Tx Group Ag · SIX:TXGN
Tx — Investor Day (December 2021)
80 slides from Tx's investor day presentation, Dec 9, 2021
Slide 1: TX Group Investor Day
TX Group Investor Day 1
Slide 2: Agenda
TX Group Investor Day 2 Agenda 14:00 14:10 14:30 14:50 15:05 15:15 15:30 16:00 16:20 17:00
Slide 3: TX Group Investor Day, 9 December 2021
TX Group Investor Day TX Group Investor Day 9 December 2021 Ts
Slide 4: Head of Communications and Investor Relations
TX Group Investor Day 4 Head of Communications and Investor Relations
Slide 5: From daily newspaper to a media and technology group
From daily newspaper... to a media and technology group my cm | (2 eZ rE
Slide 6: Chairman and Publisher
TX Group Investor Day 6 Chairman and Publisher
Slide 7: About 80% of our business has been established over the last 20 years
About 80% of our business has been established over the last 20 years exited business mm new businesses until 2010 mm new businesses until 2020 mm traditional business 936 2000 2010 2020 TX Group revenue in CHF millions Ts
Slide 8: TX Group history timeline
TX Group Investor Day 8 1893 1933 1970 1987 2000 2003-07 2008 2008-09 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Slide 9: TX Group Investor Day
TX Group Investor Day 9 No.1 No.1
Slide 10: TX Group's assets today
TX Group’s assets today ° Doodle zattOD SELMA High net liquidity ¥* Lykke monito ® elpling J moneypark PICSTARS LE@D - Ziirich: Werdstrasse | Stauffacherquai | Bubenbergstrasse - Bern: Dammweg | Zentweg — Bussigny (VD): Chemin de Mochettaz TX Markets Goldbach 20 Minuten 31% 50% sug GOLDBACH TagessAn
Slide 11: TX Group Investor Day
TX Group Investor Day 11 2021 2019 2018 2018 2014 2014 2013 2011 2010 2008 2008 2000 1987 1933 1893
Slide 12: Tamedia: every Swiss inhabitant consumes one of our products daily
Tamedia: Every 3 Swiss inhabitant consumes one of our products daily Tagesanzeiger- NZZ NWCH Berner Luzerner Anzeiger GES Zeitung/ Zeitung Der Bund Reader/User per Day in 000* German-speaking part of Switzerland 208 175 162 161 24heures LeTemps Tribunede Le Genéve Nouvelliste Reader/User per Day in
Slide 13: Tamedia: Digitalisation is developing rapidly
Tamedia: Digitalisation is developing rapidly While we continuously grow our digital business, we remain committed to high-quality journalism. Digitalisation Investment in quality — Digital offering is being continuously — Annual quality monitoring since 2017 developed — Set-up of aresearch desk — A
Slide 14: TX Group Investor Day
TX Group Investor Day 14 2021 2019 2016 2014 2013 2011 2009 2007 2006 2006 2005 2004 2003 2000
Slide 15: TX Group Investor Day
TX Group Investor Day 15 3067 2972 2890 2822 2779
Slide 16: TX Group Investor Day
TX Group Investor Day 16 − − − − − − − −
Slide 17: Classifieds & Marketplaces, Advertising, Free Media, Paid Media
TX Group Investor Day 17 Classifieds & Marketplaces Advertising Free Media Paid Media 1 1 1 1
Slide 18: TX Group Investor Day
TX Group Investor Day 18 … • • • • • •
Slide 19: CFO, Head of Corporate Services
TX Group Investor Day 19 CFO, Head of Corporate Services, Member of the Group Management Board
Slide 20: We have diversified our revenue streams over the last years
20 We have diversified our revenue streams over the last 20 years = 100% HB Advertising revenue {BB Revenue from classified and services Hi Subscription revenue (circulation) Hi Revenue from commercialisation and intermediary sales printing and other revenue TX Group revenue split Ts
Slide 21: The digital business was continuously increased
The digital business was continuously increased Digital revenue TX Group 2010 2020 Revenue streams HB Advertising Il Classified & services HM Commercialisation Subscription & single sales I Printing Operations & Others Digital revenue 20 Minuten Tamedia 21 Ts
Slide 22: Our margin has remained stable throughout the transformation
Our margin has remained stable throughout the ongoing transformation Bursting of oe Global dot-com Recession i financial Euro crisis Corona crisis bubble crisis 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 EBITDA margin for TX Group in per
Slide 23: Explanation of the most important key performance figures
Explanation of the most important key performance figures Income statement related Cash flow statement related Financial EBITDA Cash flow from operating activities Standard KPI Operating result excluding depreciation and amortisation of tangible and intangible assets (including rights to use of leas
Slide 24: FCF (b. M&A) and EBIT (b. PPA) as relevant performance indicators
24 FCF (b. M&A) and EBIT (b. PPA) as relevant performance indicators that are not affected by one-off effects — FCF (b. M&A) — Amortisation resulting from business combinations — EBIT (b. PPA) — Impairment EBIT 216 220 201 200 F193 ig) 180 180 t= os 160 161 162 ss 140 131 132 iar 120 114 100 a 80 70
Slide 25: We generate a solid Free Cash Flow before M&A
25 We generate a solid «Free Cash Flow before M&A» — FCF (b. M&A) FCF 400 4 3 350 | 300 250 | 205 216 200 183 209 160 160 170 160 us 162 ua 150 {$—_ 144 168 SS oo 100 4 o4 95 50 ; -16 2n10/ 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 50 + os 46 -100 J in CHF millions a» -4
Slide 26: All companies operate successfully and independently
26 All companies operate successfully and independently TX Markets Goldbach 20 Minuten Tamedia Group & Ventures EBIT (adj.)-Margin EBIT (adj.)-Margin EBIT (adj.)-Margin EBIT (adj.)-Margin 2020-6 35.5% 2020-6 5.4% 2020- -17.6% QA 2020-6 24% 102 @) * ¢9 74 0 iF 7 7 segment _|63 a 61 3947 36 43 4051 TI
Slide 27: Our balance sheet is very solid and our net liquidity high
Consequently, our balance sheet is very solid and our net liquidity high in CHF millions 2020 2020 2021-6 Current assets MM Non-current assets ml Current liabilities @™ Non-current liabilities 202146 mm Equity Net liquidity, 30 June 2021: CHF 194.2 million Excluding minority holdings, the equity rat
Slide 28: Goldbach CEO
TX Group Investor Day Goldbach Michi Frank CEO Th
Slide 29: A leading advertising sales house in Switzerland
A LEADING ADVERTISING SALES HOUSE IN SWITZERLAND Unique 360 degree offering for own and third party medias ESTABLISHMENT OF GOLDBACH MEDIA GROUP START GOLDBACH GROUP MONITORY INTEREST GOES MOBILE of SevenOne & RTL in Establishment of Goldbach Audience DELISTING Radio Z AG ONLINE Online START TAKING
Slide 30: Goldbach products reach a large part of the Swiss population
GOLDBACH PRODUCTS REACH A LARGE PART OF THE SWISS POPULATION 50% 43% 40% 19% 5% Goldbach Group AG 30 Source 2020: Advertising expenditure Switzerland Report Goldbach annual financial statements (gross presentation of turnover)
Slide 31: Self-service platform to provide access to all media
SELF-SERVICE PLATFORM TO PROVIDE ACCESS TO ALL MEDIA Changing needs of customers is seizing the opportunity to create an for that is simple to use for our customers Convenience Return on Invest Innovation ● Standard products ● ● sales, available in a and optimisation: consulting and support Automate
Slide 32: Replay advertising – innovation in TV advertising
REPLAY ADVERTISING – INNOVATION IN TV ADVERTISING 1 – TODAY & TOMORROW: EXCLUSIVITY (Start-Ad & Pause-Ad) UNSKIPPABLE (Start-Ad & Fast Forward-Ad) 2 – AS OF 2022: In case of time-shifted use of the HIGH ATTENTION (usage-based playout) program, the viewer receives additional & different advertisement
Slide 33: NEO Advertising: pioneer in digital out of home solutions
NEO ADVERTISING: PIONIEER IN DIGITAL OUT OF HOME SOLUTIONS 3RD LARGEST PLAYER ON THE SWISS MARKET DUE TO STRONG GROWTH Inventory development Revenue development Additional revenue Goldbach 2017 2018 2019 2020 2021 2022 Revenue Neo Acquire revenues from the newly acquired inventories Core focus of (e
Slide 34: VBZ as an example for leveraging data of TX Group
VBZ AS AN EXAMPLE FOR LEVERAGING DATA OF TX GROUP DATA USAGE FOR VBZ INVENTORY COMBINED DATA OF 20MIN AND TAMEDIA … GENERATES A UNIQUE PROFILING FOR EACH USERS… VBZ STATION Dynamic and qualitative behavioural data lead to better utilization Goldbach Group AG
Slide 35: Head of Finance and Controlling
TX Group Investor Day 35 Head of Finance and Controlling
Slide 36: New JV TX Markets & Scout24
36 TX Group decided to partner with Ringier, die Mobiliar and General Atlantic by combining the online marketplaces of TX Markets and Scout24 Schweiz Th 0°ORingier die Mobiliar ATLANTIC Equity share: 31 % Equity share: 29.5 % Equity share: 29.5 % Equity share: 10% Voting rights: 25 % Voting rights:
Slide 37: Additional financial information for material associated companies
The annual report currently discloses additional financial information for material associated companies (Karriere.at) and group companies with significant non-controlling interest (JobCloud AG) from the TX Markets segment. Segment information Associates/joint ventures (note 2) (note 8) Subsidiaries
Slide 38: Composition of the TX Markets segment has changed
The composition of the TX Markets segment has changed and accordingly additional information for JobCloud will be disclosed in the future Composition TX Markets oo oon er Naktee foe “Seement™ segment as of 2021-06 100% (before closing) Revenues ‘53'146, 108'407 Operating expenses (XXX), (69'396) Sha
Slide 39: Additional disclosure of JobCloud AG financial information
Since transparency of financial performance of JobCloud AG - as the only fully consolidated company in the TX Markets segment - will increase, we will disclose additional financial information in note 30 JobCloud | JobCloud Karriere.al | Karriere.at oe iG al oT SS AG] IWame GmbH GmbH are of Group ca
Slide 40: Amortisation from business combinations will impact Swiss Marketplace Group
Amortisation from business combinations will negatively impact the financial result of the Swiss Marketplace Group in the coming years TRAE erent heron Revenues: Operating EBITDA. Depreciation EBIT b. PPA Amortisation EBIT Financial result Income Taxes Expenses and resulting from Amortisation busine
Slide 41: Deconsolidation reduces assets and liabilities of TX Markets
The deconsolidation reduces assets and liabilities of TX Markets - the gain on disposal increases equity by CHF 775 mn. Balance sheet pro forma 2021-6 Elimination of assets and. Patticipationsin JV Balance sheet pro forma pr ‘TX Group (until now) liabllities Proceeds trom disposals Sale of 10% JV TX
Slide 42: Key points
42 Key points > _sIncreased transparency in external reporting due to additional disclosure of EBITDA, py EBIT before PPA and EBIT for material associated companies (Karriere.at) and group companies with significant non-controlling interest (JobCloud AG) from the TX Markets segment. Q Low/ negative
Slide 43: SMG Swiss Marketplace Group CEO
TX Group Investor Day SMG Swiss Marketplace Group Gilles Despas CEO Th
Slide 44: SMG forms a true local champion in Swiss Classifieds & Marketplaces
Investor Relations Day – SMG Swiss Marketplace Group The SMG Swiss Marketplace Group forms a true local champion in the Swiss Classifieds & Marketplaces space 1 Real Estate 2 Financing & Insurances Mobility Generalists 1 1 44
Slide 45: Vision of the SMG Swiss Marketplace Group
Investor Relations Day – SMG Swiss Marketplace Group Vision of the SMG Swiss Marketplace Group The SMG Swiss Marketplace Group is one of Switzerland’s leading digital hubs. Our multinational experts shape the future of our marketplaces to simplify people's lives and drive our customers’ success Join
Slide 46: Combined portfolio offers a unique view on the user's lifecycle
Investor Relations Day - SMG Swiss Marketplace Group The combined portfolio offers a unique view on the user’s “lifecycle”... The SMG Swiss Marketplace Group offers customers and consumers data-driven, personalized products and services, to further enhance sales & marketing performance and improve u
Slide 47: Merging assets that are highly complementary
Investor Relations Day - SMG Swiss Marketplace Group ... by merging assets that are highly complementary on an activity level 47
Slide 48: Assets complementary in geographic coverage and business models
Investor Relations Day - SMG Swiss Marketplace Group Additionally, the assets are complementary in terms of geographic coverage and business models Example - Geography Example - Business Combining regional strength in Model Transactional marketplace real estate Free classifieds 48
Slide 49: Combined portfolio has a compelling position in the Swiss market
Investor Relations Day - SMG Swiss Marketplace Group The combined portfolio has a compelling position in the Swiss market... >80m >3m >900 visits per new listings employees with 40 month per month different (summed across all nationalities platforms) working in 13 locations also internationally Aver
Slide 50: Protects us from international competition
Investor Relations Day – SMG Swiss Marketplace Group … which protects us from international competition International C&M Global Tech Companies Groups and Verticals 50
Slide 51: Merged company ranks among top ten European C&M groups
Investor Relations Day - SMG Swiss Marketplace Group Furthermore, the merged company ranks among the top ten Classifieds & Marketplaces (C&M) groups in Europe Top ten European C&M groups by 2020 revenues 1 2 3 3,4 3 4 Note: 1) Includes revenues from Germany and UK excl. eBay Classifieds Group (eCG);
Slide 52: Portfolio deep dive Real Estate
Investor Relations Day - SMG Swiss Marketplace Group Portfolio deep dive Real Estate Real Estate 1 Classifieds real estate Classifieds real estate Digital real estate software Real estate valuation and platform (subscription platform (subscription provider for real estate agents data specialist (sub
Slide 53: Portfolio deep dive Mobility and Finance & Insurances
Investor Relations Day - SMG Swiss Marketplace Group Portfolio deep dive Mobility and Finance & Insurances Mobility Finance & Insurances 2 Classifieds car platform Online comparison and Classifieds car and bike with transactional broker for finance & platform (subscription features insurance service
Slide 54: Portfolio deep dive General Classifieds & Marketplaces
Investor Relations Day - SMG Swiss Marketplace Group Portfolio deep dive General Classifieds & Marketplaces General Classifieds & Marketplaces 1 Marketplace with Free general classifieds Free general classifieds transactional features platform platform (transaction fee) (advertising) (advertising) 2
Slide 55: Brands launched new digital products during the pandemic
Investor Relations Day - SMG Swiss Marketplace Group During the pandemic, our brands launched new digital products & services to support customers and users Digital solution to view real estate New delivery options in cooperation with Car subscription comparison platform objects remotely the Swiss P
Slide 56: Pandemic accelerated digital consumption and focus on sustainability
Investor Relations Day - SMG Swiss Marketplace Group The pandemic has accelerated digital consumption and increased focus on sustainability, which offers a great opportunity Digital Sustainability consumption of global consumers are YoY growth rate of the willing to change their 57% behavior to be m
Slide 57: Growth opportunity in expansion along the value chain
Investor Relations Day - SMG Swiss Marketplace Group Another growth opportunity is the expansion along the value chain, for which the SMG Swiss Marketplace Group is well equipped Market trend scope expansion From traditional scope of C&M... ...towards fully digital transactions Transact (Sale / Rent
Slide 58: Combining data and technology will be a key pillar
Investor Relations Day - SMG Swiss Marketplace Group Combining data and technology will be a key pillar in this process Even better support in sales and marketing through data- driven product innovation and increasing personalization Economies of scale and significant investments in the digitalizati
Slide 59: Raising profile as an attractive employer
Investor Relations Day - SMG Swiss Marketplace Group By creating one of the leading Swiss digital companies, the new organization raises its profile as an attractive employer The merger of the organizations into a new group of companies opens up new exciting positions and career opportunities As one
Slide 60: SMG is an attractive investment with a strong market position
Investor Relations Day - SMG Swiss Marketplace Group The SMG Swiss Marketplace Group is an attractive investment with a strong market position and has tremendous potential for value creation Enhanced employer True local champion attractivity Strong focus on Transact Holistic insights expansion along
Slide 61: Four distinct phases towards a potential IPO
Investor Relations Day - SMG Swiss Marketplace Group Looking at the future roadmap, we see four distinct phases towards a potential initial public offering (IPO) official focus closing 2022 on growth in ca. 3-4 years become initial public offering Nov 2021 one company 2022 - 2024 (IPO) 61
Slide 62: Chairman JobCloud
TX Group Investor Day 62 Chairman JobCloud
Slide 63: The Swiss economy is stable and resilient
The Swiss economy is generally very stable and proved very resilient during the global pandemic, showing a quick economic recovery CH GDP growth YoY and vacancies (jobs.ch) COVID-19 Vacancies on Jobs.ch outbreak GDP Growth (YoY) 4% 3.4% 3.5% 3.3% 30k 3% 2.4% 1.9% 1.8% 2% 1.5% 1.6% 25k 0.9% 1% 0% 20k
Slide 64: JobCloud recorded a significant rebound
Coming out of the pandemic slowdown, JobCloud (JC) recorded a significant rebound… +34% +36% +50% Order intake New customers Applications sent (H1-21 vs. H1-20) (H1-21 vs. H1-20) (H1-21 vs. H1-20) 64
Slide 65: Expanded position as clear market leader in Switzerland
… and expanded its position as clear market leader in Switzerland Traffic comparison JC (jobs.ch, jobup.ch, jobscout24.ch) and Indeed (CH) 7m JobCloud (all platforms) 6m Indeed (CH) 5m JC generates roughly 3x more traction than 4m the closest competitor Indeed (CH) 3m 2m 1m 0m Dec- Feb- Apr- Jun- Au
Slide 66: JC holds stakes in several international companies
Semantic Parsing & Extraction SaaS Company Furthermore, JC holds stakes Austrian Job Portal in several international Leading Austrian Job Portal Recruiting Software Company companies, including the leading Austrian job Employee Referral Platform Mobile First Job Portal platform karriere.at Job Porta
Slide 67: Business model of JC is based on four main revenue streams
The business model of JC is based on four main revenue streams Revenue distribution of JC (FY 2021 illustrative) ● Classified: Income from selling media services/performance (job ads) on JC’s job portals based on a pay-per-duration model ● Programmatic: Income from selling automatically distributed
Slide 68: Classifieds business is the backbone of JC's success
Currently, the classifieds business around the portfolio of leading Swiss recruitment portals is the backbone of JC’s success Product overview Advantages & Pricing With JC job ads, companies find the best talents due to 1. A company has an open position to fill unmatched exposure on Switzerland's le
Slide 69: Investing in pay-per-performance and programmatic technology
By investing in pay-per-performance and programmatic technology and services, JC is at the forefront of the ongoing market shift Product overview Key Advantages JC’s Programmatic Technology automatically distributes and optimizes job ads through a network of channels including Innovative programmati
Slide 70: Investments in SMEs offer and Spotted set the course for growth
Additionally, through investments in the SMEs offer and the digital recruitment service Spotted, JC sets the course for further growth Dedicated SMEs offer - JobCloud.ai Expansion along the value chain - Spotted JC market penetration per customer segment1 Spotted addressable market2 Note: 1) Estimat
Slide 71: JobCloud.ai targets small companies
JobCloud.ai targets small companies - a customer segment with significant growth potential Product overview Key Advantages JobCloud.ai provides simple and efficient online recruiting Jobcloud.ai offers small companies self-service tools to services tailored for small customers focusing on recruit fa
Slide 72: Launch of Spotted marks expansion along the value chain
Whereas the launch of Spotted marks JC’s expansion along the value chain into the transactional business Product overview Key Advantages By combining technology and professional expertise, Spotted offers recruiting as a service; tailored sourcing and Spotted enhances the quantity and quality of the
Slide 73: JC investing in culture and employee welfare
JC is becoming an even better employer by investing more in culture and employee welfare, development and empowerment The new office is an example of the many initiatives JC is currently undertaking on the topic of employer attractivity - along with initiatives on culture and collaboration 73
Slide 74: Chairman & Publisher / Head of Communications & Investor Relations
TX Group Investor Day 74 Chairman & Publisher / Head of Communications & Investor Relations
Slide 75: Our share price has performed well, yet still has potential
Our share price has performed well, yet still has potential Our market capitalization - Nov 2021 > Around CHF 1.6 bn Our values - Nov 2021 > SMG Swiss Marketplace Group (31%) > JobCloud (51%) > Pro forma cash > Real estate > Tamedia > 20 Minuten > Goldbach > 7X Ventures 75 Ts
Slide 76: We want to grow and continue to create value
76 We want to grow and continue to create value - sustainably and with a long-term perspective. Our traditional business operations (Tamedia, 20 Minuten & Goldbach) are in transformation > we remain committed to quality journalism and to contribute to a free democratic society where people can form
Slide 77: TX Group Investor Day
TX Group Investor Day 77 270 464 135 135 • 194 112 • •
Slide 78: Dividend history 2000-2023e
78 • • • 5.75 4.50 4.50 4.50 4.50 4.50 4.50 4.20 4.20 4.20 4.20 4.00 4.00 4.00 3.50 3.00 3.00 2.50 1.50 1.50 1.50 1.50 0.00 0.00 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021e 2022e 2023e
Slide 79: Q&A
TX Group Investor Day Q&A Th
Slide 80: TX Group Investor Day
TX Group Investor Day 80