STRONG GROWTH IN PROFITS FOR


PRESS RELEASE
Paris, September 24, 2021 (5:45 p.m.)

ADL / ADLPerformance partner
STRONG GROWTH IN RESULTS IN THE FIRST HALF OF 2021

  • Turnover: € 75.5m (+ 16%)
  • Gross margin: € 63.9m (+ 12%)
  • EBITDA: € 9.3m, or 14.5% of gross margin
  • Net income (Group share): € 4.7m (+ 23%)

Bertrand Laurioz, Chairman and CEO of the ADLPerformance Group: “We achieved both growth and profitability during the first half of 2021. Our Group is making progress in all of its businesses and confirms the strength of its diversified multi-entrepreneur model, combining advice, cross-channel and digital marketing know-how and data expertise at the service of brands.

We still have significant market opportunities and prospects, both in terms of our very recurring portfolio activities and our high-growth digital marketing activities, which should represent more than 50% of our Group’s turnover at the end of the year. 2022.

Over the next few months, we will continue our acceleration towards digital marketing and data marketing, by deploying our solutions and strengthening synergies between our business units. Depending on the opportunities, we will continue our external growth, as illustrated by our recent acquisition of Reech, an expert in influencer marketing, with a view to further strengthening our capacities and our leadership position in a buoyant market.

We are very optimistic about the development of our Group. The progress made, driven by our talented teams and their desire to conquer, effectively reinforces our ambition to become a European leader in data marketing by 2025 ”.

KEY HALF-YEAR DEVELOPMENTS

During the first half of 2021, the Group recorded strong growth in its activity despite the persistence of uncertainties related to the economic and health situation.

Portfolio activities confirmed their robust economic model, supported by recurring revenues. Despite an unfavorable basis of comparison due to the cessation of sales under the France Abonnement brand in 2020, the Magazines activity recorded a growth of 3% in its net turnover and a 1% increase in its portfolio of active subscriptions for an indefinite period thanks to the increase in partnership recruitments. The Insurance activity continued to develop its portfolio of insureds, generating recurring income, and recorded 25% growth in its half-year turnover.

The Digital Marketing activity (marketing and consulting services) generated sales growth of 41%. This performance reflects the strong development of the Converteo subsidiary, leader in the data and digital strategy consulting market, and the extension of the scope of marketing services activities with the integration of AWE (BtoB digital marketing agency) and Pschhh assets (strategic planning and agency creation) since the second half of 2020.

EARNINGS

Consolidated data (M €) S1 2021 H1 2020 Switch
Net sales 75.53 64.84 + 16%
Gross margin 63.89 57.05 + 12%
Restated EBITDA3
% of gross margin
9.25
14.5%
8.48
14.9%
+ 9%
Operating result
% of gross margin
6.89
10.8%
5.84
10.2%
+ 18%
Consolidated net income
% of gross margin
4.91
7.7%
3.83
6.7%
+ 28%
Net income (Group share)
% of gross margin
4.75
7.4%
3.87
6.8%
+ 23%

Net sales1 amounted to € 75.5 million, up 16% compared to the first half of 2020, while the gross margin2 is up 12% to € 63.9 million.

In a context of sustained investments, with significant recruitment efforts, the restated EBITDA3 amounted to 9.3 M €, up 0.8 M € compared to the previous year, to represent 14.5% of the half-year gross margin.

The operating result stood at € 6.9 million, representing 10.8% of the gross margin, against 10.2% in the first half of 2020. The growth in results of ADLPartner SA, Converteo and the subsidiary Spain, and the continued reduction in the loss of the ADLP Assurances subsidiary offset the drop in performance of the marketing services activity in France, which continues to be affected by the consequences of the health crisis.

Consolidated net income amounted to € 4.9 million, up 28%. It includes a tax charge of € 2.1 million.

After deduction of minority interests, net income (Group share) stood at € 4.7 million compared to € 3.9 million in the first half of 2020.

FINANCIAL STRUCTURE

The Group’s shareholders’ equity at June 30, 2021 was up € 1.9 million to € 25.1 million compared to € 23.1 million as of December 31, 2020, taking into account the half-year results and the ordinary dividend of 3.2 million € paid in June.

The Group’s net cash position amounted to € 34.9 million as of June 30, 2021 compared to € 42.0 million as of December 31, 2020 and € 38.6 million as of June 30, 2020. Financial debt represents € 13.2 million compared to € 13. , € 3 million at December 31, 2020, mainly including commitments to buy back minority interests in Converteo and AWE.

Net asset value4 (Group share), calculated on the basis of shareholders’ equity and the value of the active portfolio of open magazine subscriptions, amounted to € 134.6 million as of June 30, 2021, of which € 34.1 per share, excluding treasury shares. It does not include the portfolio of insurance policies.

OUTLOOK

Confident in its prospects, the Group is pursuing its expansion strategy aimed at becoming a European leader in data marketing by 2025. With its significant financial resources, it is effectively positioned to support an aggressive growth strategy in digital marketing with a view to to strengthen its positions in this sector, while pursuing its commercial investments in its portfolio activities generating recurring income.

GROUP BRAND CHANGE

In order to support the ambition of the Group and its employees within the framework of the “Plan Ambition 2025”, the Board of Directors unanimously approved the change of the Group’s commercial brand. The new brand will be announced on Tuesday, September 28 (before marketing)

ADDITIONAL INFORMATION

The parent company and consolidated accounts for the first half of 2021 were approved by the Board of Directors on September 24, 2021. The accounts were subject to the usual limited review by the statutory auditors for the half-year accounts. The half-year financial report will be available on September 30, 2021 on the Company’s website at: https://www.adlperformance.com/fr/documentation-financière

Next date: Third quarter 2021 sales on November 26, 2021 (after market close)

ADLPartner / ADLPerformance at a glance

With its long experience in cross-channel marketing and its in-depth expertise in data, the Group designs, markets and implements acquisition, loyalty and customer relationship management services for its own account or for its partners. and customers across all distribution channels. The Group works with two-thirds of CAC 40 companies and a large number of mid-sized companies. The Group employs more than 700 people.

ADLPartner is listed on the regulated market Euronext Paris – Compartment C.
ISIN: FR0000062978-ALP – Bloomberg: ALP: FP – Reuters: ALDP.PA

www.adlperformance.com

Contacts


1 Turnover (determined in accordance with the French professional statute for subscription sales) includes only the amount of remuneration paid by magazine publishers; for subscription sales, turnover therefore corresponds to a gross margin, by deducting the cost of magazines sold from the amount of sales recorded. For acquisition and management commissions linked to sales of insurance contracts, revenue includes current and future commissions issued, acquired on the balance sheet date, net of cancellations.
2 For the digital marketing activity, the gross margin represents the total amount of net sales (total invoices issued: fees, commissions and purchases re-invoiced to customers) less the total amount of the costs of external purchases made on behalf of customers. It is equal to the turnover of the press and insurance professions.
3 EBITDA (earnings before interest, taxes, depreciation and amortization) is restated for the impact of IFRS 2 on the allocation of free shares and for the impact of IFRS 16 relating to the restatement of rental charges.
4 Revalued Net Assets represents the amount of equity capital plus the present value of future net income generated by the portfolio of active open-ended subscriptions. It does not include the portfolio of insurance policies.

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