Television Francaise 1 Sa · EURONEXT:TFI
Television Francaise 1 Sa — TF1 Group — FY2024 Earnings Presentation
39 slides from Television Francaise 1 Sa's earnings presentation, February 2025
Slide 1: Investor Presentation Post FY 2024 Results
INVESTOR PRESENTATION POST FY 2024 RESULTS JT du 13h et du 20h
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
1 WHO WE ARE STRATEGY UPDATE P.4 P.8 2 FY 2024 FINANCIALS SEGMENT DEEP DIVE P.15 P.21 3 EXTRA-FINANCIAL PERFORMANCE SHARE INFORMATION P.30 P.34 4 APPENDIX P.36 INVESTOR PRESENTATION 3
Slide 4: Who We Are
1 WHO WE ARE INVESTOR PRESENTATION 4 Bonjour! La Matinale de TF1
Slide 5: TF1 Group's History
TF1 GROUP’S HISTORY 1987 The Bouygues group becomes reference 2024 2018 shareholder of the TF1 channel Launch of TF1+ to become the leading free First distribution agreements signed streaming platform in France with the French telecom operators First steps of a unique aggregation strategy Acquisitio
Slide 6: TF1 Group's Activities: Broadcasting, Streaming and Production
TF1 GROUP’S ACTIVITIES: BROADCASTING, STREAMING AND PRODUCTION MEDIA BROADCASTING, STREAMING, OTHER ACTIVITIES NEWEN STUDIOS CONTENT PRODUCTION & DISTRIBUTION 2024 revenue: €2bn 2024 revenue: €345m FTA DRAMA / CHANNELS SCRIPTED THEME CHANNELS DOCUMENTARIES ANIMATION STREAMING SERVICES DISTRIBUTION T
Slide 7: 2024 Highlights: Targets Achieved
HIGHLIGHTS CONSOLIDATED REVENUE GOOD PERFORMANCE IN CONTINUED STRONG LEADERSHIP MAINTAINED GROWTH DRIVEN BY BOTH ADVERTISING MOMENTUM FOR despite France Televisions’ BUSINESS SEGMENTS coverage of the Paris Olympics Group revenue Group advertising revenue Digital advertising revenue +2.6% vs 2023 +2.
Slide 8: Strategy Update
2 STRATEGY UPDATE INVESTOR PRESENTATION 8
Slide 9: Ambition: Primary Premium Destination on TV Screens
ESTABLISH THE GROUP AMBITION AS THE PRIMARY PREMIUM DESTINATION ON TV SCREENS FOR FAMILY ENTERTAINMENT AND QUALITY NEWS IN FRENCH INVESTOR PRESENTATION 9
Slide 10: Strategic Priorities
STRATEGY STRENGTHEN THE GROUP’S LEADERSHIP IN THE LINEAR ADVERTISING MARKET BECOME THE LEADING FREE STREAMING PLATFORM IN FRANCE AND IN FRENCH-SPEAKING MARKETS STUDIO TF1 * REINFORCE STUDIO TF1’S POSITION ON THE INTERNATIONAL STAGE BY LEVERAGING TF1 BRAND’S APPEAL * New brand name of Newen Studios s
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 long-format Video advertising market 3
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 OF PREMIUM AD INVENTORIES ON COMMERCIAL TARGETS PRICING STRATEGY ENTERTAINMENT FRENCH DRAMA WOMEN’S SPORTS 2025 Serialized franchises Wide universe of new h
Slide 13: Establish TF1+ as the Premium Alternative to YouTube
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 STRATEGY DATA-ENRICHED NEW AD FORMATS FRENCH-SPEAKING MARKETS AD INVENTORIES Improve ad tech stack to address advertisers’ needs from BELGI
Slide 14: Reinforce Studio TF1's Position on the International Stage
REINFORCE STUDIO TF1’S POSITION ON THE INTERNATIONAL STAGE NEWEN STUDIOS REBRANDS AS STUDIO TF1 (EFFECTIVE STARTING MARCH 2025) INCREASE STUDIOS' STRENGTHEN SYNERGIES EXPAND FOCUS ON FILM INTERNATIONAL PROFILE WITH THE MEDIA SEGMENT with an extensive catalogue which will benefit from the support of
Slide 15: FY 2024 Financials
3 FY 2024 FINANCIALS INVESTOR PRESENTATION 15 JT du 13h
Slide 16: Consolidated Revenue per Segment
CONSOLIDATED REVENUE PER SEGMENT MEDIA (€m) Q4 2024 Q4 2023 CHANGE FY 2024 FY 2023 CHANGE Advertising revenue up 2% YoY in 2024 Linear: stable ad revenue despite MEDIA 612 618 (0.9%) 2,011 1,967 2.2% - The Paris 2024 Olympic Games on FTV - A more challenging market in the last ADVERTISING REVENUE 49
Slide 17: Current Operating Profit from Activities per Segment
CURRENT OPERATING PROFIT FROM ACTIVITIES PER SEGMENT (€m) Q4 2024 Q4 2023 CHANGE FY 2024 FY 2023 CHANGE MEDIA MEDIA 68 65 4.3% 259 256 0.9% COPA margin broadly stable in 2024 O/W PROGRAMMING COSTS (315) (331) (4.9%) (986) (960) 2.7% despite an increase in programming costs and investments in TF1+ MA
Slide 18: Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT (€m) Q4 2024 Q4 2023 CHANGE FY 2024 FY 2023 CHANGE CONSOLIDATED REVENUE 765 749 2.1% 2,356 2,297 2.6% PROGRAMMING COSTS (315) (331) (4.9%) (986) (960) 2.7% OTHER CHARGES, DEPRECIATION, AMORTISATION AND PROVISIONS (352) (335) 5.1% (1,073) (1,049) 2.3% CURRENT OPERATING P
Slide 19: 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 518 year on year (9) (280) (38) 505 (61) 506 (129) €m Free cash flow after changes in WCR €191 million Opening net cash Operating Lease Net capital Change in operating Acquisitions
Slide 20: 2025 Guidance
2025 GUIDANCE In an advertising market with limited visibility STRONG DOUBLE-DIGIT REVENUE GROWTH IN DIGITAL BROADLY STABLE MARGIN FROM ACTIVITIES COMPARED WITH 2024 AIMING FOR A GROWING DIVIDEND POLICY IN THE COMING YEARS INVESTOR PRESENTATION 20
Slide 21: Segment Deep Dive
4 SEGMENT DEEP DIVE INVESTOR PRESENTATION 21 HPI
Slide 22: Media
MEDIA SEGMENT DEEP DIVE INVESTOR PRESENTATION 22
Slide 23: Leadership Maintained Despite Unprecedented Competition with Paris Olympic Games
LEADERSHIP MAINTAINED DESPITE UNPRECEDENTED COMPETITION WITH THE PARIS OLYMPIC GAMES UNRIVALLED DAILY REACH AMONG MEDIA 33.5 W<50PDM +9.8 pts vs main competitor 22.6 78% 12.8 10.3 4.6 3.9 3.3 3.4 2.5 2.4 2.1 1.9 0.4 0.4 53% TF1 M6 F2 TMC W9 F3 TFX TF1SF 6ter Gulli F5 LCI F.info 32% -0.5 -0.7 -0.7 +1
Slide 24: Solid Line-up in 2024, Performing Well in Linear and Streaming
SOLID LINE-UP IN 2024, PERFORMING WELL BOTH IN LINEAR AND IN STREAMING SOLID POSITION ON ALL DAY-PARTS VIRTUOUS LINEAR & STREAMING STRATEGY A stable number 4+ +1% Average audience share at end-December 2024 of hours viewed for the whole group 25-49 Y/O -1% 7:30am 9:30am 1:40pm 2pm 6:45pm 8pm 9pm 11p
Slide 25: TF1+: Significant Progress on All Building Blocks
: SIGNIFICANT PROGRESS ON ALL BUILDING BLOCKS Awareness Visibility Consumption Ad Inventories CPM STARTING 73% 54% 28m streamers ~4min/hour ~€12/CPM POINTS at end-February 2024 at end-June 2024 in 2023 on MYTF1 on MYTF1 on MYTF1 STREAMED AIDED AWARENESS FIRST VISIBILITY HOURS 3 1.2bn AD LOAD CPM ACH
Slide 26: Newen Studios
NEWEN STUDIOS SEGMENT DEEP DIVE INVESTOR PRESENTATION 26
Slide 27: A Multi-Territorial Presence
A MULTI-TERRITORIAL PRESENCE 27
Slide 28: A Wide Pool of Producers
Za | A WIDE POOL OF PRODUCERS STUDIOS ee ge i RB ' Baa felicite ‘CAPA © DEMAIN NOUS | — ' ' ! : ' ! ' 7 ' ' tan + ! 1 ! ' i APPARTIENT | 1 1 4 PARTITA 4 error ! ( PUPKIN) | Ne" Fen FILMS ,aUXx,. : Blue COMMENCE |: ! 1 singuliers © Spit ) Hl ! 1 magsou . 2! mccee S eon Eres] Pls BELLE LAME | . Flanag
Slide 29: Full-Year 2024 Highlights
FULL-YEAR 2024 HIGHLIGHTS Revenue of €345m in 2024, up 4.6% ; COPA of €38m ; double-digit COPA margin of 11.0%, up 1.6 pts KEY ACHIEVEMENTS MAJOR DELIVERIES CINEMA Strengthening Acquisition Gradual New seasons of prestigious Successful synergies with of Johnson production normalisation series delive
Slide 30: Extra-Financial Performance
EXTRA- 5 FINANCIAL PERFORMANCE INVESTOR PRESENTATION 30
Slide 31: Guiding Principles for Transformation
GUIDING PRINCIPLES FOR TRANSFORMATION 01 – PROMOTE GENDER EQUALITY RECOGNITION BY THE LEADING RATING AGENCIES (1) 02 – PROMOTE DIVERSITY, INCLUSION AND SOLIDARITY 03 – ENSURE HEALTH, SAFETY AND WELL-BEING IN THE WORKPLACE RANKED 1ST in Broadcasting & Advertising 04 – REDUCE OUR CARBON FOOTPRINT sect
Slide 32: 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 33: 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 En terre ferme INVESTOR PRESENTATION 33 (1) Compared to the emissions of 2021.
Slide 34: Share Information
6 SHARE INFORMATION INVESTOR PRESENTATION 34
Slide 35: Share Ownership & Stock Market Information
SHARE OWNERSHIP & STOCK MARKET INFORMATION OWNERSHIP STRUCTURE* COVERAGE & RECOMMENDATIONS STOCK MARKET INFORMATION Quote: Euronext Paris 13% 9 ANALYSTS Market: Compartment A ISIN: FR0000054900 CFI: ESVUFN ICB: 403010 Media Ticker: TFI 46% 6/9 BUY Major Market Indexes: 31% • SBF 120 • CAC MID 60 • C
Slide 36: Appendix
7 APPENDIX INVESTOR PRESENTATION 36
Slide 37: Acquisition of 63% of Johnson Production Group
ACQUISITION OF 63% OF JOHNSON PRODUCTION GROUP1 Strategic move enabling Newen Studios, which already owns Reel One2, to further strengthen its ambition in the dynamic 63% stake valued around €80m (subject to customary Packaging, financing, production and distribution and resilient TV movie market ad
Slide 38: Bonjour! La Matinale de TF1
Bonjour! La Matinale de TF1 INVESTOR PRESENTATION 38
Slide 39: Contact
CONTACT PIERRE-ALAIN GÉRARD EVP FINANCE, STRATEGY & PROCUREMENT ADRIEN WIART HEAD OF M&A, BUSINESS PLAN & INVESTOR RELATIONS STÉPHANE FEIST HEAD OF INVESTOR RELATIONS sfeist@tf1.fr ANAÏS AMGHAR SENIOR INVESTOR RELATIONS OFFICER aamghar@tf1.fr TF1 GROUP INVESTOR RELATIONS TEAM 1 Quai Du Point Du Jour