Investor Presentation • Mar 17, 2022
Investor Presentation
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Preliminary and unaudited figures for Q4 & FY 2021J.P. MORGAN Pan-European Small/Mid Cap CEO Conference
March 17th, 2022 | Ströer SE & Co. KGaA
Group Update Financials Outlook
OoH and Group Performance back on Track since Q3
Entire Q1 in hard lockdown; cost management and PLUS businesses with very strong momentum
Q2 with beginning Vshape recovery of OoH media parallel to more and more normal public life
Group performance in Q3 back above pre-COVID level with some minor after-effects of the pandemic
All businesses in Q4with very strong performance, no relevant effects of pandemic visible any more
More than five Months hard Lockdown followed by strong Rebound in H2
| € m |
F Y 2 0 2 0 |
F Y 2 0 2 1 |
▲ | |
|---|---|---|---|---|
| R d h t t e p o r e g r o w |
1, 4 4 2 2 |
1, 6 2 7 3 |
% 1 3 + |
|
| R e v e n u e s |
( ) 1 O i h t r g a n c g r o w |
% 8 3 - |
% 1 2 6 |
% 2 0 9 t + p s |
| ( ) E B I T D A d j t d a u s e |
4 5 2 8 |
5 1 3 3 |
% 1 3 + |
|
| ( ) E B I T d j t d a s e u |
1 7 6 8 |
2 4 9 1 |
% 4 1 + |
|
| ( 2 ) N t i ( d j t d ) e n c o m e a u s e |
1 2 6 0 |
1 7 0 2 |
3 5 % + |
|
| O t i h f l p e r a n g c a s o w |
3 8 0 0 |
4 2 6 5 |
1 2 % + |
|
| C a p e x |
9 4 5 |
1 0 1. 4 |
6 % + |
|
| A d j d i t u s e e a r n n |
( 3 ) h ( i E U R ) g s p e r s a r e n |
2 0 0 |
2 8 6 |
4 3 % + |
Note: Figures are preliminary and unaudited
(1)Excluding exchange rate effects and effects from (de)consolidation and discontinuation of operations
(2)Adjusted for exceptional items and additional other reconciling factors in D&A (PPA related amortization and impairment losses), in financial result and in income taxes (3)After minorities
Clear Focus on strong organic Growth Levers and total Shareholder Return
Recap of our Plans from the Capital Market Day & Update for 2022
| N b f P b l i V i d m e r o c e o u u S c r e e n s |
H 1 2 0 2 1 |
F Y 2 0 2 1 |
2 0 2 2- 2 0 2 6 |
U d f 2 0 2 2 t p a e o r |
2 0 2 6 h d u n c a n g e |
||
|---|---|---|---|---|---|---|---|
| 2 d i 2 > m e m m u |
1 0 7 |
2 6 0 |
|||||
| P i r e m m u R d i d o a s e S c r e e n s |
2 l ~9 a r g e m |
5 2 4 |
7 5 0 |
Ø 0 0 5 ~ t |
0- 8 0 0 7 5 t o n o p ~ 0 0 0 t i l + |
3, 0 0 5 + i l t t m a x p o e n a 7, 0 0 0 b 2 0 2 6 y ~ |
|
| 2 l 4 0 < x- a r g e m |
3 6 |
5 0 |
o n o p p e r y e a r |
( 1, u n Q 1 / 2 0 2 3 ) |
|||
| T O T A L |
3 0 7 |
1, 0 1 0 |
|||||
| P i r e m u m I d n o o r |
b l i t t p u c r a n s p o r |
7 3 1 |
8 0 0 |
||||
| i i t t t r a n s a o n s |
1, 8 6 7 |
1, 9 0 0 |
Ø 3 0 0 ~ t o n o p |
4 0 0 t o n o p ~ ( 9 0 % i > n |
6, 8 0 0 + t t i l m a x p o e n a 8, 0 0 0 b 2 0 2 6 |
||
| S c r e e n s |
l l ( ) * + m a s |
2, 6 0 5 |
2, 3 0 5 |
p e r y e a r |
1 0 i i ) t t o p c e s |
y ~ |
|
| T O T A L |
5, 0 7 7 |
5, 3 5 0 |
|||||
| O S P |
2, 2 6 9 |
2, 3 4 5 |
9 0 0 0 + |
||||
| & L t i l o n g a 3 d P t r a r y S c r e e n s |
b i t a m e n |
1 3, 2 1 3 |
1 3, 6 9 0 |
i i t t o p p o r n s c u |
i i i h t t t o p p o r n s c u w |
0, i l t t m a p o e n a x |
|
| 3 d t r p a r y |
5 8, 6 1 0 |
5 8, 6 1 0 |
d l t e v e o p m e n |
f P O S o c u s o n |
1 8 0, 0 0 0 b 2 0 2 6 y ~ |
||
| O T T A L |
7 4, 0 9 2 |
7 4, 6 4 5 |
* Including top indoor locations like e.g. premium cinemas or large event locations
Public Video Giant Airport Dusseldorf
Digital Motion Tower Berlin & Munich
High D-OoH Reach and Audience Coverage (x3 within 5 Years)
* OTS = Opportunity to see. Average OTS amongst all age splits, based on total population in Cities >50k citizens
Clear Focus on strong organic Growth Levers and total Shareholder Return
Accelerated Performance since 2017 after restructuring by Ströer
Constantly evolving
Deepening Relations with major Advertising Partners
Impact- and reach-boosting brand communication with OOH and DOOH
Declining reach on TV led Ferrero to turn to OOH
Outlook 2022: Further OOH activities and expansion DOOH
Stronger Focus on the booming Fiction Genre
Source: Ströer Data, *Increased Sales Performance from 2019 to 2021
Clear Focus on strong organic Growth Levers and total Shareholder Return
inspired by Salesforce and SaaS
DaaS KPIs similar to SaaS KPIs
ARPA Growth with powerful Extensions to Statistics and Reports Database
In parallel strong invest in Backend flexibility and better Usability
EUR 250mn in Sales by 2025
Fast growing, scalable and high margin Profile
Group Update Financials Outlook
| € m |
F Y 2 0 1 9 |
F Y 2 0 2 0 |
F Y 2 0 2 1 |
2 0 2 1 2 0 2 0 ▲ v s |
|---|---|---|---|---|
| R e v e n u e s |
1, 9 1. 1 5 |
1, 4 4 2. 2 |
1, 6 2 3 7. |
1 3 % + |
| O i t h ( t / t h d ) r g a n c g r o w c u r r e n n e w m e o |
7. 1 % / 6. 8 % + + |
8. 3 % / - 8. 3 % - |
1 2. 6 % / 1 3. 2 % + + |
|
| E B I T D A ( d j t d ) a u s e |
5 3 8. 3 |
4 5 2. 8 |
5 1 3. 3 |
1 3 % + |
| E t i l i t x c e p o n a e m s |
3 4. 4 - |
2 2. 5 - |
5. 9 - |
7 4 % + |
| E B I T D A |
5 0 4. 0 |
4 3 0. 2 |
5 0 7. 3 |
1 8 % + |
| D i i & A i i * t t t e p r e c a o n m o r z a o n |
3 4 5. 5 - |
3 3 3 5. - |
3 1 0. 1 - |
8 % + |
| E B I T |
1 8. 4 5 |
9 4. 9 |
1 9 3 7. |
1 0 0 % > + |
| F i i l l t * n a n c a r e s u |
3 2. 6 - |
3 4. 0 - |
2 8. 6 - |
1 6 % + |
| E B T |
1 2 5. 8 |
6 0. 9 |
1 6 8. 7 |
1 0 0 % > + |
| T l ** t a r e s x u |
1 9. 9 - |
1 2. 7 - |
3 8. 5 - |
% 1 0 0 <- |
| N I t e n c o m e |
1 0 9 5. |
4 8. 2 |
1 3 0. 3 |
1 0 0 % > + |
| A d j t t * u s m e n s |
8 8. 6 |
7 7. 8 |
3 9. 9 |
4 9 % - |
| ( ) N t I d j t d e n c o m e a u s e |
1 9 4. 5 |
1 2 6. 0 |
1 7 0. 2 |
3 5 % + |
Note: Figures are preliminary and unaudited; new organic growth calculation with 12 months delayed recognition of acquisitions (applied from fiscal year 2022)
* Thereof attributable to IFRS 16 in D&A 193.9m€ (PY: 178.6m€; PPY: 178.4m€) and in financial result 17.8m€ (PY: 15.4m€; PPY: 20.7m€)
** Tax rate according to IFRS is 22.8% (PY: 20.8%; PPY: 15.8%)
*** Adjusted for exceptional items (+5.9m€) and additional other reconciling factors in D&A (PPA related amortization and impairment losses, +45.9m€), 24
in financial result (+0.4m€) and in income taxes (-12.4m€)
| € m |
Q 4 2 0 1 9 |
Q 4 2 0 2 0 |
Q 4 2 0 2 1 |
2 0 2 1 2 0 2 0 ▲ v s |
|---|---|---|---|---|
| R e v e n u e s |
4 6 8. 1 |
4 5 4. 8 |
5 2 7. 2 |
1 6 % + |
| O ( / ) i t h t t h d r g a n c g r o w c u r r e n n e w m e o |
6. 7 % / 6. 5 % + + |
1. 9 % / - 1. 7 % - |
1 5. 4 % / 1 6. 2 % + + |
|
| ( ) E B I T D A d j t d a s e u |
1 7 5. 1 |
1 6 1. 7 |
1 9 4. 4 |
% 2 0 + |
| E i l i t t x c e p o n a e m s |
1 0. 7 - |
2. 1 - |
0. 3 - |
8 % 4 + |
| E B I T D A |
1 6 4. 4 |
1 9. 5 7 |
1 9 4. 0 |
2 2 % + |
| D i t i & A t i t i * e p r e c a o n m o r z a o n |
9 1. 6 - |
8 1. 7 - |
7 8. 9 - |
3 % + |
| E B I T |
7 2. 9 |
7 8. 0 |
1 1 5. 1 |
4 7 % + |
| * F i i l l t n a n c a r e s u |
9. 8 - |
1 2. 5 - |
7. 1 - |
4 3 % + |
| E B T |
6 3. 0 |
6 6 5. |
1 0 8. 0 |
6 % 5 + |
| T l t ** a x r e s u |
1 3. 0 - |
1 1. 8 - |
2 3. 7 - |
1 0 0 % <- |
| N t I e n c o m e |
5 0. 1 |
5 3. 7 |
8 4. 4 |
5 7 % + |
| * A d j t t u s m e n s |
2 8. 1 |
1 8. 2 |
2. 4 |
8 7 % - |
| N I ( d j d ) t t e n c o m e a s e u |
8. 2 7 |
2. 0 7 |
8 6. 8 |
2 1 % + |
Note: Figures are preliminary and unaudited; new organic growth calculation with 12 months delayed recognition of acquisitions (applied from fiscal year 2022)
* Thereof attributable to IFRS 16 in D&A 51.8m€ (PY: 45.5m€; PPY: 47.0m€) and in financial result 4.5m€ (PY: 4.3m€; PPY: 4.8m€)
** Tax rate according to IFRS is 21.9% (PY: 18.0%; PPY: 20.6%)
*** Adjusted for exceptional items (0.3m€) and additional other reconciling factors in D&A (PPA related amortization and impairment losses, +8.4m€)25
and in income taxes (-6.3m€)
| € m |
2 0 2 0 F Y |
2 0 2 1 F Y |
|---|---|---|
| ( ) E B I T D A d j t d a u s e |
4 5 2. 8 |
5 1 3. 3 |
| E i l i t t x c e p o n a e m s - |
2 2. 5 - |
9 5. - |
| E B I T D A |
4 3 0. 2 |
0 3 5 7. |
| I t t n e r e s - |
2 5. 1 - |
2 6. 3 - |
| T a x - |
2 8. 3 - |
3 3. 0 - |
| / W C + - |
1 2 7. - |
2 1. 5 - |
| / O h t + e r s - |
2 0. 3 + |
0. 1 - |
| O C t i h F l p e r a n g a s o w |
3 8 0. 0 |
4 2 6. 5 |
| I t t ( b f M & A ) n v e s m e n s e o r e |
9 5. 4 - |
1 0 1. 4 - |
| F C h F l ( b f M & A ) r e e a s o w e o r e |
2 8 4. 6 |
3 2 1 5. |
| L l i b i l i ( I F R S 1 6 ) ** t t e a s e a r e p a m e n s y y |
1 3 5 4. - |
1 8. 1 7 - |
| C ( ) * F h F l d j t d r e e a s o w a u s e |
1 3 0. 3 |
1 4 7. 0 |
| C t o m m e n |
||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| D i i t h i 2 0 2 1 l t i d y n a m c e a r n n g s g r o w n r e s u s n s o u n f f h l c a s o p e r o r m a n c e w |
||||||||||
| W k i i t l d l t i l d d t i f o r n g c a p a e v e o p m e n n c u e s r e u c o n o f t i d i r e e r s e a c o r n g a n e p a n s o n v x |
||||||||||
| E f f t i O t h l l d t l l ( i t i e c s n e r s o v e r a o n a m o e r a e e v e p o s o n i l l i k d h i f h i ) t t t t m a n n e o e c o r r e c o n o n o n- c a s e m s y |
||||||||||
| S C l i h t l h i h l l i l d i b g y g e r a p e x e v e m a n y r v e n y a n i d d i i l i i h t t t t n c r e a s e g a a o n g r o m o m e n m z w u |
||||||||||
| L t i l d d e a s e p a y m e n s n c u e |
f d t e e r r e p a y m e n s |
|||||||||
| C t i i t o n n u o u s m p r o v e m e n |
f l t i *; t 2. 0 o e v e r a g e r a o n o w a |
|||||||||
| 2. 2 9 2. 9 7 2. 3 1 2. 4 9 |
1. 9 7 |
|||||||||
| 0 8, 7 6 4 3, 4 6 2 2, 8 6 0 2, 2 |
3 6 1 2, 3 F ina ia l n de b t t |
|||||||||
| nc e Le io t ve rag e r a |
||||||||||
| 3 1 De 3 1 Ma 3 0 Ju 3 0 Se c r n 2 0 2 0 2 0 2 1 2 0 2 1 2 0 2 1 |
3 1 De p c 2 0 2 1 |
Note: Figures are preliminary and unaudited
* Net debt and adj. EBITDA of last 12 month adjusted for IFRS 16; restated retrospectively due to the purchase price allocations that were finalized after 30 September 2021
** Part of cash flow from financing activities; *** Before M&A and incl. IFRS 16 lease liability repayments
| Q 4 |
2 0 2 1 ▲ |
F Y |
2 0 2 1 ▲ |
|||||
|---|---|---|---|---|---|---|---|---|
| € m |
2 0 1 9 |
2 0 2 0 |
2 0 2 1 |
2 0 2 0 s v |
2 0 1 9 |
2 0 2 0 |
2 0 2 1 |
2 0 2 0 s v |
| S f t t h e g m e n r e v e n u e, e r e o |
2 6. 5 7 |
2 1 6. 3 |
2 6. 3 5 |
1 8. % 5 + |
8 2 4 7. |
6 5 5. 7 |
0 0. 8 7 |
6. 9 % + |
| C l i O H a s s c o |
1 7 9. 9 |
1 4 9. 8 |
1 5 9. 9 |
6. 8 % + |
5 9 4. 4 |
4 6 5. 6 |
4 7 3. 7 |
1. 7 % + |
| D i i l O H t g a o |
6 1. 1 |
1. 9 5 |
9. 6 7 |
3. 3 % 5 + |
1 6 3 7. |
1 3 9. 7 |
1 3. 8 7 |
2 4. 4 % + |
| O H S i o e r v c e s |
1 5. 7 |
1 4. 6 |
1 6. 8 |
1 4. 8 % + |
6 5. 7 |
5 0. 3 |
5 3. 3 |
5. 8 % + |
| E B I T D A ( d j d ) t a s e u |
1 2 9. 5 |
1 1 0. 4 |
1 4 0. 8 |
2 6 % 7. + |
4 0 1. 6 |
2 9 8. 2 |
3 3 9 5. |
1 2. 6 % + |
| E B I T D A i ( d j t d ) m a r g n a u s e |
% 5 0. 5 |
% 5 1. 0 |
% 5 4. 9 |
% 3. 9 t + p s |
% 4 8. 5 |
% 4 5. 5 |
% 4 7. 9 |
% 2. 4 t + p s |
| Q 4 |
2 0 2 1 ▲ |
F Y |
2 0 2 1 ▲ |
|||||
|---|---|---|---|---|---|---|---|---|
| € m |
2 0 1 9 |
2 0 2 0 |
2 0 2 1 |
2 0 2 0 v s |
2 0 1 9 |
2 0 2 0 |
2 0 2 1 |
2 0 2 0 v s |
| S t t h f e g m e n r e v e n u e, e r e o |
1 8 9. 2 |
1 9 8. 5 |
2 2 8. 2 |
1 5. 0 % + |
6 5 0. 9 |
6 3 6. 7 |
7 3 3. 9 |
1 5. 3 % + |
| D i i t l g a |
1 2 9. 7 |
1 1 6 7. |
1 4 2. 1 |
2 0. 9 % + |
4 2 0. 1 |
3 8 6. 7 |
4 2 9. 5 |
1 1. 1 % + |
| D i l a o g |
5 9. 4 |
8 1. 0 |
8 6. 1 |
6. 4 % + |
2 3 0. 8 |
2 5 0. 0 |
3 0 4. 3 |
2 1. 8 % + |
| E B I T D A ( d j d ) t a s e u |
4 6. 1 |
4 5 5. |
6 1. 4 |
1 0. 9 % + |
1 3 2 5. |
1 5 5. 5 |
1 8 4 7. |
2 0. % 5 + |
| E B I T D A i ( d j t d ) m a r g n a u s e |
2 4. 4 % |
2 7. 9 % |
2 6. 9 % |
1. 0 % t p s - |
2 0. 8 % |
2 4. 4 % |
2 5. 5 % |
1. 1 % t + p s |
| Q 4 |
2 0 2 1 ▲ |
F Y |
2 0 2 1 ▲ |
|||||
|---|---|---|---|---|---|---|---|---|
| € m |
2 0 1 9 |
2 0 2 0 |
2 0 2 1 |
2 0 2 0 v s |
2 0 1 9 |
2 0 2 0 |
2 0 2 1 |
2 0 2 0 v s |
| S h f t t e g m e n r e v e n u e, e r e o |
3 6. 4 |
5 1. 9 |
6 7. 0 |
2 9. 1 % + |
1 4 2. 9 |
1 8 0. 0 |
2 4 1. 9 |
3 4. 4 % + |
| S D t i a a a s a e r v c e |
1 6. 2 |
2 1. 0 |
2 9. 2 |
3 9. 1 % + |
9. 3 5 |
3. 7 7 |
1 0 1. 8 |
3 8. 1 % + |
| E- C o m m e r c e |
2 0. 2 |
3 0. 9 |
3 7. 8 |
2 2. 3 % + |
8 3. 6 |
1 0 6. 3 |
1 4 0. 1 |
3 1. 8 % + |
| E B I T D A ( d j d ) t a s e u |
6 5. |
4. 3 |
3. 0 |
2 9. 8 % - |
2 2. 8 |
2 1. 6 |
2 2. 1 |
2. 3 % + |
| E B I T D A i ( d j t d ) m a r g n a u s e |
1 5. 3 % |
8. 3 % |
4. 5 % |
3. 8 % t p s - |
1 5. 9 % |
1 2. 0 % |
9. 1 % |
2. 9 % t p s - |
Group Update Financials Outlook
Based on the assumption that there is no significant new COVID wave in autumn and without massive international political or economic turmoil
we expect for the full year 2022
This presentation contains "forward looking statements" regarding Ströer SE & Co. KGaA ("Ströer") or the Ströer Group, including opinions, estimates and projections regarding Ströer's or the Ströer Group's financial position, business strategy, plans and objectives of management and future operations.
Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Ströer or the Ströer Group to be materially different from future results, performance or achievements expressed or implied by such forward looking statements.
These forward looking statements speak only as of the date of this presentation release and are based on numerous assumptions which may or may not prove to be correct. No representation or warranty, express or implied, is made by Ströer with respect to the fairness, completeness, correctness, reasonableness or accuracy of any information and opinions contained herein.
The information in this presentation is subject to change without notice, it may be incomplete or condensed, and it may not contain all material information concerning Ströer or the Ströer Group. Ströer undertakes no obligation to publicly update or revise any forward looking statements or other information stated herein, whether as a result of newinformation, future events or otherwise.
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