Cliq Digital Ag · XETR:CLIQ
Cliq Digital — Q1 2023 Earnings Presentation
24 slides from Cliq Digital's earnings presentation, May 4, 2023
Slide 1: 1Q 2023 Results Presentation
1Q 2023 Results Presentation 4 May 2023
Slide 2: Vision and Mission
VISION MISSION At CLIQ Digital, we believe We bring simplicity to the streaming content should streaming market by creating all- be accessible to everyone. in-one streaming services that go beyond one content category. 2
Slide 3: Our Approach
OUR APPROACH LICENSING We license streaming content from partners across multiple categories, ranging from movies & series, music, audiobooks to sports and games. At CLIQ We sell subscription- BUNDLING based streaming services We store, bundle and curate digital content. that bundle movies & Within
Slide 4: Our Products
OUR PRODUCTS Flagship service Cliq Numerous streaming (cliq.de) services 4
Slide 5: Key Highlights (1/2)
1Q 2023 | KEY HIGHLIGHTS (1/2) Sales Marketing Spend €83m €33m +58% y/y +46% y/y Members Employees 1.2m 170 +11% y/y +13% y/y 5
Slide 6: Key Highlights (2/2)
1Q 2023 | KEY HIGHLIGHTS (2/2) Net Cash EBITDA Position €13m €11m +54% y/y EPS Operating Free Cash Flow €1.26 €1.4m +40% y/y 6
Slide 7: Market Expectations
1Q 2023 | MARKET EXPECTATIONS Median Analysts’ Actuals +/- in millions of € estimates Sales 67.7 82.9 24% Based on analysts’ Marketing spend -28.9 -32.9 14% estimates as at 24/04/2023 EBITDA 10.0 12.8 28% Profit for the period 6.7 8.2 23% EPS - basic (€) 1.03 1.26 22% 7
Slide 8: Operational Highlights
CLI DIGITAL Operational Highlights
Slide 9: Our Numerous Streaming Services
Our Numerous Streaming Services Core of our unique business model and distinguishing feature from competitors (streaming providers & online advertisers) In a nutshell: • Unique bundled streaming service proposition • Use of multiple categorised marketing URLs for online advertising • Profitable gros
Slide 10: What makes CLIQ as a Company Different?
What makes CLIQ as a Company Different? Service offering 1) Bundled streaming service proposition vs. single- content category 2) In-house online advertising experts vs. outsourced 3) Only licensed content vs. own production of content 4) Numerous streaming services vs. one streaming service KPI to
Slide 11: 1Q 2023 Highlights
1Q 2023 | HIGHLIGHTS Content Upgrades cliq.de German Brand Award 2023 >50 new Hollywood movies Mainstream TV and Cliq’s product and brand ATP World Tour 250 online commercials launch nominated for: tournaments DOOH advertising “Excellence in >1,000 hours of movies media in Frankfurt am B
Slide 12: Slide 12
Slide 13: cliq.de | Flagship Service
cliq.de | Flagship Service We entered the German market in December 2022 with our flagship service Cliq, creating brand awareness with TV spots and DOOH advertising. Our aim is to: • Generate 500 million impressions by the end of 2Q 2023 • Reach 65% of all Germans aged between 18-64 by the end of 2Q
Slide 14: Financial Highlights
CLI DIGITAL Financial Highlights
Slide 15: Sales Breakdowns (in % of Total Sales)
1Q 2023 | SALES BREAKDOWNS (IN % OF TOTAL SALES) BY SERVICE BY REGION Bundled content €83m North America €83m Single-content 7% Europe 3% 4% Ad-funded Digital Latin America Marketing Services* Rest of world €53m 40% €53m 5% 6% 13% 93% 40% 82% 53% 54% 1Q22 1Q23 1Q23 1Q22 1Q23 1Q23 *Following a strate
Slide 16: Income Statement
1Q 2023 | INCOME STATEMENT in millions of € 1Q 2023 1Q 2022 Δ Sales 82.9 52.6 58% Cost of sales -61.3 -37.8 62% Operating expenses -8.8 -6.5 35% EBITDA 12.8 8.3 54% margin 15.4% 15.8% Depreciation & amortisation -0.9 -0.3 184% EBIT 11.9 8.0 49% Financial results -0.5 -0.2 89% Income taxes -3.2 -1.9
Slide 17: Growth Story
GROWTH STORY in millions of € Marketing spend Sales EBITDA % EBITDA margin >345 276 150 >120 107 112 83 63 54 >50 34 27 44 33 22 6 16 1Q23 13 FY2019 FY2020 FY2021 FY2022 FY2023e FY2023e 9% 15% 18% 16% >15% EPS: €0.36 €1.16 €2.74 €4.47 €1.26 (1Q23) 17
Slide 18: More Marketing, More Members, More Sales
1Q 2023 | MORE MARKETING, MORE MEMBERS, MORE SALES Marketing spend Lifetime Value of Customer Base 6M-Profitability Index Number of members x Remaining lifetime value per member Customer Base (number of members) €33m €147m €23m €104m €51m €9m €43m €8m €37m €5m 1.34x 1.61x 1.56x 1.48x 1.1m 1.2m 1.28x
Slide 19: Marketing Costs
1Q 2023 | MARKETING COSTS Higher marketing costs 1Q 2023 1Q 2022 Δ reflected an increased in millions of € advertising volume, more Marketing spend 32.9 22.5 46% competitive pricing environment as well as Capitalised marketing spend -32.4 -20.7 57% testing new countries and (contract costs) advert
Slide 20: Cash Conversion
1Q 2023 | CASH CONVERSION Cash flow from operating activities grew due mainly to in millions of € 1Q 2023 1Q 2022 the higher revenues after the EBITDA 12.8 8.3 deductions of the third-party costs and other payment ∆ Contract costs -3.5 -5.5 service costs ∆ Other working capital -5.4 -0.1 Taxes, fi
Slide 21: Balance Sheet
1Q 2023 | BALANCE SHEET ASSETS in millions of € 31/03/2023 31/12/2022 EQUITY & LIABILITIES 31/03/2023 31/12/2022 Goodwill 47.5 47.4 Equity 89.7 81.3 (In)tangible & financial assets 16.3 15.3 Deferred tax liabilities 11.4 10.5 Contract costs 43.0 39.6 Bank borrowings - 6.6 Deferred tax assets 1.1 1.6
Slide 22: Outlook 2023
OUTLOOK | 2023 Main organic growth drivers Internal: Increased marketing spend 2019 2020 2021 2022 2023e o Broaden targeting options on in millions of € existing advertising platforms Sales 63 107 150 276 >345 o New advertising platforms, Marketing spend 22 34 54 112 >120 media sources and exchang
Slide 23: Disclaimer
DISCLAIMER This presentation is for information purposes only and does not constitutes a public offer to buy or sell or a public call for the purchase or sale of CLIQ Digital AG securities. Neither this presentation nor any other content of this presentation constitute the basis for the conclusion o
Slide 24: 1Q 2023 Results Presentation
1Q 2023 Results Presentation 4 May 2023