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Ströer SE & Co. KGaA

Investor Presentation • May 11, 2021

417_ip_2021-05-11_52af9e51-18b2-4026-a4a1-00a53258dba7.pdf

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Q1 2021 – Robustly out of the Crisis

May 11, 2021 | Ströer SE & Co. KGaA

Agenda

Business Update

Financial Status Update Asam Outlook

Key Takeaways from entire Quarter 1 with hard Lockdown Extremely robust Setup for the Crisis | Long-term strategic Drivers fully intact

Key MessagesFY 2020

    1. OoH cost structure: Certain matters like rent adjustments still work in progress and therefore not fully reflected
    1. Out-of-Home rebound expected in V-shape as soon as audience and ad market recover after lockdown; Digital Out of Home with faster recovery
    1. Non-OoH-Businesses ("PLUS": Digital & Dialog Media + DaaS & E-Commerce) strong through the crisis and operating in normal mode or better
    1. Overall advertising market with a stronger shift towards digital, technology/programmatic and data
    1. Leading market position will help gain market share in rebound phase to accelerate further consolidation
    1. Diversified client portfolio (from local to national and across all industries) helps both in the crisis and in the recovery phase

Q1 2021

Results Q1 2021

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(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

Covid & Lockdown with strong Impact on Out of Home Media in Q1 Group Revenue with ~ IX 85 vs. 2020 at upper End of Expectations

  • Cross-annual lockdown from November to at least May leads to restrained bookings
  • Less sharp impact than in Q2/2020 and improving momentum towards Q2
  • Local sales with slight growth; national sales and Public Video recovery strongly related to end of lockdown

  • Portals (i.e., t-online) and AdSales (3rd party) robust, Easter weaker due to lockdown
  • Dialog business (contact center) slightly above 20% organic growth overall
  • Door-to-door business with outstanding 20% organic growth despite lockdown effects

  • Statista slightly ahead of historic CAGR with 31% organic growth
  • Asam sustainably outperforms pre-Covid growth and grows by 41%
    • i.e., e-commerce business with revenue growth of more than 80%

Development of monthly OoHRevenue: 2021 vs. 2020/2019

Good Dynamics since Easter | good Visibility for May | June with upside Potential

Trend based on current dynamics combined with nationwide vaccination: HY2 back on and beyond 2019

Q1 Highlights Out of Home Media – Digital & Dialog Media

*Source: AGOF digital facts

Q2 Expectations: OoH gains Momentum, 'PLUS' with strong Growth Besides tougher public Life Restrictions than PY: Group Revenue ~ IX 135-140

  • Cross-annual lockdown from November to at least May leads to restrained bookings
  • Orderbook already ahead of last year's final Q2 numbers; local business >+10%
  • National sales and public video with growing dynamics WoW since Easter
  • Portals (i.e., t-online) and AdSales (3rd party inventory) strong and vs. softer comps
  • Dialog business (contact centers) above 15% organic growth overall vs. tough comps
  • Door-to-door business strong and vs. weak comps (sales stop in Q2/2020)
  • Statista on track of historic CAGR of around 25% topline growth and ongoing global expansion
  • Asam sustainably outperforming pre-Covid growth, growing around 35% vs. a very strong prior year quarter

German Out of Home Advertising Market Forecast by Nielsen Recovery Phase taking off

Source: Nielsen Forecast Germany - Advertising Sales, Gross advertising sales

Agenda

Business Update

Financial Status

Update Asam Outlook

Profit and Loss Statement Q1 2021

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*Thereof attributable to IFRS 16 in D&A 47.5m€ (PY: 44.5m€) and in financial result 4.4m€ (PY: 3.8m€)

**Adjusted for exceptional items (+2.4m€) and additional other reconciling factors in D&A (PPA related amortization and impairment losses, +10.2m€),

in financial result (+0.5m€) and in income taxes (-2.9m€)

Free Cash Flow Perspective Q1 2021

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Segment Perspective Q1 2021

  • High negative Covid impact; massive business decline during lockdown
  • Digital OoH heavily affected by Covid
  • Stable gross margin from tight cost management

  • Online advertising and content publishing below PY
  • Call Center and D2D business ongoing robust
  • Overall, nearly stable EBITDA margin from tight cost management

Asam and Statista with double digit growth

New Product Groups reported

  • Classic OoH (all forms of traditional advertising units)
  • Digital OoH (esp. Public Video, Road Side Screens)
  • OoH Services (additional OoH related offerings)

Digital & Dialog Media comprises the two product groups of the same name

  • Digital (online advertising, content publishing)
  • Dialog (call center and D2D business)

DaaS & E-Commerce contains our nonadvertising activities of

  • E-Commerce (Asambeauty)
  • Data as a Service (Statista)

ESG: Key Milestones and Update Q1 2021

Environment

CO2 Audit and reduction

Group-wide project launched to calculate CCF on 2019 basis. First results indicate industry standard CO2 emissions.

In parallel, high CO2 savings potential identified and tackled by converting to green power where possible.

Car fleet with increasing share of Hybrid- and e-Vehicles

First Rating

First, successful participation in environmental rating

Social

#ChooseToChallenge

Several colleagues contributed under the Hashtag #choosetochallenge in the International Women's day. Their quotes went viral in addition to the hashtags to the women initiatives like IWIL and "Frauen in Führung" where Ströer is member since many years.

Governance

Cyber Security

Cyber security checks conducted in all business areas. Satisfactory cyber security level but some improvement areas identified. Business Units are currently addressing these areas.

Agenda

Business Update

Financial Status

Update Asam

Outlook

Key Investment Highlights

  • High-Performance G-Beauty1 Brand
  • Best-in class Actives Delivery based on proprietary IP
  • AI & Data-driven sales and marketing strategy
  • First mover in streaming based live shopping on next generation video platform
  • Fast growing G-Beauty Brand with high profitability

High Performance G-Beauty Kick-off for Live Video Platform and International Rollout started

  • Proprietary skin delivery technology for most powerful active ingredients
  • Ongoing development of performance-focused innovations in all beauty categories
  • Full vertical value integration with secure superior product quality and speed of innovation
  • No. 1 Beauty Platform with Own Brands in GSA1
  • Rolloutof proven concepts to international markets

Unique online streaming platform perfectly designed for globally scalable growth

1Germany, Austria, Switzerland

Best in-class Actives Delivery based on proprietary IP

  • Science meets nature – pioneers in grape skin care Extensive inhouse R&D for highly efficient natural ingredients such as rejuvenating grape shot extract Resveratrol
  • Specialized in high performance delivery technologies

Powerful Actives paired with patented delivery systems for maximum effectiveness

Innovation in all relevant beauty categories Broad portfolio, from innovative make up mousses to instant skin perfecting formulars, forms international best sellers

AI Based Online Campaign Management

  • AI-powered identification of relevant ad placements
  • AI-based Audience Targeting (Audience Extension / "Statistical Twins")
  • AI-powered Prediction – identify customers who are likely to churn/ buy and place recommendations
  • Full integration of all relevant touchpoints to maximize customer lifetime value
  • One stop shopping beauty platform addressing all relevant beauty categories

First Mover in Streaming based live Shopping on next Generation Video Platform

First 100% committed video-commerce beauty platform to disrupt existing online-shopping concept

  • 100% video integration with customized inbound channels, livestream formats and brand experience videos as important growth accelerator
  • Leverage of 20 years real time performance live shopping experience to dedicated livestreaming ecommerce strategy
  • Already up to 50.000 EUR turnover per pilot sales show / hour
  • Munich based studios live in May 2021

Asam's new Live Video Platform is driving Digital Sales Asam is 1stMover in European Live Shopping

0

100

200

300

400

500

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Fast growing German Beauty Brand with high Profitability

Revenue Growth up to 30% YoY and EBITDA Margin of ~20% in developed markets

EBITDA margin in developed markets above 20%

  • Live shopping is going to disrupt current e-commerce structures
  • Asam is 1st mover in European live shopping landscape

Internationalization is Asam's 2nd key growth driver next to live shopping

  • Asam is kicking-off international rollout in 2021
  • 50% international revenues expected in 2025

0

50

100

150

200

Agenda

Business Update

Financial Status

Update Asam

Outlook

Ströer Group – Q2 Outlook

For the second quarter, we expect our group revenue 35-40% above prior year, EBITDA growing beyond 60% and a significant acceleration of our OoH business towards the end of Q2.

Source: 1Zenith and IPG/Rapport 2019

2021 – Full Year Outlook Formula unchanged

For 2021, we expect business on 2019 level minus lockdown effects plus catch-up after lockdown(s) – and we well give a trading update in the second half of June to share an update on Q2 & Q3.

As already shown in H2 2020, we do not expect any medium- and long-term structural changes in our revenue and profitability expectations.

Financial Calendar 2021

Disclaimer

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 new information, future events or otherwise.

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