Prosiebensat.1 Media Se · XETR:PSM

Prosiebensat.1 Media — Q1 2024 Earnings Presentation

24 slides from Prosiebensat.1 Media's earnings presentation, May 14, 2024

  1. Slide 1: Q1 2024 Results Presentation May 14, 2024

    To be updated by IR Q1 Q1 2024 2024 Results Presentation May 14, 2024 Results Presentation May 14, 2024 © Seven.One © ProSieben / Willi / Sven Weber Doornkaat

  2. Slide 2: Summary, Financials, Operations, Outlook

    © Seven.One © ProSieben / Claudius / SAT.1 Pflug / Claudius Pflug © Sat.1/ Willi Weber © Pro7/Willi Weber © Seven.One / Willi Weber 01 02 03 04 Summary Financials Operations Outlook

  3. Slide 3: Summary

    To be updated by IR 01 Summary © ProSieben / SAT.1 // Claudius © Seven.One Claudius Pflug Pflug

  4. Slide 4: Key Financial Highlights

    Group revenue growth of 6% Entertainment business and Entertainment advertising to EUR 867m in Q1 2024 non-core activities each DACH revenue growth of 5% supported by continuing recovery of contribute about half to in Q1 2024 driven by increase of both Entertainment DACH advertising Group revenue gr

  5. Slide 5: Financials

    To be updated by IR 02 Financials © Seven.One / Florida © TVSat.1/ / Julian Mathieu Willi Weber

  6. Slide 6: ProSiebenSat.1 off to a strong start in 2024, adjusted EBITDA up 35%

    PROSIEBENSAT.1 OFF TO A STRONG START IN 2024, AS EXPECTED - ADJUSTED EBITDA UP 35% IN Q1 2024 COMMENTS • Group revenues increased by 6% to EUR REVENUES, EARNINGS AND CASH FLOW KPIS [IN EUR M] 867m in Q1 2024 reflecting continued positive trend of Group advertising DACH business and strong growth of

  7. Slide 7: Entertainment revenues up 5% with almost all businesses contributing

    ENTERTAINMENT REVENUES UP 5% WITH ALMOST ALL BUSINESSES CONTRIBUTING TO REVENUE GROWTH COMMENTS • Entertainment revenues increased by 5%, ENTERTAINMENT EXTERNAL REVENUES AND ADJ. EBITDA [IN EUR M] both on reported basis and on portfolio and currency-adjusted basis Q1 2024 Q1 2023 YoY • Entertainment

  8. Slide 8: Commerce & Ventures shows dynamic and profitable growth in Q1 2024

    COMMERCE & VENTURES SHOWS DYNAMIC AND PROFITABLE GROWTH IN Q1 2024 COMMENTS • Commerce & Ventures segment recorded COMMERCE & VENTURES EXTERNAL REVENUES AND ADJ. EBITDA [IN EUR M] very dynamic revenue growth of 20% on a reported basis and of 23% on a portfolio and currency-adjusted basis Q1 2024 Q1

  9. Slide 9: Dating & Video segment still negatively affected by consumer contract regulation

    DATING & VIDEO SEGMENT STILL NEGATIVELY AFFECTED BY CONSUMER CONTRACT REGULATION COMMENTS • Dating & Video segment recorded revenue DATING & VIDEO EXTERNAL REVENUES AND ADJ. EBITDA [IN EUR M] decrease of -9% in Q1 2024 • Dating revenues in Q1 2024 declined by Q1 2024 Q1 2023 YoY -12% vs. Q1 2023. Pa

  10. Slide 10: Net financial debt reduced, financial leverage improved to 2.6x

    NET FINANCIAL DEBT REDUCED COMPARED TO END OF PRIOR YEAR’S FIRST QUARTER - FINANCIAL LEVERAGE IMPROVED SLIGHTLY TO 2.6X NET FINANCIAL DEBT IN EUR M DEBT MATURITY PROFILE IN EUR M (as of April 2024) -129 SSD2) 2016 SSD2) 2021 Term Loan Extended Term Loan RCF3) 1,153 2.7x1) 2.7x1) 2.6x1) 353 1,682 1,5

  11. Slide 11: Operations

    To be updated by IR 03 Operations © Seven.One / Willi Weber © Pro7/Willi Weber

  12. Slide 12: Entertainment | Joyn with continued double-digit growth

    ENTERTAINMENT | JOYN WITH CONTINUED DOUBLE-DIGIT GROWTH 6.5m 9.2bn +50% Monthly video Minutes video Joyn AVOD users Q1 20241) viewtime Q1 20241) revenues Q1 2024 vs. PY2) +42% vs. PY +21% vs. PY Impressive growth trajectory continues and Joyn is reaching its best quarter in its history in Q1 2024 (f

  13. Slide 13: Entertainment | Investments into local content improving audience shares and net reach

    ENTERTAINMENT | INVESTMENTS INTO LOCAL CONTENT ALREADY RESULTING IN IMPROVED AUDIENCE SHARES AND HIGHER NET REACH P7S1 additional program expenses +~80m In EURm FY 2024 Top programs Q1 2024 +18m Total net reach based on viewing duration for at least 1min, A 3+2) Q1 2023 Q1 2024 Total net viewers 10m

  14. Slide 14: Entertainment | Selection of upcoming TV and streaming highlights

    ENTERTAINMENT | SELECTION OF UPCOMING TV AND STREAMING HIGHLIGHTS FEBRUARY +2.7%p +2.0%p APRIL +1.9%p MAY JULY AUGUST vs. slot-Ø1) vs. slot-Ø1) vs. slot-Ø1) Das 1% Quiz The Floor Allgemeinwissensquiz Honeymoon Island Hast Du Töne? Murmel Mania The Tribute PRIME TIME MAY Second SUMMER FEBRUARY +1.0%p

  15. Slide 15: Commerce & Ventures | Dynamic and profitable growth in Digital Platform & Commerce

    COMMERCE & VENTURES | DYNAMIC AND PROFITABLE GROWTH - ESPECIALLY IN DIGITAL PLATFORM & COMMERCE PORTFOLIO External Revenues [in EUR m] +49% +27% 50 97 76 33 Q1 2023 Q1 2024 Q1 2023 Q1 2024 Continuous positive revenue development primarily driven by We outperformed growing online beauty market in Q1

  16. Slide 16: Dating & Video | Focusing Livebox on owned & operated apps has paid off

    DATING & VIDEO | FOCUSING LIVEBOX ON OUR OWNED & OPERATED APPS HAS PAID OFF RIGHT FROM THE START VIDEO REVENUES BY QUARTER [in EUR m] 53 50 4 • We are continuously advancing our 10 Livestreaming product with innovations like Streamer Subscriptions • After two difficult years, we saw a significant +8

  17. Slide 17: Outlook

    To be updated by IR 04 Outlook ©©ProSieben Seven.One/ Benjamin Kis / Willi Weber

  18. Slide 18: We confirm our financial outlook for full year 2024

    WE CONFIRM OUR FINANCIAL OUTLOOK FOR FULL YEAR 2024 FY 2023 FY 2024 TARGET COMMENT • At mid-point of target range, Group expects Entertainment EUR 3,852m Advertising DACH revenues to grow by around +2% (adjusted for Group ~EUR 3.95bn • Entertainment Advertising DACH TV Core expected to be currency r

  19. Slide 19: Appendix

    Appendix © ProSieben / Sven Doornkaat

  20. Slide 20: Group P&L

    GROUP P&L [in EUR m] Q1 2024 Q1 2023 YoY Revenues 867 816 +6% Adjusted EBITDA 72 53 +35% Reconciling items -7 -16 -56% EBITDA 65 38 +73% Depreciation, amortization and impairments -47 -52 -9% Thereof PPA + Goodwill -6 -8 -19% Operating result (EBIT) 18 -14 n/a Financial result -11 -17 -38% Thereof i

  21. Slide 21: Group and segment revenue breakdown

    GROUP AND SEGMENT REVENUE BREAKDOWN Entertainment Commerce & Ventures Dating & Video Total Group External revenues [in EUR m] Q1 2024 Q1 2023 Q1 2024 Q1 2023 Q1 2024 Q1 2023 Q1 2024 Q1 2023 Advertising revenues 451 432 28 27 480 459 DACH 393 376 28 27 421 403 Rest of the world 59 56 59 56 Distributi

  22. Slide 22: Operational KPIs

    OPERATIONAL KPIS Q2 2022 Q3 2022 Q4 2022 FY 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 FY 2023 Q1 2024 Linear TV Audience Share A 20-591) 21.1% 21.5% 20.1% 20.9% 19.9% 21.6% 20.7% 21.6% 20.9% 20.1% Joyn (DE+AT)2) Monthly Video Users3) 4.07m 3.62m 4.84m 4.15m 4.60m 4.51m 4.19m 6.31m 4.90m 6.54m Video Viewt

  23. Slide 23: Disclaimer

    DISCLAIMER This presentation contains "forward-looking statements" regarding ProSiebenSat.1 Media SE ("ProSiebenSat.1") or ProSiebenSat.1 Group, including opinions, estimates and projections regarding ProSiebenSat.1's or ProSiebenSat.1 Group's financial position, business strategy, plans and objecti

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Prosieben Sat 1 Media — Q1 2024 Earnings Presentation on 6ix