Berlin, December 11, 2013 - Axel Springer SE · Ø Age of User: 54. 7 Source: ... As a result,...

13Capital Markets Day Berlin, December 11, 2013

WI-FI Access CMD2013

Login 2013-ASse

CAPITAL MARKETS DAY 2013 “Digitization – Radical transformation

into a digital publisher”

Berlin, December 11, 2013 Axel-Springer-Str. 65, 10888 Berlin Room “Ernst Cramer”, 19th Floor

AGENDA

1 Keynote Dr Mathias Döpfner, Chairman & CEO 2 DIE WELT & N24 – Winning over the new generation

Jan Bayer, President WELT Group and Printing

3 BILD – From a daily paper to the daily companion in everyone's life Dr Andreas Wiele, President BILD Group and Magazines, Donata Hopfen, Managing Director BILD GmbH & Co KG

4 Trends and potentials in advertising Peter Würtenberger, Chief Marketing Officer 5 Broadening the Scope and Building on Market Leadership in Digital

Dr Jens Müffelmann, Head of Electronic Media

6 StepStone – Expanding market positions Ralf Baumann, CEO StepStone

7 SeLoger – Fit for future growth

Roland Tripard, CEO SeLoger 8 idealo – past, present & future

Dr Albrecht von Sonntag, Founder & Managing Director idealo 9 kaufDA – Building a global market leader in "research online – buy offline"

Christian Gaiser, Founder & CEO kaufDA 10 Group Financials and Cost Management

Dr Julian Deutz, designated CFO as of April 2014 11 Summary and outlook Dr Mathias Döpfner, Chairman & CEO

Disclaimer

The following presentations, which have been issued by Axel Springer SE (the "Company"), comprise the written materials/slides for the Capital Markets Day of the Company, held on December 11, 2013.

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, express or implied, is given by or on behalf of the Company, any of its directors, or any other person as to the accuracy or completeness of the information or opinions contained in these presentations or of any oral information provided in connection therewith, and no liability, responsibility or obligation is accepted for any such information or opinions.

These presentations contain forward looking statements which involve risks and uncertainties. The forward looking statements speak only as of the date of these presentations and include the Company’s beliefs and expectations and the assumptions underlying them, which may or may not prove to be correct. These statements are based on plans, estimates and projections as they are currently available to the management of the Company. The actual performance and results of the business of the Company could differ materially from the performance and results discussed in these presentations.

The Company undertakes no obligation to update or revise any forward looking statements or other information contained herein whether as a result of new information, future events or otherwise.

These presentations do not constitute or form any part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares in the Company, nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision in relation thereto.

1

KeynoteCapital Markets Day – Berlin, December 11, 2013

Dr Mathias Döpfner, Chairman & CEO

You can access the webcast of Mathias Döpfner’s speech on our website

www.axelspringer.com/cmd2013

2 Keynote2 Dec. 11, 2013

2

DIE WELT & N24Winning over the new generationCapital Markets Day

Jan Bayer, President WELT Group and Printing

Berlin, December 11, 2013

2 December 11, 2013

Axel Springer acquires 100% of Germany’s leading TV-news channel

3

TV Channel

Website

News Apps

News Production

December 11, 2013

TV Advertising

The WELT Group: Most extensive weekly crossmedia reach in quality newspaper segment

4 December 11, 2013

Crossmedia net reach (in m, per week)

Source: b4p 2013-I; Basis: Readers per issue, users per week.

2.7

3.3

3.7

4.6

DIE WELT Online reaches more people than all of its direct competitors

5

Unique visitors (in m, average per month 9M/13)

Source: AGOF internet facts 2013-09

DWZeit

7.1

5.4

SZ

4.0

8.4

December 11, 2013

Only two ad-revenue based quality TV news channels in Germany: N24 and n-tv

6 December 11, 2013

Source: AGF/GfK 2012, TV Scope 5.0, media control

Products

N24 TV (news, magazine programmes, documentaries, talk shows)N24 Digital (website, apps)N24 Production (News P7S1)Ad sales (TV)

n-tv TV (news, magazine programmes, documentaries, talk shows)n-tv Digital (website, apps)

Founded 2000 by P7S1, MBO in 2010 1992 by RTL Group

Target groupMale (14-49 years): 70.4%Ø Age of User: 50

Male (14-49 years): 68.7%Ø Age of User: 54

7

Source: AGF/GFK 31.10.2013, AGOF internet facts 2013-09

Market share (in %)

N24 leading TV news channel but with catch up potential online

4.2

N24

1.6

n-tv

December 11, 2013

Unique visitors (in m, average per month 9M/13)

N24

1.3

n-tv

1.0

TV Online

DIE WELT / N24: Perfect match for common digital future

8

Phase 1 Phase 2

Changingcustomer

needs

MBOcreatesefficiencies

Newdigital

products

DigitalInnovation leadership

Costsavings

Need for inventory of

moving images

No. 1 newschannel(ad-revenue based)

Phase 3 Phase 4

December 11, 2013

Need for expertise in digitization

Axel Springer acquires N24

Combining

9

Source: AGOF Internet facts 2013-09, ACTA 2013

High correlation of digital target group, with further growth potential

December 11, 2013

Male (14-49 years)

Average Age

Net household income (>3 TEUR)

Tertiary Education

43%

40

39%

46%

48%

Online

36

37%

44%

Quality Journalism at the core of all media channels

10

QualityJournalism

Moving images

TV

Print

Content

Digital

Content & Moving images

December 11, 2013

Multichannel approach: First test successfully completed in 2012

11 December 11, 2013

Print TV

Multichannel reporting: 2012 U.S. election campaign

Online

Media advertisingPrint coverage

TrailersTV appearances

Election blog (including analysis & background reports)

The German media landscape: DIE WELT / N24 most comprehensive multimedia coverage


Digital

Print

Video

Live TV

( ) ( )

13

DIE WELT / N24 clearly ahead of competition

December 11, 2013

Source: AWA 2013 + ma 2013 Online 9 (addition of weekly reach: daily and weekly newspapers, digital, TV) = gross multimedia contact

24.6

11.2

7.46.56.3

4.3

Gross multimedia contact (in m, average per week)

DIE WELT / N24 - a strategic investment in the future of quality journalism with major potential


Multimedia future DIE WELT / N24 Moving image supplier for Axel Springer

Video proficiencyLive broadcast capabilityDigital skillJournalistic expertiseMatching target group

N24 as the central moving image supplier for the brands and offerings of Axel Springer

DIE WELT / N24 as the only leading quality news supplier available on all major channels

3

BILD – From a daily paper to the dailycompanion in everyone’s lifeCapital Markets Day – Berlin, December 11, 2013

Dr Andreas Wiele, President BILD Group & Magazines

Donata Hopfen, Managing Director BILD GmbH & Co KG

BILD achieved three big successful expansions since its inception

BILD – From a daily paper to the daily companion in everyone's life2

1952 1956 since 1986 since 1996

Frequency Expansion Topical Expansion Digital Expansion

Dec. 11, 2013

Each expansion increased the reach of BILD significantly


Frequency Expansion Topical Expansion Digital Expansion

12.2m readers 9.5m readers 10.9m readers1 22.5m users2

37.6m net reach

Source: best for planning 2013 I, Basis: German-speaking population 14+; AGOF 1 Exclusive readers AUTO BILD incl. AB sportscars, allrad, autotest; COMPUTER BILD incl. CB SPIELE, AUDIO VIDEO FOTO BILD; SPORT BILD2 User per month bild.de, autobild.de, computerbild.de

Dec. 11, 2013

4

60% of the BILD readers read the newspaper before 10am

BILD – From a daily paper to the daily companion in everyone's life

Source: Buyer-analysis, 2011

% of readers BILD

43210 2217 18 19 2015 21 23141312111098765 16

EveningMiddayMorningNight

Dec. 11, 2013

5

BILD.de extended the consumption of BILD content into the afternoon and beyond


Source: BILD newspaper: Buyer analysis, 2011; BILD.de: Webtrekk, October 2013 (schematic illustration)

43210 2217 18 19 2015 21 23141312111098765 16

EveningMiddayMorningNight

% of readers BILD

% of visits BILD.de

Dec. 11, 2013

6

Mobile usage expands the BILD brand into the early hours and late evenings


Source: BILD newspaper: Buyer analysis, 2011; BILD.de: Webtrekk, October 2013 (schematic illustration)

43210 2217 18 19 2015 21 23141312111098765 16

EveningMiddayMorningNight% of visits BILDmobil

% of readers BILD

% of visits BILD.de

Dec. 11, 2013

7

As a result, reading time of BILD digital is longer than of any competitors’ product

24.5 min

Spiegel OnlineBILD.de FAZ.net

11.0 min

45.0 min

Average usage minutes per visitor per month

Dec. 11, 2013 BILD – From a daily paper to the daily companion in everyone's life

Source: ComScore, September 2013

x 4.1

x 1.8

BILD digital reaches a younger and more affluent audience


33.1

39.5

47.8 48.3

Digital with younger audienceAverage age, in years

Digital with higher income audienceNet income per household, in €

3,0042,821

2,5652,400

AverageTotal

Population

AverageTotal

Population

Source: best for planning 2013 I; Basis: German-speaking population 14+

- 15y + 25%

Dec. 11, 2013


This successful digital expansion is driven by brand and editorial power

1 Brand Power

2 Editorial Power 1996 2009 2010 2011 2012

Digital Expansion

Dec. 11, 2013


0.5

12.2143.8

176.49.5

1.0 21.565.8

Daily NewspaperReach in m

MobileVisits in m

OnlineVisits in m

Sunday PaperReach in m

Source: daily and sunday newspaper: MA reach 2013 II; Basis: German-speaking population 14+; online and mobile: IVW, average July 2013-October 2013

BILD is market leader – in print and digital

1 Brand Power

Dec. 11, 2013


0.7

1.8

BILD has more female, young and educated readers than any other print medium

Reach among readers with academic educationIn m readers

20% more academics than Germany’s largest daily quality

newspaper

Source: MA reach 2013 II, Basis: German-speaking population 14+

1 Brand Power

0.8

0.7

Reach among 14-29yIn m readers

Almost three times as many readers as the leading teen magazine

2.1

0.82.5

4.5

Reach among womenIn m readers

80% more female readers than the strongest competitors’

women’s magazine

Dec. 11, 2013


BILD is the only newspaper in the world reaching more people than the most successful TV-Show

Wetten, dass..?

BILD

7.7 12.2 8.2 6.7 21.92.8

CoronationStreet

The Sun

Navy CIS

WSJ

TV-viewers vs. readersIn m

Sources: BILD reach: MA reach 2013 II; Wetten, dass..?: Total reach (+14 years) above 5 shows in 2013 (19.01.-15.11.2013); WSJ reach: GFK MRI Media Release, Spring 2013; USA TV: Nielsen Television, TV Ratings for Primetime, 2012-2013

1 Brand Power

Dec. 11, 2013

Special edition BILD zur Wahl, 21st of September

13

41m free copies delivered to all German households

22 advertisers

BILD – From a daily paper to the daily companion in everyone's lifeDec. 11, 2013

1 Brand Power

Net advertising revenue > € 10m

… and even more young people think this way!

Adults regard newspapers as the most credible medium …

BILD brand power enhanced digital growth –thanks to the ongoing credibility of newspapers

31

17

14

TV

Internet

Radio

Newspapers

22

17

11Internet

Radio

TV

Newspapers

14 BILD – From a daily paper to the daily companion in everyone's life

1 Source: ARD/ZDF longtime-study mass-communication, 2010 | 2 Source: JIM-study, 2012

German population 14 years old and above1

In %German population 12-19 years old2

In %

1 Brand Power

37 48

Dec. 11, 2013

With more than 500 reporters BILD has the strongest editorial department in Germany


2 Editorial Power

Julian Reichelt, BILD’s war reporter

Dec. 11, 2013

The new BILD office in Los Angeles provides news from 10pm to 6am


BILD Berlin: 6am to 10pm (CET)

BILD Los Angeles: 10pm to 6am (CET)

2 Editorial Power

Dec. 11, 2013

779671

619507

403345

337294290

256251248

205192

183

BILD is the most quoted news brand in Germany

17

Financial TimesSpiegel Online

ARDGuardian

ZeitWirtschaftswoche

TagesspiegelWall Street Journal

Focus

FAZ/ FAZ am S.

New York Times

WELT/ WELT am S.

HandelsblattSüddeutsche

1,146BILD / BamS 1,338

Spiegel

Stern

Quotation ranking in German opinion leader media Number of quotations, 1-9/ 2013


Source: Media Tenor quotation-ranking, most quoted media, 1-9/ 2013

2 Editorial Power

# 14

Dec. 11, 2013

BILD power allowed us to increase copy price to mitigate revenue effect of circulation decline


0.45

0.70

0.65

0.55

0.60

0.40

0.50

0.64

201220112010

0.65

2013

0.69

20092008

0.58

0.51

20072006

0.50

200520042003

0.48

2002

0.42

Dec. 11, 2013

Average BILD copy price development1

In €

Source: IVW 2002 I – 2013 II1 weighted average of copy prices by circulation per regional edition (Germany, retail only). Since 2012 II including ePaper. Since 2013 I BILD/ B.Z. Berlin Brandenburg total & BILD/ B.Z. Germany total

The ongoing strategy for the BILD portfolio


Retain and grow the leading position on all platforms

Drive growth by innovation and brand extension

Optimize product, processes and profitability

Continue and strengthen high-quality journalism

Establish paid content

Dec. 11, 2013

Premium

TodaySchematic illustration


Tomorrow

How do we grow?

Dec. 11, 2013

BILD.de’s user base is growing


Unique User in m

Source: AGOF

6

8

10

12

14

16

Sept. 10

May10

Jan.10

Sept. 13

May13

Jan.13

Sept. 12

May12

Jan.12

Sept. 11

May11

Jan.11

11.1

14.2

Dec. 11, 2013

As innovation leader BILD.de regularly establishes new products for new target groups


20132008 – 2012

Dec. 11, 2013


Photo-upload community 1414 launched inSeptember 2013

BILD sends 1414-reporters on so-called missions with specific tasks

Missions are incentivized with prizes

Apps for iOS and Android as well as a new online presence

Best mission triggered 38k photo uploads in three days

Dec. 11, 2013

Premium



Tomorrow

How will we grow further?

?

Dec. 11, 2013

Premium



Tomorrow

We grow with BILDplus, our premium segment

Dec. 11, 2013

On June 11th we launched BILDplus

BILD – From a daily paper to the daily companion in everyone's life26 Dec. 11, 2013

Why did we introduce paid content?

27 BILD – From a daily paper to the daily companion in everyone's lifeDec. 11, 2013

BILDplus is a revolution for the media industry in Germany


Establishing a payment culture for editorial content online and shifting the “free” paradigm of the internet

Retaining BILD’s leading position across all platforms

Establishing a BILD brand subscription; supporting BILD’s total circulation

ObjectivesBILDplus

Replicating second revenue stream as in the offline world

Dec. 11, 2013


Commoditized news are free

Added value has a price

Stories that only BILD can tell

Content that is unique to BILD

Content with a clear added value

All App-Products

This is Plus

Guiding principles

Dec. 11, 2013

Premium content is labelled with the BILDplus logo on the homepage


BILDplus content is fully accessible for active subscribers



How do we bundle

and price?

Dec. 11, 2013

BILDplus brand subscription: The reader pays only once and uses all BILD premium products


BILD.deSmart TV

Mobile Portal

BILD.deSmartphone Apps

BILD.deTablet Apps

Print

Dec. 11, 2013

There are three BILDplus bundles


€ 9.99per month

€ 4.99per month

€ 14.99per month

€ 0.991st month

€ 0.991st month

€ 0.991st month

Dec. 11, 2013


BILDplus supports BILD’s circulation and combines the online and offline worlds

BILDplus sells newspapers

Dec. 11, 2013

BILDplus supports BILD’s circulation and combines the online and offline worlds


BILDplus sells newspapers

Day pass on page three of every paper

BILD newspaper gives access to BILDplus

Dec. 11, 2013

The print innovation: With the new inkjet technology BILD individualizes every single copy


Individualizedday pass forBILDplus

Individualizedwinning code foradvertising clients

Lottery: individualizedillustrations forsweepstakes and games

Dec. 11, 2013

BILDplus customers can opt for “BUNDESLIGA bei BILD”, which launched in August 2013


„BUNDESLIGA bei BILD“

++

++

++€ 14.99 p. month

€ 9.99p. month

€ 4.99p. month

€ 2.99 p. month

Dec. 11, 2013

On all channels: “BUNDESLIGA bei BILD”


Print

Integration BILD.de Tablet-App

Integration BILD Smartphone App & BILD.de mobile portal

Smart TVBILD.de Online

Bundesliga Smartphone-App

Dec. 11, 2013


O

Dec. 11, 2013


How did it start?

Dec. 11, 2013


Offerpage

LoginPayment

Thank you

Checkout

Dec. 11, 2013

Proof of concept 1: Our technology is working smoothly

Proof of concept 2: Editorial content triggers BILDplus sign ups


Since Launch 76% of sign ups were triggered by content (Web/Wap)

Source: BILD Internal analysis

Proof of concept 3: Following the introduction of BILDplus, BILD.de’s reach is stable

44

September

14.213.2

August

14.2

12.9

July

13.712.9

June

14.013.0

May

14.2

13.0

April

13.712.7

March

12.313.1

February

12.3

13.5

20132012


Source: AGOF

Unique User in m

Introduction of BILDplus on June 11th

Dec. 11, 2013

45 Dec. 11, 2013

Proof of concept 4: …


…before BILDplus we did not know who our readers were…

Now we know our clients and we keep them

46 Dec. 11, 2013 BILD – From a daily paper to the daily companion in everyone's life

Source: BILD Digital BI

47

152,493 fully paying subscribers after 6 months

THE ultimate proof of concept: The numbers!


Web, mobile, app, subscribers / bundles Deutsche Telekom AG & Vodafone, no trial users

Subscribers in thousand

June August September November December 5thOctober

152

140

118

86

46

Dec. 11, 2013

UniqueUsers2

8.2m

DigitalSubcriptions

Compared to international paid content best practices, BILDplus hit a strong start

48

Digital reach at start of paid content model Number of digital subscriptions after the first 6 months

DigitalSubcriptions4

UniqueVisitors3

43.9m

DigitalSubcriptions6

UniqueVisitors5

6.4m

324k50k47k

UniqueUsers1

14.0m

DigitalSubscriptions

152k

Jun 2013 Dec 2012 Feb 2011 May 2010

Dec. 11, 2013

1.1 %

0.6 % 0.7 % 0.8 %

1) AGOF, June 2013; 2) AGOF, December 2012; 3) Comscore February 2011, received from Poynter, published 01/25/2012; 4) Digital Subscriptions received from New York Times Online, published 10/21/2011 5) Comscore, May 2010, received from Techcrunch, published 11/02/2010; 6) Digital Subscriptions, received from paidContent, published 11/02/2010



We met and even outperformed market expectations

1) Interview with media expert and CEO of Kircher & Robrecht, Marco Olavarria, August 8th, 2013 | 2) Werben & Verkaufen, 41/2013, Hoffen auf den Erfolg von Springer‘s Paywall | 3) Kirchner + Robrecht GmbH management consultants, August 2013

W&V„If one to two percent of the users paid, it would work. In the case of BILDplus, this would roughly be 100 – 200 thousand paying subscribers.“ 2

We have met our goals


Establishing a payment culture for editorial content online and shifting the “free” paradigm of the internet

Retaining BILD’s leading position across all platforms

Establishing a BILD brand subscription; supporting BILD’s total circulation

ObjectivesBILDplus

Replicating second revenue stream as in the offline world

Dec. 11, 2013

Goals for next year


Continuing the establishment of paid content online

2014

Maintaining market leadership on all channels

Growing video reach

Strengthening innovation leadership

Dec. 11, 2013

4

Trends and potentials in advertising

Peter Würtenberger, Chief Marketing Officer Axel Springer

Capital Markets Day, December 11, 2013, Berlin

Agenda

Dec. 11, 2013 Changes and trends in advertising2

1. Experiences and learnings from the Silicon Valley

2. Highlights 2013 and Outlook 2014

3. Top market positions


The Silicon Valley‘s ecosystem


StanfordUniversity

InternationalTalents

Venture Capital

Start Ups

Top learnings from the Silicon Valley


CULTURAL LEARNINGS

TechnologyEntrepreneurshipAttitude towards failuresSharing IdeasSpeed to Market

Employee motivationMix, match & reassemblePhysical proximity despite digitizationSimplicity and usability Think big, scale big

Top trends from the Silicon Valley


BIG TRENDS

Mobile + Social taking overContributor Journalism Content AggregationOnline-Offline IntegrationSharing Economy

Internet of ThingsMobile PaymentsBig Data MonetizationEducation TechnologyWorking in the cloud / SaaS

Project Outcomes


Joint venture for Axel Springer Plug and Play Accelerator

Start up wave within Axel Springer

Google commercial deal

Cultural change within Axel Springer

Digital knowhow transfer across all business lines

Continuation of the Silicon Valley Fellowship Program

Investment in Pixlee

Management Summit in the Silicon Valley

Alliance with Stanford University

Agenda





Marketing Highlights 2013


“BILD zur Wahl”Election Special

Distribution to more than 40 million households one day before the elections

Augmented RealityNew Newspaper Experience

DIE WELT „came alive“ on 06/09/13 as first daily newspaper to use augmented reality

BILD BundesligaNon-Stop Football

Bundesliga 24 hours a day – available online, mobile, tablet, smart TV and print

Already 40 minutes after the final whistle

Strategic multimedia co-operation

360° success story for SEAT


Digital advertising trends at Axel Springer Media Impact 2014


Native AdvertisingMobile Advertising

Real Time BiddingVideo Advertising Social Advertising

Growing mobile ad market



Higher advertising prices through premium approach and content expertiseBetter user experience and greater engagement with advertisement

Source: BI Intelligence, 2013

New revenue streams with native advertising

Maximum monetization of ASMI’s video inventory

Strategic video development 2014Cross Device Rotation:

Mobile, tablet and smart TV target groups aremerged and generate attractive reachClips can be played out across all terminalsAdditional reach of desirable target groups

Cross device reach: 19.4 mio. views/month*Online: Ø 14.5 m views/monthMobile: Ø 3.1 m views/month SmartTV: Ø 1.8 m views/month

New advertising formats in 2014 in order to meetgrowing demand for video advertising

Increased reach and more video inventory throughOrganic growth across Axel Springer portfolioCo-operations / third party marketing


100%

80%

60%

40%

20%

0%Jul 13May 13Mar 13Jan.13 Sep 13

utilizednot utilized

*Source: Own specification, smartAd Server, online inventory

Growing revenue with social advertising


Social Native CAGR: 22.9% Social Display CAGR: 16.1%

Growth of social ad revenue in US (in US$ billions)* Axel Springer social media: > 1.5 million Facebook fans

10

6

8

0

4

2

18.8%

2.4

2012

3

1.6

8.4

9.7

7.2

11.0

6.1

4.6

2017

6.4

4.6

2016

5.7

4

2015

5

3.4

2014

4.3

2.9

2013

3.7

Social DisplayNative Display

*Source: BIA/Kelsey, 04/2013

Real Time Bidding: Google commercial deal

Co-operation to establish programmatic ad selling at Axel Springer Media Impact (starting 2014)

Advertisers can bid on Google's AdExchange on standard ad formats of ASMI portals (web and mobile)

Real-time-auctions address additional customers and can beat directly sold ASMI long-tail campaigns if CPM is higher

Premium advertising spaces and special formats will only and exclusively be sold by ASMI


Share of RTB-based revenue in total display revenue*

In %

Google AdExchange co-operation:

*Source: IDC, Real-Time Bidding in the U.S. and Western Europe 2011-2016; Oct. 2012.

Agenda





ASMI has increased it‘s share in the overall set of print, reaching 1 billion € gross*


* Source: Nielsen Media Research, Jan-Dec. 2012**Source: Nielsen Media Research, Jan.-Oct. 2013

ASMI‘s print share**

(incl. MVG/Marquard)

Newspapers Magazines


*Source: Nielsen Media Research (excl. media advertising), incl. “BILD für ALLE” 2012 / ”BILD zur Wahl” 2013, Jan.-Oct. 2013, in %

ASMI has increased it‘s share in the relevant set of print *

+1.5%+3.1% +1.5%+3.1%

ASMI‘s top positions in digital


* Source: AGOF internet facts 2013-09, time-lapse: Single month**Source: AGOFmobile facts 2013-II

AGOF Online Marketers Ranking (Unique Users in millions)* AGOF Mobile Marketers Ranking (Unique Users in millions)**


“BILD zur WM” – Top Facts:

BILD will get Germany ready for the biggest sports and media event of the year

Free circulation to more than 40 million households

BILD reaches everybody, everywhere!

Must-havespecial edition

distributed to allGerman households

shortly before thefirst game!

The biggest media highlight in 2014

5

Broadening the Scope and Building on Market Leadership in DigitalCapital Markets Day – Berlin, December 11, 2013

Dr Jens Müffelmann, Head of Electronic Media

11.12.2013 | Broadening the Scope and Building on Market Leadership in Digital2

AGENDA

Overview Digital Media

Classifieds

1

4

Broadening the Scope “Early Stage“

Building on Leadership“Later Stage”32

StepStoneRalf Baumann

SeLogerRoland Tripard5 6

idealoDr Albrecht von Sonntag

kaufDAChristian Gaiser7 8


AGENDA


Classifieds

1

4








“With regard to electronic media, Springer is completelyunderdeveloped.”

“... the chaoticweb-sandbox ofSpringer...”

“Europe‘s largest press conglomerate – a mere internet midget. At least they have a strategy now.“

May 1999 May 2000 October 2000

4 Capital Markets Day 2013 4

Axel Springer about a decade ago

4 11.12.2013 | Broadening the Scope and Building on Market Leadership in Digital


“Axel Springer’s become a bright spot in a European media landscape ...”

Axel Springer today

April 2013

5 Capital Markets Day 2013 5

„Springer achieves record with digital media.“

March 2013 August 2013

“Springer’s route isradical, no doubt. But it’s also the right one.”

5 11.12.2013 | Broadening the Scope and Building on Market Leadership in Digital


Digital reach today

Source: comScore top 100 properties Europe, Oct 2013

European media peersunique visitors in m

18.3

20.4

23.0

26.1

26.8

29.6

35.3

50.2

97.5


Source: comScore top 100 properties Europe, Oct 2013 compared to Oct 2012

Growth

Digital reach compared to 2012

European media peersunique visitors in m

+7%

-16%

+2%

+14%

-2%

-4%

-1%

+8%

+21%+ 16.7

+ 3.7

- 0.4

- 1.2

- 0.6

+ 3.2

- 3.8

+ 0.5

+ 1.2

11.12.2013 | Broadening the Scope and Building on Market Leadership in Digital

Digital Media: top-line / bottom-line

88

Revenue in €m EBITDA in €m

Consolidated figures, 2006-2012 based on Annual Reports, 9M 2012-2013 based on Q3 Reports

24

208

378470

712

962

1,174

823

960

2006 2007 2008 2009 2010 2011 2012 20129M

20139M

114 21

43

86

158

243

166

197

2006 2007 2008 2009 2010 2011 2012 20129M

20139M

8

9M 9M


AGENDA


Classifieds

1

4








Digital media focus

10

Building on Leadership

„Early Stage“ “Later Stage”

Broadening the Scope


Digital media focus

Build

Acquire

Partner

A

B

C

Broadening the Scope Building on Leadership

“Later Stage”

Early stageinitiativessince 2012


BILDplusPremium content

Building new business modelsExamples

A

GermanBundesliga

Shopping app for high street

User generated photo & advertising app

Marketplace for interiors & design

Second screen Social TV platform

online travel guide in cooperation with


Acquiring early stage (example Runtastic)

13

Each app available as free and pro version. Cumulated total number of downloadsAppstore ranking: category “Health & Fitness”, source appannie.com, average ranking 1.9.2013 - 1.12.2013; (by grossing, Runtastic pro)

B

Portfolio of >30 mobile apps

Trackingrunning, cycling, winter sports etc.

Fitnesstripmeter, push-ups, sit-ups etc.

Otherspulse meters, timer etc. Apple AppStore

>3,000xdistance

earth to moontracked

>50mApp

downloads


Partnering with Silicon Valley Accelerator

Batch IIBatch I

Pageslive on

Earnings Conversions

C


Partnering with company builder / Otto Group

E-Commerce Ad Tech Mobile Web Security

15

C

App index Browser security Facebook ad management Targeting as SaaS model

Online shop software Car parts price comparison B2B meta yellow pages Realtime advertising

Online shop tires Dietary supplements Art trading platform Club for wine shopping


AGENDA


Classifieds

1

4








Pushing for market leadership

Market position in acquisition year

2009:

2007:

(DE)

2009:

2006:

(UK)

(Europe)

(DE) #5#2#3#2

(DE) 2010: #3

Market position 2013


Creating synergies through our network EXAMPLES

With corporate entities

Among portfolio entities

Corporate servicesDiscounted media campaigns Shared content, traffic & sales

…

Jobs classifieds integration

Prospectus integration

Real-estate classifieds integration

Performance marketing

Financial IT Systems

Legal, tax, M&A Marketing

Procurement HR

… ……

Axel Springer Russia

Axel Springer Switzerland

18

Accommodation listings integration

Real-estate classifieds integration


Strong post-acquisition development

19

+14%MarketCAGR since 2006

RevenueØ CAGR since acquisition date +22%

+33%EBITDA Ø CAGR since acquisition date

Top 10 digital acquisitions 2006-2012, based on revenue

Market growth: weighted market CAGR 2006-2013 based on ZenithOptimedia, PwC and HDE Revenue and EBITDA growth: CAGR since acquisition date incl. fully operationally integrated add-on acquisitions on a pro-forma basis


2013: slower growth

20

Growth 9M/13 y-o-y

Market growth: ZenithOptimediaRevenue and EBITDA growth: acquisitions on a pro-forma basis

Revenue +10%

+11%EBITDA

<10%Market


Financial web applications

Finance portal

Infotainment portalWomen portal

Product comparison

Performance marketing

Job portal

Portfolio of majority owned market leaders

Real-estate portal

2121

Recruitment portal Real-estate marketplace Content / classifieds portal Job portal for hospitality

Online brochures

Soccer community

Price comparison

Job portal


AGENDA


Classifieds

1

4








Setting up classifieds

Axel Springer Digital Classifieds GmbH

30% 70%


Expanding classifieds

Axel Springer Digital Classifieds GmbH

30% 70%

11.3%


Classifieds: top-line / bottom-line

25

Consolidated figures for Axel Springer Digital Classifieds

19

68

136

102

121

2010 2011 2012 20129M

20139M

108

222

330

235

296

2010 2011 2012 20129M

20139M

Revenue in €m EBITDA in €m

9M 9M


AGENDA


Classifieds

1

4







6

www.stepstone.com

Ralf BaumannCEO StepStone11th December 2013

StepStoneExpanding Market Positions

www.stepstone.com 22

Agenda

StepStone’s market positions

Drivers of our market place

Candidate delivery

Direct search in online recruitment


~5%of sales

~1%of sales

Leading online jobboard

1,200+ employees

StepStone

Totaljobs Group

Saongroup (closing Nov ’14)

YOURCAREERGROUP (closing Jan ’14)

90%+ revenue from #1 positions

24 countries,#1 in 19

94% of sales


Totaljobs Group

Totaljobs Group contributes significantly to StepStone’s growth after successful integration

Steady growth and increased profitability

Successfully replaced corporate/ admin IT systems

Future focus on direct customers


YOURCAREERGROUP

Stepstone strengthens German market position with acquisition of YOURCAREERGROUP

Highlights

Source: anzeigendaten.de, monthly average Jan-Sep 2013. meinestadt.de: N° of paid listings.

Number of listings (in thousands)

40.1

31.3

14.7

12.2

8.6

6.1

5.1

4.7

4.2

StepS

Monster

CareerB

HOTELC

Xing

meinestadt.de

JobSc

Stell

Jobware

Specialist portal

Generalist portals

Leading job board in the hotel/restaurant/catering sector in Germany, Switzerland and Austria

No customer overlap with StepStone

Good fit with caterer.com and catererglobal.com (part of TJG)

500,000 unique visitors per month

Transaction effective as of January 1st,2014


Saongroup

StepStone broadens international footprint with acquisition of Saongroup

StepStone continues its growthstrategy

Acquisition of 100%(excluding Saon China & SaonMyanmar)

HighlightsCompany profile

Strong portfolio of online job boardsin 16 countries in Europe, Africa, Central America

#1 positions in Ireland, Northern Ireland, South Africa (accounting for80%+ sales)

No geographic overlap in core countries

Headquartered in Dublin, Ireland; founded in 1999, > 300 employees(group)


StepStone Group’s Portfolio

StepStone Group – a portfolio of market leaders

UK, IrelandGermany

Belgium South Africa

Europe: Austria, France, Denmark, Sweden , Netherlands

Central America: El Salvador, Panama, Guatemala, Honduras, Costa Rica, Jamaica, Cayman, Trinidad

Africa: Mauritius, Kenya

#1

#1 #1 #1

Other countries


Revenue Growth Benchmarks H1-2013

StepStone maintains organic growth above most market peers

Europe-40% to -5%

APAC-10% to +10%

US + Americas-5% to +15%

+5%H1-2013 YoY

Note: StepStone Group pro-forma adjusted for FX-differences; excludes recent acquisitions (YOURCAREERGROUP, Saongroup)Source: WARC, FDIM, Company Reports


Drivers of our market place

StepStone serves and optimises the market place technology

Customer

Job and Career

Seekers

Job and Career

Seekers

Job and Career

Seekers

Companies’ demandCandidate delivery

Users’ demandLarge number of qualified jobs/listingsLarge number of active recruiters on the direct search platform

JobboardBest in class matching technologyUsable on all platforms (PC, Mobile)


StepStone’s focus areas

Social Media

Passivecandidates

Activecandidates

LinkedIn

TwitterXing

MobileFacebook

Employerbranding


StepStone’s core deliverable

Delivery of quality

candidates!


StepStone Candidate Delivery

StepStone.de’s lead over competitors is widening

13.6

3.0

6.7

7.1

1.8

Competitor

15.6

3.3

5.1

6.0

2.2

x 1.9

x 2.0

x 4.6

x 7.5

x 2.6

x 3.1

x 4.7

x 7.1

Source: TNS 2012, n=746; poll period: April-June 2012; survey of 80,299 recruiters who inserted job ads during this period; TNS 2013: n=4,169

Competitor

Competitor

Competitor

Competitor

Competitor

Competitor

Competitor

Applications per job ad in 2012 Applications per job ad in 2013


Website Conversion

Marketing attracts user’s to the site, conversion mechanisms ensure users are channelled to the right listings

CAGR +3%

201320122011 2013

108

2012

102

2011

100

+4%

+9%

2013

118

2012

113

2011

100

+8%

201320122011 2012

+17%

20132011

Unique UsersIndex

Visits per Unique Index

VisitsIndex

Listing Views per Visit Index

Listing Views IndexX = X =

100

120

140

160

80

Drive more users to the site

Users return more often

Users view more listings

Listings receive more views

Website receives more visits

Source: Site Catalyst (StepStone), based on Aug-YTD values


StepStone’s product portfolio

StepStone is able to sell a complete online recruitment product suite

Standard, Individual, Plus

International Job Advertising

Banner Advertising

Newsletter & Job Agent

Company Portrait

DirectSearch Database

DirectSearch Direct Mail

Job Ads

StepStone FOLLOW AD

DirectSearch Mobile App

DirectPush (Keyshots)

Employer Branding Direct Search

1 to many Selected target group 1 to 1


Importance of direct search

Importance of direct search in recruitment varies across countries with almost no changes over time

US35%

Germany~5%

Direct search currently accounts for less than 5% of StepStone’s revenue


StepStone Direct Search

StepStone’s new direct search products

Old Search Interface New Search Interface Mobile App

„The new StepStone Direct Search Database offers a very simple and intuitive usabilityapproach right from the first moment. Entered terms are anticipated by the engine andautomatic suggestions are extremely helpful to identify well suited talent quickly. It’s agreat solution, which allows us to expand the recruitment process to a wideraudience and leverage the true potential of our Active Sourcing teams. For us, the DirectSearch Database means more satisfaction among our colleagues and higher successrates in hiring“Martin Moll, HR Senior Recruitment Consultant EMEA, SAP AG


StepStone’s opportunities

Capitalising on…

superior candidate delivery

strong market positions

improved direct search products

economic growth

7

Fit for future growth

Roland Tripard, CEOCapital Markets Day

Berlin, December 11th, 2013

The leading online specialist for Real Estate

The entry door for every real estate project of every French household

New builds Land plotHouse to build

High endproperty

OfficeStoreWarehouse

Or evenA vacation home

For saleFor rent

2

Despite the worst possible market conditions…

Source : Commissariat Général au Développement DurableSources projections 2013 : Commissariat Général au Développement Durable, Union des Maisons Françaises, FNAIM

104.28888.099

71.000

0

20.000

40.000

60.000

80.000

100.000

120.000

2011 2012 2013

New Home Sales

-16%-19%

146.160126.000

106.000

0

20.000

40.000

60.000

80.000

100.000

120.000

140.000

160.000

2011 2012 2013

Individual Home Buildings

-16%-14%

805.000707.000

635.000

0

100.000

200.000

300.000

400.000

500.000

600.000

700.000

800.000

900.000

2011 2012 2013

Resales

-10%-12%

3

Evolution of the number of yearly transactions in the last 3 years

1.055.448921.099 812.000

0

200.000

400.000

600.000

800.000

1.000.000

1.200.000

2011 2012 2013

Total

-12%-13%

… 2013 growth is stronger than in 2009

2013 growth will be well ahead of 2009’s, both in revenue and in ebitda

4

Group revenue growth Ebitda margin (in % of revenue)

3%

2009 2013 ytd

56%

2009 2013 ytd

Traffic keeps growing &becoming more efficient

Source : SL Omniture Unit: ‘000 5

2 100 000

2 200 000

2 300 000

2 400 000

2 500 000

2 600 000

2 700 000

2 800 000

YTD2012 YTD2013

PagesViewed

168 000170 000172 000174 000176 000178 000180 000182 000184 000186 000188 000

YTD2012 YTD2013

Visits

+7% +14%

10 000

12 000

14 000

16 000

18 000

20 000

22 000

YTD2012 YTD2013

Leads

+26%

0

10 000

20 000

30 000

40 000

50 000

60 000

70 000

YTD2012 YTD2013

Mobile trafficMobile site visits Apps visits

500

550

600

650

700

750

800

850

YTD2012 YTD2013

AppsDownloads

+12%+22%

Active alerts

+22%

1.8 million YTD2013

Alerts sent

+47%

699 million YTD2013

yoy

yoy

Jan-Oct 2012

Jan-Oct 2012

Jan-Oct 2012 Jan-Oct 2012

Jan-Oct 2012

Jan-Oct 2013 Jan-Oct 2013

Jan-Oct 2013

Jan-Oct 2013

Jan-Oct 2013

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Penetration rate is at 85%

Penetration rate among real estate agencies (%)

Enabling customer recruitment…

85%

6

…and solid ARPU growth

7

Note: ARPU figures include revenues from Seloger.com, excludes verticals.

Three drivers for ARPU growth

8

Pricing &

Note: ARPU figures include revenues from both SeLoger and vertical portals.

Growth in verticals also stemsfrom new customer target groups

9

Fast development of business with new customer groups,specifically property developers, house builders and commercial brokers has been instrumental in growing our revenue from « vertical » portals

FO

RE

CA

ST

12%

30%

35% 35%

24%

2009 2010 2011 2012 2013 ytd

Revenue growthof vertical portals

(yoy)

Source : Commissariat Général au Développement Durable + INSEE

Market conditions should now slowly improve

60

70

80

90

100

110

120

Dec

-00

Mar

-01

Jun-

01S

ep-0

1D

ec-0

1M

ar-0

2Ju

n-02

Sep

-02

Dec

-02

Mar

-03

Jun-

03S

ep-0

3D

ec-0

3M

ar-0

4Ju

n-04

Sep

-04

Dec

-04

Mar

-05

Jun-

05S

ep-0

5D

ec-0

5M

ar-0

6Ju

n-06

Sep

-06

Dec

-06

Mar

-07

Jun-

07S

ep-0

7D

ec-0

7M

ar-0

8Ju

n-08

Sep

-08

Dec

-08

Mar

-09

Jun-

09S

ep-0

9D

ec-0

9M

ar-1

0Ju

n-10

Sep

-10

Dec

-10

Mar

-11

Jun-

11S

ep-1

1D

ec-1

1M

ar-1

2Ju

n-12

Sep

-12

Dec

-12

Mar

-13

Jun-

13LTM Existing Homes Sales and France's Metropolitan

Population(Base 100 = December 2000)

LTM Existing Homes Sales France's Metropolitan Population

10

Making a fertile ground forall our initiatives…

New mobile services

New consumer centric services

New data-based services

New business models

e-CRM (consumer profiles)e-mailing

RetargetingDYNAMIC WEB PAGES

Lead qualificationPrice evaluation PRO-ACTIVE MATCHING

Lead scoring

Private salesOnline bookinge-commerce

11

…made possible by our new organization

12

• Reinforced management team

• Reinforced IT & products teams

• Operational synergies with sister companies

8

11.12.2013 idealo: past, present & future 1

idealo: past, present & futurepresented by Dr. Albrecht von Sonntag

idealo - past

idealo was founded in Berlin with- EUR 150K equity and EUR 350k loan,- 12 employees and one soccer table.

And: No market. Even no Google.


2000

idealo - past

idealo still in Berlin, but

- no money,- only 2 employees left, paid by reimbursement of prepaid taxes,- about to file for insolvency,- development of our successful SEO-strategy:

„Building the best product for the user AND

tell the search engines about it.“


2001

idealo - past

The dark years formed the DNA of idealo:

creativity,efficiency,frugality,

loyalty&

sustainability.


idealo - past & present


2 12 35 5286 102 106

141172

234

318

411454

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

clicks

FTE

Jul01

Nov01

Mrz02

Jul02

Nov02

Mrz03

Jul03

Nov03

Mrz04

Jul04

Nov04

Mrz05

Jul05

Nov05

Mrz06

Jul06

Nov06

Mrz07

Jul07

Nov07

Mrz08

Jul08

Nov08

Mrz09

Jul09

Nov09

Mrz10

Jul10

Nov10

Mrz11

Jul11

Nov11

Mrz12

Jul12

Nov12

Mrz13

Jul13

Nov13

2001 – 2013



Milestones

Foundation of idealo internetGmbH, amongst others byMartin Sinner, Christian Habermehl and Albrecht von Sonntag

A first milestone is reached: idealo.de goes live

idealo reaches break-even

The Austrian price comparisonidealo.at goes online

idealo starts a price comparisonfor flights at flug.idealo.de

Axel Springer becomes a shareholder

idealo grows significantly andstrengthens its international position with idealo.co.uk

Launch of idealo.fr

Idealo.it enables Italian users accessto the best prices

idealo becomes mobile andstarts the idealo pricecomparison app

idealo.es und shortly thereafteridealo.pl go online

User can now also find thecheapest flights on the go via the idealo flight app

Attractive rates for hotels cannow be found on hotel.idealo.de

Germany’s #1 price comparison platform

Continuous success since joining of AxelStrong market traction

Comscore: Growth of unique visitors, selection of competitors (Top 3 in H1 2013); financials incl. acquisitions

7 Capital Markets Day 2013 11.12.2013 idealo: past, present & future 7


20%

60%

100%

140%

180%

Aug 12 Dec 12 Apr 13 Aug 13

+2%

+2%

+26%

-42%

-29%

2006 2013

10x

2006 2013

10x

idealo - present


idealo - present


Product page

idealo - present


Product page apparel

idealo - present


idealo - future

Go the „idealo“ way.

„idealo“ is esperanto1) for „ideal“

The name stands for our two main strategies:

1. The ideal purchase,2. Internationalisation.

And: striving to form an ideal company.


1) Esperanto is the most widely spoken constructed international auxiliary language

9

BUILDING A GLOBAL MARKET LEADERIN „RESEARCH ONLINE – BUY OFFLINE“AXEL SPRINGER CAPITAL MARKETS DAYCHRISTIAN GAISER, FOUNDER & CEO

Local Shopping Information Used To Be Like This

A$35 billion

strong global print industry.Source: Industry Reports

Axel Springer Capital Markets Day 20132

Our Approach: Local Shopping Made Easy

Browse. Discover. Search. Set alerts.The easy tool to plan your local shopping and never miss the best offers.

>12m users globally & >6bn flyer openingsTrusted Partner for many of the world‘s biggest retailers


Our Product At A Glance


Set alerts for yourfavorite categories

or products

Browse through alllocal circulars

Search & Discoverattractive deals in

a circular

Look for the nextstores around you

Simple & Scalable Business Model

Retailers:

kaufDA extends valuable content online

Advertisers only pay for clicked active consumer interest:

Cost perEngagement


Born In Germany As A Unique Innovation,Now Rapidly Expanding On A Global Scale

1 3 5 7 9 11 13 15 17 19 21 23 25

visits DE visits FR visits RUvisits ES visits BR

Weeks since launch

Traffic growth indexed vs internet usage

Expansion into most relevant retail ad markets

kaufDA launched in late 2008 as a unique idea

From late 2011 on, fast rollout in defined markets

France, Russia, Spain, Brazil and most recently the UnitedStates as target markets

Focus on entering further relevant retail advertisingmarkets

Bonial – Our French businessas a successful example

Launch in 12/2011

Now more than >2m monthly users

Trusted partner for already 50% of the top French retailers


Mobile Pushing Growth For Our Business

kaufDA(Germany)LaunchedDec‘08

Lokata(Russia)LaunchedApril‘12

Bonial(France)LaunchedDec‘11

Ofertia!(Spain)

LaunchedApril‘12

Guiato(Brazil)

LaunchedJuly‘12

Reached #1 in the AppStore of Each Country

2012 2013

App downloads Germany; EBITDA: GER, FR (excl. ES, RUS, BRA); Mobile share inflyer openings Germany

2012 2013

Accelerating growth / profitability

20%

30%

40%

50%

60%

70%

80%

Mobile share in flyer openings

1/2011 10/2013


Over 20 major retail launch partners including playerslike Target, KOHL’s, Toys R Us

New retail partners added weekly:>40 retail partners live after 6 weeks since launch

US market size for circulars (>15bn USD) exceedsEuropean market

Experienced leadership team (former VP MarketingSears Holding + former Sales Director Chicago Tribune)

Headquartered in Chicago

RETALE™National launch in the U.S. on Oct 28th 2013

US Market Entry To Capture The Biggest PotentialShowing Strong Early Stage Momentum

Top ranking positions shortly after launch

“kaufDA has been singled out asGermany’s ‘Star of Location BasedServices’ because of its market dominancein local promotions, much of it deliveredby mobile.”

“Five years ago, the Berlin companystarted to bring the circular into the web.Now it enters the United States – and thusreturns back to its roots.”


10

Group Financials and Cost ManagementCapital Markets Day

Dr. Julian Deutz, designated CFO as of April 2014

Berlin, December 11, 2013

Axel Springer 2013: Sound value proposition

Dec. 11, 2013 Group Financials and Cost Management2

Group Financials: Successful digital transformation underway1

Further value unlocked through deal with FUNKE MEDIENGRUPPE (FMG)1)2

Continuous cost management ensures high efficiency of remaining print business3

1) Subject to closing

Solid group financials

Dec. 11, 20133

Revenues slightly above prioryear level

EBITDA down by 7.0% in 9M/13 mainly due to higherrestructuring and launch costsand share-based compensationprogramsMargin

Revenues

CirculationAdvertisingOther

EBITDA

9M/13

2,443.1

833.71,330.4

279.0427.0

17.5%

1.93

41.721.7

490.4

20.1%

yoy

+1.5%-5.2%+6.6%-0.6%-32.3

-1.6pp

-12.7%

+17.4+8.3-6.7

-0.6ppMargin

EBITDA excl. Restructuring/LC

Restructuring expensesLaunch costs (LC)

1 Axel Springer group financials (in €m)

Group Financials and Cost Management

Adjusted eps1)

1) Based on weighted average number of shares outstanding at September 30, 2013

Revenues and earnings development reflectscompany transformation in 2013

Dec. 11, 20134

1 Axel Springer segment overview (in €m)


9M/ 2013

YoY9M/

2013YoY

9M/ 2013

YoY9M/

2013YoY

9M/ 2013

YoY

Revenues 959.8 16.6% 781.7 -6.6% 331.0 -2.4% 286.7 -10.4% 83.9 -5.5%

EBITDA 196.6 30.7 156.1 -41.2 75.3 4.2 36.0 -5.1 -36.9 -20.9

Margin 20.5% 0.3pp 20.0% -3.6pp 22.7% 1.8pp 12.5% -0.3pp

EBITDA excl. Restructuring /LC 217.2 40.6 180.1 -29.1 78.3 -2.4 39.1 -5.6 -24.4 -10.2

Margin 22.6% 1.2pp 23.0% -2.0pp 23.7% -0.2pp 13.6% -0.3pp

Newspapers National

Magazines National

Print International

Digital MediaServices/ Holding

5

12/31/12

-449.6

Leverage of 0.5x as of October 31, 2013 Self-imposed maximum leverage of 1.5-2.0x EBITDA leaves sufficient headroom

Leverage: sufficient headroom

Volume of €900mMaturity in 2017Initial margin below 50 bps

10/31/13

-296.7

Credit line

Volume of €500mMaturity in 2016/2018Favorable fixed interest rates for 64% of the volume

Promissory note2)

Dec. 11, 2013

1) Excl. pension liabilities (31.12.2012: -€344m; 30.09.2013: -€344m) and treasury shares (31.12.2012: 0.2m shares; 30.09.2013: 0.0m shares) 2) Schuldscheindarlehen

Net debt1) (in €m)

Comfortable financial situation with significant headroom for further growth

1


Transaction with FMG unlocks value in German print assets1)

Dec. 11, 20136

2 Overview FMG-Transaction

Digital

Classifieds

PerformanceMarketing

Content

Print

Newspapers (Nat.)

National (BILD/ WELT)Regional2)

Women2)

TV-Guides2)

Cars/Sports/PC

Magazines (Nat.)

Transaction AS/FMG

Joint Venture

Ad Sales Retail distribution1) Subject to closing2) Incl. digital offerings


International

Attractive multiple shows the value of our brands

Dec. 11, 20137

2 Key Financials

EBITDA 2012: €95mRevenue 2012: €512mEBITDA 2012: €95mRevenue 2012: €512m

Assets to be soldAssets to be sold

€920m (cash/debt free) €920m (cash/debt free) Purchase pricePurchase price

€660m by FMG€660m by FMGCash paymentCash payment

€260m€260mVendor loanVendor loan

~ €260m on full purchase price~ €260m on full purchase priceTax payment (expected)Tax payment (expected)


Signing to be expected within the next two weeks

Dec. 11, 20138

2 FMG transaction timeline going forward

July 25, 2013 Legally binding preliminary agreementJuly 25, 2013 Legally binding preliminary agreement

December 2013 Signing of final contractsDecember 2013 Signing of final contracts

January 1, 2014 Economically effectiveJanuary 1, 2014 Economically effective

H1 / 2014 Closing, €660m payment by FMGH1 / 2014 Closing, €660m payment by FMG

Year 5/6, after closing Repayment of vendor loan Year 5/6, after closing Repayment of vendor loan


H1 / 2014H1 / 2014 Cartel office decision for TV guides expected

Antitrust clearance for regional newspapers & womens´magazinesAntitrust clearance for regional newspapers & womens´magazinesDecember 3, 2013

FMG deal accelerates shift to digital

Dec. 11, 20139

2 Axel Springer key financials development excl. future FMG assets

Revenues Advertising Revenues EBITDA

9M/13

54%

46%

2008

86%

14%

9M/13

31%

69%

2008

78%

22%

9M/13

45%

55%

2008

96%

4%

Print Digital


Continuous cost management is an integral part of Axel Springer’s business agenda

Dec. 11, 201310

3 Axel Springer‘s integrated cost management approach

Benchmarking

Regular analysis ofeditorial, IT, productionand other costs

Benchmarking

Regular analysis ofeditorial, IT, productionand other costs

Programs

Set up of dedicatedproject teams and costsaving measures. Continuous monitoring

Programs

Set up of dedicatedproject teams and costsaving measures. Continuous monitoring

Active portfoliomanagement

All Axel Springer assets regularlyreviewed, continuousportfolio alignments

Active portfoliomanagement

All Axel Springer assets regularlyreviewed, continuousportfolio alignments

Controlling/Reporting

State of the art KPI based controlling toolsto enable closemonitoring

Controlling/Reporting

State of the art KPI based controlling toolsto enable closemonitoring

Managementincentives

Cost efficiency is a management objectivefor all Axel Springerexecutives

Managementincentives

Cost efficiency is a management objectivefor all Axel Springerexecutives


Prepress processes restructuring (integration of page planning)Printing plants HR management centralizationMachine staff reduction at all printing facilitiesContinuous reconsideration of paper qualities (esp. magazines)

Large variety of cost efficiency projects performed over all functions within national print activities

Dec. 11, 201311

3 Our print business: cost structure and cost management approach

IT support improvement (new specialists, improved process)

Pooling of BILD and B.Z. editorial departmentsSynergies in print and digital editorial departments increased

Improved focusing of marketing activities (e.g. POS)

Admin

Marketing

Editorial cost

Paper, Print, Delivery

~20%

~20%

~25%

30-40%

1) Excl. future FMG assets, projects, restructuring costs, non-recurring effects and income from investments

Cost structure1)

(in % of total costs) Projects / measures include…


Inside Berlin’s local newspapers: vast content overlaps

Dec. 11, 201312

3 Editorial examples


Significant cost efficiencies through integration of BILD Berlin and B.Z. local newspapers

Dec. 11, 201313

3 BILD Berlin and B.Z. integration highlights

„Berlin“ „National“

Berlin content

National content

Joint editorialteamContentsupply Content supply

Berlin content

National contentContent supply

„Joint forces“ on highlycompetitive local Berlin newspapermarket (40% topics overlapbetween BILD and B.Z.) whilekeeping both well establishedbrands

Integration of support andservice functions with other Axel Springer titles

Significant efficiencies in staffand administration costs


Printing facilities staff will be reduced by 44% until 2020

Dec. 11, 201314

3 FTE development printing plants

201820102008

-44%

201620142012 2020

Reduction achievedthrough

Streamlining ofprinting processesTwo-shift-productionMachine staffreductionAdaption to circulationdevelopment

Reduction achievedthrough

Streamlining ofprinting processesTwo-shift-productionMachine staffreductionAdaption to circulationdevelopment


A further €106m cost savings until 2016 in remaining national and international print activities

Dec. 11, 201315

3 Savings compared to cost basis 2011 (in €m)

122

9382

63

2016201520142013

Incl. future FMG assets Excl. future FMG assets

106

7869

52

2016201520142013


Dec. 11, 201316 Group Financials and Cost Management

Continuous cost management inherentin Axel Springer´s management culture

Cost savings program successfullyunderway

Print margins expected toremain on high level

Significant part of print revenue decline offset by cost reductions

11

Summary and outlookCapital Markets Day – Berlin, December 11, 2013

Dr Mathias Döpfner, Chairman & CEO

You can access the webcast of Mathias Döpfner’s speech on our website

www.axelspringer.com/cmd2013

2 Summary and outlook2 Dec. 11, 2013

Thank you for attending the Capital Markets Day 2013!

Claudia Thomé Head of Investor Relations

Phone: +49 30 2591 77421Mobile: +49 160 90445035

[email protected]

Axel Springer SE: Axel-Springer-Str. 65, 10888 Berlin, Germany, Fax: +49 30 2591 77422

Daniel Fard-Yazdani Co-Head of Investor Relations

Phone: +49 30 2591 77425Mobile: +49 151 52844459

[email protected]

Christoph Keese Executive Vice President

Phone: +49 30 2591 77800Mobile: +49 171 7614545

[email protected]

Date post:	08-May-2018
Category:	Documents
Upload:	donhu
View:	215 times
Download:	2 times

Berlin, December 11, 2013 - Axel Springer SE · Ø Age of User: 54. 7 Source: ... As a result,...

Documents