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2012 FINANCIAL REPORTThanks to these successes, M6 reaffirmed its position as the 3 rd ranked national channel among allaudiences, and the 2 nd ranked prime-time national channel.These audience ratings were the reward for investment in the programme line-up, the cost of whichincreased by €13.0 million to €346.9 million, as investment in the broadcast of the European footballchampionship was partly offset by savings in other programmes.The Euro 2012 enabled the channel to report record ratings, as demonstrated by the broadcast of theSweden vs. France match which attracted 12.2 million viewers, the channel’s second best historicaudience.These gains in market share partly absorbed the effects of a contracting advertising market. In 2012, thechannel’s revenues declined by 2.6% and included a 4.3% decrease in advertising revenue. M6outperformed the market due to solid audience ratings.The M6 FTA network (M6 channel, advertising agency and production subsidiaries) thus generated anoperating margin from recurring operations (EBITA/revenue) of 21.5%.5.1.2.3. Digital channelsContribution - Digital channels(€ millions)Businesssegmenttotalrevenue31/12/2012 31/12/2011 2011/2012 changeBusinessExternalsegmentExternalEBITArevenuetotalrevenuerevenueBusinessEBITAsegmentExternaltotalrevenueEBITArevenueTotal Digital Channels 190.3 186.1 30.9 187.7 184.6 34.3 2.7 1.5 (3.4)In 2012, revenue from the Group’s digital channels grew by 0.8%, primarily driven by W9, which reportedaverage audience ratings of 3.2% during the period (4+ year olds, source Médiamétrie), confirmed itsranking as the leading DTT channel for the commercial target, with audience ratings of 4.2% (SourceMédiamétrie),consolidated its ranking as leading DTT channel in the strategic 6pm-11pm time slot, andwas the DTT channel which broadcast the largest number of high-profile programmes, showing 267programmes attracting at least 1.0 million viewers.More generally, digital channels contributed €30.9 million to consolidated EBITA, representing anoperating margin from recurring operations of 16.6%.5.1.2.4. Diversification and audiovisual rightsContribution - Diversification & Audiovisual Rights(€ millions)Businesssegmenttotalrevenue31/12/2012ExternalrevenueEBITABusinesssegmenttotalrevenue31/12/2011ExternalrevenueEBITA2011/2012 changeBusinesssegmentExternalEBITAtotalrevenuerevenueAudiovisual rights 105.5 88.0 2.9 120.4 90.0 3.4 (15.0) (2.0) (0.5)Interactions 17.7 14.6 6.0 37.4 32.9 5.8 (19.7) (18.3) 0.2Ventadis 273.7 266.7 12.9 276.0 268.2 11.8 (2.4) (1.4) 1.1M6 Web 104.3 101.8 36.8 105.1 102.1 34.6 (0.8) (0.3) 2.3FCGB 65.7 65.2 (10.7) 58.3 57.9 (13.2) 7.4 7.3 2.4Intra-Group eliminations (12.9) - - (16.8) - - 4.0 - -Total Diversification &Audiovisual Rights554.0 536.3 47.8 580.4 551.1 42.4 (26.5) (14.8) 5.4138 - M6 GROUP - 2012 REGISTRATION DOCUMENT
2012 FINANCIAL REPORTAdvertising and non-advertising revenues from Diversification and Audiovisual Rights decreased by 2.7%in 2012, whilst the divisional contribution to EBITA increased significantly (up 12.7%):o revenues of the Audiovisual Rights receded slightly due to fewer video releases;o M6 Web strengthened its position in both the mobile phone and online advertising markets;o Ventadis (teleshopping and e-commerce) reported stable revenues and an increase in EBITA;o The Interactions division’s operating profit increased due to numerous musical successes(Génération Goldman, Sister Act, etc.)o Finishing 5 th in the French Ligue 1 Championship in 2011/2012 and competing in the Europa Leagueenabled F.C.G.B. to reduce its losses compared to the previous season.Diversification and Audiovisual Rights saw their operating margin from recurring operations increased 1.2percentage points to 8.9%.5.1.2.5. Unallocated itemsEliminations and unallocated income/expenses related to: the cost of share subscription options and cost of free share allocation plans, in accordance withIFRS 2 – Share-based payments; unallocated consolidation restatements primarily corresponding to the elimination of intra-Groupgains on the disposal non-current assets or inventories; EBITA of property companies and dormant companies (€3.4 million in 2012, compared to €3.5million in 2011).o Immobilière M6 owns Métropole Télévision Group’s 10,000 m 2 head office facilitieslocated in Neuilly sur Seine.o Immobilière 46D acquired a 4,000 m² building in Neuilly sur Seine in 2007.o SCI du 107 owns a 6,000 m² building in Neuilly-sur-Seine following a major rebuildingprogramme completed in 2012.These premises are leased to Group companies. All leasing and sub-leasing agreements providefor transparent billings of rent and related charges to each tenant, under normal market conditions,based on their allocated area of space.5.1.3. Significant contracts signed over the last 24 monthsNo significant contract was concluded outside the ordinary activities of the M6 Group during the last 24months.5.1.4. Compliance with legal obligations and the agreementThe M6 and W9 channels, which benefit from a terrestrial broadcasting licence, are subject to obligationsas a result of their agreement signed with the CSA. On an annual basis, the channels communicate theconditions for the implementation of their obligations and commitments during the previous financial yearto the CSA.M6 GROUP - 2012 REGISTRATION DOCUMENT - 139
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DisclaimerThis report is an English
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M6 GROUP PRESENTATION1. M6 Group pr
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CORPORATE GOVERNANCECORPORATE GOVER
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COMBINED GENERAL MEETING OF 13 MAY
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