ARNOLDO MONDADORI EDITORE S.P.A. FY23 Results
Investor Presentation
Antonio Porro - CEO
Alessandro Franzosi - CFO
STAR Conference
Milan, 19 March 2024
Mondadori Group in a nutshell
Area | 2023 Revenue % | |
€ mn | ||
64% | ||
> 85% | ||
Books | 21% | |
6.2% Digital | 15% |
8.6% Print |
Revenue
611.8
576.2
2023 2022
199.5 189.2
2023 2022
141.0 177.8
2023 2022
2023 Adj. EBITDA %
81%
90% | EBITDA Margin = 20.7% |
> | |
Books | 9% |
EBITDA Margin = 7.0% | |
6.8% Digital | 10% |
3.6% Print |
EBITDA Margin = 11.6%
Adj. EBITDA
126.9
118.5
2023 2022
14.0
9.1
2023 2022
16.4
14.1
2023 2022
MEDIA | 904.7 | 903,0 | MEDIA | 152.1 | |||
15% | 10% | 136.3 | |||||
LIBRI | BOOKS | ||||||
RETAIL | |||||||
RETAIL | 64% | 81% | |||||
9% | |||||||
21% | |||||||
2023 | 2022 | EBITDA Margin = 16,8% | 2023 | 20222 |
Mondadori Group in a nutshell - Our positioning
BOOKS
Market Shares %
Trade
27.6 Leader
Education
Leader
32.0
Retail
First bookshops
network
(2023)
489
534
MEDIA
Multimedia
publisher, leader
in Italy
Digital: 7% of editorial rev.
Areas
Leadership
13
TITLES
9 brands
45
Franchising | DOS | Tot. Stores |
Digital
12
DIGITAL
BRANDS
+110 Social Accounts
+100 Mn Fanbase
3
AGENDA
- FY 2023 Highlights
- FY 2023 Results
- FY 2023 Business Areas
- FY 2024 Outlook
FY23 - Corporate Highlights
Another year of profitable growth and
core business development
5
The Group strategic repositioning …
An almost pure book player
REVENUES ADJ. EBITDA
MEDIA
BOOKS
&
RETAIL
DIGITAL | 6% | 6% |
9% | 4% | |
85% 90%
which contributes to 90% of Group's margin
6
- has allowed the relevant profitability increase
- mn
EBITDAAdj. | 152.1 | 136.3 | 110.4 | ||
105.7 | |||||
98.1 | |||||
2023 | 2022 | 2021 | 2020 | 2019 |
Adj.Net | Profit | 70.8 | 63.9 | |||
42.4 | 34.1 | |||||
21.9 | ||||||
+38% vs 2019
Doubled vs
2019
7
Highlights - FY23
- mn
Revenue | |
+0.2% | |
904.7 | 903.0 |
FY 23 | FY 22 |
Adjusted EBITDA | EBIT |
+11.5% | +15.8% | ||
152.1 | |||
136.3 | 84.2 | 72.7 | |
FY 23 | FY 22 | FY 23 | FY 22 |
Net Result | Ordinary Cash Flow |
+19.9% | +15.1% |
62.452.1
FY 23 | FY 22 |
68.7 | 59.7 |
FY 23 | FY 22 |
8 |
Highlights FY23 - Results vs Guidance
Group results beat expectations
REVENUE
Adj. EBITDA
Net Result
Ord. Cash Flow
NFP/Adj. EBITDA IFRS16
GOALS
Low single-digit growth
High single/low double-
digit growth
(margin 16-17%)
+20%
Up to +15%
(€ 65-70 mn)
= 1.0x
RESULTS
+0.2% (1.1% LFL)
+11.5%
(margin 16.8%)
+20%
+15% (€ 68.7 mn)
= 1.0x
9
AGENDA
- FY 2023 Highlights
- FY 2023 Results
Highlights
Cash flow & NFP ESG
- FY 2023 Business Areas
- FY 2024 Outlook
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Disclaimer
Arnoldo Mondadori Editore S.p.A. published this content on 18 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 March 2024 16:23:01 UTC.
