Net Revenues increased by 27% to 96.6 (76.2) €m
-> 26% fx adjusted Organic Revenue Growth (Q2’23: 1%)
-> 33% increase in number of Software Clients to 851 (Q2’23: 642)
-> 24% increase in Ad Impressions to 224 billion (Q2’23: 181 billion)
Adjusted EBITDA increased by 37% to 29.1 (21.3) €m
-> Structurally improved EBITDA margin of 30% (Q2’23: 28%) due to growing operating leverage
-> Adjusted Net Debt Leverage Ratio reduced to 2.8x (June 2023: 3.2x)
-> Adj. Net result amounted to 8.8 (Q2’23: 4.0) €m, an increase of 122%
-> Earnings per Share of 0.04 (Q2’23: 0.01) €, an increase of 308%
STOCKHOLM, SWEDEN - EQS Newswire - 12 August 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 a financial update in advance to the publication of its Interim Report Q2 2024 on 29 August.
KEY FIGURES Q2 2024
QUOTE FROM THE CEO
“With 96.6 €m 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 29.1 €m and an adj. EBITDA margin of 30%. Our commitment to privacy first advertising solutions which results 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 increased 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 Guidance 2024 to 400-420 million revenues and 125-135 million adj. EBITDA. Our growth journey has just begun...” commented Remco Westermann, CEO of Verve.
The full Interim Report Q2 2024 will be published on the 29 August on Verve’s corporate website at https://investors.verve.com/investor-relations/financial-reports-and-presentations/ in the Investor Relations section.
Responsible parties
This information constitutes inside information that Verve Group SE is obliged to make public in accordance with the (EU) Market Abuse Regulation 596/2014. 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.
The issuer is solely responsible for the content of this announcement.
