AI Terminal
Targetspot S.A.
Earnings Release • Jan 27, 2020
4007_iss_2020-01-27_73865dc3-a919-4f69-ac05-4a04bcdec2ae.pdf
Earnings Release
Open in ViewerOpens in native device viewer
Press release
January 27, 2020 - 17:40 CET
AudioValley : Sébastien Veldeman [email protected] Actifin : Victoire Demeestère [email protected]
(excluding Storever in December)
Growth of +29.4%, excluding the sold activity
A winning strategy for Targetspot: +42% in H2 2019 of which +43.7% in Q4 2019
2020: continued strong growth expected in line with 2019 and a significant improvement in operating profitability
AudioValley, an international specialist in BtoB digital audio solutions (ISIN Code: BE0974334667/Ticker: ALAVY), published its 2019 full-year turnover today.
2019: excellent growth momentum
For greater clarity around its figures, in addition to the published data, the Group also presented its likefor-like financial data after restatement for scope effects linked to the sale of Storever at the start of December 2019, which can be read as if Storever was not consolidated in financial years 2018 and 2019.
For full-year 2019 therefore, the Group posted like-for- In
| Turnover figures) |
Like-for-like data | Reported data | |||||
|---|---|---|---|---|---|---|---|
| 2019 | % of turnover 2019 |
2018 | Change 2019/2018 |
2019 | 2018 | Change 2019/2018 |
|
| Targetspot | 19,224 | 88% | 14,157 | +35.8% | 19,224 | 14,157 | +35.8% |
| Storever | - | - | - | - | 7,067* | 7,666 | -7.8%* |
| Jamendo | 2,694 | 12% | 2,783 | -3.2% | 2,694 | 2,783 | -3.2% |
| Group total | 21,918 | 100% | 16,940 | +29.4% | 28,986 | 24.606 | +17.8% |
*Storever was sold in December 2019 and its activity is not consolidated in December 2019.
Targetspot (88% of 2019 like-for-like turnover): growth in the second half of 42.1%
During the fourth quarter of 2019, sales momentum accelerated at Targetspot, a solution designed to aggregate and monetise digital audio audiences (digital radio and podcasts). After growth of +28.6% in the first quarter and +39.9% in the third quarter, the division generated turnover of , an increase of +43.7% in relation to the fourth quarter of 2018.
Press release
January 27, 2020 - 17:40 CET
AudioValley : Sébastien Veldeman [email protected] Actifin : Victoire Demeestère [email protected]
This excellent performance over the year was underpinned by continued strong activity in the US (+ 6k) (+54.4 The sharp growth seen in Europe reflects very strong potential on a market that is still in take-off phase and the and the UK). These markets saw confirmation of their potential throughout the year, with big contracts signed with major European digital audio players (SoundCloud, Deezer, etc.), the impact of which was still limited in the past year.
Jamendo (12% of 2019 like-for-like turnover): recovery still in process
Jamendo, the platform for the management of music rights and marketing of music licences, generated full- -3.2%. This performance falls short of the Group's estimate, but it has yet to factor in the benefits of the measures taken during the year (adoption of the status of an independent management entity which will enable Jamendo to broaden its scope of activity in managing and monetising music rights, and the arrival of a new CEO). In November, AudioValley purchased all non-controlling shares in the entity (28.84% of the capital), confirming the potential.
Outlook for 2020: strong growth expected in line with 2019 and a significant improvement in operating profitability
« We reached some major milestones in 2019.
With the sale of Storever, AudioValley is now focused on fully digital audio activities and will benefit fully starting in 2020 from the stronger growth momentum on this market.
Thanks to the early repayment of our main maturity due to Vivendi, we stand to benefit from the negotiated maximum discount of
r, and growth of over 35%, Targetspot has kept its promises. In 2019, we strengthened our positions on the US market and bolstered our sales efforts in Europe. We are now ideally placed to benefit from the strong traction on the digital audio market in these strategic areas.
Concerning Jamendo, our teams are in place and we are fully committed to applying substantial stimulus measures for this division which shows strong potential.
» We expect strong growth this year in line with that achieved in 2019. 2020 will also see a significant improvement in our operating
Alexandre Saboundjian CEO and founder of AudioValley
p 2
Press release
January 27, 2020 - 17:40 CET AudioValley : Sébastien Veldeman [email protected] Actifin : Victoire Demeestère [email protected]
NEXT EVENT
FY 2019 RESULTS April 21, 2020, after trading
CONTACTS
AUDIOVALLEY Sébastien Veldeman + 32 (0) 2 466 31 60 [email protected]
ACTIFIN, financial communication Victoire Demeestère +33 (0)1 56 88 11 11
ACTIFIN, financial press relations Jennifer Jullia +33 (0)1 56 88 11 19 [email protected] [email protected]