Time Out : Half Year 2025 Presentation

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[{"type":"text","content":"Time Out Group plc\n Results for the six months ended 31 December 2024Timeline of the transformation from a UK print business to a multi-platform global brand\n Unmatched city authority built over 55+ years\n ONE TIME OUT\n First Time Out London magazine Time Out NY kicks off global Media expansion Launch of digital platforms\n Digital Media transition completed\n Monthly Media audience 178m+ More global Media deals + Out of Home in\n Markets\n 2024\n First Time Out Market in Lisbon\n New Markets in North America, Dubai and Cape Town\n 10 Markets across 4 continents with 20m+ visitors p.a.\n More Markets:\n + pipeline of opportunities\n 1968\n 1995\n 2010s\n 2014\n 2019-2023\n 2025-2027Vancouver\n Abu Dhabi\n Osaka\n Prague\n Budapest\n RiyadhH1 2025 Highlights\n Synergy benefits to be realised in H2 2025FY25 Ebitda remains in line with management expectations\n • H1 FY25: Revenue £50.9m (-3% YOY).Adjusted Ebitda £4.8m Post-IFRS16, (H1 FY24 £6.0m)\n Operational highlights\n • Markets continue to grow with 10 open, minimum 7 more by FY27 plus a strong pipeline:\n o H1: 2 new Markets opened (Barcelona O&O; Bahrain MA)\n o 4 confirmed openings in CY25\n • Media H1: fewer big-ticket campaign RFPs, but H2 potential pipeline ahead of last year\n o Media revenue -19% impacted by fewer large deals in H1 vs prior year - pipeline of potential new deals for H2 is c.20% larger than at this point last year\n o Global monthly media audience brand reach grew to 184m (+35%)\n o Out of Home advertising trial in New York Market now delivering revenue\n • Confirmed Opex synergies in H1 will materially contribute to Ebitda in H2 & FY26\n • New £5m unsecured convertible loan to support growth projects\n Outlook\n • Drive like-for-like growth in open Markets and convert pipeline targeting top 50 cities\n • Expand 'Out of Home' advertising revenues in Markets and large advertising deals\n • Target 200m digital audience, plus 50m+ out of home by FY27\n • One Time Out: selling solutions globally across digital and in-real-life channels\n • With Opex synergies and duplication removed, potential to grow profitability faster than sales\n 3Financial Headlines1) Like-for-like revenue growth in constant currency: non-sterling revenues in both FY25 and FY24 converted at FY24 actual exchange rates.\n 2) Adjusted EBITDA is operating profit before interes...

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