Ströer Germany - Investor Relations

Transcrição

Ströer: On Track for Growth
Morgan Stanley Field Trip | Cologne | December 9, 2010
Movie Clip: Mobile People
2
Field Trip Investor Presentation I December 9, 2010 I
Agenda
Key Industry Growth Drivers
4
Ströer Group
9
Ströer Germany
15
Ströer International
48
Financial Performance
69
3
Ströer Group
Ströer Germany
CARRIER
ADS
Digitalisation is driving structural change in advertising



CONTENT-BASED IN-HOME MEDIA
LOCATION-BASED OUTDOOR MEDIA
DIGITAL CONTENT ADS
DIGITAL LOCATION ADS
Shrinking small pop up banners
Shorter ad breaks
Paid ad-free content



DIGITAL CONTENT


Channel / Audience fragmentation
Losing mass reach
Tapping new media budgets
Shortening time to market
New creative solutions
LOCATIONS


No digital impact on locations …
but increasing traffic / mobility
OUTDOOR MEDIA = VISIBILITY
OoH ensures mass reach in an increasingly digital media environment
4
Ströer Group
Ströer Germany
The speed of digital transformation is accelerating
% German Population(1)
65
Digital Immigrants
52.76 MM
“The highly urbanised, mobile and online /
digital-oriented target group of 20-29 years old
60
account for approx. 25% of all media
55
spending…We currently face great challenge
Traditional Media Consumers
• Older demographics
• Gradual shift towards digital
consumption
50
finding the right media…TV and print do not
reach them anymore and online isn’t getting
New Media Consumers
• Young demographics
• Rapid consumption driving
digital innovations
45
40
35
Digital Natives
30
2009
2010
2011
2012
2013
2014
2015
2016
2017
increasingly realising that Out-of-Home is the
alternative.”(2)
Christian von den Brincken
Managing Director of MediaCom Agentur für
Mediaberatung GmbH
12.06 MM
2008
substantial reach… Advertisers are
2018
2019 2020
Source: “Media 2020” © Projections by Mediacom Agentur fuer Media beratung GmbH
Digital natives are driving rapid structural change in the media industry
5
Notes
(1) Based on German population aged 14+
(2) This quote was obtained from a third party source, who is independent from the Company. This quote does not necessarily form the basis of or reflect the opinion of the
Company. The Company has neither commissioned nor requested the content contained in this quote nor does the Company accept responsibility for the content, or
accuracy thereof, or liability therefrom
Ströer Group
Ströer Germany
Increasing mobility is constantly driving up the value of OoH
Constantly increasing mobility in Germany over time
Strong correlation between mobility and income
Railway Traffic – average distance per person per annum
Average distance per person per day(1)
Percentage of Households Surveyed(1)
83 Km
9%
CAGR: 3.2%
79 Km
18%
16%
23%
79 Km
40 Km
45 Km
35 Km
73 Km
71 Km
2004
10%
53 Km
77 Km
2003
12%
2005
2006
2007
Source: Traffic in Figures, Federal Ministry for Transport, Building and Urban Development
2008
26 Km
27 Km
< 900
900- 1,500
1,500-2,000 2,000-3,000 3,000-4,000
> 4,000
Household Net Income (€ / per month)
Source: Mobilität in Deutschland 2008, Pg.68, Chart 3.45, Basis: Household
Mobilität in Deutschland Study (2008)
“Never before have Germans been this mobile.”
Federal Minister of Transport, Building and Urban Development
Notes
(1) Based on 88% of responses received
6
Ströer Group
Ströer Germany
Strong OoH growth is expected in Europe’s largest ad market
Germany’s OoH underpenetration
Driving Germany’s OoH penetration to the level of peer markets
2009 OoH Ad Share (%)
OoH penetration in mature markets
12,8%
Developed European
Countries Average (1)
9.3%
10,3%
Mature Stage PostConsolidation




7,8%
Established superior national reach
Established measurement system
Established competitive sales coverage
Established relationships at all levels of
the media buying process
6,2%
4,3%

Early Stage PostConsolidation



Ge
rm
an
y
UK
um
Be
lgi
d
Sw
it z
er
lan
Fr
an
ce
Pre-Consolidation




No national network / campaign offering
No audience measurement system
No critical mass for competitive sales coverage
No contact with media agencies or advertisers
Source: ZenithOptimedia, July2010
Notes
(1) France, Switzerland, Belgium and United-Kingdom revenue-weighted average OoH ad share in 2009
7
Developing national network and campaign offering
Developing audience measurement systems
Building national and regional sales coverage
Building direct relationships with media agencies or advertisers
Ströer Group
Ströer Germany
Strong growth is expected in attractive European emerging markets
2009 ad spend as a % of nominal GDP
2009 ad spend/ capita
1.6%
€250
Consolidation
dividend(1)
Full JV
Control(1)
0.6%
€
€236,1
15.000
€200
12.000
€150
9.000
€100
6.000
€71,9
0.5%
0.3%
0.3%
0.3%
€50
€42,0
3.000
€18,2
€17,7
€8,4
€0
Czech
Republic
Hungary
Poland
Romania
Ukraine
Source: Turkish Advertisers Association, Starlink Mediahouse, ZenithOptimedia, March 2010
Turkey
0
Czech Hungary Poland
Republic
Ad Spend/ Capita
Romania
Source: Turkish Advertisers Association, Starlink Mediahouse, ZenithOptimedia, March 2010
Notes
(1) Factors that could act as a positive catalyst for the Turkish and Polish advertising spend
Ukraine
GDP/ Capita
Clear potential for advertising market growth in Turkey and Poland
8
Turkey
Agenda
4
Ströer Group
9
Ströer Germany
15
48
69
9
Ströer Group
Ströer Germany
Ströer AG: 20 years of organic and acquisitive growth
Takeover of
DERG
Takeover of
Plakat Technic,
Eastplak & OK Plakat
1998
Acquisition
of
1990
1997
2010
2005
2001
Partnership
established in
Turkey
Foundation
Ströer City
Marketing
GmbH
Increase Stake
in Ströer Turkey
Takeover of
of NOP
Takeover of
DSM & Infoscreen
Joint Venture
in Turkey
Takeover of OoH
Group
2000
& Europlakat
Takeover
2002
of IPA
2010
IPO
2004
1999
1990
1991
Out-of-Home
Channel
Mega-Lights
Billboard
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
Ströer’s accelerating growth trajectory
Source: Company Information
10
Analyst Presentation I September 2010 I
2004
2005
2006
2007
2010 2009
2008
Ströer Group
Ströer Germany
# 1 operator in underpenetrated and very attractive growth markets
#1 in GERMANY
Europe’s largest ad. market
9 Month 2010 Financials
• €400 MM Net Sales (+13%)(1)
• €82 MM Op. EBITDA (+25%)(1)
#1 in TURKEY
Europe’s largest emerging market
Ströer Poland 5%
#1 in POLAND
Largest CEE market
blowUp 4%
Ströer Turkey(1) 18%
#1 Giant Poster network in
EUROPE (D, UK, E, Benelux)
Warsaw
Sales
Breakdown
Cologne
Ströer Germany 73%
Core markets
Istanbul
blowUP media
Regional HQ
23% of revenues generated from emerging markets (1)
11
Notes
(1) Ströer 2009* shows full consolidation of Ströer Turkey in 2009 assuming Ströer Turkey’s stake had been increased from 50% to 90% at Jan 1, 2009.
Ströer Group
Ströer Germany
State-of-the-art product portfolio with favorable margin and capex profile
Scroller Billboard
Billboard
Billboard
52%
€503 MM
Revenue 2009
Street
Furniture
25%
Other
9%
Transport
14%
City-Light-Poster/ Street Furniture
12
Notes
(1) 2009 numbers as if full consolidation of Ströer Turkey in 2009 assuming Ströer Turkey’s
stake had been increased from 50% to 90% at Jan 1, 2009.
Trains/ Transport
= margin intensity
= capex intensity
Movie Clip: Interactive City
13
Ströer Group
Ströer Germany
An unrivalled network of public contracts on prime locations
Group view:
> 4,000 Public Contracts
Description:
 A diversified portfolio of contracted locations with municipalities and local transport
authorities
– Top 20 city contracts account for approx. 20% of group revenue
– Only 1 city contract with > 2% of group revenue
 Presence in Germany: 8 out of 10 Tier I cities, 6 out of 10 Tier II cities and 6 out of 10 Tier
III cities
 Presence in Turkey: All Tier I, II and III cities
 Presence in Poland: All Tier I and II cities
Contract period:
 Typically 10-15 years
 >9 years average revenue-weighted maturity of top 25 contracts(1)
Success factors for securing
and renewing contracts
 Superior sales organisation
 Leading market share
 Critical mass for sourcing / cost advantage
Coupled with more than 15k private contracts Ströer holds a unique premium asset base
Notes
(1)
14
For top 25 public contracts in Stroer Group based on 2009 revenues and maturities estimated as of 31 March 2010
Agenda
4
Ströer Group
9
Ströer Germany
15
48
69
15
Ströer Group
Ströer Germany
Ströer Media Deutschland: Senior Management
16
Dirk Wiedenmann
CEO
Jochen Sengpiehl
Chief Sales Officer
Ingo Rieper
CFO
Alexander Stotz
COO
Age:
46 years
41 years
43 years
41 years
Relevant Industry
Experience:
15 years
With Ströer since 2009
15 years
15 years
14 years
where he started his career
Previously held several top
management positions with
Initiative Media
Previously held several top
Previously with KPMG,
marketing positions in the
Cortal Consors Spain and
automotive industry (VW AG, Sat 1
Daimler AG)
Ströer Group
Mega-Light, Hamburg / BB
17
Ströer Germany
Ströer Group
Ströer Germany
Premium City-Light-Poster, Hamburg / Street Furniture
18
Ströer Group
Ströer Germany
City-Light-Poster Hannover / Street Furniture
19
Ströer Group
Ströer Germany
Traditional Billboard, Frankfurt / BB
20
Ströer Group
Ströer Germany
Germany: Europe's largest market
Largest European market in terms of GDP…
…and population in Western Europe
2009 Nominal GDP (€ Bn)
6.3%
2.405
Germany
6.4%
1.922
France
09-12E CAGR
11.6%
5.5%
4.5%
Population (MM)
82
63
1.572
United
Kingdom
1.534
Italy
62
60
1.050
Germany
Spain
France
United
Kingdom
Italy
Source: Global Insight, Statistlisches Bundesamt Deutschland
Source: Global Insight, February 2010
Largest European advertising market
Declining inflation and rising consumption
2009 Total Ad Spend (€ MM)
17.478
12.022
(€ Bn)
8.804
Germany
United
Kingdom
France
Source: ZenithOptimedia, March 2010
21
7.468
Italy
47
5.552
Spain
1.500
1.400
1.300
1.200
1.100
1.000
Spain
1.325
1.356
1.375
1.410
1.415
2005
2006
2007
2008
2009
Private Final Consumption
Source: Euromonitor, Global Insight
Annual Inflation
5%
4%
3%
2%
1%
0%
Ströer Group
Ströer Germany
OoH ad share in Germany has been increasing
Development of OoH market share of gross ad spend in % over time
4,4%
Acquisition of
DSM, Infoscreen, DERG
3,8%
4,1%
3,7%
3,4%
Excluding Internet(1)
3,0%
3,1%
3,1%
3,0%
3,0%
3,0%
3,4%
3,5%
3,3%
3,6%
3,3%
Including Internet
2002
2003
2004
OoH Market Share of Gross Ad Spend
2005
2006
2007
2008
OoH Market Share of Gross Ad Spend excluding Internet
Source: 2010 Nielsen Media Research GmbH
Ströer expects outdoor growth to accelerate from 2010/2011 onwards
Notes
(1) Total gross ad spend as defined by Nielsen Media Research, excluding Internet ad spend
22
2009
Ströer Group
Ströer Germany
Association of Media Agencies Q3 2010: ad markets will recover in 2010
Overall advertising spend is forecast to recover in 2010
Agencies’ revenues are expected to rebound in 2010
Agencies expectations of overall ad spend in 2010
Agencies expectations for revenues in 2010
%
%
100
65
65
24
35
12
Increase
Q1 2010 Q3 2010
Stable
Q1 2010 Q3 2010
Decrease
Increase
Q1 2010 Q3 2010
Stable
Decrease
Source: OMG Herbstmonitor 2010, OMG Frühjahrsmonitor 2010
Source: OMG Herbstmonitor 2010
Agencies expect structural growth for TV, Internet and OoH
Agencies expect higher prices for TV, OoH and Internet
Agencies expectations for growth by advertising media
Agencies expectations for price increase by advertising media
%
Winners
100
100
%
Losers
82
82
76
76
59
53
47
(18)
(59)
TV
Internet
Posters
23
Special Interest
Publications
(41)
Newspapers
Magazines
TV
Posters
Internet
Magazines
Radio
Newspapers
Ströer Group
Ströer Germany
German OoH spend is lagging behind peer European markets
OoH penetration of top 200 advertisers
OoH penetration of top 200 OoH advertisers
14.6%
13.4%
x1.6
9.2%
9.4%
9.4%
x2.9
3.2%
OoH Net Ad Spend
Source: Nielsen Media Research, TNS 2009
Top German advertisers allocate only approx.1/3 the proportion of
ad budgets to OoH as top French and UK advertisers
24
OoH Net Ad Spend Top 200 OoH Advertisers
Source: Nielsen Media Research 2009
Even among top OoH advertisers, German advertisers are still
trailing peers in terms of OoH budget allocations
Ströer Group
Ströer Germany
OoH penetration still at early stages among top advertisers in Germany
80% top 200 German advertisers spend <5% of ad budgets on OoH
Number of Advertisers
94
73
66
29
72
65
33
31
35
20
0% OoH Penetration
Germany
0-5% OoH Penetration
France
5-10% OoH Penetration
20
Above 10% OoH Penetration
UK
Nationwide reach with measurable outcomes will spur OoH adoption
25
62
Ströer Group
Ströer Germany
Top international brands understand the power of OoH
OoH Ad Spend/ Total Ad Spend (%)
46%
4 1%
37%
35%
32%
27%
25%
23%
22%
16 %
13 %
11%
11%
6%
5%
2%
1%
0%
Audi
BMW
Coca-Cola
Danone
11%
9%
9%
8%
3%
18 %
16 %
11%
24%
22%
2%
0%
Fiat
0%
Glax o
8%
6%
Kraftfood
5%
1%
1%
McDonald's
Unilev er
L'Oreal
Renault
Samsung
1%
Seat
Smithklein
Advertiser OoH Ad share in Germany
9%
7%
4%
2%
2%
2%
1%
8%
7%
5%
0%
Skoda
Tw entieth
Warner
Century
Bros
Fox
Advertiser OoH Ad share in France
Advertiser OoH Ad share in the UK
With comparable offerings, German OoH budgets will rise to match allocations in peer markets
26
Ströer Group
Ströer Germany
Success with TOP 200 Spenders 2010: Examples
TRADE
FMCG
AUTO
Newcomer
Newcomer
27
Spend Increase
Ströer Group
Ströer Germany
Ströer Germany is the clear market leader(1) in a consolidated OoH market
Market share based on 2009 net revenues
€ MM
The German OoH market post-consolidation
JCDecaux
393
 JC Decaux’s consolidation of its stake in Wall AG is the last
significant German M&A activity in the OoH industry
+ 2.2x
+ 3.6x
180
 Portfolio consists of CLPs heavily reliant on the 6 top city
contracts, particularly as sole operator in Berlin
110
AWK
70
(2)
Other
 AWK’s portfolio is focused on Tier 4 cities with <100k inhabitants
with only c.23% located in cities >250k inhabitants
 A leading position in hypermarkets
Billboards
Others
Street Furniture
Transport
Substantial market position
Source: Company information/estimates
Source: Company estimates, AWK database
Notes
(1)
(2)
28
Limited presence
 Others comprise approx. 20 small local traditional billboard
operators
– The largest is Schwarz with approx. €20 MM revenues
– Poster Union acts as a sales house for several local OoH
operators
In terms of 2009 net revenue share
Including Moplak and Degesta; AWK owns 33.3% of Moplak and 66.7% of Degesta, which in turn owns 33.3% of Moplak
Ströer Group
Ströer Germany
Ströer Germany has strong market share across all segments
Billboards
Street Furniture
Mega-Lights (ML)
(Premium Segment)
Transport
City-Light-Posters (2sqm CLP)
Railway Stations
Others
6%
JCD
17%
Others
10%
Degesta
14%
Ströer
42%
Ströer
83%
Ströer
90%
42,286
Marketable Faces
13,005
Marketable Faces
6,000
Marketable Faces
JCD
38%
Source: FAW 2009
Source: FAW 2009
Billboards(1) (9sqm)
(Traditional Segment)
Schwarz
5%
Poster Union
8%
Source: Company estimates
Others
9%
Others
13%
JCD
11%
Ströer
53%
14,706
Marketable Faces
AWK
14%
AWK
25%
Source: Company estimates for competitor share, FAW 2009
Poster Union
13%
Source: FAW 2009
Notes
(1) Towns from 100 K inhabitants and from 60g
29
Trains and Buses
Traditional Columns
AWK
7%
Ströer
49%
7,449
Marketable Faces
Others
7%
Schiffman
11%
JCD
14%
Ströer
61%
30,000
Marketable Faces
Ströer Group
Ströer Germany
Top tier cities dominate OoH spend in Germany
2009 Gross OoH spending breakdown by city in Germany
Tier I Cities
#5–#10
16%
1
Tier II
11%
#4 Cologne
6%
Tier III
5%
#3 Munich
7%
Key characteristics
2009 Gross
OoH Spend
€912 MM
Tier IV
27%
2
3

Revenue-weighted maturity of top locations is the most
relevant measure of value for any contract portfolio

The contract portfolio in each city is made up of public and
private ground locations

Each Tier I and Tier II city typically awards between 2–4
city contracts
–
#2 Hamburg
9%
#1 Berlin
19%
Tier I Cities
Tier II cities (#11 - #20)
4
Tier III cities (#21- #30)
Tier IV cities (Other)

Long term tenders frequently with multiple operators in
each city
The top 10 Tier I cities make up a disproportionate 57% share
of total OoH spend
–
Top 4 cities account for approx. 41%
–
The rest of Tier I, II and III cities account for approx. 32%
Source: Nielsen Media Research, Company estimates
Ströer is present across top tier cities, on contractually secure public and private ground
30
Ströer Group
Ströer Germany
Ströer has strong and secured positions in Germany’s Tier 1 cities
City
Gross OoH
Spend(1)
Population(2)
Purchasing
Power(3)
1
Berlin
€170.9 MM
3,432
16,880
2
Hamburg
€86.1 MM
1,772
20,158
3
Munich
€65.2 MM
1,327
25,713
4
Cologne
€51.9 MM
995
20,648
5
Frankfurt
€32.3 MM
665
21,627
6
Düsseldorf
€32.0 MM
584
22,668
7
Stuttgart
€24.4 MM
600
21,219
8
Dortmund
€18.5 MM
584
17,744
9
Essen
€18.1 MM
580
18,994
10
Leipzig
€18.0 MM
515
15,843
Tenders expected by Ströer for
Ströer
Competitors’ new contract starting 2010-12(4)
Ströer DB &
Private Contracts(4) City Contract(4) City Contract(4)
Ströer
Other
Top 10 Tier 1 cities represent 57% (5) of gross OoH ad spend in Germany
31
Notes
(1) Source: Nielsen Spendings 2009
(2) in ’000, Source: GfK GeoMarketing GmbH
(3) per inhabitant in 2010 (in €), Source: GfK GeoMarketing GmbH
(4) Company information, company estimates
(5) Percentage based on €912 MM 2009 gross ad spend per Nielsen
Ströer Group
Ströer Germany
City
Gross OoH
Spend(1)
11
Hannover
€17.2 MM
525
19,879
12
Bremen
€15.4 MM
547
17,797
13
Dresden
€11.3 MM
512
17,349
14
Duisburg
€11.3 MM
494
16,734
15
Nuremberg
€11.2 MM
504
19,723
16
Bochum
€7.4 MM
379
18,493
17
Mannheim
€6.7 MM
311
18,336
18
Wuppertal
€6.2 MM
353
18,882
19
Bonn
€5.8 MM
318
21,079
20
Karlsruhe
€5.7 MM
291
19,962
32
Population(2)
Purchasing
Power(3)
Ströer
Ströer DB &
Ströer
Other
Notes
(4) Company information, company estimate
Ströer Group
Ströer Germany
City
Gross OoH
Spend(1)
21
Aachen
€5.3 MM
259
17,692
22
Chemnitz
€5.1 MM
244
16,731
23
Bielefeld
€5.0 MM
324
18,537
24
Augsburg
€5.0 MM
263
19,006
25
Münster
€4.9 MM
274
20,518
26
Wiesbaden
€4.9 MM
277
21,461
27
Freiburg
€4.8 MM
220
17,725
28
Braunschweig
€4.5 MM
246
19,895
29
Magdeburg
€4.4 MM
230
16,318
30
Gelsenkirchen
€4.3 MM
262
16,154
33
Population(21)
Purchasing
Power(3)
Ströer
Ströer DB &
Ströer
Other
Notes
(4) Company information, company estimate
Ströer Group
Ströer Germany
DB platform: a national rail network of 5,700 stations with >23% reach (1)
The largest rail network in Europe
A large and growing target audience
Passengers German Rail (Bn)
04-08 CAGR 3.9%
Annual Growth
3.3%
4.9%
3.9%
-0.2%
2.24
2.24
2006
2007
2.35
2.16
2.09
2004
2005
2008
Source: Statistisches Bundesamt
Passengers across the top German cities (000s / day)
Passengers in Railway Stations (2)
Passengers at Airports
378
294
294
252
235
210
210
202
151
147
109
95
40
35
Hamburg
Frankfurt
Munich
Berlin
29
Cologne
49
Duesseldorf
16
Hannover
28
Stuttgart
101
11
6
Nuremberg
Dortmund
7
Bremen
Source:Deutsche Bahn AG (Werte abzüglich „sonstige Bahnhofsbesucher“, Media Frankfurt GmbH, Mediadaten 2010 (www.media-frankfurt.de, Airport Media MUC,
2009 (www.airport-media-muc.de), A.M.M Fluggastbefragen Hamburg 2008 (http://www.airport.de/de/u_daten_verkehrszahlen.html), www.advertising.koeln-bonnairport.de; Düsseldorf International Advertising, Mediadaten 2010; Berliner Flughafen-Gesellschaft mbH, http://www.reisenews-online.de/2010/03/26/flughafennuernberg-jahresbilanz-2009//, Dortmund Flughafen, Geschäftszahlen 2008, Stuttgart Flughafen 2009, Bremen City Airport 2008, Hannover Airport Bilanz 2008
Notes
(1) In the top 200 railway stations
(2) Calculated based on a 16% discount rate to visitors in railway stations
34
Ströer Group
Ströer Germany
DB platform: a network that delivers the most attractive target audience
Attractive target audience

Reaching the most attractive demographic groups for advertisers
–
ICE Business Traveller 3% Holiday Traveller 1%
Other Visitors 7%
City Shopper
13%

Professionals
36%
Young Urbans:
–
Use public transport and the internet on a daily basis
–
Up to now, total ad spend targeting Young Urbans are highly geared
towards TV, internet and magazines (in total 84%)
–
Posters only account for c.4% of total ad spend
Night Owls
20%
Young Urbans
20%
Example: Train station ad potential - Young Urbans
Ad allocation
(2009)
Posters 5.8%
Professional journals
1%
Radio 3.9%
Newspapers 5.2%
Magazines
9.4%
Internet
16.0%
TV
58.5%

Young Urbans (20%) and Business Travellers/Professionals (39%)
together make up approx. 60% of daily traffic at train stations
Professionals and business travellers:
“It is our premier goal to further increase the brand recognition
of HRS with the campaign. At the same time, we want to
recharge the HRS brand emotionally and efficiently differentiate
from competitors. Railway stations are the gates to the city.
Here, our campaigns do exactly reach the relevant target groups
like business travellers and tourists. Additional poster
campaigns accompany the customers on their way through the
city to the hotel of their choice.”(1)
Tobias Ragge, Managing Director of HRS
Source: Nielsen Media Research, Mediacom
Note
(1) This quote was obtained from a third party source, who is independent from the Company. This quote does not necessarily form the basis of or reflect the opinion of the
Company. The Company has neither commissioned nor requested the content contained in this quote nor does the Company accept responsibility for the content, or
accuracy thereof, or liability therefrom
35
Ströer Group
Ströer Germany
Ströer has a highly effective sales force
Poster
National
Sales
Transport
Media Agencies
New Business
• Focussed on
developing new
relationships and
gaining additional
accounts
c.160
Advertisers
• Targets a variety of
sectors, both
regional and national
• Manages special
needs of transportbiased customers
• Manages special
requirements in
logistics and
technical support for
transport clients
• Targets direct
advertiser
relationships
Regional
Sales
East
c.260
South
South/West
West
North
c.25
• Dedicated specialist
team based in Munich
• Specialists in moving
picture advertising
units located primarily
in railway stations
and local metros
• Manages advertising
sales, maintenance as
well as rollout and
sourcing of
Infoscreen units
• Strong contribution to
securing demand for
new digital moving
picture products
# of sales personnel
... with critical mass to directly approach national and regional advertisers
36
Infoscreen
Ströer Group
Germany - Case Study
Ströer Germany
: OoH key to a strong brand building
Campaign Advertising Mix
Daily Newspapers 3.0%
Campaign Impact
Advertising effectiveness of KPIs from Q4 2009 until Q2 2010
Index
600
OoH
49.0%
550 533
TV
48.0%
500
300
300
167
100
50
Daily Newspapers 9.0%
OoH
19.0%
(150)
TV
72.0%
Spontaneous Qualified Ad Spontaneous
Ad Awareness
Recall
Brand
Awareness
BASE
Brand
Likeability
O2
Higher OoH share in media mix has led to outperformance in all relevant KPIs
Source: Nielsen Media Research Jan – Jun 2010 excluding internet; RSG Marketing Research
37
Relevant Set
Ströer Group
Ströer Germany
Germany - BrandScience: OoH boosts efficiency in FMCG media campaigns
The Study Concept of BrandScience(1)
Objective:
Research the impact of OoH on advertising
effectiveness in mixed media campaigns
Measurement:
Share in sales attributable to advertising media,
Return-on-Investment (RoI)(2)
Study Confirms OoH Making TV Work Even Harder
Other
2.5%
Average share in sales
attributable to media campaigns
RoI(2) of TV
€1,34
Print
27.2%
Print
27.0%
OoH
5.6%
€1,01
€0,62
OoH
31.0%
TV
42.0%
TV
64.7%
T V+OoH
OoH: Highest sales efficiency
(share of sales is 5x share of spend)
T V+Print
T V (mono)
Combination of TV+OoH delivers highest RoI
(2x higher than TV mono campaign)
Notes
(1) BrandScience is Omnicom Media Group’s research and consultancy arm. The study was initiated by FAW e.V., the German OoH advertisers association
(2) RoI defined as gross sales achieved per Euro gross advertising spend
(3) Average gross media spend by medium in the campaigns subject to the study
38
2x more efficient
Average share in media spend(3)
Ströer Group
Ströer Germany
Germany - Premium BB roll-out: High quality boards @ high-reach locations
Key Features are Compelling
 First back-lit and glass-covered Scroller Billboard in 9qm
format
 Single selection allows geo-targeting around special Point
of Interest
 Introduction at highly sought after locations with excess
demand
Roll-Out Status on Track
 Up to 500 sites bookable in first half of 2011 (permits at
hand)
 Installation started in Tier I cities
 New pricing system with positive feedback from outdoor
specialists
39
Foto
Ströer Group
Ströer Germany
Premium Billboard 5000: executing a proven concept on our existing portfolio
Scroller penetration is low in Germany
Current
Post Premium
Billboard 5000
Clear business case for Premium Billboard 5000
1

Tripling inventories at top locations with excess demand
– Geared to big cities
– Geared to locations with high g-values

At premium sites with peak filing ratio >80%
40.8%
Scrollers
2
–
16.0%
Scrollers
3

Winning new clients
–
4
8.6%
Scrollers
15,000
scroller faces
30,000
scroller faces
Source: Germany: FAW, France: Copmany estimates
51,000
scroller faces


Gaining competitor share while keeping high filing ratio
Retain premium pricing
–
5
Catering to excess demand
Increasing premium (segment) in portfolio mix
Leveraging unique network premium assets
–
Impossible to replicate
A clear winner for Ströer, increasing high-demand inventories heading into the upturn
40
Ströer Group
Ströer Germany
Ströer’s leading position in developing the premium billboard product
An excellent setting for the rollout of a premium product upgrade
Ströer Market Share (1) at Sites >100g
80%
40
1
 Ströer’s market share of ad faces in premium locations
increases by city size
– We are focussed on the largest cities, the prime
target locations for top tier advertisers
70%
60%
30
50%
40%
20
2
 Ströer’s top sites demonstrate excess demand in peak
months with filling ratios higher than 80%
30%
– There is a huge opportunity for growth
20%
10
10%
0
€11
€23
€25
€27
€30
€31
< 50
50 - 100
100 - 250
250 - 450
450 - 900
> 950
Daily List Pricing (€/day)
Market Share (% at sites > 100g)
Source: Company information
Notes
(1) Based on no. of faces in 2008
41
3
0%
‘000 City
Inhabitants
 Ströer’s secure nationwide network of contracted
locations provide a unique platform for a successful
rollout of the premium billboard
Ströer Group
Ströer Germany
Product innovations are additive in terms of growth
Mega-Lights Case Study
Revenue (€ MM)
Revenue per Face (€)
200
8.000
1
 Upon introduction of Mega-Lights, billboards across
locations retained and even increased revenue per face
150
6.000
2
100
4.000
 No evident cannibalisation of own revenues
– “New Money” from incremental spending by
advertisers
50
2.000
3
0
0
1995
1997
1999
2001
Ströer Billboard Revenue
Ströer Billboard Revenue per face
42
2003
2005
2007
Ströer Mega-Light Revenue
2009
 After reaching critical mass, Mega-Lights further
acquired share of media budgets proving its appeal and
relevance to advertisers
Ströer Group
The Outdoor Channel …
Ströer Germany
Ströer Group
Ströer Germany
The first nationwide digital moving picture network globally
A digital OoH innovation with a proven concept
Ströer’s unique market positioning
 An attractive high growth digital OoH proposition with high impact
moving pictures at top locations
 Leverages the full potential of secured long term DB contracts, the only
nationwide digital platform for OoH
 Maximizes inventory at prime locations
 Boosts the proven, measurable effectiveness of station media
 Retaining premium price levels for superior digital quality
 Superior positioning against traditional TV formats
Strong and sustainable “first-mover” advantage for Ströer
44
Ströer Group
Ströer Germany
Outdoor Channel complements the reach of traditional TV channels
Net Reach (1) (%)
75%
68%
67%
56%
53%
The only moving
picture channel
offer Out-of-Home
51%
36%
27%
24%
20%
19%
16%
15%
15%
14%
12%
12%
6%
RTL
PRO 7
SAT 1
VOX
RTL2
Kabel 1
ARD
ZDF
2,177
1,550
1,720
738
607
631
548
208
Source: GfK: TV Control 2010; OOH-Channel: company information
Outdoor Sport 1
(2)
Channel
256
N24
VIVA
N-TV
Tele 5
MTV
Das
Vierte
89
167
74
138
160
92
#
Notes
(1) ForTV Control from GfK: Net reach 2 weeks coverage; Target group 14-49 years old
(2) Company estimates for OoH Channel based on: 200 Stations equiped with 1000 Screens, 120 Seconds-Loop with 6 Spots à 20 Seconds, 14 Days-Booking
45
Dmax
135
Comedy
Central
28
2009 Gross Spend per channel (€ MM)
Ströer Group
Ströer Germany
Infoscreen reaches target groups not reached by TV
Infoscreen
Gender
Age
Household Net Income
Education
55
45
44
34
13
Male
20-29
20
30-39
22
40-49
15
50-59
8
60-69
4
1
70+
Below
€500
8
15
18
20
15
9
15
12
Below €1,000- €1,500- €2,000- €2,500- €3,000- €3,500+ Still
€1,000 1,500 2,000 2,500 3,000 3,500
Scholar
10
Low
4
Male
Female 14-19
10
20-29
Source: Mediacom Infoscreen Study 2009
46
Mid
High
55
55
TV
45
Female 14-19
18
14
30-39
19
40-49
17
50-59
18
60-69
18
70+
18
22
28
19
16
9
7
9
9
8
Below €1,000- €1,500- €2,000- €2,500- €3,000- €3,500+ Still
€1,000 1,500 2,000 2,500 3,000 3,500
Scholar
Low
Mid
High
Ströer Group
Ströer Germany
Germany - Out-of-Home-Channel roll-out: First national digital network
Unique Selling Propositions
 Moving images like TV with high emotions and
short lead times
Display size
60-82 inches
 Reach of German population more than 20 percent
 Time-based pricing depending on hours and target
groups
Roll-Out Status on Track
 Majority of locations already approved
 First installation started in selected stations
 Already sold out in December with top brands:
47
First class screen
in full HD quality
Agenda
4
Ströer Group
9
Ströer Germany
15
Ströer International - Turkey
48
69
48
Ströer Group
Ströer Germany
Ströer Turkey: Senior Management
49
Murat Ilbak
CEO
Selcuk Salman
CFO
Senol Yüksel
COO
Age:
35 years
41 years
43 years
Relevant Experience:
12 years
With Ströer since 2000.
10% shareholder of Ströer
Turkey
17 years
14 years
Previously at General
Electric
Previously with Wall
AG in Turkey
Ströer Group
Mega-Light, Istanbul/ BB
50
Ströer Germany
Ströer Group
Billboard, Istanbul/ BB
51
Ströer Germany
Ströer Group
Ströer Germany
City-Light-Poster, Ankara/ Street Furniture
52
Ströer Group
Infoscreen, Ankara/ Transport
53
Ströer Germany
Ströer Group
Ströer Germany
OutdoorTV – Digital screen, Istanbul/ Digital
54
Ströer Group
Ströer Germany
Ströer Turkey: leadership across top cities and a nationwide footprint
Istanbul
Kocaeli
(12.8 MM)
(4.5 MM)
Zonguldak
Samsun
(1 MM)
Çankiri
Düzce
Bolu
Ordu
Sakarya
Amasya
Çorum
(1 MM)
Bursa
Ankara
Tokat
(2.2 MM)
(4.5
MM)
Bilecik
Kirikkale
Sivas
Ankara
Yozgat
Tekirdağ
Çanakkale Balikesir
(1 MM)
Eskişehir
(1 MM)
Kütahya
Manisa
(1 MM)
Izmir
(3.5 MM)
Sinop
Bartin Kastamonu
Aydin
Isparta
Konya
(1.5 MM)
Muğla
Antalya
(1.3 MM)
Karaman
Fethiye
Tier 1 Region
Mersin
(1.3 MM)
Head Office
Kars
Erzurum
Iğdir
Ağn
Erzincan
Malatya
Bingöl
Muş
Van
Bitlis
Elaziğ
Diyarbakir
Siirt
(1 MM) Batman
K. Maraş
Adiyaman
Adana
(1.8 MM)
Burdur
Osmaniye
Şanliurfa
(1 MM)
Mardin
Şirnak
Hakkari
Gaziantep
(1.5 MM)
Hatay
(1 MM)
Street furniture
Area: 780,580 km2
Tier 2 Region
Tier 1 Branches
Tier 3 Region
Tier 2 Sales Offices
Metro, Bus/Transport Advertising
Population: 72.6MM
Tier 4 Region
Tier 3 Regional Offices
Billboards
GDP/ Capita: €6,113
55
Kayseri
(1 MM)
Aksaray
Denizil
(1 MM)
Gümüşhane
Bayburt
Tunceli
Nevşehir
Ardahan
Artvin
Giresun
Kirşehir
Afyon
Uşak
Rize
Trabzon
Ströer Group
Ströer Germany
Ströer is the clear OoH leader in Turkey
€ MM
Turkish OoH Market Share by Net Revenues (1)
Other
60%
1998
2009
40%
+ 4.5x
58%
20%
40%
33%
16%
11%
13%
13%
9%
0%
Ströer, a clear home-grown
nationwide market leader
 #1 in the top cities of
Istanbul, Ankara, Izmir and
Bursa
JCD/Wall is present across
main regions with CLPs
 Heavy reliance on single city
(Istanbul) for revenues
CCO’s portfolio is
concentrated in 4 cities
 Second tier city locations
with low pricing
Source: Turkish Advertisers Association, Company estimates
Notes
(1) Based on data from Advertisers Association and company estimates for local poster revenues
56
4%
4%
Declining tail of fragmented
small local players
 Spread across smaller, less
attractive markets in Turkey
Ströer Group
Ströer Germany
Ströer Turkey is the market leader across all OoH segments
Billboards
Mega-Lights (ML)
(Premium Segment)
Street Furniture
CLP/ CLS
Media Pano
2%
Others
6%
Karma
10%
Ströer
57%
Medya Pano
1%
Sehir Isiklari
8%
Karma
3%
Others
9%
Ströer
42%
22,736
Marketable Faces
CCO
17%
CCO
12%
3,535
Marketable Faces
Wall
(JCDecaux)
Wall
(JCDecaux) 13%
Total including others (1)
Billboards (BB)
(Traditional
Segment)
Others
5%
Sehir Isiklari
13%
CCO
4%
Wall
(JCDecaux)
9%
Ströer
69%
14,181
Marketable Faces
Medya Pano
1% Others
8%
Sehir Isiklari
9%
Karma
2%
CCO
13%
Ströer
51%
41,717
Marketable Faces
Wall
(JCDecaux)
16%
Notes
(1) Total, including other ad units associated with city contracts, blowUp, Infoscreen, OoH TV and others
57
Ströer Group
Ströer Germany
Turkey - Dynamic country set for further growth also in 2011
Key Growth Drivers
 Dynamic macro environment (GDP growth 2011E of 10.0%)1
 Restrictions on TV air-time: approx. 40% reduction in ad
minutes expected accompanied by significant price increase
 OoH capacity build-up from new tenders
Sales & Marketing Initiatives
 Further promotion of digital business
 Ensure volume growth (shortening of sales cycles, conversion
of static to scrolling)
 Launch first phase of POSTAR (measurement tool)
Notes
(1) Source: Global Insight October 2010
58
Agenda
47
Ströer Group
9
Ströer Germany
15
Ströer International - Poland
59
69
59
Ströer Group
Ströer Germany
Ströer Poland: Senior Management
60
Janusz Malinowski
CEO
Ewa Wiejas-Lipiecka
CFO
Adam Tkaczyk
Vice President Sales
Age:
56 years
45 years
50 years
Relevant Experience:
12 years
Joined Ströer Polska in 1998 as
Managing Director
Previously took various management
positions with McDonald’s, Amoco
and Friesland
11 years
Appointed Vice President in 2002
Experience with Apexton Records/
Lorraine Furniture (accountant) and
Pepsico Poland (controller)
17 years
Joined Ströer Polska in 2002
Previously worked at Europlakat
Polska
Ströer Group
12sqm Billboard, Warsaw/ BB
61
Ströer Germany
Ströer Group
Ströer Germany
Premium City-Light-Poster, Warsaw Metro/ Street Furniture
62
Ströer Group
Ströer Germany
Ströer Poland: a strong nationwide network of state-of-the-art billboards
Gdańsk
(0.5 MM)
Head Office
Olsztyn
(0.2 MM)
Szczecin
(0.4 MM)
Regional Office
Białystok
(0.3 MM)
Bydgoszcz
(0.4 MM)
Ströer presence in districts
Tier 1 Region GDP/cap > €9k
Tier 2 Region GDP/cap €8k-9k
Gorzów
Wlkp.
(0.1 MM)
Poznań
(0.6 MM)
Wrocław
(0.6 MM)
Opole
(0.1 MM)
Warsaw
(1.7 MM)
Street Furniture
Łódź
(0.8 MM)
Katowice
(0.3 MM)
Metro, Bus/Transport Advertising
Lublin
(0.4 MM)
Kielce
(0.2 MM)
Kraków
(0.8 MM)
63
Rzeszów
(0.2 MM)
Billboards
Ströer Group
Ströer Germany
Similar to 2001/03, we expect a strong rebound in pricing after the crisis
The consolidation of the Classical Billboard 12m2 market
The upcoming consolidation - Billboard 6 x 3m
# faces (‘000)
# units
Price (PLN/ per month)
650
60
51.7
Price (PLN/ per month)
1.900
20
51.3
50
46.0
600
15,2
15
40
35.5
34.6
34.7
15,4
12,8
33.5
30.1
30
550
27.7
500
6,1
20
1.700
10,2
10
23.5
7,2
7,4
6,5
7,2
7,8
1.600
5
1.500
450
10
400
0
2000
2001
2002
2003
2004
2005
1.800
2006
2007
2008
2009
1.400
0
2000
2001
Backlight
Source: Company pricing data, Polish Outdoor Chamber of Commerce (IGRZ) market ad units data
2002
2003
2004
2005
2006
2007
2008
2009
Frontlight
Source: Company pricing data, Polish Outdoor Chamber of Commerce (IGRZ) market ad units data
The new 18m2 market will experience similar development to the classical billboard as it matures
64
Ströer Group
Ströer Germany
Ströer is in an ideal position after the acquisition of NOP
2009 combined market share based on net revenues
%
A market with 4 main players
32,8%
30,8%
Increased market attractiveness after acquisition of NOP
 NOP acquisition (closing: 29 October 2010) first M&A activity since 2002
expanding Ströer’s leading position in the Polish OoH market
29,0%
News
11,9%
News
11,2%
24,8%
 Further consolidation is likely for sustainable long term competition
Ströer Poland is the leading premium billboard operator
18,3%
17,2%
14,5%
13,7%
Ströer
20,9%
Ströer
19,7%
 12m2 successfully consolidated
 Market leading in attractive 6x3m and large format segment (36/ 48m2
after acquisition of NOP
AMS is part of the Agora media group
9,2% 9,8%
 Broad OoH portfolio of products across small and large cities
 Leader of backlights and street furniture (CLPs)
2 further notable players in the market
Others
 Cityboard: Operates at high quality locations in big cities, strong market
leader in 6x3m (34% share) and 36/ 48m2 (34% share)
 CCO: Fragmented portfolio of products
Including Agora intercompany revenues
Adjusted to exclude AMS Agora intercompany revenues
65
Source: Company estimates;
market share for specific segments estimates, Polish Outdoor Chamber of Commerce (IGRZ) data
Ströer Group
Ströer Germany
Ströer is the clear market leader in the billboard segment
Billboards
Street Furniture
CCO
1%
Others
8%
AMS
40%
CLP
18m2 (Front-Lit and Back-Lit)
Classical Billboards
CCO
13%
Ströer +
News
51% (+0%)
11,911 Ad
Units
Others
15%
Others
2%
Ströer +
News
38% (+17%)
5,914 Ad
Units
Citiboard
32%
Ströer +
News
61% (+0%)
1,032 Ad
Units
Metro (Infoscreens / 6m2)
Ströer + News
CCO
3%
Source: Polish Outdoor Chamber of Commerce (IGRZ) data, based on number of advertising units at year end 2009
Transport
32% (+31%)
741 Ad Units
Cityboard
26%
66
471 Ad Units
Large Format (32m2/36m2/ 48m2)
Others
25%
AMS
39%
AMS
58%
CCO
25%
AMS
15%
Megalights (Scroller 9m2)
Ströer
2%
Ströer
100%
AMS
14%
525 Ad Units
Ströer Group
Ströer Germany
Poland – Stage set for growth
Growth Drivers
 Dynamic macro environment (GDP growth 2011E of 7.8%)(1)
 Street furniture opportunities in Warsaw
 Consolidation dividend after NOP acquisition
Sales and Marketing Initiatives
 Shorten sales cycles from 4 to 2 weeks while increasing
reach
 Establish national campaigns on leading 6x3 portfolio at
higher list prices per day
 Launch first phase of POSTAR (location measurement
system)
Notes
67
Ströer Group
Ströer Germany
Poland – Integration of News Outdoor Poland on track
Restructuring on track
 Overhead reduction key synergy (office closure,
headcount reduction, services termination)
 Integration of operations underway (sales, IT, assets)
 Rebranding of assets started
Targeted costs and synergies
 Restructuring costs: approx. €1 MM (2010)
 Synergy effects: € 2-3 MM (2011)
68
Agenda
4
Ströer Group
9
Ströer Germany
15
48
69
69
Ströer Group
Ströer Germany
Overview Key Financials: Strong trading in Q3 2010 and 9M 2010
€ MM
Q3 2010
126.9 +14.6%
Revenues
incl. 100% Ströer Turkey(1)
134.1
399.8
+13.4%
+9.6%
+9.9%
+11.4%
+11.8%
Organic Growth(2)
+13.0%
9M 2010
369.1
+12.2%
Operational EBITDA
22.4
23.0
+13.8%
+6.5%
74.8
81.7
+24.9%
+25.2%
Net Adjusted Income(3)
1.4
+1.0
13.2
+11.7
-62.0
-62.4
-58.8
-57.9
301.4
-39.2%
Free Cash Flow(4)
Net Debt(5)
70
Notes
(1) Ströer Shows full consolidation of Ströer Turkey assuming Ströer Turkey‘s stake had been increased from 50% to 90% at 1 Jan 2009.
(2) Organic Growth = excludes foreign exchange effects and effects from (de-) consolidation and discontinuation of businesses
(3) Operational EBIT net of financial result adjusted for exceptional items, amortization of acquired intangible advertising rights and normalised tax expense (31.7% tax rate)
(4) Free Cash Flow = Operating Cash Flow – Investing Cash Flow
(5) Net Debt = Financial Liabilities minus Cash (excl. hedge liabilities)
Ströer Group
Ströer Germany
Ströer Germany
€ MM
Revenues
6.6%
Organic Growth
Operational EBITDA
% Margin
7.4%
20.3%
21.2%
21.1%
6.9%
274.2
5.9%
181.5
92.7
98.4
98.1
108.4
Q3 2009
Q3 2010
9M 2009
CAPEX(1)
23.5%
10,8
19.1%
69.0
293.1
57.9
194.9
9M 2010
6,1
10.4%
18.8
20.8
Q3 2009
Q3 2010
9M 2009
9M 2010
9M 2009
9M 2010
 Revenue growth primarily due to improved trading of Billboard, Street Furniture and Other
 Strong 9M operating leverage supported by flat overhead spending
 Capex reduction resulting from fewer renewal actions and inventory usage
Notes
(1)
Excluding cash paid for investments in non-current financial assets and acquisitions
71
Ströer Group
Ströer Germany
Ströer Turkey (100% view)*
€ MM
Revenues
35.4%
Organic Growth
Operational EBITDA
% Margin
38.5%
24.2%
14.0%
22.7%
49.0%
22.6%
48.3%
70.7
48.4%
98.4
16.0
Q3 2009
-13.7%
23.7
108.4
9M 2009
9M 2010
8,5
6,5
15.9
47.4
Q3 2010
CAPEX
10.7
3.9
3.3
Q3 2009
Q3 2010
9M 2009
9M 2010
9M 2009
9M 2010
 Outstanding headline and organic revenue growth
 Increase in sales mainly driven by higher filling ratios across all major asset classes
 Operating leverage impacted by temporary changes in rent mix and bonus scheme dynamics
* Ströer Turkey consolidated at 50% up to August 2010, thereafter full consolidation applied
72
Ströer Group
Ströer Germany
Ströer Rest of Europe*
€ MM
Revenues
17.5%
Organic Growth
Operational EBITDA
% Margin
9.8%
6.2%
5.5%
6.0%
16.5%
31.0
23.0%
181.5
10.0
98.4
12.3
108.4
Q3 2009
Q3 2010
9M 2009
CAPEX(1)
5.7%
10.6%
36.1
1.9
1,7
2.1
0,9
194.9
9.5%
9M 2010
0.6
0.7
Q3 2009
Q3 2010
9M 2009
9M 2010
9M 2009
9M 2010
 Significant revenue growth generated in Polish and blowUP business
 Q3 organic sales growth of +6% in Poland and even double-digit in giant poster operations
 9M Operational Ebitda margins strongly up in blowUP with Poland yet to improve
* blowUP business and Ströer Poland
Notes
(1)
Excluding cash paid for investments in non-current financial assets and acquisitions
73
Ströer Group
Ströer Germany
Substantial underlying cash generation year-to-date
€ MM
Cash flow from Operations
Cash Flow from Investing
+129%
32.8
14.3
-54%
-11,8
-17,1
26.1
6.6
9M 2009
9M 2009
reported /
normalized
IPO
cash out
9M 2010
reported
9M 2010
normalized
21.6
26.1
-0.9
54.3
74
Acquisition
CAPEX
 Cash flow from operations more than doubled
leaving aside IPO exceptionals
 Cash flow from investing decreased following
less renewal requirements and inventory usage
-58.8
9M 2010
reported
-30,9%
Comments
Free Cash Flow
9M 2009
reported
9M 2010
IPO
cash out
9M 2010
normalized
 Strong FCF generation excluding acquisitions
and IPO costs
Country Highlights 2011
Germany
Turkey
Poland
Growth drivers:
Growth Drivers:
Growth Drivers:
 GDP growth 2011E of 3.8%(1)
 Consolidation dividend
 Digitalization of media business
 GDP growth 2011E of 10.0%(1)
 Dynamic ad market
 Restriction on TV airtime
 GDP growth 2011E 7.8%(1)
 Consolidation dividend
 Emergence of public OoH
concessions
+
Initiatives:
 Increase Top 200 customer
penetration
 Premium Billboards
 Out-of-Home-Channel
+
Initiatives:
 Push for digital products
 Inventory increase from new
tenders
 Exploitation of regional sales
potential
Ströer on track for growth in 2011
Notes
75
+
Initiatives:
 Integration of News Outdoor
Poland
 Sales cycle optimization
 Street furniture opportunities
Outlook 2010
In the traditionally strong 4th quarter,
Ströer is looking to repeat the sales successes
achieved year-to-date despite relatively high prior-year figures.
Overall, management is optimistic going into the 4th quarter and,
based on the assumption that the Turkish joint venture
Ströer Kentvizyon had been fully consolidated since 2009,
anticipates at least 9% organic growth for the whole of 2010.
76
Disclaimer
This presentation contains “forward looking statements” regarding Ströer Out-of-Home Media AG (“Ströer”) or Ströer Group, including opinions, estimates and
projections regarding Ströer ’s or Ströer 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 Ströer or Ströer 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, express or implied, is made by Ströer 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 Ströer or Ströer Group. Ströer undertakes no obligation to publicly
update or revise any forward looking statements or other information stated herein, whether as a result of new information, future events or otherwise.

Ströer Germany - Investor Relations

Transcrição

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