Ooh Media Ltd · ASX:OML

Ooh Media — FY2024 Earnings Presentation

39 slides from Ooh Media's earnings presentation, Feb 24, 2025

  1. Slide 1: Full Year Results Presentation

    oOh!media Limited ABN 69 602 195 380 24 February 2025 ASX Release FULL YEAR RESULTS PRESENTATION oOh!media Limited (ASX:OML) (oOh!) in accordance with ASX Listing Rules attaches the 2024 Full Year presentation. This announcement has been authorised for release to the ASX by the Chief Executive Offic

  2. Slide 2: Full Year 2024 Results

    Full Year 2024 Results 24 February 2025

  3. Slide 3: Acknowledgement of Country

    Acknowledgement of Country We acknowledge the Traditional Custodians of Country throughout Australia and their connections to land, sea and community. We pay our respects to their Elders past and present and extend that respect to all Aboriginal and Torres Strait Islander People. 2.

  4. Slide 4: Agenda

    Agenda Presenters: Cathy O’Connor (CEO) and Chris Roberts (CFO) 1. Reasons to invest in oOh! 2. CY24 results summary 3. Financials & commercial contracts 4. Strategy update 5. Outlook and key messages 6. Questions 3.

  5. Slide 5: oOh! investment case

    oOh! investment case Out of Home (OOH) sector captures record share of agency media1, and sector revenue is projected to grow 8% in 20252 OOH share of Total Media (SMI) 16.0% 15.3% 15.0% 14.3% 14.5% 13.6% 14.0% 13.0% 12.5% 12.3% ANZ’s #1 OOH company, % OOH of SMI 11.6% 12.0% 11.0% 10.9% 10.7% 10.5%

  6. Slide 6: Strategy to focus on revenue growth

    Strategy to focus on revenue growth 1. Energise our go-to-market 2. Unlock our network potential 3. Lead in retail media 5.

  7. Slide 7: CY24 Results Summary

    CY24 Results Summary TASMANIA }

  8. Slide 8: Results in Focus

    Results in Focus CY24 revenue $636M, with momentum building in 2H 2024, and accelerating in 1Q 2025 Retaining strong contract discipline and taking action to preserve robust margins Successful contract wins, with $38M of incremental annualised revenue starting from 2025 reo continues momentum with t

  9. Slide 9: CY24 Key Financials

    CY24 Key Financials Adjusted Underlying EBITDA at upper end of guided range from December 2024 trading update KEY PERFORMANCE REPORTED METRICS VS PCP1 METRICS VS PCP1 Revenue Gross Profit 0% +4% $635.6M $433.8M Adjusted Gross Up 0.4 Underlying Opex Margin2 +3% ppts $144.4M 44.7% Adjusted Underlying

  10. Slide 10: oOh! built momentum in 2H across all formats

    • Revenue flat on the pcp, with improved oOh! built momentum in momentum across all formats in 2H indicating management actions are gaining traction 2H across all formats • Underlying revenue growth of 6% was offset by the decision to exit Vicinity and renegotiate non-media contracts to protect marg

  11. Slide 11: Financials & Commercial Contracts

    Financials & Commercial Contracts 10.

  12. Slide 12: Key Financial Highlights

    280.8 284.4 274.0 46.2% 44.1% 44.3% 44.7% 222.0 Key Financial CY 2021 CY 2022 CY 2023 CY 2024 CY 2021 CY 2022 CY 2023 CY 2024 Highlights Adjusted Gross Profit($M) Adjusted Gross Profit Margin % Growth in gross profit and gross margin, and 21.4% 20.5% 20.3% disciplined cost control reo 15.4% 1.5% 1.4

  13. Slide 13: CY24 results

    CY24 results • Gross margin improved 0.4 ppts to 44.7% • Underlying EBITDA margin declined 0.2 ppts to driven by the exit or renegotiation of lower 20.3% due to lower than expected revenue margin contracts4. growth CY 2024 CY 2023 Change1 Change • Operating expenditure before non-operating • Net fin

  14. Slide 14: Restructuring to simplify operations and drive stronger performance

    COGS savings Operational costs savings • Process • Restructuring of roles and teams, removing and optimisation simplifying spans and layers in the organisation to resulting in direct drive accountability. Reduction in salary costs, with Restructuring to cost savings affected roles finalised in Janua

  15. Slide 15: Increase in working capital and taxation payments impacting cash flow

    Increase in working capital • Free cash flow decline impacted by lower revenue and a short-term drag on working and taxation payments capital impacting cash flow • Cash from operating activities was down $41.6M on the pcp impacted by revenue performance, as well as: CY 2024 CY 2023 Change Cash flows

  16. Slide 16: Continuing to enhance oOh!'s network with quality assets

    Continuing to enhance oOh!’s network with quality assets in highly desirable locations. • Winning desirable contracts and locations • Roll out quality and captivating assets for advertisers 15.

  17. Slide 17: Diversified, long-dated revenues with 50% of contracts expiring from CY 2029+

    Diversified, long-dated revenues with 50% of contracts expiring from CY 2029+ • oOh!’s success rate in renewing desired contracts is > 95% and oOh! will compete rationally for high-value contracts • Auckland Transport contract extended to September 2025, and awaiting release of Adjusted revenue1 con

  18. Slide 18: Strategy update

    wee eo a ] | hy ie i . a Strategy update 1 777 ; i> Sf SEEK THE ORANGE ENCOUNTER THE FAUBOURG adits coh! PARE unmissable

  19. Slide 19: Out of Home growth has outperformed TV, radio and digital post-COVID

    Out of Home growth has outperformed TV, radio and digital post-COVID Out of Home growth will continue OOH sector projected to grow 8% in 2025 to capture the spend shift from 160 traditional media through the following industry drivers: Media sector growth since 2021 indexed at 100 140 120 Lower CPMs

  20. Slide 20: Three strategic pillars to cement leadership and accelerate growth

    oOh! set to cement leadership position and accelerate growth ambitions through three strategic pillars 01. 02. 03. Energise our go-to- Unlock our network Lead in retail media market potential Build a market-leading Strengthening sales Win the right mix of independent retail leadership, and making hi

  21. Slide 21: Pillar 1 – Energise our go-to-market

    Outcome Drive revenue and market share growth through better use of oOh!’s assets and faster client response times Pillar 1 – Energise our go-to-market Strengthening sales leadership, and making it easier for our customers to do business with us Restructuring Building tools Simplification and stream

  22. Slide 22: Pillar 2 – Unlock our network potential

    Outcome Build a strategic portfolio of high-impact advertising assets that maximize audience reach while delivering strong value for investors Pillar 2 – Unlock our network potential Win the right mix of high-value contracts at the right price Secure the #1 Ensure oOh! Continue to position in road,

  23. Slide 23: Pillar 3 – Lead in retail media

    Outcome Create the leading independent retail media platform, reo, that capitalises on oOh!’s strengths in asset rollouts and media sales to tap into new sources of revenue growth Pillar 3 – Lead in retail media Partner with retailers to establish & operate an New customer Monetisation stage Interes

  24. Slide 24: Outlook

    Outlook 23.

  25. Slide 25: Outlook

    Outlook Q1 growth demonstrating improved execution in the context of structural shift to Out Of Home • oOh!’s strong momentum has continued, with 14% growth February 2025 YTD achieved and pacing up 14% on the pcp for the whole of Q11 • Full complement of Sydney Metro assets expected to be added over

  26. Slide 26: Key messages

    Key messages Strong revenue momentum into CY 2025 • Management actions drove better performance across all formats in 2H 2024 • Revenue momentum continuing with double-digit growth for 1Q 2025 Contract discipline delivers gross margin growth • Gross profit margin grew to 44.7% due to exit or renegot

  27. Slide 27: Questions

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  28. Slide 28: Appendix

    Appendix 27.

  29. Slide 29: Advertising category performance - SMI

    Advertising category performance - SMI1 CY 2024 SMI category share for Out of Home SMI Total Agency Media Spend CY 2024 vs CY 2023 -20% -15% -10% -5% 0% 5% 10% 15% 20% 25% 30% 10% Retail Retail 5% Alcoholic Beverages Automotive Brand Food/Produce/Dairy 7% Insurance Automotive Brand 43% Restaurants F

  30. Slide 30: oOh! revenue growth lower than OMA growth

    oOh! revenue growth lower than OMA growth, impacted by exit of contracts and share loss 9.0% 8.0% 1.5% 7.9% 7.0% 1.0% 6.5% 6.0% 5.2% CY 2024 revenue growth 5.0% 4.0% 3.0% 2.0% 1.0% 0.3% 0.0% Exit of Vicinity contract Normalised oOh! revenue growth OMA 2024 performance oOh! 2024 revenue growth Renego

  31. Slide 31: Reported profit & loss

    Reported profit & loss Net Profit After Tax increased by $2M over the prior year CY 2024 CY 2023 Change Change REPORTED P&L $M $M $M % Revenue 635.6 633.9 1.7 0.3 Cost of media sites and production (201.8) (216.2) 14.4 6.7 Gross profit 433.9 417.8 16.1 3.9 Gross profit margin (%) 68.3% 65.9% 2.4 ppt

  32. Slide 32: Balance sheet

    Balance sheet Financial position remains strong with gearing of 0.8X, below management’s target of 1.0X • Balance sheet strength with gearing at 0.8x 31 Dec 2024 31 Dec 2023 Change Balance sheet1 $M $M $M • Right of use assets and liabilities have Cash and cash equivalents 19.8 31.6 (11.9) increased

  33. Slide 33: Adjusted COGS bridge

    Adjusted COGS bridge 360.0 353.1 5.1 351.3 350.0 (0.9) (6.0) 340.0 $M 330.0 320.0 310.0 300.0 COGS CY 2023 Key contract changes/exit Fixed rent increases - existing/new Other COGS CY 2024 Notes • Key contract changes/exit refers to both savings from exiting lower margin contracts, as well as changes

  34. Slide 34: Adjusted opex bridge

    Adjusted opex bridge 170.0 165.0 160.0 3.5 159.4 2.2 0.8 155.9 155.0 4.2 (2.0) 150.6 150.0 $M 145.0 140.0 135.0 130.0 125.0 120.0 Opex CY 2023 Labour inflation reo headcount One-off items Other Underlying opex Non-operating items Opex CY 2024 Notes • reo headcount refers to the investment in salary

  35. Slide 35: Reported NPAT to Adjusted NPAT reconciliation

    Reported NPAT to Adjusted NPAT reconciliation CY 2024 CY 2023 Change ($M) ($M) ($M) Reported NPAT 36.6 34.6 2.0 AASB 16 income and expense items: AASB 16 income (0.2) (0.5) 0.3 Fixed lease obligations (161.0) (147.6) (13.4) Depreciation 129.0 123.8 5.2 Interest 41.8 34.4 7.3 Tax effect of AASB 16 it

  36. Slide 36: Adjusted vs reported results reconciliation

    EBITDA increase of $161M offset by a Adjusted vs reported results reconciliation depreciation and amortisation increase of $129M and interest expense increase of P&L CY 2024 CY 2024 Change 1 $42M, resulting in NPAT before amortisation ADJUSTED ($M) REPORTED ($M) ($M) of acquired intangibles decrease

  37. Slide 37: Financial information notice and glossary

    Glossary Financial information notice EBIT Earnings before interest and tax Earnings before interest, tax, oOh!’s Financial Statements for the year ended 31 EBITDA depreciation and amortisation December 2024 presented in accordance with Australian Accounting Standards. NPAT Net profit after tax oOh!

  38. Slide 38: Financial information notice

    Financial information notice This document is a presentation of general background information about the activities Forward looking statements are provided as a general guide only and should not be of oOh!media Limited (oOh!media or oOh!) current at the date of the presentation, 24 relied on as an i

  39. Slide 39: Talk to us

    Talk to us Sydney T +61 (2) 9927 5555 Level 2, 73 Miller Street North Sydney NSW 2060 Melbourne T +61 (3) 8598 0700 Level 3, 101 Moray Street South Melbourne VIC 3205 Brisbane T +61 (7)3620 2900 56 Doggett Street Newstead QLD 4006 Adelaide T +61(8)8367 3222 84 Frome Street Adelaide SA 5000 Perth T +

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