Brief: Believe FY EBIT Loss Narrowed To EUR 21 Mln

Believe SA

17/03/2022 19:08

March 17 (Reuters) - BELIEVE SA  BLV.PA :
    * FY GROUP'S REVENUE GROWTH: +30.7% WITH ORGANIC GROWTH AT
+29.9%
    * FY DIGITAL REVENUE GROWTH: +33.6% REFLECTING SOLID MARKET
SHARE
GAINS
    * FY ADJUSTED EBITDA MARGIN OF 4%, UP 230BPS RESULTING FROM
BUSINESS GROWTH
    * OUTLOOK 2022: EXPECTED TO CONTINUE BENEFITTING FROM
POSITIVE
STRUCTURAL MARKET TRENDS AND FURTHER LEVERAGE THE ATTRACTIVITY
OF ITS GLOBAL DIGITAL PLATFORM MODEL
    * OUTLOOK: SHOULD GENERATE SOLID ORGANIC GROWTH OUTSIDE
RUSSIA
    * EBIT AMOUNTED TO LOSS EUR 21.0 MILLION IN FY'21, A SLIGHT
IMPROVEMENT COMPARED TO FY'20, WHICH WAS A LOSS OF EUR 21.7
MILLION
    * NET CASH AND CASH EQUIVALENTS AMOUNTED AT EUR 262.7
MILLION AT
END OF DECEMBER'21
    * OUTLOOK 2022: ORGANIC PERFORMANCE WILL BE POSITIVELY
UPLIFTED BY
AROUND 2.0%
    * BELIEVE GENERATED C. 9% OF GROUP'S REVENUES IN RUSSIA AND
UKRAINE IN FY'21 AT AN ADJUSTED EBITDA MARGIN THAT WAS BELOW
ADJUSTED EBITDA MARGIN OF BUSINESS SEGMENTS (FY'21: C. 13%
VERSUS 14.4% FOR GROUP PRE-CENTRAL PLATFORM COSTS)
    * OUTLOOK: THE GROUP WILL HAVE GREATER VISIBILITY ON THE
RUSSIAN
AND UKRAINIAN BUSINESS EVOLUTION IN THE SECOND QUARTER AS THE
LOCAL SITUATION IS EVOLVING RAPIDLY
    * OUTLOOK: PLANNING TO PROVIDE MORE PRECISE OBJECTIVES UPON
Q1'22
RELEASE ON MAY 3RD
    * OUTLOOK: ON TRACK WITH ITS STRATEGIC ROADMAP TO BUILD THE
BEST
DEVELOPMENT PLATFORM AND CONFIRMS ITS MID-TERM TRAJECTORY
    * OUTLOOK: GROUP ADJUSTED EBITDA OF 5% TO 7% BY 2025
    * OUTLOOK: REMAINS CONFIDENT IN ITS CAPACITY TO ACHIEVE ITS
LONG-TERM OBJECTIVE TO REACH AN ADJUSTED EBITDA MARGIN OF 15%
FOR THE GROUP
    * FY REVENUE EUR 577.2 MILLION VERSUS EUR 441.4 MILLION YEAR
AGO

Source text for Eikon:  ID:nGNE7jHt27 
Further company coverage:  BLV.PA 

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