British Sky Broadcasting Group plc Results for the nine months ended March 31, 2000; Record Third Quarter DTH Growth Total Digital Sales Now 3.4 million.Business Editors LONDON--(BUSINESS WIRE)--May 10, 2000 British Sky Broadcasting British Sky Broadcasting (BSkyB — formerly two companies, Sky Television and BSB) is a company that operates Sky Digital, a subscription television service in the UK and the Republic of Ireland. It produces TV content, and owns several TV channels. Group plc (NYSE NYSE See: New York Stock Exchange : BSY BSY Busy BSY British School of Yoga BSY Bit Sync BSY Busy Line ), the UK-based pay-television broadcasting group, today announced its results for the nine months ended March 31, 2000. HIGHLIGHTS -- Highest ever third quarter net DTH (Direct-To-Home) Typically refers to satellite TV broadcasting directly to a dish antenna on the roof of a house. See DBS. growth of 190,000 subscribers -- Digital sales of 3.4 million to date -- Two-thirds of DTH subscribers now digital -- Over 50,000 installations per week during the quarter -- Y-T-D Operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. of(pound)51 million ($81 million) -- Recommended all share offer for Sports Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the Group plc -- Key roles at skysports.com for Sports Internet management -- Completion of investment in KirchPayTV Tony Ball, Chief Executive of British Sky Broadcasting Group plc, said: "In the past twelve months, we have attracted an additional 2.3 million subscribers to the Sky digital platform, underlining un·der·lin·ing n. 1. The act of drawing a line under; underscoring. 2. Emphasis or stress, as in instruction or argument. what has been the fastest digital launch by any European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. platform. Solid growth has been sustained in the most recent quarter, with the installation of over 50,000 Sky digital set-top boxes The cable TV box that sits on "top" of the TV "set," although it is often located several feet away in an equipment rack. The set-top box descrambles the premium channels and provides a tuner for the higher cable numbers that very old TVs did not support. a week. While others promise the advantages of digital delivery and interactivity, we have been delivering those benefits for a significant length of time. Two-thirds of our subscribers are now digital, with full access to e-mail and interactive services. We are also announcing today a recommended offer for Sports Internet, which has an excellent range of quality on-line activities. The businesses and the impressive management provide a terrific fit for Sky and I have every confidence that we will continue to occupy a leading position in the broadband broadband Term describing the radiation from a source that produces a broad, continuous spectrum of frequencies (contrasted with a laser, which produces a single frequency or very narrow range of frequencies). era." The Offer will not be made, directly or indirectly, in or into, the US, or in or into Canada Canada (kăn`ədə), independent nation (2001 pop. 30,007,094), 3,851,787 sq mi (9,976,128 sq km), N North America. Canada occupies all of North America N of the United States (and E of Alaska) except for Greenland and the French islands of , Australia Australia (ôstrāl`yə), smallest continent, between the Indian and Pacific oceans. With the island state of Tasmania to the south, the continent makes up the Commonwealth of Australia, a federal parliamentary state (2005 est. pop. or Japan and will not be capable of acceptance from within the US, Canada, Australia or Japan. BUSINESS REVIEW Operational The number of digital sales since launch to May 9, 2000 was 3.4 million. Total subscribers to Sky's channels increased by 219,000 in the three months to March 31, 2000 ("the quarter") to 8,623,000. The number of the total direct-to-home See DTH. ("DTH") subscribers increased by a record 190,000 to 4,156,000, the highest ever third quarter net DTH growth. At 2,751,000 the number of digital subscribers is two-thirds of total DTH subscribers. Digital churn churn: see butter. in the quarter was 4.8% annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. and now stands at 3.4% for the year to date. Analogue (electronics) analogue - (US: "analog") A description of a continuously variable signal or a circuit or device designed to handle such signals. The opposite is "discrete" or "digital". churn reduced by 38,000 to 112,000 compared with 150,000 in the comparable period. Financial The Company's operating profits for the nine months ended March 31, 2000 ("the period") were (pound)51 million ($81 million) compared with (pound)153 million ($243 million) for the comparable period. This reflects the acquisition costs of the greater volumes of new subscribers generated from the free set top box offer launched in May 1999. DTH revenues increased (pound)108 million ($172 million) to (pound)844 million ($1,341 million) with an increase of 9% in the average number of subscribers and an increase in the average monthly revenue per subscriber subscriber, n the person, usually the employee, who represents the family unit in relation to the prepayment plan. Other family members are dependents. Also called certificate holders or enrollees. , up 5% at around (pound)25 ($40). The digital pay to basic ration ration a fixed allowance of total feed for an animal for one day. Usually specifies the individual ingredients and their amounts and the amounts of the specific nutriments such as carbohydrate, fiber, individual minerals and vitamins. was 297%, some 21 percentage points above the 276% in analogue. Cable and DTT DTT Deloitte Touche Tohmatsu (Deloitte & Touch Global Operations) DTT Dithiothreitol (cytology reagent) DTT Digital Terrestrial Television DTT Discrete Trial Training revenues increased (pound)42 million ($67 million) to (pound)222 million ($353 million) with higher DTT subscribers and the effect of price increases offsetting the lower cable pay-to-basic ratio, currently 120%. A provision of (pound)4 million ($6 million) was made in the third quarter based on lower actual ONdigital subscriber figures reported to Sky than those previously reported. Airtime air·time n. 1. The time during which a radio or television station is broadcasting. Also called airspace. 2. The time at which a radio or television program is broadcast. revenue was increased by (pound)19 million ($30 million) to (pound)172 million ($273 million) reflecting increased prices and penetration, which rose to 33% of TV homes up from 30% in the comparable period. Sky's share of viewing in multi-channel See multichannel. homes was 13.1%. Operating costs operating costs npl → gastos mpl operacionales for the period increased by (pound)275 million ($437 million) to (pound)1,266 million ($2,011 million) as a result of the cost of acquiring the greater number of new digital subscribers and increases in programming costs. After its share of the results of joint ventures, the Company made a loss before taxation of (pound)90 million ($143 million) compared with a profit of (pound)69 million ($110 million) in the same period last year. The loss after tax in the period was (pound)71 million ($113 million) compared with earnings of (pound)51 million ($81 million) for the comparable period. During the nine months there was a net cash outflow of (pound)434 million ($689 million) including (pound)189 million ($300 million) in relation to transitioning analogue subscribers to digital and amounts in relation to funding for joint ventures, capital expenditure and other investments of (pound)170 million ($270 million). Net debt at the end of the period was approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. (pound)1.1 billion ($1.7 billion). KirchPayTV Between its relaunch Relaunch can refer to several things:
The recent agreement between the KirchGruppe and the German Soccer Federation (the Bundesliga
The Bundesliga (plural: -ligen) (Federal League ) marks a breakthrough in the presentation of soccer in Germany Germany (jûr`mənē), Ger. Deutschland, officially Federal Republic of Germany, republic (2005 est. pop. 82,431,000), 137,699 sq mi (356,733 sq km). allowing Premiere World the exclusive live coverage of all nine games per week for the next four years. Corporate Acquisition of Sports Internet BSkyB BSkyB British Sky Broadcasting today announced the terms of an all share recommended offer ("the Offer") for Sports Internet Group plc ("SI"), an AIM listed company listed company n → compañía cotizable listed company n → société cotée en Bourse listed company list n → , which at yesterday's closing price valued SI at (pound)301 million ($478 million). The Offer has been unanimously recommended by the SI Board and the Company has obtained irrevocable Unable to cancel or recall; that which is unalterable or irreversible. IRREVOCABLE. That which cannot be revoked. 2. A will may at all times be revoked by the same person who made it, he having a disposing mind; but the moment the testator is undertakings to accept the Offer from shareholder directors representing 51.5% of SI's issued share capital. The acquisition of SI brings an excellent range of quality on-line activities to the Company, and has also secured the services of the SI management team to drive Skysports.com through the next phase of its development. The Company considers that the acquisition will enable BSkyB to continue to occupy a leading position in the broadband era. Other On March 2 the Company announced a five year agreement to manage the on-line business of Tottenham This article is about the London district, for the football team see Tottenham Hotspur F.C.; for other uses, see Tottenham (disambiguation). Coordinates: Tottenham Hotspur Hotspur: see Percy, Sir Henry. Hotspur Sir Henry Percy, so named for his fiery character. [Br. Lit.: I Henry IV] See : Irascibility plc. On March 3 the Company announced an alliance with Chelsea Chelsea, city, United States Chelsea, city (1990 pop. 28,710), Suffolk co., E Mass., an industrial suburb of Boston; settled 1624, inc. as a town 1739, as a city 1857. It has made printed goods, rubber, plastics, electrical machinery, shoes, and paint. Village plc whereby Sky Sports Ventures Ltd (a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of BSkyB) will act as exclusive media agent (excluding rights required to be collectively negotiated) for an initial period of 5 years. The acquisition of a 24% interest in KirchPayTV was completed on May 4. The consideration for the interest was DM 1 billion ($500 million) funded by a cash placing of 19 million new BSkyB shares and the issue to KirchPayTV of approximately 78 million new BSkyB shares. On April 18 the Secretary of State for Trade and Industry announced that the Competition Commission had unconditionally cleared the acquisition by Vivendi
VIVENDI® is a software package for care management and staff organisation published by the German software company CONNEXT and introduced in 1995. of an interest in the Company. On April 28 the resignation of Dame Anne Anne, British princess Anne (Anne Elizabeth Alice Louise), 1950–, British princess, only daughter of Queen Elizabeth II and Prince Philip, duke of Edinburgh. She was educated at Benenden School. Mueller
Mueller may refer to:
tr.v. ap·point·ed, ap·point·ing, ap·points 1. To select or designate to fill an office or a position: appointed her the chief operating officer of the company. 2. a Director of the Company in 1991. On May 4 Dr. Dieter Hahn Hahn , Otto 1879-1968. German chemist. He won a 1944 Nobel Prize for his work on atomic fission. Noun 1. Hahn - German chemist who was co-discoverer with Lise Meitner of nuclear fission (1879-1968) Otto Hahn , Vice Chairman of the Board of Managing Directors of KirchGruppe and member of the Supervisory Board Supervisory board The board of directors that represents stakeholders in the governance of the corporation. of KirchPayTV, was appointed a non-executive director A non-executive director (NED, also NXD) or outside director is a member of the board of directors of a company who does not form part of the executive management team. He or she is not an employee of the company or affiliated with it in any other way. of BSkyB.
Appendix 1
Subscribers to Sky Channels
As at 9/30/99 As at 12/31/99 As at 3/31/00
Digital 1,279,000 2,065,000 2,751,000
Analogue 2,303,000 1,901,000 1,405,000
--------- --------- ---------
DTH 3,582.000 3,966,000 4,156,000
Cable 3,325,000 3,306,000 3,211,000
ONdigital 363,000 527,000 647,000
Eire 591,000 605,000 609,000
Total 7,861,000 8,404,000 8,623,000
ONdigital figures as per public announcement
Sky DTH Subscribers
1999/2000 Quarter 1 Quarter 2 Quarter 3
3 m to 9/30/99 3 m to 12/31/99 3 m to 3/31/00
Opening 3,460,000 3,582,000 3,966,000
Net additions 122,000 384,000 190,000
Closing 3,582,000 3,966,000 4,156,000
Churn 14.2% 10.2% 14.1%
Sky digital additions
1999/2000 Quarter 1 Quarter 2 Quarter 3
3 m to 9/30/99 3 m to 12/31/99 3 m to 3/31/00
New 244,000 455,000 316,000
Transitions 287,000 341,000 398,000
New as % of gross 46% 57% 44%
additions
BSkyB ADRs (each equal to six ordinary shares) trade on the New
York Stock Exchange under the symbol BSY. BSkyB ordinary shares are
listed on the London Stock Exchange, and can be accessed on Reuters
under the symbol BSY.L, and on Quotron and Bloomberg under the symbol
BSY. Additional information is available on BSkyB's home page:
http://www.sky.com.
British Sky Broadcasting Group plc
Consolidated profit and loss account
for the nine months ended March 31, 2000
3 months ended
March 31
2000 1999
Notes $m(a) (pound)m (pound)m
(unaudited) (unaudited)
Revenue: Group and share
of joint ventures 763.4 480.6 399.4
Less: share of joint
ventures' revenue (21.3) (13.4) (8.3)
------- --------- --------
Revenue 1 742.1 467.2 391.1
Operating expenses, net 2 (705.1) (443.9) (345.2)
------- --------- --------
Operating profit
before exceptional items (37.0) 23.3 45.9
Exceptional operating items - - -
------- --------- --------
Operating profit (loss) 37.0 23.3 45.9
Share of operating results
of joint ventures 3 (48.6) (30.6) (15.1)
Loss on sale of fixed
asset investment - - -
Interest payable
and similar charges, net (33.5) (21.1) (14.8)
------- --------- --------
(Loss) profit on ordinary
activities before taxation (45.1) (28.4) 16.0
Taxation 9.5 6.0 (4.3)
------- --------- --------
(Loss) profit on ordinary
activities after taxation (35.6) (22.4) 11.7
Equity dividends
- paid and proposed - - -
------- --------- --------
Retained (loss) profit (35.6) (22.4) 11.7
------- --------- --------
(Loss) earnings per share
- basic and diluted basis (2.1c) (1.3p) 0.6p
(Loss) earnings per ADR(b)
- basic and diluted basis (12.6c)
Dividends per share nil nil nil
Dividends per ADR nil
9 months ended Year ended
March 31 June 30
2000 1999 1999
$m(a) (pound)m (pound)m (pound)m
(unaudited)(unaudited) (audited)
Revenue: Group and share
of joint ventures 2,152.6 1,355.2 1,171.5 1,583.0
Less: share of
joint ventures' revenue (60.8) (38.3) (27.4) (38.0)
---------- ---------- -------- ---------
Revenue 2,091.8 1,316.9 1,144.1 1,545.0
Operating expenses, net (2,010.6) (1,265.8) (991.0) (1,359.7)
---------- ---------- -------- ---------
Operating profit
before exceptional items 81.2 51.1 153.1 185.3
Exceptional operating items - - - (456.3)
---------- ---------- -------- ---------
Operating profit (loss) 81.2 51.1 153.1 (271.0)
Share of operating
results of joint ventures (131.1) (82.5) (42.9) (57.7)
Loss on sale
of fixed asset investment (2.2) (1.4) - -
Interest payable
and similar charges, net (90.7) (57.1) (41.0) (60.0)
---------- ---------- -------- ---------
(Loss) profit on
ordinary activities
before taxation (142.8) (89.9) 69.2 (388.7)
Taxation 30.0 18.9 (18.7) 103.6
---------- ---------- -------- ---------
(Loss) profit on ordinary
activities after taxation (112.8) (71.0) 50.5 (285.1)
Equity dividends
- paid and proposed - - (47.3) (47.3)
---------- ---------- -------- ---------
Retained (loss) profit (112.8) (71.0) 3.2 (332.4)
---------- ---------- -------- ---------
(Loss) earnings per share
- basic and diluted basis (6.5c) (4.1p) 2.9p (16.5p)
(Loss) earnings per ADR(b)
- basic and diluted basis (39.0c)
Dividends per share nil nil 2.75p 2.75p
Dividends per ADR nil
(a) US dollar equivalents are provided for reader convenience at March
24, 2000 exchange rate of (pound)1 = $1.5884
(b) Each ADR represents six ordinary shares.
These accounts do not constitute statutory acounts and are
unaudited. The figures for the year ended June 30, 1999 have been
extracted from the accounts of British Sky Broadcasting Group plc on
which the auditors gave an unqualified audit report.
The accompanying notes form an integral part of this consolidated
profit and loss account.
Notes:
1. Revenue
The Group's revenue, whilst deriving from one class of business, has
been analysed as follows:
2000 1999 1999
9 months 9 months Year
ended ended ended
March 31 March 31 June 30
(pound)m (pound)m (pound)m
(unaudited) (unaudited) (audited)
Direct-to-home
subscribers 843.7 735.9 979.3
Cable and DTT subscibers 221.8 179.6 252.6
Advertising 172.3 153.8 216.5
Other 79.1 74.8 96.6
-------------- --------------- ----------------
1,316.9 1,144.1 1,545.0
============== =============== ================
2. Operating expenses, net
2000 1999 1999
9 months 9 months Year
ended ended ended
March 31 March 31 June 30
(pound)m (pound)m (pound)m
(unaudited) (unaudited) (audited)
Programming(a) 678.1 569.3 786.5
Transmission
and related functions(a) 79.7 67.7 90.9
Marketing 266.3 161.3 215.5
Subscriber management 154.2 118.2 154.4
Administration 87.5 74.5 112.4
-------------- --------------- ----------------
1,265.8 991.0 1,359.7
Exceptional
operating items - - 456.3
-------------- --------------- ----------------
1,265.8 991.0 1,816.0
============== =============== ================
(a) The amounts shown are net of (pound)29.8 million (1998/99: 9
months ended March 31 (pound)27.8 million; full year (pound)48.2
million) receivable from the disposal of programming rights not
acquired for use by the Group, and (pound)47.2 million (1998/99: 9
months ended March 31 (pound)36.2 million; full year (pound)50.6
million) in respect of the provision to third party broadcasters
of spare transponder capacity.
3. Share of results of joint ventures
This relates to the Group's equity share of the operating results of
joint ventures.
2000 1999 1999
9 months 9 months Year
ended ended ended
March 31 March 31 June 30
(pound)m (pound)m (pound)m
(unaudited) (unaudited) (audited)
British Interactive
Broadcasting 75.4 31.0 44.4
Programming joint ventures 7.1 11.9 13.3
-------------- --------------- ----------------
82.5 42.9 57.7
============== =============== ================
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