Brief: Believe Q3 Revenue Up At EUR 197 Mln

Believe SA

03/11/2022 17:07

Nov 3 (Reuters) - Believe SA  BLV.PA :
    * STRONG Q3 DRIVEN BY BELIEVE'S APPEAL TO ARTISTS AND LABELS
AT
ALL STAGES OF THEIR CAREER AND IN ALL GEOGRAPHIES
    * REVENUE GROWTH: +36.9% IN Q3'22 AND +35.9% YEAR-TO-DATE
    * GROUP EXPECTS MUSIC INDUSTRY TO CONTINUE TO SHOW
RESILIENCE AND
THAT PAID STREAMING WILL CONTINUE ITS GLOBAL DEPLOYMENT
    * Q3 REVENUES EUR 197.0 MILLION VERSUS EUR 144 MILLION YEAR
AGO
    * FY 2022 GUIDANCE: BELIEVE NOW ANTICIPATES ORGANIC GROWTH
IN
EXCESS OF +30%, ADJUSTED EBITDA MARGIN AT C. 4.5% AND SOLID
POSITIVE FREE CASH FLOW
    * OUTLOOK: FREE CASH FLOW WILL BENEFIT FROM AN ANNUAL
INSTALLMENT
OF APPROXIMATELY EUR 20 MILLION FROM ONE OF ITS DIGITAL
PARTNERS, WHICH WAS RENEWED IN Q3'22
    * NOW EXPECTS AN ADJUSTED EBITDA MARGIN OF C. 4.5% ABOVE
PRIOR
EXPECTATIONS OF A STABLE MARGIN YEAR-OVER-YEAR (FY'21: 4%)
    * BELIEVE INTENDS TO CONTINUE TO INVEST SIGNIFICANTLY IN
CENTRAL
PLATFORM AND LOCAL TEAMS IN COMING YEARS

Source text for Eikon:  ID:nGNE5yNy22 
Further company coverage:  BLV.PA 
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