Ströer SE & Co. KGaA

Earnings Release • May 14, 2019

Q1 2019

May 14, 2019 | Ströer SE & Co. KGaA

Results Q1 2019 (continuing Operations)

	Results Q1 2019 (continuing Operations)
m€		Q1 2019	Q1 2018	▲
	Reported	374.0	329.1	+14%
Revenues	Organic(1)			+7.2%
EBITDA (adjusted)		117.5	107.6	+9%
EBIT (adjusted)		48.3	45.3	+7%
Net income	(adjusted)(2)	34.3	31.8	+8%
Operating cash flow		87.6	73.7	+19%
Capex		20.0	32.4	-38%
		31 Mar 2019	31 Mar 2018
	Net financial debt (incl. lease obligations)	1,545.8	1,596.0	-3%

Organic Growth robust and stable each Quarter since 2013 Ströer sustainably outperforming the Ad Industry

Out-of-Home Market overperforms Ad Market

Source: Nielsen Forecast April 2019; GroupM; Vivaki. 6

Focus first One Country in Combination with best Client Access

Supply side Demand side

Local: From Ad Sales to 360 Degree One-Stop-Shop

*In broader multi-channel approach and combining OoH with Online & Direct media 7

Statista – Overview

Building a global DaaS Unicorn Statista is the leading global Data as a Service (DaaS) Business

Statista business model is based on: 22,500

• Subscription-based data marketplace with low churn
• Highly profitable with mid double-digit organic growth
• A global Blue Chip customer base across all key industries
• No direct competition

sources Thereof 50% exclusive 35% exclusive secondary 15% free accessible secondary sources

80,000

topics on statista.com

8

40

unique visitors monthly on our German and international websites

Statista – KPIs Building a global DaaS Unicorn Statista is the leading global Data as a Service (DaaS) Business

Share of account sales in 2018 (% of total)*

Strong upside potential for both, number of users and ARPU

• In developed markets we expect EBITDA margins in the mid thirties

Building a global DaaS Unicorn Statista is the leading global Data as a Service (DaaS) Business

Status Q1 2019

Top three Sales Platform: From national to hyper local Business

Key Elements of sustainable Business Development

Core of the OoH+ Strategy

TV vs. OoH Spendings Q1 2018 vs. Q1 2019

Source: Nielsen Media Research Gross Advertising, Q1 2018/2019 (Germany) 14

Business Update – Summary 2019

Profit and Loss Statement Q1 2019 Continuing Operations

Continuing Operations
m€	Q1 2019	Q1 2018	▲ %	Analysis
Revenues	374.0	329.1	+14%	Expansion driven by 7.2% organic growth and M&A
EBITDA (adjusted)	117.5	107.6	+9%	Strong growth
Exceptional items	-8.3	-8.8	+5%
EBITDA Depreciation & Amortization*	109.2	98.9	+10%	Larger consolidation scope
EBIT	-83.8 25.4	-77.7 21.2	-8% +20%
Financial result*	-7.7	-7.7	-0%
Tax result	-3.4	-1.8	-87%	Following higher tax base
Net Income	14.4	11.7	+23%
Adjustments**	+19.9	+20.1	+0%
Net Income (adjusted)	34.3	31.8	+8%	Strong growth – adjusted and non-adjusted

Free Cash Flow Perspective Q1 2019 Continuing Operations

Free Cash Flow Perspective Q1 2019 Continuing Operations m€	Q1 2019	Q1 2018
EBITDA (adjusted)	117.5	107.6
- Exceptional items	-8.3	-8.8
EBITDA	109.2	98.9
- Interest	-5.9	-5.8
- Tax	-11.2	-3.2
-/+ WC	-7.5	-12.5
- Others	+3.0	-3.8
Operating Cash Flow	87.6	73.7
Investments (before M&A)	-20.0	-32.4	1.6 1.4
Free Cash Flow (before M&A)	67.6	41.2
Lease liability repayments (IFRS 16)**	-49.1	-57.0
Free Cash Flow (adjusted)***	18.5	-15.7
Note: Disposal of OoH Turkey classified as discontinued operations Net debt and adj. EBITDA of last 12 month adjusted for IFRS 16 Part of cash flow from financing activities **Before M&A and incl. IFRS 16 lease liability repayments

 Free Cash Flow (before M&A) above previous year due to better operational performance and phasing effects in Capex  Tax payments according to plan; previous year comparably low  Investments affected by phasing effects; higher Capex expected in next quarters  Bank leverage ratio* improved from 1.6 to 1.4 : 1.6 1.4 Financial net debt 534.3 Leverage ratio 501.9 31 Mar 2018 31 Mar 2019		Comment

Segment Perspective Q1 2019 – Continuing Growth Momentum Continuing Operations

- mix effects

Note: Disposal of OoH Turkey classified as discontinued operations *Formerly Content Media 19

Ströer Group's Key Performance Indicators – Guidance 2019*

• For 2019 as a whole, we expect a positive sales and earnings trend in the mid singledigit percentage range.
• For Q2, and the first half of the year, we expect organic revenue growth of around 7% and therefore at the very top end of our annual guidance.

Financial Calendar 2019