1. Healthcare

Listed and traded on the Indonesia Stock Exchange
STOCK CODE: MNCN
MNC Media
PT Media Nusantara Citra Tbk.
Corporate Update
January 2015
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2
Section 1
Indonesia’s Media Industry Update
Macro drivers support industry growth
Population (2012)
A Young Population : 80% - Below 50yr
What are the macro drivers?
3%
Millions
 A large & young population
13%
1,361
29%
1,223
 200mn people below age of 50
 A rising middle class
244
95
69
 Strong economic growth driven
29%
29
23
5
by domestic consumption
26%
0-14
Source: MPA 2013
30-49
50-69
Source: Indonesia Bureau of Statistics 2012
Completed Education Level
NA
22%
15-29
University
4%
Monthly Household Expenditure (Rp1,000)
E <600
5%
Academy
3%
D 601900
13%
A1 3500
6% A2 2501-
3500
9%
Senior High
29%
 Only 4% of population has
university degrees
 Indonesians prefer to watch TV
than to read, watching 5 hours
of TV per day.
C1 12511750
26%
Junior High
19%
Source: Indonesia Bureau of Statistics 2012
 40mn TV household
B 17512500
20%
C2 9011250
21%
Elementary
23%
70+
Source: Nielsen Media Research
4
Indonesia net ad spend growth highest in the region
 Media Partners Asia forecasts net ad spend growth of 15.5% in 2014
 Growth is among the highest in the region
 Indonesia’s ad spend is growing from a small base; we expect growth to be sustainable
Asia Pacific Net Adspend (2013 – 2014F)
Asia Pacific Net Adspend Growth (2013-2014F)
2013
2014F
In USD billion
2013
2014F
Source: Media Partners Asia 2013
5
Well Positioned in a Conducive Growth Environment
 Net ad spend as % of GDP is the lowest in the region indicating solid growth potential
 The price for a 30 seconds prime time spot is cheap compare to other ASEAN countries
Net Adspend as a Percentage of GDP (2013)
30 seconds prime time spot
In USD/spot
0.9%
$17,136
0.7% 0.7%
0.6%
0.6%
$10,800
0.5%
0.4%
0.4% 0.4%
0.3% 0.3% 0.3%
0.3%
0.2%
$5,400
Indonesia
Thailand
Philippines
Source: Media Partners Asia 2014
6
Industry Dynamics
 Prime time advertising slots are limited; strong demand for advertising
 Local brands have been aggressive in advertising to compete with multi national companies
 We expect automotive and financial companies to increase TV advertising budget
Limited supply: Only 10 FTA TV stations
Demand (More brands advertising on TV)
4%
18%
34%
15%
MNC Group
EMTEK
Trans Corp
Visi Media
Other
29%
Source: Nielsen Prime time all demographic December 2014
7
Low Penetration Rates in Key Segments
Asia Pacific TV Penetration of Total Households (2012-2014F)
100% 100%
100% 99%
100% 100%
100% 100%
96% 96%
99% 99%
97% 97%
97% 97%
93% 93%
85% 86%
82% 84%
61% 62%
58% 60%
2012
2014F
Korea
Japan
Singapore Hong Kong
Malaysia
Australia
Newspaper Circulation in Indonesia
6.0
Millions
China
Thailand
Taiwan
Vietnam
Philippines
India
Indonesia
Internet Household Penetration in Indonesia
6.0
30.2%
27.1%
5.9
23.7%
5.8
18.0%
20.5%
5.7
2010
2011
Source: Media Partners Asia
2012
2013
2014
2010
2011
2012
2013
2014
8
Indonesia’s Media Advertising Market Share
 Given the infrastructure constraint, TV is the only medium to reach a mass audience. TV
advertising is expected to maintain a dominant market share
 Online advertising to take market share from Newspaper and Magazine
2019F
2014
OOH, 2.2%
Radio, 1.3%
OOH, 2.0%
Online/Mobile,
7.3%
Radio, 1.1%
Online/Mobile,
10.5%
Magazines, 2.6%
Magazines, 2.4%
Newspapers,
20.4%
Newspapers,
18.2%
TV, 65.8%
TV, 65.5%
Source: Media Partners Asia
9
Section 3
MNC Update
The Largest Integrated Media Company in Southeast Asia
Free-To-Air TV
Content
Sindo Media
Others
News Portal
PAY TV Channels
Tabloid &
Magazine
Radio
More channels will be added
Content library contains more than
200,000 hours and increasing by
more than 15,000 hours per year
11
Our 4 Key Growth Drivers
RCTI, MNCTV, and Global TV grow
significantly outperforming the industry
19 exclusive channels on MNC Sky Vision
to generate ad revenue
SINDO TV to become a national network
with focus on news and infotainment
Integrated TV studios to be completed in
mid 2015 is set to reduce programming
and operation cost
12
Content is King
Creating the best content is our top priority

Content is the only way to capture audience share
and monetize advertising dollars

Indonesians love “Sinetrons” and we broadcast
many of the top drama series

We have licensed popular International programs
such as Master Chef, Indonesia Idol and X Factor

Exclusive programming with top Hollywood studios

More than 150,000 hours of content library and
increasing by more than 15,000 hours annually

We also have 20 MNC branded Pay TV Channels.
These channels are integral to our content strategy
“Content is where I expect much of the real money will be
made on the Internet, just as it was in broadcasting.
The television revolution that began half a century ago
spawned a number of industries, including the manufacturing of
TV sets, but the long-term winners were those who used the
medium to deliver information and entertainment.”
“Content is King” by Bill Gates in 1996
All-time Nielsen TV stations ranking
Rank
1
2
3
4
5
6
7
8
9
10
Station
RCTI
SCTV
ANTV
MNCTV
IVM
TRANS7
TRANS
GTV
TVONE
METRO
Target
Audience
ABC
ABCD
ABC
ABCD
ABCD
ABC
ABC
ABC
ABC
AB
Week I Jan
2015
Share
16,3
16,2
11,6
11,4
9,2
8
7,9
7,0
7,0
4,2
Source: Nielsen Monthly Prime Time All Demographic Audience Share
13
Strong recovery in Audience Share since June 2014
40
35
30
MNCN
EMTK
25
VIVA
TRANS
20
15
10
Jan-14
Feb-14
Mar-14
Source: Nielsen prime time audience share
Apr-14
May-14
Jun-14
Jul-14
Aug-14
Sep-14
Oct-14
Nov-14
Dec-14
Jan-15
14
RCTI’s Prime Time is back to No. 1
Launched of 7 Manusia
Harimau in Nov’14
24.0
22.0
20.0
18.0
RCTI
SCTV
16.0
Plot Twist on Main
Character and More
Innovative story line
14.0
12.0
10.0
Jan-14
Feb-14
Mar-14
Source: Nielsen prime time audience share
Apr-14
Mei-14
Jun-14
Jul-14
Agust-14
Sep-14
Okt-14
Nop-14
Des-14
Week I Jan
2015
15
MNC TV is Gaining Back Audience Share
15.0
14.0
Started airing Boboi
Boy in Oct 20th 2014
Adit & Sopo Jarwo Audience share
has increased drastically to 19.4%
since moving to early Prime-Time.
13.0
12.0
MNC TV
11.0
IVM
10.0
9.0
8.0
7.0
Apr-14
May-14
Source: Nielsen prime time audience share
Jun-14
Jul-14
Aug-14
Sep-14
Oct-14
Nov-14
Dec-14
Jan-15
16
Key Drama Series on RCTI
17
MNC Has The Best Talent Search Format Lineup
18
The most comprehensive Pay TV Channels line-up
 We have the most comprehensive Pay TV channel lineup in Indonesia
 Our customers prefer local content
 Producing content in Bahasa Indonesia is our competitive advantage
 We generate subscription revenue and advertising revenue
Sports
Movies
Lifestyle
News
Entertainment
Kids
Local content
means it is the leader in its Pay TV category
19
Top 20 Channels December 2014
NO.
CHANNEL
NO.
CHANNEL
1
Cartoon Network
11
History
2
3
Disney Junior
12
AXN
MNC Sports 2
13
MNC Comedy
4
Disney Channel
14
MNC Infotainment
5
MNC Shop
15
Vision 2 Drama
6
S-one
16
Cinemax
7
MNC Kids
17
Fox Crime
8
9
MNC Business
18
MNC Sports1
Fox Movies Premium
19
MNC Movie
10
Cbeebies
20
MNC Entertainment
Source: AGB Nielsen Report
20
Pay TV Channels to drive ad revenue for MNCN
OPPORTUNITIES



MNC Channels share of Pay TV audience in 2013
MNCN has produced and packaged 20 Pay TV
channels exclusively for MNC Sky Vision. In return
MNCN receives 100% ad revenue
MNC Sports, MNC Infotainment, MNC News and
MNC Business, MNC Music are # 1 ranked in their
respective categories versus International peers
MNC Food & Travel and MNC Kids was recently
launched. We will add 2 more channels: MNC Home
& Living and MNC Wedding
Rank Sports Channel
We expect MNC Channels to generate meaningful
advertising revenue as subscribers grow
28%
Rank News Channel
Channel Share
1 MNC Sports 2
4.65
1 MNC News
1.60
2 MNC Sports 1
3.21
2 Channel New Asia
0.04
3 Star Sports
1.17
3 CNN International
0.04
4 Euro Sports
0.45
4 AL Jazeera International
0.03
Rank Lifestyle Channel
Channel Share
1 MNC Infotainment
3.05
1 MNC Music
1.32
2 MNC Lifestyle
2.17
2 Channel V
0.40
3 Asian Food Channel
0.42
3 Trace
0.04
4 MNC Fashion
0.26
4 NGC Music
0.02
Rank Entertainment Channel

Channel Share
Channel Share
Rank Music Channel
Rank Business Channel
Channel Share
Channel Share
1 S-One
4.08
1 MNC Business
0.32
2 MNC Entertainment
3.19
2 Bloomberg
0.00
3 AXN
1.96
3 CNBC Asia
0.00
4 MNC Drama
1.88
Source : Nielsen TV Audience Measurement 2013
MNC Channels
Rest of market
72%
21
SINDOTV has full national coverage
Sabang
Banda Aceh
Lhokseumawe
Medan
Pematang Siantar
Tarakan
Batam
Pontianak
Pekan Baru
Payakumbuh
Bukit Tinggi
Padang
Samarinda
Bengkulu
Lubuk Linggau
Lampung
Pangkal
Pinang
Palangkaraya
Banjarmasin
Palembang
Jakarta
Cirebon
Semarang
Bandung
Tasikmalaya
Banyumas
Magelang
Manado
Gorontalo
Ternate
Manokwari
Palu
Biak
Mamuju
Pleihari
Makassar
Kendari
Nebire
Ambon
Merauke
Surabaya
Bali Mataram
Kupang
Total
: 46 stations
• MNC has just acquired a local Jakarta TV giving us full national coverage on SINDOTV
• The focus will be 24 hours news, entertainment and sports
22
Highly Qualified and Experienced Management Team
Hary Tanoesoedibjo
CEO, MNC Group



21 years of relevant
experience


Kanti Mirdiati Imansyah
Director
23 years of relevant
experience







Faisal Dharma Setiawan

CFO

25 years of relevant

experience





Diana Airin
Director
14 years of relevant
experience



Group President & CEO of MNC since March 2004
Founding shareholder and Group Executive Chairman of PT Bhakti Investama Tbk. since 1989
Currently holds positions in several other companies, including Group President & CEO of PT Global Mediacom Tbk. since
2002, President Commissioner of RCTI since 2008, President Commissioner of PT MNC Sky Vision (Indovision), President
Commissioner of Media Nusantara Informasi since 2008, President Commissioner of MNC Networks since 2008, President
Commissioner of MNC Pictures since 2007, and many other companies within MNC Media and Bhakti Investama Group
MBA degree from Ottawa University, Canada
Bachelor of Commerce (Honors) degree from Carleton University, Ottawa, Canada
Director Sales and marketing of RCTI from 2010 – 2012
GM Sales and Marketing manager and Director Sales and Marketing of CTPI from 2006-2010
AVP Sales and Marketing of Duta Visual Mandiri from 2003-2006
Head of Acquisition Manager of RCTI from 2002 – 2003
Sales Group Head Trans TV from 2000 – 2003
Sales Group Head & Account Executive1990 – 2000
Bachelor Degree of Science from La Jolla Academy of Advertising Arts and Associate Degree Fashion Merchandising from IFS
San Diego, USA
Independent Advisor - Business Solutions & Strategy for life and health insurance & Bank in 2013
Chief Executive Officer in PT Asuransi Jiwa Adisarana WanaArtha in 2012
Vice Chief Finance Officer – Strategy & Finance in PT Bank CIMB Niaga Tbk. in 2009
Commissioner in PT CIMB Sunlife in2009
Commissioner in PT Asuransi CIGNA in 2009
Director of Indo Kordsa Pension Fund (DPPK) in 1996
Graduated from Prasetya Mulya, Graduate School of Management with “MM” degree in International Business in 2001
Graduated from Universitas Katolik Parahyangan with Civil Engineer Degree (Bachelor Degree) in 1984
President Director of PT. Media Nusantara Informasi, PT. MNC Networks (Radio), & PT. Cross Media International (Media
Buying Agency) since 2013
Director of Sales Marketing of Seputar Indonesia, SUN TV, High End & High End Teen, and Network Magazine in 2010
Bachelor Degree of Economy – Management from Tarumanegara University
23
Highly Qualified and Experienced Management Team
Ella Kartika
Director
27 years of relevant
experience
Gwenarty Setiadi
Director
27 years of relevant
experience
Charlie Kasim
Independent Director
12 years of relevant
experience





Managing Director in PT Global Informasi Bermutu in 2013
Programming & Production Director in PT Rajawali Citra Televisi Indonesia in 2011
Programming & Production Director in PT Global Informasi Bermutu in 2010
Sales & Marketing Director in PT Global Informasi Bermutu in 2008
Obtained Master of Management Program from University of Indonesia majoring in Finance & Banking in 1998








Director of Human Resources and General Services in PT MNC Sky Vision Tbk in 2009
General Human Manager Human Resources and General Services in PT Media Nusantara Citra Tbk in 2008
Vice President (VP), Human Resources and General Services in Citibank in 2007
Vice President (VP), Head of Direct Sales Training Academy & HRRM in Citibank in 2005
Vice President (VP), Outsourcing Management Head in Citibank in 2004
Assistant Vice President (AVP), Sales Human Resources and Compliance Manager in Citibank in 2000
Manager, Sales Recruitment and Training Manager in Citibank in 1998
Graduated from University of Satya Wacana with Bachelor degree in Agronomy in 1982


Deputy Finance and Technical Director in PT Rajawali Citra Televisi Indonesia in 2013
Finance Director, Technical Director, Operational Director and Head of Procurement of PT Cakrawala Andalas Televisi (ANTV) in
2011
Chief Finance Officer in PT. Visi Media Asia Tbk (VIVA) in 2007
Finance/HR/Sales Director & CEO at PT. Viva Media Baru (Previously vivanews.com, now VIVA.CO.ID) in 2008
Finance Director and Head of Procurement at PT. Lativi Media Karya (tvOne, previously known as Lativi) in 2007
Operational Director at PT. Fajar Bumi Sakti (coal mining company based in East Kalimantan) in 2005
Commissioner of PT. Bakrie Swasakti Utama (Bakrie real estate company handling Taman Rasuna Apartement, Pasar Festival and
Klub Rasuna) in 2003
Vice President for Collection of PT. Bakrie Finance Corporation Tbk in 2002
Obtained MBA in Finance from University of Houston in 1997







24
Section 4
Financial Update Media Nusantara Citra
Financial Performance from 12M 2011 until 12M 2013
12M 2011 to 12M 2013 Financials
IDR trillion
2011
2012
2013
CAGR +5%
CAGR +6%
CAGR +10%
8.80
6.26
5.39
8.96
9.62
6.83
6.52
7.29
7.74
CAGR +23%
1.79
Revenue
2.38
2.72
EBITDA
Asset
Equity
12M 2011 to 12M 2013 Solvency Metrics
2011
55.83x
2012
2013
66.23x
47%
33%
30%
20%
Debt / EBITDA
Source: Company Financials
12% 10%
7%
Debt / Equity
38% 42%
46%
40% 43%
51% 50% 52%
11.66x
EBITDA / Interest
EBITDA Margin
3 TV EBITDA Margin
RCTI EBITDA Margin
26
MNCN (RCTI+GTV) vs. SCMA (SCTV+Indosiar)
(In million Rupiah)
Revenue
RCTI
GTV
Total
SCMA
3Q 2013
3Q 2014
YoY
799,032
198,560
997,592
913,015
897,402
201,368
1,098,770
945,836
12.31%
1.41%
10.14%
3.59%
• More appropriate to compare RCTI +
GTV with SCMA which only has 2 TV
stations
• We have outperformed the industry in
growth and margins.
Core EBITDA
RCTI
GTV
Total
SCMA
387,738
59,927
447,665
445,538
460,343
63,152
523,495
405,117
18.73%
5.38%
16.94%
-9.07%
EBITDA margins
RCTI
GTV
Total
SCMA
48.53%
30.18%
44.87%
48.80%
51.30%
31.36%
47.64%
42.83%
277
118
277
-597
• RCTI is by far the most dominant TV
station in Indonesia, it’s EBITDA alone is
bigger than our competitor.
MNCN is undervalued, trading at 30% discount to our competitor. The analysis above does not take into account earnings
from MNC TV, Sindo TV, and 19 Pay TV channels.
27
Summary of Financial Performance
FY 2012 & 2013 – 9M 2013 & 9M 2014
IDR billion
12M 2012
12M 2013
%chg
9M 2013
9M 2014
%chg
6,265
6,522
4%
4,749
5,044
6%
Advertising
5,351
5,720
7%
4,373
4,680
7%
Advertising excluding
Euro Cup
5,188
5,720
10%
-
-
Content
197
267
36%
76
145
Value Added Services
216
0
-100%
-
-
Others
500
536
7%
301
219
-27%
Operating expenses
4,050
3,962
-2%
2,984
3,132
5%
Core EBITDA
2,375
2,721
15%
1,883
2,041
8%
Core EBITDA Margin
38%
42%
40%
40%
Net Income
1,657
1,691
1,270
1,389
Revenue
2%
92%
9%
28
MNC Commands Highest Power Ratio
Channel
RCTI
MNCTV
GTV
MNC Group
SCTV
IVM
EMTEK Group
Trans
Trans7
Transcorp
ANTV
TVOne
VIVA Group
Metro
TVRI1
Others
Grand Total
ADEX Nett Estimation Q3 2014
Revenue (in IDR billion)
2014
Audience
Market
2013
2014
Growth
Share
Share
799
897
12%
15%
23%
434
391
-10%
8%
10%
200
201
1%
6%
5%
1.433
1.489
4%
30%
39%
657
602
-8%
18%
16%
213
320
50%
12%
8%
870
922
6%
30%
24%
425
390
-8%
9%
10%
579
280
-52%
8%
7%
1.004
670
-33%
17%
17%
150
340
127%
13%
9%
154
225
46%
6%
6%
304
565
86%
18%
15%
135
175
29%
4%
5%
7
9
24%
2%
0%
142
184
2%
5%
5%
3.753
3.830
2%
100%
100%
Source : AGB Nielsen Arianna / Annual Report IDX & Adex Nett Assumption Q3 2013-2014 (In Billion)
Power
Ratio
1,5
1,2
0,9
1,3
0,9
0,7
0,8
1,2
0,9
1,0
0,7
1,0
0,8
1,3
0,1
0,9
1,0
• Despite soft audience share MNC
group
still
holds
the
largest
advertising Market share at 39%
with a 1.3 Power Ratio
29
Strong revenue growth with increasing EBITDA Margins
Room For Further Margins Improvement
47.0% - 48.0%
41.7%
~42.0%
2013A
2014E
37.9%
33.2%
2011A
Source : Company information
2012A
2017E
30
Thank You
For further information, please contact Investor Relations Division:
Teddy Pun – SVP, Head of Corporate Finance and Investor Relations
[email protected]
Investor Relations:
Christy Kusuma Atmaja
[email protected]
Fauzia Prawiranata
[email protected]
James Prananto
[email protected]
PT Global Mediacom Tbk
MNC Tower 21st Floor
Jl Kebon Sirih No.17-19
Jakarta 10340, Indonesia
Tel: 62-21 3922949
Fax: 62-21 3910454
Website: www.mncgroup.com