Slide 1: Annual Results Presentation
Annual Results Presentation Full Year Ended 31st December 2022 30 March 2023 ebiquity
Slide 2: Executive Summary
EXECUTIVE SUMMARY Good progress against strategic goals; positive momentum enhanced by targeted acquisitions » Continued positive momentum from 2021 » Strong revenue growth of 20%, including 9% organically » Operating profit and margin almost doubled » Successful integration of newly acquired compan
Slide 3: Financial Overview
Financial Overview ebiquity
Slide 4: Financial Overview
4 FINANCIAL OVERVIEW Strong revenue and adjusted profit growth - in line with expectations Income Statement So Son Revenue 76.0 63.1 12.9 20% Operating Expenses (59.5) (50.8) (8.7) 17% Adjusted Operating Profit 93 47 4.6 98% Operating Margin 12% 7% == 5 pp Finance Costs (1.3) (0.6) (0.7) 106% Adjust
Slide 5: Financial Review: Net assets growth reflects acquisitions
5 FINANCIAL REVIEW Net assets growth reflects acquisitions » Goodwill increased due to acquisitions in period » Net working capital of £9.4m, up from £3.4m due to phasing of project billing and transitional integration effects » Debtor days increased to 67 days from 61 days (2021) reflecting higher
Slide 6: Financial Review: Cash Flow
FINANCIAL REVIEW Cash Flow » Cash inflow from operations of £3.8m (2021: inflow of £11.8m) » Net working capital outflow of £6.0m (2021: inflow of £4.5m) >» Investing activities include: £17.5m on acquisitions of Forde and Semple, MMi and Media Path » Financing activities include: o £14.4m net proce
Slide 7: Financial Review: Adjusted Cash Flow
FINANCIAL REVIEW Adjusted Cash Flow - conversion ratio of 67% 7 Adjusted Cash from Operations December 2022 December 2021 Statutory Cash generated from operations 3.8 11.8 Highlighted Items -cash items 25 1.0 Highlighted Items - working capital movement (0.11) 04 Adjusted cash generated from operati
Slide 8: Financial Review: Group net debt summary
FINANCIAL REVIEW Group net debt summary Bank facility increased in 2022 to £30 million until March 2025, renewable for further 2 years >» Interest cover at > 4.0 » Adjusted leverage < 2.5 » Adjusted deferred consideration leverage < 3.5 Covenants applying since June 2022: December December Liguiighi
Slide 9: Revenue by Segment
Revenue by Segment 2022 v 2021 35.0 30.0 25.0 Revenue £m 20.0 15.0 10.0 5.0 0.0 UK & Ireland Continental Europe North America APAC 2022 2021
Slide 10: Revenue by service line
Revenue by service line 60 50 40 Revenue £m 30 20 10 0 Media Media Contract Marketing Tech Advisory Performance Management Compliance Effectiveness 2022 2021
Slide 11: Segmental Adjusted Operating Profit
Segmental Adjusted Operating Profit 2022 v 2021 8.0 7.0 6.0 Adjusted Operating Profit £m 5.0 4.0 3.0 2.0 1.0 0.0 UK & Ireland Continental Europe North America APAC (1.0) 2022 2021
Slide 12: Integration and contribution of acquisitions
Integration and contribution of acquisitions ebiquity
Slide 13: Integration of Acquisitions: North America
INTEGRATION OF ACQUISITIONS 7 Strong progress and contribution in North America al >» Very positive impact of acquisitions:- Media Management Inc in the US and Forde & Semple in Canada » Revenue growth of +138% driven by acquisitions and 73% organic growth Client roster almost doubled Year One cost
Slide 14: Integration of Acquisitions: North America clients
INTEGRATION OF ACQUISITIONS 7 Strong progress and contribution in North America al ED HYUNDAI Number of clients buying 2 or more products +85% year on year Googl alobvie Broader service offering increasing competitive advantage leading to new business and expanded client relationships Uber — Walmart
Slide 15: Integration of Acquisitions: MediaPath
INTEGRATION OF ACQUISITIONS 7 MediaPath Network AB a » Aglobally distributed media audit specialist with similar services to Ebiquity » Susanne Elias (Founder) joined Executive Leadership Team as Chief Delivery Officer to drive change of Ebiquity service delivery » GMP365 - a unique technology platf
Slide 16: Progress against strategy
Progress against strategy ebiquity
Slide 17: Progress Against Strategy: Purpose and strategy driving value
PROGRESS AGAINST STRATEGY ))) Purpose and strategy driving value We exist to help brand owners increase returns from their media investments and so improve business performance Key Strategic Objectives » Increase revenue from digital services by developing productised data solutions > Inerewe cpsere
Slide 18: Media Market Context
MEDIA MARKET CONTEXT ))) A highly dynamic market with increasing complexity » Global advertising market remained more resilient than many anticipated against the backdrop of macro- economic challenges » Challenging market in China owing to the Zero-Covid policy » Reduced agency selection activity fo
Slide 19: Operating Metrics
OPERATING METRICS Progression against key operating metrics 19 # clients buying 2+ Service Lines # clients buying 1 or more products from the new digital solutions portfolio Volume of digital advertising analysed on the platform — impressions # countries served with the new digital solutions portfol
Slide 20: Product Progress
PRODUCT PROGRESS ))) Digital Media Solutions has transformed our digital capabilities » Revenue growth of 76% and maintaining strong profit margin » Seven productised digital solutions in market, centred on Digital Governance programme >» Positive progress against operational KPls o 55 clients now b
Slide 21: Clients
CLIENTS Strong progress against client development plans »») Now working with 75 of the world's top 100 advertisers (Source:- ComVergence) Breadth of national advertisers — 600 clients 97 clients buying 2 or Service Lines up, +28% year on year Global agency selection mandates from major advertisers
Slide 22: Operational Efficiency
OPERATIONAL EFFICIENCY ))) Creating a more efficient business » Operating margin improved 5pp to 12.0% » Production costs reduced by 4% » Growth of higher margin Digital Media Solutions improving revenue mix » Scaling in the US enhancing economies of scale » Cost synergies from acquisitions on track
Slide 23: Progress Against Strategy: Geographic and Service Line highlights
PROGRESS AGAINST STRATEGY ))) Geographic and Service Line highlights » Improved scale and visibility in North America; greater penetration of large US corporates; opportunity to develop international business from the US » Asia Pacific continues good organic revenue performance of +18%; China +11% d
Slide 24: Looking Forward: Outlook
LOOKING FORWARD Outlook » 2023 has started on track - Pipeline visibility is good - Strategy on plan including progress on delivering synergy benefits to our three year targets - Macro driven inflationary cost pressures to be managed - Remain confident on delivering medium term margin growth - The c
Slide 25: Ebiquity is the world leader in media investment analysis
Ebiquity is the world leader in media investment analysis We harness the power of data to provide independent, fact-based advice, enabling brand owners to perfect media investment decisions and improve business outcomes. We are a data-driven solutions company helping brand O}s Ebiquity is able to pr