Investor Day 2008

IMPRESA Strategy for 2008

IMPRESA

www.impresa.pt Lisbon, November 28th, 2007 Agenda

1. Group Structure 2. Advertising Market 3. IMPRESA Digital 4. EDIMPRESA 5. IMPRESA Jornais 6. SIC 7. Financials 8. Objectives

2 Main drivers for 2008

Improving economic environment in Portugal

Business expansion, driven by new activities

Multimedia part II : Internet

Focus in cost control

3 The Group Structure

100% 50% 100% 100%

Newspapers Magazines Television Multimedia

-Dialectus -ITL - TDN (July 08) - InfoPortugal

4 Advertising Market

IMPRESA Strategy for 2008

5 Advertising Market in Portugal

Although, the ad market is driven by GDP growth, large events will play a bigger role in 2008

The year of 2008 will be marked big events European Soccer Championships Peking Olympics Winter Olympics Rock-in-Rio III

6 Ad Market – Estimates for 2008

Jun-07 Dec-07 2008

TV 2,4% 1,7% 2,4% Cable 21,0% 16,1% 4,0% Press 2,3% 2,4% 1,0% Radio -2,3% -2,0% 1,0% Outdoor 4,5% 4,6% 2,0% Cinema -8,4% -9,0% 0,5% Internet 136,4% 119,7% 90,0%

Total 4,1% 3,7% 3,9% Source: Media Agencies & IMPRESA Internet Advertising will be the fastest growing segment By 2009, Internet adverting will represent 6% of the market, overtaking Radio and Cable.

7 Digital

IMPRESA Strategy for 2008

8 IMPRESA Digital – B2C to B2B

9 2007: aeiou

January: new logo

March: new portal design, new aeiou.pt BLá confirmed as the most popular chat room

10 2007: aeiou

Internal January: new logo

March: new portal design, new aeiou.pt

Fine tune of editorial strategy Consolidation of community sites Consolidation of Outside Services software solutions

Plataform / Service Ad-Server [Zahir3]

Plataform AEIOU content management / community [Token/d]

11 2008:aeiou

December: facelift aeiou.pt

To help integrate the sites of Group IMPRESA – Blitz, Visão, Turbo already present

New features

12 ITL – IMPRESA Turismo e Lazer

Starting from the Expresso guides, both in paper and Internet

To become the market leader in the production of multiplataform contents for the tourism and leisure in Portugal

Supply contents to the group IMPRESA and other clients

13 MyGames.pt Concept

MyGames is a cross-media project, with presence on Internet, on Press and Television.

Objective is to create a Portuguese marketplace in the videogames world, from publishing the best editorial to digital distribution

Mygames − TV show (July) − Games Magazine (Sept) − Games Portal in Oct

14 MyGames in the Internet – since Oct07

15 MyGames on Press and TV

Multiplatform brand For 2008: − introduction of GOD – Games-on- Demand by subscription − Online store, to distribute of games from the major platforms

16 Digital Guest Services − Fully digital, interactive, easy customisation and capacity to cross sell other products Video, Internet, Customer Services

20,000 rooms, already under contract to roll out until 2010. − 6 Hotel chains − 80 Hotels − 1º Hotel started in July − 8 hotels open by end Oct – 1,800 rooms − 4,000 – 14 hotels - by end of 2007 − Hotels in Brazil by end of 2008

In 2008, to install 6,000 rooms

Objective: To have 40,000 rooms by 2010

17 InfoPortugal

Background − Founded in 2001, at Oporto − Team of 50 people − Continuous growth, with profitability from the start Main activities − Databases of geo referenced digital contents − Developed of solutions to market the digital contents Portfolio − Largest cartography database and POI in Portugal − Digital aerial photo of all territory − Specialized solutions: portals, 3D modelling, simulators

18 INFOPORTUGAL

Cartography 2D of Oporto and Lisbon − 170.000 Km of roads

POI – Over 71.000 Points of interest − Hotels, Restaurants, Monuments, Museums, Teathers, Cinemas, Beach’s, Public Services pharmacies ...

Synergies with Expresso BCBM and Actual

Photos (10.000+)

Total coverage of mainland Portugal and Islands by end of 2007

Began POI coverage of Spain

19 Launch of Impresa.com

Internet Sales House

20 Magazines

IMPRESA Strategy for 2008

21 Magazines Top 10

22 Performance main Magazines

Circulation Numbers Circulation Numbers 2007 180.000 2007 100.000 160.000 +9.8% 90.000 +9.8% +2.4%+2.4% 140.000 80.000

120.000 70.000 2006 2006 60.000 100.000 50.000 80.000 40.000 60.000 Jan Fev Mar Abr Mai Jun Jul Ago Set Out Nov Dez Jan Fev M ar Abr M ai Jun Jul Ago Set Out Nov Dez

Circulation Numbers Circulation Numbers

2007 120.000 29.000 110.000 2007 -0.4%-0.4% 27.000 +9.6%+9.6% 2006 2006 100.000 25.000

90.000 23.000

80.000 21.000

70.000 19.000

60.000 17.000 Jan Fev Mar Abr Mai Jun Jul Ago Set Out Nov Dez 15.000 Jan Fev Mar Abr Mai Jun Jul Ago Set Out Nov Dez

23 Re-launch of Visão

Circulação paga Jan 06-Out 2007

160.000

140.000

120.000 Visão 100.000 Sábado

80.000

60.000

40.000

6 6 6 7 7 7 0 0 0 0 r- i- l-0 - r-0 t- u ov-06 n ai-07 ul-07 e Jan-06 Ma Ma J Set-06 N Ja Ma M J S

24 Internet Presence

Brand

Launching year 2006

Print and Digital Associated products Business Model Advertising Advertising Advertising Subscriptions selling selling

25 The Contents for the Digital Offensive

Women Women Brands

People People

Men

Home Men

Travel General Interest Food & Home and Health & Parenting

Auto Business Computer/Gadget

Media Guide Information

Information Culture Auto

Kids Computer

Business Tennager Transaction Travel

26 27 Netjovens.pt

Community Site developed for teenagers

15 millions of monthly page views

243.000 registered users

Portal with web 2.0 characteristics : Blogs, chat’s, Photo Albuns, message board, Smiles, Friend’s list (like hi5) e some targeted contents

Today uses Google Adsense to capture advertising (8.000€/m)

Objectives for 2008: − More Users − More contents – SIC news , Visão and Caras − New functionalities - UGC, “Espaço Emprego”

28 29 Main drivers of 2008

Focus is Multimedia – read Internet – launches happening right now! − Revenue model driven by advertising, transaction’s and Mobile content

5 New Websites, bringing the total to 8 editorial websites

Maintain circulation of principal magazines with restyling

Cost evolution favourable.

30 Newspapers

IMPRESA Strategy for 2008

31 Evolution in 2007 – Main trends

EXPRESSO renovation is a success − Maintain overall circulation − Expands the advertising share − Multiplatform newspaper

AutoSport and Blitz turnaround’s

Courrier with small improvement’s

First full year of IMPRESA Classificados

Costs, after the re-launches, are under control

32 Expresso Re-launch

Expresso Circulation Numbers 230.000 2007 210.000

190.000

170.000 2006 150.000

130.000

110.000

90.000

70.000

50.000 123456789101112

33 Expresso Re-launch

Average Paid Circulation Sept06 to Sept07

Sol

Expresso

0 20.000 40.000 60.000 80.000 100.000 120.000 140.000 Copies per edition

34 New www.expresso.pt

134 Videos 452 SlideShows

35 AutoSport & Blitz

Autosport Circulation Numbers

15000 2006 2007 Site AutoSport : 13000 pageviews grows 365% to 11000 1.6 M 9000

7000

5000 123456789101112

Blitz Circulation Numbers

2006 19000 2007

17000

Site Blitz : 15000 pageviews 13000 grows 523% to 11000 0.9 M 9000 7000

5000 1 2 3 4 5 6 7 8 9 10 11 12

36 www.autosport.pt & www.blitz.pt

37 What to expect from 2008

Re-launch of Courrier as a magazine

Cover prices

Advertising online – strong growth over 2007 figures

Focus on Events

Cost environment is favourable

38 Television

IMPRESA Strategy for 2008

39 SIC Universe

40 SIC Diversification Drive

SIC Revenues Mix 2000

Subscription Others 3,3% Merchandising 0,7% 1,3%

Advertising 94,7% SIC Revenue Mix Sept 2007

Multimedia 10,2%

Others 1,4% Advertising Subscription 62,8% 18,3%

GMTS 1,8%

Merchandising 2,0%

41 Audience Performance

Morning Audiences- Quarterly average Afternoon Audiences - Quarterly average

27,1% 27,3% 26,7% 26,6% 26,8% 27,5% 27,5%

25,6% 25,8% 25,2% 25,2% 25,3% 24,8% 24,1%

22,6% 22,2%

1ºQt 06 2ºQt 06 3ºQt 06 4ºQt 06 1ºQt 07 2ºQt 07 3ºQt 07 Oct/Nov 1ºQt 06 2ºQt 06 3ºQt 06 4ºQt 06 1ºQt 07 2ºQt 07 3ºQt 07 Oct/Nov

Prime-Time Audiences - Quarterly average Late Night Audiences- Quarterly average

29,2% 30,4% 30,6% 29,9% 27,2% 29,1% 26,7% 27,9% 25,9% 26,8% 25,0% 24,7% 23,8% 25,3% 23,2% 24,2%

1ºQt 06 2ºQt 06 3ºQt 06 4ºQt 06 1ºQt 07 2ºQt 07 3ºQt 07 Oct/Nov 1ºQt 06 2ºQt 06 3ºQt 06 4ºQt 06 1ºQt 07 2ºQt 07 3ºQt 07 Oct/Nov

42 Thematic channels

Cable Audiences up to Oct 2007 (%)

11,7

AXN 10,6

Panda 8,2 SIC Notícias kept number one spot FOX 5,3

Hollywood 4,9 SIC Noticias is already in

RPTN 4,9 Angola, Moçambique, Cabo Verde and USA SportTV 3,8

3,5 SIC Internacional

3,3 maintains growth rate, with over 140,000 Odisseia 3,1 subscribers.

43 Multimedia becomes a strong revenue driver

Internet portal – downloads, video’s, advertising

Mobile TV started in April 2007, with Vodafone

1st generation IVR – “Domino” and “Arvore das Patacas”- started in 2006

2nd generation IVR – Call TV

44 Turn TV hits into merchandising success

Sold over 300,000 CD’s in 2007

Five platinum CD’s in 2007

Over 200 lines of products

Pc & Mobile Games

45 GMTS & DIALECTUS

Market leader in TV services – translactions, dubbing and subtitling. Over 6500 titles Expanding to Websites

GMTS no1 in TV production services

New business - Bloom

For 2008, the objective is to increase its international presence - Spain

46 TDN - Terra Do Nunca Produções

Partnership between SIC and TG, to produce fiction. SIC holds 30%, which will increase to 60% by July 2008.

In 2007, it produced “Chiquititas” and “Resistirei”

3 Studios with an area 3,300 sqm

Currently up to 350 people working.

In 2008, aims to produce up to 800 hours of soap’s

It will start to be consolidate from the 3rd quarter 2008

47 Financials

IMPRESA Strategy for 2008

IMPRESA

48 Investments

Capex rises on investment on: − IMPRESA Digital

11 M€ DGS 9.5 M€ − 4.5 M€ SIC Digitalisation + HD − Internet 4.5 M€ 7 M€

Newspaper and magazines is 2005 2006 Sept 07 2008e now more maintenance capex, after the pick-up in internet investment in 2007

WC stabilizes, as fiction production goes into cruise

49 IMPRESA Revenues

Revenues Evolution 2008e (M€)

12 4,3

34,3 300,0

55,4

202,2

Television Newspapers Magazines IMPRESA Digital Inter-segments Revenues 2008e

50 EBITDA Evolution

EBITDA Evolution 2008e (M€)

1,1 2,6 3,0

11,5

55,0

Television Newspapers Magazines IMPRESA Digital Holding Costs EBITDA 2008e

51 IMPRESA Net Profits

Net profits 2008e (M€)

9,5

12,5

55,0 9,2

1,6

22,2

EBITDA 08 Depreciation Financials Taxes Minorities Net Profit 08

52 Conclusions

Growing revenues, new business

Multimedia, with more focus on the Internet

Improve profitability

Reduce Debt

Objectives for 2008

Turnover 300 M€

EBITDA 55 M€

Net Profit 22 M€

53 Investor Day 2008

IMPRESA Strategy for 2008

IMPRESA