NEW
YORK, Feb. 23, 2024 /PRNewswire/ -- Criteo S.A.
(NASDAQ: CRTO) ("Criteo" or the "Company"), the commerce media
company, today issued the following statement in response to the
recent letter made public by Petrus Advisers:
Criteo's Board and management team maintain a regular dialogue
with our shareholders and value constructive input toward the
shared goal of enhancing shareholder value. While we do not comment
on discussions with specific shareholders, it is important to note
that members of Criteo's management team and Board have held a
number of discussions with Petrus Advisers over the past three
years. We are carefully reviewing their letter and hope to continue
to engage constructively with them.
Our Board and management team are laser focused on executing
Criteo's strategy and have a proven track record of taking decisive
action to drive near- and long-term, sustainable value for
shareholders:
- We are seeing strong results from our strategy to be the AdTech
partner of choice for Commerce Media; Criteo achieved double-digit
growth in 2023 for the second consecutive year.
- In 2023, we achieved the historic milestone of crossing
$1 billion in Contribution ex-TAC for
the first time in Criteo's history, with more than 50% coming from
non-Retargeting solutions. We also achieved adjusted EBITDA of 30%,
including over $70 million of
annualized savings.
- We are increasing our leading market share in Retail Media,
having surpassed $200 million in
annual revenue.
- In Q4 of 2023, we delivered record top line with organic growth
acceleration.
- We are disciplined in our approach to capital allocation to
drive value, which includes returning capital to shareholders
through share buybacks. Having completed over $125 million in share repurchases in 2023, the
Board approved an additional $150
million to be added to our existing share repurchase
authorization. As previously communicated, we have accelerated our
share buyback in Q1 2024 under a new 10b5-1 plan.
- Our Board comprises eight highly qualified and diverse
directors, seven of whom are independent, and we continuously
review the composition of our Board to ensure alignment with our
plan, including the appointment last year of Frederik van der Kooi, who brings extensive
experience in building and scaling profitable global advertising
businesses.
We look forward to an ongoing dialogue with all shareholders as
we continue to advance our value creation strategy.
Evercore is serving as financial advisor to Criteo and Skadden,
Arps, Slate, Meagher & Flom LLP is serving as its legal
counsel.
About Criteo
Criteo (NASDAQ: CRTO) is the global commerce media company that
enables marketers and media owners to drive better commerce
outcomes. Its industry leading Commerce Media Platform connects
thousands of marketers and media owners to deliver richer consumer
experiences from product discovery to purchase. By powering trusted
and impactful advertising, Criteo supports an open internet that
encourages discovery, innovation, and choice. For more information,
please visit www.criteo.com.
Contacts
Criteo Investor Relations
Melanie Dambre, m.dambre@criteo.com
Criteo Public Relations
Jessica Meyers,
j.meyers@criteo.com
OR
Camilla Scassellati-Sforzolini, Warren
Rizzi
FGS Global
Criteo@FGSGlobal.com
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SOURCE Criteo Corp