Slide 1: Time Out Group plc Results for the year ended 30 June 2024
Time Out Group plc Results for the year ended 30 June 2024
Slide 2: Unmatched city authority built over 55+ years
Timeline of the transformation from a UK print business to a multi-platform global brand Unmatched city authority built over 55+ years First Time Out NY Launch Digital Media Monthly Increasing Time Out kicks off of transition Media global Media London global media digital completed audience deals ac
Slide 3: FY24 Highlights
FY24 Highlights Platform built for global growth FY24 Results above consensus • Net revenue £79m +7%1, Ebitda £8.5m (Pre IFRS16) +770% YoY growth Operational Highlights • 3 new Markets, 9 now open, 7 more by FY27 • Larger media advertising deals at higher margins • Out of Home advertising live in Ne
Slide 4: Financial Highlights
Financial Highlights Improving Ebitda 12 months ended 30 June 2024 (£m) Group Markets Media Like for Like +7% +4% +11% Net revenue growth(1) LFL(1) LFL(1) LFL(1) 42.8 42.8 33.1 36.9 35.9 76.0 78.7 26.4 55.4 28.9 Reported Net revenue £m FY22 FY23 FY24 FY22 FY23 FY24 FY22 FY23 FY24 4.7 8.5 8.7 Adjuste
Slide 5: Performance Progression since FY21
Performance Progression since FY21 Time Out turnaround driving profitable growth trajectory Net Revenue £m Adjusted EBITDA (pre-IFRS 16) £m Consensus £8.0m Adjusted Ebitda FY23 FY24 Pre IFRS16 (IAS17) 1.1 8.5 Post IFRS16 5.3 12.4 76 79 8.5 55 1.1 38 (2.5) (25) £m FY21 FY22 FY23 FY24 £m FY21 FY22 FY2
Slide 6: Business Model: One Time Out
Business Model: One Time Out The best of the city online and in real life CURATION OF THE BEST OF THE CITY AUTHORITY ATTRACTS PARTNERS 1 Editorial curation of the best of the city. The brand reputation Since 1968,built over 55+a 2 Unmatched expertise: we’ve built Brand researchOurshows that audience
Slide 7: Markets
Markets FY24 successes inform growth plan Total Consumer Spend1 of £125m Net Revenue +7%, Ebitda +53% 9 Markets open, minimum 7 more by FY27 • Cape Town, Porto, Barcelona now open • Bahrain, Osaka, Budapest and Vancouver in next 12 months Growth drivers / Outlook Sign new Markets: • Focus on top 50
Slide 8: Markets are entering a faster growth period
Markets are entering a faster growth period Acceleration in rate of market openings, each with potential for high CAGR FY14 to FY21: seven markets opened, an average of one per year, with high revenue CAGR1 in initial years of trading: Average Gross Revenue Index: Year one = 100 350 300 250 200 150
Slide 9: Market: Signed Pipeline
Market: Signed Pipeline Growth from 6 Markets in FY23 to 16 Markets by FY27 Based on currently signed agreements SIGNED OWNED & FY27 MANAGEMENT OPERATED AGREEMENTS MARKETS FY26 RIYADH PRAGUE ABU DHABI FY25 BUDAPEST BARCELONA FY24 BAHRAIN OSAKA CAPE PORTO TOWN VANCOUVER FY21 FY22 FY19 FY20 DUBAI FY23
Slide 10: A Global Brand
A Global Brand High footfall locations in the cities with greatest appeal to global advertisers LONDON PRAGUE VANCOUVER MONTREAL MADRID PARIS CROATIA NEW YORK, BOSTON MARSEILLES CHICAGO PHILADELPHIA PORTO ISTANBUL SAN FRANCISCO BARCELONA BEIJING LAS VEGAS WASHINGTON (DC) LISBON TOKYO LOS ANGELES ATL
Slide 11: Media
Media Increasing scale drives Ebitda margin FY24 Highlights • Improving quality of revenues: higher-margin, larger deals ⁻ Sales +10%, Ebitda +100% YoY ⁻ Largest ever global deal with Coca-Cola • 150m audience, +8%, driving advertising revenue Growth Drivers / Outlook • Out of home; a material new r
Slide 12: One Time Out
One Time Out Marketing solutions sold across digital and in-real-life channels Growth drivers: Out of home advertising: - Live in New York, (£0.1m revenue in first month) - Roll out to all markets - Potential 50m+ audience by FY27 Move to a single business unit with duplication removed - Opex reduct
Slide 13: Financial Statements
Financial Statements
Slide 14: P&L
P&L Year ended 30th June, 2023 2024 Change £m • Like for like gross revenues in constant currency grew Like-for-like Gross revenue in constant 100.1 106.6 +7% +7% YoY currency • Market net revenue +4% like for like in constant FX Market net revenue 42.8 42.8 - • Media net revenue +11% YoY in constan
Slide 15: Cashflow
Cashflow Year ended 30th June 2023 2024 £m Cash generated from/ (used in) operations 4.7 12.6 Interest paid (1.0) (1.8) Tax paid (0.4) (1.1) Net cash generated from operating activities 3.3 9.7 Purchase of property, plant and equipment (2.0) (9.8) Purchase of intangible assets (0.9) (0.8) Interest r
Slide 16: Cash and Debt
Cash and Debt Year ended 30th June, 2023 2024 £m Cash and cash 5.1 5.9 equivalents Borrowings (29.9) (38.9) Adjusted net debt (24.8) (33.0) IFRS 16 liabilities (25.0) (25.0) Net debt (49.7) (57.9) 1) £30m loan with Crestline LLP repayable November 2026 with £10m undrawn “increase facility” Cash inte
Slide 17: Balance Sheet
Balance Sheet £m 30 June 2023 30 June 2024 Non-current assets Intangibles assets – Goodwill 29.5 29.3 Intangible assets – Other 6.8 5.8 Property, plant and equipment 26.2 30.8 Right-of-use assets 17.8 17.1 Trade and other receivables 4.0 4.7 Deferred tax asset - 4.1 84.3 91.6 Current assets Inventor
Slide 18: Thank you
Thank you imac THE BEST OF THE CITY