Cint Group (CINT) Strategy Update summary

Strategic Vision and Cint 2.0 Business Update

• Launched Cint 2.0, a three-year strategy focused on platform innovation, operational efficiency, and growth in both media measurement and Cint Exchange.

• Media measurement is now an equal business pillar, with leadership integrated into management and a focus on TAM expansion and innovation.

• Key growth drivers include premium supply, data licensing, synthetic data, and data collaboration, with a new go-to-market strategy segmented by customer type.

• Migration and consolidation of platforms to be completed in 2025, unlocking R&D resources for innovation and new product launches in 2026-2027.

• By 2027, targets include market-leading feasibility, automated research, and streamlined access to premium respondents.

Media Measurement Business and Market Opportunity

• Media measurement leverages Cint's scale and speed, enabling real-time, cross-platform brand lift measurement and expanding TAM from $4B to $10B.

• The business has grown at a 48% CAGR over four years, outpacing the 9% industry growth rate, with further expansion planned into EMEA and APAC.

• Growth is driven by API integrations, SaaS offerings, and the ability to serve both large and small campaigns globally.

• Product roadmap includes AI-driven insights, new data partnerships, and outcome measurement, with a focus on emerging advertising channels.

• Brand & incrementality measurement market estimated at $2.2bn in 2023, with the US representing 75% of the total.

Financial and Trading Update

• Q4 2024 net sales estimated at EUR 45.4 million, down 2.8% year-on-year; EBITA at EUR 12.7 million, up from EUR 12.2 million.

• Full year 2024 net sales fell by EUR 2m (1% in constant currency), with a 10% Exchange decline offset by 30% Media Measurement growth; gross margin at 87% and EBITA margin improved to 20% from cost reductions.

• Gross profit margin at 88.7% and EBITA margin improved to 28.0% due to lower operating expenses.

• Customer migration to Cint Exchange reached 75% by end of Q4 2024.

• Rights issue to raise up to SEK 600 million, with SEK 400 million for debt repayment and SEK 200 million for strategic flexibility and growth investment; leverage expected to drop to ~1.0x post-issue.