Sto SE & Co. KGaA (0G5B) Q3 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Dear analysts, thank you for participating in our early call on the publication of our Q3 and 9-month figures. As you know, we had planned a virtual CMD with focus on out-of-home and digital out-of-home for today. Immediately following this call, in the light of last week's announcement of the acquisition of RBL Media, we have decided to postpone this and do it in combination with our preliminary results or final results for 2024. We've been quite busy in finalizing the deal for our core business in the last six weeks and currently focus on a swift integration to optimize our plan for 2025. It simply makes more sense to make our projections going forward, including RBL Media and i.e. the digitization of the underlying contracts. We are ultimately a small team, so our resources are limited, so there is no other option. agenda or meaning behind the postponed CMD, just to be clear. However, I would like to take up topics in the following that are not directly affected by the acquisition, such as technical features, bookability and targeting, in order to provide a deeper understanding of our growth drivers at the moment. Henning will then comment on the developments and effects of our Q3 figures in more detail. This will be followed by remarks on what we expect for the fourth quarter and the full year. As always, we are looking forward to your questions after our presentation. With that, we start the call with a short overview of Q3 2024 and the nine months market dynamics. Let's put our performance into the context of direct and indirect peers in Germany. You're probably familiar with this chart. And as always, the numbers in the two middle columns are based on Nielsen, which reports gross revenue, which is inflated by roughly six to seven points versus net numbers, whi...