Alchimie Announces Its First Half 2023 Financial Results - Seite 2

Financial result

3

(232)

 

Consolidated net income

(845)

(1,343)

(37.1%)

EBITDA

325

502

 

Cash position end of period

6,189

5,252

+17.8%

Business activity and first half 2023 results

As of June 30, 2023, the Group’s consolidated half-year revenues (IFRS) amount to €6.2 million, down 50% compared with June 30, 2022. The majority of activity is generated by the historical subscriber bases in France and Germany. This downturn, following the company's strategic reorientation to begin marketing SaaS and VPaaS (Video Platform as a Service) offers, is in line with the announced trajectory. In France more specifically, the drop in subscriber numbers is explained by the termination of the contract with Orange in January 2023.

Cost of sales for the first half of 2023 fell sharply to €2.4 million from €5.5 million at June 30, 2022, as a result of the rationalization of content licensing costs implemented since 2022.

The gross margin rate is thus €3.8 million as of June 30, 2023, i.e. a gross margin rate of 61%, up 5 points compared with the corresponding period in 2022.

Operating expenses stand at €4.4 million, down sharply by 45%, due to the finalized restructuring of the Company and the decision to significantly reduce marketing expenses in order to adapt the cost structure.

Technical and development costs have thus been reduced by 36% and marketing and sales costs by 65% compared with the first half of 2022. General and administrative expenses have also been reduced by 39%, following the resizing of support functions to the needs of the Company.

All the measures taken have enabled Alchimie to achieve a positive EBITDA of €325k in the first half of 2023, compared with €502k a year earlier.

The financial result for the first half of 2023 amounts to a loss of €0.7 million compared with a loss of €1.1 million as of June 30, 2022, partly generated by the video business.