Corporate Presentation Tamedia We help you make sense of an increasingly complex world with a wide range of perspectives and by offering structure and choices to our customers – since 125 years.
October 2018 The history of Tamedia The Tages-Anzeiger was founded in 1893 The first newspapers – from today’s perspective – published at the beginning of the 17th century. In 1893, Wilhelm Girardet, a publisher, sets up the Tages-Anzeiger together with editor Fritz Walz. On 2 March, the first issue is published, then widely distributed free of charge for one month. In 1902, due to its huge success, the company moves to its present location on Zurich Werdstrasse. The history of Tamedia Growth in the 20th century and stock market flotation The company continues to grow through takeovers and in-house developments. The printing facility in Zurich opens in 1984, the one in Lausanne in 1989, and Berne in 2005. On 2 October 2000, the company goes public with a new name, Tamedia AG. As of 2003, Tamedia progressively increases its involvement in the media brand 20 Minuten. The history of Tamedia Mergers and takeovers in the new millennium In 2007, Tamedia merges with Espace Media Groupe, Berne. In April 2010, Tamedia takes over Zürichsee-Zeitung and Zürcher Unterländer from the NZZ group. In 2011, Edipresse Suisse and Tamedia merge their businesses as previously announced in 2009. In 2014, Der Landbote joins the family of Tamedia’s newspapers, Basler Zeitung follows in 2018. The history of Tamedia Investments and reorganisation of the advertising market Sustained decline in print advertising with simultaneous growth of online advertising. Tamedia's advertising market organisation has operated under the name of Tamedia Advertising since 2016. Outdoor advertising was added in 2017 when a majority interest in Neo Advertising was acquired. Tamedia acquired Goldbach in 2018, further consolidating its position on the Swiss advertising market. The history of Tamedia New digital business segments since the mid-90s As of 1996, newspapers start to launch their news platforms, the classifieds platforms follow in 1997. Holdings in digital platforms, with Homegate being the first in 2008. In 2014, Tages-Anzeiger and Der Bund introduce the first payment model, others follow gradually. Further takeovers follow, such as all Ricardo platforms in autumn 2015. The Tamedia group at a glance Regional publications in Greater Zurich, and weekend Tages-Anzeiger SonntagsZeitung
Der Landbote Zürichsee-Zeitung Zürcher Unterländer
Page 8 * participations The Tamedia group at a glance Regional publications in Greater Basel and Greater Berne Basler Zeitung
BZ Berner Zeitung Der Bund * *
Page 9 * participations The Tamedia group at a glance Regional titles in French speaking Switzerland, and weekend Tribune de Genève 24 heures Le Matin (Online)
Le Matin Dimanche
Page 10 The Tamedia group at a glance Commuter titles in Switzerland and abroad 20 Minuten / 20 minutes / 20 minuti *
L’essentiel (LU) * BT/MetroXpress (DK)* Heute (AT) *
Page 11 * participations The Tamedia group at a glance Special investors’ interest and magazines Finanz und Wirtschaft Bilan
Schweizer FamilieDas Magazin TV magazines
*
Page 12 * participations The Tamedia group at a glance Titles and platforms for women, lifestyle, fashion and art Annabelle Fémina
Tribune des Arts Encore
Page 13 The Tamedia group at a glance Classifieds and market places in Switzerland and abroad Homegate & Immostreet Ricardo Autoricardo *
JobCloud, mit Karriere (AT) * Tutti Tradono & Trendsales (DK)
Page 14 * participations The Tamedia group at a glance Online participations in all parts of Switzerland Olmero & Renovero Doodle Starticket
Helpling * Zattoo * Local Search *
Page 15 * participations The Tamedia group at a glance Three print centres in three major economic areas
3 printing machines with 3 printing machines from 4 printing machines with a total of 72 pages different manufacturers a total of 96 pages Nightly print run of about Nightly print run of about Nightly print run of about 500,000 newspapers 400,000 newspapers 1 million newspapers
Page 16 The Tamedia group at a glance 3’700 employees in Switzerland and across Europe
Tamedia employs a staff of 3’700 with some Most Tamedia employees work in Basel, Berne, 3’600 full-time posts in more than 260 functions. Geneva, Lausanne, Winterthur, Zug, and Zurich. About 1’500 women and some 2’200 men make However, we also have staff members at sites in up the total workforce, whose members come Austria, Denmark, France, Germany, Israel, from over 50 countries. Luxemburg, and Serbia.
Page 17 The Tamedia group at a glance Tamedia in Switzerland
Basel Bülach
Glattbrugg Winterthur St. Gallen Schlieren Zurich Küsnacht Langenthal Wädenswil Editorial offices and online platforms Zug Online platforms Regional editorial offices Burgdorf Luzern Advertising market / Goldbach Berne Printing facility Payerne Yverdon Thun Interlaken Bussigny Lausanne Vevey Nyon Aigle Geneva
Lugano
Page 18 The Tamedia group at a glance Tamedia abroad
Kopenhagen
Berlin Düsseldorf Luxemburg Unterföhring (Munich) Editorial offices Salzburg Vienna Online platforms Constance Engineering centres Advertising market / Goldbach Belgrad Valbonne (Antibes)
Page 19 Tel Aviv The Tamedia group at a glance Board of Directors and Management Board of Tamedia
Christoph Brand Marina Classifieds & de Planta Marketplaces Pietro Supino Christoph Tonini Editor CEO und President Samuel Hügli Technology & Martin Ventures Andreas Schaffner Sverre Coninx Publishing Services Munck Michi Frank Goldbach Martin Kall Konstantin Richter
Sandro Macciacchini Finance & Human resources Pierre Lamunière Marcel Kohler Advertising & Serge Reymond Commuter Media Page 20 Paid Media & User Market The strategy of Tamedia What drives us ahead – and where we want to go
Our Mission Our Identity Our Vision
We help you make sense of We are proud of our heritage We want to become one of an increasingly complex and keep our eyes on the Europe’s leading digital world with a wide range of world. As Switzerland’s media enterprises by 2020, perspectives and by offering leading private media providing strong journalism, structure and choices to our group, we see digitalisation attractive advertising customers. as the foremost opportunity options and services. to reach new customers and markets.
Page 21 The strategy of Tamedia The leading digital media company in Switzerland
Tamedia is the 66 percent of the Our classifieds and The digital business is largest private people in marketplaces and already generating media enterprise in Switzerland are our other online 39.3 percent of our Switzerland. reading one of interests act sales and 82.3 Tamedia’s papers independently, percent of our EBIT. or magazines and although they 80 percent are complement each using one of its other. online platforms. The strategy of Tamedia IAS 19 and payment default affect half year result 2018
2017-6 2018-6 -28 -9 0% 24 55 19.9% 11.0% 45 478 478
2017-6 2018-6 -4 Pension costs pursuant EBIT margin Normalised result to IAS 19 in CHF millions
-33% -45% 127 -48% 95 85 77 53 40
Revenue EBITDA EBIT Net income Revenue and net income in 2018-6 in CHF millions The strategy of Tamedia Our origins lie in printed newspapers …
1′899
534 477 380 373 325 292 278 239 229
20 Minuten Blick am Blick Tages- az BZ/Bund GES Luzerner St. Galler Neue Zürcher ZRZ Zürcher National GES Abend Anzeiger Nordwestschweiz Zeitung GES Tagblatt GES Zeitung Regionalzeitungen National GES GES N GES N
Readership figures for leading dailies in Switzerland, in thousands
Source: MACH Basic 2017-2 CH (including replica if available) The strategy of Tamedia … with a good position in the commuter papers market
1′321
171 534 496 477 130 43 162 103 92 90
Blick Blick 24 Corriere La Luxem- Tageblatt am Heures Regione burger Abend Wort Readers, Luxembourg in thousands*** Readers, Switzerland in thousands*
425 2′173
237 171 938 784
Poli-Jyllands- Kronen Kleine tiken Posten Zeitung Zeitung Readers, Denmark in thousands** Readers, Austria in thousands**** *Source: MACH Basic 2017-2 CH; **Source: Kantar Gallup, 1. halvår 2017; ***Source: TNS ILRES Plurimedia Luxembourg 2017.II (including replica); **** Source: VMA (Verein Arbeitsgemeinschaft Media-Analysen, Media Analysis Working Group Association) 2016/2017 The strategy of Tamedia Each editorial office has its own editor-in-chief
Paid media
Zürcher Tages- Sonntags- Berner Tribune de Le Matin Der Bund Regional 24 heures
Title Anzeiger Zeitung Zeitung Genève Dimanche Zeitungen
Tamedia Editorial Office, German-speaking Switzerland Tamedia Editorial Office, French-speaking Switzerland Domestic, foreign, business, panorama, sports, Magazine: culture, knowledge, society, service, digital innovation, Domestic, foreign, business, Tamedia research desk sports, research desk Editorial Office Editorial
Editorial Services, German-speaking Switzerland Editorial Services, French-speaking Switzerland Layout, text production, Layout, text production, Services Editorial picture editing, photographers, proofreading picture editing, photographers, proofreading The strategy of Tamedia Harmonised editorial system and layout for daily titles
Tamedia Editorial Office & Tamedia Editorial Services
• Automation thanks to new editorial system • News platforms (desktop, mobile and apps) will go online in Q4, boasting state-of-the-art usability based on user feedback and extensive user tests • New print layout to be introduced by January 2019 The strategy of Tamedia High capacity printing utilisation due to third-party orders
Printing facility Zurich
Printing facility Bern
Printing facility Lausanne The strategy of Tamedia Paid dailies are losing circulation …
-48% 231.235 -43% 213.738
-43%
120.716 143.009 122.849 -57% 81.882 93.324 39.924
2008 2018 2008 2018 2008 2018 2008 2018
Trends for paid circulation of selected dailies* from 2007 to 2017 in thousands
Source: WEMF circulation bulletins 2007 and 2017; *including the four largest paid dailies in German-speaking Switzerland which integrated no titles between 2007 and 2017 The strategy of Tamedia Print advertising market: daily press with biggest losses
-12% 2017-6 2018-6 162 -20 142 -7%
117 108 -9 -38%
69 -13% -27 43 -19% -38% 39 34 -10% -24% 20 16 14 9 10 9 13 10
Daily press I Daily press II Regional Sunday press Financial and Consumer press Special press Specialised press weekly press business press
Net revenue for print advertising in CHF millions, compared to the previous year The strategy of Tamedia … but in return, online advertising continues to gain importance
Display advertising Classifieds Jobs Display advertising Search & Find* Classifieds Real Estate Affiliate-Marketing Classifieds Cars +88% 2016 268 +5% 2’136 2017 281 Jährliche 281 Wachstumsrate +28% Search & Find*
2016 605 1’136 1’012 1’581 +161% 848 268 2017 1.581 674 744 521 452 605 300 359 21 22 156 224 86 87 Classifieds Job 107 111 115 45 49 2016 111 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 +4% 2017 115 Online advertising income, 2005 to 2016, in CHF million
Source: Mediafocus Semester Report Online 2016/02 The strategy of Tamedia Encouraging performance of paid news platforms offer
70.286 67.014 66.996 64.033 64.083 60.093 +55% 55.508 56.711 +98% 51.507 53.223 48.670 45.355 45.902 42.862 39.275 39.640 40.317 35.506 37.108
Jan.- Febr.- Mar.- Apr.- Mai- June- July- Aug.- Sept.- Oct.- Nov.- Dec.- Jan.- Febr.- Mar.- Apr.- Mai- June- July- 17 17 17 17 17 17 17 17 17 17 17 17 18 18 18 18 18 18 18 Digital subscriptions Single issues Digital Day passes Weekend Mobile subs. 12 App Digital Light The strategy of Tamedia Digital offers: 39% revenue and 70% EBITDA share Marketplaces and 2017-6 2017-6 2017-6 Ventures Publishing Digital 37% 50% 49% Publishing Print
23.2%26.1% 37.9% 41.0%
7.7% 14.3%
61.3% 13.2% 8.8% 68.0% 8.9% 14.7%
2018-6 2018-6 2018-6 Pro forma revenue share of digital Pro forma EBITDA share of digital Pro forma EBIT share of digital products in per cent products in per cent products in per cent
Employee pension costs pursuant to IAS 19 were allocated per segment, based on the headcount The strategy of Tamedia Classifieds again improved on already excellent results
76 43 83 25 17 0 2 52 InInvestments in 25 tutti.ch and Ricardo 19 1
Revenue EBITDA -1 Revenue EBITDA Revenue EBITDA
Classifieds Marketplaces Services & Ventures EBITDA margin: 62.4 per cent EBITDA margin: -2.2 per cent EBITDA margin: 7.2 per cent The strategy of Tamedia Tamedia is investing in the expansion of its online portfolio
31% 100%
50%* 6% ** 100% 100% 34%* ** 100% 49% 50% 20% 100% ** 100% 75% 15% 90% 20% 93% 96% 31% 45% 25% 20% 24% 50% 75% 88% 100% 100% 100% (CH)
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
* Swiss Joint-Venture ** Minority interests The strategy of Tamedia Tamedia: five of Switzerland's ten leading networks
11′193 9′568 8′361 6′708 6′507 6′010 5′298 4′954 4′760 2′794
Tamedia Tamedia SRG SSR 20 Minuten audienzz – audienzz – Blick am Newsnet audienzz – Newsnet Network - Network Online & PREMIUM NEWS Abend / national NZZ-Netz D-CH Full Reach - News & Tio.ch Alliance Alliance Blick Online Editorial Kombi
Swiss networks by unique clients in thousands, August 2017
Source: NET-Metrix-Audit 2017-08 The strategy of Tamedia Classifieds & Marketplaces strengthen our data quality
Real Estate Jobs Marketplaces General Car Classifieds
* *
Switzerland's strongest classifieds and marketplaces portfolio plays a key part in the data quality of products from Tamedia Advertising
Page 37 * Participations The strategy of Tamedia 38 Entire advertising range from a single service provider
• Digital out-of-home • Mobile • Online • Radio • Television • Magazines • Newspapers The strategy of Tamedia 39 After merger: Investment in the future of advertising products
Goldbach and Tamedia are now in an even better position to identify trends quickly and develop new technologies and advertising forms fast and efficiently
The complementary inventory of Goldbach and Tamedia offers attractive brands in TV, print, online and radio and therefore it is ideal to provide clients with cross-media products from one source in the future
Jointly expand the competitive position, create cross-media advertising products, develop an advertising platform with attractive brands in TV, print, online and radio and expand the out- of-home segment The strategy of Tamedia Faster and faster in development and data processing
Initiatives in news We combine the wide reach of our digital news Collecting user Data journalism TaDaM – platforms, sections, small feedback at Columbia Tamedia Data ads on all news University in New Mining and marketplaces platforms York platform with … Initiatives in advertising Specific target Advertising data Programmatic groups thanks can be used on advertising: fully to the data all platforms bookable pool inventory … high-quality data on addresses, residence Initiatives to increase our own developer potential locations, interests and socio-demographic New Recruitment Know-how information developers' of digital exchange with office in talents at all partners Belgrade levels
Page 40 The strategy of Tamedia Goal for 2022: we intend to continue growing
1 Continue to stay strong in publishing
2 Expand digital
3 Tap new business areas The strategy of Tamedia Investments in Switzerland will be prioritised
Business model
New No focus
Existing Focus
Market Switzerland Denmark New market Luxembourg Austria The strategy of Tamedia Increase of performance thanks to new business areas
Classifieds & Paid Media Editorial Services Commuter Media Advertising Ventures Marketplaces
Consolidation of Consolidation of Sales services for Number 1 Moving images Existing potential newspapers printing partners in Switzerland
Consolidation of Internationali- Vertical Third party user Out-of-Home FinTech magazines sation marketplaces market Services Data Individual Management Logistics opportunities
Consolidation Increase Thank you for your attention.
Tamedia Corporate Presentation October 2018