NRJ Group

Earnings Release • Feb 3, 2022

Paris, February 3, 2022 - 5.45 pm 2021 revenue – NRJ Group

Excellent fourth quarter in 2021

• Strong growth in revenue(1) for radio activity
• Continued positive momentum for Television activity
• Broadcasting activity achieved commercial successes

	th quarter 4			12 months to date
In millions of euros	2021	2020	Change	2021	2020	Change
 Radio	72.1	60.4	+19.4%	216.3	191.5	+13.0%
Television	24.4	23.9	+2.1%	82.0	70.7	+16.0%
Broadcasting	17.5	15.9	+10.1%	66.8	62.6	+6.7%
Revenue excluding barters	114.0	100.2	+13.8%	365.1	324.8	+12.4%
Revenue on barters	5.6	3.7	+51.4%	13.5	11.4	+18.4%
Revenue	119.6	103.9	+15.1%	378.6	336.2	+12.6%

In the fourth quarter of 2021, NRJ Group reported consolidated revenue excluding barters of €114.0 million, a significant increase of 13.8% compared to the fourth quarter of 2020, and 6.3% compared to the same period of 2019. Consolidated revenue excluding barters for the 2021 financial year totalled €365.1 million, an increase of 12.4% compared to the 2020 financial year. This year again, this solid performance was supported by the power of the Group's brands. According to the Cross Médias study(2), more than 8 in 10 French people are entertained by NRJ Group's media each month.

RADIO

The Radio division's recovery began in March 2021 and was greatly boosted in the fourth quarter of 2021 with strong growth compared to the fourth quarter of 2020, which was marked by health restrictions. Revenue(1) for the Group's core division totalled €72.1 million, an increase of 19.4% compared to the fourth quarter of 2020, and 4.3% compared to that of 2019.

In the fourth quarter of 2021, international Radio recorded growth of 13.7% in its revenue(1) in comparison to the fourth quarter of 2020. In France, local Radio revenue(1) was up 35.8%, and that of national Radio grew by 15.8%, proving the relevance of NRJ Global's commercial strategy. Through its differentiating positioning, NRJ Global managed to increase the value of advertising across the 4 national radio stations.

The Médiamétrie results for the November-December 2021 audience wave show growth in radio media, with 429,000 more listeners year on year(3). 40.8 million(4) individuals now listen to the radio each day. The Group's radio stations significantly contributed to this increase in radio media, as their audience performance is higher than that of media as a whole, with +6% (media is at +1% and music radio stations at +5%(5)). The Group has the number one commercial radio offer in France for the 25–49 age group target, with 18.6%(6) audience share and solid dominant positions. NRJ brings all generations together and is France's number one radio station for listeners in the under-60 age group(7); 'MANU DANS LE 6/10' is France's number one morning show for listeners under 55(8), and 'C'CAUET' is France's number one afternoon radio show for the under-65 age group(9). Nostalgie, France's second music radio station(10), confirmed its excellent momentum and recorded an all-time-high increase, recruiting 434,000 daily listeners in one year(11). Chérie FM gained 29,000 new listeners in one year(12), plus 103,000 for Rire et Chansons(13) (the 'MORNING DU RIRE' show saw its audience share increase 25%(14)). Every day, almost 10 million French people listen to the Group's radio stations(15) .

Moreover, NRJ Group is the leading private digital audio group in France, with its programmes available on all digital devices: it is the number one private internet radio group(16) and the most listened to radio group on smart speakers(17). NRJ Group is ranked as the number one radio for e-commerce(18) and every week it brings together almost 5.1 million listeners who make purchases online(18). In 2021, the Group accelerated development of its podcasts by increasing its range of content and signing a strategic partnership with iHeartMedia. The Group's podcasts saw a 20%(19) increase in listening sessions in one year.

In 2021, the Radio division's revenue(1) totalled €216.3 million, up 13.0% compared to 2020, but down 8.6% compared to revenue(1) in 2019 given the more marked impact of the COVID-19 crisis on local and event-related activities.

TELEVISION

In 2021, TV remained the most powerful media foundation, bringing together 44.5 million viewers each day on average(20). French people retained their strong relationship with television, with an average daily viewing time among indivduals aged 4+(21) of 3 hours 41 minutes(22), i.e. an additional minute compared to 2019.

In 2021, the combined audience share for both of NRJ Group's free-to-air channels (NRJ 12 and Chérie 25) was 2.4%(23) for the entire viewing public and the 25–49 age group target, and 2.8%(23) among the women under 50 responsible for purchases target. This financial year, Chérie 25 recorded an all-time high for audience share of 1.2%(23) for the entire viewing public.

In the fourth quarter of 2021, the advertising market remained dynamic and was boosted by strong demand from advertisers, except for those in the food and transport sectors. In this positive context, revenue(1) for the Group's TV division grew by 2.1% to €24.4 million, despite a negative base comparison.

In the 2021 financial year, revenue(1) for the TV division totalled €82.0 million, up 16.0% compared with the previous financial year. This increase was seen for all 3 of the Group's channels, particularly Chérie 25 which recorded excellent commercial performances throughout 2021.

BROADCASTING

The Broadcasting division had an exceptional year in 2021 and achieved great commercial successes. towerCast, France's second operator, has continued to support its clients with "constant passion for innovation" across the entire value chain. In 4 years, towerCast's market shares have drastically increased: 29.0% for DTT (+5.8 percentage points), 27.7% for private FM (+0.9 percentage points) and 22.4% for public FM (+6.6 percentage points). It is now a major DAB+ player in France.

In the fourth quarter of the 2021 financial year, the Broadcasting division cemented its commercial momentum with revenue(1) of €17.5 million, up 10.1% compared to the fourth quarter of 2020.

In 2021, revenue(1) for the division totalled €66.8 million, a surge of 6.7% compared with the 2020 financial year. This increase is due to growth in all FM, DAB+ and DTT activities.

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Next release: 2021 annual results on March 23, 2022 (after market close).

Sources:

⁽¹⁾ Consolidated revenue excluding barters, in the process of being audited, and according to IFRS standards.

⁽²⁾ 2021.1Wave Cross Media study, reproduction prohibited, all rights reserved by Affimétrie, ACPM and Médiamétrie. Aged 15 years +.

⁽³⁾ Médiamétrie, EAR-National, November-December 2021, Radio as a whole, Monday-Friday, 5h-24h, aged 13 years and +, AC. November-December 2021 versus November-December 2020.

⁽⁴⁾ Médiamétrie, EAR-National, November-December 2021, Radio as a whole, Monday-Friday, 5h-24h, aged 13 years and +, AC.

⁽⁵⁾ Médiamétrie, EAR-National, November-December 2021, NRJ Global, Radio as a whole, Music radio stations, Monday-Friday, 5h-24h, aged 13 years and +, AC. November-December 2021 versus November-December 2020 in %.

• (6) Médiamétrie, EAR-National, November-December 2021, NRJ Global, Monday-Friday, 5h-24h, 25-49 age group, PDA.
• (7) Médiamétrie, EAR-National, November-December 2021, NRJ, Monday-Friday,13-59 age group, 5h-24h, AC.
• (8) Médiamétrie, EAR-National, November-December 2021, NRJ, Monday-Friday,13-54 age group, 6h00-10h00 (MANU DANS LE 6/10), AC.
• (9) Médiamétrie, EAR-National, November-December 2021, NRJ, Monday-Friday,13-64 age group, 15h00-20h00 (C'CAUET), AC.
• (10) Médiamétrie, EAR-National, November-December 2021, Nostalgie, Monday-Friday, aged 13 years and +, 5h-24h, QHM and PDA.
• (11) Médiamétrie, EAR-National, November-December 2021, Nostalgie, Monday-Friday, aged 13 years and +, 5h-24h, AC. November-December 2021 versus November-December 2020.
• (12) Médiamétrie, EAR-National, November-December 2021, Chérie FM, Monday-Friday, aged 13 years and +, 5h-24h, AC. November-December 2021 versus November-December 2020.
• (13) Médiamétrie, EAR-National, November-December 2021, Rire et Chansons, Monday-Friday, aged 13 years and +, 5h-24h, AC. November-December 2021 versus November-December 2020.
• (14) Médiamétrie, EAR-National, November-December 2021, Rire et Chansons, Monday-Friday, aged 13 years and +, 6h00-10h00 (MORNING DU RIRE), PDA. November-December 2021 versus November-December 2020 in %.
• (15) Médiamétrie, EAR-National, November-December 2021, NRJ Global, Monday-Friday, aged 13 years and +, 5h-24h, AC, 9,953,000 listeners.
• (16) ACPM-OJD, global digital radio broadcasting, December 2021, active listening sessions +30 seconds, data for France, NRJ Group: 27,328,036 active listening sessions.
• (17) Poll&Roll for NRJ Global, 500 people aged from 16 to 70, May 2021. 28% of radio listeners.
• (18) Kantar Media TGI October 2021. Stations listened to over the last 8 days. Online purchases in the past 12 months (websites/apps). 15+ age group target.
• (19) Internal data, qualitative downloads of podcasts (>10%) + Audiomeans data, listening sessions, 2021 versus 2020.
• (20) Médiamétrie-Médiamat,"Année TV 2021", aged 4 years + equipped with TV, coverage threshold 10 consecutive seconds.
• (21) Médiamétrie-Médiamat, DEI or consolidated average daily viewing time. Calculated for the entire day. Consolidated average daily viewing time = average time that all individuals (including non-viewers) spent listening to the television.
• (22) Médiamétrie-Médiamat,"Année TV 2021", aged 4 years + equipped with TV, modelling of outside home audience from 2019 to March 2020; measure of outside home audience starting from March 2020.
• (23) Médiamétrie-Médiamat, NRJ GROUP TV Division = aggregate NRJ 12 + Chérie 25, Audience share, Day of viewing, aged 4 years + or targets specified, 03h-27h, Monday to Sunday, 2021.

Notice: Some of the information contained in this financial release may be provisional. This information reflects either trends or objectives and cannot be taken as a forecast of results or of any other performance indicator. By its very nature, such information is subject to risks and uncertainties which may, in certain cases, be beyond the Company's control. More details on these risks and uncertainties can be found in the Company's Universal Registration Document, which is available on its website (www.nrjgroup.fr) in the "Finances/ Publications financières/ Rapports financiers" section.

About NRJ GROUP

NRJ GROUP is one of France's leading private media groups in the publishing, production and broadcasting sectors and also markets its own media spaces.

In France, the Group tops the private radio market with its four brands (NRJ, CHERIE FM, NOSTALGIE and RIRE & CHANSONS), is a significant player on the television market where it operates and develops two free national channels (NRJ 12 and CHERIE 25) and a paid channel (NRJ HITS, the number 1 cable-satellite-ADSL music channel) and, through its subsidiary towerCast, ranks number two on the French broadcasting market. Backed by its strong brands, marketing expertise and commercial performance, in recent years the Group has also developed a digital ecosystem enabling it to monitor and anticipate changes in the consumption of media via new delivery mechanisms, expanding its original brand portfolio through websites, mobile and voice apps, multi-channel networks and nearly 240 Internet radio stations. Today, NRJ Group is the number 1 private Internet radio group in France. This digital presence enables the Group's advertising business to provide its clients with a more targeted offering thanks to the strategic data collected by the Group.

On the international market, the Group is present in 17 other countries, with NRJ/ENERGY, the number one international radio brand, and/or NOSTALGIE/NOSTALGIA, either directly or through partnerships or licensing agreements.

NRJ GROUP shares are listed on the Euronext in Paris (compartment B). Codes - ISIN: FR0000121691; Reuters: NRG-FR; Bloomberg: NRG FP.

Analyst and Investor Information

NRJ GROUP – Investor Relations 46-50 avenue Théophile Gautier 75016 Paris - www.nrjgroup.fr FTI Consulting – Arnaud de Cheffontaines | Cosme Julien-Madoni / Tel: + 33 1 47 03 68 19 / e-mail: nrjgroup@fticonsulting.com

NRJ GROUP, a public limited company with capital of 781,076.21 euros Head office: 22, rue Boileau 75016 Paris 332 036 128 RCS PARIS