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2012 FINANCIAL STATEMENTS AND RELATED NOTESThe internal management reporting prepared on a monthly basis and communicated to the principaloperational decision-maker, i.e. the Executive Board, as well as to other operational decision makers isbased on these segments.Revenue and EBITA, defined as operating profit before income and expenses relating to businesscombinations and proceeds from the disposal of subsidiaries and investments, are the most closelymonitored performance indicators. Capital employed and investments made by each segment are alsoanalysed on a regular basis in order to assess the profitability of resources allocated to each segment andmake decisions about the future investment policy.The operating segments presented are as follows:M6 TV NETWORKThis segment includes the M6 TV channel, based on a business model entirely financed by advertisingand extensive broadcasting (terrestrial SD and HD digital networks, broadband, cable and satellite), aswell as all the main associated activities, such as the production, co-production and advertising agencyactivities.DIGITAL CHANNELSThis segment includes Group channels that are broadcast on the DTT network or as part of packagesbroadcast by broadband, cable or satellite. These channels were originally termed thematic channels;they have considerably increased their market share, both in terms of audience ratings and advertisingrevenue over the past few years.The business model of the so-called “pay channels” is based on mixed financing (advertising revenue andincome from cable operators), whereas that of free channels (free SD DTT broadcasting) is fullydependent on advertising.DIVERSIFICATION AND AUDIOVISUAL RIGHTSThis segment includes all activities considered independent, in part or in full, from the TV channelbroadcasting business. Their main features notably include the distribution of physical or intangible goodsto consumers, merchandise inventory building, buying and reselling and event organisation.Revenues primarily originate from sales to consumers and ticket sales, as well as sales to specialiseddistributors and vendors. The contribution of advertising revenue, although remaining marginal for thissegment, is growing rapidly.ELIMINATIONS AND UNALLOCATED ITEMS relate to the cost of the share purchase and subscription plans, thecost of the free share allocation plans, the net profit of property companies and dormant companies, aswell as unallocated consolidation restatements primarily corresponding to the elimination of intra-Groupgains on the disposal of non-current assets or inventories.176 - M6 GROUP - 2012 REGISTRATION DOCUMENT
2012 FINANCIAL STATEMENTS AND RELATED NOTES7.1. Income statementThe contribution of each business segment in the income statement is detailed as follows:M6 TV NetworkDigital channelsDiversification &Audiovisual rightsElimination andunallocated itemsTotal2011External revenue 685.3 184.6 551.1 0.3 1,421.3Inter-segment revenue 39.1 3.1 29.3 (71.5) -Revenue 724.4 187.7 580.4 (71.2) 1,421.3Profit from recurring operations (EBITA) from continuing operations 175.7 34.3 42.4 (7.4) 245.0Operating income and expenses relating to business combinations - - (3.4) - (3.4)Income from disposal of subsidiaries and investments - - - -Operating profit (EBIT) from continuing operations 175.7 34.3 39.0 (7.4) 241.8Net finance income/(expense) 3.0Group share of profit from associates (0.1)Profit before tax (EBT) from continuing operations 244.5Income tax (94.9)Net profit from continuing operations 149.7Net profit 149.7Net profit - Group share 149.6Non-controlling interests 0.0M6 TV NetworkDigital channelsDiversification &Audiovisual rightsElimination andunallocated itemsTotal2012External revenue 664.0 186.1 536.3 0.2 1,386.6Inter-segment revenue 42.1 4.2 17.7 (64.0) -Revenue 706.1 190.3 554.0 (63.8) 1,386.6Profit from recurring operations (EBITA) from continuing operations 142.5 30.9 47.8 (2.7) 218.5Operating income and expenses relating to business combinations - - (12.5) - (12.5)Income from disposal of subsidiaries and investments - - - - -Operating profit (EBIT) from continuing operations 142.5 30.9 35.3 (2.7) 206.0Net finance income/(expense) 24.4Group share of profit from associates -Profit before tax (EBT) from continuing operations 230.4Income tax (90.2)Net profit from continuing operations 140.2Net profit 140.2Net profit - Group share 140.2Non-controlling interests 0.0M6 GROUP - 2012 REGISTRATION DOCUMENT - 177
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DisclaimerThis report is an English
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M6 GROUP PRESENTATION1. M6 Group pr
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M6 GROUP PRESENTATION1.4.2. 2012 fi
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M6 GROUP PRESENTATION• Another am
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M6 GROUP PRESENTATIONIn total, the
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M6 GROUP PRESENTATIONThe top ten M6
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M6 GROUP PRESENTATIONChange in the
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M6 GROUP PRESENTATIONshown-before s
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M6 GROUP PRESENTATIONIn order to co
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M6 GROUP PRESENTATIONa) Business pr
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M6 GROUP PRESENTATIONMistergooddeal
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M6 GROUP PRESENTATIONSTATUTORY ALLO
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M6 GROUP PRESENTATIONHowever, a Gen
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M6 GROUP PRESENTATIONAs a network w
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M6 GROUP PRESENTATIONb) Provisions
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M6 GROUP PRESENTATIONThe amendment
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CORPORATE GOVERNANCECORPORATE GOVER
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CORPORATE GOVERNANCEMembers of the
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CORPORATE GOVERNANCE- Chairman of t
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CORPORATE GOVERNANCEAppointments an
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CORPORATE GOVERNANCEDelphine ARNAUL
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CORPORATE GOVERNANCEThe missions an
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CORPORATE GOVERNANCEcharge of imple
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CORPORATE GOVERNANCEJérôme Leféb
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CORPORATE GOVERNANCEa) Basis of com
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CORPORATE GOVERNANCEtwo years of ad
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CORPORATE GOVERNANCEb) Free shares
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CORPORATE GOVERNANCERobin LEPROUX 2
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CORPORATE GOVERNANCE- no family con
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CORPORATE GOVERNANCEEight of these
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CORPORATE GOVERNANCEMinutes are pre
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CORPORATE GOVERNANCEonce a year and
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CORPORATE GOVERNANCE• matters rel
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CORPORATE GOVERNANCE- Excluding Rob
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CORPORATE GOVERNANCE5.1.3 Allocatio
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CORPORATE GOVERNANCE- an Ethics Cha
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CORPORATE GOVERNANCEAt the balance
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CORPORATE GOVERNANCEbecoming famili
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CORPORATE GOVERNANCESHARE CAPITAL33
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SHARE CAPITALStock market performan
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SHARE CAPITAL3.4. Cash dividend pol
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SHARE CAPITAL- At least one third o
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SHARE CAPITALChange in the number o
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SHARE CAPITALTreasury shares alloca
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SHARE CAPITALDate of General Meetin
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SHARE CAPITALDate of General Meetin
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SHARE CAPITALControlled companies h
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SHARE CAPITAL3.10.4.4. Identificati
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RISK FACTORS AND MANAGEMENTRISK FAC
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RISK FACTORS AND MANAGEMENT4.1.2. D
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RISK FACTORS AND MANAGEMENT4.1.5. P
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RISK FACTORS AND MANAGEMENTIt is po
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SUSTAINABLE DEVELOPMENT AND CORPORA
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COMBINED GENERAL MEETING OF 13 MAY
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COMBINED GENERAL MEETING8.2. Report
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COMBINED GENERAL MEETING8.3. Report
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COMBINED GENERAL MEETINGIn ordinary
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COMBINED GENERAL MEETING- ensure ad
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COMBINED GENERAL MEETINGOTHER INFOR
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OTHER INFORMATION9.4. Person respon
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OTHER INFORMATION14. ADMINISTRATIVE
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OTHER INFORMATIONiv.Reports of the
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