NCG - NUCOM GROUP Claas van Delden - PILLAR 3: COMMERCE - ProSiebenSat.1 Media SE
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Capital Markets Day – December 6, 2017 PILLAR 3: COMMERCE NCG – NUCOM GROUP Claas van Delden
OUR JOURNEY
FROM MEDIA INVESTMENTS TO OMNICHANNEL GROWTH PLATFORM
GROWTH PLATFORM
M&A SCALE Drive consolidation in
GSA2) region
MAJORITY
Invest with bigger Seize European
INVESTMENTS ticket sizes in GSA2) opportunity based on
VALUE
M4R/M4E1) Test business model region growth platform
media fit Form local market Accelerate M&A
Utilize idle TV Extract market leader in Germany activity to capture
inventory insights through cornerstone window of opportu-
assets nity for European
Benefit from TV Establish first
Setup operational consolidation in
media & marketing additional revenue
excellence & data selective verticals
power in GSA2) region sources (commercial
cooperations) capabilities
Selected
examples
2012 2013/2014 2015/2016 2016/2017+
1) M4R = Media for Revenue; M4E = Media for Equity 2) GSA = Germany, Switzerland & Austria 239WE BUILT A PORTFOLIO OF 10 MARKET LEADERS IN GSA1) …
HOME SERVICES & LEISURE & HEALTH &
STYLE
MOBILITY RELATIONSHIPS BEAUTY
#2 #1 #2 3) #1 5)
#1 #1
#2 4) #1 5)
#1 2) #2
# = market position
1) GSA = Germany, Switzerland & Austria 2) #1 in lead generation market for investment goods around the house; strategic minority investment
240
3) Based on eCommerce revenues in Germany 4) In respective mass market segments 5) #1 in lead generation market for respective segments… BASED ON CLEAR INVESTMENT PRINCIPLES …
Proven asset- High
Significant
light business B2C focused defensibility Strong
market size,
model with businesses against management
profit pool
strong within our FANGA1) and & operational
and growth
marketing target group low tech quality
potential
leverage disruption risk
1) FANGA = Facebook, Amazon, Netflix, Google, Apple 241… WITH DIVERSIFIED AND DE-RISKED REVENUE STREAMS
BUSINESS MODELS ADJACENT REVENUE STREAMS
SUBSCRIPTION AD SALES COMMERCIAL
COOPERATIONS
DATA SALES3)
Ad
CPO/CPL1) Online ad integration
Monetizing
socio-
sales with 3rd
demographic
(display, party
CPC2) native ads commerce
as well as
intent &
and video) partners to
interest data
on content drive
to
ECOMMERCE related growth and
advertisers
commerce generate
for better
sites incremental
targeting4)
CONSUMER PRODUCTS income
1) Cost per Order/Cost per Lead 2) Cost per Click 3) Currently in development 4) Anonymized and compliant with data protection law 242WE HAVE A UNIQUE VALUE PLAYBOOK IN THE INDUSTRY
Media & Data Commercial Omnichannel Operational
brand power contribution cooperations potential excellence
243Our portfolio
companies benefit
MEDIA & BRAND POWER
from our media &
marketing expertise
BUDGET SOURCE
>12bn TV contacts in 2016
PLAN & … being one of SevenOne Media’s biggest ad clients
OPTIMIZE
EXECUTE
244We leverage a large
proprietary data pool
DATA CONTRIBUTION
together with the
P7S1 Group1)
DATA MGMT
PLATFORM
PERSONA-
LIZATION
>60m P7S1 unique user profiles2)
… our large data pool & new log-in alliance provide strong
LOG-IN competitive advantage – even more after launch of
RETARGETING
ALLIANCE GDPR3) & ePrivacy regulation
1) Currently in development 2) Based on unique cookies active per month in ADEX for Website & Mobile, excl. HbbTV 3) General Data Protection Regulation
245
Note: Launch for both GDPR and ePrivacy regulation expected in 2018We integrate 3rd party
commerce partners
COMMERCIAL COOPERATIONS
offering different ad
components e.g.,
CO-BRANDED
TV SPOT
CONTENT
MARKETING
>20
Number of integrated TV partners in 2017
… source of incremental revenues and
HOMEPAGE competitive advantage
LISTING
INTEGRATION
246We build a unique and
synergistic omni- OMNICHANNEL POTENTIAL
channel ecosystem
broadening our
>10k
distribution channels
OFFLINE
ONLINE
RETAIL
Number of offline Point of Sales
distributing our products
SOCIAL/ HOME- … >5% uplift versus prior year
DIRECT SALES SHOPPING
247We improve OPERATIONAL EXCELLENCE
operational efficiency
across our portfolio
BI/
ANALYTICS
TECH
>250
Number of functional experts within
PRODUCT our network
SEO
PERFORMANCE … already >25 optimization projects successfully
MARKETING
PRICING executed in 2017
…
248OUR PLATFORM ENABLES OUTSTANDING GROWTH OF
OUR ACQUIRED ASSETS
1.6x 2.0x
Revenue Q3 2017 LTM EBITDA Q3 2017 LTM
vs. LTM at entry vs. LTM at entry
Note: Excl. Käuferportal and Jochen Schweizer; adjusted EBITDA excl. airtime 249MULTIPLE GROWTH OPPORTUNITIES GOING FORWARD
Existing
Extend market
Drive
leadership & benefit from
European expansion
underlying market
via M&A
Markets growth in GSA1)
Extend product, service
& distribution offerings
New
New Products & Services Existing
1) GSA = Germany, Switzerland & Austria 250VERIVOX WITH A STRONG CONSUMER PROPOSITION
VERIVOX CASE STUDY
“YOUR TARIFF EXPERTS. AWARD-WINNING TRUSTED EUROS SAVED BY
COMPARE WITH US & SAVE.” CONSUMER BRAND CONSUMERS
USING VERIVOX1)
64x HONORED
SINCE 2008
>2.0bn
EXPERIENCED RELIABLE TRANSPARENT
1) Estimated savings vs. assumed previous contract expenses 251SIGNIFICANT OPPORTUNITY IN LOCAL OPC MARKET
VERIVOX CASE STUDY
German Online Price Comparison (OPC) market
[2016 and 2021E by segment]
Market in 2021E:
EUR ~1.0bn
Active1) since: >16 yrs >10 yrs >3 yrs >2 yrs
Other Market in 2016:
EUR ~0.6bn
Energy TelCo Insurance Banking
1) EUR >1m revenues
252
Source: Bundesnetzagentur; Deutsche Bundesbank; market intelligenceUK CONFIRMING VERIVOX’ SIGNIFICANT GROWTH POTENTIAL
VERIVOX CASE STUDY
MARKET COMPARISON ENERGY:
OPC REVENUES PER HOUSEHOLD
UK VS. GERMANY
[in EUR, 2015]
# of market
x 2.3 players with
# of market 34 EUR >80m
Year of
players with revenues: 41)
deregulation 1999 20052)
EUR >80m
revenues: 2
Switcher in % of
all households ~17% ~11%
15
Average spent
EUR ~4 EUR ~14)
on TV media last
5 years (p.a.)3) per household per household
Growth of number
of switchers in +~20% +~25%
past 5 years
TRAFFIC AND FREQUENCY OF USAGE ARE KEY DRIVERS FOR FUTURE GROWTH
1) Player 5: uswitch. 2) Energiewirtschaftsgesetz – EnWG, 2005 3) Estimate 4) Increasing to EUR 1.5-2.0 in past two years
253
Source: P7S1 market model; Destatis; OC&C; Roland Berger; Greenhill; market intelligenceADD-ON ACQUISITIONS HELP VERIVOX TO CREATE
A UNIQUE PLACE TO MANAGE FINANCIAL NEEDS
VERIVOX CASE STUDY
GERMANY’S LEADING #2 CROSS-VERTICAL LEADING INDEPENDENT
ONLINE CANCELLATION ONLINE COMPARISON MULTI-BANKING APP
SERVICE PORTAL
Add-on Add-on
acquisition acquisition
>5m cancellations p.a.
“Increase traffic” “Drive monetization” “Drive frequency”
254OPPORTUNITY TO BUILD FIRST PAN-EUROPEAN OPC
VERIVOX CASE STUDY
OPC PENETRATION BY COUNTRY1)
[in %]
52
41
Several M&A
33
targets to
26 25 24 become available
in upcoming 24
months
1) Share of purchases using OPC websites
255
Source: Google consumer barometer survey of internet users 2014/15: >1,500 people surveyed about their last purchase of car insuranceAND WE KNOW HOW TO SCALE OPC BUSINESSES
VERIVOX CASE STUDY
BRAND AWARENESS CONVERSION RATE1) DIVERSIFICATION
[indexed, 2014 = 100%]
ENERGY: Entered SME and
+63% industrial segment
+37%
TELCO: Acquired Preis24 to
strengthen TelCo vertical
INSURANCE: Built own P&C2)
calculators for products beyond
cars
INTERNATIONAL: Launched
Verivox Switzerland
Dec 2014 Mar 2017 2014 2015 2016 2017E
VERIVOX FIRST OPC SUPPLIER OFFERING TARIFF COMPARISON
VIA VOICE WITH AMAZON’S ALEXA
1) Exemplary in Energy vertical, extrapolated for 2017 based on YTD growth 2) Property & Casualty 256WE HAVE A LONG M&A TARGET LIST AND
CONTINUE WITH OUR BOLT-ON M&A STRATEGY …
Current identified M&A targets
HOME SERVICES LEISURE & HEALTH &
STYLE
& MOBILITY RELATIONSHIPS BEAUTY
Potential
GSA1) From
targets
1-2 deals to
25+ 10+ 10+ 5+ 4+ p.a.
enabled by a
Potential
European partner
targets
CURRENTLY, EUROPEAN MARKET LEADERS ARE BEING BUILT
1) GSA = Germany, Switzerland & Austria 257… TO DELIVER ON OUR AMBITION
Become the #1
omnichannel platform
for consumer services
& lifestyle brands
in Europe
258THREE THINGS TO REMEMBER
PARTNER WILL
UNIQUE
PORTFOLIO ALLOW US TO
VALUE
OF 10 MARKET ACCELERATE OUR
PLAYBOOK IN THE
LEADERS IN GSA1) GROWTH PATH IN
INDUSTRY
EUROPE
#1 & #2 1.6x EBITDA & LONG M&A LIST OF
MARKET 2.0x REVENUE 50+ TARGETS
POSITIONS VS. ENTRY2) IDENTIFIED
259
1) GSA = Germany, Switzerland & Austria 2) Q3 2017 LTM vs. LTM at entry; excl. Käuferportal and Jochen Schweizer; EBITDA excl. airtimeDISCLAIMER
This presentation contains "forward-looking statements" regarding ProSiebenSat.1 Media SE
("ProSiebenSat.1") or ProSiebenSat.1 Group, including opinions, estimates and projections regarding
ProSiebenSat.1's or ProSiebenSat.1 Group's financial position, business strategy, plans and objectives
of management and future operations. Such forward-looking statements involve known and unknown
risks, uncertainties and other important factors that could cause the actual results, performance or
achievements of ProSiebenSat.1 or ProSiebenSat.1 Group to be materially different from future results,
performance or achievements expressed or implied by such forward-looking statements. These
forward-looking statements speak only as of the date of this presentation and are based on numerous
assumptions which may or may not prove to be correct.
No representation or warranty, expressed or implied, is made by ProSiebenSat.1 with respect to the
fairness, completeness, correctness, reasonableness or accuracy of any information and opinions
contained herein. The information in this presentation is subject to change without notice, it may be
incomplete or condensed, and it may not contain all material information concerning ProSiebenSat.1 or
ProSiebenSat.1 Group. ProSiebenSat.1 undertakes no obligation to publicly update or revise any
forward-looking statements or other information stated herein, whether as a result of new information,
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