ARNOLDO MONDADORI EDITORE S.P.A. 1Q2024 Results
Investors Presentation
Antonio Porro - CEO Alessandro Franzosi - CFO
Segrate - May 14th, 2024
AGENDA
- 1Q 2024 Highlights
- 1Q 2024 Results
- FY 2024 Outlook
- Annexes
Highlights 1Q24 - Executive Summary
Improvement of
economic performance
Group financial
structure continues to
strengthen
Ongoing
development
focused on the core
business
- Revenue growth by 3.8% vs 1Q23, +1.5% LFL
- Adj. EBITDA growth by 9.3% vs 1Q23
- Rep. EBITDA growth by 22.7% vs 1Q23
Solid cash generation of the business:
Ordinary Cash Flow LTM €69 mn
NFP down by 7% yoy at -205.5 € mn confirming the Group capacity to self-financethe M&A activity and to remunerate Shareholders
Acquisitions finalized:
- 51% of Star Shop (consolidated from 02/01): replication in the comics segment of the vertically-integrated business model with which the Mondadori Group already operates in the book segment
- 51% of Bookrepublic Webnovels: exploration of innovative ways of reading and entertainment
- 100% of Chelsea Green Publishing (consolidated from 05/01): strengthening of international presence in English-speaking markets
Q1
Q2
3
Trade Book Market - update 1Q 2024
Value data - Sell out
(€ mn)
Despite the difficult comparison with 1Q of last year:
3 books in the Top 5
-3.8% | -2.2% net |
of «Spare» |
Market
1 2 4
Market share | 2024 | 2023 |
Mondadori Group | 27.2% | 27.4% |
+1.8% net of «Spare»
Source: GfK, YTD March 2024 (Week 13) | 4 |
Trade Book Market - YTD 2024
Value data - Sell out
(€ mn)
-1.0%
-3.8% +7.7%
+0.3% net of «Spare»
Market
1Q | APR/MAY | YTD | ||||
2024 | 2023 | 2024 | 2023 | 2024 | 2023 | |
-4.7% | +10.0% | -1.2% | +4.1% net | |||
of «Spare» |
Source: GfK, YTD March 2024 (Week 18) | 5 |
AGENDA
- 1Q 2024 Highlights
- 1Q 2024 Results
- FY 2024 Outlook
- Annexes
Highlights - 1Q 24
- mn
Revenue
+3.8%
166.1 | 160.0 |
1Q 24 | 1Q 23 |
Adjusted EBITDA
+9.3%
4.8 | 4.4 |
1Q 24 | 1Q 23 |
Reported EBITDA
+22.7% | |
5.7 | 4.7 |
1Q 24 | 1Q 23 |
EBIT
-0.5 € mn
-8.7 | -8.2 |
Net Result
-1.9 € mn
-7.1 | -5.2 |
1Q 24 | 1Q 23 | 1Q 24 | 1Q 23 | 7 |
Revenue by Business Area - 1Q 24
€ mn
All core business areas growing
+3.8%
(+1.5% LFL)
+3.6 +0.7 +3.8 +2.7
-3.0-1.7
- 1.6 mn Star Shop
- 2.2 mn Star Shop
1Q 2023 | Trade | Education | Retail | Media | Media | Corporate | 1Q 2024 |
Books | Books | Digital | & Interc. |
8
Adjusted EBITDA by Business Area - 1Q 24
€ mn
+0.4 € mn
+1.6
+0.6
-2.0
Anticipation of new
textbooks production to
optimize adoption
campaign
+0.4
-0.1-0.1
1Q 2023 | Trade | Education | Retail | Media | Media | Corporate | 1Q 2024 |
Books | Books | Digital | & Interc. |
9
Net Result - 1Q 24
€ mn
1Q 2023 | 1Q 2024 | |
PPA - €0.5 mn | A.L.I. | |
revaluation | ||
-1.5 | €1.3 mn | |
-0.2 | -1.3 | -1.0 |
+1.1 | ||
+0.5 | ||
+0.5 | ||
Higher IFRS16 | ||
charges | ||
-0.8 | ||
EBITDA D&A Financials | Associates | Taxes Minorities |
10
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Disclaimer
Arnoldo Mondadori Editore S.p.A. published this content on 14 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 May 2024 12:08:29 UTC.
