Viaplay Group Ab Class A · OMXSTO:VPLAY_A
Viaplay Group Ab Class A — Q3 2025 Earnings Presentation
21 slides from Viaplay Group Ab Class A's earnings presentation, Oct 22, 2025
Slide 1: Q3 2025 Results Presentation
Q3 2025 Results PRESENTATION
Slide 2: Important notice
Important notice This presentation has been prepared for information purposes only. The presentation is not intended to form the basis of any investment activity or decision. The presentation should not be considered as a recommendation in relation to an investment in Viaplay Group, nor does it cons
Slide 3: Speakers
SPEAKERS Jørgen Madsen Johan Johansson Anna Hedenberg Lindemann CFO and Co-CEO Investor Relations President and CEO Sweden
Slide 4: Core operations performance
CORE OPERATIONS PERFORMANCE SALES BY CATEGORY 6% -2.7% organic sales growth +0.5% organic sales growth when excluding Sublicensing & other 19% 47% EBIT (ex ACI & IAC) of SEK -56m 29% 4,303k Viaplay subscribers Viaplay streaming subscription Linear channel subscription Advertising Sublicensing & Othe
Slide 5: Core operations performance by revenue line
CORE OPERATIONS PERFORMANCE BY REVENUE LINE VIAPLAY LINEAR CHANNEL SUBSCRIPTIONS SUBSCRIPTIONS -1% organic sales growth 1% organic sales growth 29% of Core net sales Continued Focus: 47% of Core net sales YoY development reflects ongoing YoY development reflected growth of transformation of distribu
Slide 6: Non-core operations update
NON-CORE OPERATIONS UPDATE Net sales of SEK 4m • The discontinuation of the Polish EBIT of SEK 0m operations was successfully completed on 30 June 2025 SEK -39m Free cash flow 6
Slide 7: A unique content offer
A UNIQUE CONTENT OFFER Acquired Scripted & Documentaries Non-scripted Sports 7
Slide 8: World class sports rights
WORLD CLASS SPORTS RIGHTS G cow | ebO “Ser le) (eee X 2028 2029 2028 2029 2028 2026 2028 2026 2025 2028 2029 2027 2025 2027 2031 2030 2030 2026 X 2026 2027 2025 2027 2027 2027 crets LIGUIE 1 xX 2028 2029 =X = 2029 2028 «2026 2028 2026 2025 2028 2029 2027 2025 2027 oy ono) 2030 2026 2030 2026 2027 20
Slide 9: Q3 sports highlights and upcoming in Q4
Q3 SPORTS HIGHLIGHTS AND UPCOMING IN Q4 Q3 highlights Upcoming in Q4 9
Slide 10: Q3 film and series highlights and upcoming in Q4
Q3 FILM AND SERIES HIGHLIGHTS AND UPCOMING IN Q4 Q3 highlights Upcoming in Q4 10
Slide 11: The Nordic region's leading entertainment provider
THE NORDIC REGION’S LEADING ENTERTAINMENT PROVIDER 1 2 3 • Re-focus top-line drivers • Improve return on content • Organisational restructuring investment ‒ Value over volume ‒ Sell/partner/close Baltics, ‒ Focus on commercially & Poland, UK, US & Canada, ‒ Increase D2C pricing to locally relevant c
Slide 12: Group performance
GROUP PERFORMANCE SEKm Q3 2025 Q3 2024 FY2024 Core Net Sales 4,014 4,209 17,598 Core Operating expenses -4,070 -4,258 -17,779 Core operating income (ex ACI & IAC) -56 -49 -181 Non-core Operating Income (ex ACI & IAC) 0 -7 -88 Group Operating income (ex ACI & IAC) -56 -56 -269 Associated company inco
Slide 13: Allente update
ALLENTE UPDATE SEKm Q3 2025 Q3 2024 FY 2024 Net sales 1,524 1,645 6,548 EBITDA before IAC 289 285 996 • Revenue decline of 7% YoY as Depreciation & amortisation ARPU growth did not offset -146 -125 -510 subscriber loss. EBIT before IAC 143 160 486 Items affecting comparability • Lower costs in Q3 Yo
Slide 14: Cash flow and financial position
CASH FLOW AND FINANCIAL POSITION SEKm Q3 25 Q3 24 FY24 • SEK 200m dividend received from Allente Cash flow from operations 54 -152 -919 • Changes in working capital of SEK -1,243m (-1,365) reflected seasonally higher sports payments, partly offset Change in working capital -1,243 -1,365 -1,080 by po
Slide 15: Group free cashflow
GROUP FREE CASHFLOW Q3 2025 (SEKM) -56 -1 098 -39 -1 193 Core Ebit Core WC and other¹ Non core cashdrag Free cashflow 1) Includes working capital and other items, incl. finance net, tax, capex 15
Slide 16: Non-core cash drag
NON-CORE CASH DRAG Estimated phasing 2024-2028* of non-core cashdrag of SEK 2.2bn Actual -0,8 -0,5 -0,5 -0,4 -0,1 2024 2025 2026 2027 2028 *The provided phasing is an estimate, and actual figures may vary between the years 16
Slide 17: Debt maturity profile
DEBT MATURITY PROFILE Debt maturity profile Post recapitalisation Updated 11,244 12 000 12 000 10 000 10 000 7 028 7,867 8 000 8 000 6 000 6 000 4 226 4 000 4 000 3,392 2,817 2 000 1,034 2 000 1,034 824 824 0 0 FY25 FY26 FY27 Jun'28 Dec'28 FY25 FY26 FY27 Jun'28 Dec'28 Private placements MTN Programm
Slide 18: 2025 financial targets
2025 FINANCIAL TARGETS1 Viaplay Group’s operational and financial targets for 2025 were updated in conjunction with the announcement of the Allente acquisition on 17 July 2025. These targets remain unchanged and are as follows: Pro forma Core Net sales SEK 21.0-22.0 billion Pro forma Core EBITDA bef
Slide 19: Pro forma 2025 core net sales guidance bridge
PRO FORMA 2025 CORE NET SALES GUIDANCE BRIDGE SEK 21.0-22.0 billion Pro forma net sales needs to be adjusted for related party transactions between Viaplay Group & Allente. Pro forma Core Net Sales guidance SEK 21.0-22.0 billion Viaplay Group Allente Net Sales Related party transactons Pro Forma Net
Slide 20: Long term ambitions
LONG TERM AMBITIONS Viaplay Group’s long-term financial ambitions were updated in conjunction with the announcement of the Allente acquisition on 17 July 2025. These ambitions remain unchanged and are as follows: Core organic sales growth On average flat over the period 2025-2028 Core EBITDA before
Slide 21: Q&A
Q&A Q3 2025 Results INVESTORS@VIAPLAYGROUP.COM