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Wednesday 06 November, 2013

Nrj Group

NRJ GROUP - Financial Information Q3 2013

PR Newswire/Les Echos/

5 November 2013

                       2013 third-quarter financials

     Third quarter of 2013: Group consolidated revenues(1) of 85 million 
                                 euros(+2.7%)

  First nine months of 2013: Group consolidated revenues(1) of 296.3 million 
                                euros (+9.5%)

                                   3rd quarter           9 months to date
In million euros                2013   2012   Change    2013    2012    Change
                  
Music Media and Events          43.8   43.2    +1.4%   143.1   142.0     +0.8%
Television                      17.2   16.9    +1.8%    59.1    59.0     +0.2%
International Business           8.8   10.1   -12.9%    29.9    30.8     -2.9%
Show s and Other Productions     1.2    0.3  +300.0%    23.5     2.4   +879.2%
Broadcasting                    14.0   12.3   +13.8%    40.7    36.3    +12.1%
Revenues excluding dissimilar  
barters                         85.0   82.8    +2.7%   296.3   270.5     +9.5%
Dissimilar barters               0.7    0.5   +40.0%     3.2     2.4    +33.3%
Revenues including dissimilar 
barters                         85.7   83.3    +2.9%   299.5   272.9     +9.7%

Consolidated revenues (excluding dissimilar barters)

During the third quarter of 2013, reflecting a slight improvement in the trend
for advertising revenues in France (MME + TV), the Group's consolidated 
revenues came to 85.0 million euros, up 2.7% compared with the third quarter of
2012.

Over the first nine months of 2013, consolidated revenues totalled 296.3 
million euros, versus 270.5 million euros for the same period in 2012, an 
increase of 9.5% (+9.5% on a comparable basis and at constant exchange rates).

Comment on the conditions for the formation of 2013 third-quarter earnings

During the third quarter of 2013, the total Group's current EBIT(2)  shows an
increase compared with the third quarter of 2012, despite the investments made
in the CHERIE 25 channel.

(1) Revenues excluding dissimilar barters
(2) Current EBIT excluding dissimilar barters

Breakdown of revenues by business

During the third quarter of 2013, the Music Media and Events division generated
43.8 million euros in revenues, compared with 43.2 million euros for the third
quarter of 2012, up +1.4%. On a comparable basis, i.e. excluding MFM, the
division recorded revenue growth of +4.3% for the third quarter. Over the first
nine months of 2013, revenues climbed to 143.1 million euros, up +0.8% and 
+3.5% on a comparable basis, despite a difficult market environment.

In terms of Radio audience figures, the Group achieved its strongest growth to
date over the whole of the 2012-2013 season, thanks to NRJ reestablishing 
itself as France's leading radio station in the latest audience surveys by
Médiamétrie(3), and more generally thanks to the outstanding performances by
the Group's four radio stations, progressing on all the audience indicators
year-on-year(4).
As far as listening to the radio on new devices - online and in mobility - NRJ
is still leader. According to the OJD audience measurements, in September 2013,
NRJ is the first radio Brand in France on Mobile with more than 716,000
visitors(5). Furthermore, according to the audience measurements for the most
popular digital radio stations, the Group had nearly 40.5 million active
listening sessions online in September 2013, including more than 28.5 million
active listening sessions for NRJ, which is the most widely listened to web
radio brand in France(6).

The Television business generated 17.2 million euros in revenues during the
third quarter of 2013, compared with 16.9 million euros for the third quarter 
of 2012, up +1.8% (-4.4% on a comparable basis, i.e. excluding CHERIE 25),
revealing an improvement in trends compared with the first half of the year.
Over the first nine months of 2013, revenues totalled 59.1 million euros, 
versus 59.0 million euros for the first nine months of 2012, giving a slight 
increase of +0.2% (-5.9% on a comparable basis), in a particularly difficult 
television advertising market.

In terms of audience levels, during the first three quarters of 2013(7), thanks
to a strategy to develop strong brands, NRJ 12 has maintained its strong
position with 25 to 49 year olds, with an audience share of 2.9%, while making
significant progress on the other priority commercial targets year-on-year(8).
Across all audiences, NRJ 12 is ranked as the fourth most widely watched DTTV
channel, with an audience share of 2.3%(9), attracting an average of 9.2 
million viewers each day[3]. The arrival of new innovative primetime shows, 
including the first French dynasty show ALLO NABILLA, should pave the way for 
this dynamic development to continue during the fourth quarter of 2013.

Revenues for the International Business division totalled 8.8 million euros for
the third quarter of 2013, compared with 10.1 million euros for the third
quarter of 2012, down -12.9% (-12% on a comparable basis and at constant
exchange rates), notably factoring in an unfavourable base effect in Germany,
particularly during the summer. The contraction in revenues during the third
quarter has not affected Germany's profitability or the division's continued
growth in current EBIT over the quarter.
For the first nine months of 2013, revenues came to 29.9 million euros, 
compared with 30.8 million euros for the first nine months of 2012, down -2.9% 
(-2.6% on a comparable basis and at constant exchange rates).

The Shows and Other Productions division recorded 1.2 million euros in revenues
during the third quarter of 2013, compared with 0.3 million euros for the third
quarter of 2012, reflecting the positive development of the music label 
business with NRJ Music. Revenues from the musical "1789 Les Amants de la
Bastille" are not significant for the third quarter of 2013 due to the summer
break. At the end of the first nine months, revenues represented 23.5 million 
euros in 2013, compared with 2.4 million euros in 2012, buoyed by the success 
of "1789 Les Amants de la Bastille" and the music label's growth.

The Broadcasting division has continued to develop, particularly on the digital
terrestrial television market, with the deployment of six new HD channels. Its
contribution to consolidated revenues represented 14.0 million euros for the
third quarter of 2013, up +13.8% compared with the 12.3 million euros recorded
during the third quarter of 2012. Over the first nine months of the year,
revenues totalled 40.7 million euros in 2013, compared with 36.3 million euros
in 2012, up 12.1%.

Source: Médiamétrie, 126,000 Radio, 13 years and over, Monday to Friday,
5am-midnight
(3) April-June 2013, aggregate audience
(4) April-June 2013 vs. April-June 2012, aggregate audience, quarter of an hour
average, audience share, listening duration
(5) Source: OJD ranking of mobile apps, September 2013, ratings calculated 
based on the radio brands measured
(6) Source: OJD ranking of the most widely listened to digital radio stations,
September 2013, ratings calculated based on the radio stations measured, active
listening sessions: total number of listening sessions for a web radio during a
month, with any session open for 30 seconds or more on a given web radio
considered to represent an active listening session

Source: Médiamétrie, Médiamat
(7) Audience share, January-September 2013
(8) Changes for January-September 2013 vs. January-September 2012
(9) Extrapolated aggregate rate, January-September 2013

Recent developments

In October 2013 market environment was still difficult and, to date, visibility
remains low.

Summary of key disclosures during the third quarter

Publication of 2013 first-half revenues (press release on 25 July 2013).
Publication of 2013 first-half earnings (press release on 29 August 2013 and
publication of financial report on 30 August 2013).

                                     ***
About NRJ GROUP

NRJ GROUP is one of the leading private media groups in France and an
international player present in 22 other countries, either directly or under
brand licensing agreements with NRJ/ENERGY, the number one international radio
brand, and/or NOSTALGIE/NOSTALGIA. In France, the Group is the private radio
market leader and one of the new players on the television market. The Group is
also a growing player on the radio broadcasting market, through its subsidiary
towerCast, number two on the French broadcasting market. NRJ GROUP is a
publisher, producer and broadcaster, and markets its own media spaces. For
several years, it has been supported by the strength of its radio media and its
NRJ, NOSTALGIE, CHERIE FM and RIRE & CHANSONS brands, as well as its marketing
expertise and commercial power for deploying new media, particularly on
television, and related activities around partnerships, such as Mobile
Telephony, in order to follow and anticipate consumer developments, while
offering a wider range of advertising services for its customers.

NRJ GROUP shares are listed on the Euronext market in Paris (Compartment B). 
Codes - ISIN: FR000121691; Reuters: SONO.PA; Bloomberg: NRG FP.

  The Group will be releasing its 2013 full-year revenues on 5 February 2014
 (press release published after close of trading on the Paris Stock Exchange)

                       Analyst and Investor Information
 NRJ GROUP - Financial Communications, 46-50 avenue Théophile Gautier, 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 810,815.35 euros - SIREN trade register number 332 036 128 PARIS 
            Registered office: 22 rue Boileau, 75016 Paris, France
                      
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