Invibes Advertising : H1 2020 results.
Press release
H1 2020 results
- Growth outperforms the market
- Pushing ahead with innovation to boost sales
- EBITDA improves despite difficult health environment
- Solid financial structure underpinning development
- New strategic recruitments to flesh out pan-European offer
London, 29 September 2020 - Invibes
Advertising, an advanced technology company specialising in digital
in-feed advertising, today reported its results for the first half
of 2020.
The interim financial report is available on the Company’s
website https://www.invibes.com/uk/uk/investors.html
Unaudited consolidated data, in
€kIFRS |
H1 2020 |
H1 2019 |
Δ |
Revenue |
3,663 |
3,610 |
+1% |
Purchasing and external expenses |
(1,942) |
(2,038) |
-5% |
Personnel expenses |
(1,672) |
(1,715) |
-3% |
EBITDA 1 |
(58) |
(135) |
NA |
Operating profit |
(427) |
(398) |
NA |
Group net income (expense) |
(515) |
(415) |
NA |
Growth outperforms the market
Invibes Advertising chalked up organic
consolidated revenue growth of +1.6 % to €3.7 million in the first
half of 2020. This performance was all the more remarkable when
compared to the 17% slump in the French display and video
advertising market during the period2, a trend mirrored in other
European markets in which the Group operates.
This fine showing was the result of proactive
efforts on the sales front, underpinned by two strategic levers:
the ongoing drive to win new business in the form of a host of
major international brands and the renewed confidence among
existing clients.
Pushing ahead with innovation to boost
sales
To preserve its strong sales momentum, Invibes
Advertising pushed ahead with its innovation efforts in H1,
creating a raft of new, non-intrusive advertising formats aimed at
generating heightened user engagement and enhancing the efficiency
of the advertising campaigns managed on behalf of its clients.
Invibes Advertising notably created Invibes
Chatbot, a new format enabling users to communicate using
preconfigured messages, thereby offering unique, interactive
experiences.
EBITDA improves despite difficult health
environment
Invibes Advertising chalked up a €77k increase
in EBITDA to -€58k in the first half of 2020, up from -€135k in H1
2019, thanks to its firm hand on operating expenses during the
period. This performance is especially noteworthy in light of the
team structuring initiatives underway to support its expansion in
Europe. As a reminder, the Company now operates in eight countries
(France, Spain, Germany, Switzerland, the UK, Italy, Belgium and
Luxemburg).
The Group recruited 11 new staff in H1 2020,
raising its total headcount to 84 at end-June.
Taking into account the €349k charge for
amortisation and depreciation, Invibes Advertising recorded
operating income of -€427k, which is practically stable compared to
H1 2019.
Net income came to -€515k.
Solid financial structure underpinning
development
Despite substantial investments in R&D to speed up its
expansion, the Group continues to boast a solid financial
structure, with shareholders’ equity of €6.8m and a net cash
position of €2.4m at end-June 2020.
New strategic recruitments to launch pan-European
offering
To meet the high expectations of international
brands seeking solutions for pan-European advertising campaigns,
Invibes Advertising appointed Yuri Loburets to the newly-created
role of Group Sales Director. His mission will be to rapidly deploy
a sales team and put together a pan-European sales organisation,
underpinned by the Group’s solid footprint in eight European
countries. This cross-cutting approach spotlights the vertical
nature of Invibes Advertising’s offering per sector, targeting
major international brands, whether or not they are already Group
clients. The implementation of these pan-European solutions in the
near future should fuel natural growth in average ad campaign
budgets.
Yuri Loburets brings 15 years’
experience in advertising, media, and marking technology,
specialising in strategic sales and developing international
partnerships. Before joining Invibes Advertising, he worked for
Egta, a Brussels-based trade organisation that represents more than
150 major TV/video and radio/audio advertising companies worldwide.
Prior to that, Yuri held executive sales positions in major
television, radio and online media companies, as well as at
Communicorp group and International Commercial Television
(ICTV).
CSO appointed in Hamburg to help drive expansion in
Germany
Invibes Advertising has had a presence in
Germany since 2018 and now has a foothold in four cities (Munich,
Düsseldorf, Frankfurt and Hamburg), ensuring full coverage of this
highly strategic market for the Group. Indeed, Germany is one of
the biggest markets in Europe in terms of ad-spend.
With a view to strengthening its commercial
firepower in the country, Invibes Advertising has appointed Ravi
Ahluwalia to the position of Chief Sales Officer of the Hamburg
office.
Ravi Ahluwalia has more than 20
years’ experience in business development, notably in advertising,
marketing and social networks. Before joining Invibes Advertising,
Ravi was Head of Sales at Emetriq, a subsidiary of Deutsche Telekom
group, specialising in retargeting marketing and data monetization.
Prior to that, he was Director and member of the Management
Committee of Facelift, one of the world leaders in social media
management. Ravi also headed Rosenzweig & Schwarz, a brand
management specialist, before co-founding and directing CleverFox,
an on-demand marketing services firm.
2020 Outlook
Although the precise impact of the epidemic on
Invibes Advertising's business activity remains hard to gauge, the
Group is actively pursuing efforts to take full advantage of the
rebound in the advertising market once the situation starts
gradually returning to normal. Provided the health situation
stabilises, the company has all the levers at its disposal to
continue chalking up strong performances in future and set a course
for long-term growth.
About Invibes Advertising
Invibes Advertising is an advanced technology company that
specializes in digital advertising. Its innovative solutions are
supported by an in-feed format that’s integrated into media
content.
Invibes is inspired by social network advertising and develops
its own technology to help brands better communicate with
consumers. Its technology is optimized for distributing in a closed
network of media sites, including: Bertelsmann, Hearst, Unify,
Groupe Marie Claire, Axel Springer, and many others. Clients
include major brands such as Mercedes, Samsung, Levis, and IBM.
Founded in 2011, Invibes Advertising is a listed company on the
Euronext Paris stock exchange (Ticker: ALINV – ISIN: BE0974299316).
Visit www.invibes.com for more information.
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to:https://www.invibes.com/uk/uk/investors.html
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Financial & Corporate Contacts:
Invibes Advertising Kris Vlaemynck,
CFOkris.vlaemynck@invibes.com
Listing SponsorAtout CapitalRodolphe
OSSOLArodolphe.ossola@atoutcapital.com+ +33 (0) 1 56 69 61 80
Group Investor RelationsActifinAlexandre
Commerotacommerot@actifin.fr + +33 (0) 1 56 88 11 11
Financial Media RelationsActifinJennifer
Julliajjullia@actifin.fr+ +33 (0) 1 56 88 11 19
1 EBITDA = Earnings before Interest, Tax, Depreciation,
Amortisation and provisions.
2 SRI (French union of online ad networks) – 24th edition of
“Observatoire de l’e-pub” (Overview of e-advertising sector)
- 2020 09 29 - PR - Invibes Advertising - EN
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