Reworld Media SA · EURONEXT:ALREW
Reworld Media SA — FY2023 Earnings Presentation
35 slides from Reworld Media SA's earnings presentation, Mar 21, 2024
Slide 1: Annual Results 2023
ANNUAL RESULTS 2023 21 March 2024 CONTENT ● BRANDS ● TECHNOLOGIES
Slide 2: Disclaimer
DISCLAIMER The information contained in this document, particularly that relating to expectations of future performance of the Reworld Media Group, are forward-looking statements and may be subject to certain risks and uncertainties. Any references to past performance of the Reworld Media Group shou
Slide 3: Contents
CONTENTS INTRODUCTION ACTIVITIES ACCOUNTS OUTLOOK
Slide 4: Introduction
INTRODUCTION: — = —_ —
Slide 5: In France No. 1 thematic media and adtech platform
IN FRANCE NO. 1 No. 1 magazine publisher THEMATIC No. 3 media group on the web MEDIA & No. 1 media group on social networks The group reaches 7 out of 10 French ADTECH people(a) PLATFORM IN EUROPE INTERNATIONAL European Leader in Adtech and 31% ofbusiness revenue from international established inter
Slide 6: Enhanced leading position through acquisitions
ENHANCED LEADING POSITION THROUGH ACQUISITIONS FRANCE INTERNATIONAL HEALTH, 1 WELL-BEING WOMEN 3 FOOD 1 YOUTH 1 LIFESTYLE TECH GAMING 3 ADTECH 6
Slide 7: Key financial figures 2023
KEY FINANCIAL FIGURES 2023 Context Reworld Media REVENUE: War in Ukraine and EBITDA(1): €59.3M the Middle East €549.3M Inflation of 4.8% (France) +8.6% +€43.5m +1.5% 10.8% vs. 2022 vs. 2022 vs. H2 2022 2023 margin Digital communication market in France(i): €9.6 bn | +6.1% NET INCOME: CASH: €97.7M €2
Slide 8: 2023 driven by BtoB growth
2023 DRIVEN BY BTOB GROWTH (€m) Revenue EBITDA(2) Organic(1) -€14,7m | -5,9% +€9,9m | +4,2% -€4,7m | -1,0% +€43.5M +8.2% in H2 2023 +€50.2M +19.6% +8.6% -€1.5M -€8.1M 549.3 -3.7% -12.1% 505.8 -€6.7M 67.4 -€6.6M 59.3 -2.7% 13.3% -25.0% 10.8% Does not include Unify EBITDA for the first 9 months of 202
Slide 9: Return of EBITDA growth in H2
RETURN OF EBITDA GROWTH IN H2 (€m) Revenue EBITDA(1) S1 2022 241,5 ‘ +€24.9M S1 2022 31,2‘ 12.9% -€8.7M H1 S1 2023 266,4 ‘ +10.3% S1 2023 22,5‘ 8.4% -27.9% S2 2022 264,4 ‘ +€18.6M S2 2022 36,3‘ 13.7% +€0.6M H2 S2 2023 282,9‘ +7.0% S2 2023 36,8‘ 13.0% +1.5% Annuel 2022 505,8‘ +€43.5M Annuel 2022 67,4
Slide 10: Return of EBITDA growth in H2
RETURN OF EBITDA GROWTH IN H2 (€m) Revenue EBITDA(1) ‘ 12.9% ‘ +€24.9M -€8.7M H1 ‘ +10.3% ‘ 8.4% -27.9% ‘ +€18.6M ‘ 13.7% +€0.6M H2 ‘ +7.0% ‘ 13.0% +1.5% ‘ +€43.5M ‘ 13.3% -€8.1M Annual ‘ +8.6% ‘ 10.8% -12.1% 2023 2022 X% EBITDA margin (%) (1) EBITDA excluding expenses related to bonus share plans r
Slide 11: Activities
ACTIVITIES 11
Slide 12: More than 80 popular brands covering 12 themes
MORE THAN 80 POPULAR BRANDS COVERING 12 THEMES HEALTH 1 WOMEN 3 FOOD 1 YOUTH 1 AUTO 2 LIFESTYLE WELL-BEING SCIENCE 3 ENTER- 4 TECH 3 SPORT 3 NATURE 2 HOME 1 CULTURE TAINMENT GAMING Source: group ranking based on Médiamétrie//Netratings measure, Global Internet Audience in France, average of 2023 vs.
Slide 13: No. 1 magazine publisher
NO. 1 MAGAZINE PUBLISHER From 2023, the group becomes a publisher in Italy and the US No. 1 for circulation in France Optimised circulation in an inflationary environment 94.1 million 122 titles copies distributed in France(f) published in 2023 in France 1.7 million 329 thousand Paid subscriptions d
Slide 14: Continuous enhancement of the BtoC offer
CONTINUOUS ENHANCEMENT OF THE BTOC OFFER Continued diversification of the offer New magazines 169 publishing products +32% brought to market in 1 year vs. 2022 Launch of ICON in France, the Launch of new youth From 6 February 2024, the channel Italian high-end fashion and vouchers throughout publish
Slide 15: No. 3 media group on the web
NO. 3 MEDIA GROUP ON THE WEB (in millions of monthly UVs(d)) Continuous digitisation of uses(e) 39.0 47.4 million +1.8 million 33.0 of French people vs. 2022 connected/day 32.3 +18.1% 2 hours 24 +50 minutes average connection/day in 5 years 28.3 28.1 Top audience growth over 3 years(d) 25.7 22.1 20.
Slide 16: Premium sites at the forefront of trends
PREMIUM SITES AT THE FOREFRONT OF TRENDS Represented by Céline Perruche at the editorial management in France one of the most prestigious fashion New site and visual codes media brands in the world New highlights and headings New digital and social formats Overhaul in September 2023 Creation of the
Slide 17: No. 1 media group on social networks
NO. 1 MEDIA GROUP ON SOCIAL NETWORKS 81.1 million subscribers(c) +10.4% over 1 year #Trend: 15-24 year olds(e) #Trend: implementation of remuneration for content 4h / day of surf of which creators by social media 2h24 / day on social (39%) platforms Continued investment in content More than 80 dedic
Slide 18: Video at the heart of our audiences
THE VIDEO AT THE OF OUR AUDIENCES Video uses are going digital 620 million 270 million on our sites Over 4h40 / day of video listening, online video videos viewed/month 350 million in social networks represents 48 minutes, i.e. 17%(g). Short videos drive social growth. Top 5 video brands(h) 1 2 3 4
Slide 19: Performance: success of a multi-lever offer
PERFORMANCE: SUCCESS OF A MULTI-LEVER OFFER More than Affiliate 3,000 customers Comparator Marketing 180,000 affiliated sites Influence Marketing Vouchers (Social) €5.5 billion ADTECH in revenue for our customers in 2023 Mobile & Leads More than App Ad 100,000 active influencers Content to Retail Me
Slide 20: Accounts
ACCOUNTS 20
Slide 21: BtoC: rigorous management in the face of inflation
BTOC : RIGOROUS MANAGEMENT IN THE FACE OF INFLATION vs. 22 -€1.5m | -1.2% -€5.2m | -4.2% -€6.7m | -2.7% Rationalization of distribution motivated by the unprecedented rise in industrial costs, which far REVENUE Org.(1) -€5.5m | -4.4% -€9.2m | -7.3% -€14.7m | -5.9% exceeds inflation (€M) 249.8 243.1
Slide 22: BtoB: return to growth in H2
BTOB: RETURN TO GROWTH IN H2 vs. 22 + €26.4m | +22.5% + €23.8m | +17.2% + €50.2m | +19.6% Very good momentum from our performance -based offerings which drive growth in BTOB REVENUE Org.(1) +€4.1m | +3.5% +€5.8m | +4.8% +€9.9m | +4.2% revenue, made up of 88% digital revenue (€M) 306.2 Continued grow
Slide 23: Consolidated income statement 2023
CONSOLIDATED INCOME STATEMENT 2023 In €m 31/12/2023 31/12/2022 Variation (M€) Variation (%) Revenue 549.3 505.8 43.5 +8.6% Operating costs (490.0) (438.4) (51.6) +11.8% EBITDA(1) 59.3 67.4 (8.1) -12.1% Amortisation(2) (1.2) (2.9) 1.7 -57.6% EBIT(1) 58.1 64.5 (6.4) -10.0% Financial result (3) (9.5) (
Slide 24: Continued debt reduction
CONTINUED DEBT REDUCTION NFD: €108.1m In €m -10.6 Amounts recorded on the balance sheet 216.5 205.8 205.8 97.7 -20.6 Net debt 1.8x EBITDA Gearing(1) of 49% 118.3 108.1 97.7 Financial year 2023: • €23.3 million in principal repaid • €11.8m in drawdowns to refinance the 31/12/22 31/12/23 31/12/22 31/1
Slide 25: Cash flow 2023
CASH FLOW 2023 Cash assets (€m) +41.3 -6.8 -12.9 -10.2 -22.1 -9.9 118.3 +0.1 Acquisitions of Reworld Media Italia (Grazia, Jan-23) and Zezam (June-23) 97.7 31/12/22 Operations Corporation tax Exceptional Investment Financing Acquisitions Foreign 31/12/23 exchange effect Y-1 122.9 +55.1 -9.7 -15.5 -5
Slide 26: Outlook
OUTLOOK 26
Slide 27: Which market for horizon 2030?
WHICH MARKET FOR HORIZON 2030? Communication market +1.2% per year on average 2022-2030 +€4.4 bn in digital revenue by 2030 Advertising market +2.3% per year Benefits from the transfer of on average 2022-2030 non-media expenses instead of +3.0% 2012-2022 #Trend: towards a new use of advertising focu
Slide 28: Objectives & strategy
1 Developing the group OBJECTIVES & STRATEGY Capitalise on our strong reputation brands which are leaders in their area Invest in the most promising contents and formats (video, social) Continuing to digitise and diversify our offering Supporting our customers in the digitalisation of their communic
Slide 29: 2023 CSR review
2023 CSR REVIEW ENVIRONMENT SOCIAL GOVERNANCE ESG rating(k) 1st carbon footprint audit Purchasing power 2022 50 • Methodology: GHG Protocol Max. 5 euros • Period: 1/10/22 to 30/09/23 2021 34 • Scope: excluding Tradedoubler 2020 19 Fighting against “fake news” 53.24 “Just cause” ktCO2e Total emission
Slide 30: Appendices
APPENDICES . wal
Slide 31: Simplified consolidated balance sheet
SIMPLIFIED CONSOLIDATED BALANCE SHEET In €m 31/12/2023 31/12/2022 Variation (M€) Fixed asset 365.8 348.7 17.1 Deferred tax assets 11.1 8.2 2.9 Current assets 189.6 176.9 12.6 Cash and cash equivalents 97.7 118.3 (20.6) Assets 664.2 652.1 12.1 Equity 201.7 176.3 25.4 Minority interests 17.2 14.3 2.9
Slide 32: Sources
SOURCES (a) ACPM, OneNext Global S2 2023 study, target group 15+, 26 Oct. 2023. (b) DSH 2023 ACPM, 15 Feb. 2024. (c) Number of non-deduplicated subscribers to Facebook, Instagram, Twitter, Pinterest, TikTok, YouTube, Snapchat and Twitch platforms, publisher data. (d) Médiamétrie//Netratings, Global
Slide 33: 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
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Slide 35: Content, Brands, Technologies
CONTENT ● BRANDS ● TECHNOLOGIES