SIC, SA Informs on 2020 Results
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2020 RESULTS SIC - Sociedade Independente de Comunicação, S.A. Share Capital: Eur 10,328,600 Head Office: Rua Calvet de Magalhães, n.º 242, 2770-022 Paço de Arcos NIPC 501 940 626 Commercial Registry Office of Cascais 1 Contents 1. ANALYSIS OF THE CONSOLIDATED ACCOUNTS ........................................................... 3 2. AUDIENCES ..................................................................................................................... 4 3. SIC 2019-2022 BONDS .................................................................................................... 6 4. AWARDS .......................................................................................................................... 6 5. OPTO and ADVNCE ........................................................................................................ 8 6. OUTLOOK ........................................................................................................................ 8 2 2020 RESULTS SIC's Net Income exceeded M€ 17.3 in 2020 (values in Euros) 2020 2019 var % EBITDA increased by 12.9%, reaching M€ 30.5. SIC led the Totalaudiences Revenues with a share of 20.1%,178 089 the 666 best 181result 870 since149 2013-2,1%. Television 152 168 537 155 249 404 -2,0% SIC achieved Publishinga 51.3% market share of advertising23 272 833 investment24 188 391 among-3,8% generalist channels. 2020 year wasInfoportugal marked by& Others the launch of the2 139 OPTO 588 and 2ADVNCE 233 365 projects-4,2%. Intersegments 508 708 198 988 155,6% Operating Costs (1) 146 979 160 156 768 853 -6,2% 1. ANALYSISTotal EBITDA OF THE CONSOLIDATED31 110 506 ACCOUNTS25 101 296 23,9% EBITDA Margin 17,5% 13,8% Television 30 489 830 27 002 248 12,9% Publishing 3 035 176 274 654 1005,1% (values(valores(valores in emEuros) em €) €) 20202020 201920192019 varvarvar %% % Infoportugal(valores & Others em €) -2 4142020 500 -2 1752019 605 -11,0%var % RevenuesReceitasReceitas 152152152 168 168 537 537 155155155 249 249249 404 404 404 -2,0%-2,0%-2,0% Receitas 152 168 537 155 249 404 -2,0% TotalAdvertising PublicidadeEBITDAPublicidade (2) 993199 829 395829 998 471998 10510510527 743 727 743743 980 134980 980 13,2%-5,6%-5,6%-5,6% Publicidade 99 829 998 105 743 980 -5,6% EBITDAChannelSubscriçãoSubscrição Margin Subscriptions Canais (2) Canais 3232 939 17,6%939 603 603 3434 34308 15,2% 308308 874 874 874 -4,0%-4,0%-4,0% Subscrição Canais 32 939 603 34 308 874 -4,0% Multimedia IVR IVR 1616 201 201 650 650 1111 11278 278278 342 342 342 43,7%43,7% IVR 16 201 650 11 278 342 43,7% DepreciationOtherOutrasOutras revenues receitas receitas 3 19753 335197 285 362285 3 918353 918849918 209 209 203209 -18,4%-8,8%-18,4% Outras receitas 3 197 285 3 918 209 -18,4% EBITCustos Operacionais (1) 12125 678 775 707 144 12819 247 252 157 094 33,9%-5,1% OperatingCustosCustos Costs Operacionais Operacionais (1) (1) (1) 121121121 678 678 707 707 128128128 247 247247 157 157 -5,1%-5,1%-5,1% EBIT Margin 14,5% 10,6% EBITDAFinancial Results 30-8 489 890 830 025 27 -7002 330 248 997 -21,3%12,9% EBITDAEBITDAEBITDA 3030 489 489 830 830 272727 002 002002 248 248248 12,9%12,9%12,9% EBITDAMargemMargemMargem Margin EBITDA EBITDA EBITDA (%) (%) (%) (%) 20,0%20,0%20,0% 17,4%17,4%17,4%17,4% Res.EBITDAEBITDA EBITDABefEBITDA (2) Taxes (2) (2) (2) & Minorities 301630 76630 885766 766 249 119249 249 2828 112819128 191 921191191 439 439 096439439 41,6%9,1%9,1%9,1%9,1% EBITDAMargemProvisionsMargemMargem Margin EBITDA EBITDA EBITDA (2) (%)(2) (2) (%)(2) (%) (%) 20,2%55820,2%20,2% 001 18,2%34118,2%18,2%18,2% 400 63,4% Income Tax (IRC)(-) 5 106 880 3 743 776 36,4% NetResultados ProfitResultadosResultados Líquidos Líquidos Líquidos 171117 32517 220325 325 398 238398 398 1515 319715 835319 319 909 909921 909 43,2%13,1%13,1%13,1% Notes: EBITDA = Operating Results + Amortisation and Depreciation + Provisions + Impairment in non-current assets. (1) Does not consider Amortisation and Depreciation, Provisions and Impairment Losses in non-current assets. (2) EBITDA adjusted for restructuring costs. 3 SIC achieved total revenues of €M 152.2, In the 1st quarter of 2020, a pre- reflecting a 2% reduction, as a result of the pandemic period, SIC's positive decline observed in all revenue streams, performance in all lines of with the exception of IVRs. advertising revenues stood out in particular, with year-on-year Advertising revenues reached M€ 99.8, growth of 9%. corresponding to a 5.6% reduction compared to 2019. IVR revenues grew by 43.7%, having reached M€ 16.2. SIC achieved a 51.3% market share of advertising investment among the The 5.1% reduction (M€ 6.6) in operating generalist channels, having grown by 1.4 costs was higher than the reduction of p.p. compared to 2019. revenues (M€ 3.1), giving rise to a 12.9% Subscription revenues generated by the increase in EBITDA to M€ 30.5. EBITDA 8 SIC channels, distributed over cable and adjusted for compensations amounted satellite, in Portugal and abroad, fell by 4% to M€ 30.8. in 2020 to M€ 32.9. This decrease was The net income recorded in 2020 mainly due to the negotiation of contracts exceeded M€ 17.3, corresponding to with international operators. growth of 13.1%. 2. AUDIENCES SIC ended 2020 as audience leader in the The interview of António Costa on Jornal universe of generalist channels, with an da Noite, on 16 March, was the most average share of 20.1% in terms of watched information programme, with consolidated data. This figure was 0.6 p.p. 1,893,300 television viewers. higher than in the same period of the previous year, with SIC being the only FTA The comedy programme, Isto é Gozar Com channel to have increased in total Quem Trabalha, presented by Ricardo television. Araújo Pereira, premiered in March, leading with historic results, and with the 26 April edition having been the entertainment programme with the In 2020, SIC audiences attained their largest audience in best annual result since 2013. 2020. SIC consolidated its leadership in prime time, in the universe of generalist Excluding football matches, the 5 most channels, with an average share of 24.3% watched information and entertainment in terms of consolidated data, which programmes of Portuguese television represented an increase of 2.4 p.p. in were broadcast by SIC in 2020. relation to 2019, and the only increase in total television. 4 This result was driven by the performance SIC's universe of channels ended the of the fiction products broadcast on year leading with a share of 22.9% and prime time, namely the soap operas 23.1%, respectively. Nazaré, Terra Brava, Golpe de Sorte, A Dona do Pedaço, Amor de Mãe and SIC's subscription channels achieved a Totalmente Demais, as well as the market share of 3.8%, for the year as a weekend whole. entertainment: A Máscara, Isto é Gozar SIC Notícias continued ranked in the Com Quem Trabalha, first place of the information channels, 24 Horas de Vida, A with a share of 2.2%, having risen by 0.4 Árvore dos Desejos, Estamos Aqui, Olha p.p. year-on-year. Por Mim, Terra Nossa, Quem Quer Namorar com o Agricultor?, O Noivo é que This channel achieved its best result ever Sabe and Patrões Fora. in terms of number of television viewers (50,400), in addition to the best result in SIC continued unbeatable in day time. SIC terms of market share and stronger was leader in the mornings, with a share of differentiation in relation to the direct 20.2%, and in the afternoons, with a share competition, since the beginning of the of 18.6% share, in terms of consolidated GfK audience measurement panel (March data. 2012). Regarding the rest of the thematic In information, Primeiro Jornal and Jornal channels, SIC Mulher achieved a market da Noite were the most watched share of 0.8%, SIC k reached 0.4%, SIC K throughout the 7 days of the week. This reached 0.3% and SIC Caras reached success was also driven by the different 0.2%. items broadcast, such as Opinião de Luís Marques Mendes, O Polígrafo, SIC Investigations and Feature Stories, Casos In 2020, the aggregate SIC brand de Polícia, 15|25, in addition to the daily websites attained the highest ever coverage of the developments related to monthly average of Unique Visitors: the Covid-19 pandemic. 2,317,452. This value represents growth of 27.6% in relation to the period between As a whole, generalist and thematic SIC January and December 2019. closed 2020 with a market share of 23.9%, reflecting growth of 0.6 p.p. compared to 2019. In the commercial targets, A/B C D 15/54 and A/B C D 25/54, 5 3. SIC 2019-2022 Bonds SIC 2019-2022 Bond Prices The SIC 2019-2022 Bonds, listed for 108 trading on regulated markets (Euronext Lisbon), on 10 July 2019, ended the year of 104 2020 trading above par (100.81%), having fluctuated between 95% and 104.99% 100 Price (%)Price 100 Price (%) Price during this period. 96 96 The average number of bonds traded in 92 each session of the year was 17,230. 92 jan-20 fev-20 mar-20 abr-20 mai-20 jun-20 jul-20 set-20 jan-20 fev-20 jun-20 abr-20 out-20 dez-20 ago-20 nov-20 mai-20 mar-20 Data: Euronext 4. AWARDS In January 2020, SIC was Honourable Mention in the same category, attributed the Five Stars for the feature story “E de nós, quem Award 2020, in the "TV – cuida?”. Generalist Channels" category. The station repeated this feat at The SIC Grande Reportagem “Ensaio the end of the year, by also winning the sobre a saúde na Guiné-Bissau”, by Dulce Five Stars Award 2021, in the same Salzedas, Rafael Homem and Luís category.