Verve Group SE
ISIN: SE0018538068
WKN: A3D3A1
29 August 2024 08:00AM

EQS-News: Verve Publishes Interim Report Q2 2024 With Organic Revenue Growth of 26% and EBITDA Growth of 37%, Capital Markets Day starting 10:00 CEST 

Verve Group SE · ISIN: SE0018538068 · EQS - Company News
Country: Sweden · Primary market: Sweden · EQS NID: 1977245

EQS-News: Verve Group SE / Schlagwort(e): Halbjahresbericht/Quartalsergebnis
Verve Publishes Interim Report Q2 2024 With Organic Revenue Growth of 26% and EBITDA Growth of 37%, Capital Markets Day starting 10:00 CEST 

29.08.2024 / 08:00 CET/CEST
Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich.


August 29, 2024 (08:00 CEST) – Verve Group SE ("Verve" or the "Company", ISIN: SE0018538068; ticker: VER, Inside Information) a fast-growing, profitable digital media company that provides AI-driven advertising-software solutions, publishes its Interim Report Q2 2024.  

FINANCIAL HIGHLIGHTS Q2 2024

  • Net revenue €96.6m (€76.2m), an increase of 27% 
  • Organic net revenue increased by 26%, driven by new Software Clients as well as budget increases from existing Software Clients  
  • Adj. EBITDA €29.1m (€21.3m), an increase of 37%, with an adj. EBITDA margin of 30% (28%) 
  • Adj. EBIT €23.2m (€16.6m), an increase of 40% 
  • Items affecting comparability impacting EBITDA of €1.0m (€1.3m) mainly for legal and ESOP costs 
  • Adj. net result of €8.8m (€4.0m), an increase of 122% 
 
  • Operating Cashflow before changes in WC amounted to €31.2m (€20.8m) 
  • Total net debt, amounted to €299.8m (€307.7m) 
  • Reported leverage ratio of 2.2x (3.6x) 
  • Adj. Leverage Ratio of 2.8x (3.2x) 
  • Cash position amounted to €144.8m (€107.6m)  
  • Earnings Per Share (EPS) amounted to €0.04 (€0.01)   
  • Adj. EPS amounted to €0.05 (€0.02)  
  • Total Assets amounted to €1,059 (€1,003) 
  • Equity Ratio was 38% (32%)  
  • 33% Increase in Software Clients to 851 (642) 
 

QUOTE FROM THE CEO

“With €96.6m in revenues achieved in the second quarter, we have delivered an organic revenue growth rate of 26%. Our ability to drive higher revenues on a structurally reduced fixed costs basis enabled us to achieve improved profitability, resulting in an adj. EBITDA of €29.1m and an adj. EBITDA margin of 30%. Our commitment to privacy-first advertising solutions, which result in better outcomes for our clients, is the main driver of this success. This is evidenced by a strong increase in the number of large software clients, which grew by 33% to 851, while the number of ad impressions increased by 24% to 224 billion. Based on our expanded customer reach, as well as further customer onboardings driven by our ongoing investments into privacy-first targeting solutions, we expect continued robust organic growth in the years to come. As a result, we raise our 2024 full-year guidance to €400 million-€420 million in revenues and €125 million-€135 million in adj. EBITDA. Our growth journey has just begun...” commented Remco Westermann, CEO of Verve

 

KEY FIGURES Q2 2024

  2024  2023  2024  2023  2023 
In €m  Q2  Q2  H1  H1  FY 
Net Revenues  96.6  76.2  179.0  144.9  322.0 
Y-o-Y Growth in Revenues  27%  -2%  24%  1%  -1% 
EBITDA  28.1  20.0  48.3  37.4  128.5 
EBITDA Margin  29%  26%  27%  26%  40% 
Adj. EBITDA  29.1  21.3  51.1  40.4  95.2 
Adj. EBITDA Margin  30%  28%  29%  28%  30% 
EBIT  19.6  12.8  31.9  23.9  99.0 
EBIT Margin  20%  17%  18%  16%  31% 
Adj. EBIT  23.2  16.6  39.8  31.7  76.9 
Adj. EBIT Margin  24%  22%  22%  22%  24% 
Net Result  6.3  1.5  6.9  2.1  46.2 
Net Result Margin  6%  2%  4%  1%  14% 
Adj. Net Result  8.8  4.0  11.9  7.0  57.4 
Adj. Net Result Margin  9%  5%  7%  5%  18% 


FINANCIAL GUIDANCE  

 
 
In €m 
FY2023  Initial Guidance 2024  Second Guidance 2024 
(post Jun) 
Third Guidance 2024 
Revenue   322  350-370  380-400  400-420 
Adj. EBITDA   95  100-110  115-125  125-135 

 

The Interim Report Q2 2024 is available on Verve’s corporate website at https://investors.verve.com/investor-relations/financial-reports-and-presentations/in the Investor Relations section. 

 

VERVE’S 2024 CAPITAL MARKETS DAY 

Verve's Capital Markets Day starts today at 10 am (CEST). The management team as well as external experts will discuss the latest developments within Verve and the advertising industry. Join us to dive deeper into Verve's mission “Lets' make media better” and gain a deeper insight into Verve's strategic direction and growth potential.

The event will be broadcast online and can be accessed via the following link: https://ir.financialhearings.com/verve-cmd-2024/register  

After the event, the video will be available on-demand to investors on Verve’s corporate website at  https://investors.verve.com/investor-relations/financial-reports-and-presentations/ in the Investor Relations section. 

Responsible parties 

The information in this press release has been made public through the agency of the responsible person set out below for publication at the time stated by Verve's news distributor EQS Newswire at the publication of this press release. The responsible person below may be contacted for further information. 

For further information, please contact: 

Sören Barz 
Head of Investor Relations 
+49 170 376 9571 
soeren.barz@verve.com 
www.investors.verve.com 

About Verve 

Verve ("Verve" or the "Company", ISIN: SE0018538068; ticker: VER / M8G) is a fast-growing, profitable digital media company that provides AI-driven ad-software solutions. Verve matches global advertiser demand with publisher ad-supply, enhancing results through first-party data from its own content. Aligned with our mission, “Let’s make media better,” the company focuses on enabling better outcomes for brands, agencies, and publishers with responsible advertising solutions, with an emphasis on emerging media channels. Verve’s main operational presence is in North America and Europe, and it is registered as a Societas Europaea in Sweden (registration number 517100-0143). Its shares are listed on the Nasdaq First North Premier Growth Market in Stockholm and the Scale segment of the Frankfurt Stock Exchange. The company has two secured bonds listed on Nasdaq Stockholm and the Frankfurt Stock Exchange Open Market. Verve's certified advisor on the Nasdaq First North Premier Growth Market is FNCA Sweden AB; contact info: info@fnca.se

Forward-looking statements 

This release contains forward-looking statements that reflect the Company's intentions, beliefs, or current expectations about and targets for the Company's and the group's future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company and the group operates. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "intend", "may", "plan", "estimate", "will", "should", "could", "aim" or "might", or, in each case, their negative, or similar expressions. The forward-looking statements in this release, including the pro-forma financial figures addressed therein, are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that the expectations reflected in these forward-looking statements and pro-forma financial numbers are reasonable it can give no assurances that they will materialize or prove to be correct. Because these statements are based on assumptions or estimates and are subject to risks and uncertainties, the actual results or outcome could differ materially from those set out in the forward-looking statements as a result of many factors. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The Company does not guarantee that the assumptions underlying the forward-looking statements in this release (including the pro-forma financial figures) are free from errors and readers of this release should not place undue reliance on the forward-looking statements in this release. The information, opinions and forward-looking statements that are expressly or implicitly contained herein speak only as of its date and are subject to change without notice. Neither the Company nor anyone else undertake to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this release, unless it is so required by law or applicable stock exchange rules. 

 



29.08.2024 CET/CEST Veröffentlichung einer Corporate News/Finanznachricht, übermittelt durch EQS News - ein Service der EQS Group AG.
Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich.

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Sprache: Deutsch
Unternehmen: Verve Group SE
c/o Match2One AB, Stureplan 6
114 35 Stockholm
Schweden
Telefon: +491703769571
E-Mail: info@mgi-se.com
Internet: www.mgi-se.com
ISIN: SE0018538068
WKN: A3D3A1
Börsen: Freiverkehr in Düsseldorf, Frankfurt (Scale), Tradegate Exchange; FNSE
EQS News ID: 1977245

 
Ende der Mitteilung EQS News-Service

1977245  29.08.2024 CET/CEST

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Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.

The most important financial data at a glance
  2018 2019 2020 2021 2022 2023 2024e
Sales1 32,62 83,89 140,22 252,17 324,44 321,98 416,00
EBITDA1,2 8,65 15,54 26,55 65,04 84,75 128,46 132,00
EBITDA-Margin3 26,52 18,52 18,94 25,79 26,12 39,90 31,73
EBIT1,4 2,33 5,00 11,04 36,80 26,62 99,00 0,00
EBIT-Margin5 7,14 5,96 7,87 14,59 8,21 30,75 0,00
Net Profit (Loss)1 1,58 1,25 2,71 16,06 -20,41 46,22 0,00
Net-Margin6 4,84 1,49 1,93 6,37 -6,29 14,36 0,00
Cashflow1,7 4,93 16,20 25,20 64,84 134,22 69,45 0,00
Earnings per share8 0,09 -0,01 0,03 0,11 -0,12 0,26 0,11
Dividend per share8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de and Company information
Explanation

1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de

Auditor: Deloitte

All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.

INVESTOR-INFORMATION
©boersengefluester.de
Verve Group
WKN ISIN Legal Type Marketcap IPO Recommendation Plus Code
A3D3A1 SE0018538068 SE 591,45 Mio € Halten 9FFW83PF+F9
* * *
PE 2025e PE 10Y-Ø BGFL-Ratio Shiller-PE PB PCF KUV
26,33 23,87 1,10 56,43 1,68 8,52 1,84
Dividends
Dividend '2022
in €
Dividend '2023
in €
Dividend '2024e
in €
Div.-Yield '2024e
in %
0,00 0,00 0,00 0,00%
Financial calendar
Annual General Meeting Q1-figures Q2-figures Q3-figures Annual press conference
11.06.2025 28.05.2025 19.08.2025 28.11.2024 18.04.2024
Performance
Distance 60-days-line Distance 200-days-line Performance YtD Performance 52 weeks IPO
Last Price (EoD)
-1,40%
3,16 €
ATH 6,52 €
-10,19% +23,61% +221,46% +212,25% +172,41%

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