Slide 1: FY2024 Results
FY2024 RESULTS 13 FEBRUARY 2025
Slide 2: Disclaimer
DISCLAIMER This presentation contains rounded figures and contains forward-looking information and statements about the TF1 group. Forward-looking statements are statements that are not historical facts, and include, but are not limited to: financial projections, forecasts and estimates and their un
Slide 3: Agenda
1 BUSINESS REVIEW P.5 2 FINANCIALS P.10 STRATEGY UPDATE 3 AND OUTLOOK P.16 4 Q&A P.24 FY 2024 FINANCIAL RESULTS 3
Slide 4: 2024 Highlights
HIGHLIGHTS CONSOLIDATED REVENUE GOOD PERFORMANCE IN CONTINUED STRONG LEADERSHIP MAINTAINED GROWTH DRIVEN BY BOTH ADVERTISING MOMENTUM FOR despite France Televisions’ BUSINESS SEGMENTS coverage of the Paris Olympics Group revenue Group advertising revenue Digital advertising revenue +2.6% vs 2023 +2.
Slide 5: Business Review
1 BUSINESS REVIEW FY 2024 FINANCIAL RESULTS 5
Slide 6: Leadership maintained despite unprecedented competition with the Paris Olympic Games
LEADERSHIP MAINTAINED DESPITE UNPRECEDENTED COMPETITION WITH THE PARIS OLYMPIC GAMES UNRIVALLED DAILY REACH AMONG MEDIA 33.5 W<50PDM +9.8 pts vs main competitor 22.6 78% 12.8 10.3 4.6 3.9 3.3 3.4 2.5 2.4 2.1 1.9 0.4 0.4 53% TF1 M6 F2 TMC W9 F3 TFX TF1SF 6ter Gulli F5 LCI F.info 32% -0.5 -0.7 -0.7 +1
Slide 7: Solid line-up in 2024, performing well both in linear and in streaming
SOLID LINE-UP IN 2024, PERFORMING WELL BOTH IN LINEAR AND IN STREAMING SOLID POSITION ON ALL DAY-PARTS VIRTUOUS LINEAR & STREAMING STRATEGY A stable number 4+ +1% Average audience share at end-December 2024 of hours viewed for the whole group 25-49 Y/O -1% 7:30am 9:30am 1:40pm 2pm 6:45pm 8pm 9pm 11p
Slide 8: TF1+: significant progress on all building blocks
: SIGNIFICANT PROGRESS ON ALL BUILDING BLOCKS Awareness Visibility Consumption Ad Inventories CPM STARTING 73% 54% 28m streamers ~4min/hour ~€12/CPM POINTS at end-February 2024 at end-June 2024 in 2023 on MYTF1 on MYTF1 on MYTF1 STREAMED AIDED AWARENESS FIRST VISIBILITY HOURS 3 1.2bn AD LOAD CPM ACH
Slide 9: Newen Studios full-year highlights
FULL-YEAR HIGHLIGHTS Revenue of €345m in 2024, up 4.6% ; COPA of €38m ; double-digit COPA margin of 11.0%, up 1.6 pts KEY ACHIEVEMENTS MAJOR DELIVERIES CINEMA Strengthening Acquisition Gradual New seasons of prestigious Successful synergies with of Johnson production normalisation series delivered t
Slide 10: Financials
2 FINANCIALS FY 2024 FINANCIAL RESULTS 10
Slide 11: Consolidated revenue per segment
CONSOLIDATED REVENUE PER SEGMENT MEDIA (€m) Q4 2024 Q4 2023 CHANGE FY 2024 FY 2023 CHANGE Advertising revenue up 2% YoY in 2024 Linear: stable ad revenue despite MEDIA 612 618 (0.9%) 2,011 1,967 2.2% - The Paris 2024 Olympic Games on FTV - A more challenging market in the last ADVERTISING REVENUE 49
Slide 12: Current operating profit from activities per segment
CURRENT OPERATING PROFIT FROM ACTIVITIES PER SEGMENT (€m) Q4 2024 Q4 2023 CHANGE FY 2024 FY 2023 CHANGE MEDIA MEDIA 68 65 4.3% 259 256 0.9% COPA margin broadly stable in 2024 O/W PROGRAMMING COSTS (315) (331) (4.9%) (986) (960) 2.7% despite an increase in programming costs and investments in TF1+ MA
Slide 13: Consolidated income statement
CONSOLIDATED INCOME STATEMENT (€m) Q4 2024 Q4 2023 CHANGE FY 2024 FY 2023 CHANGE CONSOLIDATED REVENUE 765 749 2.1% 2,356 2,297 2.6% PROGRAMMING COSTS (315) (331) (4.9%) (986) (960) 2.7% OTHER CHARGES, DEPRECIATION, AMORTISATION AND PROVISIONS (352) (335) 5.1% (1,073) (1,049) 2.3% CURRENT OPERATING P
Slide 14: Solid net cash position at end-December 2024
SOLID NET CASH POSITION AT END-DECEMBER 2024 NET CASH POSITION Free cash flow before changes in WCR €229 million Stable 518 year on year (9) (280) (38) 505 (61) 506 (129) €m Free cash flow after changes in WCR €191 million Opening net cash Operating Lease Net capital Change in operating Acquisitions
Slide 15: Proposed 9% increase in dividend per share
PROPOSED 9% INCREASE IN DIVIDEND PER SHARE YoY 2018-2024 EVOLUTION (€/SHARE) CAGR +7.0% €0.602 €0.55 €0.50 € 127m 1 €0.40 €0.45 €0.45 € 0.602 €0.0 PER SHARE 2018 2019 2020 2021 2022 2023 2024 COVID DIVIDEND YIELD3 1 Based on 211,021,535 shares at 31/12/2024 5.6% - 6.8% 5.1% 6.9% 7.7% 8.2% 2 Subject
Slide 16: Strategy Update and Outlook
STRATEGY 3 UPDATE AND OUTLOOK FY 2024 FINANCIAL RESULTS 16
Slide 17: Ambition: primary premium destination on TV screens
ESTABLISH THE GROUP AMBITION AS THE PRIMARY PREMIUM DESTINATION ON TV SCREENS FOR FAMILY ENTERTAINMENT AND QUALITY NEWS IN FRENCH FY 2024 FINANCIAL RESULTS 17
Slide 18: Strategy pillars
STRATEGY STRENGTHEN THE GROUP’S LEADERSHIP IN THE LINEAR ADVERTISING MARKET BECOME THE LEADING FREE STREAMING PLATFORM IN FRANCE AND IN FRENCH-SPEAKING MARKETS STUDIO TF1 * REINFORCE STUDIO TF1’S POSITION ON THE INTERNATIONAL STAGE BY LEVERAGING TF1 BRAND’S APPEAL * New brand name of Newen Studios s
Slide 19: Linear: gain market share in a flattish TV ad market
LINEAR: GAIN MARKET SHARE IN A FLATTISH TV AD MARKET THROUGH VOLUME THROUGH A DISTINCTIVE WITH OUR POWERFUL FRANCHISES GENERATING LEADING SHARE OF PREMIUM AD INVENTORIES ON COMMERCIAL TARGETS PRICING STRATEGY ENTERTAINMENT FRENCH DRAMA WOMEN’S SPORTS 2025 Serialized franchises Wide universe of new h
Slide 20: Establish TF1+ as the premium alternative to YouTube
GAIN MARKET SHARE IN A GROWING DIGITAL VIDEO AD MARKET ESTABLISH TF1+ AS THE PREMIUM ALTERNATIVE TO YOUTUBE FOR VIEWERS FOR ADVERTISERS EXPANSION IN AGGREGATION STRATEGY DATA-ENRICHED NEW AD FORMATS FRENCH-SPEAKING MARKETS AD INVENTORIES Improve ad tech stack to address advertisers’ needs from BELGI
Slide 21: Reinforce Studio TF1's position on the international stage
REINFORCE STUDIO TF1’S POSITION ON THE INTERNATIONAL STAGE NEWEN STUDIOS REBRANDS AS STUDIO TF1 (EFFECTIVE STARTING MARCH 2025) INCREASE STUDIOS' STRENGTHEN SYNERGIES EXPAND FOCUS ON FILM INTERNATIONAL PROFILE WITH THE MEDIA SEGMENT with an extensive catalogue which will benefit from the support of
Slide 22: 2025 Guidance
2025 GUIDANCE In an advertising market with limited visibility STRONG DOUBLE-DIGIT REVENUE GROWTH IN DIGITAL BROADLY STABLE MARGIN FROM ACTIVITIES COMPARED WITH 2024 AIMING FOR A GROWING DIVIDEND POLICY IN THE COMING YEARS FY 2024 FINANCIAL RESULTS 22
Slide 23: To sum up / FY25 guidance
TO SUM UP FY25 GUIDANCE STRONG DOUBLE-DIGIT REVENUE GROWTH 2024 AUDIENCE REVENUE IN DIGITAL TARGETS LEADERSHIP GROWTH DRIVEN ACHIEVED MAINTAINED BY BOTH SEGMENTS BROADLY STABLE COPA MARGIN YoY CONTINUED COPA MARGIN SOLID AIMING FOR A GROWING STRONG MOMENTUM SLIGHTLY HIGHER FINANCIALPOSITION DIVIDEND
Slide 24: FY 2024 Financial Results
Femme Fv 2024 FINANCIAL RESULTS 24