Brief: Believe Q1 Revenue Up At Eur 162.5 Mln

Believe SA

03/05/2022 16:56

May 3 (Reuters) - Believe SA  BLV.PA :
    * VERY DYNAMIC Q1 DRIVEN BY BELIEVE’S ATTRACTIVITY TO
ARTISTS AND
LABELS  DEMONSTRATING BELIEVE’S STRONG DIGITAL PLATFORM MODEL
    * FY 2022 GUIDANCE: ORGANIC GROWTH +25% OUTSIDE RUSSIA AND
UKRAINE
BUSINESS UNITS (C.+20% ORGANIC GROWTH FOR FULL GROUP), ADJUSTED
EBITDA MARGIN IN LINE WITH FY 2021 LEVEL
    * REVENUES GENERATED IN RUSSIA AND UKRAINE WERE AROUND EUR
50
MILLION IN FY 2021 AND ARE NOW ANTICIPATED TO RECORD A DECREASE
COMPRISED BETWEEN 30% AND 40% IN FY 2022 COMPARED WITH PRIOR
YEAR
    * Q1 REVENUE EUR 162.5 MILLION VERSUS EUR 124.1 MILLION YEAR
AGO
    * MOST OF INTERNATIONAL DIGITAL SERVICE PROVIDERS (DSPS)
STOPPED
MONETIZATION IN RUSSIA, WHICH WILL NEGATIVELY IMPACT REVENUES
GENERATED LOCALLY
    * GROUP ANTICIPATES A MORE NORMALIZED GROWTH RATE IN FY 2022
    * CONFIRMS ITS MID-TERM TRAJECTORY, INCLUDING A CAGR
2021-2025
COMPRISED BETWEEN +22% TO +25% AND GROUP ADJUSTED EBITDA OF 5%
TO 7% BY 2025

Source text for Eikon:  ID:nGNE5w0lyj 
Further company coverage:  BLV.PA 

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