Time Out Group (TMO) Trading Update summary

Trading performance and financial outlook

• Q4 sales growth accelerated in both Media and Market segments, driving strong trading momentum.

• EBITDA for FY24 is now expected to exceed market consensus (£6.7m pre IFRS16, £11.7m post IFRS16).

• Cost discipline contributed to improved profitability alongside higher sales.

Strategic and operational developments

• Opened Time Out Porto in May, expanding the portfolio to eight locations, with eight more in development.

• Barcelona opening in July, followed by Bahrain, Osaka, Vancouver, and Budapest within 12 months.

Brand and audience growth

• Global monthly brand audience increased 5% to 142 million, with social media video content as a key driver.

• TikTok and Instagram audience doubled year-on-year.