ADUX 2021 INTERIM FINANCIAL REPORT
A corporation with a capital of 1 569 481,25 euros
27, rue de Mogador - 75009 Paris
418 093 761 R.C.S. Paris B
www.adux.com
INTERIM FINANCIAL REPORT | 2 | |
Summary | ||
GROUP'S SUMMARY CONSOLIDATED FINANCIAL STATEMENTS | 7 | |
NOTES CONCERNING THE GROUP'S SUMMARY CONSOLIDATED INTERIM FINANCIAL STATEMENTS | 12 | |
STATEMENT BY THE PERSON RESPONSIBLE FOR THE INTERIM FINANCIAL REPORT | 23 | |
STATUTORY AUDITORS' REVIEW REPORT ON THE 2021 HALF-YEAR FINANCIAL INFORMATION | 24 |
www.adux.com
INTERIM FINANCIAL REPORT 3
Management report
PRESENTATION OF EARNINGS FOR THE FIRST HALF OF 2021
- Comments concerning the Group consolidated income statement
Revenues reached €9.6 million against €8.3 million in the first semester 2020, corresponding to a decrease of 16%. Since the beginning of Covid-19 sanitary crisis and the various lockdowns of the population, the activity has been strongly impacted, in particular the geomarketing activity of Admoove. With the end of the lockdown at the beginning of the second quarter of 2021, Admoove's activity has regained a good dynamic thanks to the retail, real estate and automotive sectors. Quantum's offer follows the same dynamic with a growth of video investments mainly due to the good performance recorded by its platform.
As a result of the increase in activity, the gross margin amounted to €4.2 million compared to €3.7 million in the first half of 2020. The margin rate is relatively stable. It amounts to 43% in the first half of 2021 compared with 45% in the first half of 2020.
Purchases, which amounted to €1.4 million, are up compared to the first half of 2020 (€1.3 million), related to the increase in activity in the first half of 2021.
Payroll charges amounts to €2.3 million, a decrease of €0.5 million (-19%) compared to the first half of 2020.
EBITDA (Current operating income before allocations and reversals of depreciation, amortization and provisions) thus amounts to +€0.5 million (compared with -€0.4 million in the first half of 2020).
Depreciation, amortization and provision charges amounting to €0.6 million, are mainly the result of investments in the continued development of technological platforms and the application of IFRS 16 standard (see note 8).
Other non-current income and charges amounts to -€0.2 million (against +€0.3 million in the first half of 2020).
Financial result and income tax amounts to -€0.1 million (against -€0.1 million in the first half of 2020).
Net income amounts to €-0.5 million (against -€0.9 million the first half of 2020).
- Internal developments and innovations
Capitalized development costs during the period mainly correspond to:
- The continuation of developments of the Quantum platform,
- The continuation of developments for Admoove platform,
III. Significant events of the period
On February 9th, 2021, the share capital of AdUX SA was reduced from 9,416,887.50 euros to 1,569,481.25 euros, by reducing the par value of each share from 1.50 euros to 0.25 euros. The amount of the capital reduction, i.e. 7,847,406.25 euros, was charged against the losses carried forward. The share capital of the Company amounts now to 1,569,481.25 euros, consisting of 6,277,925 shares with a par value of 0.25 euros each.
On June 17th, 2021, the Company's shareholders approved the transformation of AdUX into a European company. This transformation will take effect as of the registration of the Company in its new form with the Trade and Companies Registry.
On June 21th, 2021, the Group announced that Mr. Mickaël Ferreira will become Chief Executive Officer as of August 1st, 2021 for an indefinite period of time, replacing Mr. Salih Hikmet Cosgun.
Other Events
Following the signature of an agreement with its former lessor on July 5th, 2021 with a retroactive termination date of April 15th, 2021, the Group has recorded a positive impact of €0.4 million of non-current income and charges in its 2021 accounts (see note 4). The Company's new headquarter is located at 27, rue de Mogador - 75009 - Paris.
www.adux.com
INTERIM FINANCIAL REPORT 4
IV. | Event posterior of the closing |
Nothing to report.
www.adux.com
INTERIM FINANCIAL REPORT 5
MAIN RISKS AND UNCERTAINTIES CHARACTERISING THE SECOND HALF OF 2021
The main risks to which the Group is exposed are detailed in the Board of Directors' Management Report (Section V - Risk Management) presented in the 2020 annual report. The Company is not aware of other risks and uncertainties affecting the Group.
PROSPECTS
Since the start of 2021, the various waves and government measures had an impact on the marketing investments of advertisers. The notable recovery in the first half of the year and good dynamic since June, demonstrate that beyond the cost control efforts made in the past, the company is also adapting to the current context and to the needs of advertisers by adapting its offers and products.
The potential risk of the next waves and associated measures will still impact visibility over the coming months, but the Group should remain on the same dynamic as the first months and achieve growth over the whole of this year.
www.adux.com
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Adux SA published this content on 30 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 July 2021 16:08:03 UTC.
