Roularta Media N : Presentatie halfjaarresultaten 2022

Results 1H 2022

Brussels, 19 August 2022

Results 1H 2022 The definition of the APM EBITDA changed slightly

• RMG changed the APM (Alternative Performance Measure under IFRS) EBITDA under IFRS in line with a general accepted definition, used by many corporates
• RMG changed the APM EBITDA to better align with business reality

By including 1) the write-down on inventories & debtors and 2) provisions within EBITDA, the booking on these 2 items will remain at the same APM level when the expense is actually occurring. In the past, this was at EBIT. Example: when setting up a provision in the past in year 1 for a bad debt, it impacted EBIT and not EBITDA. When the client went bankrupt eg. in year 3, EBITDA was impacted in year 3, but not EBIT (due to reversal of the provision).

Restatement of 1H21 figures:

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Key facts 1H22

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1H22 KEY FACTS

• Sales in 1H of € 169,7m, i.e. € 28,0 m better than last year
• • € 13,3m net sales are coming in 1H from the acquired businesses New Skool Media & 50+Beurs
  • Mind that the ex-JV's were acquired in 2Q21, so the sales on Télépro, Plus Magazine (NL+DE), Frau im Leben, G-Geschichte etc were not yet included in 1Q21 actuals. Impact on 1H22 sales is € 6,7m.
  • Excluding M&A, sales increased by € 7,9 m: advertising revenue remains stable compared to last year, printing increases by 29,6%, other sales grow by 33%. The subscriptions show a small decline of -2,2%, newsstand sales decrease by 3,6%
• EBITDA in 1H of € 17,8m (€ -4,3 m YoY)
• • Exceptional gain last year on the acquisition of ex-JV's of € 5,8m - this year a similar limited gain of € 0,8m on the acquisition of 50+Beurs & Festival. When adjusting for these items, EBITDA for 1H22 results at € 17,0m vs. € 16,3m in 1H21 or an increase of € 0,7m
  • Pre-covid1H19 EBITDA of € 10,4m (according to new definition). Current EBITDA 1H22 correcting for one-off effect is € 6,6m higher or +63,8%
  • All time high paper prices and energy costs
  • Strict cost control
  • The acquisitions bring in immediately positive results

 The companyis making less use of the temporary unemployment system (1,0m less saving in 1H22 vs. 1H21)

1H22 KEY FACTS

• Mediafin's subscriptions increased YoY with 6% (or € 1,0m). Also advertising revenue remains strong in 1H22 with a YoY growth of 16% or € 2,6m. Mediafin has a € 10,1m stand-alone EBITDA (IFRS) and a € 4,4 m net result (100%), after amortizations of the brands De Tijd/L'Echo. A 50% net result of € 2,2m is accounted for in Roularta's ebitda.
• Mediafin acquired two entitities in 2Q22:
• • Luxury Leads BV
  • • Business : luxury real estate, boats and cars in luxury magazines and online platforms - accelerator for Sabato
    • Closing 21 April 2022 of share deal (100% of the shares)
    • € 2,4m temporarily allocated to goodwill (PPA exercise to be performed)
    • Is consolidated with equity method (just like Mediafin)
    • Merged with Mediafin NV on 1 July 2022
  • Pulsar-ITBV (OpenTheBox)
  • • Business : dataplatform OpenTheBox gathers public information on companies and its directors (spiderweb)
    • Closing 25 May 2022 of share deal (90% of the shares)
    • € 0,7m temporarily allocated to goodwill (PPA exercise to be performed)
    • Is consolidated with equity method (just like Mediafin)

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