Stable consolidated revenue: €1,249.8 m
(down 0.6%)
Increase in advertising revenue: €813.9 m
(up 2.1%)
Profit from recurring operations (EBITA):
€200.2 m (down 3.5%)
Margin from recurring operations
(EBITA/Revenue): 16.0%
Regulatory News:
At its meeting of 23 February 2016, the Supervisory Board
reviewed the 2015 financial statements previously approved by the
Executive Board.
en M€
2015 2014 % change
Consolidated revenues 1,249.8
1,257.9 -0.6% Group advertising
revenues 813.9 796.9 +2.1% - of which free channels advertising
revenues 762.0 750.1 +1.6% - of which other advertising revenues
52.0 46.9 +10.9% Group non advertising revenues 435.9 461.0 -5.4%
Consolidated current operating income
(EBITA) 200.2 207.5 -3.5%
Operating income and expenses related to business combinations
(1.1)
(0.3)
n.s
Operating income (EBIT) from continuing
operations 199.1 207.1 -3.9%
Financial income 2.0 3.7 -44.5% Share of profit from
associates 0.9
(0.2)
n.s Deferred and current taxes
(87.1)
(87.4)
-0.3%
Net profit from continuing operations
114.9 123.2 -6.8% Net profit from operations
held for sale 0.0 0.0 n.s
Net profit
114.9 123.2 -6.8% Net profit - Group share
115.0 123.4 -6.8%
In 2015, M6 Group (Paris:MMT) generated consolidated revenue
of €1,249.8 million, down 0.6%, with the healthy momentum of
advertising activities, whose revenue grew by 2.1%, offset by the
fall in non-advertising revenue (primarily Production and
Audiovisual Rights).
Over the full year, Group EBITA totalled €200.2 million,
down 3.5%. The TV business saw its operating profit grow
significantly due to a solid performance in advertising, driven by
audience share gains by the Group’s channels.As a result, the
consolidated margin from recurring operations was 16.0% (vs.
16.5% in 2014).
Net financial income totalled €2.0 million (compared with
€3.7 million at 31 December 2014), reflecting the fall in returns
on cash investments as well as the drop in the average amount
invested.
Income tax totalled €87.1 million, down €0.3 million. The
effects of the fall in operating profit were almost entirely offset
by the one-off effect of deferred income tax and other taxes.
The information provided is intended to highlight the breakdown
of consolidated revenue between advertising and non-advertising
revenue. Group advertising revenue includes the advertising revenue
of free-to-air channels M6, W9 and 6ter, the share of advertising
revenue from pay channels and the share of advertising revenue
generated by diversification activities (mainly Internet).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.
Net profit for the period was €114.9 million compared
with €123.2 million in 2014.
In accordance with IFRS 8, the segment reporting of the Group is
based on 3 operating segments, whose contribution to consolidated
revenue and EBITA was as follows:
9 months 4th quarter
Full-Year in €m
2015 2014 r % 2015 2014 r
% 2015 2014 % TV 581.7 575.7
1.0% 240.4 237.5 +1.2% 822.1 813.2 +1.1% Production &
audiovisual rights 70.5 81.1 -+13.1% 23.1 30.3 -23.6% 93.6 111.4
-15.9% Diversification 242.8 241.5 0.5% 91.0 91.5 -0.6% 333.7 333.0
+0.2% Others 0.3 0.3 n.s 0.1 0.2 n.s 0.4 0.4 n.s
Consolidated revenues
895.2 898.5 -0.4% 354.6
359.4 -1.4% 1,249.8
1,257.9 -0.6% TV - - - - - - 155.7
144.0 +8.1% Production & audiovisual rights - - - - - - 7.0
10.3 -31.8% Diversification - - - - - - 42.8 55.6 -23.0%
Eliminations and unallocated items - - - - -
-
(5.3)
(2.4)
n.s
Consolidated current operating income (EBITA)
133.1
140.2
-5.0%
67.1
67.3
-0.3%
200.2 207.5 -3.5%
TELEVISION
Over the year as a whole, M6 Group’s free-to-air channels
achieved an average audience share of 13.6%, up 0.2 pp
year-on-year (4+ year olds, source: Médiamétrie), and of 21.3%
on the commercial target, up 0.5 pp year-on-year (WRP<50,
source: Médiamétrie), meaning it was the only historical group to
achieve growth on this target:
- The M6 Channel maintained its second-place ranking amongst
the under 50s, advanced its major brands and created new
must-see shows.Across audiences as a whole, M6 consolidated its
status as the third largest national channel with a 9.9% audience
share. M6 was even named French viewers’ favourite free-to-air
channel (IFOP study carried out between 22 and 28 December
2015).These results were due to the strategy implemented by
M6:
- Successful launch of new programmes (The
Island, Scorpion, Chasseurs d’appart, etc.);
- Further growth of major brands (Le Meilleur
Pâtissier, Top Chef, l’Amour est dans le Pré, Les Reines du
shopping, Scènes de Ménages, NCIS, etc.);
- Continued popularity of major current
affairs programmes (Capital, Zone Interdite, Enquête exclusive,
news broadcasts, etc.);
- W9 retained its position as the
leading DTT channel amongst the under 50s with a 4.1% audience
share.Over the full year, W9 achieved a national audience share (4+
year olds) of 2.6%, which was stable year-on-year and an audience
share of 3.8% on the target of women under 50 responsible for
purchases (up 0.2 pp).These performances were the result of both a
major policy to produce original programming in access primetime
(Les Chtis, Les Marseillais en Thaïlande, Les Princes de l’amour,
Soda, La Petite Histoire de France) and a varied and impressive
range of programmes in early primetime (Enquête d’action, Enquêtes
Criminelles, Europa League, films);
- 6ter proved to be the most successful channel in 2015,
recording the highest growth of all channels, both across all
viewers (1.1%, up 0.4 pp) and on the commercial target (2.1%, up
0.8 pp), due to its original magazines such as Norbert, Commis
d’office, Storage Wars France, original series, entertainment shows
and a schedule of blockbuster family films.
In 2015, M6 Group capitalised on its solid audience figures to
post an increase in advertising revenue for its free-to-air
channels, which grew 1.6% (up €11.9 million), outperforming an TV
market which grew by an estimated 0.5% (source: IREP, 29/01/2016
estimate).
The TV division contributed €155.7 million to EBITA, an
increase of €11.7 million compared with 2014, with a programming
cost for the free-to-air channels of €418.5 million, a modest
increase of 0.7% in spite of investment in 6ter.
The margin from recurring operations thus totalled 18.9%
(vs. 17.7% in 2014).
PRODUCTION & AUDIOVISUAL RIGHTS
Revenue from Production and Audiovisual Rights operations
totalled €93.6 million in 2015, down 15.9% in comparison
with 2014, with EBITA of €7.0 million (down €3.3 million)
due to a less favourable cinema release line-up than in 2014,
(8.1 million admissions for films distributed by SND
in 2015, compared with 12 million in 2014, which was marked by the
cinema release of Astérix, Le Domaine des Dieux).
2015 was notable for the box office success of Divergente 2 (2.4
million admissions), Prémonitions (1.0 million) and La Rage au
ventre (0.7 million), all distributed by SND.
In addition, 2015 proved to be an exceptional year for M6 Films,
with more than 20 million cinema admissions for co-produced
films. Five of these films achieved more than 2 million admissions:
Pourquoi j’ai pas mangé mon père, Taken 3, Papa ou maman,
Babysitting 2 and Les nouvelles aventures d’Aladin, which, with
almost 4.5 million admissions, was the most seen French film of
2015.
DIVERSIFICATION
Diversification revenue totalled €333.7 million in 2015
(up 0.2% compared with 2014), with a €42.8 million
contribution to EBITA, which fell by €12.8 million, primarily due
to:
- Ventadis, whose EBITA fell by €5.7 million as a result
of a decline in home shopping activities, in line with consumer
spending and a product catalogue undergoing a phase of
renewal;
- F.C.G.B, whose losses increased to €10.6 million due to
investments made in the club's players;
- M6 Web, with profit from recurring operations of €32.8
million, compared with €33.6 million in 2014.Revenue for M6 Web
grew €12.5 million (13.7%), to €104.3 million due to the
integration of Oxygem, a company acquired in early 2015
which operates various websites (CuisineAZ.com, Passeportsanté.net,
Radins.com, Météocity.com and Fourchette-et-bikini.fr), and which
led to the Group being positioned as the leading French TV Group
online with 13.4 million unique monthly visitors (source:
Médiamétrie-Nielsen Netratings, November 2015).
CHANGE IN FINANCIAL POSITION AND OUTLOOK
At 31 December 2015, Group equity totalled €583.9 million,
stable year-on-year, with a positive consolidated net cash position
of €176.5 million.
2016 will be dependent on the state of the advertising market,
which is difficult to predict, but within which M6 Group aims to
convert its growing audience figures into market share.
DIVIDENDS
At the Combined General Meeting called for 26 April 2016, the
Executive Board will propose the payment of a dividend of €0.85 per
share, unchanged from the dividend paid in 2015. The ex-dividend
date will be 18 May and dividends will be paid on 20 May 2016.
Results will be presented to financial analysts
in a webcast starting at 6.30 pm (CET) on 23 February 2016 on the
Group's website at www.groupem6.frDetails on how to access the
webcast are available at www.groupem6.fr/FinancesBoth the slideshow
and annual consolidated financial statements will be available
online at 6:00 pm (CET), it being specified that the audit
procedures have been carried out and the Statutory Auditors’ report
on the financial statements is being prepared.
Next release: First quarter 2016 financial
information: 26 April 2016 before start of trading.
M6 Métropole Télévision is listed on Euronext
Paris, Compartment A.Ticker: MMT, ISIN code: FR0000053225
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160223006443/en/
M6 METROPOLE TELEVISIONRELATIONS INVESTISSEURSEric
Ghestemme, 01 41 92 59 53eric.ghestemme@m6.frorRELATIONS PRESSEYann
de Kersauson, 01 41 92 73 50ydekersauson@m6.fr
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