M6 Métropole Télévision: First Quarter 2017
April 26 2017 - 12:45AM
Business Wire
Regulatory News:
M6 Métropole Télévision (Paris:MMT):
Advertising revenue: €210.2 million, up
5.7%
Profit from recurring operations (EBITA)
€47.1 million, up 2.9%
1st Quarter (in €m) 1
2017
2016 change Group advertising revenue
210.2 199.0 +5.7% - of which FTA channels'
advertising revenue
196.6 186.1 +5.6% - of which cab-sat
channels and other media advertising revenue
13.6
12.8 +6.4% Non advertising revenue
113.5 112.9 +0.5%
Consolidated
revenue 323.7 311.8 +3.8%
Over the first quarter of the 2017 financial year, M6 Group
posted consolidated revenue of €323.7 million, an increase of
3.8% in comparison with the first quarter of 2016.
The Group’s advertising revenue for the first three months
(free-to-air and pay channels, internet) grew 5.7%, reflecting
gains in free-to-air channels’ audience share and
buoyant internet audience figures.
Non-advertising revenue rose slightly, up 0.5%, with the decline
in the home shopping business and the expected fall in the
contribution from the M6 mobile by Orange contract being more than
offset by the integration of iGraal and the growth in TV rights
collected by F.C.G.B.
During the first quarter of the financial year, consolidated
profit from recurring operations (EBITA) reached €47.1 million, an
increase of 2.9% in relation to the €45.8 million achieved in the
first quarter of 2016.
(in €m)
1st Quarter 2017
2016 change Consolidated revenue
211.8 201.0
+5.4% o.w. FTA channels' advertising revenue
196.6 186.1
+5.6%
The individual television viewing time over the first
quarter of 2017 was stable and, for people aged four and
over, reached 3 hours 52 minutes.
1 The information provided is intended to highlight the
breakdown of consolidated revenue between advertising and
non-advertising revenue. Group advertising revenues include the
revenues of the free-to-air channels M6, W9 and 6ter, the
advertising portion of revenues from pay channels and the
advertising portion of revenues generated by diversification
activities (mainly internet).
M6 Group confirmed its growth across all audiences with
an average audience share of 13.9% for its free-to-air channels (an
increase of 0.3 percentage points vs. Q1 2016, source -
Médiamétrie), and among women under 50 responsible for
purchases, with an average audience share of 22.2% (up 0.4
points vs. Q1 2016):
- The M6 channel maintained its
2nd placed position amongst the under 50s across
the entire day;
- W9 achieved year-on-year growth both
across audiences as a whole (up 0.2 points) and on the commercial
target (up 0.3 points);
- 6ter remained the top ranked of the
new DTT channels on the commercial target, achieving the
highest year-on-year growth of the new DTT channels on this target
(up 0.5 points).
M6 Group’s free-to-air channels were able to capitalise on their
solid 2016 and early 2017 audience figures to continue to
gain advertising market share and record a 5.6% increase in
advertising revenue in what remained a cautious market.
Moreover, M6 Group’s pay channels consolidated their position
amongst the leading pay channels. With 11.2 million viewers each
month, Paris Première was the most watched pay channel.
Téva was the top ranked pay channel on the commercial target
(source: Médiamétrie Médiamat Thématik, from 29 August 2016 to 12
February 2017).
-
PRODUCTION & AUDIOVISUAL RIGHTS
(in €m)
1st Quarter 2017
2016 change Consolidated revenue
31.5 30.5
+3.5%
At 31 March 2017, revenue from Production & Audiovisual
Rights activities increased €1.0 million (up 3.5%) mainly due
to a busy cinema release schedule for SND (4.6 million cinema
admissions) and to the latter’s buoyant rights selling business,
especially on international markets.
The first quarter of 2017 was marked by the cinema release of La
La Land (2.7 million admissions) and Lion (1.8 million).
(in €m)
1st Quarter 2017
2016 change Consolidated revenue
80.3 80.2
+0.1%
Diversification revenue was stable over the first quarter of the
financial year, primarily due to:
- M6 Web, whose revenue grew by
€1.4 million (up 5.6%). The effects of the integration of iGraal,
the cashback company acquired in November 2016, and the advertising
performance of 6play, whose number of registered users now exceeds
16 million, were mitigated by the fall in the contribution of M6
mobile by Orange as provided for in the protocol agreement signed
with Orange in 2016;
- F.C.G.B, whose revenue grew €1.8
million (up 13.4%), as a result of the revaluation of the
Ligue 1 TV rights at the start of the current season;
- Ventadis, which saw its sales
fall €5.5 million or 14.0%, notably as a result of the ongoing
restructuring of the home shopping business following the CSA’s
refusal of its application to become a free-to-air DTT
channel.
- FINANCIAL POSITION
At 31 March 2017, Group equity totalled €642.5 million (€616.3
million at 31 December 2016) with a net cash position of €221.1
million (€176.4 million at 31 December 2016).
For the first quarter of the financial year, consolidated
profit from recurring operations (EBITA)2 reached
€47.1 million, compared with €45.8 million for the three months
to 31 March 2016. The increase in the contribution of TV
activities, together with the growth in advertising revenues, was
partially offset by the higher programming cost, reflecting the
Group’s desire to pursue its investments in order to maintain the
audience momentum of its channels.
- DIVIDEND AND ANNUAL GENERAL
MEETING
The Combined General Meeting convened today will be asked to
approve the payment3 of a dividend of €0.85 per
share in respect of the 2016 financial year, unchanged from the
previous year, corresponding to a yield of 4.8% based on the 2016
closing price.
Next release: Half-year financial information
on 25 July 2017 after close of tradingM6 Métropole Télévision is
listed on Euronext Paris, Compartment ATicker: MMT, ISIN Code:
FR0000053225
2 Profit from recurring operations (EBITA) is
defined as operating profit (EBIT) before amortisation and
impairment of intangible assets(excluding audiovisual rights)
related to acquisitions and capital gains and losses on the
disposal of financial assets and subsidiaries.
3 Last trading day with dividend rights: 16 May
2017 - Ex-dividend date: 17 May 2017 - Payment date: 19 May
2017
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version on businesswire.com: http://www.businesswire.com/news/home/20170425006441/en/
M6 Métropole TélévisionINVESTOR RELATIONSEric Ghestemme, +33
(0)1 41 92 59 53eric.ghestemme@m6.frorPRESSAdélaïde Stella, +33
(0)1 41 92 61 36adelaide.stella@m6.fr
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