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Sky Deutschland AG
Q1 2013 Results
3 May 2013
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Significant expansion of customer base
Net adds
Total subscribers
(in ‘000)
Gross Additions
(in ‘000)
Churn
12 month rolling churn rate
Quarterly annualized churn rate
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2

Outstanding HD and Sky+ growth
HD Welt subscribers at
end of period (in ‘000)
Premium HD subscribers
at end of period (in '000)
Premium HD penetration
rate
HD subscribers
Sky+ subscribers
at end of period (in '000)
Sky+ penetration rate
Sky+ subscribers
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3

Strong demand for Sky Go and Sky Zweitkarte
* Service started in April 2011
Sky Go Customer Sessions*
(in m)
Second Smartcard Subscribers
Second smartcard subscribers
at end of period (in '000)
Second smartcard penetration
rate
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4

Customers are responding –
More than 12 million unique viewers in Q1 2013 5
Men in Black 3 © 2012 Columbia Pictures Industries, Inc
. and Hemisphere - Culver Picture Partners I, LLC.
All Rights Reserved.

Revenues, ARPU and costs
Revenues
(in €m)
ARPU
(in €, monthly)
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Costs
(in €m, excluding depreciation)
6

EBITDA
EBITDA
(in €m)
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7

Cash Flow Q1 2013
• €17.6m cash from operating activities
• €52.4m cash used for investing activities
• €228.6m cash from financing activities
• Net debt €251.7m
Tierisch abgefahren © National Geographic Channel
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8

Entertainment choice
expanded
• All games, all goals, all HD
• Formula 1 rights secured –
live, in HD and on Sky Go
• Multi-year agreement with NBCUniversal
• “Harald Schmidt” remains exclusively on Sky
The Amazing Spiderman © 2012 Sony Pictures Home Entertainment
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9

Strengthening innovation leadership
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10

Sky Sport News HD App to be launched
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11

Key distribution and marketing partnerships
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Strong start to 2013
• Significant expansion of customer base
• EBITDA positive – strong growth
• Broadened distribution
• Entertainment choice expanded
• Record viewership levels
• Innovation leadership extended
• New financing structure concluded
Formel 1, Großer Preis von Australien auf Sky Sport 2 HD
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Appendix
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Subscribers and key metrics – quarterly
'000
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Q1 13 Q4 12 Q3 12 Q2 12 Q1 12
Direct subscribers at beginning 3,363 3,212 3,132 3,085 3,012
Gross additions 137 260 188 124 155
Churn -95 -109 -108 -77 -82
Net growth 42 151 80 47 73
Direct subscribers at end 3,405 3,363 3,212 3,132 3,085
Premium HD subscribers at end of period 1,613 1,514 1,337 1,172 1,071
Premium HD penetration rate (in %) 47.4 45.0 41.6 37.4 34.7
Sky+ subscribers at end of period 1,065 929 730 584 508
Sky+ penetration rate (in %) 31.3 27.6 22.7 18.6 16.5
Second smartcard subscribers 375 346 293 248 216
Second smartcard penetration rate (in %) 11.0 10.3 9.1 7.9 7.0
Subscription ARPU (in €, monthly) 33.15 32.77 32.22 32.16 31.76
Churn rate (in %, quarterly annualized) 11.3 13.3 13.7 9.9 10.8
Churn rate (in %, 12 month rolling) 12.0 11.8 11.8 11.5 11.3
Due to rounding differences of individual items, sums may not always add up.
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Subscribers and key metrics – year-on-year DRAFT
'000
Q1 2013 Q1 2012
Due to rounding differences of individual items, sums may not always add up.
Change
(absolute)
Change
(in %) 2012 2011
Change
(absolute)
Direct subscribers at beginning 3,363 3,012 351 11.6 3,012 2,653 359 13.5
Gross additions 137 155 -18 -11.5 728 671 57 8.4
Churn -95 -82 -13 -15.7 -377 -312 -65 -20.9
Net growth 42 73 -31 -42.1 351 359 -8 -2.4
Direct subscribers at end 3,405 3,085 320 10.4 3,363 3,012 351 11.6
Premium HD subscribers at end of period 1,613 1,071 542 50.6 1,514 974 540 55.5
Premium HD penetration rate (in %) 47.4 34.7 12.7 - 45.0 32.3 12.7 -
Sky+ subscribers at end of period 1,065 508 557 >100 929 411 518 >100
Sky+ penetration rate (in %) 31.3 16.5 14.8 - 10.3 5.8 14.0 -
Second smartcard subscribers 375 216 159 73.6 346 175 172 98.3
Second smartcard penetration rate (in %) 11.0 7.0 4.0 - 10.3 5.8 4.5 -
Subscription ARPU (in €, monthly) 33.15 31.76 1.39 4.4 31.90 30.46 1.44 4.7
Churn rate (in %, quarterly annualized) 11.3 10.8 0.5 - 11.8 11.0 0.8 -
Churn rate (in %, 12 month rolling) 12.0 11.3 0.7 - 11.8 11.0 0.8 -
Change
(in %)
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Revenues and costs
in €m
Q1 2013 Q1 2012
Change
(absolute)
Change
(in %) 2012 2011
Change
(absolut)
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Change
(in %)
Revenues
Subscription 336.5 290.4 46.1 15.9 1,220.2 1,035.2 184.9 17.9
Hardware 8.9 10.8 -1.9 -17.7 42.9 34.1 8.8 25.7
Wholesale 3.1 3.4 -0.3 -9.2 13.3 13.9 -0.6 -4.5
Advertising 8.8 6.3 2.5 40.3 29.7 24.2 5.4 22.4
Other 6.8 7.5 -0.7 -9.8 27.1 31.2 -4.0 -13.0
Total 364.0 318.4 45.6 14.3 1,333.2 1,138.7 194.5 17.1
Costs (including depreciation)
Program 213.0 220.7 -7.8 -3.5 795.6 737.9 57.7 7.8
Technology 43.5 38.9 4.6 11.9 169.4 168.6 0.8 0.5
Hardware 21.1 15.1 6.0 40.1 68.7 62.0 6.6 10.7
Customer service and other cost of sales 21.8 20.9 0.9 4.3 86.1 74.7 11.4 15.3
Selling expenses 50.8 54.1 -3.3 -6.0 230.3 216.6 13.7 6.3
General and administrative expenses 31.0 27.5 3.5 12.9 114.1 96.7 17.4 18.0
Other operating expenses/income -2.8 -2.4 -0.4 0.7 -7.5 -6.1 -1.4 -22.7
Total 378.4 374.7 3.7 1.0 1,456.6 1,350.3 106.2 7.9
Depreciation included 20.1 15.7 4.4 28.3 72.3 56.1 16.2 28.8
Costs (excluding depreciation) 358.2 359.0 -0.7 -0.2 1,384.3 1,294.2 90.1 7.0
EBITDA 5.8 -40.6 46.4 >100 -51.1 -155.5 104.4 67.1
Due to rounding differences of individual items, sums may not always add up.
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Results
in €m
Q1 2013 Q1 2012
Change
(absolut)
Change
(in %) 2012 2011
Change
(absolut)
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Change
(in %)
Revenues 364.0 318.4 45.6 14.3 1,333.2 1,138.7 194.5 17.1
Operating expenses 358.2 359.0 -0.7 -0.2 1,384.3 1,294.2 90.1 7.0
EBITDA 5.8 -40.6 46.4 >100 -51.1 -155.5 104.4 67.1
Depreciation and amortisation 20.1 15.7 4.4 28.3 72.3 56.1 16.2 28.8
Amortisation of subscriber base 0.3 0.3 0.0 15.6 1.4 8.3 -6.9 -83.2
EBIT -14.7 -56.6 41.9 74.1 -124.8 -219.9 95.1 43.3
Financial result -21.8 -16.2 -5.6 -34.7 -65.4 -53.1 -12.3 -23.1
Result before taxes -36.4 -72.8 36.3 49.9 -190.1 -273.0 82.9 30.4
Income taxes -1.1 -0.3 -0.9 >-100 -5.1 -4.6 -0.5 -10.6
Net income -37.6 -73.0 35.5 48.6 -195.2 -277.6 82.4 29.7
Due to rounding differences of individual items, sums may not always add up.
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Cash flow and net debt
Due to rounding differences of individual items, sums may not always add up.
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in €m Q1 2013 Q1 2012 2012 2011
Cash flow from operating activities
Cash flow from investing activities
Cash flow from financing activities
Cash flow
17.6 -22.0
-52.4 -30.5
228.6 50.1
-30.6 -77.0
-136.4 -110.2
116.5 236.9
193.8 -2.5 -50.5 49.8
in €m Q1 2013 Q1 2012 31.12.2012 31.12.2011
Cash and cash equivalents
Net debt
198.1 52.3 4.3 54.8
-251.7 -452.0 -611.0 -525.2
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Disclaimer
This presentation contains forward-looking statements based on the currently held beliefs and assumptions of the management of Sky Deutschland AG, which are
expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause
the actual results, financial condition, performance, or achievements of Sky Deutschland AG, or media industry results, to differ materially from the results, financial
condition, performance or achievements expressed or implied by such forward-looking statements. Given these risks, uncertainties and other factors, recipients of this
document are cautioned not to place undue reliance on these forward-looking statements. Sky Deutschland AG disclaims any obligation to update these forward-looking
statements to reflect future events or developments.
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Whilst all reasonable care has been taken to ensure that the information and facts stated herein are accurate and that the opinions and expectations contained herein are
fair and reasonable, no representation or warranty, expressed or implied, is made by Sky Deutschland AG with respect to the fairness, completeness, correctness,
reasonableness or accuracy of any information and opinions contained herein. It is pointed out that the existing presentation may be incomplete or condensed, and it may
not contain all material information concerning Sky Deutschland AG or the Sky Deutschland group.
Sky Deutschland AG reserves the right to change and complete the information in this presentation without notice.
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