Reworld Media (ALREW) Q2 2024 TU earnings summary

Executive summary

• Consolidated revenue for H1 2024 was €264.1m, nearly stable year-over-year (-0.9%).

• BtoB division achieved record revenue of €149.9m, up 4.3% year-over-year, driven by digital activities.

• BtoC division revenue declined 6.9% to €114.2m, with a return to historical trends in Q2 after a negative Q1 base effect.

• Revenue outside France represented 33% of the total.

Financial highlights

• BtoB revenue reached an all-time high, with digital activities accounting for nearly 90% of the segment.

• BtoC subscription sales fell 9.4%, but the average basket increased 1.6% to €5.41.

• Pay-per-use BtoC sales declined 4.9%.

• Q2 consolidated revenue fell 2.2% sequentially, with BtoC down 5.5% and BtoB up 0.6%.

Outlook and guidance

• Confident in medium and long-term growth, focusing on high-performing content, monetization drivers, and social network branding.

• Social networks and new performance-based levers (influence marketing, content to commerce, retail media) are key growth drivers.