Slide 1: 2024 Results Presentation
2024 Results Presentation 26 March 2025 1
Slide 2: Contents
Contents I. 2024 Results II. 2025 Action Plan
Slide 3: I. 2024 Results
I. 2024 Results II. 2025 Action Plan
Slide 4: The starting point: a year of transition and short-term impacts
The starting point: a year of transition and short-term impacts Loss of Loss-making Execution Costs advertising Reduction in businesses: Writedown of of the Efficiency share spending from Relevo and goodwill. tax Plan. and higher major clients at Digital Services credits and extraordinary commercial
Slide 5: Main highlights of 2024
Main highlights of 2024 • EBITDA 2024 €-8.9m (vs €34.5m in 2023) impacted by: • Higher personnel expenses (€-15.6m. with compensation costs increasing €-14.8m) • Decrease in Press advertising (€-9.1m. loss of share) and commercial costs up €2.0m • Lower EBITDA ex compensation costs at Digital Servic
Slide 6: Main trends in 2024: EBITDA impacted by advertising and compensation costs
Main trends in 2024: EBITDA impacted by advertising and compensation costs Variation in EBITDA at Vocento (€m) Total variation €-28.7m Commercial costs 5.2 39.7 €-2.0. Loss of 34.5 printing personnel1 0.1 contacts €-1.0m and others (9.1) (3.8) Advisers and (6.4) others 11.0 (7.3) Press €-19.2m (2.2)
Slide 7: Main trends in 2024: loss of advertising share at the press
Main trends in 2024: loss of advertising share at the press YoY growth 2024 (%) 5.5% Segments where VOC is 2.4% present1 1.6% 1.3% (1.7%) (2.4%) (5.0%) (5.4%) (7.7%) Total advertising Offline Press2 Online3 Online Press2 Market4 Vocento Note 1: includes offline and online press. magazines and supple
Slide 8: Main trends in 2024: higher margin on digital subscriptions
Main trends in 2024: higher margin on digital subscriptions Paying subscribers (thousands) Var +15% • Margin on readers €0.1m thanks to 158 +10% rise in digital 138 subscription 60 revenues 114 50 • Increase in weight 40 of digital margin to 25% of the total (+2 p.p. vs 2023) 99 88 75 2022 2023 2024
Slide 9: Main trends in 2024: diversified businesses
Main trends in 2024: diversified businesses Revenues (%) EBITDA ex (€m) Var% 14.5 2.9 €-7.3m Growth of ‘Spain Fusion‘: new events in Japan +14.2% 7.2 Good performance at automotive. 2.8 challenging conditions for +6.4% 6.6 pisos.com Reduction in spending from major 6.5 (5.3%) clients. 3.7 Abandonmen
Slide 10: Net result
Net result Data in €m 1T24 2024 1T23 2023 Var % Var% Revenues 344.7 362.3 (4.9%) Operating expenses excluding depreciation (353.6) (327.8) (7.9%) EBITDA ex compensation costs 11.0 39.7 (72.3%) Compensation costs (19.9) (5.2) n.r. EBITDA (8.9) 34.5 n.r. Depreciation and result from asset sales (42.6)
Slide 11: Extraordinary effects in the P&L
Extraordinary effects in the P&L Data in €m 2024 Explanation Impairment of fixed assets and others (18.1) Printing. real estate and other assets Write-down of goodwill (22.8) Las Provincias & La Verdad newspapers Writedown of tax credits (16.8) Lower recovery in the tax bases Total impact1 on result
Slide 12: Financial position impacted by cash flow and compensation payments
Financial position impacted by cash flow and compensation payments Data in €m Ordinary free cash flow €-11.5m 10.4 59.3 5.5 (3.8) NFD 6.7 IFRS16 leases 16.3 14.0 34.1 1.6 NFD IFRS16 1.8 leases (11.0) 18.9 Bank and Bank & other other 43.1 15.1 NFD New EBITDA Working Capex Financials & VOC Compens. Ot
Slide 13: VOCENTO is the ESG leader of the media sector
VOCENTO is the ESG leader of the media sector VOCENTO obtained a score of 45 (vs 28 in 2023) and a percentile of /100 94 equivalent to the top 6 of 100 in the PUB Media. Movies & Entertainment category VOCENTO obtained a score of 5.25 (vs 5.04 in 2023) and a percentile of 99/100 equivalent to the to
Slide 14: II. 2025 Action Plan
I. 2024 Results II. 2025 Action Plan
Slide 15: 2025 Action Plan (I): review of perimeter
2025 Action Plan (I): review of perimeter Actions planned Progress in 2025 Sale of 100%. valued at €22.5m. Closed March 2025. 2024 sales €12.2m Digital services Strengthen balance sheet. improve profits. reduce risks Decision to abandon of activity Process of negotiating for its activity closure sta
Slide 16: 2025 Action Plan (II): core Press business
2025 Action Plan (II): core Press business Actions planned Progress in 2025 Reorganisation of commercial team in a local-national Completed the incorporation of a new sales team to win structure. with a group vision and targets. Focus on back market share. Implementation of a new organisation. adver
Slide 17: 2025 Action Plan (III): Director Plan for efficiency
2025 Action Plan (III): Director Plan for efficiency Single vision of the company Better processes with Develop and use talent cost synergies and to find efficiencies and optimised resources. More digital and flexible shared services using automation and editorial teams robotics. increasing quality
Slide 18: 2025 Action Plan (IV): growth of diversified businesses
2025 Action Plan (IV): growth of diversified businesses Actions planned Progress in 2025 Recover the Agencies business by widening the client portfolio Agencies revenues growing by double digit Jan/Feb25 Double digit growth in automotive revenues at Classifieds in Growth in the automotive vertical a
Slide 19: Strategic Plan Presentation Investor Day, May 2025
STRATEGIC PLAN PRESENTATION INVESTOR DAY. MAY 2025 Objectives Strategic Plan vision Clearer. more agile organisation Profitable growth Focus on subscription model Strengthen margins Drive differentiated. high-quality digital productd Increase capacities Develop verticals and synergies with Diversify
Slide 20: Vocento
vocento Comunicacion innovadora Para /conformislas
Slide 21: Appendices
Appendices
Slide 22: Increased weight of strategic revenues
Increased weight of strategic revenues Vocento revenue mix (%) Digital + Diversification 46% 48% 17% 19% 28% 29% 1% 1% 53% 51% 2023 2024 Diversification Digital Audiovisual Offline newspapers1 Note: data rounded to the nearest %. Note 1: Including mainly offline newspapers and other revenues. 22
Slide 23: Revenues by business (1/2)
Revenues by business (1/2) Newspapers Audiovisual (€m) (€m) 290.5 271.4 5.1 4.9 15.2 2.2 13.8 0.2 0.2 2.9 82.4 Supp. & Content 75.1 Mag. Relevo DTT 3.5 3.6 ABC Radio 202.7 190.8 Regional Elimin. Elimin. 1.6 1.2 (0.1) (0.1) (12.0) (11.1) 2023 2024 2023 2024 Data rounded to the nearest hundred thousan
Slide 24: Revenues by business (2/2)
Revenues by business (2/2) Diversified businesses (€m) 71.7 73.2 24.5 25.9 Agencies Gastronomy 14.3 16.3 Digital services 3.5 2.6 Classifieds 28.0 29.8 2023 2024 Data rounded to the nearest hundred thousand euro. 24
Slide 25: Revenues from local and national advertising
Revenues from local and national advertising National advertising vs. local1 (%) Local advertising1: Print vs. Digital 31.8% 33.0% 68.2% 67.0% 45.9% 46.3% Var% YoY Local (5.7%) 2023 2024 National (4.3%) Offline Online 54.1% 53.7% National advertising1: Print vs. Digital 2023 2024 74.9% 76.3% Total T
Slide 26: EBITDA by business (1/2)
EBITDA by business (1/2) Newspapers Audiovisual (€m) (€m) 27.1 (2.9) 3.0 2.6 1.8 6.8 Supp. & Content Mag. Relevo DTT 24.8 ABC Radio 0.6 3.0 3.0 Regional 3.1 (1.6) (6.3) 0.0 (0.5) (4.9) 2023 2024 2023 2024 Data rounded to the nearest hundred thousand euro. 26
Slide 27: EBITDA by business (2/2)
EBITDA by business (2/2) Diversified businesses (€m) 14.5 7.2 2.9 Gastronomy 1.4 Digital services 2.8 Classifieds 6.6 Agencies 6.6 3.7 1.3 (3.3) 2023 2024 Data rounded to the nearest hundred thousand euro. 27
Slide 28: EBITDA at Regional
EBITDA at Regional €m data in YoY variation except absolute values for EBITDA 2023 and 2024 24.8 Including higher compensation 0.1 costs €8.7m (5.3) (5.4) 3.1 (11.1) EBITDA Advertising1 Margin Margin on Personnel EBITDA 2023 on printing and expenses 2024 readers distribution and others Note: figures
Slide 29: EBITDA at ABC
EBITDA at ABC €m data in YoY variation except absolute values for EBITDA 2023 and 2024 6.8 0.0 Including higher compensation (3.4) costs €1.7m (4.0) (1.0) (1.6) EBITDA Advertising1 Margin Margin on Personnel EBITDA 2023 on printing and expenses and 2024 readers distribution others Note figures are r
Slide 30: Consolidated Balance Sheet
Consolidated Balance Sheet Data in €m 2024 2023 Non-current assets 220.7 298.4 Current assets 125.2 137.5 Assets held for sale 9.9 1.3 Total assets 355.7 437.1 Shareholder equity 161.6 266.8 Financial debt 78.7 59.0 Other non-current liabilities 20.3 24.0 Other current liabilities 95.2 87.4 Total li
Slide 31: Variation in net financial position
Variation in net financial position Data in €m 2024 2023 EBITDA ex compensation payments1 11.0 39.7 Variation in working capital (1.8) (6.3) Capex (14.0) (12.8) Other items1 2 1.0 (11.3) Cash flow from recurring activities (3.8) 9.3 Dividends and interest received 0.2 0.4 Dividends and interest paid
Slide 32: 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 33: 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 34: 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 35: Vocento
vocento vocento Comunicacion innovadora Para /conformislas