Accelerating Momentum in (D)OoH Nordics Roadshow
ODDO BHF
CORPORATES & MARKETS
June 3&4, 2024 Scandinavia | Ströer SE & Co. KGaA
Agenda
1 2 3
Group Update | Financials | Outlook |
2
Business segments at a glance
OOH
Media
in EUR million | 2022 | 2023 | Delta |
Revenue | 790.9 | 856.4 | 8.3% |
EBITDA (adj.) | 373.0 | 391.2 | 4.9% |
EBITDA margin (adj.) | 47.2% | 45.7 | -1.5%pts |
#1 OOH provider in Germany
MARKET SHARE
Area-wide marketing & operation of around 300,000 advertising spaces and 20,000 items of street furniture
Product variety at the touchpoints street, building & means of transportation; Reach of up to 80%
Industry standards through continuous research & development
Complementing the digital infrastructure of cities with advertising media
Digital &
Dialog Media
in EUR million | 2022 | 2023 | Delta |
Revenue | 743.7 | 815.8 | 9.7% |
EBITDA (adj.) | 177.8 | 155.0 | -12.8% |
EBITDA margin (adj.) | 23.9% | 19.0% | -4.9%pts |
#1 digital marketer in Germany
High-quality portfolio reaches around 50 million UU per month
Strong market position in news and diverse premium content for digital natives
Full call-center services with focus on outbound sales & cross/up-selling activities
Comprehensive field service
DaaS &
E-Commerce
in EUR million | 2022 | 2023 | Delta |
Revenue | 294.4 | 350.9 | 19.2% |
EBITDA (adj.) | 20.7 | 54.3 | > 100% |
EBITDA margin (adj.) | 7.0% | 15.5% | +8.4%pts |
ASAMBEAUTY |
Leading digital beauty private label platform in DACH, strong
retail business
Statista |
Leading global provider of business, consumer and industry data Subscription-based B2B model
3
Results Q1 2024
m€ | Q1 2023 | Q1 2024 | ▲ |
Reported growth
Revenues
Organic growth(1)
EBITDA (adjusted)
EBIT (adjusted)
Net income (adjusted)(2)
Free Cash Flow (adjusted)
Capex
409.9
+7.3%
97.2
26.1
8.9
-14.5
31.4
453.4
+8.9%
108.4
34.7
12.5
-24.4
19.4
+11%
+1.6%pts
+12%
+33%
+41%
-68%
-38%
(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), | 4 |
in financial result and in income taxes |
Q1 2024 Market Dynamics: (D)OoH still outperforming the Ad Market
German Ad Market with positive Momentum in the first three Months
Global Points of Reference
Reported Net Revenues
Alphabet (2)
+15%
Youtube (2)
+21%
Meta (3)
+27%
Local German Peers
Desktop/Mobile (4) | German | |
Ad Market (4) | ||
+10% | ||
+11% | ||
TV Germany (4) | Print Germany (4) | |
+12% | +6% | |
Radio Germany (4) | OoH Germany (4) | |
+15% | +22% | |
Ströer Group & Core Business
Reported Net Revenues
Ströer DOoH
+30%
Ströer OoH
+16%
Ströer Group
+11%
(1)Internal estimates & ZAW; (2)Alphabet IR; (3)Meta; (4)Nielsen Numbers (gross) for Q1 2024 | 5 |
OoH Category structurally & constantly increases Market Shares
Accelerating Momentum since the End of the Pandemic
Index | Covid-19 pandemic | ||||||||||
OoH | |||||||||||
220 | |||||||||||
200 | |||||||||||
180 | |||||||||||
160 | |||||||||||
Online | |||||||||||
140 | TV | ||||||||||
Total | |||||||||||
120 | Radio | ||||||||||
100 | |||||||||||
80 | |||||||||||
2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024e |
Source: Nielsen Numbers (gross) 2013 - 2023; 2024 projection based on econometric modelling and estimated net growth of ~ 5.6% in Q1/2024 | 6 |
Robust Growth in the OoH Segment in Germany
Momentum for 2024 indicates 10% Market Share throughout 2025
OoH market share of the total advertising market in %
10 | +171% | ||||||||||||||||||
9.2 | |||||||||||||||||||
9 | 8.6 | ||||||||||||||||||
8 | 7.8 | ||||||||||||||||||
7.5 | |||||||||||||||||||
7.2 | |||||||||||||||||||
7.1 | 7.1 | 7.0 | |||||||||||||||||
7 | 6.4 | ||||||||||||||||||
Corona | |||||||||||||||||||
5.9 | |||||||||||||||||||
6 | pandemie lockdowns | ||||||||||||||||||
5.5 | 5.5 | ||||||||||||||||||
Financial and | 4.9 | 4.9 | |||||||||||||||||
5 | economic crisis | Meta / Google | |||||||||||||||||
4.5 | |||||||||||||||||||
4.3 | market focus | ||||||||||||||||||
4.0 | |||||||||||||||||||
4.0 | |||||||||||||||||||
4 | 3.6 | ||||||||||||||||||
3.4 | |||||||||||||||||||
3 | |||||||||||||||||||
2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024e |
OoH share*
Source: Nielsen Media Research, gross advertising | 7 |
*OoH incl. billboard, transport media incl. public video and infoscreen, at-retail media incl. mall video, ambient media |
Market Projections indicate sustainable further Growth of (D)OoH
Digitization and Programmatic (DOoH) Advertising as Key Levers
3200
3000
2800
2600
2400
2200
2000
1800
1600
1400
1200
1000
800
600
400
200
0
2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | 2031 | 2032 |
OoH DOoH non-programmatic DOoH programmatic
Net advertising revenue Out of Home in Germany | 8 |
Source: IDOOH(Institute for Digital Out of Home Media GmbH) - Market growth OoH according to PwC Entertainment & Media Outlook 2022 with adjustments from IDOOH |
Exemplary KPIs for our DOoH Momentum (+30%) in Q1/2024
Consistent Development for the last nine Months and similar Outlook for Q2/2024
National advertiser segment | Q1/2024 (vs. Q1/2023) | Underlying value driver |
Active advertisers (= net customer growth) | +14% | Constantly broader penetration |
of the total ad market | ||
Net revenue retention (rate card with ~7% increase) | 111% | Low customer churn |
based on strong ROI for advertisers | ||
Share of programmatic revenue / increase | 57% | Further integration of DOoH |
+8%-points | in digital marketing universe | |
Average ticket size below top 20% customers / change | 77k EUR | Low entry barriers & |
almost unlimited longtail potential | ||
9
Strong Momentum in digital Sales (Online | DOoH)
Our Online Business in particular supports the DOoH Momentum
Ströer Private Marketplace Online | Sports Publishing | Special forms of Online Advertising | ||
- Marketable reach increased by +40%, e.g. due to transfermarkt, Sport1 and CTV publishers such as Warner Bros, Discovery, among others
- Video as a strong revenue driver: online video +73% and connected TV +159%
Ströer Private Market Place*
+18%
- New publisher with Sport1, whole world of sports 24/7, including highlights
- Analyze football like professionals with transfermarkt 4.0 million UUs
- Live soccer scores in real time with TorAlarm 1.1 million UUs
- +30 high impact formats for desktop, mobile and multiscreen implementations
- Ströer can offer over 80% of the high impact formats in demand in the market
StröerStröerDigitalDigitalMedia*Media1
MediaMediaImpact**Impact2
Quarter Media***3 | |||||||
PMP gesa | m | t | Quarter Media | ||||
Q1 2023 | Q1 2024 |
27.1 UU**
25.2 UU**
18.8 UU**
Source: *Sales // Ströer Data, AGOF daily digital facts | * * million Unique User (UU) | 1incl. sport1 and transfermarkt; 2excl. SPORT1 and transfermarkt; 3incl. kicker and Alpin | 10 |
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Stroeer SE & Co. KGaA published this content on 03 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 June 2024 08:39:08 UTC.