Brief: Believe Expects Organic Growth Of Around 18% In 2024

Believe SA

13/03/2024 17:12

March 13 (Reuters) - Believe SA  BLV.PA :
    * FY REVENUES: +15.7% YOY TO EUR 880.3 MILLION
    * FOR FY'24, BELIEVE ANTICIPATES AN INCREASE IN PAID
STREAMING
    * OUTLOOK 2024: BELIEVE EXPECTS: ORGANIC GROWTH OF C. +18%.
ADJUSTED ORGANIC GROWTH FOR EMBEDDED MARKET FX OF C. +20%.
    * OUTLOOK 2024: EXPECTS FURTHER PROGRESS IN ADJUSTED EBITDA
MARGIN: C. 6.5%.
    * ANTICIPATES THAT ARTISTS AND LABELS ADVANCES WILL INCREASE
IN
FY'24 IN LINE WITH REVENUE
    * ANTICIPATES FREE CASH FLOW TO BE SLIGHTLY POSITIVE IN
FY'24.
    * FY REVENUE OF EUR 880.3 MILLION IN FY'23, UP +15.7% AT
CURRENT
RATE WITH AN ORGANIC GROWTH OF +14.4%
    * STRONG INCREASE IN FY ADJUSTED EBITDA AT EUR 50.3 MILLION
OR A
MARGIN OF 5.7%, UP +110BPS YOY
    * FY FREE CASH FLOW SLIGHTLY NEGATIVE BY EUR 3.1 MILLION
    * WILL CONTINUE TO ALLOCATE CASH BETWEEN ADVANCES AND
ACQUISITIONS
IN THE NEXT MONTHS.
    * NET CASH AT END OF DECEMBER'23 AT EUR 214.2 MILLION
    * ON TRACK TO DELIVER ON ITS MEDIUM-TERM TRAJECTORY
COMMUNICATED
AT THE IPO

Source text for Eikon:  urn:newsml:reuters.com:*:nGNE7xXWYS
Further company coverage:  BLV.PA 

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