Reworld Media SA · EURONEXT:ALREW
Reworld Media SA — H1 2022 Earnings Presentation
30 slides from Reworld Media SA's earnings presentation, Sep 22, 2022
Slide 1: Results 1st Half 2022
RESULTS 1st HALF 2022 22 September 2022 CONTENT ● BRANDS ● TECHNOLOGIES
Slide 2: Preliminary Notice
PRELIMINARY NOTICE The information contained in this document, particularly that concerning the future performance objectives of Reworld Media Group, are forward-looking statements and may be subject to certain risks and uncertainties. Any references to past performance of Reworld Media Group should
Slide 3: Contents
CONTENTS 1ST HALF 2022 INTRODUCTION HIGHLIGHTS HALF-YEAR ACCOUNTS OUTLOOK CONTENT ● BRANDS ● TECHNOLOGIES
Slide 4: Introduction
1ST HALF 2022 INTRODUCTION 4
Slide 5: Solid performance in 1st half 2022
SOLID PERFORMANCE IN 1ST HALF 2022 REVENUE: €241.5 M EBITDA: €31.2 M NET INCOME: €17.1 M +6.3% 26.0% +5.1% 12.9% Stable 7.1% vs. H1 2021 International vs. H1 2021 margin vs. H1 2021 margin CASH: €113.6 M SHARE PRICE HEADCOUNT €27.9 M €6.8 M EURONEXT €356 M 1,150 11 countries in net debt Free cash fl
Slide 6: Affinity contents and strong brands
AFFINITY CONTENTS AND STRONG BRANDS FASHION, BEAUTY, WOMEN AUTO, SPORTS 13.6 million unique hits 8.6 million unique hits 10.0 million followers 7.4 million followers 4.1 million print readers 2.4 million print readers FOOD, HEALTH, WELL-BEING 64 brands SCIENCE, CULTURE active media 6.4 million uniqu
Slide 7: A unique and diverse media and technology platform
A UNIQUE AND DIVERSE MEDIA AND TECHNOLOGY PLATFORM PRODUCTION SOCIAL AND CONTENT MEDIA SEO, Brand Content, Consulting, production BTOC OPERATIONS BTOB OPERATIONS licences and brand and advertising platforms Other BTOC CONTENT TO E-commerce, Micro-training, COMMERCE LEADER IN THEMATIC MEDIA A MAJOR P
Slide 8: Growth in revenues and profitability on a disrupted market
GROWTH IN REVENUES AND PROFITABILITY ON A DISRUPTED MARKET Revenue (€M) EBITDA(1) (€M) Net income(2) (€M) +6.3% +5.1% +€14.4 M +€1.5 M Stable 241.5 227.1 29.6 31.2 200.7 17.1 17.1 15.5 0.6 H1-2020 H1-2021 H1-2022 H1-2020 H1-2021 H1-2022 H1-2020 H1-2021 H1-2022 7.7% 13.0% 12.9% 0.3% 7.5% 7.1% +5.2 pt
Slide 9: Rigour on BtoC and growth on BtoB
RIGOUR ON BTOC AND GROWTH ON BTOB BTOC (€M) BTOB (€M) -1.7% +31.6% +16.5% -€2.2 M +€4.3 M -17.2% +€16.6 M -€2.8 M 17.9 126.3 124.1 16.1 117.3 13.3 100.8 13.6 54.2% 42.7% 45.8% 57.3% H1-2021 H1-2022 H1-2021 H1-2022 12.7% 10.7% 13.5% 15.2% 55.6% 51.4% 44.4% 48.6% -2.0 pts +1.8 pts H1-2021 H1-2022 EBIT
Slide 10: Highlights
1ST HALF 2022 HIGHLIGHTS 10
Slide 11: Trend in main BtoC indicators
TREND IN MAIN BTOC INDICATORS BtoC BtoC No. 1 in paid press Subscription, active and Diversified revenue sources magazine in France development thrust 107 million 2.0 million 367 thousand 37 products Copies sold Paywall subscriptions, in publication for sale Paid subscriptions(2) in France(1) in 202
Slide 12: Development & diversification of the BtoC offer
DEVELOPMENT & DIVERSIFICATION OF THE BTOC OFFER BtoC Insurance products launch In connection with the Group's media themes, in particular Automotive and Home Sport En France celebrates its 3rd anniversary: 102 partner federations 615 event broadcasts More than 1,000 hours of live coverage More than
Slide 13: Positioning on a new vertical
POSITIONING ON A NEW VERTICAL BtoC Psychologies acquired on May 31st 1.3 million unique hits 1.9 million followers 1.6 million print readers TherHappy launch The on-line psychology consulting platform Sources: ACPM – One Next Global 2022 Study S1 – Audiences of Press brands – Readers in millions of
Slide 14: Rigorous management of BtoC operations
RIGOROUS MANAGEMENT OF BTOC OPERATIONS BtoC Revenue (€M) EBITDA(1) (€M) A well-controlled situation thanks to the Group’s ability and agility in increasing its -1.7% selling prices and rationalising its variable costs -€2.2 M -17.2% Historical inflationary context: 126.3 124.1 -€2.8 M Forecast > 5%
Slide 15: Good momentum on the communication market, ever more digital
GOOD MOMENTUM ON THE COMMUNICATION MARKET, EVER MORE DIGITAL BtoB 2022: market back to near-2019 levels The digital advertising market has doubled since 2016 In €bn in bn€ CAGR(1) excluding 2020: +1% CAGR(1) excluding 2020: +15% +10% +1% +8% +20% +2% +1% +2% 9.1 33.3 33.8 +17% 33.4 +13% +0% 8.2 32.6
Slide 16: Trend in key BtoB indicators
TREND IN KEY BTOB INDICATORS BtoB A major player in adtech and 6th-ranked digital media Top monthly increases in unique hits(1) communication Group in France 9.4 +64% 26.5 million 180,000 unique hits / month(1) Up by +7% 5.6 +14% affiliated web sites 4.5 +32% 3.7 +43% Nearly 2 billion Ranked 6th Gro
Slide 17: New monetisation drivers activated
NEW MONETISATION DRIVERS ACTIVATED BtoB Social Content Commerce Media platforms €1.2 billion(1) market in H1, still growing E-commerce and investment boom in Advertiser brands are increasingly (+27%). Recent monetisation opportunity editorial context with brand values to investing in their own media
Slide 18: Historically-high revenue and EBITDA levels in BtoB
HISTORICALLY-HIGH REVENUE AND EBITDA LEVELS IN BTOB BtoB Revenue (€M) EBITDA(1) (€M) +31.6% Strong growth in revenue (+16.5%) and +16.5% profitability (+31.6%) in H1 2022 +€4.3 M +€16.6 M The Group outperformed a growing advertising market in H1: 17.9 117.3 +13.2%(2) total 13.6 +17.3%(2) on Digital
Slide 19: Half-year accounts
1ST HALF 2022 HALF-YEAR ACCOUNTS 19
Slide 20: Consolidated income statement
CONSOLIDATED INCOME STATEMENT In €M H1-2022 H1-2021 Change (€m) Change (%) Revenue 241.5 227.1 14.4 +6.3% Operating charges (210.3) (197.4) (12.9) +6.5% EBITDA(1) 31.2 29.6 1.5 +5.1% Amortisation (2.0) (1.9) (0.1) +6.9% EBIT(1) 29.1 27.8 1.4 +5.0% Financial result (3.6) (2.4) (1.2) +48.1% Non-recurr
Slide 21: Simplified consolidated balance sheet
SIMPLIFIED CONSOLIDATED BALANCE SHEET In €M H1-2022 H1-2021 Change (€m) Fixed asset 247.9 243.1 4.7 Deferred tax assets 5.8 5.7 0.1 Current assets 129.1 138.2 (9.1) Cash and cash equivalents 113.6 122.9 (9.4) Assets 496.4 510.0 (13.7) Equity, Group share 150.8 135.1 15.7 Minority interests 13.6 14.3
Slide 22: Cash flow
CASH FLOW In €M H1-2022 H1-2021 EBITDA(1) 31.2 29.6 Change in working capital (11.3) (2.2) Operating cash flow 19.8 27.4 Tax paid (2.4) - Exceptional items paid (8.0) (7.6) Cash flow from operating activities 9.5 19.8 Cash flow from investing activities (2.7) (2.9) Free cash flow 6.8 16.9 Financing
Slide 23: Outlook
1ST HALF 2022 OUTLOOK 23
Slide 24: Ongoing acquisition of Unify's publisher activities from TF1 Group
ONGOING ACQUISITION OF UNIFY'S PUBLISHER ACTIVITIES FROM TF1 GROUP FASHION, BEAUTY, WOMEN 6.5 million 1.3 million 0.5 million Monthly UH(1) Monthly UH(1) Monthly UH(1) FOOD, HEALTH, WELL-BEING 17.6 million 6.2 million 0.3 million Monthly UH(1) Monthly UH(1) Monthly UH(1) TECH & GAMING 5.0 million 1.
Slide 25: Growth ambition
GROWTH AMBITION ORGANIC GROWTH EXTERNAL GROWTH Supporting the growth Ability to be selective of the digital market Enhancing Carry out significant product and service offers operations Price-maker, in a context that is Consolidation dynamic temporarily inflationary? on the market 25
Slide 26: Questions
1ST HALF 2022 QUESTIONS 26
Slide 27: Appendices
1ST HALF 2022 APPENDICES 27
Slide 28: Income statement by business line
INCOME STATEMENT BY BUSINESS LINE In €M H1-2022 H1-2021 Change (€m) Change (%) BtoC revenue 124.1 126.3 (2.2) -1.7% BtoB revenue 117.3 100.8 16.6 16.5% Revenue 241.5 227.1 14.4 +6.3% BtoC EBITDA 13.3 16.1 (2.8) -17.2% BtoC EBITDA margin 10.7% 12.7% -2.0 pts BtoB EBITDA 17.9 13.6 4.3 +31.6% BtoB EBIT
Slide 29: Contacts
CONTACTS 8 rue Barthélémy Danjou 92100 Boulogne Billancourt reworldmedia.com investisseurs@reworldmedia.com Follow us also on: Sponsor listing : Euroland Corporate Contact: Julia Bridger jbridger@elcorp.com Communication Contact: PCE - Ségolène de St Martin sdestmartin@p-c-e.fr CONTENT ● BRANDS ● TE
Slide 30: CONTENT ● BRANDS ● TECHNOLOGIES
CONTENT ● BRANDS ● TECHNOLOGIES