Dékuple: 2024 FIRST-HALF BUSINESS
2024 FIRST-HALF BUSINESS
_____
Net sales: €104.6m (+8.8%)
Gross margin: €83.5m (+5.8%)
Strong gross margin growth for digital marketing
(+18.6%)
Paris, 30 August 2024 (6pm) - The
DÉKUPLE Group, a cross-channel data marketing expert, is today
reporting its net sales for the first half of 2024.
Bertrand Laurioz, Chairman and CEO: “Despite
a difficult environment, DÉKUPLE had an excellent first half of
2024, with consolidated net sales of €104.6m, up +8.8% from the
previous year, and a gross margin of €83.5m, following +5.8%
growth.
The continued expansion of our digital
marketing activities is still a key factor behind this performance.
These activities now represent 63.5% of our consolidated half-year
net sales, with their gross margin up +18.6%. This growth
highlights the relevance and effectiveness of our data marketing
solutions that combine multiple areas of expertise, aligned with
the complex challenges facing our clients, particularly in terms of
data and artificial intelligence.
Our Consulting services are continuing to
build on their robust growth, with their gross margin climbing
+13.6%, driven by the diversification of their areas of expertise.
Our marketing solutions and agencies show sustained growth of
+23.8%, benefiting from the expansion of our technological
solutions, the international development of our sales, and the
integration of new areas of expertise within the Group, thanks in
particular to the consolidation of Groupe Grand Mercredi and the
agency Le Nouveau Bélier since summer 2023.
In the Magazine business, despite the
challenges facing the press sector, we are continuing to make
significant investments by renewing our offers to consolidate our
subscription portfolio. In terms of our Insurance business, we are
continuing to develop our supplementary health offering, supported
by an innovative marketing approach.
More widely, we are further strengthening
our capacity for innovation, focusing in particular on Artificial
Intelligence. For over a year and a half, we have been making
significant investments in this area, continuing to train our teams
and developing our two AI Factories. Thanks to our training and
support services, DÉKUPLE stands out as a benchmark in this area,
supporting a growing number of brands with their digital
transformation.
We are still strongly committed to our
development strategy, combining organic growth and strategic
acquisitions, with a view to further strengthening our position as
a European leader for data marketing and expanding our presence
alongside our global clients. With our solid fundamentals and the
outstanding skills of our team of over 1,000 staff, we are
confident that we will be able to achieve a further year of
profitable growth in 2024”.
FIRST-HALF KEY FIGURES
The DÉKUPLE Group is reporting €104.6m in net
sales1 for the first half of 2024, up +8.8%. The Group’s
gross margin2 came to €83.5m, up +5.8% year-on-year.
Breakdown of the change in the Group’s
net sales by business line:
€m |
H1 2024 |
H1 2023 |
Change |
Digital Marketing |
66.4 |
55.5 |
+ 19.7% |
Magazines |
34.1 |
36.5 |
- 6.4 % |
Insurance |
4.0 |
4.2 |
- 3.8 % |
Net sales |
104.6 |
96.1 |
+ 8.8% |
Breakdown of the change in the Group’s
gross margin by business line:
€m |
H1 2024 |
H1 2023 |
Change |
Digital Marketing |
45.3 |
38.2 |
+ 18.6% |
Magazines |
34.1 |
36.5 |
- 6.4% |
Insurance |
4.0 |
4.2 |
- 3.8% |
Gross margin |
83.5 |
78.9 |
+ 5.8% |
DIGITAL MARKETING: ROBUST GROWTH AND
DIVERSIFICATION OF OUR OFFERS
The Digital Marketing business continues to show
solid trends for growth, with a gross margin of €45.3m, up +18.6%
from the first half of 2023.
Consulting services recorded a gross margin of
€23.5m, up +13.6%, reflecting the sustained development of the
subsidiary Converteo. A major player for data and digital strategy
consulting, Converteo has more than 450 consultants supporting
leading brands to meet the challenges involved with data and AI.
This subsidiary is also diversifying its offers, with the launch of
new verticals to meet the diverse needs of its current and future
clients, while further strengthening its international presence
through the creation of a subsidiary in the United States and the
opening of two offices in New York and Montreal.
The Marketing Solutions and Agencies business in
France generated a gross margin of €19.7m, up +23.8%. This growth
factors in a scope effect3 for €2.2m, linked to the
consolidation since July 2023 of Groupe Grand Mercredi, a marketing
expert for over 50s, and Le Nouveau Bélier, a leading advertising
strategy consulting agency and retail expert. On a like-for-like
basis, all of the offers recorded +10.2% growth, driven primarily
by the development of activities in China and the expansion of
technological solutions in France and internationally. These
advances are reflected in particular in sustained growth for the
innovative solutions offered by Smart Traffik (Okube) and Rocket
Marketing, which further strengthened its offering in the third
quarter with its acquisition of a specialist automated Netlinking
platform.
Marketing Services in Spain generated a gross
margin of €2.2m, up +30.5%, reflecting the change in the marketing
mix to support stronger value-added services.
Gross margin (€m) |
H1 2024 |
H1 2023 |
Change |
Consulting - France |
23.5 |
20.7 |
+ 13.6% |
Marketing Solutions and Agencies - France |
19.7 |
15.9 |
+ 23.8% |
Marketing Solutions and Agencies - Spain |
2.2 |
1.7 |
+ 30.5% |
Digital Marketing gross margin |
45.3 |
38.2 |
+ 18.6% |
MAGAZINES: INVESTMENTS CONTINUING TO
MOVE FORWARD IN A CHALLENGING ENVIRONMENT
The gross margin for the Magazine business is
down -6.4% from the first half of 2023 to €34.1m, while the gross
sales volume4 came to €91.1m, down -6.4%. This
contraction is less marked than for the active open-ended
subscription portfolio, which was down 10% to 1.901 million
subscriptions at 30 June 2024. This difference reflects the
increase in publishers’ prices and the higher number of special
edition publications during the first half of 2024 compared with
the previous year. In an unfavorable context, the marketing
campaigns are being maintained on the most profitable client
segments, with new offers and new partners, to support the
portfolio of contracts and consolidate the Group’s essential role
alongside press publishers.
INSURANCE: GROSS MARGIN STABLE AND
INNOVATIONS FOR HEALTH INSURANCE
DÉKUPLE Assurance, the subsidiary specialized in
data marketing affinity insurance brokerage, recorded a gross
margin of €4.0m, following a slight contraction of -3.8% compared
with the previous year. Its innovative marketing approach for
Health insurance is helping support the policyholder portfolio.
OUTLOOK
The DÉKUPLE Group is continuing to move forward
with its Ambition 2025 strategy with a view to becoming a European
leader for data marketing. With solid financial resources in place,
the Group is continuing to invest in its Magazine and Insurance
activities to develop its portfolios of contracts generating
recurrent revenues. Alongside this, it is actively supporting the
development of its Digital Marketing solutions, through both
organic growth and strategic acquisitions. Discussions are underway
to explore opportunities for developments or acquisitions in France
and elsewhere to further strengthen the Group’s capacity to support
its clients with their international expansion.
About DÉKUPLE
DÉKUPLE is a European leader for cross-channel data marketing. Its
expert capabilities combining consulting, creativity, data and
technology enable it to support brands with the transformation of
their marketing to drive their business performance. The Group
designs and implements customer acquisition, loyalty and
relationship management solutions for its partners and clients
across all distribution channels. The Group works with more than
500 brands, from major groups to mid-market firms, in Europe and
around the world.
Founded in 1972, DÉKUPLE recorded net sales of €200m in 2023.
Present in Europe and China, the Group employs more than 1,000
people guided by its core values: a conquering spirit, respect and
collaboration.
DÉKUPLE is listed on the regulated market Euronext Paris –
Compartment C. ISIN: FR0000062978 – DKUPL - www.dekuple.com
Contacts
DÉKUPLE
Investor Relations & Financial Information
tel: +33 (0)1 41 58 72 03 - relations.investisseurs@dekuple.com
Calyptus
Cyril Combe - tel: +33 (0)1 53 65 68 68 - dekuple@calyptus.net
1 Net sales (determined in line with the French
professional status for subscription sales) only include the amount
of remuneration paid by magazine publishers; for subscription
sales, net sales therefore correspond to a gross margin, deducting
the cost of magazines sold from the amount of sales recorded. For
acquisition and management commissions linked to sales of insurance
policies, net sales comprise current and future commissions issued,
acquired by the accounting reporting date, net of
cancellations.
2 For the digital marketing business, the gross margin represents
the total amount of net sales (total invoices issued: fees,
commissions and purchases charged back to customers) less the total
amount of costs for external purchases made on behalf of customers.
It is equal to net sales for the magazine and insurance business
lines.
3 The scope effect is calculated (i) by eliminating the net sales
of companies acquired during the period or the comparable period
and (ii) by eliminating the net sales of companies sold during the
period or the comparable period. As a result, the like-for-like
business does not take into account this scope effect for the
period concerned.
4 Gross sales volume represents the value of subscriptions
sold.
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