Invibes Advertising : 2019 Annual Results. Six-fold increase in
EBITDA.
2019 ANNUAL
RESULTSSix-fold increase in EBITDA
- Revenue up 59%
- Six-fold increase in EBITDA, with EBITDA margin of
13.8%
- Strengthened financial power drive robust
growth
- Upbeat on 2020
London, 9 March 2020, - INVIBES
ADVERTISING, a tech firm specialising in digital advertising, today
announced the release of its audited financial statements for FY
2019.
Audited consolidated data, in
€kIFRS |
2019 |
2018 |
Δ |
Revenue |
9,699 |
6,075 |
+59% |
Purchasing and external expenses |
(5,491) |
(3,626) |
+51% |
Personnel expenses |
(2,869) |
(2,193) |
+31% |
EBITDA 1 |
1,339 |
230 |
+482% |
As a % of revenue |
13.8% |
3.8% |
|
Depreciation, amortisation and
provisions |
(656) |
(428) |
+53% |
Operating income
(expense) |
686 |
(198) |
NA |
Financial income (expense) |
(117) |
(83) |
+41% |
Extraordinary income 2 |
23 |
940 |
n/s |
Net income |
591 |
661 |
-11% |
·Revenue
up 59%
INVIBES ADVERTISING reported revenue of €9.7m
for FY 20193, implying overall growth of 59% and organic growth
(excluding ML2GROW in 2019) of 56%. Based on the Group’s intrinsic
scope4, revenue growth practically doubled (+91%), from €5.0m to
€9.5m.
This robust growth was fuelled by several key
drivers, including extremely healthy top-line momentum in France
and also the expansion in the group’s international reach which
gained traction over the year and now spans six countries in
Europe. The Group employed a total of 83 people at the end of
2019.
·Six-fold increase in EBITDA
INVIBES ADVERTISING chalked up a near six-fold
increase in its EBITDA to €1.3m in 2019, up from €230k in 2018.
EBTIDA margin therefore came in at 13.8% for the year, some 10
points ahead of the year-earlier figure.
This outstanding growth in operating
profitability notably stemmed from the combined effect of:
- Contributions from certain countries, such as Switzerland and
Spain, which exceeded their break-even point in 2019;
- Contained growth in expenses, notably personnel costs, which
increased at a slower pace than revenue and testify to the speed at
which teams were able to become operational and productive.
Taking into account the €656k charge for
amortisation and depreciation, INVIBES ADVERTISING recorded
operating income of €686k, compared with an operating loss of €198k
in 2018.
Net profit came in at €591k, which was slightly
lower than in the year-earlier period. This was due to demanding
comparison with 2018 when the Group recorded an exceptional gain of
€940k in relation to the buy-out of DREICOM, the price of which was
less than its net book value (resulting in negative goodwill).
·Strengthened financial position
at 31 December 2019
As of 31 December 2019, the Group's finances are
solid, with €6.9m in equity and €2.5m in net cash (compared with
€2.4m at 31 December 2018), taking into account gross proceeds of
€1m from the first tranche of the capital increase reserved for
Generis Capital Partners and conducted in November 2019.
INVIBES ADVERTISING therefore has greater
financial resources with which to comfortably fund its strong
growth in France and
abroad. ·Upbeat
on 2020
2020 will see INVIBES ADVERTISING leverage its
scalable business development model and implement the keys to its
success in France across all of the countries it has newly entered
and in which it is expanding:
- A unique technology platform providing disruptive advertising
solutions that are continuously being enhanced with new,
non-intrusive formats;
- The use of proprietary algorithms to determine the most
effective targeting approach for each ad campaign, thereby
generating the best KPIs for advertising clients;
- The inclusion of major local media groups in its network of
publisher partners so as to build a wide-ranging and powerful
inventory through which to broadcast advertising campaigns;
To add to these advantages, the Group has a
seasoned salesforce with teams assigned to each country to ensure
the consistent implementation of sustainable digital ecosystems,
not to mention the loyalty shown by major advertising brands who
regularly demonstrate their trust in the Group by renewing their
campaigns.
In addition to these key success factors and
with a view to cementing its momentum, INVIBES ADVERTISING will be
taking advantage of the upcoming roll-out of pan-European
advertising schemes which should pave the way to natural growth in
average ad campaign budgets.
About INVIBES
ADVERTISING
Founded in 2011, INVIBES ADVERTISING is an
advanced technology company specialized in digital advertising. It
has developed advertising solutions using an in-feed format built
into media content. The principle is similar to social networks and
it is optimized for dissemination in a closed network of media
websites. Our clientele includes a large number of acclaimed
companies: advertisers and media agencies.
INVIBES ADVERTISING is listed on the Euronext
Paris stock exchange (Ticker: ALINV – ISIN: BE0974299316), and in
2019 achieved a place in FT1000 ranking, published each year by the
Financial Times. For more information, please visit
www.invibes.com.
Read our latest press releases at:
https://www.invibes.com/investors.html
Follow the latest news about INVIBES ADVERTISING
on:
Linkedin: @Invibes advertising
Twitter: @Invibes_adv Facebook: @Invibes
advertising
Financial
& Corporate Contacts
INVIBES ADVERTISINGKris
VLAEMYNCK, CFOkris.vlaemynck@invibes.com
ATOUT CAPITAL, Listing
SponsorRodolphe OSSOLArodolphe.ossola@atoutcapital.com+33
(0)1 56 69 61 80 ACTIFIN, Investor
Relations Alexandre COMMEROTacommerot@actifin.fr +33 (0)1
56 88 11 11
ACTIFIN, Financial Media
Relations Jennifer Julliajjullia@actifin.fr
+33 (0)1 56 88 11 19
1 EBITDA = Current operating income before depreciation,
amortization and provisions
2 Gain related to transactions resulting from the acquisition of
DREICOM
3 Including the acquisition of DREICOM, consolidated as of
01/01/2018, and a stake in ML2Grow, consolidated as of
01/01/2019.
4 Alternative performance indicator used by INVIBES ADVERTISING
to monitor its operating activities. It is calculated by excluding,
in respect of acquisitions, changes in the scope of consolidation
over the period, i.e. excluding the contribution of DREICOM in 2018
and ML2GROW in 2019. This indicator shows the Group’s intrinsic
revenue performance over the period.
- 2020 03 09 Invibes-Advertising-PR-EN
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