DÉKUPLE : 2023 FIRST-QUARTER BUSINESS
2023 FIRST-QUARTER
BUSINESS_____
Net sales: €48.0m (+4.4%)
Gross margin: €39.8m (+8.7%)Robust
development of the digital marketing
business, with its gross margin up
+37.1%
Paris, 22 May 2023 (8am) - The
DÉKUPLE Group, a cross-channel data
marketing expert, is today reporting its net sales for the first
quarter of 2023.
Bertrand Laurioz, Chairman and CEO: “In an
uncertain economic environment, DÉKUPLE recorded an increase of
+4.4% in its quarterly net sales and +8.7% in its gross margin,
driven primarily by the strong growth in digital marketing, which
now represents nearly 57% of consolidated net sales, with its gross
margin climbing +37%.
This rapid and continued development of our
Digital Marketing solutions confirms, on the one hand, the organic
growth of nearly +19% for the Consulting activities, which are
diversifying their areas of expertise and their capacity for
innovation, as illustrated by the acquisition in April 2023 of
various strategic assets from Synomia, a pioneering French AI
semantics company. On the other hand, this development is being
supported by the extended scope for our Marketing Solutions and
Agencies business in France, thanks in particular to the
integration of Brainsonic, a leading engagement marketing firm, and
Smart Traffik, a technology company specialized in presence
management and measuring the impact of marketing investments on
traffic and sales for the retail sector.
For the Magazine business, taking into account a
difficult environment for the magazine press sector overall and
faced with higher acquisition costs, we are optimizing our
commercial investments with a view to consolidating our
subscription portfolio, while renewing our offers to prepare for a
new cycle of growth. In the Insurance business, we are continuing
to focus on our development, particularly through our supplementary
health offers, with sales progressing compared with a high basis
for comparison from the first quarter of 2022.
We are continuing to move forward with the
Group’s transformation and innovation roadmap with a view to
becoming a leader for data marketing in Europe through organic and
external growth. Thanks to the exceptional skills of our team of
over 1,000 employees, committed to serving our clients and
partners, we are even more confident that we will be able to
achieve a further year of growth in 2023”.
KEY FIGURES FOR THE QUARTER
The DÉKUPLE Group is reporting €48.0m of net
sales1 for the first quarter of 2023, up +4.4%. The Group’s gross
margin2 came to €39.8m, up +8.7% year-on-year.
Breakdown of the change in the Group’s
net sales by business line:
€m |
Q1 2023 |
Q1 2022 |
Change |
Magazines |
18.6 |
20.7 |
- 9.9% |
Digital Marketing |
27.2 |
23.2 |
+ 17.3% |
Insurance |
2.1 |
2.1 |
+ 3.1% |
Net sales |
48.0 |
45.9 |
+ 4.4% |
Breakdown of the change in the Group’s
gross margin by business line:
€m |
Q1 2023 |
Q1 2022 |
Change |
Magazines |
18.6 |
20.7 |
- 9.9% |
Digital Marketing |
19.1 |
13.9 |
+ 37.1% |
Insurance |
2.1 |
2.1 |
+ 3.1% |
Gross margin |
39.8 |
36.7 |
+ 8.7% |
MAGAZINES: INVESTMENTS
OPTIMIZED
The gross margin for the Magazine business is
down -9.9% from the first quarter of 2022, while the gross sales
volume3 came to €49.3m, down -10.0%. Marketing campaigns are being
optimized on the most profitable client segments to respond to the
lower returns linked to the general environment, against a backdrop
of a contraction in purchasing power for French consumers. At 31
March 2023, this change is reflected in a contraction in the active
open-ended subscription portfolio to 2,121,000 units (-12%). The
new partnership agreements signed and the new offers launched, such
as “France Abonnements” with its monthly payment newsstand or “A
Vos Kids” for families, are expected to help improve the speed of
recruitments for new subscribers.
In thousands of units |
31 March 2023 |
31 March 2022 |
Change |
Active open-ended subscriptions |
2,121,332 |
2,410,364 |
- 12.0% |
DIGITAL MARKETING: CONTINUED STRONG
GROWTH
The Digital Marketing business is continuing to
build on its strong growth trends, with a gross margin of €19.1m,
up +37% from the first quarter of 2022.
The gross margin for consulting services
(€10.9m) is up +19%. Converteo, which now has more than 400 staff,
is continuing to diversify its offering, thanks in particular to
the acquisition in April 2023 of various strategic assets from
Synomia, a pioneering French company focused on artificial
intelligence-based semantic analysis.
Despite the impact of certain campaigns being
scaled back due to a difficult general environment, the gross
margin for the Marketing Solutions and Agencies business in France
(€7.4m) is up +102% factoring in a scope effect4 of €3.7m, linked
primarily to the consolidation of Brainsonic (leading engagement
communications agency) since September 2022 and Smart Traffik
(technology company specialized in presence management and
measuring the impact of marketing investments on traffic and sales)
since December 2022. On a like-for-like basis, activities are
stable due to the wait-and-see approach adopted by contracting
authorities.
The gross margin for marketing services in Spain
(€0.8m) is down -25% in line with the contraction in commercial
operations faced with a deterioration in Spain’s general economic
environment.
Gross margin (€m) |
Q1 2023 |
Q1 2022 |
Change |
Consulting - France |
10.9 |
9.2 |
+ 18.8% |
Marketing Solutions and Agencies- France |
7.4 |
3.7 |
+ 102.0% |
Marketing Solutions and Agencies - Spain |
0.8 |
1.1 |
- 25.1% |
Digital Marketing gross margin |
19.1 |
13.9 |
+ 37.1% |
INSURANCE: SOLID
PERFORMANCE
The gross margin for ADLP Assurances, the
subsidiary specialized in direct marketing affinity insurance
brokerage, is up +3.1% to €2.1m versus a high basis for comparison
in 2022, which saw a +27% increase following the integration of
strategic assets from the InsurTech firm Qape and its supplementary
health branch KOVERS, awarded the “Ethical Health Insurance” label.
The growth in the health insurance offering has helped further
strengthen the policyholder portfolio for the subsidiary ADLP
Assurances.
OUTLOOK
The DÉKUPLE Group is continuing to roll out its
Ambition 2025 strategy with a view to becoming a European leader
for data marketing. With the financial resources in place, it is
effectively positioned to continue with its commercial investments
in its Magazine and Insurance activities to develop its portfolios
of contracts generating recurrent revenues, while also supporting
the development of its Digital Marketing solutions through organic
and external growth.
About DÉKUPLEFounded in 1972,
DÉKUPLE is a major player for cross-channel data marketing. The
Group designs, markets and implements customer acquisition, loyalty
and relationship management services on its own behalf or for its
partners and clients across all distribution channels. Its expert
capabilities enable it to support brands with their marketing
needs, and to create, on its own behalf, portfolios that generate
recurrent revenues. The Group works with two-thirds of the
companies from the CAC 40 and large numbers of mid-market firms.
DÉKUPLE recorded net sales of €181.2m in 2022. Present in France,
Spain, Portugal and China, the Group employs more than 1.000
people.DÉKUPLE is the commercial brand of ADLPartner, a French
limited company (société anonyme) with a Board of Directors, listed
on the regulated market Euronext Paris – Compartment C. ISIN:
FR0000062978 - DKUPLwww.dekuple.com
ContactsDÉKUPLE Investor
Relations & Financial Informationtel: +33 (0)1 41 58 72 03 -
relations.investisseurs@dekuple.comCALYPTUSCyril
Combe - tel: +33 (0)1 53 65 68 68 - dekuple@calyptus.net
1 Net sales (determined in line with the French
professional status for subscription sales) only include the amount
of remuneration paid by magazine publishers; for subscription
sales, net sales therefore correspond to a gross margin, deducting
the cost of magazines sold from the amount of sales recorded. For
acquisition and management commissions linked to sales of insurance
policies, net sales comprise current and future commissions issued,
acquired by the accounting reporting date, net of cancellations.2
For the digital marketing business, the gross margin represents the
total amount of net sales (total invoices issued: fees, commissions
and purchases charged back to customers) less the total amount of
costs for external purchases made on behalf of customers. It is
equal to net sales for the magazine and insurance business lines.3
Gross sales volume represents the value of subscriptions and other
products sold. It is equal to net sales for the insurance
business.4 The scope effect is calculated by (i) eliminating the
net sales of the companies acquired during the period or the
comparable period, and (ii) eliminating the net sales of the
companies sold during the period or comparable period. As a result,
the like-for-like business does not take into account this scope
effect for the period concerned.
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