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Forward Looking Statements

CIBC World Markets 7 th Annual Eastern Institutional Investor Conference September 22 - 24, 2008 Montreal, Quebec. Forward Looking Statements.

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Forward Looking Statements

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  1. CIBC World Markets7th Annual EasternInstitutional Investor ConferenceSeptember 22 - 24, 2008Montreal, Quebec

  2. Forward Looking Statements • This presentation contains forward-looking statements, which are subject to known and unknown risks and uncertainties that could cause the Company's actual results to differ materially from those set forth in the forward-looking statements. These risks include changes in customer demand for the Company's products, changes in raw material and equipment costs and availability, seasonal fluctuations in customer orders, pricing actions by competitors, and general changes in the economic environment. • Currency • Unless noted otherwise, all dollars are expressed in Canadian dollars. • LTM Results are for the period ended June 30, 2008

  3. Management Pierre Karl Péladeau President and Chief Executive Officer Louis Morin Vice President and Chief Financial Officer

  4. Corporate Structure (C$ in millions) 25% 54.7% 45.3% Inc. LTM Revenue : (1) $3,638 LTM EBITDA : (1) 1,078 51% Economic 99% Voting 100% 100% Largest French language broadcaster and magazine publisher in Quebec and in North America #1 pay television operator in Quebec; #3 cable operator in Canada; #1 video store chain in Quebec Largest newspaper publisher in Quebec and Canada (2) Book RetailingNew Media LTM Revenue: $433 LTM EBITDA: 68 LTM Revenue: $1,700 LTM EBITDA: 726 LTM Revenue: $1,160 LTM EBITDA: 258 LTM Revenue: $443 LTM EBITDA: 28 Notes: Segmented revenues include inter-company revenues. Segmented EBITDA excludes head office. (1) Pro Forma the Osprey Media acquisition. (2) Osprey Media and Sun Media are 100% owned separately by Quebecor Media.

  5. Quebecor Inc.’s Value Drivers • Quebecor Inc. is well positioned for growth with the totality of its value being derived from Quebecor Media QMI’s share of QI’s enterprise value % of QI value Notes: Assuming 100% of holding company discount attributed to QMI value

  6. QMI Diversified Financial Profile LTM EBITDA (1) LTM Revenue (1) Newspapers 31.9% Cable 67.3% Cable 46.7% Newspapers 24.0% Leisure and Entertainment 8.5% Leisure and Entertainment 1.9% Other & Intersegment 1.0% Corporate & Other0.5% Broad casting 6.3% Broadcasting 11.9% Revenues (1) = $3.6 billion EBITDA (1) = $1,078 million (1) Pro Forma for the Osprey Media acquisition.

  7. Leading Canadian Cable Operator • 1,660K basic subs (831K digital subs) as of Jun 30 • Fastest growing digital TV provider in Canada (cable or satellite) during LTM • Superior offering including VOD and SVOD • 989K cable modem subs as of Jun 30 • 15.8% cable Internet subscriber growth during LTM • Highest speed in its market (50Mbps service available) • Currently testing wideband technology (speeds up to 100Mbps) • 743K subs as of Jun 30 • Achieved penetration of 44.7% of basic subs • Strong lift effect for other services • Hybrid VoIP telephony service • 55K lines as of Jun 30 • Completed Videotron bundling offer • ARPU above initial projections • Operates under a MVNO strategy (“white label”) utilizing Rogers wireless’ network • Just acquired 40MHz of AWS licenses in Quebec Cable TV Internet Telephony Wireless Quadruple Play Vidéotron continues to lead the industry in new service deployment

  8. Strong Financial Performance • Robust new service deployment and focus on customer service have led to strong financial performance Reported Revenue Reported EBITDA CAGR = 22% CAGR = 16% Note: Pro Forma Vidéotron Telecom.

  9. Growing Basic Cable Customer Base • Videotron exhibits the highest growth in the industry in terms of basic cable customers • Videotron has realized 12 consecutive quarters of positive net adds and improved momentum since the launch of its telephony service Number of Basic Cable Customers Launch of Telephony 2003 2004 2005 2006 2007 2008

  10. Digital Services Subscriber Growth • Videotron is the fastest growing Canadian cable digital TV and cable modem Internet service provider Cable Digital TV Customers Cable Internet Customers Videotron CAGR = 25% Videotron CAGR = 36% 2002 2003 2004 2005 2006 2007 2008 2002 2003 2004 2005 2006 2007 2008 Source: Videotron and company reports.

  11. Strong Residential Telephony Momentum • Vidéotron has positioned itself as a major player in Canadian Telecom since its launch of VoIP in 2005 • In the first half of 2008, VL added 106,600 subscribers to its telephony service • 238,500 adds in 2007 (record) • 234,900 in 2006 • 160,800 in 2005 (launch year) Penetration of basic cable subs Lift Effect • 57% lift experienced (more than one new product) in Q2-2008 • 37% new customers in Q2-2008 • 96% taking more than 1 product • 66% taking all three Record 2007, Promising 2008 2005 2006 2007 2008

  12. Advanced Wireless Services

  13. Market Potential • Canadian wireless operators exhibit world leading EBITDA margins • Canada's penetration of wireless service lags compared to other countries • Quebec’s penetration is below the Canadian average • Auction Rules favored new entrants: • 40 MHz (on a total of 105 MHz) of spectrum set aside for new entrants • Mandated roaming and tower sharing at commercial rates gives entrants network build out flexibility • QMI acquired all of the set aside spectrum in the province of Quebec, except for 20 MHz in the Outaouais region, thus preventing any other new entrant

  14. Nationwide Presence and Strategically Clustered • Nationwide presence covering key markets offers national advertising and distribution solutions • Clustering provides significant cost efficiencies and opportunities for bundled advertising packages • Acquisition of Osprey Media creates the #1 newspaper publisher in Canada and provides a strong fit with Sun Media – Osprey Media’s community newspaper focus and limited geographic overlap increases stability and diversification of Sun Media asset portfolio 8 Paid Urban Dailies + 7 Free Commuter Dailies 249 Community Newspapers andSpecialty Publications 190 Sun Media 59 Osprey

  15. Maintained Strong Margins • Sun Media and Osprey have continued to deliver industry leading margins despite increased costs from new free dailies (at Sun) • Synergies and new presses in Mirabel and Islington should provide additional cost savings Sun Media and Osprey EBITDA Margins Peer Comparison (LTM) 23.7% * As of Jun 30, 2008; ** As of Apr 30, 2008; *** As of May 31, 2008. Notes: Sun Media – Newspaper segment excluding Osprey Torstar - Star Media and Metroland Media segments GTC - Media segment CanWest - Newspaper segment

  16. Strong Growth from Free Dailies • 24 Hours/heures Toronto, Montréal, Vancouver combined, showed a 5.2% growth in total readership (1) Combined Revenues of Toronto, Montreal and Vancouver Free Dailies 2006 2005 2007 2008 • Creating a well-respected national free-daily newspaper brand with the recent launches of Ottawa, Edmonton and Calgary Combined Revenues of Ottawa, Calgary and Edmonton Free Dailies 2006 2005 2007 2008 (1) 2007 NADbank versus 2006 NADbank studies .

  17. Leading Market Share French-language TV Market Share Financial performance Consistently delivering strong market share despite increased fragmentation Source: Audimétrie BBM; Monday - Sunday, 2 years + April 28 – August 3, 2008

  18. Financial Highlights

  19. Steady Growth of QMI EBITDA Revenues CAGR = 13% CAGR = 11%

  20. Cash Flow Generation • Videotron’s strong operating results translated into strong free cash flow • QMI’s intense focus on profitable growth, cost containment and opportunistic refinancings has resulted in improvements in EBITDA and Free Cash Flow • Press investment projects at Newspapers impacted free cash flow in 2005 and 2006 QMI Consolidated Free Cash Flow Videotron Free Cash Flow (1) Note: Free Cash Flow is defined as EBITDA, less cash interest expense, less current taxes, less Capex. (1) Includes Vidéotron Telecom, with the exception of 2001.

  21. De-Leverage • Solid EBITDA growth and repayment of debt from free cash flow has allowed significant improvement of leverage statistics QMI Consolidated Leverage Ratio (1) (1) Note: Debt including swap’s fair market value, as per Credit Agreement. (1) Pro forma 12 months of contribution from Osprey

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