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Company announcement No. 3-2022
The company hereby publishes the quarterly announcement for the third quarter of 2021/22, and the content will be presented by CEO
Highlights:
- 140% growth in monthly active users from the third quarter of 2021 (7.1 million) to the end of the third quarter of 2022 (17 million). The largest country in terms of number of monthly active users was
Nigeria with +4.5 million, followed byKenya ,South Africa andTanzania . -
The strong growth is focused around Mdundo's main markets and in
Nigeria ,Kenya andSouth Africa the number of monthly active users has grown by over 300% from the third quarter of 2021 to the third quarter of 2022. - During the third quarter, the Company conducted initial tests with football and religious content on mdundo.com and achieved positive results from these tests, hence the tests continue.
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The launch of brand awareness marketing campaigns in
Nigeria andTanzania , which are expected to have long lasting positive effects on 1) monthly active users as well as paying customers and 2) the opportunity to increase B2B advertising sales. -
During the quarter, Mdundo's sales team has closed B2B advertising agreements with leading brands such as Nivea, 10Bet, Guinness,
Airtel andStandard Chartered Bank . However, the number of agreements is lower than expected in the third quarter. -
Strong liquidity of
DKK 22.6 million in deposits at the end of the quarter.
Outlook:
- Mdundo has previously announced that the number of monthly active users is expected to increase to approx. 18 million at the end of the financial year 2021/22. Based on strong growth, the Company is now increasing its expectation to 19-20 million monthly active users in
June 2022 . -
The company has previously guided an EBITDA for the financial year 2021/22 of negative
DKK 10 - 11 million. The expectation is increased to a better EBITDA of negativeDKK 8-9 million for 2021/22. This is mainly due to lower-than-expected marketing costs, which combined with an increase in the expected number of monthly active users is considered solid. The expectations for the Company's revenue in the financial year 2021/22 are also adjusted toDKK 7.0 - 8.0 million against previous expectations ofDKK 9-10 million . This is mainly due to a weaker 3rd quarter on direct advertising sales, while sales via advertising networks continue in a positive development and reached a level in March around DKK 500,000, corresponding toDKK 6 million on an annual basis if the level is maintained. YTD has sales via advertising networks accounted for 38% of revenue, direct B2B advertising sales accounted for 45% while subscription revenues via telecommunications company agreements accounted for the remaining share. -
The company's management is in the process of completing “Strategy 2022 - 2025” and expects to publish the main points in this together with guidance for 2022/23 in the second half of
June 2022 .
Management review:
Continued strong user growth: Mdundo reaches 17 million monthly active users in March, which is a growth of 140% from the third quarter of 2021. The company's management has raised its expectations for user growth from 18 million to 19-20 million monthly active users at the end of the financial year 2021/22. The largest country in terms of number of monthly active users was
Launch of new marketing activities: Last year, Mdundo established telecommunications partnerships in
Salesfocus on growth markets:During the quarter, Mdundo's advertising sales team closed several advertising agreements, of which brands such as Nivea, 10Bet, Guinness,
Contacts
- Jesper Vesten Drescher, Bestyrelsesformand/Chairman of the board, +4523229900, ir@mdundo.com
About Mdundo.com A/S
Mdundo is a leading music service for
Mdundo.com A/S
Jagtvænget 2
2920 Charlottenlund
www.mdundo.com
Certified Adviser
Kapital Partner A/S
Jernbanegade 4
1608 København V
+45 89 88 78 46
www.kaptalpartner.dk
Attachments
- Download announcement as PDF.pdf
- Mdundo Report 3rd Quarter 2021-22 EN.pdf
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