Viaplay 22Q2

Viaplay 22Q2:

• 1.515m int subs (o/w >50% in NL)
• Targets 2022:
• Raises YE 2022 subs target from 7.0 to 7.3m
• To premiere >70 originals in 2022
• Organic revenue growth >=28% (Nordics 20%)
• Viaplay subs YE 2022 7.3m (Nordics 4.8m, Int 2.5m)
• EBIT Nordics stable to slightly lower, EBIT Int loss SEK 1.35b
• Delta WC negative SEK 3.2b

• Targets 2020-25:
• Organic revenue growth CAGR 18-20% (Nordics 13-15%, Viaplay Nordics 23-25%)
• Total Viaplay subs YE 2025 12m (6m Nordics, 6m int)
• EBIT margin Nordics 15% in 2025, LT 20%, EBIT Int positive over 2025, 15% margin over 2026, LT 25%
• Leverage policy: <2.5x (net debt / EBITDA AL)
• Acquires Premier Sports
• GBP 30m
• UK, 23 employees, 2 pay-TV channels, 1 FTA channel, 1 streamer Premier Player\
• Total 222k paying subs, charges 15 GBP/mo
• Distr deals with Sky, Virgin, Amazon, Netgem
• 2021 rev GBP 26.4m (+33%), target profitable in 2022
• To close Sep 2022 [see 220713]