expenditure
1,390.0Total Income15.8Other Income
1,174.1Airtime Sales
FY06(Rs. Million)
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Total Income Rs.2,376.0 million, up 71.0%
Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) stood at Rs. 452.8 million, up 11.0%. Margin at 19.1%
Net Profit at Rs. 251.4 million- Normalized net profit for FY06 was Rs.212.4 million
Expenses pertaining to new initiatives were around Rs 86.4 million for FY 2007. Impact of these one-off items on EBITDA margin was 3.6%
PERFORMANCE OVERVIEWCONSOLIDATED FINANCIALS FY2007
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Review - Radio Business
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New Station Roll-outs:
Patna and Jalandhar, which are among the 22 stations slated to be rolled out
Rise in market volumes:
During the 6 months ended March 31, 2007 industry volumes has grown over 100% in Delhi, over 50% in Mumbai and Chennai
Key Operating Highlights - Radio Business
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Mirchi Reach – Presence In Lucrative Markets
NagpurMangaloreMaduraiLucknowKolhapurKanpur
JabalpurCoimbatore
BhopalAurangabad
Forthcoming
PunePatna
VishakhapatnamMumbaiVijayawadaKolkata
VaranasiJalandharVadodararaJaipur
ThiruvananthapuramIndoreSuratHyderabadRajkotDelhiRaipurChennaiPanajiBangaloreNasikAhmedabad
Operational
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Further Consolidates in Mumbai
Radio Mirchi continues to be the radio channel of choice in Mumbai and loom over the competition with 2.23 million out of a total of 4.97 million daily listeners. Radio Mirchi has increased its lead over the #2 player in Mumbai from 39% to 43%
2.052.21
2.60
2.23
1.901.73
1.89
1.56
1.20
1.58 1.661.45
0.25
0.94 0.97
0.65
0.0
0.5
1.0
1.5
2.0
2.5
3.0
ILT Wave 8 ILT Wave 9 ILT Wave 10 ILT Wave 11
Radio Mirchi Radio City Red FM Go/ Radio one
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Continued Dominance in Delhi
In Delhi, Radio Mirchi continues to maintain its 2:1 lead over its competitor. It has 3.45 million out of 5.76 million daily listeners
3.60
4.464.20
3.50
2.20
1.60
2.83
1.801.70
2.092.00
1.35
0.00.51.01.52.02.53.03.54.04.55.0
ILT Wave 8 ILT Wave 9 ILT Wave 10 ILT Wave 11
Radio Mirchi Radio City Red FM
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Preferred One in Kolkata
In Kolkata, Radio Mirchicontinues to have leadership position with 2.53 million out of a total 4.2 million listeners. It is the second largest media vehicle in the city after the leading Bengali daily
2.732.53
0.76 0.710.58 0.55
1.41
0.0
0.5
1.0
1.5
2.0
2.5
3.0
ILT Wa ve 1 ILT Wave 2
Radio Mirchi Red FM Aamar FM 106.2 Big FM
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Business Review - TIML
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Times OOH wins prestigious outdoor advertising rights:
Delhi and Mumbai International Airports contract for a period of three years
Times OOH now offers display opportunities ranging from hoardings around terminals, approach roads to the terminals, the terminal buildings, and advertising options inside the terminal buildings & aerobridges at Domestic and International airports
With both Delhi and Mumbai airport, Times OOH offers an audience of 35 million per annum which accounts for over 50% of air passengers in India
360 Degrees (Experiential Marketing business) is focusing on establishing IPR owned properties
Operating Highlights
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Mumbai Mumbai
•• 1400 Bus Shelters1400 Bus Shelters
•• Patel BridgePatel Bridge
•• 2 LED Screens at the Airport2 LED Screens at the Airport
•• Over 300 display options atOver 300 display options at Mumbai Mumbai International AirportInternational Airport
DELHIDELHI
•• 192 Display options at Delhi192 Display options at Delhi‐‐Noida Noida flywayflyway
•• 839 Display sites at 13 Metro Stations839 Display sites at 13 Metro Stations
•• 2 2 LEDsLEDs at DND And Sahara Mallat DND And Sahara Mall
•• 233 display options at the Delhi 233 display options at the Delhi AirportAirport
KolkataKolkata
••67 Billboards67 Billboards
PunePune
••8 hoardings8 hoardings
Times OOH - Visibility Where It Counts
Mumbai
Delhi
Kolkata
MetroBQS
Bridges
LED
Sahara MallDND
DNDConnaught Place link
Dwarka link
West MumbaiSouth Mumbai
Patel bridgeMetro
Mumbai
Delhi
Kolkata
MetroBQS
Bridges
LED
Sahara MallDND
DNDConnaught Place link
Dwarka link
West MumbaiSouth Mumbai
Patel bridgeMetro
DIAL
Airport
Pune
Billboards
Billboards
Mumbai airport
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FUTURE OUTLOOK AND STRATEGY
Expand our footprint in radio broadcasting
– Rollout of remaining 20 stations
– Explore opportunities in international markets
Maintain market leadership in fast growing radio industry
Focus on Out-of-Home media growth
Expand the network of out-of-home media sites
Establish long-term client relationships for Experiential Marketing
• Establish ourselves as a provider of innovative solutions
• Focus on “ownership” rather than “managed event”
• Focus on Life style, Fashion shows and Exhibitions
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Investor Contact
Entertainment Network is committed to improving its performance every fiscal and continuously enhance shareholder value through successful implementation of its growth plans. The company’s investor relations mission is to maintain an ongoing awareness of its performance among shareholders and financial community. This update covers the company’s financial performance for Q4 FY07 and FY07We thank you for your support and welcome your feedback and comments regarding this update and other investor issues
For further information please contact:N. Subramanian, Chief Financial Officer (CFO), ENIL Tel: +91 (22) 67536983; Email: [email protected]
Dalpat Jain, Business Analyst, ENIL Tel: +91 (22) 67536919; E-mail: [email protected]
Arun Rajendran, Adfactors PRTel: +91 (22) 22813565; Email: [email protected]
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Certain statements in this release concerning our future growth prospects are forward-looking
statements, which involve a number of risks, and uncertainties that could cause actual results to
differ materially from those in such forward-looking statements. The risks and uncertainties relating to
these statements include, but are not limited to, risks and uncertainties regarding fluctuations in
earnings, our ability to manage growth, intense competition in our business segments, change in
governmental policies, political instability, legal restrictions on raising capital, and unauthorized use of
our intellectual property and general economic conditions affecting our industry. ENIL may, from time
to time, make additional written and oral forward looking statements, including our reports to
shareholders. The Company does not undertake to update any forward-looking statement that may
be made from time to time by or on behalf of the company.
Disclaimer
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THANK YOU
