Viaplay Group Ab Class A · OMXSTO:VPLAY_A
Viaplay Group Ab Class A — Q4 2024 Earnings Presentation
22 slides from Viaplay Group Ab Class A's earnings presentation, Feb 20, 2025
Slide 1: Q4 2024 Results Presentation
Q4 2024 Results PRESENTATION 1
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 9% 5% organic sales growth 22% 44% EBIT (ex ACI & IAC) of SEK 210m With stronger underlying YoY improvement in EBIT when excluding the significant negative FX impacts on sales and content costs. 25% 4,757k Viaplay subscribers Core D2C Subscriber base and
Slide 5: Core operations performance by revenue line
CORE OPERATIONS PERFORMANCE BY REVENUE LINE VIAPLAY LINEAR CHANNEL SUBSCRIPTIONS SUBSCRIPTIONS 5% organic sales growth 9% organic sales growth Continued Focus: 44% of Core net sales 25% of Core net sales YoY reflects price increases introduced during the year offset by decline in the • Partnership m
Slide 6: Actions on DTC package pricing (Converted to SEK)
Actions on DTC package pricing (Converted to SEK) Price increase Q1 2025 Price at launch / price increase Q3 2024 Price increase Q1 2023 SEK Price increase Q4 2023 / H1 2024 Price end of 2022 760 731 699 76 98 150 523 11 57 399 390 20 49 684 634 549 266 227 454 38 204 169 30 165 159 23 23 379 15 151
Slide 7: Non-core operations update
NON-CORE OPERATIONS UPDATE Net sales of SEK 198m • Exit continues according to plan EBIT of SEK -36m • Poland to be closed down in mid 2025 SEK -462m Free cash flow 7
Slide 8: A unique content offer
A UNIQUE CONTENT OFFER Acquired Scripted & Documentaries Non-scripted Sports 8
Slide 9: World class sports rights
WORLD CLASS SPORTS RIGHTS CORE MARKETS *Starting from the 24/25 season 9
Slide 10: Q4 sports highlights and upcoming in Q1
Q4 SPORTS HIGHLIGHTS AND UPCOMING IN Q1 Q4 highlights Upcoming in Q1 O N G O I N G O N G O I N G 10
Slide 11: Q4 film and series highlights and upcoming in Q1
Q4 FILM AND SERIES HIGHLIGHTS AND UPCOMING IN Q1 Q4 highlights Upcoming in Q1 DENMARK NORWAY 11
Slide 12: 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 13: What we want to achieve
WHAT WE WANT TO ACHIEVE Levers to enhance profitability and cash flow Ambitions for Core Price increases Low to mid-single digit percentage revenue growth Content cost rationalisation Positive free cash flow for Core in 2025 (2027 for Group) Double-digit operating profit margins in 2028 Sports right
Slide 14: Group performance
GROUP PERFORMANCE SEKm Q4 2024 Q4 2023 FY2024 FY2023 Core Net Sales 4,638 4,566 17,598 17,332 Core Operating expenses -4,428 -4,550 -17,779 -17,243 Core operating income (ex ACI & IAC) 210 16 -181 89 Non-core Operating Income (ex ACI & IAC) -36 -246 -88 -1,204 Group Operating income (ex ACI & IAC) 1
Slide 15: Resetting the cost base
RESETTING THE COST BASE OpEx overview Indicative share of Group OpEx (%) Other 1 Sports: Tech 10% Majority of contracts locked in over multi-year periods Sales & Marketing 5% 5% Acquired content: Largest deals are locked in until 2025 Content 80% Originals: Focus on popular non-scripted formats Note
Slide 16: Allente update
ALLENTE UPDATE SEKm Q4 2024 Q4 2023 FY 2024 FY 2023 Net sales 1,598 1,643 6,548 6,610 EBITDA before IAC 219 242 996 874 • Customer base development in line Depreciation & amortisation with expectations. -132 -127 -510 -513 EBIT before IAC 87 115 486 361 • Net sales -3% YoY driven by Items affecting
Slide 17: Cash flow and financial position
CASH FLOW AND FINANCIAL POSITION SEKm Q4 24 Q4 23 FY24 FY23 Cash flow from operations -4 -401 -919 -1,442 • No further dividends received from Allente Change in working capital 392 -1,224 -1,080 -1,906 • Changes in working capital of Net operating cash flow 388 -1,625 -1,999 -3,348 392m reflected im
Slide 18: Group free cashflow
GROUP FREE CASHFLOW Q4 2024 (SEKM) -462 636 384 210 Core Ebit Core WC and other Non core cashdrag Free cashflow 1) Includes working capital and other items, incl. finance net, tax, capex 18
Slide 19: 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 19
Slide 20: Debt maturity profile
DEBT MATURITY PROFILE Debt maturity profile Q4 2023 Post recapitalisation SEK 7,250m excl. guarantee facilities SEK 5,250m excl. guarantee facilities 6 000 6 000 5,350 4,216 5 000 5 000 2 500 Undrawn RCF 4 000 4 000 3,392 3 000 3 000 Drawn RCF 2 000 1 500 1,034 2 000 900 1 000 700 650 1 000 600 300
Slide 21: 2025 financial targets
2025 FINANCIAL TARGETS Core operations Net Sales Low-to-mid single digit percentage growth Core operations free cash Positive flow* *Cash flow from operating activities plus cash flow from investing activities excluding the acquisition or disposal of operations 21 VIAPLAY SERIES: MASTERCHEF DK
Slide 22: Q&A
Q&A Q4 2024 Results INVESTORS@VIAPLAYGROUP.COM