EQS-News

CLIQ Digital announces record-breaking cash flow, sales and earnings in first six months 2023 - Seite 2

• Customer acquisition costs (marketing spend): In 6M 2023, the customer acquisition costs grew by 24% to €65 million (PY: €52 million). The online advertising market prices for ad space remained elevated. Consequently, the number of marketing campaigns was strategically decreased due to a more competitive market environment in Europe in particular.
• EBITDA: In 6M 2023, despite higher marketing costs, EBITDA increased in line with the sales development by 37% to €25 million (PY: €18 million) with a stable EBITDA margin of 15.8% (PY: 15.7%) on the back of improved cost-of-sales management.
• Earnings per share: For 6M 2023, basic EPS grew by 26% to €2.49 (PY: €1.97) on the back of a profit of €16 million (PY: €13 million).
• Cash flow: Operating free cash flow in 6M 2023 was €11 million (PY: -€1 million).
• Liquidity: As at 30 June 2023, the net cash position of the Group totalled €8 million and included €12 million dividend distribution (PY: €7 million).

Operating review

• Members: The number of unique paying members per 30/06/2023 for subscription-based, bundled- and single-content streaming services decreased slightly year-on-year to 1.1 million (30/06/2022: 1.2 million). The Group focussed on attracting new members with a higher lifetime value and thus a higher sales contribution.
• Lifetime value (LTV): The expected average lifetime value of newly acquired members during the first six months 2023 was higher year-on-year at €82.69 (6M 2022: €71.90).

2023 outlook

On the back of the strong performance in the first six months of 2023, the Management Board confirms its full year 2023 guidance: The Group expects sales to exceed €345 million, driven by strong marketing activities (over €120 million of marketing spend is expected) and investments into additional attractive content. EBITDA is expected to exceed €50 million, continuing the Group’s track record of strong profitability.

Management statement

“Our first six months’ results 2023 have never been better,” said Luc Voncken, CEO. “This record-breaking strong Group performance together with our internal forecasts for the next half-year sets us very well on track to fulfil our 2023 guidance.”