Brief: Believe H1 Group Adjusted EBITDA Up At EUR 11.7 Mln

Believe SA

03/08/2022 16:55

Aug 3 (Reuters) - Believe SA  BLV.PA :
    * FY 2022 OUTLOOK: ORGANIC GROWTH UP C. +29%, POSITIVE FREE
CASH-FLOW
    * H1 GROUP ADJUSTED EBITDA EUR 11.7  MILLION VERSUS EUR 7.3
MILLION YEAR AGO
    * H1 GROUP REVENUE EUR 352.2 MILLION VERSUS EUR 260.1
MILLION YEAR
AGO
    * GROUP IS ASSUMING THAT AD-FUNDED STREAMING GROWTH WILL
REMAIN AT
THAT SLOWER RATE IN H2'22
    * GROUP ANTICIPATES FREE CASH FLOW TO REMAIN POSITIVE ON
FULL YEAR
BASIS
    * PAID STREAMING IS EXPECTED TO BE RESILIENT AND TO PURSUE
ITS
SOLID GROWTH TRAJECTORY NOTABLY IN KEY MARKETS ADDRESSED BY
GROUP.
    * BELIEVE REMAINS CONFIDENT IN ITS CAPACITY TO ACHIEVE ITS
LONG-TERM OBJECTIVE TO REACH GROUP ADJUSTED EBITDA MARGIN OF 15%
    * H1 OPERATING LOSS OF EUR 11.3 MILLION VERSUS LOSS OF EUR
14.4
MILLION YEAR AGO
    * ACCORDINGLY BELIEVE WILL CONTINUE TO GROW ORGANICALLY IN
H2'22,
BUT AT A SLOWER PACE THAN IN H1'22
    * H1 FREE CASH FLOW EUR 10.8 MILLION VERSUS EUR -35.3
MILLION YEAR
AGO
    * OUTLOOK 2022: OUTSIDE RUSSIA AND UKRAINE, ORGANIC GROWTH
IS
ANTICIPATED AROUND +31%
    * RUSSIA/UKRAINE: STRENGTH OF RUBLE IS HOWEVER EXPECTED TO
MITIGATE ACTIVITY SLOWDOWN IN H2'22 AND REVENUES OF TWO BUSINESS
UNITS ARE ANTICIPATED ROUGHLY STABLE COMPARED WITH FY'21
    * BELIEVE OPERATES WITH FULL COMPLIANCE WITH INTERNATIONAL
SANCTIONS AND RECOMMENDATIONS AND IS CLOSELY MONITORING THEIR
EVOLUTION TO TAKE ANY NEW REQUIRED ACTIONS
    * BELIEVE NOW EXPECTS ITS FY 2022 ORGANIC GROWTH TO REACH C.
+29%
FOR GROUP, ABOVE PRIOR EXPECTATIONS PROVIDED ON MAY 3, 2022
(+20%) AND ABOVE RANGE ANNOUNCED FOR 2021-2025 PERIOD AT IPO
(+22% TO +25%)
    * BELIEVE INTENDS TO CONTINUE SIGNIFICANTLY INVESTING IN
CENTRAL
PLATFORM AND IN LOCAL TEAMS IN H2'22 TO FUEL FUTURE PROFITABLE
GROWTH.
    * OUTLOOK 2022: CONFIRMS ITS MID-TERM TRAJECTORY
COMMUNICATED AT
IPO, INCLUDING A CAGR 2021-2025 COMPRISED BETWEEN +22% TO +25%
    * FOR FY22 BELIEVE ANTICIPATES ITS ADJUSTED EBITDA MARGIN TO
BE
AROUND LAST YEAR'S LEVEL (4%).
    * GROUP IS ON TRACK WITH ITS STRATEGIC ROADMAP
    * BELIEVE REMAINS CONFIDENT IN ITS CAPACITY TO ACHIEVE ITS
LONG-TERM OBJECTIVE TO REACH GROUP ADJUSTED EBITDA MARGIN OF 15%

Source text for Eikon:  ID:nGNE9plYck 
Further company coverage:  BLV.PA 

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