Slide 1: 2024 Full Year Results
Enabling the capture and sharing of exceptional content. 2024 Full Year Results 30 April 2025 Capture. Share.
Slide 2: Agenda
Agenda ▪ Overview ▪ Financial review ▪ Market update ▪ Operational actions ▪ Summary ▪ Outlook 2 | Videndum plc
Slide 3: Overview
Overview ▪ In line with 16 December 2024 Trading Update. FY24 revenue of £284m (down 8% YoY) ▪ Break-even Adjusted operating profit, before one-off charges of £18m ▪ Operating cash flow up 45% to £17m ▪ Closing FY24 net debt of £133m at leverage of 5.2x ▪ Covenants reset for the remaining life of th
Slide 4: Financial review
Financial review 4 | Videndum plc
Slide 5: Revenue
Revenue Revenue from Continuing Operations (£m) Share of Revenue from Continuing Operations (%) YoY growth +14% (31)% (8)% H2 50% 46% 45% Group 443 H1 50% 54% 55% VCS 87 FY 22 FY 23 FY 24 307 YoY 284 VPS 138 52 Reported vs Normalised Decline (%) 60 +16% Reported (14)% 101 +8% 91 (10)% (15)% Normalis
Slide 6: Revenue bridge
Revenue Bridge of Revenue from Continuing Operations (£m) ▪ Challenging conditions in the ICC and broadcast markets (19) ▪ Continued low demand in cine following the FY 23 strikes (7) 3 (7) 8 ▪ Higher discounts offered to try to stimulate growth ▪ Adverse FX from a weakening USD 307 ▪ Benefitted fro
Slide 7: Gross Profit
Gross Profit Bridge of Gross Profit (£m) Gross Margin (%) Gross 38% 33% Margin (11) 5% One-off Charges (7) 9 (3) (13) 44% Gross 118 38% Profit 33% Gross Margin 93 FY 23 Lower Higher FX Other One-off FY 24 FY 22 FY 23 FY 24 volumes discounts Charges Lower revenue flows to gross profit; excluding one-
Slide 8: Operating Expenses
Operating Expenses Bridge of Operating Expenses (£m) Split of Operating Expenses (£m) % of 127 revenue 34% 38% 40% 10 112 One-off 106 5 5 Charges 11 11 D&A 1 49 1 35 39 Other 112 Operating 107 106 expenses 68 59 58 People costs FY 23 Salary Other FY 24 One-off FY 24 FY 22 FY 23 FY 24 inflation norma
Slide 9: Operating Profit
Operating Profit £m Revenue Operating Profit* FY 22 FY 23 FY 24 FY 22 FY 23 FY 24 Media Solutions 217 154 133 35 11 3 Production Solutions 138 101 91 31 13 7 Creative Solutions 87 52 60 17 1 3 Corporate Costs - - - (17) (12) (13) Before One-off Charges 443 307 284 66 13 0 Total One-off Charges - - -
Slide 10: Consolidated Statement of Profit or Loss
Consolidated Statement of Profit or Loss £m FY 23 FY 24 Revenue 307 284 ▪ Impairment of assets mainly relates to goodwill Cost of sales (193) (189) Gross profit 114 94 write downs Other income 1 1 Operating expenses (119) (192) ▪ Amimon previously treated as discontinued in FY Operating loss (5) (96
Slide 11: Cash Flow and Net Debt
Cash Flow and Net Debt £m FY 22 FY 23 FY 24 OP* (Before One-off Charges) 66 13 0 Bridge of Net Debt (£m) Depreciation & Amortisation+ 20 21 19 3.3x 5.2x Leverage‡ EBITDA 86 34 19 (133) Trade working capital+ (16) (1) 8 (129) (11) Non-trade working capital+ (2) (7) 2 18 (10) (32) Leases Capex (15) (1
Slide 12: Covenant Reset & Refinancing
Covenant Reset & Refinancing ▪ December 2024 amended covenant met, February 2025 and March 2025 waived ▪ £150m RCF covenants successfully reset in April 2025 through to the end of the facility in August 2026 ▪ New LTM EBITDA covenant for 2025 and minimum liquidity covenant introduced. Leverage and I
Slide 13: Market update
Market update 13 | Videndum plc
Slide 14: Videndum's portfolio addresses three key segments in the content creation market
Videndum’s portfolio addresses three key segments in the content creation market Independent Content Creator Cine and scripted TV Broadcast Products used by professional and high-end amateur Products used in the production and filming of Products used in production of non-scripted TV photographers /
Slide 15: Markets are returning to growth
Markets are returning to growth Independent Content Creator Cine and Scripted TV Broadcast Return to stable growth Return to growth Growth driven by NPD and next-gen prompters Key market drivers Key market drivers Key market drivers ▪ Demand for photo services and ▪ False dawn at the start of 2024 ▪
Slide 16: Videndum #1 positioning across product segments
Videndum #1 positioning across product segments Independent Content Creator Cine and scripted TV Broadcast Market Market Market Category Brand Awards Category Brand Awards Category Brand Awards position position position #1 #1 #1 Camera Wireless Camera supports supports Monitors #1 (small) #1 #1 Car
Slide 17: US Tariffs
US Tariffs ▪ Videndum is passing 100% of tariffs through in price increases ▪ Our products are nearly all number one in their market, and often by a wide margin ▪ Our competition is virtually all Chinese in origin, who are competitively disadvantaged by the tariffs on China ▪ No intention to change
Slide 18: Operational actions update
Operational actions update 18 | Videndum plc
Slide 19: Operating model enhancements
Driving our operational improvement programme forward Operating model enhancements Simplifying structure Reinstating pricing discipline Driving gross margin expansion Simplifying organisational structure by Reinstating pricing discipline through Driving gross margin expansion through merging from th
Slide 20: Headcount reduction progress
Headcount reduction progress Year End FTE Headcount Total 1,918 Discontinued 100 1,641 1,507 65 Direct 671 40 c.1,380 517 451 Non-direct 1,147 1,059 1,016 FY 22 FY 23 FY 24 FY25 20 | Videndum plc
Slide 21: Summary & Outlook
Summary & Outlook 21 | Videndum plc
Slide 22: Summary
Summary FY24 Challenging macroeconomic environment, recovery anticipated at H1 FY24 PERFORMANCE results failed to materialise. A shift to focusing on prioritising actions within our control. Full year results in line with pre-close trading update OPERATIONAL Actions substantially completed to genera
Slide 23: Outlook
Outlook While 2025 had a soft start, conditions have been improving month by month. We anticipate that H1 2025 revenue will decline compared to H1 2024 as we lap the Q1 2024 spike in the Cine and Scripted TV market post-strike, along with deep discounting that pulled sales forward from H2 2024. H2 2
Slide 24: Q&A
Q&A Dialling in from the UK: 0800 358 1035 Scan the QR code to dial in from all other locations Access code: 873023 Press *1 to ask a question Press *2 to withdraw your question Press *0 for operator assistance 24 | Videndum plc
Slide 25: Appendix
om | = Videndum jt a | Appendix 25 =| Videndum pic
Slide 26: Where we operate
Where we operate Manufacturing sites R&D sites ▪ Sites in 10 countries; sell into 100+ countries Procurement centre Distribution sites ▪ Well-invested manufacturing facilities in Italy, Costa Rica, US ▪ R&D centres in UK, Italy, US US Germany Japan ▪ Far East Procurement Centre in Shenzhen, China It
Slide 27: Our structure
Our structure Videndum plc is organised in three Divisions: ▪ Media Solutions ▪ Production Solutions ▪ Creative Solutions 2024 Financials* Headquarters in the UK Revenue Number of employees £283.6m 1,500 (2023: £306.9m) Group 2024 revenue split 21% Adjusted operating (loss)/profit* Number of countri
Slide 28: Loan covenants
Loan covenants Dec-24 Dec-24 Leverage calculation Interest cover calculation £m £m Reported Net Debt 133.0 Covenant EBITDA 25.8 Remove upfront loan fee 1.3 Depreciation (12.8) Covenant Net Debt 134.3 Covenant EBITA 13.0 Reported 12-month EBITDA* 5.8 Reported 12-month net finance expense* 6.8 Add bac
Slide 29: Product portfolio
Product portfolio Audio capture Distribution, rental Mobile power Supports & Stabilisers Rycote & services Anton/Bauer Avenger Camera Corps Gitzo Backgrounds The Camera Store Monitors Manfrotto Colorama SmallHD OConnor Savage IP Video Sachtler Superior Teradek Prompters Vinten Autocue Camera accesso
Slide 30: Important notice
Important notice Forward-looking statements This presentation contains forward-looking statements with respect to the financial condition, performance, position, strategy, results and plans of Videndum plc (the “Group”, “Videndum”, or the “Company”) based on Management’s current expectations or beli