WEDIA’s Board of Directors, meeting on March 23, 2023, approved the accounts for the year ended December 31, 2022, which will be submitted to the next general meeting of shareholders, on May 5.
|
In thousands of euros |
31/12/2022 |
31/12/2021 |
Var. |
|
TURNOVER |
18.017 |
15.701 |
+15% |
|
Of which SaaS revenue |
11,716 |
8.746 |
+34% |
|
Of which Service & Miscellaneous |
6.301 |
6.955 |
-9% |
|
GROSS OPERATING SURPLUS |
2.944 |
3.129 |
-6% |
|
As a % of turnover |
16% |
20% | |
|
CURRENT OPERATING INCOME |
1.284 |
1.364 |
-6% |
|
As a % of turnover |
7% |
9% | |
|
RESULT (Before the impact of the Tripnity acquisition) |
1.092 |
923 |
+18% |
|
Amortization of goodwill* |
(531) |
– | |
|
Non-recurring items |
(386) |
– | |
NET INCOME GROUP SHARE | 175 | 923 | – |
|
OPERATING CASH FLOW |
2.221 |
4.192 |
* The goodwill recorded during the Tripnity transaction is amortized over a period of 10 years in accordance with the provisions of regulation ANC 2020-01 relating to consolidated financial statements.
For the 2022 financial year, the Wedia group achieved consolidated revenue of €18 million,
up 15%
compared to the 2021 financial year (€15.7 million).
During this fiscal year, in a wait-and-see context on the marketing solutions investment market, SaaS revenues supported the Group’s growth.
The breakdown of income by type is as follows:
SaaS revenues are up 34% compared to the 2021 financial year, at nearly €12 million. These revenues, in line with the Group’s ambitions, have been growing steadily for many years (17% per year on average over 2019-2022) and now represent 65% of revenues, in line with the target of 70% by 2024;
As expected, the Group’s Services activity (consulting, configuration, change management) is 9% lower than the previous year, as a result of a negative base effect after an excellent first half of 2021;
The international share now represents 33% of turnover, compared to 17% during the previous financial year (half of which in North America).
As a reminder, during this exercise,
the Wedia group announced the acquisition of 100% of the capital of the company Tripnity (Iconosquare software),
which has been consolidated since 1
er
May 2022 and contributed just over €3 million to revenue.
Solid results in a context of increasing investments
EBITDA stands at 16% of turnover and Current Operating Income is comparable to that of 2021 (€1,284k compared to €1,364k), the result of rigorous management in a context of increasing investments to bring the Group’s ambition:
Recruitment at a sustained pace in marketing, R&D and Services;
Increase in marketing investments (digital acquisition campaigns, trade fairs, etc.), purchases which resumed after the pandemic crisis and which have been beneficial since the end of 2022, with significant signatures in the luxury and distribution sectors.
The Net Income Group Share is €175 k (compared to €923 k in 2021). This result is impacted in particular by the allocation to goodwill (€531k) and non-recurring items (€386k) following the acquisition of Iconosquare. This Net Income is after taking into account deferred taxes (As of 12/31/2022, the Group benefits from a tax loss carryforward of nearly €17 million).
Net Cash & Operating Flows
Available cash as of December 31, 2022, historically low in December given the seasonality of invoicing, stood at €3.8 million and net financial debt represented €1.7 million.
Cash flow generated by operations is €2.2 million. The company is pursuing its R&D investment policy, with investments representing €1.7 million in 2022.
The Group thus has a solid financial structure to pursue its growth.
Proposed dividend at €0.17 per share
The Board of Directors reaffirms the company’s policy of fairly sharing the value created between its teams and its shareholders. The Board will therefore propose to the General Meeting to distribute an amount of dividend equivalent to that of the incentive, namely 0.17 centimes per share.
2023 outlook and growth objective confirmed
In 2023, the investments made as well as the complementarity of the various activities, will allow the Wedia Group to continue its growth, to reach a turnover of more than 20 M€. This growth, driven by a strong increase in SaaS revenues, will be achieved through the acquisition of new customer accounts and the development of existing customers with the deployment of new functionalities such as generative artificial intelligence.
A player recognized for its role as a consolidator of a market that is still very fragmented and whose positioning and offer are fully in line with the digital transformation of marketing and commerce, the Wedia Group wishes to pursue its active policy of external growth. The group therefore confirms its ambition to join the Top 5 players in the world market and to achieve a turnover of €30 million, provided that the conditions for carrying out these acquisition operations and the market conditions for financing them will be gathered.
Next meeting: H1 2023 revenue, Thursday July 27, 2023 after market close
About WEDIA (Isin: FR0010688440-ALWED) – www.wedia-group.com
Listed on Euronext Growth, the Wedia group is an international player, leader in SaaS software and consulting dedicated to marketing and communication departments.
Through its three offers, Wedia, Galilée and Iconosquare, the Group supports its customers (marketers, communicators, e-merchants, social media managers, etc.) in the sustainability, personalization, distribution and performance measurement of their marketing content (photos, videos, product descriptions, marketing pitches, social posts, etc.).
These offers thus enable the Group’s various customers to simplify the organization of their marketing content, automate their deployment on the various digital and physical channels and ultimately measure their effectiveness.
The Group’s high-end and innovative positioning is validated by prestigious clients (Decathlon, Royal Canin, Sephora) and by the main technology analysts (Gartner and Forrester)
To serve its 7,000 customers in more than 130 countries, the Wedia group, based in France, Germany and Canada, can count on more than 150 committed employees.
The Wedia group achieved a turnover of €18 million in 2022, of which more than 2/3 of SaaS revenue, and drives its development with a proven mix of controlled organic and external growth.
CONTACTS
Nicolas BOUTET – CEO – [email protected]
Olivier SCHMITZ – CFO – [email protected]
Julia BRIDGER – Partner – [email protected]
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