AI assistant
VOGO Earnings Release 2019
1758_iss_2020-02-11_b264ff96-afd0-46e4-afbc-9bfc7a72b002.pdf
Earnings Release
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Montpellier, February 11, 2019
VOGO: 139% growth in revenue in 2019 (+76% on like-for-like1 )
Proforma2 revenue: €6.7m
VOGO (Code ISIN: FR0011532225 - Ticker: ALVGO) has announced its consolidated revenue for FY 2019 (unaudited figures).
Over 2019, VOGO recorded a 139% surge in revenue to €1.8m. This solid performance testifies to the excellent momentum generated by VOGO's historical business scope, organic revenue growth having reached 76%. This fine showing also reflects the contributions made over two months by VOKKERO® , the business acquired at end October 2019.
Organic growth of 76% in 2019: VOGO confirms ramp-up in video solutions
On a like-for-like basis (i.e. excluding VOKKERO® , which was consolidated in the accounts from November 1, 2019), VOGO's video business generated revenue growth of 76% to €1,313k compared with €746k3 in 2018.
This increase was driven by the sharp acceleration in championship-related activity, as highlighted by the roll-out of the solution at the Johan Cruyff Arena (Netherlands) and across several professional sports clubs in Europe (football, rugby, ice hockey, etc.). Billings increased from €416k in 2018 to €786k in 2019. It is worth noting that the level of recurrence in these billings again reached 100% relative to the previous year. Meanwhile, VOGO chalked up revenue of €393k in the major events segment. This activity recorded growth of 145% relative to 2018, fuelled notably by international business which accounted for 40% of revenue generated, and notably included the U20 (Poland) and U17 (Brazil) Soccer World Cups, the Formula 1 Grand Prix (Singapore), and the Final of the Davis Cup by Rakuten in tennis (Spain). Finally, revenue generated via indirect channels remained stable in 2019, at €107k. The ramp-up in this sales outlet will be a priority in 2020, underpinned by established partnerships with major players worldwide and the development of synergies with the distribution network brought by VOKKERO® and already in position.
VOGO also confirms traction gained by VOKKERO® audio solutions for professionals
Consolidated in the group's accounts from November 1, 2019, VOKKERO's® audio business line contributed €473m to annual revenue in 2019. VOKKERO® generated a total of €5,420k in revenue over the full year.
1 Like-for-like revenue excludes contributions from VOKKERO® which was consolidated into the Group's accounts from November 1, 2019. Note that VOGO generated revenue of €746k in 2018.
2 Proforma 2019 revenue includes the top-line contribution made by VOKKERO® over 2019 as a whole, i.e. €5.42m.
3 Between April 23, 2019 and September 17, 2019, the Company referred to Revenue from Activities in its financial communications, this figure being comprised of Revenue and the Proceeds of sale-leaseback, as recommended by its Statutory Auditors. As of January 1, 2020, the Company will only be referring to its Revenue in its financial communications.
Press Release
Montpellier, February 11, 2019
The last few months of the year saw the company win several major client references (UEFA Europa League for seasons 2020 and 2021, major rugby and football clubs, such as Juventus Turin, the World Women's Handball Championship, etc.) which will help drive growth as of 2020.
A new combine with proforma revenue of nearly €7m
Including VOKKERO® over the full year, VOGO generated revenue of €6.7m in 2019. 2020 will therefore see VOGO take on new dimensions. The integration of VOKKERO® 's teams and products will give the Group a fresh boost in the professional sports sector worldwide. In addition, the complementary nature of the companies' offerings opens up promising prospects in the industry and services sectors, in which VOKKERO® is already a recognised name and has a solid commercial footing.
In the second half of last year, VOGO extended its reach in the North American market via its New York-based subsidiary VOGO NORTH AMERICA. In recent months, VOGO SPORT's video solution has been tested during matches held by the main professional and university sports leagues. With efforts underway to strengthen teams in this strategic zone shortly, the Group will be ideally placed to gain from the sizeable growth harboured in this market.
In addition to these synergies, the Group will be launching a new technology solution in 2020, combining video and audio, which will further bolster its potential to win new business.
Strategy plan to be presented on March 31, 2020
In light of these extremely favourable prospects, both in France and abroad, VOGO will be presenting its new strategy plan and ambitions to the market at the annual earnings presentation scheduled for March 31st .
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About VOGO
VOGO develops, markets and distributes live & replay, audio and video solutions for spectators and professionals in sports arenas. VOGO's disruptive solution for spectators transforms the stadium experience by providing multicamera content on demand for viewing on tablets and smartphones, irrespective of the number of people connected. In the professional sphere, VOGO's video solution provides analytical and decision-making tools (referee assistance, medical diagnostics, coaching, etc.). The acquisition of Vokkero® in October 2019 enriched this range of professional solutions, with the integration of an internationally recognised line of audio communications systems. All of the Group's technologies have patent protection. They have already been implemented across more than 20 different sport disciplines. VOGO is present in France (Montpellier and Crolles) and in North America, with an office in New York. The Group has been listed on the Euronext Growth Paris stock market since November 2018 (ISIN code: FR0011532225 – ALVGO).
For more information: www.vogo-group.com
Press Release
Montpellier, February 11, 2019
Contacts
VOGO Christelle Albinet Tel: +33(4) 67 50 03 98 Email: [email protected] ACTIFIN – Press Relations Jennifer Julia Tel: +33(1) 56 88 11 19 Email: [email protected]
ACTIFIN - Financial Communications Victoire Demeestère / Stéphane Ruiz Tel: +33(1) 56 88 11 11 Email: [email protected]