Sto Se & Co. Kgaa Vorz-inhaber-akt Ohne Stimmrecht · XETR:STO3
Sto Se & Co. Kgaa Vorz-inhaber-akt Ohne Stimmrecht — Sto SE & Co. KGaA — Q2 2020 Earnings Presentation
33 slides from Sto Se & Co. Kgaa Vorz-inhaber-akt Ohne Stimmrecht's earnings presentation, Aug 13, 2020
Slide 1: Q2 2020 – Through the Crisis
Q2 2020 – Through the Crisis August 13th, 2020 | Ströer SE & Co. KGaA
Slide 2: Index
INDEX 01 02 03 04 05 Strategic Business Update Financial Status Sustainability Outlook Reassurance Report 2
Slide 3: Results 6M 2020 Continuing Operations
Results 6M 2019 Continuing Operations m€ 6M 2020 6M 2019 ▲ Reported 632.4 743.5 -15% Revenues Organic(1) -14.3% 7.6% -21.9%pts EBITDA (adjusted) 185.5 255.8 -27% EBIT (adjusted) 39.4 116.8 -66% Net income (adjusted)(2) 22.1 86.0 -74% Operating cash flow 153.2 176.1 -13% Capex 63.8 46.8 +36% Note: Di
Slide 4: Recap from May Message: Strong Position in recovering Environment
Recap from May Message: Strong Position in recovering Environment One Market Focus | very resilient “PLUS” Businesses | Focus on Cash/Cost Q2 Key Messages for Q2 Beyond Crisis Focus on one resilient country Germany allows tight management & control of operations in crisis situation Robust OoH+ Model
Slide 5: Business Development in Q2 vs. Expectations
Business Development in Q2 vs. Expectations (mid of May) Total Group ~8 Points better than expected & beginning Recovery Momentum OoH Media Digital OoH & Content Direct Media ____ ____ ____ IX vs. PY Guidance Results IX vs. PY Guidance Results IX vs. PY Guidance Results Q2 ~ 50 50 Q2 ~ 70 78 Q2 ~ 75
Slide 6: German Mobility is strongly recovering already since May (1)
German Mobility is strongly recovering already since May (1) Roadside Traffic (Cars/Pedestrians) normalized; Public Transport getting there 160 Almost all federal states 140 close daycare centers and schools 120 Introduction of the obligation to wear masks 100 Nationwide 80 exit restrictions 60 40 A
Slide 7: German Mobility is strongly recovering already since May (2)
German Mobility is strongly recovering already since May (2) Less dramatic Drop, faster Recovery, Benefits of federal Country Structure Germany already close to pre-crisis level Significantly faster recovery also at city level 140 140 120 120 100 100 80 80 60 60 40 40 20 20 0 0 1 2 3 4 5 6 7 8 9 10
Slide 8: Index
INDEX 01 02 03 04 05 Strategic Business Update Financial Status Sustainability Outlook Reassurance Report 8
Slide 9: Weekly Orderbook Development – Q2 2020 vs. Q2 2019
Weekly Orderbook Development – Q2 2020 vs. Q2 2019 Peak of Crisis Week 11-18 | Public Video more responsive Classic OoH formats: Revenue inflow for Q2 Public Video: Revenue inflow for Q2 Q2 Q2 30.000 105.000 25.000 85.000 20.000 65.000 15.000 45.000 10.000 25.000 5.000 5.000 0 (15.000) (5.000) 1 2 3
Slide 10: Weekly Orderbook Development – Q3 2019 vs. Q3 2020
Weekly Orderbook Development – Q3 2019 vs. Q3 2020 Stable Recovery since Week 24/25 | PV more responsive in both Directions Classic OoH Formats: Revenue inflow for Q3 Public Video: Revenue inflow for Q3 Q3 Q3 30.000 105.000 25.000 ? 85.000 20.000 ? 65.000 15.000 45.000 10.000 25.000 5.000 5.000 0 (1
Slide 11: Marketing Initiatives (1): Keeping Momentum for Out of Home
Marketing Initiatives (1): Keeping Momentum for Out of Home Amongst Clients, across Sales Teams, out on the Street OoH with strong momentum Sales driven spirit Several charity campaigns More than 40 video interviews with industry experts from all over the world: 11
Slide 12: Marketing Initiatives (2): Strong Proofs for OoH + Online Media
Marketing Initiatives (2) : Strong Proofs for OoH + Online Media Synopsis of 250 Marketing Mix Modellings with OoH Association and Omnicom Scource: Annalect Synopsis of more than 250 econometric Models 12
Slide 13: Marketing Initiatives (3): Focus on Broad Range of OoH Solutions
Marketing Initiatives (3): Focus on Broad Range of OoH Solutions Adopting OoH Plans to Covid-driven smaller Changes of mass Mobility 225,000 5,000 Classic OoH Sites Public Video Screens 70,000 Digital Signage Screens More than 420,000 > 120,000 touchpoints Ambient Media Touchpoints 13
Slide 14: Globally unique OoH+ Strategy with One-Market-Focus
Globally unique OoH+ Strategy with One-Market-Focus Recovery started & all long-term Growth Drivers fully intact after Q2! From „red“ in Q2 to „yellow“ in Q3 Robust advertising Proprietary tech stack Potential for growth market vs. economic & strong programmatic due to declining deviations in German
Slide 15: Index
INDEX 01 02 03 04 05 Strategic Business Update Financial Status Sustainability Outlook Reassurance Report 15
Slide 16: Profit and Loss Statement Q2 2020
Profit and Loss Statement Q2 2020 Continuing Operations m€ Q2 2020 Q2 2019 ▲% Revenues 264.1 392.7 -33% EBITDA (adjusted) 61.8 139.3 -56% Exceptional items -10.6 -5.7 -84% EBITDA 51.3 133.5 -62% Depreciation & Amortization* -93.7 -90.3 -4% EBIT -42.5 43.2 n/a Financial result* -8.4 -7.0 -20% Tax res
Slide 17: Free Cash Flow Perspective Q2 2020
Free Cash Flow Perspective Q2 2020 Continuing Operations m€ Q2 2020 Q2 2019 Comment EBITDA (adjusted) 61.8 139.3 Strong cashflow performance in Q2 due to high payment - Exceptional items -10.6 -5.7 discipline in a challenging market environment EBITDA 51.3 133.5 Free Cashflow adj. close to previ
Slide 18: Segment Perspective Q2 2020 – Financials fully hit by Corona Crisis
Segment Perspective Q2 2020 – Financials fully hit by Corona Crisis Continuing Operations OoH Media Digital OoH & Content Direct Media Org. growth m€ -51.0% Org. growth Q2 2019 -22.2% Q2 2020 180.8 Org. growth -11.7% Margin 140.9 28.4% 108.0 Margin 88.6 83.9 30.5% 81.2 Margin 71.1 10.5% 48.4 25.2 33
Slide 19: Core Business Development Strategy remains unchanged
Core Business Development Strategy remains unchanged Digitalization of OoH Diversification of sales forces Leverage of proprietary (national, regional, local) technological advantages 19
Slide 20: Index
INDEX 01 02 03 04 05 Strategic Business Update Financial Status Sustainability Outlook Reassurance Report 20
Slide 21: Ströer publishes a Sustainability Report for the first Time
Ströer publishes a Sustainability Report for the first Time The profitable combination of economics and ecology is an exciting, serious and long-term challenge that we are taking up. Particularly as a family-owned company. Udo Müller, Co-CEO Ströer SE & Co. KGaA 21
Slide 22: Sustainability Strategy 2030
Sustainability Strategy 2030 Environment Social Governance e.g. Greened bus shelters e.g. Staff development & training e.g. Supervisory Board Composition Ströer’s efforts to further enhance Importance of social issues Good corporate governance as a environmental friendliness Ströer plans to further
Slide 23: Sustainability: Our next Steps
Sustainability: Our next Steps Raise Create and awareness track KPIs Sustainability Sustainable Continuous Strategy 2030 management reporting around the even in crises sustainability report 23
Slide 24: Index
INDEX 01 02 03 04 05 Strategic Business Update Financial Status Sustainability Outlook Reassurance Report 24
Slide 25: Ströer Group's Key Performance Indicators – Guidance Q3/2020
Ströer Group’s Key Performance Indicators – Guidance Q3/2020 Based on our orderbook visibility (July/August), we expect further recovery of our business and revenues in the range of IX 80-85 versus previous year, for the third quarter 2020 for the group. 25
Slide 26: Financial Calendar 2020
Financial Calendar 2020 Q2 2020 Q3 2020 Q4 2020 Q4 2020 November 12th Publication of November 4th Q3 Quarterly Statement Annual General Meeting August 13th (virtual) Publication of Half-Yearly May 12th Financial Report Publication of Q1 Quarterly Statement 26
Slide 27: Slide 27
Slide 28: Disclaimer
Disclaimer This presentation contains “forward looking statements” regarding Ströer SE & Co. KGaA (“Ströer”) or the Ströer Group, including opinions, estimates and projections regarding Ströer’s or the Ströer Group’s financial position, business strategy, plans and objectives of management and futur
Slide 29: Appendix
Appendix 29 || Smom
Slide 30: Profit and Loss Statement 6M 2020
Profit and Loss Statement 6M 2020 Continuing Operations m€ 6M 2020 6M 2019 ▲% Revenues 632.4 743.5 -15% EBITDA (adjusted) 185.5 255.8 -27% Exceptional items -12.2 -13.5 +10% EBITDA 173.2 242.3 -28% Depreciation & Amortization* -179.2 -173.4 -3% EBIT -5.9 68.9 n/a Financial result* -14.8 -14.5 -2% Ta
Slide 31: Free Cash Flow Perspective 6M 2020
Free Cash Flow Perspective 6M 2020 Continuing Operations m€ 6M 2020 6M 2019 EBITDA (adjusted) 185.5 255.8 - Exceptional items -12.2 -13.5 EBITDA 173.2 242.3 - Interest -11.2 -13.5 - Tax -11.4 -23.6 -/+ WC +1.4 -20.7 - Others +1.2 -8.3 Operating Cash Flow 153.2 176.1 Investments (before M&A) -63.8 -4
Slide 32: Segment Perspective 6M 2020
Segment Perspective 6M 2020 Continuing Operations OoH Media Digital OoH & Content Direct Media Org. growth m€ -25.9% Org. growth 6M 2019 -6.9% 6M 2020 323.8 Org. growth Margin 266.0 -5.2% 240.2 38.0% 245.1 Margin 33.6% 170.6 158.5 146.6 Margin 14.0% 91.3 92.4 82.4 25.3 22.3 Revenues EBITDA adj. Reve
Slide 33: Free Cash Flow Bridge Q2 2020
Free Cash Flow Bridge Q2 2020 Continuing Operations m€ -5.7 24.1 18.4 +15.3 +17.9 -82.3 +60 decrease in WC assets +43.5 -17 decrease in WC liabilities FCF adj. Change in Change in Change in Change in FCF adj. Q2 2019 EBITDA WC Others Interest, Tax, Q2 2020 Capex, Lease Repayments 33