Slide 1: RTL Group Full-year results 2023
14 March 2024 RTL Group Full-year results 2023
Slide 2: Agenda
Agenda 01 02 03 04 Highlights Financials Operations Strategy & Outlook RTL Group Full-year results 2023 2
Slide 3: Highlights
01 Highlights 3
Slide 4: Highlights
Highlights ꟷ High operating profits in H2/2023 despite weak advertising markets and significant streaming start-up losses ꟷ Dynamic growth in streaming subscribers ꟷ Strong audience performance in Germany with RTL and Vox as no. 1 & no. 2 commercial channels ꟷ Further significant investments in Frem
Slide 5: Financials
02 Financials 5
Slide 6: FY 2023 results in line with outlook
FY 2023 results in line with outlook in € million Pro- Continuing forma operations Full year to Outlook Full year to Key financials Dec 2023 2023 Dec 2023 Revenue 6,854 ~€6.9bn 6,234 Adjusted EBITA 927 ~€900m 782 thereof streaming start-up losses 179 ~€200m 176 Full year to Full year to Streaming KP
Slide 7: RTL Group is transforming its revenue streams
31.9% 38.0% Content FY TV advertising RTL Group is 7.7% Selling goods and 2023 2021: 46.1% transforming its merchandise and providing services revenue streams 5.1% 6.0% RTL Group revenue split Other rights Radio, print and exploitation 4.5% streaming other advertising revenue1 5.3% – various revenue
Slide 8: Key financials
Key financials in € million Organic growth1 -4.1% Group -5.4% Adjusted thereof Total Group revenue EBITA1 H2 performance profit 6,589 -15.2% 6,234 922 766 Discontinued 782 124 operations 598 +18.7% 602 115 507 Continuing 642 operations 483 FY 2022 FY 2023 FY 2022 FY 2023 H2 2022 H2 2023 FY 2022 FY 2
Slide 9: Group profit
Group profit in € million Full year to Dec 2023 Full year to Dec 2022 Adjusted EBITA 782 922 Significant special items (125) (42) EBITA 657 880 Impairment of goodwill and amortisation and impairment of fair value adjustments on acquisitions (43) (46) of subsidiaries Impairment and reversals of inves
Slide 10: Cash flow
Cash flow in € million 2023 2022 Net cash from/(used in) operating activities 537 463 -thereof discontinued operations 77 140 Operating free cash flow 523 565 -thereof discontinued operations 74 136 Income tax paid (162) (293) Acquisitions/ Disposals of subsidiaries, at-equity investments and other
Slide 11: Proposal in line with dividend policy
Proposal in line with dividend policy in € million Full year to Dec 2023 Profit for the year attributable to RTL Group shareholders 467 7.2% Dividend policy adjustments 26 Adjusted profit for the year attributable to RTL Group shareholders 493 2 Dividend, in € per share 2.75 Dividend, absolute amoun
Slide 12: Operations
03 Operations 12
Slide 13: RTL Deutschland
RTL Deutschland Key financials Family of channels Highlights in € million Audience shares, in % 14 to 59, 2023 4.941 million paying subscribers 12% 27.4% at 31 Dec 2023: +23% yoy Margin 56 originals in 2023 -5% 9.4 2,766 25.0 RTL and Vox are the no. 1 and no. 2 commercial 6.9 Others channels in Germ
Slide 14: Groupe M6
Groupe M6 Key financials Family of channels Highlights in € million Audience shares, in % Women < 50 responsible for purchases, 2023 24% 21.9% DTT license for main channel M6 Margin renewed for the next 10 years -3% 1,357 13.5 1,316 Others 31.9 8.4 +2% 311 Attractive sports rights to strengthen 304
Slide 15: Fremantle
Fremantle Key financials Highlights in € million Organic 6% Enter- Documen- growth -4.9% Margin tainment taries -3% 2,347 2,266 In total, Fremantle -14% Got Talent Spain JFK: One Day in America 162 won Drama & 139 145 awards Film in 2023 2022 2023 2022 2023 2023 Poor Things Priscilla C'è ancora doma
Slide 16: Strategy & Outlook
04 Strategy & Outlook 16
Slide 17: Strategy update – Consolidation
Strategy update – Consolidation Value creation at RTL Nederland reflected + strategic partnership in attractive deal terms with DPG Media1 5-year development of key figures Deal terms Technical services Revenue Adjusted EBITA (4 years) in € million in € million 636 161 ꟷ €1.1bn cash Streaming tech 6
Slide 18: Strategy framework unchanged
Strategy framework unchanged Alliances & Core Growth partnerships Portfolio transformation Creativity & Communications & People Regulation Entrepreneurship Marketing Enabler RTL Group Full-year results 2023 18
Slide 19: Strategy update – Core
Strategy update – Core Highly attractive & successful sports portfolio for RTL Group’s broadcasters RTL Deutschland Groupe M6 RTL Hungary ― Uefa Euro 2024 sub-licenses ― Fifa World Cup 2026 & 2030 ― Uefa Champions League ― Selective from Deutsche Telekom for main package from 2024-2027 12 matches ―
Slide 20: Strategy update – Core
Strategy update – Core RTL+ and RTL linear viewing go hand in hand… …providing RTL with a unique competitive edge Total viewing of selected programmes 01 Broadcasting and streaming operate under from RTL Deutschland one established brand: RTL & RTL+ in % of all hours watched RTL+ TV 02 Successful br
Slide 21: Strategy update – Growth
Strategy update – Growth New streaming service M6+ New targets by 2026 M6+ value Streaming targets for RTL+ in Germany and proposition Hungary and M6+ in France Mid-May 2024 on all screens; new design & brand Launch Product Primarily financed by advertising (AVOD), ~9m ~€750m complemented by a premi
Slide 22: Strategy update – Growth
Strategy update – Growth Expand global content business Revenue development Acquisitions in € billion Selected productions +14% CAGR 2.3 2.3 European production group focusing on scripted & 1.9 non-scripted productions in Death in Paradise Scènes de ménages 1.5 France, Italy & UK (for BBC One) (for
Slide 23: Strategy update – Growth
Strategy update – Growth RTL Deutschland / Fremantle Fremantle >100 Unter uns Christmas special: America‘s Got Talent & Britain‘s Got Talent: AI-generated dubbing & AI-generated content/storyline, virtual AI use case backgrounds & narrator voice subtitling of social media clips applications across F
Slide 24: Strategy update – Alliances & partnerships
Strategy update – Alliances & partnerships Content Ad tech Access to sports & fiction content Access to entire ad-tech value chain Rationale & terms Rationale & terms ꟷ Deliver greater value to both RTL and Sky viewers; ꟷ Technology partnership will bundle the services of ad-tech next major step for
Slide 25: Outlook 2024
Outlook 2024 in € million Revenue 6,854 6,234 ~€6.6bn 927 Adjusted EBITA 782 ~750 (+/-50) -145 ~-25 sports ~-65 ~+60 2023 RTL 2023 Continued Non-recurring Streaming and Improved 2024e Pro-forma Nederland items sports costs operations thereof streaming start-up 179 176 ~200 losses 25
Slide 26: #RTLresults
14 March 2024 RTLresults 4 |
Slide 27: Financial calendar 2024
Financial calendar 2024 January RTL Group Financial Results 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 14 March 2024 February at 08:00 CET 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 Full-Year Results: January to December 202
Slide 28: Definitions
Definitions Alternative performance measure Explanation Adjusted EBITA represents a recurring operating result and excludes significant special items. RTL Group management has established an ‘Adjusted EBITA’ that neutralises the impacts of structural distortions for the sake of transparency. Based o
Slide 29: Definitions
Definitions Alternative performance measure Explanation In accordance with RTL Group’s strategy, the company continued to invest heavily in its streaming services, RTL+ in Germany and Hungary and 6play in France (to be rebranded M6+ in 2024), all of which have seen a rapid increase in the number of
Slide 30: Definitions
Definitions Alternative performance measure Explanation Operating cash conversion rate Operating cash conversion rate means operating free cash flow divided by EBITA. The net cash/(debt) is the gross balance sheet financial debt adjusted for ‘Cash and cash equivalents’; current deposits with shareho
Slide 31: Disclaimer
Disclaimer This presentation is not an offer or solicitation of an offer to buy or sell securities. It is furnished to you solely for your information and use at this meeting. It contains summary information only and does not purport to be comprehensive or complete, and it is not intended to be (and