Universal Music Group N.v. · EURONEXT:UMG
Universal Music — Q2 2025 Earnings Presentation
23 slides from Universal Music's earnings presentation, Jul 31, 2025
Slide 1: Universal Music Group Second Quarter & First Half Ended June 30, 2025
Universal Music Group Second Quarter & First Half Ended June 30, 2025
Slide 2: Important Information
Important Information Forward-Looking Statements This presentation may contain statements that constitute forward-looking statements relating to the financial condition, results of operations, business, strategy and plans of Universal Music Group N.V. (the “Company” or “UMG”). Such forward-looking s
Slide 3: Sir Lucian Grainge, Chairman and Chief Executive Officer
Sir Lucian Grainge Chairman and Chief Executive Officer Universal Music Group
Slide 4: 1H25 Consolidated Results
1H25 Consolidated Results REVENUE ADJUSTED EBITDA +6.9% +8.5% € 5,881 € 1,336 € 5,526 € 1,240 1H24 1H25 1H24 1H25 Note: € in Millions; Revenue and Adjusted EBITDA growth shown in constant currency,
Slide 5: U.S. Chart Success 1H25
U.S. Chart Success 1H25 6 of the 8 of the TOP 10 TOP 10 Most-Streamed Albums * Songs * *UMPG interest in all 10 albums *UMPG interest in 8 of Top 10 songs 6 of the No. 1 TOP 10 Charting Album Sales Soundtrack Debuts of 2025 Source: Billboard
Slide 6: Global Success 1H25
Global Success 1H25 Japan U.K. Germany 6 of the 7 of the 3 of the TOP 10 TOP 5 No. 1 TOP 10 Single Albums Singles Albums Fasting Selling Vinyl Album Of The Century The Netherlands France 4 of the TOP 10 3 of the 5 of the 2 of the Artists TOP 5 TOP 10 Biggest Breakout Artists Albums Singles Source: B
Slide 7: Expansion in China
Expansion in China
Slide 8: Health & Wellness
Health & Wellness SOUINCYCLE lL: @Fitness+ J FITRADIO (I i} GS (3) MEDRhythms >) PELOTON LITEBOXER ae TIARIVE [zyse
Slide 9: Patented Four AI-Enabled Technologies
Patented Four AI-Enabled Technologies 1st Identifies efficiency of a marketing opportunity Patent using AI 2nd Analyzes and predicts likelihood of audience engagement Patent 15 patents filed in the areas of musical collaboration, multi- media content and campaign 3rd Predicts social media content tr
Slide 10: Sir Lucian Grainge, Chairman and Chief Executive Officer
Sir Lucian Grainge Chairman and Chief Executive Officer Universal Music Group
Slide 11: Unlocking Opportunities to Expand Music's Value
Unlocking Opportunities to Expand Music’s Value ABBA Voyage ABBA Voyage UMusic Hotels & UMusic Shop COMPLEX WTSL
Slide 12: Sir Lucian Grainge, Chairman and Chief Executive Officer
Sir Lucian Grainge Chairman and Chief Executive Officer Universal Music Group
Slide 13: Boyd Muir, Chief Operating Officer
Boyd Muir Chief Operating Officer Universal Music Group
Slide 14: 2Q25 Consolidated Results
2Q25 Consolidated Results REVENUE ADJUSTED EBITDA ADJUSTED EBITDA MARGIN +4.5% +7.3% +0.6pp 22.1% 22.7% € 2,932 € 2,980 € 676 € 649 2Q24 2Q25 2Q24 2Q25 2Q24 2Q25 Note: € in Millions; Revenue and Adjusted EBITDA growth shown in constant currency.
Slide 15: 1H25 Consolidated Results
1H25 Consolidated Results REVENUE ADJUSTED EBITDA ADJUSTED EBITDA ADJUSTED DILUTED MARGIN EPS +6.9% +8.5% +0.3pp +9.1% 22.4% 22.7% € 5,881 € 1,336 € 5,526 € 1,240 € 0.48 € 0.44 1H24 1H25 1H24 1H25 1H24 1H25 1H24 1H25 Note: € in Millions; Revenue and Adjusted EBITDA growth shown in constant currency,
Slide 16: Recorded Music
Recorded Music 2Q REVENUE 1H25 REVENUE 1H25 ADJUSTED 1H25 ADJUSTED EBITDA EBITDA MARGIN +3.9% +7.0% +9.9% +0.7pp € 2,200 € 2,224 € 4,464 26.1% € 4,190 € 1,163 25.4% € 1,065 2Q24 2Q25 1H24 1H25 1H24 1H25 1H24 1H25 Note: € in Millions; All growth rates are in constant currency.
Slide 17: Recorded Music Revenue
Recorded Music Revenue 2Q25 Recorded Music Revenue Breakdown 1H25 Recorded Music Revenue Breakdown +8.5% +9.1% +50.0% -12.4% -6.5% +8.9% +4.6% +17.2% -0.5% +8.6% 2Q24 2Q25 € 2,449 1H24 1H25 € 1,197 € 711 € 611 € 358 € 584 € 310 € 290 € 69 € 109 Subscription Streaming Download & Physical License & Su
Slide 18: Music Publishing
Music Publishing 2Q25 REVENUE 1H25 REVENUE 1H25 ADJUSTED 1H25 ADJUSTED EBITDA EBITDA MARGIN +14.5% +12.1% +7.9% -0.9pp € 570 € 1,125 € 511 € 1,008 € 259 € 241 23.9% 23.0% 2Q24 2Q25 1H24 1H25 1H24 1H25 1H24 1H25 Note: € in Millions; All growth rates are in constant currency.
Slide 19: Merchandising & Other
Merchandising & Other 2Q25 REVENUE 1H25 REVENUE 1H25 ADJUSTED 1H25 ADJUSTED EBITDA EBITDA MARGIN -12.7% -10.0% NM -6.3pp € 227 € 341 € 305 € 192 € 18 5.3% Axis Title 2Q24 2Q25 1H24 1H25 -€ 3 -1.0% 1H24 1H25 1H24 Axis Title 1H25 Note: € in Millions; All growth rates are in constant currency.
Slide 20: Net Profit & EPS
Net Profit & EPS NET PROFIT(1) ADJUSTED NET EPS - BASIC ADJUSTED EPS - PROFIT DILUTED +56.7% +9.0% +56.0% +9.1% € 1,432 € 882 € 0.78 € 809 € 0.48 € 0.44 € 914 € 0.50 1H24 1H25 1H24 1H25 1H24 1H25 1H24 1H25 Note: Net Profit € Millions; All growth rates are as reported. (1) Net Profit reflects Net Pro
Slide 21: Strategic Organizational Redesign – Phase 2
Strategic Organizational Redesign – Phase 2 Strategy 2024 2025 2026 2027 • Enhance our capabilities in the areas most critical to our future growth and success Phase 1 • Empower labels and businesses with new capabilities and additional agility All Phase 1 Incremental Expect €40-€50M Expect actions
Slide 22: 1H25 Free Cash Flow
1H25 Free Cash Flow • €95m tax paid primarily to cover employee withholding tax on equity grants; lessens dilutive impact of equity plan • Catalog investments include certain catalogs which will be transferred to Chord vehicle in coming months +25.3% 169 YoY • Dividend policy: 50% of net profits adj
Slide 23: Q&A
Q&A Sir Lucian Grainge Chairman & Chief Executive Officer Boyd Muir Chief Operating Officer Michael Nash Chief Digital Officer Matt Ellis Chief Financial Officer
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