26% and EBITDA Growth of 37%, Capital Markets Day starting 10:00 CEST
Finanz und Wirtschaft EQS-News: Verve Group SE / Schlagwort(e): Halbjahresbericht/Quartalsergebnis
Verve Publishes Interim Report Q2 2024 With Organic Revenue Growth of 26% and EBITDA
Growth of 37%, Capital Markets Day starting 10:00 CEST
29.08.2024 / 08:00 CET/CEST
Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich.
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August 29, 2024 (08:00 CEST) – Verve Group SE ("Verve" or the "Company", ISIN:
SE0018538068; ticker: VER, Inside Information) a fast-growing, profitable digital media
company that provides AI-driven advertising-software solutions, publishes its Interim
Report Q2 2024.
FINANCIAL HIGHLIGHTS Q2 2024
* Net revenue €96.6m (€76.2m), an * Operating Cashflow before changes
increase of 27% in WC amounted to €31.2m (€20.8m)
* Organic net revenue increased by 26%, * Total net debt, amounted to €299.8m
driven by new Software Clients as well (€307.7m)
as budget increases from existing * Reported leverage ratio of 2.2x
Software Clients (3.6x) * Adj. Leverage Ratio of 2.8x
* Adj. EBITDA €29.1m (€21.3m), an (3.2x)
increase of 37%, with an adj. EBITDA * Cash position amounted to €144.8m
margin of 30% (28%) (€107.6m) * Earnings Per Share
* Adj. EBIT €23.2m (€16.6m), an (EPS) amounted to €0.04 (€0.01)
increase of 40% * Adj. EPS amounted to €0.05
* Items affecting comparability (€0.02) * Total Assets amounted to
impacting EBITDA of €1.0m (€1.3m) €1,059 (€1,003)
mainly for legal and ESOP costs * Equity Ratio was 38% (32%)
* Adj. net result of €8.8m (€4.0m), an * 33% Increase in Software Clients to
increase of 122% 851 (642)
QUOTE FROM THE CEO
"With €96.6m in revenues achieved in the second quarter, we have delivered an organic
revenue growth rate of 26%. Our ability to drive higher revenues on a structurally
reduced fixed costs basis enabled us to achieve improved profitability, resulting in an
adj. EBITDA of €29.1m and an adj. EBITDA margin of 30%. Our commitment to privacy-first
advertising solutions, which result in better outcomes for our clients, is the main
driver of this success. This is evidenced by a strong increase in the number of large
software clients, which grew by 33% to 851, while the number of ad impressions increased
by 24% to 224 billion. Based on our expanded customer reach, as well as further customer
onboardings driven by our ongoing investments into privacy-first targeting solutions, we
expect continued robust organic growth in the years to come. As a result, we raise our
2024 full-year guidance to €400 million-€420 million in revenues and €125 million-€135
million in adj. EBITDA. Our growth journey has just begun..." commented Remco
Westermann, CEO of Verve.
KEY FIGURES Q2 2024
2024 2023 2024 2023 2023
In €m Q2 Q2 H1 H1 FY
Net Revenues 96.6 76.2 179.0 144.9 322.0
Y-o-Y Growth in Revenues 27% -2% 24% 1% -1%
EBITDA 28.1 20.0 48.3 37.4 128.5
EBITDA Margin 29% 26% 27% 26% 40%
Adj. EBITDA 29.1 21.3 51.1 40.4 95.2
Adj. EBITDA Margin 30% 28% 29% 28% 30%
EBIT 19.6 12.8 31.9 23.9 99.0
EBIT Margin 20% 17% 18% 16% 31%
Adj. EBIT 23.2 16.6 39.8 31.7 76.9
Adj. EBIT Margin 24% 22% 22% 22% 24%
Net Result 6.3 1.5 6.9 2.1 46.2
Net Result Margin 6% 2% 4% 1% 14%
Adj. Net Result 8.8 4.0 11.9 7.0 57.4
Adj. Net Result Margin 9% 5% 7% 5% 18%
FINANCIAL GUIDANCE
FY2023 Initial Guidance Second Guidance Third Guidance
2024 2024 (post Jun) 2024
In €m
Revenue 322 350-370 380-400 400-420
Adj. EBITDA 95 100-110 115-125 125-135
The Interim Report Q2 2024 is available on Verve’s corporate website
at https://investors.verve.com/investor-relations/financial-reports-and-presentations/in
the Investor Relations section.
VERVE’S 2024 CAPITAL MARKETS DAY
Verve's Capital Markets Day starts today at 10 am (CEST). The management team as well as
external experts will discuss the latest developments within Verve and the advertising
industry. Join us to dive deeper into Verve's mission "Lets' make media better" and gain
a deeper insight into Verve's strategic direction and growth potential.
The event will be broadcast online and can be accessed via the following link:
https://ir.financialhearings.com/verve-cmd-2024/register
After the event, the video will be available on-demand to investors on Verve’s corporate
website at
https://investors.verve.com/investor-relations/financial-reports-and-presentations/ in
the Investor Relations section.
Responsible parties
The information in this press release has been made public through the agency of the
responsible person set out below for publication at the time stated by Verve's news
distributor EQS Newswire at the publication of this press release. The responsible
person below may be contacted for further information.
For further information, please contact:
Sören Barz
Head of Investor Relations
+49 170 376 9571
[email protected]
www.investors.verve.com
About Verve
Verve ("Verve" or the "Company", ISIN: SE0018538068; ticker: VER / M8G) is a
fast-growing, profitable digital media company that provides AI-driven ad-software
solutions. Verve matches global advertiser demand with publisher ad-supply, enhancing
results through first-party data from its own content. Aligned with our mission, "Let’s
make media better," the company focuses on enabling better outcomes for brands,
agencies, and publishers with responsible advertising solutions, with an emphasis on
emerging media channels. Verve’s main operational presence is in North America and
Europe, and it is registered as a Societas Europaea in Sweden (registration number
517100-0143). Its shares are listed on the Nasdaq First North Premier Growth Market in
Stockholm and the Scale segment of the Frankfurt Stock Exchange. The company has two
secured bonds listed on Nasdaq Stockholm and the Frankfurt Stock Exchange Open Market.
Verve's certified advisor on the Nasdaq First North Premier Growth Market is FNCA Sweden
AB; contact info: [email protected].
Forward-looking statements
This release contains forward-looking statements that reflect the Company's intentions,
beliefs, or current expectations about and targets for the Company's and the group's
future results of operations, financial condition, liquidity, performance, prospects,
anticipated growth, strategies and opportunities and the markets in which the Company
and the group operates. Forward-looking statements are statements that are not
historical facts and may be identified by words such as "believe", "expect",
"anticipate", "intend", "may", "plan", "estimate", "will", "should", "could", "aim" or
"might", or, in each case, their negative, or similar expressions. The forward-looking
statements in this release, including the pro-forma financial figures addressed therein,
are based upon various assumptions, many of which are based, in turn, upon further
assumptions. Although the Company believes that the expectations reflected in these
forward-looking statements and pro-forma financial numbers are reasonable it can give no
assurances that they will materialize or prove to be correct. Because these statements
are based on assumptions or estimates and are subject to risks and uncertainties, the
actual results or outcome could differ materially from those set out in the
forward-looking statements as a result of many factors. Such risks, uncertainties,
contingencies and other important factors could cause actual events to differ materially
from the expectations expressed or implied in this release by such forward-looking
statements. The Company does not guarantee that the assumptions underlying the
forward-looking statements in this release (including the pro-forma financial figures)
are free from errors and readers of this release should not place undue reliance on the
forward-looking statements in this release. The information, opinions and
forward-looking statements that are expressly or implicitly contained herein speak only
as of its date and are subject to change without notice. Neither the Company nor anyone
else undertake to review, update, confirm or to release publicly any revisions to any
forward-looking statements to reflect events that occur or circumstances that arise in
relation to the content of this release, unless it is so required by law or applicable
stock exchange rules.
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29.08.2024 CET/CEST Veröffentlichung einer Corporate News/Finanznachricht, übermittelt
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Sprache: Deutsch
Unternehmen: Verve Group SE
c/o Match2One AB, Stureplan 6
114 35 Stockholm
Schweden
Telefon: +491703769571
E-Mail: [email protected]
Internet: www.mgi-se.com
ISIN: SE0018538068
WKN: A3D3A1
Börsen: Freiverkehr in Düsseldorf, Frankfurt (Scale), Tradegate Exchange;
FNSE
EQS News ID: 1977245
Ende der Mitteilung EQS News-Service
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1977245 29.08.2024 CET/CEST