Cliq Digital Ag · XETR:CLIQ
Cliq Digital — Q3 2022 Earnings Presentation
15 slides from Cliq Digital's earnings presentation, Nov 3, 2022
Slide 1: 3Q/9M 2022 Results Presentation
3Q/9M 2022 RESULTS PRESENTATION 3 November 2022
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 2022 | Key Highlights (1/2)
3Q 2022 | KEY HIGHLIGHTS (1/2) Operating Sales EBITDA free cash flow €8m €77m €12m +76% y/y +91% y/y +68% y/y 3
Slide 4: 3Q/9M 2022 | Key Highlights (2/2)
3Q/9M 2022 | KEY HIGHLIGHTS (2/2) Marketing EPS Subscribers spend €30m €3.30 1.8m 3Q 2022 9M 2022 per 30/09/2022 +120% y/y +89% y/y +50% y/y 4
Slide 5: 3Q 2022 | Market Expectations
3Q 2022 | MARKET EXPECTATIONS Median analysts’ estimates Actuals Upside Sales €68.0m €76.5m 12.5% EBITDA €10.1m €12.4m 23.4% Based on 6 analysts’ estimates as at 19.10.2022 5
Slide 6: 3Q 2022 | Sales Breakdowns in % of Total Sales
3Q 2022 | SALES BREAKDOWNS IN % OF TOTAL SALES BY SERVICE BY REGION MULTI-CONTENT NORTH AMERICA SINGLE-CONTENT EUROPE AD-FUNDED DIGITAL €77m €77m REST OF WORLD MARKETING SERVICES 3% 7% 9% 35% €40m €40m 8% 9% 18% 88% 41% 58% 74% 50% 3Q 2021 3Q 2022 3Q 2022 3Q 2021 3Q 2022 3Q 2022 6
Slide 7: 3Q/9M 2022 | Income Statement
3Q/9M 22 | INCOME STATEMENT in millions of € 3Q 2022 3Q 2021 Δ 9M 2022 9M 2021 Δ Sales 76.5 40.0 91% 193.3 103.2 87% Cost of sales -55.3 -26.2 -138.9 -66.8 Operating expenses -8.8 -6.3 -23.7 -17.4 EBITDA 12.4 7.4 68% 30.8 19.0 62% margin 16% 19% 16% 18% Depreciation & amortisation -0.4 -0.4 -1.0 -0.
Slide 8: Growth Story
GROWTH STORY in millions of € Marketing spend Sales EBITDA % EBITDA margin 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 77 64 53 47 40 33 30 30 30 30 30 27 23 20 20 17 18 14 15 14 9 12 9 10 8 7 8 5 5 6 1 1 2 2 2 4 5 5 5 6 7 8 8 10 12 8% 10% 11% 11% 11% 15
Slide 9: 3Q 2022 | More Marketing, More Subs, More Sales
3Q 2022 | MORE MARKETING, MORE SUBS, MORE SALES Marketing spend Lifetime Value of Customer Base 6M-Profitability Index Number of subscribers x Remaining lifetime value per subscriber Customer Base (number of paid subscriptions) €131m €121m €29.6m €30.4m €104m €87m €22.5m €19.5m €68m €13.8m 1.63x 1.5
Slide 10: 3Q/9M 2022 | Marketing Costs
3Q/9M 22 | MARKETING COSTS in millions of € 3Q 2022 3Q 2021 Δ 9M 2022 9M 2021 Δ Marketing spend 30.4 13.8 120% 82.5 34.8 137% Capitalised marketing spend -29.2 -11.5 -77.6 -29.9 (contract costs) Amortised contract costs 23.5 9.5 56.7 24.9 Marketing costs 24.7 11.8 110% 61.6 29.9 106% in % of total s
Slide 11: 3Q/9M 2022 | Cash Conversion
3Q/9M 22 | CASH CONVERSION in millions of € 3Q 2022 3Q 2021 9M 2022 9M 2021 EBITDA 12.4 7.4 30.8 19.0 ∆ Contract costs -5.7 -2.1 -20.9 -5.0 ∆ Other working capital 3.3 3.5 5.1 2.9 Taxes, financial result & others -0.3 0.1 -1.8 -3.8 Cash flow from operating activities 9.7 6.0 13.2 13.1 Cash flow from
Slide 12: Balance Sheet
BALANCE SHEET ASSETS in millions of € 30/09/2022 31/12/2021 EQUITY & LIABILITIES 30/09/2022 31/12/2021 Goodwill 47.5 48.2 Equity 73.9 59.6 (In)tangible & financial assets 13.7 7.9 Deferred tax liabilities 9.7 4.1 Contract costs 38.0 17.1 Bank borrowings 7.7 5.0 Deferred tax assets 1.8 2.6 Other fina
Slide 13: Outlook
OUTLOOK in millions of € 2019 2020 2021 2022e 9M 2022 Sales 63 107 150 >250 193 Marketing spend 22 34 54 >90 83 EBITDA 6 16 27 >38 31 Paid subscriptions (in millions per end of the period) 0.6 0.9 1.3 >2.0 1.8 Lifetime Value of Customer Base (per end of the period) 39 50 87 >110 131 Profitability In
Slide 14: Q&A
Q&A To ask a question, please click on the "Raise Hand" icon in the toolbar at the bottom of your Zoom screen Ben Bos Member of the Management Board
Slide 15: Investor Information
INVESTOR RELATIONS | 2022/23 FINANCIAL CALENDAR Sebastian McCoskrie INVESTMENT CONFERENCES 2022 Head of Investor Relations 16 Nov CF&B Madrid Midcap Event +49 151 520 436 59 29-30 Nov Deutsches Eigenkapitalforum 2022 [email protected] 1-2 Dec CF&B Geneva Midcap Event Julián Palacios Invest