Cliq Digital : 2Q/6M 2021 Financial report (unaudited)

HIGHLIGHTS

Sales development	Regional sales split
6M2021		6M2021
6M2020	9%

1Q:	2Q:
€30.1m	€33.1m

6M2020

1Q:		2Q:
€20.2m		€26.9m

€63.2m

€47.2m

8%		ROW
ROW		1Q €2.7m
€3.7m		2Q €3.0m	42%
41%	51%		Europe
	1Q €12.4m
NorthAmerica	Europe	49%
€19.6m	€23.9m	2Q €14.1m

North America

1Q €15.0m

2Q €16.0m

€47.2m

		€63.2m
	6M 2021:
	18%	Sales split by
Marketing spend	EBITDA
margin	payment means
	(PY: 13%)

Direct					Direct
46%
Media				Media
Buying					Buying
				75%
	Affiliate
			Aff.
6M2020	6M2021

Credit	51%
Card
(CC)

CC

Non-

6M2020

	Credit
	Card
67%	(CC)

CC

Non-

6M2021

6M 2021:

• Total Group sales increased by 34% to €63.2 million
• European gross revenue up 11% Y/Y
• EBITDA grows to €11.6 million (+83% against PY)
• 18% EBITDA margin (PY: 13%)
• €1.12 EPS (PY: €0.47)
• €6.8 million operating free cash flow generated (PY: €5.6million)

2Q 2021:

• Total Group sales increased by 23% to €33.1 million
• European gross revenue up 11% Y/Y
• EBITDA grows to €6.3 million (+52% against PY)
• 19% EBITDA margin (PY: 15%)
• €0.62 EPS (PY: €0.30)

2Q/6M 2021 FINANCIAL REPORT	2

KEY FIGURES

						in millions of €
Sales/earnings		2Q 2021	2Q 2020	6M 2021	6M 2020
Gross revenue	33.1	26.9	63.2	47.2
of which generated in
•	North America	16.0	12.2	30.9	19.6
•	Europe	14.1	12.7	26.5	24.0
•	ROW	3.0	2.0	5.8	3.6
Marketing spend	-11.9	-8.5	-21.0	-16.3
EBITDA	6.3	4.1	11.6	6.3
EBITDA margin	19%	15%	18%	13%
Net result	4.1	2.8	7.6	4.4
EPS (fully diluted)		0.62	0.30	1.12	0.47
Cash flow
		6M 2021	6M 2020
Cash flow from operating activities			7.1	5.7
Cash flow from investing activities			-0.3	-0.1
Operating free cash flow			6.8	5.6
Cash flow from financing activities			-9.5	-1.3
Total cash flow (prev. defined as "Free cash flow")			-2.7	4.3
CLIQ-specific KPIs
		2021	2020
CLIQ Factor (6M)			1.59x	1.64x
CLIQ Factor (2Q)			1.62x	1.67x
Customer Base Value (30 June)			40.0	31.0
Balance sheet
		30/06/2021	31/12/2020
Equity			53.7	55.6
Total assets			82.7	77.0
Equity ratio			65%	72%
Net financial debt (-) / net liquidity (+)			-1.6	0.9
Human resources
		30/06/2021	30/06/2020
Full-time employees			86	73
Part-time employees			20	15
Total FTE				101	85
Shares
		30/06/2021	30/06/2020
Share price ( in €)			26.05	7.40
Number of shares			6,508,714	6,188,714
Market capitalisation				170	46

2Q/6M 2021 FINANCIAL REPORT	3

MANAGEMENT STATEMENT

The first half of 2021 delivered significant growth. On the back of excellent business performance with both sales and earnings continuously increasing, we introduced new and important content categories and closed an important corporate transaction to substantially boost our EPS. However, we have even more wide-ranging plans for the second half of 2021. Our H2 playbook forecasts a considerable ramp-up in revenue (just look at our CBV development), a material improvement in the look-and-feel of our All-in-One concept and the first positive results from our M&A team as well as the next new, organic market entry. We are all very excited about the fundamentals and opportunities provided in the second half and we are gaining further traction.

2Q/6M 2021 FINANCIAL REPORT	4

MANAGEMENT REPORT

Business development

6M 2019

6M 2020

6M 2021

in millions of €

Marketing spend

Gross revenue

EBITDA

EBITDA margin %

		13%	18%
	7%
9.8 28.2	1.8	16.3 47.2 6.3	21.0 63.2 11.6

€0.08 EPS

€0.47 EPS

€1.12 EPS

Sales

CLIQ Digital Group's gross revenue increased by 34% to €63.2 million (6M 2020: €47.2 million) from January to June 2021. The

share of European and North American gross revenue was 42% and 49% respectively (6M 2020: 51% and 42% respectively). This significant year-on-year shift in geographic weighting is due to the initial focus by the company's own media buying team on the North American market. The predominant and fastest growing payment means in the first six months was credit card, which amounted to 67% of gross revenue (6M 2020: 51%).

In the second quarter 2021 (01/04-30/06/2021), CLIQ Digital generated gross revenue of €33.1 million (2Q 2020: €26.9 million). This corresponds to an increase of 23% compared to the second quarter of the previous year and a sequential improvement of 10% quarter-on-quarter in comparison to the first quarter 2021. The European operations continued to grow also in the second quarter by 11% highlighting the positive sales development resulting also from the introduction of the own, direct media buying to Europe. 69% of total gross revenue in 2Q 2021 was paid for with credit card (2Q 2020: 53%), marking the highest level in company history.

Earnings

In the first half 2021, CLIQ Digital's EBITDA grew by 83% to €11.6 million (6M 2020: €6.3 million) and included higher marketing

expenses - one of CLIQ's most important KPIs for further revenue growth - of €21.0 million (+29%, 6M 2020: €16.3 million), which underline CLIQ's accelerating focus on direct media buying (via an own procurement team) and the corresponding fundamental shift from media buying via affiliated partners. In addition, improving the content offering to facilitate both new member acquisition as well as extend customer retention is reported in the higher cost for content. In 2Q 2021, the EBITDA margin (in per cent of gross revenue) was 19% compared to 15% in last year's second quarter.

2Q/6M 2021 FINANCIAL REPORT	5