(CercleFinance.com) – Netgem unveiled 2022 annual results on Friday marked by a positive development in all of its financial indicators, a performance that was welcomed this morning on the Paris Stock Exchange.
The digital entertainment video platform reported an operating loss of 2.2 million euros for the past financial year, compared to -3.7 million for the previous financial year.
The company, which says it has benefited from the control of operating costs, posted a positive net income group share of 0.1 million euros, against a loss of 1.3 million in 2021.
Supported by the growth in the number of subscribers, its turnover increased by 28% to 36.3 million euros, while the gross margin rose by 14% to 20.1 million euros.
For 2023, the company says it anticipates recurring billing (ARR) growth of more than 20% in 2023, with cash from the growing subscriber base sufficient to fund its growth.
“After a good year in 2022 and excellent prospects for 2023, the sale of our fiber business gives us the means to accelerate this virtuous circle”, underlined Mathias Hautefort, its managing director.
As announced at the end of January 2023, Netgem has decided to initiate the sale of its fiber operator activity, which will be effective on April 1, 2023 with a positive effect of three million euros on cash.
Following these elements deemed reassuring, the Netgem share rose 2.2% on Friday around 11:45 a.m.