Vocento, S.a. · BME:VOC
Vocento — Q1 2025 Earnings Presentation
21 slides from Vocento's earnings presentation, May 12, 2025
Slide 1: 1Q25 Results Presentation
1Q25 Results Presentation 12 May 2025 1
Slide 2: Main highlights of 1Q25
Main highlights of 1Q25 • 1Q25 revenues €76.8m (-1.3%). When adjusted for a one-off in 1Q24 (€3m from outsourcing of printing of newspapers printing of Rotomadrid) and change in scope(€-0.5m for winding Revenues increase, down of Digital Services), revenues increased by +3.3% adjusted for changes to
Slide 3: 1Q25 highlights: EBITDA impacted by extraordinaries and indemnification payments
1Q25 highlights: EBITDA impacted by extraordinaries and indemnification payments Variation in Vocento EBITDA (€m) Var. adjusted EBITDA ex €+1.6m (2.4) (3.0) (0.8) (0.2) 0.8 (0.6) 0.3 0.5 (7.5) 6.7 (3.0) EBITDA Digital Rotomadrid Press Diversified Compen. EBITDA Compen. Corp. EBITDA EBITDA ex Service
Slide 4: 1Q25 highlights: Vocento advertising improves vs 2024
1Q25 highlights: Vocento advertising improves vs 2024 Market share (%) 2024 1Q25 22.2% 24.7% 77.8% 75.3% VOCENTO Other general press Note 1. source: AMI. General press, gross advertising data. 4
Slide 5: 1Q25 highlights: increase in subscriptions
1Q25 highlights: increase in subscriptions Paying subscribers (thousands) Var +12% • Margin on readers €0.6m thanks to a 161 +4% increase in revenues from 134 digital subscriptions 122 61 53 • Digital margin 41 represents 27% of the total 100 81 81 1Q23 1Q24 1Q25 Note: data rounded to the nearest th
Slide 6: 1Q25 highlights: improvement in diversified businesses
1Q25 highlights: improvement in diversified businesses Variation in revenues (%) EBITDA ex (€m) Increase in pro- forma EBITDA ex1 €+0.3m (+18.8%) 0.2 2.1 Total diversified businesses +18.0% 1.9 2.2 1.7 1.8 Success event for Madrid Fusión +12.5% Gastronomy Good performance at automotive +34.7% Classi
Slide 7: Net result
Net result Data in €m 1Q25 1Q25 1Q24 1Q24 Var % Var% Revenues 76.8 77.8 (1.3%) Operating expenses ex depreciation & compens. costs (79.8) (85.4) 6.5% EBITDA ex compensation costs (2.4) (0.8) n.r. ICompensation cots (0.6) (6.7) n.r. EBITDA (3.0) (7.5) 60.7% Depreciation and result from asset sales (5
Slide 8: Net financial position: improvement thanks to asset sales
Net financial position: improvement thanks to asset sales Data in €m Ordinary cash flow €0.2m 2.4 3.7 NFD 59.3 0.5 4.1 0.3 IFRS16 leases 16.3 (7.0) 42.1 NFD IFRS16 (21.3) (0.1) leases 15.5 Banking & Banking other and other 43.1 26.6 New EBITDA Working Capex Financials & Compens. Asset Other NFD NFD
Slide 9: Meeting EBITDA target for 2025
Meeting EBITDA target for 2025 In line with forecasts. • Completed sale of Pisos.com Review of scope • In negotiations to close Relevo Contribution to 2025 EBITDA target of €+4.4m • Advancing with real estate sales Recovery of advertising revenues with increase in market share • Increased general pr
Slide 10: Appendices
Appendices
Slide 11: Increased weight of strategic revenues
Increased weight of strategic revenues Vocento revenue mix (%) Digital + Diversification2 39% 44% 15% 18% 24% 26% 2% 2% 60% 55% 1Q24 1Q25 Diversification Digital Audiovisual Offline newspapers1 Note: data rounded to the nearest % .Note 1: includes mainly newspapers and other revenues. Note 2: pro fo
Slide 12: Revenues by business (1/2)
Revenues by business (1/2) Newspapers (€m) Audiovisual (€m) 63.3 59.8 1.2 1.3 2.5 0.5 2.4 0.0 0.5 0.0 18.7 17.6 Supp. & Content Mags. Relevo DTT 0.9 0.9 ABC Radio 44.0 41.6 Regional Elimin. Elimin. 0.3 0.3 (2.5) (2.4) 0.0 0.0 1Q24 1Q25 1Q24 1Q25 Data rounded to the nearest hundred thousand euros. 12
Slide 13: Revenues by business (2/2)
Revenues by business (2/2) Diversified businesses (€m) 14.4 17.0 4.8 3.9 Agencies Gastronomy 6.3 Digital Services 5.6 Classifieds 0.2 0.7 5.7 4.2 1Q24 1Q25 Data rounded to the nearest hundred thousand euros. 13
Slide 14: Revenues from local and national advertising
Revenues from local and national advertising National advertising vs local1 (%) Local advertising1: Print vs Digital 31.2% 30.6% 68.8% 69.4% Var % YoY 39.3% 42.6% Local (5.5%) 1Q24 1Q25 National +8.2% Offline Online 60.7% 57.4% National advertising1: Print vs Digital 1Q24 1Q25 79.3% 78.2% Total Tota
Slide 15: EBITDA ex indemnification payments by business (1/2)
EBITDA ex indemnification payments by business (1/2) Newspapers (€m) Audiovisual (€m) 0.6 (1.9) 0.7 0.7 0.7 Supp. & Content 2.3 Mag. 2.1 Relevo DTT 0.8 (1.7) ABC Radio (2.5) 1.3 0.8 (0.5) Regional (1.1) (0.1) (0.5) 1Q24 1Q25 1Q24 1Q25 Data rounded to the nearest hundred thousand euros. 15
Slide 16: EBITDA ex indemnification payments by business (2/2)
EBITDA ex indemnification payments by business (2/2) Diversified businesses (€m) 1.9 2.1 Gastronomy 1.8 1.7 Digital services Classifieds 0.1 1.0 1.3 Agencies 0.0 (0.9) (0.9) 1Q24 1Q25 Data rounded to the nearest hundred thousand euros. 16
Slide 17: Consolidated Balance Sheet
Consolidated Balance Sheet Data in €m 1Q25 2024 Non-current assets 215.0 220.7 Current assets 121.0 125.2 Assets held for sale 9.9 9.9 Total assets 345.9 355.7 Shareholder equity 170.7 161.6 Financial debt 61.7 78.7 Other non-current liabilities 19.6 20.3 Other current liabilities 93.9 95.2 Total li
Slide 18: Alternative Performance Measures
Alternative Performance Measures Vocento discloses its consolidated financial statements in accordance with International EBITDA is considered to be a useful indicator and is commonly accepted and widely used when Financial Reporting Standards (IFRS). valuing businesses, comparing performances and a
Slide 19: Alternative Performance Measures
Alternative Performance Measures The amount of the item of ‘debt with credit institutions’ is the nominal value and not its CAPEX amortized cost, i.e. it does not include the impact of deferred arrangement costs. Guarantees Definition: investment in material and intangible assets. of technical and f
Slide 20: Este documento y la información contenida en el mismo han sido preparados por Vocento,
Este documento y la información contenida en el mismo han sido Adicionalmente, ciertas cifras incluidas en este documento se han preparados por Vocento, S.A. en relación, exclusivamente, con los redondeado. Por lo tanto, en los gráficos y tablas se pueden producir resultados financieros consolidados
Slide 21: vocento
vocento