Cliq Digital Ag · XETR:CLIQ
Cliq Digital — Q3 2024 Earnings Presentation
22 slides from Cliq Digital's earnings presentation, Nov 7, 2024
Slide 1: 3Q / 9M 2024 results presentation
3Q / 9M 2024 results presentation 7 November 2024
Slide 2: Disclaimer
Disclaimer This presentation is for information purposes only and does not constitute 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 of
Slide 3: 3Q 2024 | at a glance, q/q
3Q 2024 | at a glance, q/q Sales▼ Operating free cash flow▲ Key metrics 11% in millions of € in millions of € EBITDA margin*▲ 68 3 54 €0.45 EPS* = 0 2Q 2024 3Q 2024 2Q 2024 3Q 2024 Net cash position▲ 144 EBITDA*▲ in millions of € in millions of € Workforce▼ 6 9 6 €72 7 LTV▼ 2Q 2024 3Q 2024 30/06/202
Slide 4: Operations
Dua Lipa Live atGlastonbury Operations CLIC
Slide 5: Strategy | the CLIQ way forward
Strategy | the CLIQ way forward With the help of a dedicated, action-driven plan, we will bring CLIQ’s growth back on track. ACTION sales • increase outreach with an omnichannel channels marketing approach (“Magnificent Seven”) • improve customer acquisition via better content hookups and more effec
Slide 6: Fit For Future | update
Fit For Future | update Austerity measures included • target CPA lowered Cost • full-scale strategic review of human resources efficiencies • reduction of external service providers • merging tech systems • SG&A expenses scrutinised & adjusted Catalysing growth potential by Productivity • new sales
Slide 7: Content | update
Content | update • New North American licensing deal for 50+ box office hits and classic movies (SVOD & AVOD) • Renewal and extension of worldwide licensing deal for action sports, nature and lifestyle documentaries & series (SVOD & AVOD) 7
Slide 8: Financials
Financials CLIC
Slide 9: 3Q 2024 | EBITDA margin expansion despite sales decline
3Q 2024 | EBITDA margin expansion despite sales decline in millions of € % 7% 8% 11% EBITDA Margin* 73 +12% 68 54 29 24 10 5 6 6 1Q 2024 2Q 2024 3Q 2024 Customer acquisition costs Sales EBITDA* *before special items 99 9
Slide 10: 3Q 2024 | sales breakdowns (in % of total sales)
3Q 2024 | sales breakdowns (in % of total sales) By service By region -29% €83m €83m €77m €77m €54m 64% €54m 58% 88% 95% 71% 97% 35% 30% 21% 3Q 2022 3Q 2023 3Q 2024 3Q 2022 3Q 2023 3Q 2024 Bundled-content Single-content Ad-funded digital marketing services* North America Europe Latin America ROW • 0
Slide 11: 3Q 2024 | income statement
3Q 2024 | income statement % 3Q 2024* 2Q 2024* Δ in millions of € Sales 53.9 68.2 -21% • stronger focus on Cost of sales (ex CAC for the period) -22.3 -28.2 profitability than CAC for the period -20.6 -27.7 sales growth Operating expenses -5.4 -6.7 • customer EBITDA 5.7 5.6 +2% acquisition costs mar
Slide 12: 3Q 2024 | customer acquisition costs
3Q 2024 | customer acquisition costs 3Q 2Q in millions of € 2024 2024 D Total customer acquisition costs -9.9 -24.5 -60% of which capitalised and amortised in the period: Capitalised customer acquisition costs (contract costs) 9.9 24.4 Amortised contract costs -20.6 -27.6 Customer acquisition costs
Slide 13: 3Q 2024 | "Fit for Future" cost savings
3Q 2024 | ”Fit for Future” cost savings 3Q 2Q 1Q in millions of € 2024 2024 2024 Personnel expenses* 3.9 4.8 5.6 Other operating expenses* 1.7 2.0 2.2 Impairment losses & gains on current assets 0.2 0.1 -0.4 Operating expenses 5.4 6.7 8.2 Between 1Q and 3Q 2024: • personnel expenses dropped by 31% •
Slide 14: 3Q 2024 | cash conversion & cash position
3Q 2024 | cash conversion & cash position in millions of € 3Q 2024 2Q 2024 EBITDA 5.7* 5.6* • cash in from Special items -3.0 -2.6 operating activities ∆ Contract costs 10.7 3.2 was up by €3.1m ∆ Other working capital -2.1 -6.3 quarter-on-quarter Taxes, financial result & others -7.5 1.0 also due to
Slide 15: 9M 2024 | share buyback programme almost completed
9M 2024 | share buyback programme almost completed max. 646,871 boosting from 28/02/2024 until 30/09/2024: treasury shareholder • 507,245 shares repurchased shares value • 78% of maximum programme amount & increasing EPS • €9.40 average purchase price • €4.8m invested from 01/10/2024 until 01/11/202
Slide 16: Share buyback programme | monthly breakdown
Share buyback programme | monthly breakdown 28 February – 1 November 2024 €17.74 €17.41 €120,000 €18 110,452 109,182 €110,000 €14.97 €16 €100,000 €90,000 €14 82,679 €80,000 €9.55 €12 €70,000 67,287 60,682 €10 €60,000 €7.30 €8 €50,000 €6.42 €6.79 €6.64 €6.21 39,478 €5.49 €40,000 33,367 32,570 €6 €30,
Slide 17: 30/09/2024 | balance sheet
30/09/2024 | balance sheet ASSETS in millions of € 30/09/2024 31/12/2023 EQUITY & LIABILITIES 30/09/2024 31/12/2023 Goodwill 47.5 47.5 Equity 100.4 103.1 (In)tangible & financial assets 15.8 18.1 Deferred tax liabilities 10.2 14.3 Contract costs Bank borrowings - - 33.3 49.2 Deferred tax assets Othe
Slide 18: LTVCB | expected sales from existing customers
LTVCB | expected sales from existing customers €164m €159m €136m €128m €97m +€64m €48m €49m €47m €44m €33m 30/09/2023 31/12/2023 31/03/2024 30/06/2024 30/09/2024 Contract costs Lifetime Value of Customer Base (LTVCB) 18 18
Slide 19: Outlook
Outlook CLIC
Slide 20: Outlook
Outlook % mid-term 326 ~325 outlook: +31% CAGR in millions of € 260-280 achieve a run rate 276 in 4Q 2026 to realise an annual revenue of 150 more than 135 107 112 80-100 €400 million 63 going forward 54 50 44 34 27 22 16 10-20 6 2019 2020 2021 2022 2023 2024f 2025e Customer acquisition costs Sales
Slide 21: Q&A
Q&A Luc Voncken Ben Bos CEO Member of the Management Board
Slide 22: Slide 22