F. Meriot - Turin 2006_reduit

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Information about F. Meriot - Turin 2006_reduit
Business-Finance

Published on December 8, 2008

Author: aSGuest5644

Source: authorstream.com

Slide 1: Some elements of a publishing group’s perspective at a time of change EBF-IBF JOINT CONFERENCE ALI- ASSOCIAZIONE LIBRAI ITALIANI- CONFCOMMERCIO TORINO, 5 MAY 2006 Key features of the business and growth model Fully owned subsidiary of the Lagardère Group : HACHETTE LIVRE, Total turnover 2005 : € 13.013 m Share of media : turnover operating profit 8% 9% 21% 38% 24% 32% 48% 21% Share of total turnover : 39% Lagardère Media Assets Share of total turnover : 61% 15.1% 100% Key features of the business and growth model Fully owned subsidiary of the Lagardère Group Agenda : HACHETTE LIVRE : Agenda I – Key Features of the business and growth model of Hachette Livre II- Facing changes in the retail market: A publisher’s perspective III - Emerging trends in book marketing and selling Key features of the business and growth model Hachette Livre is now the third largest publisher in the world : Key features of the business and growth model Hachette Livre is now the third largest publisher in the world Top 25 Players in Consumer Book Publishing (US$ in millions) 2004–05 sales except *2003 and ** 2002. Note: Assumes 0.8045 EUR / USD. Excludes professional publishing and club sales. $384 $423 $439 $447 $478 $506 $623 $751 $776 $783 $784 $843 $876 $891 $972 $1,219 $1,327 $1,423 $1,586 $4,897 $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 $5,000 Wolters Kluwer Cornelsen Santillana Taylor & Francis Informa Time Warner Book Group Mondadori Bonnier Simon & Schuster Oxford University Press* Thomson Learning John Wiley Planeta** RCS Editis Reader's Digest* Houghton Mifflin Harper Collins Holtzbrinck* Reed Elsevier $1,722 De Agostini* $2,080 Scholastic $2,226 Random House $2,396 McGraw Hill Education Pearson $1,780 Hachette Livre $2,258 Hachette Livre: # 3 Worldwide # 1 Europe # 1 France # 1 UK # 1 ANZ # 2 Spain Key features of the business and growth model Hachette Livre is present across every segment of Consumer Publishing : Databases HACHETTE LIVRE : Hachette Livre is present on every segment, from literature to partworks, education and academic publishing. Key features of the business and growth model Hachette Livre is present across every segment of Consumer Publishing Book Publishing Consumer Professional « Trade » 63% Education 24% Literature Illustrated Reference & Partworks Supplements College / university Professional 13% K-12 Languages Key features of the business and growth model A publishing portfolio which is widely spread through various segments : HACHETTE LIVRE : Education 24% Literature 42% Illustrated 11% Reference 5% Partworks 10% Distribution 7% Other 1% Key features of the business and growth model A publishing portfolio which is widely spread through various segments *2005 Hachette Livre Data, pro-forma, 100% integration of Time Warner Book Group Total Sales Hachette Livre 2005 pro-forma* Key features of the business and growth model A publishing portfolio which reaches to different countries, languages and cultures : English 44% *2005 Hachette Livre Data, pro-forma, 100% integration of Time Warner Book Group French 38% Spanish 12% Other 6% Presence in France : Literature : Fayard, Grasset,Calmann-Lévy, JC Lattès, Stock, Harlequin, Livre de Poche Illustrated : Hachette Pratique,Marabout Education : Hachette Éducation,Groupe Alexandre Hatier Dictionaries / reference : Larousse Parworks : Hachette Encyclopédies et Collections Distribution Presence in Spain : Education : Anaya, Bruño Partworks : Salvat Editores Presence in Latin America : Education : Anaya, Aiqué Partworks : Salvat Editores Presence in the UK: Education : Hodder Education Literature : Hodder Headline,Orion Publishing Group, Time Warner Book Group Illustrated : Octopus Publishing Group Partworks : Hachette Partworks Presence in the US : Literature : Time Warner Book Group Presence in Australia & New Zeland : Literature : Hachette Livre Australia,Hachette Livre New Zealand, Lothian Books Key features of the business and growth model A publishing portfolio which reaches to different countries, languages and cultures Total Sales Hachette Livre 2005 pro-forma* Key features of the business and growth model A fast and major transformation conducted over 8 years : Key features of the business and growth model A fast and major transformation conducted over 8 years 2001 UK 14% 2005 proforma inc. USA Spain 11% UK 26% France 38% USA 18% 1997 France 87% Spain 7% Other Europe 5% Other 1% 2005 Key features of the business and growth model Diversity is the best driver of sustainable, long term growth : Key features of the business and growth model Diversity is the best driver of sustainable, long term growth Trade, Education and Partworks, each follows different business cycles which depend on distinct trends – and so does each language / country. Hachette Livre has developed a balanced portfolio so as to smooth the different cycles followed by segments and markets, and to capture all the potential areas of growth and profitability. Key features of the business and growth model Autonomy and devolution where it counts; economies of scale in support functions : Key features of the business and growth model Autonomy and devolution where it counts; economies of scale in support functions Our Mission & Shared Values We offer quality books meeting educational and entertainment needs A stimulating environment for our authors and publishers Creativity, innovation, quality in publishing Autonomy and responsibility in management Our organizational principles Decentralisation of publishing activities and autonomy of business units, ensuring a high creativity level, specific to each publishing unit The author and publisher is at the centre of our organization Market focused imprints with full P&L responsibility Federation of autonomous, human-size companies focused on innovation, creativity and quality with their own resources (including marketing and AAP) Economies of scale in back-office functions : Finance, Distribution, Sales to some extent (e.g. major key accounts) Key features of the business and growth model A growth strategy perfectly fit to preserve the group’s cultural fundamentals : Key features of the business and growth model A growth strategy perfectly fit to preserve the group’s cultural fundamentals Strategic / Tactical moves (organic?) Bringing important synergies Domestic market Language X Strategic moves with high entry costs Language Y Segment D Segment C Segment B Segment A Key features of the business and growth model A growth model relentlessly applied over the last 10 years : Integration of the British Watts Publishing Group (children’s) and acquisition of Wiedza i Zycie (Poland, Illustrated Books) Key features of the business and growth model A growth model relentlessly applied over the last 10 years 1826 1950's 1980 1996 1998 2000 2001 2004 1953 Reinforcement in the educational sector : purchase of the Hatier Publishing Group Purchase of British publishing groups Orion and Cassell Creation by Louis Hachette Hachette is acquired by Jean-Luc Lagardère 2005 Acquisition of Vivendi Universal Publishing assets: Anaya (Spain) Larousse, Dunod, Armand Colin, Dalloz (France) Acquisition of Hodder Headline, the fourth British publisher, whose presence in Education, Literature and Juvenile publishing fits well with Hachette Livre’s list Announcement of the 2006 divestiture of Dalloz (France, legal publishing) 2006 Purchase of British Publishing Group, Octopus (illustrated books) Acquisition of Time Warner Book Group in the USA Acquisition of prestigious French publishers : Grasset (founded in 1907) Fayard (founded in 1857) Stock (the oldest French publisher founded in 1708) The first French paperback imprint is launched : Le Livre de Poche Key features of the business and growth model A steady growth and performance pattern : HACHETTE LIVRE : * 1998 – 2004 : EBIT, 2004-2005: “RESOP” Key features of the business and growth model A steady growth and performance pattern Its large span of activities grants Hachette Livre a lower risk profile and steadier growth and performance pattern. Sales (M€) EBIT* (%) 1420 959 950 846 830 822 768 1998 1999 2000 2001 2002 2003 2004 1644 2005 7,7% 7,0% 9,6% 11,2% 6,3% 6,0% 11.5% (EBIT – RESOP) 11.5% Growth and Profitability 12,1% (EBIT – REX)

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