Slide 1: RTL Group Full-year results 2022
16 March 2023 RTL Group Full-year results 2022
Slide 2: Agenda
Agenda 01 02 03 04 Highlights Financials Operations Strategy & Outlook RTL Group Full-year results 2022 2
Slide 3: Highlights
01 Highlights 3
Slide 4: Highlights
Highlights ꟷ Strong set of financial results despite an unprecedented number of external challenges ꟷ Streaming: paying subscribers +44% to 5.5 million; well on course to reach 2026 targets ꟷ Fremantle: on track to becoming a €3 billion company by 2025 ꟷ Continued significant investments in content,
Slide 5: Financials
02 Financials 5
Slide 6: Revenue exceeding €7 billion for the first time
Revenue exceeding €7 billion for the first time in € million Adjusted EBITA Organic +1.6% before streaming 1,318 1,316 growth1 Significantly start-up losses1 impacted by capital gains, primarily SpotX2 +8.8% -6.0% Group Adjusted Group revenue 7,224 EBITA1 1,152 profit 1,454 6,637 1,083 766 2021 2022
Slide 7: Organic growth despite challenging ad markets since Q1/2022
Organic growth despite challenging ad markets since Q1/2022 Organic in € million growth +1.6% Group revenue +20% +9% 7,224 6,637 6,017 +13% +2% +7% +11% +45% +6% +23% +19% 2,168 2,217 1,964 1,562 1,610 1,714 1,730 1,466 1,404 1,401 1,455 1,186 Q1 2020 Q1 2021 Q1 2022 Q2 2020 Q2 2021 Q2 2022 Q3 2020
Slide 8: Adjusted EBITA before streaming start-up losses on prior year's record level
Adjusted EBITA before streaming start-up losses on prior year‘s record level in € million Adjusted EBITA 1,078 1,148 1,144 1,167 1,205 1,248 1,171 1,156 853 1,152 1,083 Streaming start-up losses 4 55 166 233 1,318 1,316 Adjusted EBITA 1,148 1,144 1,167 1,205 1,248 1,171 1,160 1,078 before streaming
Slide 9: High Group profit in 2022; 2021 benefitted from significant gains on disposals
High Group profit in 2022; 2021 benefitted from significant gains on disposals in € million Full year to Dec 2022 Full year to Dec 2021 Per cent change Adjusted EBITA 1,083 1,152 -6.0% Significant special items (44) (61) EBITA 1,039 1,091 -4.8% Impairment of goodwill of subsidiaries - - Amortisation
Slide 10: Operating cash conversion impacted by investments in Fremantle and streaming
Operating cash conversion impacted by investments in Fremantle and streaming in € million Full year to Dec 2022 Full year to Dec 2021 Per cent change Net cash from operating activities 463 932 -50% Add: Income taxes paid 293 437 Add: Transaction-related costs 9 72 Less: Acquisitions of and proceeds
Slide 11: Proposal in line with dividend policy
Proposal in line with dividend policy in € million Full year to Dec 2022 Profit for the year attributable to RTL Group shareholders 673 Dividend policy adjustments 13 Adjusted profit for the year attributable to RTL Group shareholders 660 9.5% from ordinary activities 552 from cash capital gains (fr
Slide 12: Operations
03 Operations 12
Slide 13: RTL Deutschland: Audience share gains and strong growth of RTL+
RTL Deutschland: Audience share gains and strong growth of RTL+ Key financials Family of channels Highlights in € million Audience shares, in % 14 to 59, 2022 4.016 million paying subscribers 17% 26.8% at 31 Dec 2022: +48% yoy Margin 62 originals in 2022 +14% 9.1 2,766 Others Vox ranked 3rd among al
Slide 14: Groupe M6: Record prime time performance and continued high profitability
Groupe M6: Record prime time performance and continued high profitability Key financials Family of channels Highlights in € million Audience shares, in % Women < 50 responsible for purchases, 2022 22% 22.3% Free-to-air channels: best audience share Margin performance during primetime ever -2% 1,390
Slide 15: RTL Nederland: Operational and financial record results
RTL Nederland: Operational and financial record results Key financials Family of channels Highlights in € million Audience shares, in % Adults 25 to 54, prime time, 2022 1.221 million paying subscribers 25% 34.7% at 31 Dec 2022: +12% yoy Margin +11% Others 636 16.3 22.2 575 +50% 161 Market Leader 12
Slide 16: Fremantle: On track to becoming a €3 billion company
Fremantle: On track to becoming a €3 billion company Key financials Highlights in € million Drama & Film Entertainment 7% Award: Nomination: Awards: Organic Margin growth +7.8% +22% 2,347 Bones and All (2022) America‘s Got Talent (2022) +15% Award: Documentaries 1,926 162 Award: 141 Heartbreak High
Slide 17: Strategy & Outlook
ee * d . ri 4 ; A bores strategy & Outlook
Slide 18: Strategy framework unchanged
Strategy framework unchanged Alliances & Core Growth partnerships Portfolio transformation Creativity & Communications & People Regulation Entrepreneurship Marketing Enabler RTL Group Full-year results 2022 18
Slide 19: Strategy update – Alternative path to scale
Strategy update – Alternative path to scale Initial consolidation targets only partially actionable Need to scale, alternative paths defined Main vehicle/partner Large consolidation moves blocked by regulators 01 National advertising sales and 3rd party sales representation 02 International advertis
Slide 20: Strategy update – Core
Strategy update – Core RTL Deutschland: Reorganisation of publishing business We focus on core …and make significant brands and titles… …reduce costs… investments Proportion of sold copies per year (in %) Investments in € million ꟷ Cost reductions at G+J of €70m until 2025 primarily Stern+ 30 in cor
Slide 21: Strategy update – Growth
Strategy update – Growth Build national streaming champions Targets by 2026 +44% Paying subscribers in million 5.49 1.22 10m €1bn 3.80 paying streaming 1.09 0.90 Videoland subscribers revenue 0.65 4.02 RTL+ DE 2.71 0.78 RTL+ HU 0.25 Key figures in € million 2021 2022 ~ €600m Profitability content Ad
Slide 22: Strategy update – Growth
Strategy update – Growth Expand global content business Home for top creatives Entertainment Drama & film Documentaries ― Remain leading ― Invest in founder-led ― Become leading producer & distributor scripted labels producer of quality of high-end ― Being the best choice entertainment shows documen
Slide 23: Outlook 2023
Outlook 2023 2022e 2022 2023e €7.3bn to €7.3bn to Revenue €7.2bn €7.5bn €7.4bn €1.05bn to €1.0bn to Adjusted EBITA €1.08bn €1.15bn €1.05bn Streaming start-up Just below ~€0.25bn €0.23bn losses €0.2bn Adjusted EBITA before €1.3bn to €1.2bn to streaming start-up €1.3bn €1.4bn €1.25bn losses 23
Slide 24: #RTLresults
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Slide 25: Financial calendar 2023
Financial calendar 2023 January RTL Group Financial Results 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 16 March 2023 February at 08:00 CET 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Full-Year Results: January to December 2022 M
Slide 26: Definitions
Definitions Alternative performance measure Explanation Adjusted EBITA represents a recurring operating result and excludes significant special items. RTL Group management has established an ‘Adjusted EBITA’ that neutralises the impacts of structural distortions for the sake of transparency. Based o
Slide 27: Definitions
Definitions Alternative performance measure Explanation In accordance with RTL Group’s strategy, the company continued to invest heavily in its streaming services, RTL+ in Germany and Hungary and Videoland in the Netherlands, all of which have seen a rapid increase in the number of paying subscriber
Slide 28: Definitions
Definitions Alternative performance measure Explanation Operating cash conversion rate Operating cash conversion rate means operating free cash flow divided by EBITA. The net cash/(debt) is the gross balance sheet financial debt adjusted for ‘Cash and cash equivalents’; current deposits with Net cas
Slide 29: Disclaimer
Disclaimer This presentation is not an offer or solicitation of an offer to buy or sell securities. It is furnished to you solely for your information and use at this meeting. It contains summary information only and does not purport to be comprehensive or complete, and it is not intended to be (and