Alchimie Reports 2021 Half-Year Results and Announces a Refocusing of Its Strategy - Seite 2

Technological and development costs

-2,368

-1,913

+23.8%

Sales and marketing costs

-8,293

-7,460

+11.2%

General and administrative expenses

-2,665

-2,498

+6.7%

Operating income

-5,713

-4,660

-22.6%

Net financial expense

-211

-183

-15.3%

Net income from continuing operations

-5,936

-4,689

-26.6%

Net income from discontinued operations

-

105

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Consolidated net income

-5,936

-4,584

-29.5%

Cash position at end of period

8,515

4,007

+112.5%

Figures subject to limited review by the auditors

Activity and results for the first half of 2021

The Group's consolidated half-year revenues (IFRS) at June 30, 2021, communicated on July 20, amounted to €15.6 million, up +14% compared to June 30, 2020. The Video activity, which amounted to €14.2 million, maintained its momentum with a growth rate of +22% over the period.

During the past six months, cost of sales amounted to €8.0 million, as the Company is currently in an investment phase (structuring and strengthening of international teams, follow-up of channel launches, development of Alchimie Studio and marketing investments to recruit subscribers), resulting in a gross margin of €7.6 million.

More specifically, the gross margin rate for the Video business, Alchimie's main activity, was 45% compared with 48% in H1 2020. This change is mainly due to the increase in sales commissions, particularly in the context of distribution via platforms such as Amazon Channel, in line with the optimization of the distribution strategy and initiatives and experiences in the creation of exclusive and original content (co-production, content localization)