Earnings Release • May 13, 2009
Earnings Release
Open in ViewerOpens in native device viewer
13 May 2009
| In million euros | |||
|---|---|---|---|
| 3 months to 31 March | 2009 | 2008 | Change |
| Musical Medias and Events | 44.1 | 54.1 | -18.5% |
| Television | 8.8 | 4.3 | +104.7% |
| International Activities | 7.6 | 9.1 | -16.5% |
| Shows and Other Productions | 8.2 | 0.9 | +811.1% |
| Broadcasting | 6.7 | 6.0 | +11.7% |
| Revenues excluding barters and mobile telephony |
75.4 | 74.4 | +1.3% |
| Mobile Telephony | 5.5 | NA | |
| Revenues excluding barters | 75.4 | 79.9 | -5.6% |
| Barters | 1.7 | 1.1 | +54.5% |
| Revenues including barters | 77.1 | 81.0 | -4.8% |
Since 1 January 2009, the Group has applied IFRS 8 Operating Segments. In accordance with this standard, the segment information is based on the internal reports used by the Chairman-Chief Executive Officer and the Deputy Directors in line with the new organisation rolled out at the end of June 2008 following the change of the Group's administration and management structure. Within this context, the Musical Medias and Events division groups together Radio activities as well as Internet and Events activities in France, while the International Activities division includes all income and expenses linked to international activities (excluding broadcasting).
NRJ GROUP's consolidated revenues (excluding barter operations) came to 75.4 million euros in Q1 2009, compared with 74.4 million euros in Q1 2008 excluding mobile telephony, representing an increase of 1.3% (1.3% like-for-like and at constant exchange rates).
***
This performance notably reflects:
Over Q1 2009, in a historically difficult media market, the Musical Medias and Events division generated 44.1 million euros in revenues, compared with 54.1 million euros in Q1 2008, down 18.5% in general and 19% for the radio business alone, which has been hit by the fallout from the economic crisis.
Revenues on the International Activities division totalled 7.6 million euros, 16.5% lower than Q1 2008 due to the downturn in activity on each region as a result of the economic crisis.
In light of the strong audience growth achieved by the Group's television channels, revenues on the Television business have continued to see significant growth. For Q1 2009, they came to 8.8 million euros, compared with 4.3 million euros in Q1 2008, representing an increase of 104.7%. NRJ 12's audience figures have continued to improve, with this channel reaching 1.4% of the national audience in April 2009 (source: Médiamétrie – Médiamat mensuel - 4 years and over). Furthermore, the television division has continued to develop at a satisfactory rate, including the launch of a television news spot on NRJ 12, adding to the channel's general offering, in synergy with the editorial resources of NRJ Paris, the Paris Region's leading regional channel.
The Shows and Other Productions division posted 8.2 million euros in revenues for Q1 2009, up 811.1% compared with the 0.9 million euros recorded in Q1 2008, thanks to the successful launch of the new musical "Cléopâtre", which brought in 7.9 million euros in revenues over the first quarter.
Lastly, the Group's Broadcasting business has continued to develop, particularly on the market for the supplementary digital terrestrial television broadcasting network. Its contribution to the Group's revenues came to 6.7 million euros in Q1 2009, up from 6.0 million euros in Q1 2008, an increase of 11.7%. In total, including revenues generated within the Group, the broadcasting business posted 10.4 million euros in revenues for Q1 2009.
During Q1 2009, excluding NRJ Mobile, the slight increase in the NRJ GROUP's consolidated revenues was achieved on the back of the effective management of operating expenses, with the increase in expenses for developing activities offset by the cost savings achieved on the mature business lines. In addition, the Group is no longer recording any losses on NRJ Mobile.
In Q2 2009, at this stage, the economic context still shows a major deterioration. The Group did not see any reversal in the trend for its advertising revenues in April, and visibility remains particularly limited. As such, the Group is continuing with its efforts to achieve cost savings.
Publication of 2008 revenues (press release on 27 January 2009) Publication of 2008 full-year earnings (press release on 25 March 2009)
The Group will be holding its general meeting on 28 May 2009 at 22 rue Boileau, Paris 16th
Analyst and Investor Information NRJ GROUP – Financial Communications, 22 rue Boileau, 75016 Paris, France Frédéric Patureau / Tel: + 33 1 40 71 78 05 / email: [email protected] NRJ GROUP – ISIN FR000121691 / Reuters: SONO.PA / Bloomberg: NRG FP www.nrjgroup.fr
NRJ GROUP French limited company (société anonyme), with a capital of 861,930.04 euros - SIREN trade register number 332 036 128 PARIS Registered office: 22 rue Boileau, 75016 Paris, France
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.