Brief: Believe H1 Revenue Up At 415.4 Million Euros

Believe SA

02/08/2023 16:52

Aug 2 (Reuters) - Believe SA  BLV.PA :
    * SIGNIFICANT PROFITABILITY IMPROVEMENT AND SOLID ORGANIC
GROWTH
DESPITE CURRENCY IMPACTS IN H1'23PARIS, FRANCE - AUGUST 2, 2023
    * REVENUES OF EUR 415.4 MILLION IN H1'23, UP +17.9% AT
CURRENT
RATE WITH AN ORGANIC GROWTH OF +17.5%.
    * FOR H2'23, BELIEVE MAINTAINS MAIN ASSUMPTIONS UNDERLYING
ITS
GROWTH SCENARIO PRESENTED LAST MARCH
    * IN H2'23, GROUP WILL CONTINUE TO DRIVE A PROFITABLE GROWTH
TRAJECTORY TOWARDS ITS LONG-TERM PROFITABILITY OBJECTIVE OF 15%
ADJUSTED EBITDA MARGIN
    * BELIEVE WILL KEEP INVESTING IN CENTRAL PLATFORM IN H2'23
AT SAME
CONTROLLED LEVEL AS IN H1'23
    * BELIEVE REVISED ITS EXPECTATIONS OF ADJUSTED EBITDA MARGIN
AND
NOW ANTICIPATES C. 5.5% IN FY'23 (VERSUS 5.0% INITIALLY
ANTICIPATED)
    * BELIEVE NOW ANTICIPATES A HIGHER LEVEL OF ADVANCES DURING
YEAR,
WHILE WORKING CAPITAL EXTRACTION WILL BE NEGATIVELY IMPACTED BY
CURRENCY TRANSLATION EFFECTS THAT ARE AFFECTING DIGITAL
MONETIZATION
    * IS NOW ANTICIPATING A NEGATIVE FREE CASH FLOW FOR FY'23
NEVERTHELESS SHOWING IMPROVEMENT VERSUS H1'23
    * ON TRACK TO DELIVER ON ITS MEDIUM-TERM TRAJECTORY
COMMUNICATED
AT IPO

Source text for Eikon:  ID:nGNE1jXM2d 
Further company coverage:  BLV.PA 

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