Sto SE & Co. KGaA (0G5B) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Christian Schmalzel. Please go ahead. Dear ladies and gentlemen, dear analysts, welcome back, as we've lost spoken only one and a half months ago, to our Q1 2025 call. As has been common practice for many quarters now, I would like to start our presentation with an overview of our key figures, followed by important strategic topics we saw in Q1. Henning will then guide you through the financials for the first quarter. Afterwards, we will be happy to answer any questions you may have. On the main KPI for the quarter, total revenues were up by 5% reported or by 3.8% on an organic basis. from 453 to 475 million euro. The most important message here is once again that we outperformed the advertising market as a whole in our core business and confirmed or exceeded the long-term trend with the growth figures for digital out-of-home and programmatic digital out-of-home. This was achieved against the backdrop of a generally rather moderate overall economic environment and a lot of uncertainty in the market. As Henning explained in the prelims and as we will see for Q1, we have real operating leverage in our core out-of-home business. This manifests in EBITDA growing faster than revenue, EBIT growing almost twice as fast as EBITDA, and net income growing three times as fast as EBITDA or six times compared to revenue growth. In total, adjusted EBITDA was up from €108 million to €117 million or 8%. EBIT adjusted improved from €35 million to €40 million or 15%. Net income adjusted increased twice as strong compared to EBIT adjusted from €12 million to €16 million or 30%. In contrast to these developments, free cash flow adjusted followed the typical seasonality, espec...