Reworld Media SA · EURONEXT:ALREW
Reworld Media SA — FY2021 Earnings Presentation
28 slides from Reworld Media SA's earnings presentation, Mar 24, 2022
Slide 1: Annual Results 2021
ANNUAL RESULTS 2021 24 March 2022 CONTENT ● BRANDS ● TECHNOLOGIES
Slide 2: Preliminary Notice
PRELIMINARY NOTICE The information contained in this document, particularly that concerning the future performance objectives of Reworld Media Group, are forward-looking statements and subject to certain risks and uncertainties. Any references to past performance of Reworld Media Group should not be
Slide 3: Contents
CONTENTS 2021 ANNUAL RESULTS INTRODUCTION BTOC OPERATIONS BTOB OPERATIONS ANNUAL ACCOUNTS OUTLOOK CONTENT ● BRANDS ● TECHNOLOGIES
Slide 4: Introduction
2021 ANNUAL RESULTS INTRODUCTION 4
Slide 5: 2021: Record Financial Performance
2021: RECORD FINANCIAL PERFORMANCE REVENUE: €469.8 M EBITDA: €66.8 M NET INCOME: €42.2 M +11% 25% +56% +4.1pts x 4.7 9.0% vs. 2020 International vs. 2020 14.2% margin vs. 2020 margin CASH: €122.9 M SHARE PRICE HEADCOUNT €28.6 M €30.6 M EURONEXT €360 M 1,052 11 countries in net debt Free cash flow GR
Slide 6: Regular and Sustained Growth
REGULAR AND SUSTAINED GROWTH Revenue (€M) EBITDA(1) (€M) Net income(2) (€M) +10.6% +55.5% x4.7 +€45.1 M €23.8 M +€33.1 M 469.8 424.7 66.8 42.2 294.4 42.9 29.9 9.1 (10.4) 2019 2020 2021 2019 2020 2021 2019 2020 2021 10.2% 10.1% 14.2% -3.5% 2.1% 9.0% +4.0 pts +12.5 pts EBITDA margin(1) (%) NI margin(2
Slide 7: Achieving Growth in Both Divisions
ACHIEVING GROWTH IN BOTH DIVISIONS BtoC (€M) BtoB (€M) +53.6% +1.7% +23.8% +€12.6 M +57.8% +€4.2 M +€40.9 M +€11.2 M 36.1 252.9 257.1 212.7 30.7 23.5 171.8 19.4 54.7% 54.1% 45.3% 45.9% 2020 2021 2020 2021 9.3% 14.0% 11.3% 14.4% 59.5% 54.7% 40.5% 45.3% +4.7 pts +3.1 pts 2020 2021 2020 2021 EBITDA mar
Slide 8: Affinity Content and Strong Brands as the Business Model's Foundation
AFFINITY CONTENT AND STRONG BRANDS AS THE BUSINESS MODEL’S FOUNDATION FASHION, BEAUTY, WOMEN AUTO, SPORTS 3.2 million print readers 2.2 million print readers 10.4 million unique visitors, +40% 8.4 million unique visitors, +57% 2.2 million followers 6.3 million followers FOOD, HEALTH, WELL-BEING 62 B
Slide 9: 6th Ranked Digital Media Group in France
6TH RANKED DIGITAL MEDIA GROUP IN FRANCE Ranking of media groups In millions of monthly unique visitors €25.4 million (+17%) unique visitors / month(1) 31.5 million Followers on social media(2) > 6 French / 10 Reached by our brands Nearly 2 billion advertising spaces sold each month - 10 20 30 40 50
Slide 10: BtoC Operations
2021 ANNUAL RESULTS BTOC OPERATIONS 10
Slide 11: Leader in Thematic Media in France
BTOC OPERATIONS BtoC BtoB 62 10 LEADER IN THEMATIC Proprietary brands SVOD thematic channels MEDIA IN FRANCE 30 million Magazines, Paywall, SVOD, publishing, etc. Print and digital readers(1) > 1.8 million Proprietary content(4) i.e. 6 French people in 10/month Capitalising on our brands and our aud
Slide 12: Continued Enrichment & Diversification of Our BtoC Offer
CONTINUED ENRICHMENT & DIVERSIFICATION OF OUR BTOC OFFER BtoC BtoB +5 NEW BRANDS NEW MAG VERSIONS NEW SERVICES +3 NEW TV CHANNELS ++35 PUBLISHING PRODUCTS 12
Slide 13: Record-High Profitability for BtoC Operations
RECORD-HIGH PROFITABILITY FOR BTOC OPERATIONS BtoC BtoB Revenue (€M) EBITDA(1) (€M) Positive momentum in household consumption +€12.6 M 2% growth in BtoC sales +€4.2 M 36.1 BtoC sales by offer 252.9 257.1 23.5 Subscriptions Pay per use 47% of BtoC sales 53% of BtoC sales 4% growth Stable vs. 2020 20
Slide 14: BtoB Operations
2021 ANNUAL RESULTS BTOB OPERATIONS 14
Slide 15: A Major European Player in Adtech
BTOB OPERATIONS BtoC BtoB 25.4 million 31.5 million Unique visitors / month(1) Followers on social media(2) A MAJOR EUROPEAN Advertisers and publishers PLAYER IN ADTECH located in 180,000 Digital and print advertising, diversification 80 countries Affiliated web sites Putting our digital and adtech
Slide 16: Accelerated Digitalisation of the Communication Market
ACCELERATED DIGITALISATION OF THE COMMUNICATION MARKET BtoC BtoB Return to growth in 2021 (€bn) The digital advertising market has doubled since 2016 (€bn) CAGR(1) excluding 2020: -1% CAGR(1) excluding 2020: +16% +20% +1% +2% +1% +2% +13% +0% 8.2 33.3 33.8 +17% +10% 32.6 +20% 6.8 6.8 31.9 31.0 +11%
Slide 17: Activating New Growth Drivers
ACTIVATING NEW GROWTH DRIVERS BtoC BtoB LIVE SHOPPING SOCIAL MEDIA PODCASTS Partnerships with Production and monetisation platform A platform distributing native podcasts top-tier advertisers on the social media on a pay-per-use basis BUSINESS CONTENT MEDIA PLATFORMS NON-MEDIA New offer, creating tr
Slide 18: Historically-High Revenue and EBITDA Levels in BtoB Operations
HISTORICALLY-HIGH REVENUE AND EBITDA LEVELS IN BTOB OPERATIONS BtoC BtoB Revenue (€M) EBITDA(1) (€M) +€40.9 M +€11.2 M Rebound in advertising activity 212.7 30.7 24% growth in BtoB revenue 171.8 19.4 BtoB revenue by offer 2020 2021 Digital Other offers 11.3% 14.4% 85% of BtoB 15% of BtoB revenue rev
Slide 19: Annual Accounts
2021 ANNUAL RESULTS ANNUAL ACCOUNTS 19
Slide 20: Income Statement by Business Line
INCOME STATEMENT BY BUSINESS LINE €M 12/31/2021 12/31/2020 Change (M€) Change (%) BtoC Revenue 257.1 252.9 4.2 +2% BtoB Revenue 212.7 171.8 40.9 +24% Revenue 469.8 424.7 45.1 +11% BtoC EBITDA 36.1 23.5 12.6 +54% BtoC EBITDA margin 14.0% 9.3% +4.7 pts BtoB EBITDA 30.7 19.4 11.2 +58% BtoB EBITDA margi
Slide 21: Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT €M 12/31/2021 12/31/2020 Change (M€) Change (%) Revenue 469.8 424.7 45.1 +11% Operating charges (403.1) (381.8) (21.3) +6% (1) EBITDA 66.8 42.9 23.8 +56% Amortisation (4.0) (4.0) 0.0 -1% EBIT(1) 62.8 38.9 23.9 +61% Financial result (4.5) (6.8) 2.3 -34% Non-recurring ite
Slide 22: Simplified Consolidated Balance Sheet
SIMPLIFIED CONSOLIDATED BALANCE SHEET €M 12/31/2021 12/31/2020 Change (M€) Fixed assets 243.1 222.9 20.2 Deferred tax assets 5.7 8.7 (3.0) Current assets 138.2 131.8 6.4 Cash and cash equivalents 122.9 104.1 18.8 Assets 510.0 467.5 42.5 Equity 135.1 102.1 33.0 Minority interests 14.3 10.9 3.4 Provis
Slide 23: Cash Flow
CASH FLOW €M 12/31/2021 12/31/2020 EBITDA(1) 66.8 42.9 Change in working capital (10.2) 14.1 Operating cash flow 56.6 57.0 Tax paid (8.1) (0.1) Exceptional items paid (11.1) (29.1) Cash flow from operating activities 37.4 27.8 Cash flow from investing activities (6.7) (7.0) Free cash flow 30.6 20.9
Slide 24: Outlook
2021 ANNUAL RESULTS OUTLOOK 24
Slide 25: Growth Ambition
GROWTH AMBITION ORGANIC GROWTH EXTERNAL GROWTH Supporting the growth Ability to be selective of the digital market Enhancing Carry out significant product and service offers operations Being a price-maker Consolidation dynamic in an inflationary context on the market STRONG GROUP COMMITMENT TO CSR P
Slide 26: Q&A
2021 ANNUAL RESULTS Q&A 26
Slide 27: Contacts
CONTACTS 8 rue Barthélémy Danjou 92100 Boulogne Billancourt reworldmedia.com investisseurs@reworldmedia.com Follow us also on: Sponsor listing: Euroland Corporate Contact: Julia Bridger jbridger@elcorp.com Communication Contact: PCE - Ségolène de St Martin sdestmartin@p-c-e.fr CONTENT ● BRANDS ● TEC
Slide 28: Content, Brands, Technologies
CONTENT ● BRANDS ● TECHNOLOGIES