OBIZ – Half-year results 2022 – Objectives 2022 – 12/10/2022 – 18:00

  • Semi-annual sales in dynamic growth of + 24%carried by
    sustained organic growth of + 20% and integration of Adelya©
  • + 47% growth in gross margin, gross margin rate at 13.0% against 10.9% a year earlier
  • Half-year EBITDA up + 27% to 0.4 million euros
  • Cash and cash equivalents of 4.5 million euros at the end of June 2022

Goals 2022

  • confirmation of a turnover exceeding 45 million euros it’s a Positive EBITDA
  • 25 new relationship and affinity programs in 2022, vs. 7 in 2021

Lyon, 12 October 2022 – 18:00 – Obiz© (Euronext Growth® – FR0014003711 – ALBIZ)digital platform for responsible relationship marketing and 1time first GoodTech© on the Euronext Growth market® in Paris, publishes (unaudited) consolidated half-year results for 1uh half of the 2022 financial year, approved on 10 October 2022 by the Board of Directors.

In k € – Non-certified data 1uh semester 2021 1uh half year 2022 1 Exercise
2021
Revenue 13,127 16.223 36.935
Change against n-1 in% + 24% + 140%
Gross margin 1,428 2,103 2,681
Change against n-1 in% + 47% + 13%
Gross margin rate 10.9% 13.0% 7.3%

The turnover and gross margin of 1uh semester 2022 slightly different from those communicated at the end of July (respectively 16.2 M € against 16.0 M € and 2.1 M € against 1.8 M € at the end of led to reformulations at the Adelya level©

Activity sustained at 1uh half year 2022: + 24% growth and strengthening of the gross margin to 13.0%

After 1uh mid-2022, the consolidated turnover of Obiz© amounts to 16.2 million euro, with a dynamic growth of + 24%.

Adelia©company consolidated in the accounts of Obiz© from 1uh May 2022, contributed 0.5 million euros to revenues in two months. On a like-for-like basis, organic growth stood at a high level of 20%.

This good momentum in half-yearly sales is the result (I) the continuous growth of the business of relationship and affinity programs with more than 20 new programs won during 1uh semester and 25 targeted for the whole year thanks to the synergies with Adelya© And (ii) the sustained development of the e-commerce store business driven by the partnership entered into within the works councils and the resumption of post-pandemic ticket sales.

Gross margin was strongly strengthened in 1uh half year 2022, 2.1 million euros compared to 1.4 million euros the previous year. It thus recorded a growth of + 47%, more sustained than that of turnover, and represents a gross margin rate of 13.0% (compared to 10.9% the previous year).

This strong improvement in gross margin is the result of the signing of new programs won in 2021 and 2022 that generate a gross margin comparable to that of a software publisher, as well as the integration of Adelya©whose model generates structurally high and recurring margins.

EBITDA1 half year 2022 of 0.4 million euros, up by + 27% and a net profit close to break even

In k € – Non-certified data 1uh semester 2021 1uh half year 2022 Exercise
2021
Change against 1st half 2021
EBITDA1 318 403 351 + 27%
In% 2.4% 2.5% 1.0%
Operating income 5 11 -354
Bottom line -43 -79 -83
exceptional result -223 -10 -206
Consolidated net profit -171 -45 -619

Mid-year, EBITDA[1] the half year is equal to 0.4 million euros, up + 27% compared to last year (0.3 million euros), representing an EBITDA margin1 2.5% (versus 2.4% a year earlier).

EBITDA1 integrates the investments in support of the group’s developments, in particular the actions taken to launch the Merciz offer© (+ € 0.1 million) and an increase in personnel expenses and general expenses following the change in scope with the integration of Adelya© from 1uh May 2022. As of June 30, 2022, Obiz© it therefore had 70 employees, compared to 40 at the end of 2021.

After accounting for net depreciation, the operating result was slightly positive in 1uh half year 2022.

Taking into account the financial result, consisting mainly of interest expense relating to bank loans, and in the absence of significant exceptional items, Obiz© it recorded a half-year net profit close to breakeven.

Cash and cash equivalents of 4.5 million euros at 30 June 2022

In k € – Non-certified data 31/12 2021 06/30 2022 In k € – Non-certified data 31/12 2021 06/30 2022
Fixed assets
of which immo. incorporeal
4.201
3,384
6.942
5.997
Equity
of which issue premiums
6.930
7,696
6.936
7,696
Current assets 4,687 3,931 Financial debts 3,976 6,786
of which stocks and work in progress 2.068 1.093 of which bank loans 3,976 6,786
of which trade receivables 2,356 2,319 of which bank loans
Availability 3,953 4,494 Other liabilities 1935 1,644
Total assets 12,841 15,367 Total passivity 12,841 15,367

Fixed assets and shareholders’ equity as at 31/12/2021 differ from those communicated in April 2022 on the occasion of the publication of the 2021 annual results (respectively 4.2 million euros vs 4.4 million euros and 6.9 million euros euro vs 7.2 million euro) due to voluntary consolidation (cancellation of treasury shares and pension fund (IDR).

At 30 June 2022, fixed assets amounted to 7.0 million euros following the consolidation of Adelya© on the budget.

Inventories, consisting of vouchers (physical or e-cards) purchased from partners for e-commerce stores, decreased compared to 31 December 2021, due to the seasonal nature of the business, and customer credits remained stable.

As of June 30, 2022, Obiz© it had cash and cash equivalents of 4.5 million euros.

Financial debts amounted to € 6.8 million, consisting in particular of loans guaranteed by the State (PGE) for an amount of € 1.7 million, the “PACT” impact loan of € 2.0 million contracted in 1uh mid-2022 as part of the acquisition of Adelya©repayable advances from Bpifrance for 1.3 million euros and various bank loans for the balance.

At the end of June 2022, the company had therefore a net debt of 2.3 million euros, after the acquisition of Adelya©.

Outlook 2022

Supported by a very dynamic activity at 1uh half year and full consolidation of Adelya© the 2n / a semester, Obiz© intends to continue its sustained development and aims for 2022:

  • A turnover of over 45 M € (compared to the 40 million euros initially foreseen). This objective is realized in consolidated annual growth of over 20% compared to the turnover of 36.9 million euros achieved in 2021;
  • A gross margin rate of between 10% and 13% (compared to 7.3% in 2021), a strong improvement thanks to the integration of Adelya© and conditioned by the mix of year-end activities;
  • A positive EBITDAtaking into account the continuation of technological and commercial investments launched in 2021 and continued in 2022.

Obiz© it currently has more than 40,000 partner stores, compared to 38,000 at the beginning of the year. The new set formed with Adelya© now aims to exceed 45,000 partners by the end of the year, reflecting the growing interest of French and international reference brands in joining the group’s network, whose mission is to positively influence the purchasing power and well-being of beneficiaries, it is more relevant than ever.


Financial diary 2022

  • Annual turnover 2022 January 30, 2023
  • 2022 Annual Results April 12, 2023

These dates are given for information only, they are likely to be changed if necessary. The publications will take place after the close of the Euronext markets.


About Obiz

Created in 2010, Obiz© is a company specialized in the development of innovative and responsible relationship marketing solutions that allow companies to retain their customers or employees by improving their well-being and increasing their purchasing power.

Thanks to its proprietary digital platform and its team of experts, Obiz© designs, implements and manages relationship and affinity programs and e-commerce platforms on behalf of its customers (large companies, associations, federations). Today the Group is present in 20 countries and manages more than 100 relationship and affinity programs for 20 million beneficiaries with access to the best promotional offers negotiated by Obiz.© with its extensive network of 38,000 national and local business partners.

In the financial year 2021, Obiz© generated a turnover of 36.9 million euros, up 140% year on year.

Obiz© it is qualified as an Innovative Company by Bpifrance and obtained an “Advanced +” extra-financial rating from EthiFinance.

Obiz© is listed on the Euronext Growth market® in Paris (FR0014003711 – ALBIZ).

More information on: www.obiz-concept.fr


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[1] EBITDA is defined by operating profit, excluding depreciation of fixed assets and including the innovation tax credit (CII).

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