Avidly Plc’s business review for 1 January – 31 March 2022
Avidly Plc Company Announcement
Avidly’s revenue and profitability improved clearly in Q1 2022
This business review is not an interim financial report in accordance with IAS34 and the financial information presented in it is unaudited.
January–March 2022
- Revenue was
8,566 thousand euros (7,143), an increase of 19.9%.1- Other countries segment’s portion of revenue was 33.3% (22.3%).
-
Gross profit was
6,510 thousand euros ( 5,514), an increase of 18.1%.- Other countries segment’s portion of gross profit was 37.2% (25.8%).
- Continuous services accounted for approximately 48% (41%) of gross profit.
-
The Group’s operating result was
413 thousand euros (-1), or 4.8% of revenue (0%). -
Adjusted operating result1 improved to
595 thousand euros (469).
CEO
Avidly's strong growth continued in Q1 2022. Our revenue increased by 19.9 percent year-on-year to
The favourable operating environment in all our operating countries contributed to the good performance. International growth was boosted in particular by the acquisition of Digital 22 Online at the beginning of the year.
In our international business, demand continued to focus on digital services that accelerate sales and marketing automation. In Finland, demand covered all of the marketing technology services we offer, but also in this market the demand was strongest in digital services. The share of continuing services in gross margin increased to 48 (41) percent.
As a whole, the implementation of our strategy progressed well during the review period. Our customer base expanded with new interesting customers such as
The integration of the Digital 22 Online team into Avidly got off to a good start in Q1. We also developed our operations by organising our local
Our focus is strongly on achieving the goals of our strategy period reaching to 2025. We actively seek new growth and partnership opportunities within the
To date, the impacts of Russia’s attack on
Outlook for 2022unchanged(published on
Avidly estimates that its revenue in 2022 will be between 34 and
The adjusted operating result refers to the operating result (EBIT) that has been adjusted for the acquisition costs and allocated depreciation of acquired businesses as well as expenses associated with the share-based incentive scheme pursuant to IFRS.
1Unless otherwise stated, comparisons and figures in parentheses refer to the comparison period, i.e. the same period last year
Key figures
1-3 | 1-3 | Change | 1-12 | |
2022 | 2021 | % | 2021 | |
Revenue | 8,566 | 7,143 | 19.9 | 29,972 |
Other countries segment’s portion of Revenue | 2,856 | 1,596 | 78.9 | 7,099 |
Gross Profit | 6,510 | 5,514 | 18.1 | 21,596 |
Other countries segment’s portion of | 2,419 | 1,424 | 69.9 | 5,953 |
Continuous services, % of Gross Profit | 48% | 41% | 47% | |
Operating Result | 413 | -1 | 41,400,0 | -57 |
Adjusted Operating Result (EBITA) * | 526 | 49 | 973.5 | 121 |
Adjusted Operating Result ** | 595 | 469 | 26.9 | 1,074 |
Average number of Personnel | 282 | 232 | 21.6 | 237 |
Reconciliation Statement for Adjusted Operating Result:
1-3 | 1-3 | 1-12 | |
2022 | 2021 | 2021 | |
ADJUSTED OPERATING RESULT: | |||
Operating Result | 413 | -1 | -57 |
Depreciations and impairments on acquisitions | 113 | 50 |
|
Adjusted Operating Result (EBITA) * | 526 | 49 | 121 |
Acquisition costs | 173 | 0 | 0 |
Expenses associated with the share-based incentive scheme pursuant to IFRS | -104 | 420 | 953 |
Adjusted Operating Result ** | 595 | 469 | 1,074 |
* EBITA = Operating result (EBIT) adjusted for acquisition costs and allocated depreciation of acquired businesses.
** Adjusted operating result = Operating result (EBIT) adjusted for acquisition costs and allocated depreciation of acquired businesses as well as expenses associated with the share-based incentive scheme pursuant to IFRS.
Financial information
Avidly’s financial reports will be published as follows:
- Half-Year Report January–June 2022:
26 August 2022 -
Business Review January–September 2022:
28 October 2022
BOARD OF DIRECTORS
Additional information:
Hans Parvikoski, CFO, tel. +358 40 586 6154
About Avidly
Avidly is a leading martech service provider listed on the Nasdaq First North Growth marketplace in
Attachments
- Download announcement as PDF.pdf
- Avidly_Q1_2022_business_review (1).pdf
© STT Info Finland, source