Television Francaise 1 Sa · EURONEXT:TFI
Television Francaise 1 Sa — TF1 Group — H1 2025 Earnings Presentation
46 slides from Television Francaise 1 Sa's earnings presentation, July 2025
Slide 1: Investor presentation Post H1 2025 results
Investor presentation Post H1 2025 results TOUT POUR LA LUMIÈRE
Slide 2: Disclaimer
Disclaimer This presentation contains rounded figures and contains forward-looking information and statements about the TF1 group. Forward-looking statements are statements that are not historical facts, and include, but are not limited to: financial projections, forecasts and estimates and their un
Slide 3: Agenda
01. Who we are P.4 02. Strategy update P.8 03. H1 2025 financials P.15 04. Segment deep dive P.21 05. Extra-financial performance P.31 06. Share information P.35 07. Appendix P.37 3 INVESTOR PRESENTATION
Slide 4: Who we are
01. Who we are BONJOUR! TF1’S MORNING SHOW
Slide 5: TF1 group's history
1987 TF1 group’s history The Bouygues group becomes reference shareholder of the 2018 TF1 channel 2025 2022 First distribution agreements signed with the French telecom Newen Studios becomes The TF1 group finalizes the sale of the operators Launch of a micro-payment offer on UNIFY Publishers busines
Slide 6: TF1 Group's activities: broadcasting, streaming and production
TF1 Group’s activities: broadcasting, streaming and production Media 2024 REVENUE 2024 REVENUE BROADCASTING, STREAMING, CONTENT PRODUCTION OTHER ACTIVITIES €2bn & DISTRIBUTION €345m FTA CHANNELS DRAMA / SCRIPTED THEME CHANNELS ENTERTAINMENT STREAMING SERVICES ASSOCIATED TV MOVIES ANIMATION DOCUMENTA
Slide 7: H1 2025 Highlights
H1 2025 Highlights STABLE AD REVENUE CONTINUED STRONG CONSOLIDATED IMPACTED BY MACRO MOMENTUM FOR Leadership maintained REVENUE UNCERTAINTIES Group revenue Group advertising revenue Digital advertising revenue W<50PDM 25-49 YO €1,103m €782m +41.4% 33.7% 30.7% -0.1% vs H1 2024 -2.5% vs H1 2024 vs H1
Slide 8: Strategy update
02. Strategy update DANSE AVEC LES STARS
Slide 9: Ambition: primary premium destination for family entertainment
Establish the group as the primary premium destination on TV screens Ambition for family entertainment and quality news in French 9 * New brand name of Newen Studios starting March 2025 INVESTOR PRESENTATION
Slide 10: Strategy
Strategy Strengthen the group’s leadership in the linear advertising market Become the leading free streaming platform in France and in French-speaking markets * Reinforce Studio TF1’s position on the international stage by leveraging TF1 brand’s appeal 10 * New brand name of Newen Studios starting
Slide 11: Market momentum: a strategic opportunity
Market momentum: a strategic opportunity VIDEO CONSUMPTION “ON-DEMAND” THE VIDEO ADVERTISING SHIFTS TO “ON-DEMAND” CONSUMPTION IS DRIVEN MARKET IS GROWING BY THE TV SCREEN STRONGLY IN FRANCE TV viewing time + long format video 1 Share of TV screen in on-demand Video advertising market 3 long-format
Slide 12: Linear: gain market share in a flattish TV ad market
Linear: gain market share in a flattish TV ad market THROUGH VOLUME Through a distinctive WITH OUR POWERFUL FRANCHISES GENERATING LEADING SHARE pricing strategy OF PREMIUM AD INVENTORIES ON COMMERCIAL TARGETS ENTERTAINMENT FRENCH DRAMA WOMEN’S SPORTS 2025 Serialized franchises Wide universe of new h
Slide 13: Gain market share in a growing digital video ad market
gain market share in a growing digital video ad market ESTABLISH TF1+ as the premium alternative to YouTube FOR VIEWERS FOR ADVERTISERS EXPANSION IN AGGREGATION DATA-ENRICHED NEW AD FORMATS FRENCH-SPEAKING STRATEGY AD INVENTORIES MARKETS Improve ad tech stack to address advertisers’ needs from brand
Slide 14: Reinforce Studio TF1's position on the international stage
Reinforce ‘s position on the international stage NEWEN STUDIOS REBRANDS AS STUDIO TF1 (EFFECTIVE STARTING MARCH 2025) Increase studios' International profile with a focus on developing intellectual property (IP) with global appeal. Strengthen synergies with the media segment notably with the launch
Slide 15: H1 2025 financials
03. H1 2025 financials SECRET STORY
Slide 16: Consolidated revenue per segment
Consolidated revenue per segment (€m) Q2 2025 Q2 2024 CHG.% H1 2025 H1 2024 CHG.% MEDIA • Advertising revenue impacted by Media 514 530 (3.2%) 975 984 (0.9%) macro uncertainties; EURO 2024 base effect Advertising revenue 419 438 (4.4%) 782 802 (2.5%) • Continued strong momentum for TF1+, with advert
Slide 17: Current operating profit from activities per segment
Current operating profit from activities per segment (€m) Q2 2025 Q2 2024 CHG. H1 2025 H1 2024 CHG. MEDIA • Stable COPA in H1 in a challenging Media 81 88 (8) 125 125 0 o/w programming costs advertising market (230) (242) +12 (451) (459) +8 • Premium programming maintained; programming costs down €8
Slide 18: Consolidated income statement
Consolidated income statement (€m) Q2 2025 Q2 2024 CHG. H1 2025 H1 2024 CHG. Consolidated revenue 583 592 (1.6%) 1,103 1,104 (0.1%) Total costs of programmes (230) (242) +12 (451) (459) +8 Other charges, depreciation, amortisation and provisions (265) (259) (6) (521) (516) (5) Current operating prof
Slide 19: Solid net cash position at end-June 2025
Solid net cash position at end-June 2025 Free cash flow before changes in WCR €86 million 242 (6) 11 (2) (150) 506 473 €m (128) Free cash flow after changes in WCR €97 million Opening net cash Net cash Repayment of Net capital Changes in Acquisitions Dividends Closing net cash position at flow1 leas
Slide 20: Full-year 2025 guidance confirmed
Full-year 2025 guidance confirmed after a first part of the year marked by a more challenging advertising market than expected, and with visibility remaining very limited Strong double-digit revenue growth in digital Broadly stable margin from activities compared with 2024 Aiming for a growing divid
Slide 21: Segment deep dive
04. Segment deep dive STAR ACADEMY
Slide 22: Media
04. Segment deep dive Media STAR ACADEMY
Slide 23: A strong value proposition
A strong value proposition Unrivalled daily reach among media TF1 channels: the best ROI on the French TV market invested = ROI 77% TF1 DTT channels TF1 channel 53% 11% of TV 10% 43% of TV 41% sales contribution of investments sales contribution of investments 34% ROI: €6.3 ROI: €6.6 TF1 DTT 17% 17%
Slide 24: Audience leadership
Audience leadership Strong ratings in each genre Significant gap vs main competitor French drama News Entertainment 33.7 +9.2 pts W<50PDM vs main competitor 22.9 13.7 9.3 4.5 4.1 3.6 2.8 2.7 2.2 2.2 1.8 0.5 0.4 TF1 M6 F2 TMC W9 TFX 6ter F3 Gulli F5 LCI F.info -0.9 -0.4 +0.5 +1.0 -0.2 -0.2 +0.2 +0.3
Slide 25: Update on streaming
Update on streaming Virtuous linear & streaming strategy Progress on all building blocks 25-49 Y/O NON- LINEAR LINEAR Awareness Visibility Consumption Ad inventories CPM 79% 21% 35m STREAMERS3 monthly average in H1 2025 AIDED FIRST +7% vs H1 2024 AD AWARENESS1 VISIBILITY2 LOAD CPM DAILY SOAPS 81% 65
Slide 26: Expansion in French-speaking markets
Expansion in French-speaking markets Encouraging first steps in Africa French-speaking markets now TF1+ STREAMED HOURS IN AFRICA BELGIUM LUXEMBOURG Maghreb Sub-Saharan Africa SWITZERLAND 68% 32% FRENCH-SPEAKING AFRICA TOP 3 COUNTRIES % of TF1+ streamed hours in Africa FRENCH-SPEAKING MARKETS Morocco
Slide 27: Segment deep dive
04. Segment deep dive MARIE-ANTOINETTE
Slide 28: A multi-territorial presence
a multi-territorial presence 28 INVESTOR PRESENTATION
Slide 29: A wide pool of producers
a wide pool of producers France United-Kingdom Netherlands Belgium Germany Norway Sweden USA Spain Finland Denmark Canada 29 INVESTOR PRESENTATION
Slide 30: Studio TF1 H1 highlights
H1 highlights Drama Production Distribution Revenue of €128m IN H1 2025 +6% year on year COPA of Cinema Unscripted €6m IN H1 2025 +€2m year on year 30 ~245k ~290k ~470k ~480k INVESTOR PRESENTATION tickets sold tickets sold tickets sold tickets sold
Slide 31: Extra-financial performance
05. Extra- financial performance ECOVADIS
Slide 32: Guiding principles for transformation
Guiding principles for transformation Recognition by the leading 01 – Promote gender equality rating agencies (1) 02 – Promote diversity, inclusion and solidarity 03 – Ensure health, safety and well-being in the workplace RANKED 1ST in Broadcasting & Advertising sector in Europe 04 – Reduce our carb
Slide 33: Key achievements
Key achievements Undertaking Indicator Detail Figures Undertaking Indicator Detail Figures Percentage of women Women expert in Studios 66% at the end Installation of electricity Hybrid or electric vehicles 100% at the end in the TF1 News team of August 2023 terminals in the car parks of 2023 Women r
Slide 34: Commitment to reducing carbon emissions by 30%
Commitments Commitment to reducing carbon emissions by 30% (1) within the 2030 climate roadmap SCOPES 1 AND 2 SCOPE 3a -42 % -25 % Target validated by SBTI 34 1 Compared to the emissions of 2021. INVESTOR PRESENTATION
Slide 35: Share information
06. Share information LCI MORNING SHOW
Slide 36: Share ownership & stock market information
Share ownership & stock market information Stock market information Ownership Coverage & structure* recommendations Quote: Euronext Paris Market: Compartment A 14% ISIN: FR0000054900 9 CFI: ESVUFN ICB: 403010 Media ANALYSTS Ticker: TFI 47% Major Market Indexes: 28% • SBF 120 5/9 BUY • CAC MID 60 • C
Slide 37: Appendix
07. Appendix PANDA
Slide 38: FY 24 Consolidated revenue per segment
FY 24 Consolidated revenue per segment (€m) FY 2024 FY 2023 CHG.% MEDIA Advertising revenue up 2% YoY in 2024 Media 2,011 1,967 2.2% Linear: stable ad revenue despite • The Paris 2024 Olympic Games on FTV Advertising revenue 1,644 1,606 2.3% • A more challenging market in the last two months of the
Slide 39: FY 24 Current operating profit from activities per segment
FY 24 Current operating profit from activities per segment (€m) FY 2024 FY 2023 CHG. MEDIA • COPA margin broadly stable in 2024 Media 259 256 0.9% despite an increase in programming o/w programming costs (986) (960) 2.7% costs and investments in TF1+ Margin STUDIO TF1 • Back to double-digit margin S
Slide 40: FY 24 consolidated income statement
FY 24 consolidated income statement (€m) FY 2024 FY 2023 CHANGE Consolidated revenue 2,356 2,297 2.6% Total costs of programmes (986) (960) 2.7% Other charges, depreciation, amortisation and provisions (1,073) (1,049) 2.3% Current operating profit from activities 297 287 3.2% Margin from activities
Slide 41: Solid net cash position at end-December 2024
Solid net cash position at end-December 2024 NET CASH POSITION Free cash flow before changes in WCR €229 million Stable year on year 518 (9) (280) (38) (61) 505 506 €m (129) Free cash flow after changes in WCR €191 million Opening net cash Operating Lease Net capital Change in operating Acquisitions
Slide 42: 9% increase in dividend per share
9% increase in dividend per share yoy 2018-2024 EVOLUTION (€/SHARE) CAGR +7.0% €0.60 €0.55 €0.50 € 127m1 €0.40 €0.45 €0.45 € 0.60 €0.0 PER SHARE 2018 2019 2020 2021 2022 2023 2024 COVID DIVIDEND YIELD2 5.6% - 6.8% 5.1% 6.9% 7.7% 8.2% 42 1 Based on 211,021,535 shares at 31/12/2024 INVESTOR PRESENTATI
Slide 43: Acquisition of 63% of Johnson Production Group
Acquisition in august 2024 of 63% of Johnson Production Group1 Strategic move enabling Studio Packaging, financing, TF1, which already owns Reel One2, to further strengthen its ambition 63% stake valued around production and distribution in the dynamic and resilient TV €80m (subject to customary mov
Slide 44: Investor presentation
44 INVESTOR PRESENTATION
Slide 45: Contact
Contact TF1 GROUP Pierre-Alain GÉRARD Stéphane FEIST 1 Quai Du Point Du Jour EVP Finance, Strategy & Procurement Head of Investor Relations 92 656 Boulogne-billancourt Cedex France sfeist@tf1.fr https://www.groupe-tf1.fr/en Adrien WIART Head of M&A, Business Plan Anaïs AMGHAR INVESTOR RELATIONS TEAM
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