Cliq Digital AG · XETR:CLIQ
Cliq Digital — FY2022 Earnings Presentation
30 slides from Cliq Digital's earnings presentation, Feb 21, 2023
Slide 1: FY 2022 Financial Results
FY 2022 Financial Results 21 February 2023
Slide 2: CLIQ Digital | At a Glance
CLIQ DIGITAL | AT A GLANCE 2025e 2025e 4 – 5m €500m WE SELL BUNDLED 2023e 2023e STREAMING SERVICES >€345m >€50m ON A SUBSCRIPTION 2022 2022 2022 BASIS TO CONSUMERS 1.9m €276m €44m GLOBALLY MEMBERSHIPS SALES EBITDA 95% CAGR 29.0 164 Employees employees 40% 60% 40% PAYOUT RATIO 10.4 18.2 €4.47 EPS PRO
Slide 3: Business Model
BUSINESS MODEL 3
Slide 4: Vision and Mission
CLIQ DIGITAL | BUSINESS MODEL VISION MISSION At Cliq Digital, we believe We bring simplicity to the streaming streaming content should market, by creating all-in-one be accessible to everyone. streaming services that go beyond one content category. Business Model 4
Slide 5: Business Model | Our Approach
BUSINESS MODEL | OUR APPROACH LICENCING We licence streaming content from partners across multiple categories, ranging from movies & series, music, audiobooks to sports and games. At CLIQ We sell subscription-based BUNDLING streaming services that We store, bundle and curate digital bundle movies &
Slide 6: Business Model | Online Advertising
BUSINESS MODEL | ONLINE ADVERTISING By using online advertising, We do not share our The domains contain CLIQ uses multiple (marketing) domains crucial information and categorised marketing publicly, as we consider knowledge on domains. them to be a company where and how we secret and are therefore
Slide 7: Business Model | Our Products
BUSINESS MODEL | OUR PRODUCTS Numerous streaming services We spark streaming consumers’ interest in our numerous streaming services, using online advertising. Flagship streaming service Our strong track record in building streaming services has brought us closer to achieving our dream cliq.de: our m
Slide 8: Business Model | Streaming Service Examples
BUSINESS MODEL | STREAMING SERVICE EXAMPLES CLIQ’s business model centres on the selling of streaming services that bundle movies & series, music, audiobooks, sports and games to consumers globally Business Model https://cliqdigital.com/campaigns 8
Slide 9: Our Flagship Streaming Service: cliq.de
BUSINESS MODEL | OUR FLAGSHIP STREAMING SERVICE Our most advanced all-in-one streaming service: cliq.de as a new benchmark Business Model https://cliq.de 9
Slide 10: cliq.de | Affordable All-in-One Service
cliq.de | AFFORDABLE ALL-IN-ONE SERVICE ▪ €6.99 monthly ▪ 5 content ▪ Live ▪ Continuous price categories for broadcasts, content ▪ 30-day free the whole family VOD, linear TV, updates trial period ▪ Subscription HD quality ▪ Value-for- sharing on up to available money ▪ Anytime cancellation 8 device
Slide 11: Business Model | German Price Point Comparison
BUSINESS MODEL | GERMAN PRICE POINT COMPARISON Movies & Series ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ Music ✓ ✓ ✓ ✓ ✓ ✓ ✓ Audiobooks ✓ ✓ ✓ ✓ ✓ Sports ✓ ✓ ✓ ✓ ✓ Games ✓ ✓ ✓ ✓ ✓ PRICE IN € 6.99 6.99 8.99 9.99 12.99 14.90 14.99 16.99 17.99 17.99 22.95 24.99 29.99 8.99 EXAMPLE n/a 6.99 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/
Slide 12: Business Model | Our Key Differentiators
BUSINESS MODEL | OUR KEY DIFFERENTIATORS POSITIONING CONTENT ▪ Bundled streaming services ▪ Licenced, not owned addressing the mass market ▪ More local than global focus with 1 service containing 5 content categories ▪ Content cost is either a fixed amount, revenue-based or ▪ Single-content services
Slide 13: Growth Story
: a t. GROWTH STORY
Slide 14: Growth Story
GROWTH STORY in millions of € Marketing spend Sales EBITDA % EBITDA margin 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 83 77 64 53 47 40 33 30 30 30 30 30 30 27 23 20 20 17 18 14 15 14 9 12 9 10 8 7 8 5 5 6 1 1 2 2 2 4 5 5 5 6 7 8 8 10 12 13 8% 10% 11% 11% 11% 15%
Slide 15: FY 2022 | Sales Breakdowns
FY 2022 | SALES BREAKDOWNS ( IN % OF TOTAL SALES ) BY SERVICE BY REGION BUNDLED CONTENT NORTH AMERICA €276m €276m SINGLE-CONTENT EUROPE 3% 1% AD-FUNDED DIGITAL REST OF WORLD 5% MARKETING SERVICES 9% LATIN AMERICA 37% €150m €150m 7% 8% 21% 88% 42% 57% 72% 50% Growth Story FY 2021 FY2022 FY 2022 FY 20
Slide 16: FY 2022 | More Marketing, More Members, More Sales
FY 2022 | MORE MARKETING, MORE MEMBERS, MORE SALES Marketing spend Lifetime Value of Customer Base 6M-Profitability Index Number of members x Remaining lifetime value per member Customer Base (number of paid memberships) €112m €141m €87m €54m 1.45x 1.9m €50m €34m €38m 1.3m €22m 1.59x 0.9m 1.68x 0.6m
Slide 17: Financials
4; aie cue FINANCIALS ~
Slide 18: FY 2022 | Income Statement
FY 2022 | INCOME STATEMENT in millions of € FY 2022 FY 2021 Δ 4Q 2022 4Q 2021 Δ Sales 276.1 150.0 84% 82.8 46.8 77% Cost of sales -201.3 -98.8 -62.4 -32.0 Operating expenses -31.3 -24.0 -7.6 -6.6 EBITDA 43.5 27.2 60% 12.7 8.2 55% margin 16% 18% 16% 18% Depreciation & amortisation -1.4 -0.9 -0.4 0.0
Slide 19: FY 2022 | Marketing Costs
FY 2022 | MARKETING COSTS in millions of € FY 2022 FY 2021 Δ 4Q 2022 4Q 2021 Δ Marketing spend 112.3 54.4 106% 29.8 19.5 52% Capitalised marketing spend -107.5 -47.0 -29.9 -17.1 (contract costs) Amortised contract costs 85.0 37.5 28.3 12.6 Marketing costs 89.7 44.9 100% 28.2 15.0 88% in % of total s
Slide 20: FY 2022 | Cash Conversion
FY 2022 | CASH CONVERSION in millions of € FY 2022 FY 2021 EBITDA 43.5 27.2 ∆ Contract costs -22.5 -9.5 ∆ Other working capital 4.5 8.3 Taxes, financial result & others -1.7 -5.2 Cash flow from operating activities 23.8 20.8 Cash flow from investing activities -8.4 -4.8 31/12/2021 31/12/2022 Operati
Slide 21: FY 2022 | Balance Sheet
FY 2022 | BALANCE SHEET ASSETS in millions of € 31/12/2022 31/12/2021 EQUITY & LIABILITIES 31/12/2022 31/12/2021 Goodwill 47.4 48.2 Equity 81.3 59.6 (In)tangible & financial assets 15.3 7.9 Deferred tax liabilities 10.5 4.1 Contract costs 39.6 17.1 Bank borrowings 6.6 5.0 Deferred tax assets 1.6 2.6
Slide 22: Outlook
CLIC DIGITAL OUTLOOK
Slide 23: Outlook | 2023
OUTLOOK | 2023 in millions of € 2019 2020 2021 2022 2023e Main organic growth drivers Sales 63 107 150 276 >345 Internal: Marketing spend 22 34 54 112 >120 ▪ Increased marketing spend EBITDA 6 16 27 44 >50 ▪ Broaden targeting options on Google ▪ New advertising platforms, media sources and exchanges
Slide 24: Outlook | Sustainability
OUTLOOK | SUSTAINABILITY 2023 activities Milestones ▪ Measuring the Group’s carbon footprint to determine its scope 1, 2 and 3 of greenhouse ▪ Co-operation with strategic partners to gases (GHG) reduce overall GHG emissions ▪ Consolidating talent management activities ▪ Further promote awareness and
Slide 25: Q&A
Q&A cliqdigital.com/investors investors@cliqdigital.com
Slide 26: Investor Information
INVESTOR INFORMATION
Slide 27: Reasons to Invest
REASONS TO INVEST 01 02 Growth company with a proven Experienced team of industry successful and profitable business professionals in streaming services model and online advertising 03 04 Strong track record with own online Highly scalable and resilient business advertising team and creating all-in-
Slide 28: The Shares (as at February 2023)
THE SHARES (as at 17 February 2023) 2019 2020 2021 2022 €41.30 €24.70 €25.20 Market cap €198m €16.60 52W High €33.60 CLIQ DIGITAL AG 3M Avg traded shares (LHS) 52W Low €15.92 SCALE 30 Price Index €2.90 MSCI WOLD SMALL CAP Avg. Vol 10.5k €1.70 Jan Apr Jun Sep Jan Apr Jun Sep Jan Apr Jun Sep Jan Apr J
Slide 29: Investor Relations | 2023 Financial Calendar
INVESTOR RELATIONS | 2023 FINANCIAL CALENDAR Sebastian McCoskrie 21 Feb FY 2022 Annual report & earnings call FINANCIAL Head of Investor Relations 6 Apr Annual General Meeting REPORTING +49 151 520 436 59 4 May 1Q 2023 Financial Statement & earnings call s.mccoskrie@cliqdigital.com 3 Aug 2Q/6M 2023
Slide 30: Disclaimer
DISCLAIMER This presentation is for information purposes only and does not constitutes a public offer to buy or sell or a public call for the purchase or sale of CLIQ Digital AG securities. Neither this presentation nor any other content of this presentation constitute the basis for the conclusion o