Slide 1: Presentation of Annual Results
PRESENTATION OF ANNUAL RESULTS
Slide 2: Disclaimer
DISCLAIMER D I S C L A I M E R Statements contained in this document, particularly those concerning forecasts on future M6 Group performance, are forward-looking statements that are potentially subject to various risks and uncertainties. Any reference to M6 Group past performance should not be inter
Slide 3: Presentation of 2021 Annual Results
PRESENTATION OF 2021 ANNUAL RESULTS PRESENTATION OF 2021 ANNUAL RESULTS INTRODUCTION OPERATIONS FINANCIAL STATEMENTS OUTLOOK 3
Slide 4: Introduction
I N T R O D U C T I O N INTRODUCTION 4
Slide 5: 2021 Highlights
2021 HIGHLIGHTS I N T R O D U C T I O N STRONG CONSUMER SPENDING CONTINUATION OF THE PANDEMIC Remote ANNOUNCEMENT Recovery in Lockdown working OF PROPOSED advertising MERGER Cinemas closed activity Health pass for 4.5 months SUCCESS OF CINEMA LINE-UP GROWTH OF STRONG BRANDS ACQUISITION OF MAJORITY S
Slide 6: Record performances surpassing pre-pandemic levels
RECORD PERFORMANCES SURPASSING KEY FIGURES (€ millions) PRE-PANDEMIC LEVELS 2019 2020 2021 I N T R O D U C T I O N RECORD HIGH +9.2% 1,456.1 +16.0% RECORD HIGH 1,390.4 +4.1% 1,273.6 SECOND HIGHEST 1,137.4 1,171.7 EVER 1,107.9 1,043.7 +28.0% 980.5 1,002.9 346.7 +1.5% 284.4 280.8 270.7 276.6 326.5 327
Slide 7: EBITA outperformed every quarter vs. pre-COVID levels
IN A YEAR OF REINVESTMENT IN CONTENT, EBITA OUTPERFORMED EVERY QUARTER I N T R O D U C T I O N KEY FIGURES (€ millions) 2021 VS. PRE-COVID LEVELS 2019 2020 PROFIT FROM RECURRING OPERATIONS (€ millions) Q4 2021 OPERATING MARGIN 28.2% +20.9% +19.8% +0.2% 132.4 +70.9% 123.2 100.8 102.0 84.1 64.2 64.3 5
Slide 8: Audience Ratings
O P E R A T I O N S RATINGS AUDIENCE 88
Slide 9: 2021: Use of the TV screen is diversifying
2021: USE OF THE TV SCREEN IS DIVERSIFYING R A T I N G S M6 GROUP STRENGTHENED ITS PRESENCE IN ALL MARKETS POTENTIAL OF ITS ON-DEMAND SERVICES A U D I E N C E TV SCREEN Breakdown of time spent - Other uses 17% 20% 21% T E L E V I S I O N usages Year-on-year 0h54 0h42 0h56 Other uses +2 min 4+ LIVE 3
Slide 10: 2021: Record year on the commercial target
2021: RECORD YEAR ON R A T I N G S 4+ AUDIENCE 28.9 THE COMMERCIAL SHARE (%) (excl. 28.9 TARGET france.info) A U D I E N C E 27.2 26.8 GROUP AUDIENCE SHARES FOR 4+ 14.3 - AND WRP<50 CATEGORIES (%) 14.6 T E L E V I S I O N 6.8 2020 2021 6.3 WRP<50 33.5 AUDIENCE 32.4 SHARE (%) 22.8 22.7 16.4 (excl. 15
Slide 11: 2021 M6 Group has never been so successful
R A T I N G S 2021 M6 GROUP HAS NEVER BEEN SO SUCCESSFUL A U D I E N C E BEST SEASON EVER 14.3% 22.8% FOR THE GROUP 2021 4+ AUDIENCE WRP <50 - AMONGST WRP<50 T E L E V I S I O N SHARE AUDIENCE SHARE Group with the best year-on-year growth amongst 25-49 year olds MORNING (9AM-1PM) ACCESS PRIMETIME (7
Slide 12: Daytime M6 gaining ground
DAYTIME M6 GAINING GROUND R A T I N G S +45% 4+ A U D I E N C E DRIVEN BY THE Ça peut vous arriver SUCCESS OF AUDIENCE SHARE NEW achieved significant ITS NEW MORNING growth since its launch SCHEDULE on TV in late 2020 +50% WRP<50 - AUDIENCE SHARE T E L E V I S I O N Annual impact Simulcast for M6 wi
Slide 13: Access primetime M6 at 9-year high among under 50s
R A T I N G S ACCESS PRIMETIME M6 AT 9-YEAR HIGH AMONGST THE UNDER 50s MONDAY-FRIDAY 15.6% A U D I E N C E 5.30–9PM - T E L E V I S I O N 16% WRP<50 16% WRP<50 22% WRP<50 Most-watched 0.9 M 2.3 M 2.9 M daily drama AT 5.30PM 7-year high in the 4M this year during the season WRP<50 category every week
Slide 14: Primetime M6 gaining ground
PRIMETIME M6 GAINING GROUND R A T I N G S A U D I E N C E WRP <50 THANKS ESPECIALLY TO AUDIENCE SHARE ITS LONG-STANDING 18.6% 9.10PM–10.50PM ENTERTAINMENT BRANDS - T E L E V I S I O N Record season Best season in 5 2nd best ever season Best ever season for WRP<50 years for WRP<50 for WRP<50 for WRP<
Slide 15: Primetime M6 gaining ground: new shows and football
PRIMETIME M6 GAINING GROUND R A T I N G S A U D I E N C E SUCCESS OF NEW SHOWS - T E L E V I S I O N AND SUCCESS IN FOOTBALL 6.7M viewers on average for every match Up to viewers for the APPEL FRANCE v GERMANY À TÉMOINS 15.2M match viewers for the final 11.8M ITALY v ENGLAND 3.7M° 2.4M 2.7M viewers
Slide 16: DTT Audience Ratings
T E L E V I S I O N - A U D I E N C E R A T I N G S RATINGS DTT AUDIENCE 16 16
Slide 17: W9, 6ter and Gulli continued to perform well
W9, 6TER AND GULLI CONTINUED TO PERFORM WELL R A T I N G S ON THE COMMERCIAL TARGET A U D I E N C E 4+ audience 3.0 3.0 2.9 2.9 D T T 2020 2021 share (%) 2.6 2.5 2.6 2.6 2.3 2.0 2.0 1.8 1.9 – 1.7 1.6 1.5 1.5 1.5 1.6 1.4 1.5 1.3 1.2 1.3 1.2 1.3 1.2 1.2 1.1 1.1 1.2 T E L E V I S I O N 1.1 1.1 0.8 4.5
Slide 18: The Group's DTT channels confirmed their strength
R A T I N G S Some of the most popular reality TV, drama, sport and magazine shows on DTT A U D I E N C E 2ND PLACED DTT CHANNEL FOR WRP<50 D T T – THE GROUP’S DTT T E L E V I S I O N A varied range of programmes for 53+ films with more CHANNELS the whole family than 0.5M viewers CONFIRMED THEIR STR
Slide 19: Pay-TV Channel Audience Ratings
T E L E V I S I O N - A U D I E N C E R A T I N G S PAY-TV RATINGS CHANNEL AUDIENCE 19
Slide 20: Paris Première and Téva, two of the most popular pay-TV channels
R A T I N G S 2021 national audience share (inc. summer) 0.56% 0.58% A U D I E N C E Upper socio- 4+ professionals C H A N N E L S 2ND BEST YEAR EVER - OVER 4s AND UPPER Most watched 2021: PARIS PREMIÈRE SOCIO- pay-TV channel AND TÉVA, TWO OF THE P A Y PROFESSIONALS MOST POPULAR PAY-TV T E L E V I S
Slide 21: Audience Ratings
T E L E V I S I O N - A U D I E N C E R A T I N G S RATINGS AUDIENCE 21 21
Slide 22: Impressive audiences for 6play
IMPRESSIVE AUDIENCES FOR 6PLAY, WHICH R A T I N G S CONTINUED TO GROW IN AVOD A U D I E N C E C H A N N E L S P A Y On-demand extension of channels 28.5M 530 M T E L E V I S I O N – active users in hours viewed 2021 Increase in appeal of ’s advertising offering Development of the “Extended” offering
Slide 23: Radio Audience Ratings
R A D I O - A U D I E N C E R A T I N G S RATINGS AUDIENCE 23 23
Slide 24: Radio Division remains the leading private radio group in France
THE RADIO DIVISION REMAINS THE LEADING R A T I N G S PRIVATE RADIO GROUP IN FRANCE A U D I E N C E Audience shares by private group (%) - R A D I O -0.6pp 18.2 +0.2pp +0.5pp 13.8 -0.7pp 12.3 -0.1pp 8.5 5.6 NRJ Group TF1 Publicité Radios Lagardère RMC (4 stations) (130 stations (3 stations) + M Radio
Slide 25: Relevant positioning of the Radio Division's stations
R A T I N G S No 1 12.5% A U D I E N C E audience share radio station in France among 13+ - R A D I O RELEVANT POSITIONING 2nd 2.8% OF THE RADIO placed breakfast show in the 13+ and audience share DIVISION’S STATIONS 25-49 year-old categories among 13+ Leader 3.0% in the young adult audience share s
Slide 26: Complementary stations helping to reach a wide audience
R A T I N G S 3 COMPLEMENTARY STATIONS HELPING TO REACH A WIDE AUDIENCE: ALMOST 10 MILLION FRENCH PEOPLE EVERY DAY A U D I E N C E - R A D I O 20% contribution via 21% contribution via 12% contribution via digital media digital media digital media 48% in-car listening 45% in-car listening 66% at-hom
Slide 27: Advertising Market
A D V E R T I S I N G M A R K E T ADVERTISING 27 27
Slide 28: Advertising upturn in H1 continued in H2
THE UPTURN IN ADVERTISING SEEN IN H1 I N T R O D U C T I O N CONTINUED IN H2 DESPITE MORE KEY FIGURES (€ millions) 2021 CHALLENGING COMPARISON BASES 2019 2020 Quarterly advertising revenue (€ millions) +4.3% +75.6% 368.9 353.6 348.1 +5.9% +1.6% 289.7 279.8 259.4 235.6 239.4 239.5 226.2 220.5 165.0 Q
Slide 29: M6 Group's advertising revenue driven by economic recovery
M6 GROUP’S ADVERTISING REVENUE M A R K E T DRIVEN BY THE ECONOMIC RECOVERY AND THE RELEVANCE OF ITS MULTIMEDIA OFFERING A D V E R T I S I N G TV +17.5% M6 Group net advertising revenue (€ millions) 975.0 930.4 829.5 +16.0% 2019 2020 2021 1,107.9 980.5 1,137.4 Other operations +7.6% 177.5 151.0 162.5
Slide 30: M6 sales house gained ground on the traditional TV market
M6 GROUP’S SALES HOUSE GAINED GROUND ON THE TRADITIONAL TV M A R K E T MARKET, ENABLING IT TO MAINTAIN A STRONG POSITION (ALTHOUGH IN GRADUAL DECLINE) ACROSS THE ENTIRE VIDEO MARKET A D V E R T I S I N G Change in M6 Group net TV advertising market share M6 Group net Video** since 2019 advertising m
Slide 31: TV & Radio Key Figures
T V & R A D I O - K E Y F I G U R E S KEY FIGURES 31 31
Slide 32: TV: Profitability increased to record levels
TV: PROFITABILITY INCREASED TO RECORD LEVELS F I G U R E S Revenue (€ m) EBITA (€ m) K E Y Recovery of - advertising market T E L E V I S I O N +€163.8m TV advertising revenue: +€60.6m up €145.5 m 927.9 1,091.8 1,013.6 286.2 927.9 Resumption of investments in 271.7* programmes (especially 223.6 225.
Slide 33: Radio: Growth in revenue converted into EBITA
RADIO: GROWTH IN REVENUE CONVERTED INTO EBITA F I G U R E S K E Y Revenue (€ m) EBITA (€ m) - R A D I O +€10.5 m +€10.5 m 171.0 35.8 927.9 157.1 Recovery of advertising market 30.1 32.4 146.6 exc. state 21.9 support 2019 2020 2021 Cost control Operating margin from recurring operations 17.6% 14.9% 2
Slide 34: Rights & Audiovisual
T V & R A D I O - K E Y F I G U R E S RIGHTS & AUDIOVISUAL 34 34
Slide 35: Rights & Audiovisual: Improved profitability
Disposal of rights IMPROVED PROFITABILITY R I G H T S Resilience of the activity thanks to the catalogue’s power, helping to maintain a good level of profitability A U D I O V I S U A L Revenue (€ m) -2.8% 75.1 Cinema 62.4 60.6 Films performing better than expected against a backdrop of public & hea
Slide 36: Diversification
O T H E R D I V E R S I F I C A T I O N DIVERSIFICATION 36 36
Slide 37: Good performance of diversification activities
GOOD PERFORMANCE OF DIVERSIFICATION DECONSOLIDATED ACTIVITIES (STRATEGIC REFOCUSING SINCE 2018) D I V E R S I F I C A T I O N ACTIVITIES FOLLOWING REFOCUSING OF PORTFOLIO TRANSFER IN DISPOSAL MARCH 2020 ON 1 OCTOBER Revenue (€ m) 2020 196.1 +3.1%* 135.8 79.9 CONTINUING OPERATIONS 80.4* 77.5* 2019 20
Slide 38: Financial Statements
F I N A N C I A L S T A T E M E N T S FINANCIAL STATEMENTS 38
Slide 39: Condensed Consolidated Statement of Comprehensive Income
S T A T E M E N T S CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 2021 / 2020 change M6 Group 31 December 2020 31 December 2021 (€ millions) F I N A N C I A L Revenue 1,273.6 1,390.4 116.8 Other operating revenues 14.7 45.4 30.7 Total operating revenues 1,288.2 1,435.7 147.5 Materials and
Slide 40: Condensed Balance Sheet
S T A T E M E N T S CONDENSED BALANCE SHEET F I N A N C I A L 2021 / 2020 change M6 Group 31 December 2020 31 December 2021 (€ millions) Goodwill 282.2 332.5 50.3 Non-current assets 535.7 536.2 0.6 Current assets 846.6 813.4 (33.2) Cash and cash equivalents 197.0 349.0 152.0 Assets held for sale(2)
Slide 41: Cash Flow Statement
S T A T E M E N T S CASH FLOW STATEMENT 2021 / 2020 M6 Group 31 December 2020 31 December 2021 change (€ m) F I N A N C I A L Self-financing capacity from operations 354,0 441.3 87.3 Operating WCR movements (8.2) 73.4 81.6 Income tax (99.2) (59.2) 40.0 Cash flow from operating activities 246.6 455.4
Slide 42: Proposed dividend of €1.00 per share
S T A T E M E N T S PROPOSED DIVIDEND OF €1.00 PER SHARE F I N A N C I A L Yield (calculated based on Pay-out ratio (as % of net profit Dividend per share the year-end closing price) from continuing activities paid for the year attributable to the group) 42
Slide 43: Outlook
O U T L O O K OUTLOOK 43
Slide 44: 2022 Challenges
O U T L O O K 2022 CHALLENGES Support the recovery in advertising and develop the segmented TV offering Increase the appeal of the Group’s range of content Continue to develop on-demand services Develop the drama production activity Achieve the merger Continue the development of in-house synergies b
Slide 45: Questions
Q U E S T I O N S • A N S W E R S QUESTIONS 45 45