Dékuple: 2021 NINE-MONTH NET SALES: €117.1M (+18.2%)
2021 NINE-MONTH NET SALES: €117.1M
(+18.2%)
- THIRD-QUARTER GROWTH OF +21.5%
- DIGITAL MARKETING UP +46% OVER NINE
MONTHS
Paris, 26 November 2021 (5:45pm) - The
DÉKUPLE Group, a cross-channel data marketing expert, is reporting
its revenues for the first nine months of 2021.
Bertrand Laurioz, Chairman and CEO: “DÉKUPLE
maintained its excellent performance during the first nine months
of the year. Net sales at end-September are up 18.2% year-on-year,
with all of our business lines contributing to this strong
growth.
The Digital Marketing business achieved 46%
growth, representing 43.3% of net sales at end-September 2021,
compared with 35% at end-September 2020. The Group has continued to
build on its strong organic growth in the Consulting business,
while benefiting from its extended operational scope for Marketing
Engineering following the acquisitions made over the last year. The
highly recurrent portfolio-based activities recorded solid
performance levels, with 2.1% growth for the Magazine business,
driven by the model’s transition towards sales through
partnerships, and 21.2% growth in the Insurance business, with a
focus on developing the product mix.
With the launch of our new brand DÉKUPLE, then
the creation of DÉKUPLE Ingénierie Marketing in October and DÉKUPLE
Assurance’s operation to buy out QAPE’s assets in November, our
Group is continuing to further strengthen its activities and is
ideally positioned to continue with our growth around data, digital
and technology in line with our Ambition 2025 to double our Group’s
scale and become a leader for data marketing in Europe”.
KEY FIGURES FOR THE FIRST NINE
MONTHS
The DÉKUPLE Group maintained its strong growth
in the third quarter of 2021, with net sales1 of €41.6m, up +21.5%
versus the third quarter of 2020. For the first nine months of the
year, consolidated net sales totaled €117.1m, up +18.2% compared
with the first nine months of 2020. The gross sales volume2 came to
€229.7m, up +11.0%. The gross margin3 climbed 13.6% to €97.2m.
Breakdown of the change in the Group’s
net sales by business line for each quarter:
€m |
2021 |
2020 |
Change |
First quarter |
37.8 |
35.6 |
+6.1% |
Second quarter |
37.8 |
29.2 |
+29.1% |
Third quarter |
41.6 |
34.2 |
+21.5% |
Nine-month total |
117.1 |
99.1 |
+18.2% |
Of which: |
|
|
|
Magazines |
61.6 |
60.3 |
+2.1% |
Digital Marketing |
50.7 |
34.7 |
+46.0% |
Insurance |
4.9 |
4.0 |
+21.2% |
Breakdown of the change in net
sales by region:
€m |
9M 2021 |
9M 2020 |
Change |
France |
105.4 |
90.5 |
+16.5% |
Spain |
11.7 |
8.6 |
+36.2% |
Net sales |
117.1 |
99.1 |
+18.2% |
Breakdown of the change in the Group’s
gross margin by business line:
€m |
9M 2021 |
9M 2020 |
Change |
Magazines |
61.6 |
60.3 |
+2.1% |
Digital Marketing |
30.7 |
21.2 |
+44.9% |
Insurance |
4.9 |
4.0 |
+21.2% |
Gross margin |
97.2 |
85.6 |
+13.6% |
MAGAZINES: EFFECTIVELY MANAGED
GROWTH
The gross margin for the Magazine business is up
2.1% to €61.6m. The development of the partnership based open-ended
subscription business offset the impact of the discontinuation of
prospecting under the France Abonnements brand since 2020 (-€3.2m).
The active open-ended subscription portfolio at end-September is
virtually stable at 2.6 million units, despite a contraction in the
returns achieved on commercial campaigns in 2021.
In thousands of units |
30 Sep 2021 |
30 Sep 2020 |
Change |
Active open-ended subscriptions |
2,567 |
2,629 |
-2% |
DIGITAL MARKETING: STRONG GROWTH
TREND
The gross margin for Digital Marketing
activities is up 44.9% to €30.7m.
Consulting services (€18.7m; +37.3%) have
continued to be ramped up. Against a backdrop of sustained
investment by businesses in data, the subsidiary Converteo is
establishing itself as the benchmark for technology and data
strategy consulting to support marketing, digital and IT
departments, with its team of over 250 consultants, specialists and
experts.
Marketing Engineering services in France (€8.2m;
+96.6%) are progressing, driven by external growth, with the
consolidation of AWE (BtoB digital marketing agency) and Pschhh’s
assets (strategic planning and creation agency) since the second
half of 2020, as well as Reech (expert influence marketing company)
since the third quarter of 2021. The scope effect represents a €4m
positive impact on the gross margin for the first nine months of
2021. Like-for-like, the gross margin is stable.
To further strengthen the potential of its
Marketing Engineering services, the Group has stepped up the
development of synergies between the Group’s business units,
leading to the creation in October 2021 of DÉKUPLE Ingénierie
Marketing, a martech brand agency offering a unique mix of
proprietary solutions combined with the best solutions available on
the market to support brands to develop their business.
Marketing Services in Spain (€3.8m; +11.8%)
recorded robust sales growth, thanks to a more sustained rate of
operations in 2021 compared with the previous year.
Gross margin (€m) |
9M 2021 |
9M 2020 |
Change |
Consulting - France |
18.7 |
13.6 |
+37.3% |
Marketing Engineering - France |
8.2 |
4.2 |
+96.6% |
Marketing Services - Spain |
3.8 |
3.4 |
+11.8% |
Digital Marketing gross margin |
30.7 |
21.2 |
+44.9% |
INSURANCE: FUNDAMENTALS FURTHER
STRENGTHENED
The gross margin for DÉKUPLE Assurance, the
subsidiary specialized in direct marketing affinity insurance
brokerage, is up 21.2% to €4.9m, driven by growth in the
policyholder portfolio and the diversification of the product mix,
with the successful development of the first supplementary health
sales since the end of 2020. The acquisition of QAPE’s insurtech
assets in November 2021 and the innovative benefits of its
supplementary health business will make it possible to accelerate
the development of DÉKUPLE Assurance in the health insurance
sector.
OUTLOOK
The Group is continuing to roll out its
expansion strategy aiming to become a European leader for data
marketing by 2025. With its robust financial resources, it is
effectively positioned to support an aggressive growth strategy in
digital marketing with a view to strengthening its positions in
this sector, while moving forward with its commercial investments
in its portfolio-based activities generating recurrent
revenues.
About DÉKUPLEFounded in 1972,
DÉKUPLE is a major player for cross-channel data marketing. The
Group designs, markets and implements customer acquisition, loyalty
and relationship management services on its own behalf or for its
partners and clients across all distribution channels. Its expert
capabilities enable it to support brands with their marketing
needs, and to create, on its own behalf, portfolios that generate
recurrent revenues. The Group works with two-thirds of the
companies from the CAC 40 and large numbers of mid-market firms.
DÉKUPLE recorded net sales of €139.3m in 2020. Present in France,
Spain and Portugal, the Group employs more than 700 people.DÉKUPLE
is listed on the regulated market Euronext Paris – Compartment C.
ISIN: FR0000062978 - DKUPLwww.dekuple.com
ContactsDÉKUPLE Investor
Relations & Financial Informationtel: +33 (0)1 41 58 72 03 -
relations.investisseurs@dekuple.comCALYPTUSCyril
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
Gross sales volume represents the value of subscriptions and other
products sold. It is equal to net sales for the insurance
business.3 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.
- DEKUPLE CA T3 2021_E_Vdef