Slide 1: Time Out Group plc FY25 results and outlook
Time Out Group plc FY25 results and outlook
Slide 2: Unmatched city authority built over 55+ years
Timeline of the transformation from a UK print business to a multi-platform global brand Unmatched city authority built over 55+ years First Time Out NY Launch Print to Digital Monthly Monthly Media review Time Out kicks off of Media transition Media Media of strategy London global media digital com
Slide 3: FY25 Review & Outlook
FY25 Review & Outlook Platform built for global growth Market revenues grew +9% YoY, whilst Media declined –26% • Revenue £73.2m -7% YoY, Ebitda £7.1m, (FY24 £12.4m) Operational Highlights • 3 new Markets FY25, Barcelona, Bahrain, Osaka. 13 Markets open • Global monthly brand audience reach +55% to
Slide 4: Financial Review
Financial Review Markets revenues grew but with additional opex, Media revenue decline impacted Ebitda 12 months ended 30 June 2024 (£m) Group Markets Media +9% -26% -7% 76.0 78.7 73.2 33.1 35.9 42.8 42.8 46.7 26.4 26.6 Revenue 55.4 28.9 £m FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25
Slide 5: Media profitability is improving
Media profitability is improving Review of Strategy completed with clear action plan now delivering benefits £27m Revenue (FY24 £36m), Ebitda loss (£1.1m) FY24 £5.3m Ebitda profit Monthly brand reach continues to grow +50% to 225m(1) • Industry-wide AI-search impacting web traffic / programmatic rev
Slide 6: Markets rollout continues
Markets rollout continues Revenue grew +9% YoY to £47m driven by new space. £11m Ebitda (FY24 £12.0m) Total Consumer Spend1 of £147m +17% YOY 11 Markets open in FY25 • FY25 openings: Barcelona O&O, Bahrain and Osaka MA’s • FY26: Manhattan O&O & Budapest MA now open Abu Dhabi and Vancouver MA’s sched
Slide 7: Market: Signed Pipeline
Market: Signed Pipeline Today, 13 markets operational with 4 more contracted to open by FY28. Based on currently signed agreements SIGNED OWNED & FY28 MANAGEMENT OPERATED AGREEMENTS MARKETS FY26 RIYADH PRAGUE MANHATTAN FY25 BUDAPEST BARCELONA VANCOUVER FY24 BAHRAIN ABU DHABI OSAKA CAPE PORTO TOWN FY
Slide 8: Business Model: One Time Out
Business Model: One Time Out The best of the city, online and in real life CURATION OF THE BEST OF THE AUTHORITY ATTRACTS CITY PARTNERS 1 2 Unmatched Trusted editorial curation:expertise: brand The brand Since reputation 1968,built we’veover 55+ built a research showsOurthat audiences Time Out award
Slide 9: A Global Brand
A Global Brand High footfall locations in the cities with strong appeal to global advertisers Prague 9
Slide 10: Placing
Placing Additional £8m capital for operational improvements, working capital and growth capex Use of Proceeds (net of fees) • £3.6m growth capital for potential Markets and IT capex (new CRM platform, tech stack improvements) • £4m for working capital, including one-off restructuring costs which gen
Slide 11: Current trading and Outlook
Current trading and Outlook Executing the plan can ensure Group becomes self-funding before growth capex Markets: expectation for continued Ebitda improvement • 13 markets operational, with 4 more contracted to open by FY28. Smaller format in Manhattan now operational • Driving same-site revenue gro
Slide 12: Financial Statements
Financial Statements
Slide 13: P&L
P&L Year ended 30th June, 2024 2025 Change £m Market revenue(1) 42.8 46.7 +9% • Market Revenue up 9% YoY Media revenue 35.9 26.6 -26% Group revenue 78.7 73.2 (7)% • Media revenue down (26)% YoY Gross margin (% of net revenue) 82% 83% +100bps Market EBITDA 12.0 10.7 -11% • Market Adjusted EBITDA £11m
Slide 14: Cashflow
Cashflow Year ended 30th June 2024 2025 £m Cash generated from/ (used in) operations 12.6 (2.2) Interest paid (1.8) (2.9) Tax paid (1.1) (0.9) Net cash generated from/(used in) operating 9.7 (6.0) activities Purchase of property, plant and equipment (9.8) (1.4) Purchase of intangible assets (0.8) (3
Slide 15: Cash and Borrowings
Cash and Borrowings Year ended 30th June, 2024* 2025 £m Cash and cash 5.9 2.6 equivalents Borrowings (38.9) (46.9) Adjusted net debt (33.0) (44.3) IFRS 16 lease liabilities* (40.4) (42.0) Net debt (73.4) (86.3) 1) €35m loan with Crestline LLP repayable November 2026 Cash interest at Euribor plus 8.5
Slide 16: Balance Sheet
Balance Sheet £m 30 June 2024* 30 June 2025 Non-current assets Impairment charges of £35.1m have been recognised in relation to Intangibles assets – Goodwill 29.3 20.1 the current performance of the Chicago, Barcelona and Boston Intangible assets – Other 5.8 6.7 Markets, and Media business units in
Slide 17: MAR disclosures and disclaimers
MAR disclosures and disclaimers THIS PRESENTATION AND ITS CONTENTS ARE STRICTLY CONFIDENTIAL AND ARE NOT INTENDED FOR PUBLICATION, RELEASE OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR THE REPUB
Slide 18: MAR disclosures and disclaimers (continued)
MAR disclosures and disclaimers (continued) Certain industry and market data contained in this Presentation has come from official or third party sources. Third party industry publications, studies and surveys generally state that the data contained therein have been obtained from sources believed t
Slide 19: Thank you
Thank you ‘5 f