ARNOLDO MONDADORI EDITORE S.P.A. 1H2022 Results
Investors Presentation
Antonio Porro - CEO Alessandro Franzosi - CFO
July 28th 2022
AGENDA
- 1H 2022 Highlights
- 1H 2022 Results
- FY 2022 Outlook
- Annexes/1H 2022 Business Areas
Disclaimer
In the first half 2022, for the purposes of greater comparability with the first quarter 2021, in column "1H 2022 LFL",
the reclassified Income Statement and Balance Sheet report the income and financial figures at 30 June 2022 on a
like-for-likebasis, thus excluding D Scuola (fully consolidated economically as from 1 January 2022 and financially as from 31 December 2021).
The contribution of D Scuola in the first half can be considered not material due to the seasonality of the Education business which, in the first half of the year, records only the costs of creating editorial content as well as the expense from the promotional activities to support the adoption campaign, postponing the recognition of revenue from the sale of school textbooks to the second half of the year.
Under IFRS 5, at 30 June 2022 and for the sake of correct comparison also at 30 June 2021, the balance sheet amounts referring to Press-di Distribuzione Stampa Multimedia S.r.l., the 51% sale of which has been closed on July 7th, are reported under "Assets (Liabilities) disposed of or being disposed of".
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1H 22 Highlights - Executive Summary
Group results improvement
Group financial
structure continues to
strengthen
Strategic portfolio
review ongoing
Revenue and EBITDA grow across all business areas
- Revenue increase: +7.9% in 2Q22; +5.7% in 1H22
- Adj. EBITDA increase: +5.5 € mn in 2Q22; +6.9 € mn in 1H22
LFL
Solid cash generation of the business
- Ordinary Cash Flow LTM above €70 mn
- Free Cash Flow LTM at €42 mn (incl. M&A)
- Development of book publishing activities - 51% of Edizioni Star Comics acquisition
- Gradual reduction in its exposure to the magazines segment - 51% of Press-disale (active in the national distribution of newspapers and magazines)
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1H22 Highlights - Quarterly EBITDA Adj. trend
- mn
Yoy Var. 22-21 | +1.3 €mn |
+5.5 € mn |
LFL | 1Q | 2Q | ||||||
26.0 | 20.4 | 20.1 | ||||||
14.0 | ||||||||
2.4 | 1.1 | 1.7 | ||||||
-3.1 | ||||||||
2022 | 2021 | 2020 | 2019 | 2022 | 2021 | 2020 | 2019 | |
EBITDA | 13.7% | 11.6% | 9.1% | 9.4% | ||||
margin
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Arnoldo Mondadori Editore S.p.A. published this content on 28 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2022 12:36:04 UTC.
