MUMBAI: Entertainment powerhouse Banijay group has posted phenomenal financial figures for 2024, with profits perking up considerably in the final quarter. The firm, flying high after a fabulous fiscal year, smashed its own guidance with a whopping 22 per cent growth in adjusted EBITDA.
The titan tallied total revenue of Euro 4,803 million, up a tidy 10.9 per cent, with momentum mounting magnificently in Q4 with a 14.8 per cent surge. Adjusted EBITDA jumped by 21.6 per cent to Euro 900 million, with a particularly powerful performance in the final quarter, rocketing up by 32.8 per cent.
Margins moved up markedly by 160 basis points to 18.7 per cent compared to 2023, while adjusted net income climbed by 29.3 per cent to Euro 418 million. The company's coffers are considerably healthier, with a cash position of Euro 482 million and leverage ratio trimmed to 2.9x (down 0.2x since December 2023).
Shareholders can smile at a suggested dividend of Euro 0.35 per share, equating to 35 per cent of adjusted net income.
CEO François Riahi remarked that since listing three years ago, Banijay has increased revenue by 37 per cent and adjusted EBITDA by 50 per cent, with streaming content revenues doubling, as has the number of unique active players.
Despite industry headwinds hampering the first half, Banijay's content production and distribution division delivered revenue of Euro 3,348 million, up by a slim but significant 0.5 per cent. The final quarter finished with flair, showing a 6.7 per cent rise thanks to major scripted show deliveries.
Content production revenue specifically stood at Euro 2,615 million, down 2.8 per cent compared to 2023, but bounced back brilliantly with a 6.2 per cent boost in Q4. Content distribution dipped by 1.5 per cent to Euro 397 million in 2024, but rebounded robustly in Q4 with a 33.2 per cent increase.
"Banijay group enjoyed a record year in 2024," said Riahi. "Even in a challenging global content prouction market, we continued to see strong demand – especially from streaming platforms – for our iconic brands and deep content catalogue as the number one European studio for scripted content and a world leader in global format launches."
The streaming success story continued with top-performing titles including Like Water for Chocolate, which ranked first among Spanish-language content on HBO Max, while Supersex, La Vita che Volevi and The Law According to Lidia Poet dominated Netflix's top four scripted titles in Italy during H1.
Banijay maintains its mantle as the number one studio worldwide for global format launches. Six legacy formats ranked among the top 20 most-traveling TV formats globally, including Deal or No Deal (#2), MasterChef (#4), Big Brother (#6), Survivor (#7), Minute to Win It (#11), and The Money Drop (#14).
The company's catalogue has expanded enormously, growing by more than 20,000 hours over the year to reach 207,000 hours of content, a 12 per cent increase compared to 2023.
Live experiences & other revenue rose remarkably by 42 per cent to Euro 336 million, driven by robust growth from brand licensing and the full-year contribution of Balich Wonder Studio. Throughout 2024, Balich Wonder Studio produced 119 shows including the opening ceremony of Euro 2024 in Munich and the Uefa Champions League in London. Cultural conquests included the award-winning Viva Vivaldi: The Four Seasons Immersive Concert in Verona and the 400th edition of the Festino di Santa Rosalia, which attracted more than 350,000 spectators.
The Independents impressed with 642 shows including the Vogue Festival in Paris and Spring/Summer 2025 runway shows for luxury labels like Christian Louboutin and Khaite.
Post-year developments include the January 2025 acquisition of Lotchi, a French producer of immersive experiences combining architecture with video-mapping, light and classical music. February saw the launch of Banijay Live Studio, set to create cutting-edge out-of-home entertainment experiences with a "Black Mirror" project already underway.
The online sports betting and gaming division delivered dazzling results, with revenue racing ahead by 45.4 per cent to Euro 1,456 million and an exceptional Q4 performance showing 49.3 per cent growth.
Online sportsbook revenue rose by 48.4 per cent to Euro 1,144 million, while online casino, poker and turf grew by 35.5 per cent to Euro 311 million. The betting business bagged market share across all products and territories, enjoying a 37 per cent increase in unique active players compared to 2023.
The division debuted a fully redesigned sportsbook app and launched a new proprietary poker platform in December 2024. The group strengthened its responsible gaming policy, with 99 per cent of its online sports betting & gaming revenue generated in locally regulated markets in 2024.
Looking forward, Banijay forecasts further fiscal fortunes in 2025:
* Mid-single digit growth for content production, distribution and live experiences
* Mid-teens growth for online sports betting and gaming
* Mid-to-high single digit growth in adjusted EBITDA, despite a Euro 20 million hit from higher betting taxes in France (effective from 1 July 2025)
* Adjusted free cash flow of approximately 80 per cent of adjusted EBITDA
Riahi, announced that several board members, including himself, will be purchasing shares in the company – a vote of confidence in future growth.
"Banijay Group's value proposition in the entertainment industry is unique," Riahi concluded. "We have a clear track record of performance, and we aim to expand our free float and stock liquidity so that shareholders can benefit from the value we are creating."
