In This Article:
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Consolidated Revenue: EUR2.4 billion, a year-on-year increase of 3%.
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Advertising Revenue: Up 2% in the Media segment; TF1+ advertising revenue grew by almost 40%.
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Net Cash: EUR506 million, stable year-on-year.
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COPA (Operating Profit Before Amortization): EUR297 million, up EUR9 million year-on-year.
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Margin from Activities: 12.6%, slightly higher than 2023 by 0.1 points.
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Net Profit: EUR206 million, up EUR14 million year-on-year.
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Free Cash Flow Before Working Capital: EUR229 million in 2024 versus EUR177 million last year.
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Dividend Proposal: EUR0.60 per share, up 9% from 2024.
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Newen Studio Revenue: Increased by 5% in 2024.
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Q4 Revenue: EUR765 million, a year-on-year increase of 2%.
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Q4 Newen Studio Revenue: Rose by 16% to EUR153 million.
Release Date: February 13, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Television Francaise 1 SA maintained its leadership in audience shares among key demographics, including women under 50 and individuals aged 25-49.
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The group's consolidated revenue increased by 2.6%, driven by growth in both media and studios.
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Advertising revenue from TF1+ grew by almost 40%, highlighting the platform's appeal to advertisers.
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The company maintained a strong financial position with a net cash of EUR506 million, stable year-on-year.
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Newen Studios experienced a 5% increase in revenue and returned to a double-digit margin, benefiting from synergies with the media segment.
Negative Points
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Advertising revenue in the Media segment was down 2% in Q4, despite outperforming the market.
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The linear advertising market faced challenges due to competition from the Olympic Games and a weaker-than-expected market in the last two months of the year.
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The group faced increased programming costs and investments in TF1+, impacting margins.
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The tax increases in France are expected to have a financial impact of EUR20 million to EUR25 million.
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The international expansion of TF1+ is expected to provide only modest growth in 2025.
Q & A Highlights
Q: Can you provide insights on the advertising outlook for 2025, especially in light of your competitor's bullish stance on potential revenue gains? A: Rodolphe Belmer, CEO, stated that while the advertising market lacks visibility, TF1+ is expected to maintain strong momentum with double-digit growth. The first two months of 2025 have met expectations, and annual engagements with customers, which represent 70% of annual advertising revenue, are progressing well, aligning with their objectives.