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4 Ventures Limited

4 Ventures Limited. 2003 Annual Results. April 15 th 2004. Rob Woodward Commercial Director Channel 4 Corporation. 2003 results. 4 Ventures ongoing businesses profitable in aggregate for the first time All four divisions ahead of targets

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4 Ventures Limited

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  1. 4 Ventures Limited 2003 Annual Results April 15th 2004

  2. Rob Woodward Commercial Director Channel 4 Corporation

  3. 2003 results • 4 Ventures ongoing businesses profitable in aggregate for the first time • All four divisions ahead of targets • Strengthened relationship with core channel and increased revenue contribution to 18% • Channel 4’s exit from attheraces imminent • Run off of FilmFour Ltd continues, all new film financing activities now undertaken by Channel 4

  4. 4 Ventures Ltd results 2003 £m 2002 £m 2001 £m Avg Growth Turnover* 123.9 101.5 +18% 138.8 Profit / (Loss)* (17.7) (54.8) +54% 4.1

  5. £? £4.1m 2001 2002 2003 2004 123% (£17.7m) 68% (£54.8m) 2003 First year of operational profit 20 10 0 -10 -20 -30 -40 -50 -60

  6. Revenue growth slower but key management focus in 2004 £138.8m £123.9m £101.5m +12% +22%

  7. 4 Ventures Organisation Chart

  8. Anmar Kawash Managing Director 4 Ventures Limited

  9. 2003 • Consolidation • Put strong management team in place • Identified low risk, low investment opportunities • Solid platform to drive future growth

  10. Loss reduced by 66% 2002 2003 • E4 lost £5.1m (£16.1m 2002) a 68% improvement • FilmFour channels lost £2.7m (£6.7m 2002) a 60% improvement (£7.8m) (£22.8m) Revenue up by 29% • E4 revenue up by 34% to £56.9m • FilmFour channels revenue up by 12% to £13.9m £70.8m £54.9m 4 Channels

  11. 4 Channels - highlights • E4 remains 2nd most watched digital channel amongst 16-34 year olds • Successful launch of E4+1 growing total E4 share by 25% • FilmFour channels is the largest non-Sky premium subscription service • Launch of FilmFour Weekly increased overall viewing of FilmFour • Total investment across 4 Channels in programme and other content £51.8m (2002: £47.7m)

  12. Profit up by 7% £11.7m • Key focus on cost efficiencies resulting in 7% increase in profit £10.9m Revenue down by 10% £36.9m £33.3m • Difficult international market conditions resulted in a 10% decline in revenues 4 Rights

  13. 4 Rights - highlights • 4 Rights invested £7.4m into independent programming and co-production in 2003 • Total contribution to Independent suppliers of £13m including returns through exploitation of programming and co-production finance • Channel 4 International signed significant deals with international media partners (Discovery, HBO) • Consumer Products had successful year especially for publishing and DVDs

  14. Profit reached £1.4m £1.4m • Key focus on cost efficiencies resulted in improved profit £0.1m Revenue up by 2% £20.9m £21.4m 4 Learning

  15. 4 Learning • Responding to changing market & aligning output closer to the channel with a focus on 14-19 olds & their broader education needs • Higher profile productions scheduled in peak time e.g. Twelfth Night, Illustrated Mum and Teen Big Brother • Launch of TexTips mobile services with 25,000 daily users, 5 million messages sent and £0.25 million profit generated in year one • Continued investment in digital product range and sales capabilities

  16. Profit up by 143% • 143% increase in profits due to tight cost control, especially in Interactive £1.5m (£3.5m) 2003 2002 Revenue up by 16% £19.4m • 16% increase in revenues driven by strong performance in Interactive £16.7m 4 Services

  17. 4 Services • 4 Interactive profitable for the first time • 4creative continues to build its expertise in sponsorship credits • 124 Facilities focusing on driving more revenue from outside the Channel 4 group

  18. Rob Woodward Commercial Director Channel 4 Corporation

  19. Commercial Division

  20. 2004 Priorities • Achieve profitability across all existing businesses • Deliver £10 million+ in profits from existing businesses • Transition from consolidation to growth mode • Actively invest in existing businesses and new growth opportunities • Manage the implications of the Code of Practice on our 4 Rights business • Renew partnership with Independent production sector • Successful launch of More4

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