ProSiebenSat.1 Media SE · XETR:PSM

ProSiebenSat.1 Media — Q1 2023 Earnings Presentation

22 slides from ProSiebenSat.1 Media's earnings presentation, May 26, 2023

Slide 2: Summary, Financials, Operational Update, Outlook
© ProSieben / Willi Weber © ProSieben / Benjamin Kis © ProSieben / Richard Hübner © ProSieben / Guido Engels 01 02 03 04 Summary Financials Operational Outlook Update
Slide 4: Summary
SUMMARY Q1 2023 Group key financial performance indicators as expected and indicated below prior year – development clearly impacted by still demanding macroeconomic environment and net consolidation effects TV advertising revenues reflect consumer reluctance to spend and strong prior-year figures,
Slide 6: Q1 2023 key financial parameters below prior year
Q1 2023 KEY FINANCIAL PARAMETERS BELOW PRIOR REFLECTING STILL DIFFICULT ADVERTISING MARKET ENVIRONMENT AND NET CONSOLIDATION EFFECTS REVENUES, EARNINGS AND CASH FLOW KPIS [IN EUR M] Q1 Q1 COMMENTS 2023 20221) YoY • Group revenues down -13% on a reported basis and -8% on a portfolio- and currency Gro
Slide 7: DACH advertising revenues impacted by soft macroeconomic environment
DACH ADVERTISING REVENUES IMPACTED BY CONTINUING SOFT MACROECONOMIC ENVIRONMENT AND STRONG COMPARABLE FIGURES DUE TO PRIOR YEAR'S RECOVERY ENTERTAINMENT EXTERNAL REVENUES AND ADJ. EBITDA [IN EUR M] Q1 Q1 COMMENTS 2023 2022 YoY • Advertising revenues in German-speaking region decreased by -12%. Devel
Slide 8: Commerce & Ventures segment benefitting from recovery of consumer advice
COMMERCE & VENTURES SEGMENT BENEFITTING FROM RECOVERY OF CONSUMER ADVICE BUSINESS – FIGURES OF EXPERIENCE BUSINESS ADJUSTED RETROSPECTIVELY COMMERCE & VENTURES EXTERNAL REVENUES AND ADJ. EBITDA [IN EUR M] Q1 Q1 COMMENTS 2023 20221) YoY • Revenues of Commerce & Ventures segment improved in Q1 2023 by
Slide 9: Dating & Video performance affected by normalization of video usage
PERFORMANCE OF DATING & VIDEO BUSINESS CONTINUES TO BE AFFECTED BY NORMALIZATION OF VIDEO PLATFORM USAGE POST COVID-19 PANDEMIC DATING & VIDEO EXTERNAL REVENUES AND ADJ. EBITDA [IN EUR M] Q1 Q1 COMMENTS 2023 2022 YoY • With the normalization of the use of ParshipMeet Group's video platforms after Ex
Slide 10: Net financial debt reduced compared to prior year's first quarter
NET FINANCIAL DEBT REDUCED COMPARED TO END OF PRIOR YEAR’S FIRST QUARTER - FINANCIAL LEVERAGE ABOVE TARGET RANGE DUE TO ADJUSTED EBITDA DECLINE NET FINANCIAL DEBT IN EUR M DEBT MATURITY PROFILE IN EUR M -58 SSD2) 2016 SSD2) 2021 Term Loan RCF Option for extension Term Loan 1,200 & (undrawn) RCF 500
Slide 12: Entertainment: strong progress in digitalization of our business
ENTERTAINMENT | STRONG PROGRESS IN DIGITALIZATION OF OUR BUSINESS +30% Marketable Video Views of P7S1 content in Q1 2023 vs. PY New flagship series “INTIMATE” with best original format launch since “JERKS”, launch of first live event with top creator Elias Nerlich Release of first titles of NBC Univ
Slide 13: Commerce and Ventures: strong revenue performance in Q1 2023
COMMERCE AND VENTURES | STRONG REVENUE PERFORMANCE IN Q1 2023 DRIVEN BY VERIVOX & FLACONI CONSUMER ADVICE BEAUTY & LIFESTYLE • Despite challenging market • Stable energy market environment • flaconi with >30% revenue growth environment SevenAccelerator and allows for attractive new contract in Q1 20
Slide 14: Dating & Video: live video revenues have softened
DATING & VIDEO | LIVE VIDEO BUSINESS REVENUES HAVE SOFTENED AS COVID-19 PANDEMIC SUBSIDES - COST BASE ADJUSTED AS A RESULT EXTERNAL REVENUES OF VIDEO SEGMENT [IN EUR M] COMMENTS CAGR • In 2020 and 2021, COVID-19 stay-at- +13% home measures and habits provided significant tailwinds for live video str
Slide 15: Dating & Video: PMG follows a more integrated approach
DATING & VIDEO | PMG FOLLOWS A MORE INTEGRATED APPROACH WITH A NEW ORGANIZATIONAL STRUCTURE TO SET THE COMPANY UP FOR FUTURE GROWTH SIMPLIFIED Simplified processes and Experienced Management Board in place: ORGANIZATIONAL responsibilities due to Marc Schachtel (CEO) and Henning Rönneberg (CFO SETUP
Slide 17: We confirm our financial outlook for full year 2023
WE CONFIRM OUR FINANCIAL OUTLOOK FOR FULL YEAR 2023 FY 2022 FY 2023 TARGET Group EUR 4,163m ~EUR 4.10bn • At midpoint of target range, Group revenues are expected to slightly increase on a portfolio- and revenues (adjusted for currency (+/- EUR 150m) currency adjusted basis; midpoint also takes arou
Slide 19: Group P&L, prior year's figures revised retrospectively
GROUP P&L – PRIOR YEAR’S FIGURES REVISED RETROSPECTIVELY DUE TO ADJUSTED ACCOUNTING METHOD AT JOCHEN SCHWEIZER MYDAYS Q1 Q1 [in EUR m] 2023 20221) YoY Revenues 816 941 -13% Adjusted EBITDA 53 112 -52% Reconciling items -16 -1 >+100% EBITDA 38 111 -66% Depreciation, amortization and impairments -52 -
Slide 20: Group and segment revenue breakdown
GROUP AND SEGMENT REVENUE BREAKDOWN Entertainment Commerce & Ventures Dating & Video Total Group External revenues [in EUR m] Q1 2023 Q1 2022 Q1 2023 Q1 20221) Q1 2023 Q1 2022 Q1 2023 Q1 20221) Advertising revenues 432 483 27 36 459 519 DACH 376 427 27 36 403 462 Rest of the world 56 57 56 57 Distri
Slide 21: 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
Slide 22: Slide 22

ProSiebenSat.1 Media — Q1 2023 Earnings Presentation on 6ix

ProSiebenSat.1 Media — Q1 2023 Earnings Presentation

Slide 1: Results Presentation Q1 2023

Slide 2: Summary, Financials, Operational Update, Outlook

Slide 3: Summary

Slide 4: Summary

Slide 5: Financials

Slide 6: Q1 2023 key financial parameters below prior year

Slide 7: DACH advertising revenues impacted by soft macroeconomic environment

Slide 8: Commerce & Ventures segment benefitting from recovery of consumer advice

Slide 9: Dating & Video performance affected by normalization of video usage

Slide 10: Net financial debt reduced compared to prior year's first quarter

Slide 11: Operational Update

Slide 12: Entertainment: strong progress in digitalization of our business

Slide 13: Commerce and Ventures: strong revenue performance in Q1 2023

Slide 14: Dating & Video: live video revenues have softened

Slide 15: Dating & Video: PMG follows a more integrated approach

Slide 16: Outlook

Slide 17: We confirm our financial outlook for full year 2023

Slide 18: Appendix

Slide 19: Group P&L, prior year's figures revised retrospectively

Slide 20: Group and segment revenue breakdown

Slide 21: Disclaimer

Slide 22: Slide 22