PRESS RELEASE

from Cliq Digital AG (isin : DE000A0HHJR3)

CLIQ Digital‘s Outlook 2024 Readjustment

EQS-News: Cliq Digital AG / Key word(s): Change in Forecast
CLIQ Digital‘s Outlook 2024 Readjustment

12.07.2024 / 17:28 CET/CEST
The issuer is solely responsible for the content of this announcement.


CLIQ Digital‘s Outlook 2024 Readjustment

DÜSSELDORF, 12 July 2024 – Based on the preliminary sales and earnings data for the second quarter 2024, CLIQ Digital readjusted its 2024 and medium-term outlook yesterday.

Due to the 2Q 2024 sales performance, the Management Board decided to readjust the Group’s outlook. Measures are in progress to return the Group to its growth path.

For the full year 2024, organic Group sales are expected to be between €260 and €280 million. Total customer acquisition costs are forecast to be between €80 and €100 million and EBITDA is thereby expected to range between €10 and €20 million. Furthermore, revenue of around €325 million is estimated to be achieved in the full year 2025. The mid-term Group sales target is to achieve a run rate during the fourth quarter of 2026, which realises an annual revenue of more than €400 million going forward.

For the second quarter 2024, the Management Board expects revenues of about €68 million (2Q 2023: €77 million). Due to the early stage of the process, an estimate of further financial indicators for 2Q 2024 involves uncertainties at the moment. Nevertheless, the Management Board expects that the EBITDA margin will reach a similar range as in the first quarter of 2024.

The decrease in Group revenue is predominantly attributable to the Group’s transition to new sales channels, poor European performance and overall weaker consumer sentiment. With the new “Magnificent Seven” sales channels, we were not yet able to compensate for the lower sales generated from the Google Display channel. In addition, the higher churn rate led to a lower expected average lifetime value of new and existing customers, which resulted in lower revenues. Subsequently, the Group had to reduce the target CPA (Cost per Acquisition) in order to safeguard its gross profit going forward. By lowering the CPA, the number of impressions purchased in the bidding systems of our sales channel partners decreased, which then led to lower new customer acquisitions.

Management Board statement

“The transition and restructuring process takes longer than anticipated and as such it takes longer to improve results,” said Luc Voncken, CEO. “We will heighten our focus on generating productivity gains, cutting costs and speeding up our Group-wide transformation. My team and I are fully engaged in the process of steadying our course and stabilising our business development and we predict a pick-up in earnings later this year.”

 

 

Contacts

Investor Relations:

Sebastian McCoskrie, s.mccoskrie@cliqdigital.com, +49 151 52043659

Media Relations:

Daniela Münster, daniela.muenster@h-advisors.global, +49 174 3358111

 

Financial calendar

Half-year financial report 2024 and audio conferenceThursday8 August 2024
Financial report Q3/9M 2024 and audio conferenceThursday7 November 2024

 

About CLIQ Digital

The CLIQ Digital Group is a leading online performance marketing company that distributes subscription-based streaming services that bundle films & series, music, audio books, sports and games to consumers worldwide. The Group licences streaming content from partners, bundles it and sells the content via its numerous streaming services. Over the years, CLIQ has become a specialist in online advertising and the design of streaming services tailored to specific consumer groups. CLIQ Digital operates in over 40 countries and employed 170 people from 40 different countries as of 31 December 2023. The company is headquartered in Düsseldorf and has offices in Amsterdam, Paris and Toronto. CLIQ Digital is listed in the Scale segment of the Frankfurt Stock Exchange (WKN: A35JS4, ISIN: DE000A35JS40) and is a member of the MSCI World Micro Cap Index.

Visit our website https://cliqdigital.com/investors. Here you will find all publications and further information about CLIQ Digital. You can also follow us on LinkedIn.



12.07.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language:English
Company:Cliq Digital AG
Grünstraße 8
40212 Düsseldorf
Germany
E-mail:s.mccoskrie@cliqdigital.com
Internet:www.cliqdigital.com
ISIN:DE000A35JS40
WKN:A35JS4
Indices:Scale 30
Listed:Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:1945613

 
End of NewsEQS News Service

1945613  12.07.2024 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=1945613&application_name=news&site_id=symex~~~af100301-a623-4c64-8f3d-90fc88eca9e6
See all Cliq Digital AG news