Vocento, S.a. · BME:VOC
Vocento — Investor Presentation (2024)
26 slides from Vocento's investor presentation, Sep 24, 2024
Slide 1: Corporate presentation 2024
Corporate presentation 2024
Slide 2: Vocento is the leading multimedia company in Spain
Vocento is the leading multimedia company in Spain NEWSPAPERS (offline and online) REGIONALS ABC SPORTS SUPPLEMENTS ▪ El Correo ▪ El Comercio ▪ ABC ▪ Relevo ▪ XLSemanal ▪ La Verdad ▪ Hoy ▪ National ▪ MujerHoy ▪ El Diario Vasco ▪ La Rioja printing plant ▪ WomenNow ▪ El Norte de Castilla ▪ Regional pr
Slide 3: Our history
Our history What we have done 2006 – 2011 2018 - 2020 • Restructuring without • Strengthening Core changes to business Business: Programática. model Marketplace 1999 – 2006 • Investment in ABC • Strengthening of Gastro/ • Merger with Grupo circulation Agencies Prensa Española ABC • Closure of La 10
Slide 4: Origin of Vocento
Origin of Vocento €L Morte Castila SALAMANCAwiy leofoticias BURGOSconects HOY LAVERDAD SUR ABC @ReLevo Af sutrnoy XLSemanal huelva24
Slide 5: Our journalistic brands
Our journalistic brands 1 1 11 2 6 Nacional Sport Regional Magazines Local newspaper newspapers webs 5
Slide 6: Online newspapers
Online newspapers Average daily audience 4.9 2.7 Monthly audience 2.0 2.0 22.6 18.8 1.8 15.8 14.8 15.5 Page views 576 206 197 246 140 Source: GFK February 2024 News. Data: millions. 6
Slide 7: Offline newspapers
Offline newspapers Audience Ranking (thousand)1 1,800 Exclusive Vocento news readers1 802 467 158 Circulation Ranking (thousand)2 82% Exclusive 56 223 readers 52 36 19 Note 1: % exclusive Vocento news readers as a percentage of total audience Vocento news vs. El Mundo. La Razón. El Periódico. and La
Slide 8: Editorial essence
Editorial essence Employees 3.012 Journalists 1.222 And Vocento keeps innovating… 8
Slide 9: Increase in digital subscriptions
Increase in digital subscriptions Paying subscribers (thousand) CAGR +24.4% 138 114 50 ARPU 2023 +3% despite greater weight of 89 annual subscriptions (+13 p.p vs 2022) 40 27 88 75 Targets for 2026 maintained: 63 >250k digital subscriptions and digital margin > print 2021 2022 2023 Note: figures are
Slide 10: Editorial events
Editorial events Events/year +850 €36,3M Revenues 48,5% Del margen de contribución al EBITDA 10
Slide 11: Social Media - ABC's Milestones
Social Media- ABC´s Milestones Data February 2024 832 Thousand Fire in Valencia Followers Performance of February 4,1 million Displays New followers 73,7 thousand Likes +40 Thousand 6,8 thousand Comments % VS previous month +5% 11
Slide 12: Performance in Social Media
Performance in Social Media Followers Displays Engagement total/month total/month interactions total/month Including: Twitter (X), Instagram, TikTok, Youtube y Including: Twitter (X), Instagram y Youtube Including: Twitter (X), Instagram y Youtube y Twitch Twitch Charts evolution: January of 2022 to
Slide 13: Revenue growth with a higher weight for digital and diversification
Revenue growth with a higher weight for digital and diversification Revenue mix (%) Digital 22% 28% 29% 37% 42% 46% + Diversification 4% 8% 7% 12% 15% 17% Digital revenues & 17% diversification 20% 22% +14.4% 2% 25% 2% 2% 27% 28% 1% 1% 1% Offline business: 77% 70% 69% 62% Revenues in 57% 2023 -2.0%
Slide 14: Gastronomy: International player
Gastronomy: International player Revenues 14.3 million euros +18% vs 2022 Consultancy Gastronomy EBITDA 2.9 million euros +55% vs 2022 14
Slide 15: Agencies
Agencies: &c the brand that encompasses our group of specialist and complementary agencies Revenues 25.9 million euros +3% vs 2022 EBITDA 3.6 Agencias Agencies million euros +83% vs 2022 15
Slide 16: Classifieds: Marketplaces development
Classifieds: Marketplaces development Revenues 28 million euros +3% vs 2022 Classifieds EBITDA 6.5 Contact Center Interactiva million euros +30% vs 2022 16
Slide 17: Digital services: SMEs segment opportunity
Digital services: SMEs segment opportunity Revenues 3.5 million euros +248% vs 2022 EBITDA 1.4 million euros +800% vs 2022 17
Slide 18: Performance of "mix" EBITDA of Vocento
Performance of “mix” EBITDA of VOCENTO Weight in total EBITDA (€m) ex corp. centre 6% 15% 3% 15% 7% 115% 61% (17%) (4%) 2011 2023 Newspapers Audiovisual Classifieds Digital Services B2B y Qué! Agencies and Gastronomy 18
Slide 19: EBITDA performance Vocento 2011-23
EBITDA performance VOCENTO 2011-23 Data in millions of euros. Variations except 2011 and 2023 20111 16.6 Newspapers (15.3) Audiovisual 9.2 Classifieds and Digital Services 9.4 +17.9 Qué! and Sarenet (2.1) Gastronomy and Agencies 6.5 Corporate centre 10.2 20232 33.4 Note 1: including indemnities €-21
Slide 20: EBITDA performance Newspaper 2011-23
EBITDA performance Newspaper 2011-23 Data in millions of euros. Variations except 2011 and 2023 20111 42.4 Advertising2 (72.6) Cost savings and other income2 62.7 Relevo (6.3) (15.3) Margin on readers 10.5 Printing and distribution (9.6) 20233 27.1 Note 1: not including Qué! and including indemnitie
Slide 21: Net financial debt performance 2011-23
Net financial debt performance 2011-23 Data in millions of euros. Variations except 2011 and 2023 2011 138.7 Cash Flow1 (118.7) Investment in strategic assets 43.0 Dividends 14.9 (123.5) Others ‘one 25,7 26.6 offs’2 Sale of assets and real estate (89.2) 20233 15.1 Note 1: including compensation paym
Slide 22: Annexes
Annexes 22 22
Slide 23: Diversified businesses continue to increase their contribution to EBITDA
Diversified businesses continue to increase their contribution to EBITDA Weight in total EBITDA (€m) 16.3% 20.9% 32.3% ex corp. Revenues centre €71.7m 14.4 CAGR +33.3% 3.6 9.0 8.1 2.9 2.0 1.6 1.4 1.8 1.5 0.2 6.5 5.1 5.0 2021 2022 2023 Agencies Gastronomy Digital services Classifieds Note: data round
Slide 24: EBITDA maintained in recent years
EBITDA maintained in recent years Advertising revenues and EBITDA Data in €m 240.6 192.3 166.6 163.0 163.1 168.8 156.5 157.9 160.0 160.5 147.9 152.5 141.1 47.6 45.0 42.1 39.6 41.2 42.3 36.4 37.6 34.5 33.5 21.7 16.6 14.3 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Advertising rev
Slide 25: Cash generation sustained over time
Cash generation sustained over time Reduction of net financial debt over time Data in €m 142.9 149.3 138.7 125.9 108.8 66.4 56.2 43.0 45.7 46.6 8.6 14.8 21.0 12.9 32.5 8.9 15.1 (4.9) 2.0 4.3 27.2 25.2 21.6 1.7 4.5 1.7 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Ordinary cash flo
Slide 26: Slide 26