2023년 예비 결과 감사
S4캐피탈 PLC
("S4자본" 또는 "회사' 또는 '그룹')
2023년 예비 결과 감사
Full year results in line with revised expectations
순수익2 down 2.1% on a reported basis, down 4.5% like-for-like3
운영 EBITDA5 £93.7 million down 24.6% on a reported basis, down 36.6% like-for-like, excluding the one-off benefit of £9.3 million from the significant devaluation of the Argentinian Peso
Operational EBITDA margin in line with revised targets at 10.7%, improved performance in second half due to cost reductions
순 부채7 at £180.8 million at the lower end of targeted range of £180 million to £220 million
First share buyback programme completed in March 2024
Challenging macroeconomic conditions and client caution likely to persist, despite the prospect of lower interest rates
Major client relationships remain resilient with Top 10, 20 and 50 performing better than average
2024 target like-for-like net revenue expected to be down on the prior year with a broadly similar overall level of operational EBITDA9
Jean-Benoit Berty appointed Chief Operating Officer, Board membership simplified and Executive Committee strengthened to improve performance
£백만 | 연말 31 12 월 2023 | 연말 31 12 월 20228 | 변경 보고됨 | 이전 단계로 돌아가기 | 이전 단계로 돌아가기 | ||
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빌링스1 | 1,870.5 | 1,890.5 | (1.1의 %) | (1.4의 %) | (1.4의 %) | ||
수익 | 1,011.5 | 1,069.5 | (5.4의 %) | (7.8의 %) | (7.8의 %) | ||
순수익2 | 873.2 | 891.7 | (2.1의 %) | (4.5의 %) | (4.5의 %) | ||
운영 EBITDA5 | 93.7 | 124.2 | (24.6의 %) | (36.6의 %) | (36.7의 %) | ||
운영 EBITDA 마진5 | 10.7% | 13.9% | (320bps) | (550bps) | (540bps) | ||
조정 된 영업 이익6 | 82.0 | 114.1 | (28.1의 %) | ||||
조정 항목6 | (61.8) | (249.4) | 75.2% | ||||
영업이익/(손실) | 20.2 | (135.3) | 114.9% | ||||
연간 손실 | (6.0) | (160.5) | 96.3% | ||||
주당 기본 손실 (펜스) | (0.9) | (27.2) | 26.3 | ||||
조정된 기본 주당 순이익6 (펜스) | 5.7 | 11.4 | (5.7) | ||||
승려의 수 | 7,707 | 8,891 | |||||
순 부채7 | (180.8) | (110.2) |
재무 하이라이트
¤ Billings £1,870.5 million, down 1.1% on a reported basis and down 1.4% like-for-like.
¤ Revenue £1,011.5 million, down 5.4% reported and down 7.8% like-for-like.
¤ Net revenue £873.2 million, down 2.1% reported and down 4.5% like-for-like, primarily reflecting challenging macroeconomic conditions compared to 2022. It also reflected cautious spending from clients, particularly those in the technology sector and by smaller client relationships and regional and local clients, along with a difficult year for new business and lower seasonal uplift in the fourth quarter. However, two-year and three-year net revenue stacks (like-for-like net revenue growth stacks for the last two and three years) are 21.4% and 65.1%.
¤ Operational EBITDA in line with revised expectations at £93.7 million, down 24.6% reported and down 36.6% like-for-like. This was primarily due to lower revenue, with costs tightly controlled and headcount down 13% versus December 2022. In December 2023, the Argentinian Peso significantly devalued by over 50%, and operational EBITDA excludes this one-off benefit of £9.3 million which is included in adjusted items. Had this item been included, operational EBITDA would have been £103.0 million.
¤ Operating profit £20.2 million, an improvement of £155.5 million on the prior year, primarily due to lower combination related payments.
¤ Basic loss per share of 0.9p, compared to 27.2p basic loss per share in 2022.
? Adjusted basic earnings per share, which excludes adjusting items after tax, of 5.7p per share, compared to 11.4p per share last year.
¤ Net debt ended the year at £180.8 million, or 1.9x net debt/pro-forma4 운영 EBITDA5 of £93.3 million. Net debt was at the lower end of the £180 million to £220 million target range, reflecting tight cost control and lower combination payments. Combination payments relating to prior years' merger activity have largely been completed, with the majority of the balance of £11.4 million settled in the first quarter of 2024.
¤ The balance sheet has sufficient liquidity and long-dated debt maturities to facilitate growth, with the maturity of the ?375 million term loan in August 2028 and the currently undrawn £100 million RCF in August 2026, we have comfortable headroom against the key covenant - that net debt will not exceed 4.5x the pro-forma operational EBITDA10.
¤ Following the recently completed share buyback of 1% of the Company's share capital earlier this month, the Board will consider paying an inaugural dividend following this year's half-year results, if further operational progress has been made. Our focus remains on using free cash flow to reduce debt, buyback shares and dividends.
전략 및 운영 하이라이트
¤ After four years of very strong growth (like-for-like net revenue growth of 44.0% in 2019, 19.4% in 2020, 43.7% in 2021 and 25.9% in 2022), 2023 was a difficult year with a like-for-like decline of 4.5% in net revenue. After growth in the first half of the year, the third and fourth quarters were more challenging. This reflects global macroeconomic conditions and client caution and fear of recession, a difficult year for new business and lower seasonal uplift than in previous years. We saw longer sales cycles, particularly for larger transformation projects and whilst all practices saw some impact, this was most evident in Content with some technology clients, a reduction in smaller project-based assignments and with local and regional clients. The final results for 2023 were in line with our revised targets.
¤ Our stated 'whopper' strategy of building broad scaled relationships with leading enterprise clients continues to drive our revenue. Revenues from our top clients are subject to the same global macroeconomic pressures, however, we saw better performance in our top 20 and top 50 clients. We closed 2023 with 10 'whoppers', that is clients delivering over $20 million of revenue per annum, the same number as in 2022 and against our target of 20.
¤ Profitability came under pressure due to lower revenue than budgeted and significant cost reductions were made to deliver an operational EBITDA margin of 10.7%, in line with revised targets. Margins improved in the second half as cost reductions took effect. While we have seen some salary and related benefits inflation, we continue to maintain a disciplined approach to cost management, including headcount and discretionary costs. These controls have resulted in 7,707 Monks at year end, down over 13% from 8,891 at the same time in 2022. The Group continues to manage costs tightly, given the current uncertain market outlook.
¤ The Content practice's net revenue was down 10.0% like-for-like and down 9.2% on a reported basis, with Data&Digital Media down 3.1% like-for-like and down 4.4% on a reported basis. Technology Services was up 21.6% like-for-like and up 48.6% on a reported basis. Content had a very challenging year and was particularly impacted in the second half by lower spending by certain technology clients, lower regional and local opportunities, a difficult year for new business and lower seasonal uplift. Data&Digital Media had modest growth in the first half, but declined in the second half, highlighting tougher end markets. Technology Services had good growth in the first half, but slowed significantly in the second half of the year due to longer sales cycles for transformation projects, phasing of work and a reduction in activity from some larger clients.
¤ Geographically, on a like-for-like basis, Americas net revenue was down 2.8% and now accounts for 79% of total net revenue, primarily reflecting the growth in Technology Services. EMEA, accounting for 15%, was down 10.9% due to the weaker macroeconomic environment and Asia Pacific, accounting for the remaining 6%, was down 9.2%, reflecting lower client demand.
¤ Growth rates in digital media and transformation markets remain above those of traditional, analogue markets. We are mainly focused on these two digital markets and are at the heart of developing trends around AI, Quantum Computing, the Metaverse and Blockchain for marketing. We are starting to see traction from our AI initiatives: clients are engaging us for workshops, audits and strategic advice and almost all our presentations and new engagements involve AI in one way or another. Our approach was recognised by Adweek, as we won their inaugural AI Agency of the Year award in 2023. In early 2024 we launched Monks.Flow, an AI-centric professional managed service and the initial response is encouraging - we believe this product will be an essential differentiator for us as clients move from testing to full-scale adoption of AI. The Company has key partnerships with AI technology leaders such as Google, Nvidia, OpenAI, Runway, AWS and Adobe and we are working closely with them to develop and implement use cases. Media.Monks are a NVIDIA Service Delivery Partner, which guides the migration of Brands and Industries to AI-powered workflows and compute. We are transforming the marketing services landscape through our adoption of NVIDIA software platforms throughout Monks.Flow.
¤ Our talented people have responded positively to the challenges of the year and we have continued to focus on the three areas of our ESG strategy: People Fulfilment, Our Responsibility to the World and One Brand.
Board and management structure
We are delighted to announce Jean-Benoit Berty, has been appointed Chief Operating Officer and a member of the Executive Committee with immediate effect. Prior to joining the Company, Jean-Benoit was a Senior Partner at Ernst & Young for approximately 18 years, where he held various leadership roles, including being the Technology, Media & Telecommunications Leader, Head of Industries and part of the original management team to build the Consulting practice. Jean-Benoit has also spent the past 12 years advising boards and management teams in the advertising and media industry on strategic and operational initiatives. His experience spans across strategic growth; commercial, organisational and operational effectiveness; margin improvement and enterprise-wide transformation. His previous roles include being Vice President at Capgemini Consulting and Managing Director at CRM consultancies. Christopher S Martin will now be able to focus 100% on leading the Data&Digital Media practice.
Following last year's Board effectiveness review, the Board decided to develop a more traditional, streamlined Board structure, where Directors are primarily non-executive. As a result, Christopher S. Martin, Victor Knaap, Wes ter Haar and Scott Spirit have all agreed to retire from the Board at the conclusion of the next annual general meeting. Each of the retiring executive directors will retain their current roles within the Company and, as now, their involvement in the Executive Committee, where they will be joined by Jean-Benoit Berty. Finally, Wes ter Haar will become a Board Observer, as an example of our founder/management ownership approach and to support input into our strategy, such as the focus on AI..
Outlook
¤ We expect clients to remain cautious in the near term, despite the possibility of interest rate reductions later in 2024.
¤ At a practice level we expect Content to show a profitability improvement reflecting the benefit of cost reductions made in 2023, Data&Digital Media to show a similar top and bottom line performance to the prior year with some margin improvement, while the outlook for Technology Services is more challenging and expected to be lower, following a reduction in activity with some key clients.
¤ For the Company as a whole, given the current outlook for Technology Services and wider market uncertainty, we are targeting like-for-like net revenue to be down on the prior year with a broadly similar overall level of operational EBITDA as 2023, as a result of cost reductions made in the previous year. The comparatives with 2023 will be difficult in the first-half and will be easier in the second-half. We expect the year to be heavily second-half weighted, with improving end markets and our normal seasonality.
¤ Our net debt is expected to fall in 2024 reflecting positive free cash flow and significantly lower combination payments. Our targeted range for the year end is £150 million to £190 million. We continue to aim for financial leverage of around 1.5 times operational EBITDA over the medium term.
¤ Over the medium to longer term we continue to expect our growth to outperform our markets and operational EBITDA margins to return to historic levels of around 20%.
S 회장 Martin Sorrell 경4Capital plc는 다음과 같이 말했습니다.
"후 우리의 first four strong net revenue growth years, we had a difficult 2023 reflecting challenging global macroeconomic conditions, fears of recession and high interest rates. This resulted in client caution to commit and extended sales cycles, particularly for larger projects, a difficult year for new business, as well as spend reductions from some regional and smaller client relationships. We saw better relative performance and continued resilience in our top 20 and top 50 clients, with our ten largest client relationships strong. We took significant actions to reduce costs in the year and maintain a disciplined approach to operational efficiency. We are targeting like-for-like net revenue for 2024 to be down on the prior year, with a broadly similar overall level of profit performance to 2023. As usual, the year is likely to be weighted to the second half, aided by lower interest rates and the impact of our Artificial Intelligence initiatives. We remain confident that our talent, business model, strategy and scaled client relationships position us well for above average growth in the longer term, with an emphasis on deploying free cash flow to boost shareowner returns. We welcome Jean-Benoit Berty as Chief Operating Officer. His extensive management consulting experience will be of great value in focusing on the opportunities and challenges we face. The simplification of Board membership and strengthening of the Executive Committee will also enable us to focus more on our performance. "
N오테 :
1. 청구는 통과 비용을 포함하여 고객에게 청구되는 총 청구액입니다.
2. 순수익은 수익에서 직접 비용을 뺀 값입니다.
3. Like-for-like is a non-GAAP measure and relates to 2022 being restated to show the audited numbers for the previous year of the existing and acquired businesses consolidated for the same months as in 2023 applying currency rates as used in 2023.
4. Pro-forma numbers relate to audited non-statutory and non-GAAP consolidated results in constant currency as if the Group had existed in full for the year and have been prepared under comparable GAAP with no consolidation eliminations in the pre-acquisition period.
5. Operational EBITDA is operating profit or loss adjusted for acquisition related expenses, non-recurring items (primarily acquisition payments tied to continued employment, amortisation of business combination intangible assets and restructuring and other one-off expenses) and recurring items (share-based payments) and includes right-of-use assets depreciation. It is a non-GAAP measure management uses to assess the underlying business performance. Operational EBITDA margin is operational EBITDA as a percentage of net revenue.
6. Adjusted figures are adjusted for non-recurring and recurring items as defined above.
7. 순부채에는 리스 부채가 제외됩니다.
8. The prior year figures have been restated for the adoption of the amendment to IAS 12.
9. 이것은 수익 예측이 아니라 목표입니다.
10. Net debt/pro-forma operational EBITDA as defined per the facilities agreement.
책임 부인
이 발표에는 다음이 포함됩니다. '미래 예측 진술'. All statements other than statements of historical facts included in this announcement, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to the Company's services) are forward-looking statements.
Forward-looking statements are subject to risks and uncertainties and accordingly the Company's actual future financial results and operational performance may differ materially from the results and performance expressed in, or implied by, the statements. These factors include but are not limited to those described in the Company's prospectus dated 8 October 2019 which is available on the news section of the Company's website. These forward- looking statements speak only as at the date of this announcement. S4Capital은 실제 결과 또는 그러한 진술이 기반으로 하는 가정, 조건 또는 상황의 변경 사항을 반영하기 위해 여기에 포함된 모든 미래 예측 진술을 업데이트하거나 수정할 의무 또는 약속을 명시적으로 부인합니다.
이 발표의 어떤 진술도 이익 예측을 위한 것이 아니며 이 발표의 어떤 진술도 현재 또는 미래 연도의 회사 주당 수익이 반드시 회사의 역사적 공시 주당 수익과 일치하거나 초과한다는 의미로 해석되어서는 안 됩니다. .
Neither the content of the Company's website, nor the content on any website accessible from hyperlinks on its website for any other website, is incorporated into, or forms part of, this announcement nor, unless previously published by means of a recognised information service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, shares in the Company.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 of 16 April 2014 as it forms part of English law by virtue of the European Union (Withdrawal) Act 2018.
결과 웹캐스트 및 컨퍼런스 콜
A webcast and conference call covering the results will be held today at 09:00 GMT in London, followed by another webcast and call at 08:00 EDT/ 13:00 GMT. Both webcasts of the presentation will be available at www.s4capital.com during the event. Those wishing to ask questions as part of the Q&A should use the conference call facility.
09:00 GMT 웹캐스트(시청만):
웹 캐스트 : https://brrmedia.news/SFORFY23UK
Conference call: USA Local: +1 786 697 3501
미국 무료 전화: 866 580 3963
영국 전역: +44 (0) 33 0551 0200
영국 무료 전화: 0808 109 0700
Confirmation code: Quote 'S4Capital Results' when prompted by the operator
08:00 EDT / 13:00 GMT 웹캐스트(시청만):
웹 캐스트 : https://brrmedia.news/SFORFY23US
전화 회의:
미국 지역: +1 786 697 3501
미국 무료 전화: 866 580 3963
영국 전역: +44 (0) 33 0551 0200
영국 무료 전화: 0808 109 0700
Confirmation code: Quote 'S4Capital Results US' when prompted by the operator
문의처
S4캐피탈 PLC
Sir Martin Sorrell, Executive Chairman +44 (0)20 3793 0003/ +44 (0)20 3793 0007
메리 배스터필드(Mary Basterfield), 최고재무책임자(CFO)
Scott Spirit, 최고 성장 책임자
Powerscourt (PR 고문)
Elly Williamson +44 (0)7970 246 725
피트 램비
예비 결과 진술 개요
2023 was a difficult year with slower market growth and continuing macroeconomic uncertainty. The first half saw a mixed performance with slower growth and an expected second half seasonal uplift did not materialise amidst continuing client caution and further economic and geopolitical challenges. Overall, we have seen clients very much focused on the short term, particularly in relation to larger transformation projects which has resulted in longer sales cycles, along with lower regional and local opportunities and we have found it harder to convert new business opportunities. Our stated '와퍼' strategy of building broad scaled relationships with leading enterprise clients continues to drive our business and we are half-way to our objective of 20 such relationships. We remain focused on a disciplined approach to costs, headcount and operational cash generation.
In the second half of 2023, as expected, there was cash outflow relating to prior year combination 결제, with net debt rising as a result. Due to significant cost reductions and £10 million of merger payments being moved into the following year, we ended the year with net debt at the lower end of our guided range. We will maintain a liquid balance sheet and the focus will be on improving operating performance and deploying free cash flow to buybacks and dividends.
The Company reports in three well defined practices:
· Content had a challenging year, with like-for-like net revenue declining, particularly in the second half, which impacted margins significantly, although this was tempered by strong cost discipline. Content practice operational EBITDA was £38.9 million, down 47.5% on a reported basis versus 2022 and down 55.7% on a like-for-like basis. Continued control on hiring and reorganisation of the practice has reduced the number of Monks at the year end. We continue to focus on improving the operating model, integration and forecasting. We have made changes to the leadership structure of the Content practice including, a new co-CEO Bruno Lambertini, and new leadership in key markets, including Matt Godfrey in APAC, to reinvigorate growth in local and regional clients.
· Data&Digital Media saw a modest like-for-like net revenue decline, which impacted margins. Corrective action on costs was taken. Data&Digital Media practice operational EBITDA was £33.5 million, down 16.0% on a reported basis from the last year and down 21.7% on a like-for-like basis reflecting the decline in revenue, people cost and related benefits increases and higher travel and selling costs against a Covid impacted comparison.
· Technology Services, after a strong first half, declined slightly in the second half due to phasing and a reduction in work with some larger clients and strong comparatives. Overall the practice delivered operational EBITDA of £43.4 million, up 20.2% on a reported basis from the prior year and up 0.7% like-for-like. Given these trends, Technology Services faces a challenging outlook for 2024, both at the revenue and profit level.
The Americas net revenue was £688.1 million and now represents 79% of our total net revenue with the benefit of the growth in Technology Services. EMEA and APAC had a more challenging year and now represent 15% and 6% of our total respectively.
Both Data&Digital Media and Technology Services market growth rates remain above those of traditional, analogue markets. We are mainly focused on the digital media and transformation markets and are at the heart of developing trends around AI, the Metaverse, Blockchain and Quantum Computing. We are seeing our AI initiatives have impact in improving visualisation and copywriting productivity, in delivering hyper-personalisation at scale, in more automated media planning and buying, in improving general client and agency efficiency and in democratising knowledge. This includes the launch of Monks.Flow, an AI-centric professional managed service. The initial client traction reinforces our confidence in our offering and approach. There is ongoing geopolitical uncertainty around US/China relations, the war in Ukraine and conflict in the Middle East meaning clients are likely to remain cautious despite confidence improving on the prior year, with the expectation of interest rate reductions to come later in 2024.
ESG
2023 was focused around the three areas of our ESG strategy: People Fulfilment, Our Responsibility to the World and One Brand. We are adopting new tools to help us move towards increased transparency and measuring of CO2 emissions. We continue to engage with leading stakeholders, industry efforts and global initiatives - like the World Economic Forum, Shanghai Municipality's International Business Leaders' Advisory Council (IBLAC) and Amazon's Climate Pledge. Our goal is to reach Net Zero by 2040 and we have a clear understanding of the emission reduction opportunities within the Company. We have submitted our SBTi targets for approval. Across the Company, we donated 1,449 hours for community and charity services and increased our For Good projects from 445 to 502.
We focused on our people and people experience using our DE&I platform, Diversity in Action, which touches all aspects of our business. We ran our third Women in Leadership programme at Berkley University and welcomed three new S4 Fellows. Embedding a greater understanding of diversity and cultural fluency into the Company is also a top priority. We are a signatory to the United Nations (UN) Women's Empowerment Principles and continue to focus on closing the representation gap in our industry by providing training to underserved and/or underrepresented talent.
요약 및 전망
We expect clients to remain cautious in the near term, despite the possibility of interest rate reductions later in 2024.
At a practice level we expect Content profitability to show an improvement reflecting the benefit of cost reductions made in 2023, Data&Digital Media to show a similar top and bottom line performance to the prior year with some margin improvement, while the outlook for Technology Services is more challenging and expected to be lower, following a reduction in activity with some key clients.
For the Company as a whole, given the current outlook for Technology Services and wider market uncertainty, we are targeting like-for-like net revenue to be down on the prior year with a broadly similar overall level of operational EBITDA as 2023. The comparatives with 2023 will be difficult in the first-half and will be easier in the second-half. We expect the year to be heavily second-half weighted with improving end markets and our normal seasonality.
Our net debt is expected to reduce in 2024 due to positive free cash flow and significantly lower combination payments. Our targeted range for the year end is £150 million to £190 million. We continue to aim for financial leverage of around 1.5 times operational EBITDA over the medium term.
Over the medium to longer term we continue to expect our growth to outperform our markets and operational EBITDA margins to return to historic levels of around 20%. The strategy of S4Capital remains the same. The Company's purely digital transformation model, based on first-party data fuelling the creation, production and distribution of digital advertising content, distributed by digital media and built on technology platforms to ensure success and efficiency, resonates with clients. Our tagline 'faster better cheaper and more (to which with the arrival of AI we have added '배우기') and a unitary structure both appeal strongly, even more so in challenging economic times.
재무 검토
결과 요약
£백만 | 연말 31 12 월 2023 | 연말 31 12 월 20228 | 변경 보고됨 | 이전 단계로 돌아가기 | 이전 단계로 돌아가기 | ||
빌링스1 | 1,870.5 | 1,890.5 | (1.1의 %) | (1.4의 %) | (1.4의 %) | ||
수익 | 1,011.5 | 1,069.5 | (5.4의 %) | (7.8의 %) | (7.8의 %) | ||
순수익2 | 873.2 | 891.7 | (2.1의 %) | (4.5의 %) | (4.5의 %) | ||
운영 EBITDA5 | 93.7 | 124.2 | (24.6의 %) | (36.6의 %) | (36.7의 %) | ||
운영 EBITDA 마진5 | 10.7% | 13.9% | (320bps) | (550bps) | (540bps) | ||
조정 된 영업 이익 | 82.0 | 114.1 | (28.1의 %) | ||||
조정 항목6 | (61.8) | (249.4) | 75.2% | ||||
조정 영업이익률6 | 9.4% | 12.8% | (340bps) | ||||
순금융비용 및 순화폐포지션 손실 | (34.1) | (24.4) | (39.8의 %) | ||||
Adjusted result before income tax6 | 48.1 | 88.4 | (46.4의 %) | ||||
Adjusted Income tax expenses6 | (11.6) | (20.9) | (44.2의 %) | ||||
Adjusted result for the year6 | 36.5 | 67.5 | (45.9의 %) | ||||
조정된 기본 주당 순이익6 (펜스) | 5.7 | 11.4 | (5.7) | ||||
A full list of alternative performance measures and non-IFRS measures together with reconciliations to IFRS or GAAP measures is set out in the Alternative Performance Measures.
재무 요약
Despite a challenging 2023 with slower market growth and ongoing macroeconomic uncertainty, cautious spending from clients, a difficult year for new business and a lower seasonal uplift than in previous years, we have continued to enhance our financial processes and controls, supported by a now well established finance team, with a focus on operational EBITDA margin, tight cost controls, forecasting and driving cash generation. We will continue to focus on all of these areas throughout 2024 along with ongoing investments in finance systems and processes to support the Group in delivering its targets for the year.
Billings were £1,870.5 million, down 1.1% on a reported basis, down 1.4% on a like-for-like basis.
Revenue was £1,011.5 million, down 5.4% from £1,069.5 million on a reported basis, down 7.8% on a like-for-like basis.
Net revenue was £873.2 million, down 2.1% reported, down 4.5% like-for-like.
Operational EBITDA was £93.7 million compared to £124.2 million in the prior year, a reported decrease of 24.6% and down 36.6% on a like-for-like basis reflecting the challenging revenue trajectory. We have continued to maintain a disciplined approach to cost management, including headcount and discretionary costs. These controls have resulted in the number of Monks at the end of the year being 7,707, down 13% from 8,891 at this time last year and down 15% on the June 2022 figure. In December 2023, the Argentinian Peso significantly devalued by over 50%. Operational EBITDA excludes this one-off benefit of £9.3m, which is included in adjusting items.
Operational EBITDA margin was 10.7%, down 320 basis points versus 13.9% in 2022 and down 550 basis points like-for-like reflecting primarily the lower growth and margins in the Content practice and lower margins in Technology Services and Data&Digital Media. Our ambition remains to return full year margins to historic levels, around 20%, over the medium to longer term.
Adjusted operating profit was down 28.1% on a reported basis to £82.0 million from £114.1 million, before adjusting items of £61.8 million (2022: £249.4 million). The reduction in adjusting items is largely due to lower combination payments tied to continued employment. Adjusting items also includes share-based payments, restructuring costs primarily related to headcount, amortisation of business combination intangible assets and the benefit to our costs of the significant devaluation of the Argentinian Peso. The reported operating profit of £20.2 million, was an improvement of £155.5 million on 2022, reflecting a reduction in the acquisition expenses. The loss for the year was £6.0 million (2022: loss £160.5 million).
Adjusted basic earnings per share was 5.7p, versus adjusted basic earnings per share of 11.4p in 2022. Basic loss per share was 0.9p (2022: 27.2p).
실습 및 지리적 성능
£백만 | 연말 31 12 월 2023 | 연말 31 12 월 2022 | 변경 보고됨 | 이전 단계로 돌아가기 | 이전 단계로 돌아가기 | ||
내용 | 528.9 | 582.7 | (9.2의 %) | (10.0의 %) | (10.0의 %) | ||
데이터 및 디지털 미디어 | 207.3 | 216.8 | (4.4의 %) | (3.1의 %) | (3.1의 %) | ||
기술 서비스 | 137.0 | 92.2 | 48.6% | 21.6% | 21.3% | ||
순수익2 | 873.2 | 891.7 | (2.1의 %) | (4.5의 %) | (4.5의 %) | ||
미주 | 688.1 | 683.9 | 0.6% | (2.8의 %) | (2.8의 %) | ||
EMEA | 133.1 | 148.3 | (10.2의 %) | (10.9의 %) | (10.9의 %) | ||
아시아 태평양 | 52.0 | 59.5 | (12.6의 %) | (9.2의 %) | (9.2의 %) | ||
순수익2* | 873.2 | 891.7 | (2.1의 %) | (4.5의 %) | (4.5의 %) | ||
내용 | 38.9 | 74.1 | (47.5의 %) | (55.7의 %) | (55.7의 %) | ||
데이터 및 디지털 미디어 | 33.5 | 39.9 | (16.0의 %) | (21.7의 %) | (21.7의 %) | ||
기술 서비스 | 43.4 | 36.1 | 20.2% | 0.7% | 0.5% | ||
S4 중심적인 | (22.1) | (25.9) | 14.7% | 15.0% | 15.4% | ||
운영 EBITDA5 | 93.7 | 124.2 | (24.6의 %) | (36.6의 %) | (36.7의 %) |
*The prior year geographical split of net revenue has been re-presented to be consistent with the internal reporting provided to the Group's Board of Directors in the current year.
연습 성능
The Content practice's net revenue was down 10.0% like-for-like and down 9.2% on a reported basis, with Data&Digital Media down 3.1% like-for-like and down 4.4% on a reported basis. Technology Services was up 21.6% like-for-like and up 48.6% on a reported basis.
Content practice operational EBITDA was £38.9 million, down 47.5% on a reported basis versus 2022, down 55.7% on a like-for-like basis. The Content practice operational EBITDA margin was 7.4%, compared to 12.7% in 2022, reflecting lower revenues impacting profitability. Continued control on hiring and reorganisation of the practice has reduced the number of Monks at the year end. We continue to focus on improving the operating model, integration and forecasting.
Data&Digital Media practice operational EBITDA was £33.5 million, down 16.0% on a reported basis from the last year, down 21.7% on a like-for-like basis. Data&Digital Media practice operational EBITDA margin was 16.2%, compared to 18.4%, reflecting the decline in revenue, people and related benefits cost inflation and higher travel and selling costs against a Covid impacted comparison.
Technology Services performed strongly in the year, with operational EBITDA of £43.4 million, up 20.2% on a reported basis from the prior year, up 0.7% like-for-like and delivering an operational EBITDA margin of 31.7%.
지리적 성능
The Americas net revenue was £688.1 million (79% of total), up 0.6% on a reported basis from last year. On a like-for-like basis the Americas net revenue was down 2.8%, with growth in our 'whoppers' offset by slower market growth and client caution.
EMEA net revenue was £133.1 million (15% of total), down 10.2% from last year on a reported basis. On a like-for-like basis EMEA net revenue was down 10.9% primarily reflecting macroeconomic conditions leading to slower market growth and client caution and a difficult new business environment.
Asia Pacific net revenue was £52.0 million (6% of total), down 12.6% on a reported basis. On a like-for-like basis Asia Pacific net revenue was down 9.2% reflecting challenging market conditions and lower client demand.
C재 흐름
£백만 | 연말 31 12 월 2023 | 연말 31 12 월 2022 |
운영 EBITDA | 93.7 | 124.2 |
자본 지출1 | (10.2) | (16.1) |
Interest and facility fees paid | (26.7) | (16.3) |
소득세 납부 | (20.5) | (19.0) |
Restructuring and other one-off expenses paid | (20.8) | (4.9) |
운전자본의 변화2 | (1.7) | 1.9 |
무료 현금 흐름 | 13.8 | 69.8 |
합병 및 인수 | (80.8) | (162.6) |
기타 | (3.6) | 0.6 |
순부채의 움직임 | (70.6) | (92.2) |
순부채 개설 | (110.2) | (18.0) |
순 부채 | (180.8) | (110.2) |
이 표는 비즈니스 관리 방식을 반영하며 비법정 현금 흐름 형식입니다.
1. Includes purchase of intangible assets, purchase of property, plant and equipment and security deposits.
2. Working capital primarily includes movement on receivables, payables, principal elements of lease payments and depreciation of right-of-use assets.
Free cash flow for 2023 was £13.8 million, a reduction of £56.0 million compared to 2022, with a lower operational EBITDA, increased cash interest costs reflecting higher interest rates, restructuring payments and a slight outflow in working capital.
Cash paid in relation to combinations (M&A) decreased £81.8 million versus the prior year to £80.8 million reflecting lower M&A activity. The majority of the cash payments have now been made with the majority of the balance of £11.4 million settled in the first quarter of 2024.
재무부 및 순부채
2023 | 2022 | ||
순 부채 조정 £백만 | |||
현금 및 현금성 자산 | 145.7 | 223.6 | |
대출 및 차입금(은행 당좌차월 제외) | (326.5) | (333.8) | |
순 부채 | (180.8) | (110.2) |
The year end net debt was £180.8 million (2022: £110.2 million) or 1.9x net debt/pro-forma operational EBITDA. During the year, the S4Capital Group (as defined in its facilities agreement) complied with the covenants set in that agreement. The pro-forma operational EBITDA for the year was £93.3 million. S4Capital Group will ensure that the net debt will not exceed 4.5:1 of the pro-forma earnings before interest, tax, depreciation, and amortisation, measured at the end of any relevant period of 12 months ending each semi-annual date in a financial year, as defined in the facility agreement. As at 31 December 2023, the net debt/pro-forma EBITDA, as defined by the facilities agreement, was 1.9x.
The balance sheet has sufficient liquidity and long dated debt maturities. The duration of the facilities agreement is seven years in relation to the TLB, therefore the termination date is August 2028, and five years in relation to the RCF, therefore the termination date is August 2026.
이자 및 세금
Consolidated statement of profit or loss net financing costs were £35.4 million (2022: £25.7 million), an increase of £9.7 million due to higher interest rates and increased lease costs. The profit or loss tax credit for the year was £7.9 million (2022: £0.8 million expense).
대차 대조표
Overall the Group reported net assets of £865.9 million as at 31 December 2023, which is an increase of £15.8 million compared to 31 December 2022, driven mainly by a reduction in contingent consideration balances.
취득
On 31 October 2023, S4Capital plc announced the business combination of Formula Consultants Incorporated ('인치당 지속 변화') for an expected total consideration of £1.2 million, including performance linked consideration of £0.4 million. The initial cash outlay was funded through the Group's own cash resources for the entire issued share capital of FCI.
The purchase price allocation has been finalised and net identifiable assets acquired totaled £1.0 million, including cash and cash equivalents of £0.3 million. Goodwill arising on the acquisition was £0.2 million. FCI has contributed £0.4 million to the Group's revenue and £0.3 million to the Group's operational EBITDA since the acquisition date.
S 소개4자본
S4Capital plc(SFOR.L)는 2018년 XNUMX월 Martin Sorrell 경이 설립한 기술 주도의 뉴에이지/뉴에이지 디지털 광고, 마케팅 및 기술 서비스 회사입니다.
Our strategy is to build a purely digital advertising and marketing services business for global, multinational, regional, and local clients, and millennial-driven influencer brands. This will be achieved by integrating leading businesses in three practices: Content, Data&Digital Media and Technology Services, along with an emphasis on 'faster, better, cheaper, more' execution in an always-on consumer-led environment, with a unitary structure.
S4Capital Board includes Rupert Faure Walker, Paul Roy, Daniel Pinto, Sue Prevezer, Elizabeth Buchanan, Naoko Okumoto, Margaret Ma Connolly, Miles Young and Colin Day as Non-Executive Directors.
현재 회사는 7,700개국에 약 32명의 직원을 보유하고 있으며 순수익의 약 80%는 미주 지역, 15%는 유럽, 중동 및 아프리카 지역, 5%는 아시아 태평양 지역에 있습니다. 장기적인 목표는 60%:20%:20%의 지리적 분할입니다. 현재 콘텐츠는 순수익의 약 60%를 차지하고 데이터 및 디지털 미디어는 25%, 기술 서비스는 15%를 차지합니다. 관행의 장기적인 목표는 50%:25%:25%의 분할입니다.
Sir Martin was CEO of WPP for 33 years, building it from a £1 million '껍질' company in 1985 into the world's largest advertising and marketing services company, with a market capitalisation of over £16 billion on the day he left. Prior to that Sir Martin was Group Financial Director of Saatchi & Saatchi Company Plc for nine years.
Audited consolidated statement of profit or loss
31년 2023월 XNUMX일로 종료되는 연도에 대해
2023
£ m | 2022 재 작성1 £ m | ||
노트 |
| ||
수익 | 7 | 1,011.5 | 1,069.5 |
직접 비용 | (138.3) | (177.8) | |
그물 수익 | 7 | 873.2 | 891.7 |
인사 비용 | (670.8) | (682.1) | |
기타 운영 경비 | (92.6) | (83.3) | |
인수, restructuring and other one-off 경비 | (11.9) | (155.9) | |
감가상각비n, 상각 및 손상 | (77.9) | (105.7) | |
공유 of 이익 of 관절 벤처 기업 | 0.2 | - | |
금액 운영 경비 |
(853.0) |
(1,027.0) | |
운영 이익/(손실) | 20.2 | (135.3) | |
조정 운영 이익 | 82.0 | 114.1 | |
조절하는 항목2 | (61.8) | (249.4) | |
운영 이익/(손실) | 20.2 | (135.3) | |
재무 수입 |
2.8 |
1.5 | |
재무 비용 | (38.2) | (27.2) | |
그물 재원 비용 |
(35.4) |
(25.7) | |
이득 on 전에, 그물 화폐의 위치 | 1.3 | 1.3 | |
손실 전에 수입 세 |
(13.9) |
(159.7) | |
수입 세 신용/(비용) | 7.9 | (0.8) | |
손실 for 전에, year |
(6.0) |
(160.5) | |
회사 소유주에게 귀속 비지배지분에 귀속 |
(6.0) - |
(160.5) - | |
(6.0) | (160.5) | ||
손실 용 몫 기여할 수있는 에 전에, 보통주 공평 홀더 of 전에, 기업 정보 Basic 오프 용 몫 (펜스) |
|
(0.9) |
(27.2) |
희석 오프 용 몫 (펜스) | (0.9) | (27.2) |
노트:
1. XNUMXD덴탈의 비교 31년 2022월 XNUMX일로 종료되는 회계연도 있다 된 회복 IAS 12 개정안 채택을 위해 (참고 2 참조).
2. Adjusting 항목 구성 amortisation and impairment of £48.6 million (2022년: £78.9 million), acquisition 경비 £9.2의 million gain (2022: £151.0 million expense), share-based payments of £10.1 million (2022년: £14.6 million) and restructuring and other one-off expenses of £12.3 million (2022년: £4.9 million).
XNUMXD덴탈의 결과 for 전에, year are 전적으로 기여할 수있는 에 전에, 지속 운영 of 전에, 그룹.
감사받은 연결포괄손익계산서
31년 2023월 XNUMX일로 종료되는 연도에 대해
2023
£ m |
2022 재 작성1 £ m | |
손실 for 전에, year | (6.0) | (160.5) |
기타포괄(비용)/수입 |
|
|
당기손익으로 재분류될 수 있는 항목 |
|
|
해외 사업 - 외화 환산 차이 | (53.8) | 70.7 |
기타 포괄적 인 (비용)/소득 |
(53.8) |
70.7 |
금액 포괄적 인 비용 for 전에, year | (59.8) | (89.8) |
귀속 에 소유자 of 전에, 기업 정보 |
(59.8) |
(89.8) |
귀속 에 비 통제 이해 | - | - |
(59.8) | (89.8) |
배송 시 요청 사항:
1. XNUMXD덴탈의 비교 31년 2022월 XNUMX일로 종료되는 회계연도 있다 된 회복 IAS 12 개정안 채택을 위해 (참고 2 참조).
Audited consolidated balance sheet
31 년 2023 월 XNUMX 일 기준
주의 사항 |
2023
£ m | 2022 재 작성1 £ m |
| ||
자산 |
| ||||
친선 | 8 | 691.3 | 718.8 |
| |
만질 수 없는 자산 | 381.6 | 445.2 |
| ||
사용권 자산 | 45.8 | 55.7 |
| ||
속성, 식물 와 장비 | 21.9 | 29.7 |
| ||
합작 투자에 대한 관심 | 0.2 | - |
| ||
이연 법인세 자산 | 7.3 | 5.4 |
| ||
기타 채권 | 13.7 | 12.2 |
| ||
비유동 자산 | 1,161.8 | 1,267.0 |
| ||
무역 및 other 채권 | 407.5 | 442.4 |
| ||
유동 법인세 자산 | 4.9 | - |
| ||
현금 및 현금성 자산 | 145.7 | 223.6 |
| ||
Current 자산 | 558.1 | 666.0 |
| ||
금액 자산 | 1,719.9 | 1,933.0 |
| ||
부채 |
|
| |||
이연 법인세 부채 | (32.7) | (54.1) |
| ||
융자 와 차입금 | (320.9) | (326.2) |
| ||
임대 부채 | (35.8) | (43.1) |
| ||
분견대 고려 와 보류 | 9 | (7.3) | (11.3) |
| |
식량 | (2.7) | (5.7) |
| ||
비유동 부채 | (399.4) | (440.4) |
| ||
|
| ||||
매입 채무 및 기타 채무 | (418.1) | (443.2) |
| ||
분견대 고려 와 보류 | 9 | (18.2) | (177.3) |
| |
융자 와 차입금 | (0.2) | (0.7) |
| ||
임대 부채 | (13.2) | (15.3) |
| ||
식량 | (1.0) | - |
| ||
현재 세금 부채 | (3.9) | (6.0) |
| ||
Current 부채 | (454.6) | (642.5) |
| ||
금액 부채 | (854.0) | (1,082.9) |
| ||
그물 자산 | 865.9 | 850.1 |
| ||
공평 |
| ||||
공유 자본 | 145.9 | 142.0 |
| ||
공유 프리미엄 | 80.4 | 5.9 |
| ||
기타 준비금 | 162.7 | 175.2 |
| ||
외국의 교환 준비금 | (5.3) | 48.5 |
| ||
잉여금 수입 | 482.1 | 478.4 |
| ||
귀속 에 소유자 of 전에, 기업 정보 | 865.8 | 850.0 |
| ||
비 통제 이해 | 0.1 | 0.1 |
| ||
금액 공평 | 865.9 | 850.1 |
|
배송 시 요청 사항:
1. XNUMXD덴탈의 비교 as at 31 12월 2022 있다 된 회복 for the adoption of 측량 기간 조정 in 점 of 사업 조합, the adoption of the amendment to IAS 12, the deferred tax offsetting 와 reclassification between trade and other payables and provisions (참조 참고 2).
감사받은 연결자본변동표
31년 2023월 XNUMX일로 종료되는 연도에 대해
주식 자본1 £ m | 프리미엄 공유 £ m | 합병 준비금 £ m | 기타 준비금2 £ m | 외환 준비금 £ m | 이익잉여금/(누적손실)3 £ m | 회사 소유주에게 귀속 £ m | 비 지배 지분 £ m | 총 자본 £ m | |
1년 2022월 XNUMX일 | 138.8 | 446.9 | 205.7 | 76.7 | (22.2) | (44.8) | 801.1 | 0.1 | 801.2 |
IAS 12 재작성 개정3 | - | - | - | - | - | 1.3 | 1.3 | - | 1.3 |
하이퍼인플레이션 수정 | - | - | - | 3.3 | - | - | 3.3 | - | 3.3 |
조정 기초 잔액 | 138.8 | 446.9 | 205.7 | 80.0 | (22.2) | (43.5) | 805.7 | 0.1 | 805.8 |
해당년도 포괄(손실)/수익 | |||||||||
올해의 손실 | - | - | - | - | - | (160.5) | (160.5) | - | (160.5) |
기타 포괄 손익 | - | - | - | - | 70.7 | - | 70.7 | - | 70.7 |
총포괄손익/(손실) 위한 year | - | - | - | - | 70.7 | (160.5) | (89.8) | - | (89.8) |
회사 소유주와의 거래 | |||||||||
실현된 합병 준비금4 | - | (462.6) | (205.7) | - | - | 668.3 | - | - | - |
사업결합 | 3.2 | 21.6 | - | 94.8 | - | - | 119.6 | - | 119.6 |
주식 기반 지불 | - | - | - | 0.4 | - | 14.1 | 14.5 | - | 14.5 |
31년 2022월 XNUMX일3 | 142.0 | 5.9 | - | 175.2 | 48.5 | 478.4 | 850.0 | 0.1 | 850.1 |
하이퍼인플레이션 수정 | - | - | - | 2.6 | - | - | 2.6 | - | 2.6 |
조정 기초 잔액 | 142.0 | 5.9 | - | 177.8 | 48.5 | 478.4 | 852.6 | 0.1 | 852.7 |
올해 종합 적자 |
|
|
|
|
|
|
|
|
|
올해의 손실 | - | - | - | - | - | (6.0) | (6.0) | - | (6.0) |
기타 종합 비용 | - | - | - | - |
(53.8) |
- |
(53.8) |
- |
(53.8) |
총 포괄 손실 올해 | - | - | - | - | (53.8) | (6.0) | (59.8) | - | (59.8) |
회사 소유주와의 거래 |
|
|
|
|
|
|
|
|
|
사업결합 | 3.9 | 74.5 | - | (15.7) | - | - | 62.7 | - | 62.7 |
주식 기반 지불 | - | - | - | 0.6 | - | 9.7 | 10.3 | - | 10.3 |
31년 2023월 XNUMX일 | 145.9 | 80.4 | - | 162.7 | (5.3) | 482.1 | 865.8 | 0.1 | 865.9 |
노트:
1. At the end of the reporting period, the issued and paid up share capital of S4Capital plc consisted of 583,064,256 (2022: 567,832,883) Ordinary Shares having a nominal value of £0.25 per Ordinary Share.
2. Other reserves include the deferred equity consideration of £156.2 million (2022년: £171.8 million), which comprises TheoremOne for £81.4 million (2022년: £55.0 million), Raccoon for £43.6 million (2022년: £43.0 million), Decoded for £nil (2022: £47.9 million), XX Artists for £25.3 million (2022년: £7.8 million), Cashmere for £nil (2022: £6.9 million), Zemoga for £3.4 million (2022년: £8.7 million), 4 Mile for £2.3 million (2022년: £2.3 million) and Destined for £0.2 million (2022년: £0.2 million), the treasury shares issued in the name of S4Capital plc to an employee benefit trust for the amount of £1.2 million (2022년: £1.8 million), and the impact of hyperinflation in Argentina of £7.5 million (2022년: £4.9 million)
3. XNUMXD덴탈의 opening balance as at 1 January 2022 and the comparatives as at 31 December 2022 have been restated for the adoption of the amendment to IAS 12 (see Note 2).
4. t 동안he year ended 31 December 2022, the Group undertook a reduction of capital to effect the cancellation of the C ordinary shares resulting from the capitalisation of the sum of £205.7 million outstanding to the credit of the Company's merger reserve.
감사받은 연결현금흐름표
31년 2023월 XNUMX일로 종료되는 연도에 대해
|
주의 사항 |
2023
£ m |
2022 재 작성1 £ m |
|
영업 활동으로 인한 현금 흐름 |
| |||
소득세 전 손실 | (13.9) | (159.7) | ||
순 금융 비용 | 35.4 | 25.7 | ||
감가상각, 상각 및 손상 | 77.9 | 105.7 | ||
공유 기반 결제 | 10.1 | 14.2 | ||
획득, 구조 조정 and other one-off 경비 | 11.9 | 155.9 | ||
고용 연계 조건 고려 지급 | (77.7) | (38.9) | ||
Restructuring and other one-off expenses paid | (20.8) | (4.9) | ||
공유 of 이익 in 관절 벤처 기업 | (0.2) | - | ||
이득 on 전에, 그물 화폐의 위치 | (1.3) | (1.3) | ||
기타 비현금 항목 | (9.8) | - | ||
감소/(증가) in 교환 와 other 채권 | 11.3 | (48.7) | ||
(감소)/증가 in 교환 와 other 미지급금 | (13.1) | 49.3 | ||
현금 흐름 에 운영 | 9.8 | 97.3 | ||
수입 세금 지급 | (20.5) | (19.0) | ||
그물 현금 flows (used in)/에 운영 방과 후 액티비티 | (10.7) | 78.3 |
| |
현금 흐름 에 투자 방과 후 액티비티 | ||||
구매 만질 수없는 자산 | (2.1) | (1.5) | ||
구매 재산, 식물 와 장비 | (5.9) | (16.4) | ||
획득 of 자회사, 그물 of 현금 획득한2 | 6, 9 | (3.1) | (123.7) | |
Amounts (paid into)/withdrawn from security deposits | (2.2) | 1.8 | ||
현금 흐름 에 사용 투자 방과 후 액티비티 | (13.3) | (139.8) |
| |
현금 흐름 에 자금 조달 방과 후 액티비티 | ||||
수입 에 발행 주식 | 0.2 | 0.2 | ||
리스 지불의 주요 요소1 | (16.3) | (15.4) | ||
상환 of 대출 와 차입금 | (0.2) | (0.9) | ||
관심 and facility fees 지급1 | (26.7) | (16.3) | ||
현금 흐름 에 사용 자금 조달 방과 후 액티비티 | (43.0) | (32.4) |
| |
그물 운동 in 현금 와 현금 등가물 | (67.0) | (93.9) | ||
현금 와 현금 등가물 처음 of 전에, year | 223.6 | 299.1 | ||
교환 (상실)/이득 on 현금 와 현금 등가물 | (10.9) | 18.4 | ||
현금 와 현금 등가물 at 전에, end of 전에, year | 145.7 | 223.6 |
|
배송 시 요청 사항:
1. The comparatives for the year ended 31 December 2022 have been reclassified (see Note 2).
2. Comprises cash paid on the current year acquisition of £0.8 million (2022: £96.8 million) less cash acquired of £0.3 million (2022: £7.6 million), cash paid into escrow accounts of £nil (2022: £12.8 million) and contingent consideration and holdback payments, net of cash released from escrow accounts, of £2.6 million (2022: £21.7 million).
Notes to the audited consolidated financial statements
31년 2023월 XNUMX일로 종료되는 연도에 대해
1. 일반 정보
S4캐피탈피엘씨('S4자본' or '기업 정보')는 14년 2016월 12일 영국에서 설립된 공개 유한 회사입니다. 회사는 XNUMX St James에 등록된 사무실을 두고 있습니다.'s 장소, 런던, SW1A 1NX, 영국.
The audited consolidated financial statements represent the results of the Company and its subsidiaries (together referred to as 'S4캐피탈그룹' 또는 '그룹').
S4캐피탈그룹은 뉴에이지/뉴에이지 디지털 광고 및 마케팅 서비스 기업입니다.
2. 작성근거
A. 준수 성명
S의 재무제표4Capital plc는 영국에서 채택한 국제 회계 기준 및 해당 기준에 따라 보고하는 회사에 적용되는 회사법 2006의 요구 사항에 따라 준비되었습니다.
The financial information set out above does not constitute the company's statutory accounts for the year ended 31 December 2023. The statutory accounts for 2023 will be finalised based on the financial information presented by the directors in this preliminary announcement and will be delivered to the Registrar of Companies in due course. The audited financial information is prepared under the historical cost basis, unless stated otherwise in the accounting policies.
그룹은 현재 및 예상 재무 성과와 위치를 검토하는 등 상세한 계속기업 평가를 실시했습니다. 이사들은 그룹의 예측이 신중하게 준비되었다고 믿습니다. 그룹의 은행 약정과 유동성 여유, 구현 가능한 비용 완화 조치를 고려하여, 이사들은 그룹이 가까운 미래에 시설 내에서 운영하고 은행 약정을 준수할 수 있을 것이라고 결론을 내렸으므로 다음과 같은 준비를 하는 것이 적절하다고 생각합니다. 그룹의 재무제표는 계속기업 기준으로 작성되었으며, 유의적인 계속기업 위험을 야기하는 중대한 불확실성이 없음을 확인합니다. 부채 만기 프로필과 이용 가능한 시설을 고려할 때, 이사들은 그룹이 예측 가능한 미래에 대한 요구 사항을 충족할 만큼 충분한 유동성을 가지고 있다고 믿습니다.
B. Restatement and reclassification
사업결합
31년 2022월 6일의 연결 대차대조표는 TheoremOne 인수와 관련된 공정 가치 조정을 위해 재작성되었습니다. 자세한 내용은 참고 XNUMX을 참조하세요.
단일 거래에서 발생하는 자산 및 부채와 관련된 이연세 (IAS 12 법인세 개정)
An amendment to IAS 12 Income taxes was published in May 2021 and became effective for the Group from 1 January 2023. The amendment narrowed the scope of the deferred tax recognition exemption so that it no longer applies to transactions that, on initial recognition, give rise to equal taxable and deductible temporary differences.
The Group has considered the impact of this amendment, notably in relation to the accounting for deferred taxes on leases and dilapidation provisions. The impact of transitioning to the revised standard was to increase deferred tax assets by £0.3 million, decrease deferred tax liabilities by £1.0 million and increase total equity by £1.3 million as at 1 January 2022. The impact on the consolidated statement of profit or loss was £0.8 million expense for period ended 31 December 2022. As a result, basic and diluted loss per share has increased by 0.2 pence. The impact of this retrospective adjustment on the consolidated balance sheet at 31 December 2022 is shown below.
Deferred tax offset
The impact of this retrospective adjustment as at 31 December 2022 was a £9.7 million decrease on both deferred tax assets and deferred tax liabilities, with no impact on net assets. The impact on the consolidated balance sheet at 1 January 2022 was £nil. The impact on the consolidated statement of profit or loss was £nil.
충당금 및 기타채무
Provisions previously presented as other payables have been reclassified to be shown separately on the consolidated balance sheet to provide consistency with the presentation of balances for the year ended 31 December 2023.
|
|
|
|
| 31 12월 2022 | ||
| As 신고
£ m | 사업결합 £ m | IAS 12 개정 £ m | Deferred tax offset £ m | 재분류
£ m | As 회복
£ m | |
친선 |
| 720.4 | (1.6) | - | - | - | 718.8 |
이연 법인세 자산 |
| 16.8 | - | (1.7) | (9.7) | - | 5.4 |
금액 전류가 흐르지 않는 자산 |
| 1,280.0 | (1.6) | (1.7) | (9.7) | - | 1,267.0 |
매출 채권 및 기타 채권 |
| 440.8 | 1.6 | - | - | - | 442.4 |
총 유동 자산 |
| 664.4 | 1.6 | - | - | - | 666.0 |
금액 자산 |
| 1,944.4 | - | (1.7) | (9.7) | - | 1,933.0 |
연기 된 세 부채 |
| (66.0) | - | 2.2 | 9.7 | - | (54.1) |
식량 |
| - | - | - | - | (5.7) | (5.7) |
기타 채무 |
| (5.7) | - | - | - | 5.7 | - |
금액 전류가 흐르지 않는 부채 |
| (452.3) | - | 2.2 | 9.7 | - | (440.4) |
금액 부채 |
| (1,094.8) | - | 2.2 | 9.7 | - | (1,082.9) |
그물 자산 |
| 849.6 | - | 0.5 | - | - | 850.1 |
Reclassification of statement of cash flows
The statement of cash flows for the year ended 31 December 2022 has been reclassified to provide consistency with
the presentation of amounts for the year ended 31 December 2023.
|
| 31 12월 2022 |
| |||
| 보도 된 바와 같이 £ m | 재분류
£ m | As 회복
£ m | |||
영업 활동으로 인한 현금 흐름 : |
|
|
|
| ||
Restructuring and other one-off expenses paid |
| - | (4.9) | (4.9) | ||
거래 및 기타 미지급금의 증가 |
| 44.4 | 4.9 | 49.3 | ||
영업 현금 흐름 |
| 97.3 | - | 97.3 | ||
|
|
|
|
| ||
금융 활동으로 인한 현금 흐름 : |
|
|
|
| ||
리스 지불의 주요 요소 |
| 17.5 | (2.1) | 15.4 | ||
Interest and facility fees paid |
| 14.2 | 2.1 | 16.3 | ||
재무 활동에 사용된 현금 흐름 |
| (43.0) | - | (43.0) | ||
C. 기능 및 표시 통화
The audited consolidated financial statements are presented in Pound Sterling (GBP or £), the Company'기능통화. 파운드 스털링의 모든 금융 정보는 별도로 명시하지 않는 한 가장 가까운 백만 단위로 반올림되었습니다.
D. 주요 위험 및 불확실성
The principal risks and uncertainties facing the Group as at 31 December 2023 relate to the following:
¤ 거시경제적 역풍
¤ Operational decision making
¤ Talent lifecycle
¤ 거버넌스 및 규정 준수
¤ 인공 지능
¤ 인수 통합
¤ 주요 고객
¤ 평판 위험
¤ Information security & data privacy
¤ 경쟁적 환경
3. 회계정책
The audited consolidated financial statements have been prepared on a consistent basis with the accounting policies of the Group which were set out on pages 139 to 154 of the Annual Report and Accounts 2022, excluding the impact of amended standards as detailed below.
현재 보고기간에는 다수의 개정된 기준이 적용되었습니다. 이는 다음과 같습니다:
회계추정의 정의(IAS 8 개정)
In February 2021, the IASB issued Definition of accounting estimates (Amendments to IAS 8) to clarify the distinction between accounting policies and accounting estimates. The amendments are effective for reporting periods beginning on or after 1 January 2023. The Group adopted this standard as of 1 January 2023. The adoption of this standard had no material impact on the Groups audited consolidated financial statements.
중요성 판단(IAS 1 및 IFRS 실무진술 2 개정)
In February 2021, the IASB issued amendments to IAS 1 and IFRS Practice Statement 2 "Making Materiality Judgements", which provide guidance and examples to help entities apply materiality judgements to accounting policy disclosures. The amendments aim to help entities provide accounting policy disclosures that are more useful by replacing the requirement for entities to disclose their 'significant' accounting policies with a requirement to disclose their material accounting policies and adding guidance on how entities are to apply the concept of materiality in making decisions about accounting policy disclosures. These amendments are applicable for annual periods beginning on or after 1 January 2023. These amendments have been adopted as of such date and their adoption has had no material impact on the Group's consolidated financial statements.
단일 거래에서 발생하는 자산 및 부채와 관련된 이연세 (IAS 12 법인세 개정)
In May 2021, the IASB issued Deferred tax related to assets and liabilities arising from a single transaction (Amendments to IAS 12 Income Taxes) to clarify how to account for deferred tax on transactions including leases and decommissioning obligations. The amendments are effective for reporting periods beginning on or after 1 January 2023. The Group adopted this standard as of 1 January 2023 and retrospectively applied the changes as at 1 January 2022, as detailed in Note 2.
IFRS 17 보험계약
2017년 XNUMX월 IASB는 IFRS 17 보험계약. IFRS 17 replaces IFRS 4 and sets out principles for the recognition, measurement, presentation and disclosure of insurance contracts within the scope of IFRS 17. This standard is effective for reporting periods beginning on or after 1 January 2023. The Group adopted this standard as of 1 January 2023. The adoption of this standard had no material impact on the Group's audited consolidated financial statements.
기둥 2
The Group is within the scope of the OECD Pillar Two model rules which will come into effect from 1 January 2024. Since the Pillar Two legislation was not effective at the reporting date, the Group has no related current tax exposure. The Group applies the exception to recognising and disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes, as provided in the amendments to IAS 12 issued in May 2023. Under the legislation, the Group is liable to pay a top-up tax on adjusted jurisdictional profits for the difference between its GloBE effective tax rate per jurisdiction and the 15% minimum rate.
Based on the Pillar Two assessment undertaken by the Group using the relevant information for the year ending 31 December 2023, the Group should be able to benefit from one of the three tests under the transitional CbCr safe harbour for most of its jurisdictions. The Group considers that the total amount of top up tax arising in respect of its jurisdictions is expected to be immaterial and as such has not undertaken detailed calculations required under the legislation. The Group expects to undertake a Pillar 2 assessment in the second quarter of 2024 for the purposes of interim reporting based on its forecasts for the year ending 31 December 2024.
4. 중요한 회계 판단 및 추정
The following are the critical accounting judgements and estimates, made by management in the process of applying the Group's accounting policies, that have the most significant effect on the amounts recognised in the Group's audited consolidated financial statements.
판단
수익 인식
그룹의 수익은 데이터 및 디지털 미디어 솔루션과 기술 서비스를 제공하여 얻습니다. IFRS 15에 따라 고객과의 계약에서 발생하는 수익은 수행 의무가 충족되거나 충족될 때 인식됩니다. Specifically for the Content segment, due to the size and complexity of contracts, management is required to form a number of judgements in the determination of the amount of revenue to be recognised including the identification of performance obligations within the contract and whether the performance obligation is satisfied over time or at a point in time. The key judgement is whether revenue should be recognised over time or at point in time. Where revenue is recognised over time, an estimate must be made regarding the progress towards completion of the performance obligation.
영업권 및 무형자산의 손상
The Group applies judgement in determining whether the carrying value of goodwill and intangible assets have any indication of impairment at each reporting period, or more frequently if required. Both external and internal factors are monitored for indicators of impairment. When performing the impairment review, management's approach for determining the recoverable amount of a cash-generating unit is based on the higher of value in use or fair value less cost to dispose. In determining the value in use, estimates and assumptions are used to derive cash flows, growth rates and discount rates. See Note 8 for further information.
세무직
그룹은 여러 관할 구역에서 판매세의 적용을 받습니다. 지불해야 할 세액의 불확실성으로 인해 판매세 충당금을 결정하려면 판단이 필요합니다. 불확실한 세무 상황과 관련된 충당금은 그룹이 각 상황에서 불확실성이 구체화될 가능성이 높다고 생각하는지 여부를 고려하여 포트폴리오 기준이 아닌 개인별로 설정됩니다.
대체 성능 측정의 사용
In establishing which items are disclosed separately as adjusting items to enable a better understanding of the underlying financial performance of the Group, management exercises judgement in assessing the size and nature of specific items. The Group uses alternative performance measures as we believe these measures provide additional useful information on the underlying trend, performance, and position of the Group. These underlying measures are used by the Group for internal performance analyses, and credit facility covenant calculations. The alternative performance measures include 'adjusted operating profit', 'adjusting items', 'EBITDA' (earnings before interest, tax, depreciation) and 'operational EBITDA'. The terms 'adjusted operating profit', 'adjusting items', 'EBITDA' and 'operational EBITDA' are not defined terms under IFRS and may therefore not be comparable with similarly titled profit measures reported by other companies. The measures are not intended to be a substitute for, or superior to, GAAP measures. A full list of alternative performance measures and non-IFRS measures together with reconciliations to IFRS measures are set out in the Alternative Performance Measures.
견적
영업권 및 무형자산의 손상
The recoverable amount for each CGU is determined using a value-in-use calculation. In determining the value-in-use, the Group uses forecasted revenue and profits adjusted for non-cash transactions to generate cash flow projections. The forecasts are prepared by management based on the Board-approved three-year business plans for each CGU along with a one-year management-prepared extrapolation period. The forecasts reflect the expected financial performance for each CGU, and consider the impact of inflation and the latest macroeconomic trends and external factors, as well as historic performance and trends, amongst other factors.
5. Statutory information and independent review
The condensed audited consolidated financial statements for the year ended 31 December 2023 do not constitute statutory accounts within the meaning of section 434 of the Companies Act 2006. A full copy of the 2023 Annual Report and Accounts will be available online in April 2024. The statutory accounts for the year ended 31 December 2022 have been delivered to the Registrar of Companies and received an unqualified auditors' report, did not include a reference to any matters to which the auditors drew attention by way of an emphasis of matter and did not contain a statement under sections 498 (2) or (3) of the Companies Act 2006.
6. Acquisitions
현재 연도 인수
On 31 October 2023, S4Capital plc announced the business combination of Formula Consultants Incorporated ('FCI') for an expected total consideration of £1.2 million, including performance linked consideration of £0.4 million. The initial cash outlay was funded through the Group's own cash resources for the entire issued share capital of FCI.
The purchase price allocation has been finalised and net identifiable assets acquired totalled £1.0 million, including cash and cash equivalents of £0.3 million. Goodwill arising on the acquisition was £0.2 million.
FCI has contributed £0.4 million to the Group's revenue and £0.3 million to the Group's operational EBITDA since the acquisition date. If the acquisition had occurred on 1 January 2023, the Group's Revenue and operational EBITDA would have been £1,012.2 million and £93.3 million respectively.
전년도 인수
XX 아티스트
The initial accounting for the business combination of XX Artists was provisional at the 31 December 2022 and was finalised as at 30 June 2023. There has been no change to the provisional fair value as disclosed at 31 December 2022.
At 31 December 2023, the employment linked contingent consideration was unconditional, on the basis that XX Artists fully achieved post acquisition EBITDA targets for the 12 month period ended 31 December 2022. As a result, during the year ended 31 December 2023 £35.8 million of employment linked contingent consideration was derecognised, with £15.3 million being cash settled, £17.5 million being recognised as deferred equity consideration and a revaluation gain of £0.9 million recognised in the consolidated statement of profit or loss.
At 31 December 2023, the holdback remaining on the balance sheet was £1.3 million. The Group expects to settle the maximum amounts, as the business had achieved the post acquisition EBITDA targets for the 12 month period ended 31 December 2022.
정리XNUMX
The initial accounting for the business combination of TheoremOne was provisional at the 31 December 2022. As required by IFRS 3, the following fair value adjustments have been made during the measurement period, which had no material impact on the consolidated statement of profit or loss.
31년 2022월 XNUMX일에 공개됨 |
|
31년 2023월 XNUMX일 | |
임시 박람회 가치 £ m | 공정 가치 조정 £ m |
공정 가치 £ m | |
그물 i식별 가능 자산 | 105.0 | - | 105.0 |
친선 | 38.0 | (1.5) | 36.5 |
금액 | 143.0 | (1.5) | 141.5 |
현금 | 78.0 | - | 78.0 |
연기 된 고려 | 55.0 | - | 55.0 |
다시 잡아 의무 | 10.0 | - | 10.0 |
구매 고려도 조정1 | - | (1.5) | (1.5) |
총 구매 고려 | 143.0 | (1.5) | 141.5 |
배송 시 요청 사항:
1. Adjustment to purchase consideration relates to the amount to be recovered by the Group through the completion accounts process.
During the year ended 31 December 2023, £28.5 million was charged to the consolidated statement of profit or loss with no further amounts to be accrued which related to the employment linked contingent consideration due to sellers who remain employees of the business.
At 31 December 2023, the employment linked contingent consideration was unconditional, on the basis that TheoremOne fully achieved post acquisition EBITDA targets for the 12 month period ended 31 December 2022. As a result, £79.0 million of employment linked contingent consideration was derecognised, with £39.5 million being 현금결제, £26.4 million being recognised as deferred equity consideration and a revaluation gain of £13.1 million recognised in the statement of profit or loss.
INCluded within other reserves as at 31 December 2023 is £81.4 million, comprised of £55.0 million of deferred consideration on initial acquisition and £26.4 million recognised during the period, as explained above.
At 31 December 2023, £6.0 million of holdbacks remain as a liability, relating to amounts held back to cover and indemnify the Group against certain acquisition costs and damages. The Group currently expects to settle the maximum holdback amount. The amount payable would be dependent on the amount of these acquisition costs and damages, with the minimum amount payable being £nil.
4 마일
At 31 December 2023, the performance linked and employment linked contingent consideration remaining on the balance sheet was £6.7 million and £2.6 million respectively. As a result of partially achieving post acquisition EBITDA targets for the 12 month period ended 31 December 2022, this amount was agreed and will be paid in 2024. As a result, a revaluation gain of £1.5 million recognised in the consolidated statement of profit or loss and a gain of £1.1 million recognised in the consolidated statement profit or loss through contingent consideration as remuneration during the year ended 31 December 2023.
At 31 December 2023, £4.7 million of holdbacks remain relating to amounts held back to cover and indemnify the Group against certain acquisition costs and any damage. The Group currently expects to settle the maximum holdback amount. The amount payable would be dependent on the acquisition costs and any damages, with the minimum amount payable being £nil.
너구리 그룹 (너구리)
At 31 December 2023, the employment linked contingent consideration was unconditional, on the basis that Raccoon fully achieved post acquisition EBITDA targets for the 12 month period ended 31 December 2022. As a result, £55.1 million of employment linked contingent consideration was derecognised, with £20.7 million cash settled, £17.4 million recognised as deferred equity consideration, a revaluation gain of £3.4 million recognised in the consolidated statement of profit or loss and a gain of £14.4 million recognised in the consolidated statement of profit or loss through contingent consideration as remuneration.
제모가그룹 (Zemoga)
At 31 December 2023, £0.9 million of holdbacks remain relating to amounts held back to cover and indemnify the Group against certain acquisition costs and damages. The Group currently expects to settle the maximum holdback amount. The amount payable is dependent on the amount of these acquisition costs and damages, with the minimum amount payable being £nil. During the year the Group settled £2.0 million of holdbacks, with a revaluation gain of £3.3 million recognised in the consolidated statement of profit 또는 손실.
캐시미어 천 Agency INC (캐시미어 천)
At 31 December 2023, £nil of holdbacks remain relating to amounts held back to cover and indemnify the Group against certain acquisition costs and damages. The Group settled £1.6 million of holdbacks during the year, with a revaluation gain of £1.2 million recognised in the consolidated statement of profit or loss.
7. 구간 정보
가. 영업부문
영업부문은 최고영업의사결정자(CODM)에게 제공되는 내부 보고와 일치하는 방식으로 보고됩니다. CODM은 S의 이사회로 확인되었습니다.4캐피탈그룹.
한 해 동안 S4Capital Group has three reportable segments as follows:
· Content: Creative content, campaigns, and assets at a global scale for paid, social and earned media - from digital platforms and apps to brand activations that aim to convert consumers at every possible touchpoint.
· Data&Digital Media: Full-service campaign management analytics, creative production and ad serving, platform and systems integration and transition, training and education.
· Technology Services: digital transformation services in delivering advanced digital product design, engineering services and delivery services.
고객은 주로 기술, FMCG, 미디어 및 엔터테인먼트 분야의 비즈니스입니다. 모든 부문 간 거래는 상업적 조건을 기반으로 합니다.
이사회는 세금, 감가 상각 및 할부 상환에 대한 비용을 부과하기 전에 자원 할당 및 성과 평가에 대한 결정을 내릴 목적으로 보고 부문의 결과를 개별적으로 모니터링합니다.
S 이사회4자본 그룹 uses net revenue rather than revenue to manage the Group due to the fluctuating amounts of direct costs, which form part of revenue.
다음은 보고 부문별 그룹의 순수익 및 결과에 대한 분석입니다.
2023 |
내용 £ m |
Data&디지털 미디어 £ m |
기술 서비스 £ m |
금액 £ m | |
수익 | 664.1 | 210.4 | 137.0 | 1,011.5 | |
그물 수익 | 528.9 | 207.3 | 137.0 | 873.2 | |
구획 이익1 | 46.5 | 35.2 | 43.4 | 125.1 | |
간접비 비용 |
|
|
| (22.1) | |
조정 반복되는 비 와 취득 관련 경비2 |
|
|
| (22.0) | |
감가 상각, 상각 및 장애3 |
|
|
| (60.8) | |
그물 재원 비용 와 이득 on 그물 화폐의 위치 |
|
|
| (34.1) | |
손실 전에 수입 세 | (13.9) | ||||
| |||||
2022 |
내용 £ m | 데이터 및 디지털 미디어 £ m | 기술 서비스 £ m |
금액 £ m | |
수익 | 755.4 | 220.5 | 93.6 | 1,069.5 | |
그물 수익 | 582.7 | 216.8 | 92.2 | 891.7 | |
구획 이익1 | 74.1 | 39.9 | 36.1 | 150.1 | |
간접비 비용 | (25.9) | ||||
조정 반복되는 비 와 취득 관련 경비2 | (170.6) | ||||
감가 상각, 상각 및 장애3 | (88.9) | ||||
그물 재원 비용 와 오프 on 그물 화폐의 위치 | (24.4) | ||||
손실 전에 수입 세 | (159.7) | ||||
배송 시 요청 사항:
1. Including £17.1 million (2022년: £16.8 million) depreciation on right-of-use assets.
2. Comprised of acquisition and restructuring expenses of £11.9 million (2022년: £155.9 million) and share-based payment costs of £10.1 million (2022년: £14.6 million).
3. Excluding £17.1 million (2022년: £16.8 million) depreciation on right-of-use assets.
부문이익은 합작투자의 손실분담분, 이사급여 등 중앙관리비용, 금융수익, 영업외손익, 법인세비용 등을 배분하지 않고 부문별로 벌어들인 이익을 의미합니다. 이는 자원 할당 및 부문 성과 평가를 위해 그룹 이사회에 보고된 척도입니다.
B. Information about major customers
One customer (2022: one) accounted for more than 10% of the Group's revenue during the year, contributing £177.5 million (2022: £187.5 million). The revenue from this customer was attributable to both the Content and Data&Digital Media segments.
8. 영업권
|
2023
£ m |
2022 재 작성1 £ m | |
At 1 1월 |
| 718.8 | 625.0 |
획득 한 을 통하여 사업 조합 |
| 0.2 | 51.8 |
장애 |
| - | (15.2) |
외국의 교환 차이 |
| (27.7) | 57.2 |
At 31 12월 |
| 691.3 | 718.8 |
|
배송 시 요청 사항:
1. The comparatives as at 31 December 2022 have been restated for measurement period adjustments in respect of business combinations for year ended 31 December 2023 (see Note 2).
During the year an amount of £0.2 million (2022: £51.8 million) has been acquired through business combinations and has been allocated to the Technology Services CGU.
영업권은 취득일 현재 피인수 자회사의 식별 가능한 순 자산에 대한 그룹 지분의 공정 가치에 대한 초과 대가를 나타냅니다.
손상 테스트
Goodwill acquired through business combinations is allocated to CGUs for the purpose of the impairment testing. The Group's three CGUs are Content, Data&Digital Media and Technology Services. The goodwill balance is allocated to each of the three CGUs as follows:
|
2023
£ m |
20221 재 작성 £ m | |
내용 |
| 413.6 | 393.3 |
데이터 및 디지털 미디어 |
| 197.6 | 241.0 |
기술 서비스 |
| 80.1 | 84.5 |
금액 |
| 691.3 | 718.8 |
배송 시 요청 사항:
1. The comparatives as at 31 December 2022 have been restated for measurement period adjustments in respect of business combinations for year ended 31 December 2023 (see Note 2).
The recoverable amount for each CGU is determined using a value-in-use calculation. In determining the value-in-use, the Group uses forecasted revenue and profits adjusted for non-cash transactions to generate cash flow projections. The forecasts are prepared by management based on the Board-approved three-year business plans for each CGU along with a one-year management-prepared extrapolation period. The forecasts reflect the expected financial performance for each CGU, and consider the impact of inflation and the latest macroeconomic trends and external factors, as well as historic performance and trends, amongst other factors.
Sensitivity analysis has been carried out for the value-in-use calculations of each CGU. Based on this sensitivity analysis, it has been determined that the excess of recoverable amount over the carrying amount of all three CGUs could, without changing other assumptions, be reduced to nil as a result of reasonably possible changes in the key assumptions of net revenue growth and EBITDA percentage margin in the cash flow forecasts, which are considered the two most sensitive assumptions.
For Content, with a headroom of £85.1 million, the range of net revenue growth rates across the four-year forecast period is between -0.3% and 12.6%, and the range of EBITDA margin across the four-year forecast period is between 14.1% and 20.0%. A pre-tax discount rate of 13.9% has been used, with a long-term growth rate of 2.0% applied in perpetuity beyond the four-year explicit forecast period. The recoverable amount would equal the carrying amount either if net revenue growth range were to be reduced to a range of -0.4% to 7.6% (with margins remaining unchanged) or if EBITDA margin were to be reduced to a range of 12.7% to 18.6% (with net revenue growth remaining unchanged).
For Data & Digital Media, with a headroom of £34.4 million, the range of net revenue growth rates across the four-year forecast period is between -0.2% and 13.3%, and the range of EBITDA margin across the four-year forecast period is between 15.0% and 20.0%. A pre-tax discount rate of 13.9% has been used, with a long-term growth rate of 2.0% applied in perpetuity beyond the four-year explicit forecast period. The recoverable amount would equal the carrying amount either if net revenue growth range were to be reduced to a range of -0.3% to 8.8% (with margins remaining unchanged) or if EBITDA margin were to be reduced to a range of 13.5% to 18.4% (with net revenue growth remaining unchanged).
For Technology Services, with a headroom of £61.0 million, the range of net revenue growth rates across the four-year forecast period is between -13.9% and 50.1%, and the range of EBITDA margin across the four-year forecast period is between 11.8% and 22.0%. A pre-tax discount rate of 13.4% has been used, with a long-term growth rate of 2.0% applied in perpetuity beyond the four-year explicit forecast period. The recoverable amount would equal the carrying amount either if net revenue growth range were to be reduced to a range of -19.5% to 29.5% (with margins remaining unchanged) or if EBITDA margin were to be reduced to a range of 7.8% to 18.1% (with net revenue growth remaining unchanged).
The consequential impacts of the changes in net revenue growth/EBITDA margins on cash flow assumptions including working capital movements and tax charges have been incorporated into the sensitivity analyses referred to above.
9. 금융상품
카테고리별 금융상품
재정상의 자산
|
2023 £ m |
2022 £ m |
현금 와 현금 등가물 | 145.7 | 223.6 |
거래 채권 | 346.8 | 349.6 |
발생 수입 | 28.2 | 44.7 |
기타 채권 | 33.1 | 43.9 |
금액 | 553.8 | 661.8 |
재정상의 부채
|
2023 £ m |
2022 £ m | ||
|
|
| ||
| 상각후원가로 측정하는 금융부채 |
|
| |
| 거래 와 other 미지급금 | (348.9) | (369.2) | |
| 융자 와 차입금 | (321.1) | (326.9) | |
| 임대 부채 | (49.0) | (58.4) | |
| 재정상의 부채 개최 at 공정한 가치 을 통하여 이익 or 오프 |
| ||
| 분견대 고려 와 보류 | (25.5) | (188.6) | |
| 금액 | (744.5) | (943.1) | |
The following table categorises the Group's financial liabilities held at fair value on the audited consolidated balance sheet. There have been no transfers between levels during the year (2022: none).
재정상의 liabilities held at fair value |
2023 공정 가치 £ m |
2023 레벨 3 £ m |
2022 공정 가치 £ m |
2022 레벨 3 £ m |
우발적 고려 및 보류 | (25.5) | (25.5) | (188.6) | (188.6) |
금액 | (25.5) | (25.5) | (188.6) | (188.6) |
다음 표는 조건부 고려 및 보류의 움직임을 보여줍니다.
우발적 고려 및 보류 |
퍼포먼스 연결 할당량 고려 £ m |
고용/노동법 연결 할당량 고려 £ m |
보류1 £ m |
금액 £ m |
1년 2022월 XNUMX일 잔액 | (42.9) | (58.7) | (16.8) | (118.4) |
사업결합을 통해 취득 | (12.5) | - | (14.2) | (26.7) |
Recognised in consolidated statement of profit or loss2 | 13.1 | (155.6) | (1.6) | (144.1) |
현금 지급 | 17.0 | 38.9 | 9.4 | 65.3 |
지분결제 | 19.1 | 35.4 | - | 54.5 |
환율 차이 | (4.7) | (11.7) | (2.8) | (19.2) |
31 년 2022 월 XNUMX 일 잔액 | (10.9) | (151.7) | (26.0) | (188.6) |
사업결합을 통해 취득 | (0.4) | - | - | (0.4) |
Recognised in consolidated statement of profit or loss2 | 1.6 | 4.1 | 5.8 | 11.5 |
현금 지급 | - | 77.7 | 5.9 | 83.6 |
지분결제 | - | 62.3 | 0.4 | 62.7 |
환율 차이 | 0.7 | 4.6 | 0.4 | 5.7 |
31 년 2023 월 XNUMX 일 잔액 | (9.0) | (3.0) | (13.5) | (25.5) |
유동부채에 포함됨 | (10.9) | (151.7) | (14.7) | (177.3) |
비유동부채에 포함됨 | - | - | (11.3) | (11.3) |
31 년 2022 월 XNUMX 일 잔액 | (10.9) | (151.7) | (26.0) | (188.6) |
|
|
|
|
|
유동부채에 포함됨 | (8.6) | (3.0) | (6.6) | (18.2) |
비유동부채에 포함됨 | (0.4) | - | (6.9) | (7.3) |
31 년 2023 월 XNUMX 일 잔액 | (9.0) | (3.0) | (13.5) | (25.5) |
배송 시 요청 사항:
1. Holdback payments of £5.9 million(2022: £9.4 million) includes £3.3 million (2022: £4.7 million) of cash paid out escrow accounts.
2. Includes a charge of £13.2 million (2022: £172.4 million) relating to employment linked contingent consideration and holdback deemed remuneration, a
credit of £24.7 million relating to a fair value gain (2022: £29.8 million) and a charge o에프 £무(2022: 파운드1.5 million) relating to the impact of discounting.
Where the contingent consideration conditions have been satisfied, consideration that is payable as equity is recognised within Other Reserves as deferred equity consideration.
The fair value of the performance linked contingent consideration has been determined based on management's best estimate of achieving future targets to which the consideration is linked. The most significant unobservable input used in the fair value measurements is the future forecast performance of the acquired business. The fair value is assessed and recognised at the acquisition date, and reassessed at each balance sheet date thereafter, until fully settled, cancelled or expired. Any change in the range of future outcomes is recognised in the consolidated statement of profit or loss as a fair value gain or loss. The impact of discounting on the performance linked contingent consideration is £nil for the year (2022: £1.5 million). During the year ended 31 December 2023, a fair value gain of £1.9 million (2022: 파운드14.6 million) was recognised in the consolidated statement of profit or loss.
The fair value of the employment linked contingent consideration has been determined based on management's best estimate of achieving future targets to which the consideration is linked. The most significant unobservable input used in the fair value measurements is the future forecast performance of the acquired business. The fair value is assessed at the acquisition date, and systematically accrued over the respective employment term. Any changes in the range of future outcomes are recognised in the consolidated statement of profit or loss as a fair value gain or loss. During the year ended 31 December 2023, a £3.8 million credit (2022: £155.6 million charge) was recognised in the consolidated statement of profit or loss. The £3.8 million (2022: £155.6 million charge) comprised a charge of £13.5 million (2022: £170.8 million) relating to the systematic accrual of the employment linked contingent consideration and a fair value gain of £17.3 million (2022: £15.2 million).
Holdbacks relate to amounts held by the Group to cover and indemnify the Group against certain acquisition costs and damages. The fair value of the holdbacks has been determined based on management's best estimate of the level of the costs incurred and damages expected to which the holdback is linked, which is the most significant unobservable input used in the fair value measurement. During the year ended 31 December 2023, a credit of £5.8 million (2022: £1.6 million charge) has been recognised in the consolidated statement of profit or loss.
10. Net debt reconciliation
XNUMXD덴탈의 수행원 테이블 쇼 전에, 화해 of 그물 현금 흐름 에 이동 in 그물 빚:
차입금 및 초과 인출 £ m |
현금 £ m |
그물 빚 £ m |
임대1 £ m | Net debt including Lease Liabilities £ m | |
그물 빚 as at 1 일월 2022 | (319.0) | 301.0 | (18.0) | (42.0) | (60.0) |
할부 현금 흐름 | 0.9 | (95.8) | (94.9) | 15.4 | (79.5) |
획득 한 을 통하여 사업 조합 | (0.3) | - | (0.3) | (0.7) | (1.0) |
임대 추가 | - | - | - | (26.9) | (26.9) |
외국의 교환 조정 | (17.6) | 18.4 | 0.8 | (3.5) | (2.7) |
관심 비용 | (13.5) | - | (13.5) | (2.1) | (15.6) |
관심 지불 | 13.5 | - | 13.5 | 2.1 | 15.6 |
기타 | 2.2 | - | 2.2 | (0.7) | 1.5 |
그물 빚 as at 31 12월 2022 | (333.8) | 223.6 | (110.2) | (58.4) | (168.6) |
자금 조달 현금 흐름 | 0.2 | (67.0) | (66.8) | 16.3 | (50.5) |
사업결합을 통해 취득 | - | - | - | (0.2) | (0.2) |
임대 추가 | - | - | - | (14.0) | (14.0) |
외환 조정 | 6.8 | (10.9) | (4.1) | 1.1 | (3.0) |
이자 비용 | (22.7) | - | (22.7) | (2.3) | (25.0) |
이자 지급 | 23.1 | - | 23.1 | 2.3 | 25.4 |
기타 | (0.1) | - | (0.1) | 6.2 | 6.1 |
31년 2023월 XNUMX일 현재 순부채 | (326.5) | 145.7 | (180.8) | (49.0) | (229.8) |
배송 시 요청 사항:
1. The comparatives for the year ended 31 December 2022 have been reclassified between financing cash flows and interest payment (see Note 2).
11. 특수관계자 거래
Apart from key management personnel compensation and the interest in S4S Ventures detailed in the Annual Report and Accounts 2022, S4Capital Group did not have any other related party transactions during the year (2022: nil).
12. Events occurring after the reporting period
There were no material post balance sheet events, that require adjustment or disclosure, occurring between the reporting period and 26 March 2024.
부록 - 대체 성능 측정
The Group has included various audited alternative performance measures (APMs) in 그것의 audited consolidated financial statements. The Group includes these non-GAAP measures as it considers these measures to be both useful and necessary to the readers of these audited consolidated financial statements to help them more fully understand the performance and position of the Group. The Group's measures may not be calculated in the same way as similarly titled measures reported by other companies. The APMs should not be viewed in isolation and should be considered as additional supplementary information to the IFRS measures. Full reconciliations have been provided between the APMs and their closest IFRS measures.
The Group has concluded that these APMs are relevant as they represent how the Board assesses the performance of the Group and they are also closely aligned with how shareholders value the business. They provide like-for-like, year-on-year comparisons and are closely correlated with the cash inflows from operations and working capital position of the Group. They are used by the Group for internal performance analysis and the presentation of these measures facilitates comparison with other industry peers as they adjust for non-recurring factors which may materially affect IFRS measures. Adjusting items for the Group include amortisation of acquired intangibles, acquisition related expenses costs, share-based payments, employment-related acquisition costs and restructuring costs. Whilst adjusted measures exclude amortisation of intangibles, acquisition costs and restructuring costs they do include the revenue from acquisitions and the benefits of the restructuring programmes and therefore should not be considered a complete picture of the Group's financial performance, that is provided by the IFRS measures.
The adjusted measures are also used in the calculation of the adjusted earnings per share and banking covenants as per our agreement with our lenders.
APM | 가장 가까운 IFRS 측정 | IFRS 측정치 조정을 위한 조정 |
사용 이유 |
Au수정 연결손익계산서 | |||
통제 청구 | 수익 | 미디어 지출 포함 계약 한 직접 by 클라이언트 미디어 제공업체 및 이전 비용 포함(아래 조정 A1 참조) | It is an important measure to help understand the scale of the activities that Group has managed on behalf of its clients, in addition to the activities that are directly invoiced by the Group.
|
빌링스 | 수익 | 통과 비용 포함(아래 조정 A1 참조) | 그룹이 고객에게 직접 송장을 발행하는 활동을 이해하는 것은 중요한 척도입니다.
|
순수익 | 수익 | 직접 비용 제외(아래 조정 A2 참조) | 이는 그룹이 고객에게 제공하는 서비스에 대해 벌어들이는 수수료와 더욱 밀접하게 연관되어 있습니다. 이는 연습 성과를 볼 때 그룹에서 사용하는 주요 지표입니다. |
운영 EBITDA | 빈 터rating profit | Excludes acquisition related expenses, non-recurring items (primarily acquisition payments tied to continued employment, amortisation of business combination intangible assets and restructuring and other one-off expenses) and recurring share-based payments, and includes right-of-use assets depreciation. (see reconciliation A3 below) | Operational EBITDA is Operating profit or loss before the impact of adjusting items, amortisation of intangible assets and PPE depreciation. The Group considers this to be an important measure of Group performance and is consistent with how the Group is assessed by the Board and investment community. |
유사 유사 | 매출 및 영업이익 | 이전 연도 비교 항목(이 경우 2022년)은 2023년과 같은 달에 인수한 사업을 포함하도록 재작성되고 2023년에 사용된 것과 동일한 환율을 사용하여 재작성되었습니다(아래 조정 A4 참조). | Like-for-like is an important measure used by the Board and investors when looking at Group performance. It provides a comparison that reflects the impact of acquisitions and changes in FX rates during the year. |
APM | 가장 가까운 IFRS 측정 | IFRS 측정치 조정을 위한 조정 |
사용 이유 | |||
견적서 | 매출 및 영업이익 | the XNUMX 년 consolidated results in constant currency and for acquisitions as if the Group had existed in full for the year (see reconciliations A5 below) | Pro-forma figures are used extensively by management and the investment community. It is a useful measure when looking at how the Group has changed in light of the number of acquisitions that have been completed and to understand the performance of the Gr웁. | |||
조정된 기본 주당 순이익 | 주당 기본 수입 | Excludes amortisation of intangible assets, acquisition related expenses, share-based payments and restructuring and other one-off expenses (see reconciliation A6 below) | 조정된 기본 주당 수익은 비반복 항목 및 결합과 관련된 항목을 제거한 후 그룹의 주당 수익을 이해하기 위해 경영진이 사용합니다.
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Adjusted profit year | (손실)/연간 이익 | Excludes amortisation of intangible assets, acquisition related expenses, share-based payments and restructuring and other one-off 경비 (아래 조정 A6 참조) | Adjusted profit for the year is used by management to understand the profit for the Group after removing non-recurring items and those linked to combinations. | |||
A편집 통합 대차 대조표 | ||||||
순 부채 | 없음 | Net debt is cash less gross bank loans (excluding transaction costs and lease liabilities). This is a key measure used by management and in calculations for bank covenants (see reconciliation A7 below) | Net debt is a commonly used metric to identify the debt obligations of the Group after utilising cash in bank. | |||
감사받은 연결현금흐름표 | ||||||
무료 현금 흐름 | 영업활동으로 인한 순현금유입/(유출) | Net cash flow from operating activities adjusted for investments in intangibles and property, plant and equipment, lease liabilities, interest and facility fees paid, security deposits and employment linked contingent consideration paid. | Free cash flow is a commonly used metric used to identify the amount of cash at the disposal of the Group. | |||
2023 |
2022 |
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빌링스 와 제어 청구서 (A1) | £ m | £ m |
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수익 | 1,011.5 | 1,069.5 |
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지나가 다 경비 | 859.0 | 821.0 |
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빌링스1 | 1,870.5 | 1,890.5 |
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제삼 파티 청구서 곧장 에 클라이언트 | 3,152.3 | 3,760.7 |
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제어 청구서2 | 5,022.8 | 5,651.2 |
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노트: 1. 빌링스 징그럽다 고객에게 청구 통과 비용을 포함합니다. 2. 제어 청구서 are 청구서 we 영향을 받았습니다. |
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2023 |
2022 |
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순수익(A2) | £ m | £ m |
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수익 | 1,011.5 | 1,069.5 |
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직접 비용 | (138.3) | (177.8) |
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그물 수익 | 873.2 | 891.7 |
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화해 에 조작상의 EBITDA (A3) |
2023 £ m |
2022 £ m | ||
운영 이익/(손실) | 20.2 | (135.3) | |||
상각 및 장애 of 만질 수없는 자산 | 48.6 | 78.9 | |||
취득 비용 | (9.2) | 151.0 | |||
공유 기반 지불 | 10.1 | 14.6 | |||
Restructuring and other one-off expenses1 | 11.8 | 4.9 | |||
감가 상각 of 재산, 식물 와 장비2 | 12.2 | 10.1 | |||
조작상의 EBITDA | 93.7 | 124.2 | |||
노트: 1. Restructuring and other one-off expenses relates to restructuring costs of £18.2 million (2022: £4.9 million), transformation costs of £2.9 million (2022: £nil), offset by £9.3 million due to the significant devaluation of the Argentinian Peso (2022: £무). 2. 감가상각 of 재산, 식물 와 장비 is 배타적인 of 감가 상각 on 사용권 assets and includes £0.5 million expense (2022: £nil) relating to the significant devaluation of the Argentinian Peso. |
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좋아요(A4)
좋아하는 수익 |
내용 | 데이터 및 디지털 미디어 | 기술 서비스 |
금액 |
출간연도 종료 31 12월 2022 | £ m | £ m | £ m | £ m |
수익 | 755.4 | 220.5 | 93.6 | 1,069.5 |
영향 of 인수 | 41.5 | 8.4 | 80.3 | 130.2 |
영향 of 외국의 교환 | (31.8) | (11.3) | (59.5) | (102.6) |
좋아하는 수익1 | 765.1 | 217.6 | 114.4 | 1,097.1 |
% 비슷한 수익 이전 단계로 돌아가기 | (13.2의 %) | (3.3의 %) | 19.8% | (7.8의 %) |
노트:
1. Like-for-like is a non-GAAP measure and relates to 2022 being restated to show the numbers for the previous year of the existing and acquired businesses consolidated for the same months as in 2023, applying currency rates as used in 2023.
좋아하는 그물 수익 |
내용 | 데이터 및 디지털 미디어 | 기술 서비스 |
금액 |
31월 XNUMX일 종료 2022 | £ m | £ m | £ m | £ m |
그물 수익 | 582.7 | 216.8 | 92.2 | 891.7 |
영향 of 인수 | 23.9 | 8.1 | 79.0 | 111.0 |
영향 of 외국의 교환 | (19.0) | (11.0) | (58.5) | (88.5) |
좋아하는 그물 수익1 | 587.6 | 213.9 | 112.7 | 914.2 |
% 비슷한 그물 수익 이전 단계로 돌아가기 | (10.0의 %) | (3.1의 %) | 21.6% | (4.5의 %) |
노트:
1. 좋아하는 is a 비GAAP 측정 와 관련 에 2022 존재 회복 에 표시 전에, 감사 숫자 for 전에, 너무 이른 year of 전에, 현존하는 와 획득한 사업 통합 for 전에, 같은 개월 as in 2023, 적용 통화 요금 as 익숙한 in 2023.
좋아하는 조작상의 EBITDA 출간연도 종료 31 12월 2022 | 금액 £ m |
조작상의 EBITDA | 124.2 |
영향 of 인수 | 39.9 |
영향 of 외국의 교환 | (16.4) |
좋아하는 운영 EBITDA1 | 147.7 |
% 비슷한 운영 EBITDA 이전 단계로 돌아가기 | (36.6의 %) |
노트:
1. Like-for-like is a 비GAAP 측정 와 관련 에 2022 존재 회복 에 표시 the audited 숫자 for 전에, 너무 이른 year of 전에, 현존하는 와 획득한 사업 통합 for 전에, 같은 개월 as in 2023, 적용 통화 요금 as 익숙한 in 2023.
견적서 (A5)
견적서 수익 |
내용 £ m |
데이터 및 디지털 미디어 £ m |
기술 서비스 £ m |
금액 £ m |
FY23 수익 | 664.1 | 210.4 | 137.0 | 1,011.5 |
영향 of 인수 | - | - | 0.7 | 0.7 |
FY23 견적서 수익1 | 664.1 | 210.4 | 137.7 | 1,012.2 |
FY22 수익 | 755.4 | 220.5 | 93.6 | 1,069.5 |
영향 of 인수 | 41.5 | 8.4 | 80.9 | 130.8 |
영향 of 외국의 교환 | (31.8) | (11.3) | (59.4) | (102.5) |
FY22 견적서 수익1 | 765.1 | 217.6 | 115.1 | 1,097.8 |
% 견적서 수익 이전 단계로 돌아가기 | (13.2의 %) | (3.3의 %) | 19.6% | (7.8의 %) |
노트:
1. 견적서 관련 에 감사 비법정 와 비GAAP 통합 결과 in 상수 통화 as if 전에, 그룹 했다 존재 in 가득 찬 for 전에, year 와 있다 된 준비 아래에 유사한 회계 기준 과 아니 강화 제거 in 전에, 사전 취득 년.
추정 순수익 |
내용 £ m |
데이터 및 디지털 미디어 £ m |
기술 서비스 £ m |
금액 £ m |
FY23 그물 수익 | 528.9 | 207.3 | 137.0 | 873.2 |
영향 of 인수 | - | - | 0.6 | 0.6 |
FY23 견적서 그물 수익1 | 528.9 | 207.3 | 137.6 | 873.8 |
FY22 그물 수익 | 582.7 | 216.8 | 92.2 | 891.7 |
영향 of 인수 | 23.9 | 8.1 | 79.7 | 111.7 |
영향 of 외국의 교환 | (19.1) | (11.0) | (58.5) | (88.6) |
FY22 견적서 그물 수익1 | 587.5 | 213.9 | 113.4 | 914.8 |
% 견적서 그물 수익 이전 단계로 돌아가기 | (10.0의 %) | (3.1의 %) | 21.3% | (4.5의 %) |
노트:
1. 견적서 관련 에 감사 비법정 와 비GAAP 통합 결과 in 상수 통화 as if 전에, 그룹 했다 존재 in 가득 찬 for 전에, year 와 있다 된 준비 아래에 유사한 회계 기준 과 아니 강화 제거 in 전에, 사전 취득 년.
견적서 조작상의 EBITDA | 금액 £ m |
FY23 운영 EBITDA | 93.7 |
영향 of 인수 | (0.4) |
FY23 Pro-forma 운영 EBITDA1 | 93.3 |
FY22 조작상의 EBITDA | 124.2 |
영향 of 인수 | 39.5 |
영향 of 외국의 교환 | (16.4) |
FY22 견적서 운영 EBITDA1 | 147.3 |
% 견적서 운영 EBITDA 이전 단계로 돌아가기 | (36.7의 %) |
노트:
1. 견적서 관련 to audited 비법정 와 비GAAP 통합 결과 in 상수 통화 as if 전에, 그룹 했다 존재 in 가득 찬 for 전에, year 와 있다 된 준비 아래에 유사한 회계 기준 과 아니 강화 제거 in 전에, 사전 취득 년.
조정된 기본주당순이익(A6)
출간연도 종료 31 12월 2023 |
보고 £ m |
상각 및 손상1 £ m |
취득 비용2 |
주식 기반 지불 |
구조 조정 and other one-off expenses3 |
조정 £ m |
운영 이익 | 20.2 | 48.6 | (9.2) | 10.1 | 12.3 | 82.0 |
그물 재원 비용 | (35.4) | - | - | - | 1.5 | (33.9) |
순화폐적 포지션 이익 | 1.3 | - | - | - | (1.3) | - |
(손실) / 이익 전에 수입 세 | (13.9) | 48.6 | (9.2) | 10.1 | 12.5 | 48.1 |
수입 세 비용 | 7.9 | (14.7) | - | (0.7) | (4.1) | (11.6) |
(손실) / 이익 for 전에, year | (6.0) | 33.9 | (9.2) | 9.4 | 8.4 | 36.5 |
배송 시 요청 사항:
1. Amortisation and impairment relates to the intangible assets recognised as a result of the acquisitions.
2. Acquisition expenses relate to acquisition related advisory fees of £2.3 million, contingent consideration as remuneration of £13.2 million and remeasurement gain on contingent considerations of £24.7 million.
3. Restructuring and other one-off expenses relate to restructuring costs of £18.2 million, transformation costs of £2.9 million, offset by £8.8 million due to the significant devaluation of the Argentinian Peso.
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보고 |
상각1 |
취득 비용2 |
주식 기반 지불 |
Restructuring and other one-off expenses3 |
조정 |
31년 2022월 XNUMX일 종료 | £ m | £ m | £ m | £ m | £ m | £ m |
운영 (손실)/이익 | (135.3) | 78.9 | 151.0 | 14.6 | 4.9 | 114.1 |
그물 재원 비용 | (25.7) | - | - | - | - | (25.7) |
순화폐적 포지션 이익 | 1.3 | - | - | - | (1.3) | - |
(손실) / 이익 전에 수입 세 | (159.7) | 78.9 | 151.0 | 14.6 | 3.6 | 88.4 |
수입 세 비용 | (0.8) | (16.7) | (0.1) | (2.5) | (0.8) | (20.9) |
(손실) / 이익 for 전에, year | (160.5) | 62.2 | 150.9 | 12.1 | 2.8 | 67.5 |
배송 시 요청 사항:
1. Amortisation and impairment relates to the intangible assets recognised as a result of the acquisitions.
2. Acquisition expenses relate to acquisition related advisory fees of £7.9 million, bonuses of £0.4 million, contingent consideration as remuneration of £172.4 million and remeasurement gain on contingent considerations of £29.7 million.
3. Restructuring and other one-off expenses relate to restructuring costs of £4.9 million.
조정 기본 결과 용 몫 |
2023 |
2022 | |
조정 이익 기여할 수있는 에 소유자 of 전에, 기업 정보 (백만 파운드) | 36.5 | 67.5 | |
가중 평균 번호 of 보통주 주식 for 전에, 목적 of 기본 EPS(주식) | 639,218,703 | 590,667,949 | |
조정 기본 수입 용 공유 (펜스) | 5.7 | 11.4 | |
순부채(A7) |
2023 £ m |
2022 £ m |
현금 은행 | 145.7 | 223.6 |
융자 와 차입금 (을 제외한 은행 초과인월) | (326.5) | (333.8) |
그물 빚 | (180.8) | (110.2) |
임대 부채 | (49.0) | (58.4) |
그물 빚 ...을 포함하여 임차권 부채 | (229.8) | (168.6) |
잉여현금흐름(A8) |
2023 £ m |
2022 £ m |
영업활동으로 인한 순현금(유출)/유입 | (10.7) | 78.3 |
고용 연계 조건 고려 지급 | 77.7 | 38.9 |
Interest and facility fees paid | (26.7) | (16.3) |
투자 in 만질 수없는 자산 | (2.1) | (1.5) |
투자 in 재산, 식물 와 장비 | (5.9) | (16.4) |
보증금 | (2.2) | 1.8 |
Principal element of 임차권 결제 | (16.3) | (15.4) |
기타 | - | 0.4 |
무료 현금 흐름 | 13.8 | 69.8 |
RNS는 귀하의 IP 주소를 사용하여 약관 준수 여부를 확인하고, 귀하가 이 커뮤니케이션에 포함된 정보를 사용하는 방식을 분석하고, 그러한 분석을 익명으로 다른 사람과 상용 서비스의 일부로 공유할 수 있습니다. RNS와 런던 증권 거래소가 귀하가 제공한 개인 데이터를 사용하는 방법에 대한 자세한 내용은 개인 정보 보호 정책을 참조하십시오.