Netgem: shows its confidence for 2022





Photo credit © Netgem

(Boursier.com) — Netgem reported annual revenue of 28.3 million euros, down 6%, after a 9% drop in activity in the second half (13.6 ME). The 2021 gross margin, on the other hand, increased by 11% to 17.5 ME. It is made up of more than 90% of recurring income. The total number of subscribers to the Group’s services reached 363,000 at the end of December, up more than 30% over the year.

In 2022, Netgem anticipates that its commercial momentum will come into full play and will result in an acceleration of the growth of its subscriber base with the objective of exceeding half a million subscribers. Despite the persistent tension on the components market, the Group believes that it will benefit, as in 2021, from the level of supply enabling it to meet its objectives.

In an inflationary context, Netgem obtained price readjustments from its customers to preserve the profitability of contracts and also continues to tightly control its cost structure. The expected growth in the subscriber base will lead not only to revenue growth but also to gross margin growth, with a positive effect on both EBITDA and cash generation. The group’s gross cash amounted to 6.4 ME at the end of December.

For Mathias Hautefort, CEO of Netgem, “the year 2022 promises to be growth, profitable and balanced between our different markets, thanks to our current portfolio of customer contracts. The outsourcing of all or part of TV and video services by telecom operators is a strong and lasting trend, because it improves their financial indicators and the satisfaction of their customers. We show every day that Netgem is a credible partner in this market. We still have to accelerate commercially, endogenously and exogenously if opportunities arise.”


©2022 Boursier.com





Source link -87