ad pepper media International N.V.: Double-digit growth in the third quarter

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Nuremberg, Amsterdam, 19 October 2021

ad pepper Group, one of the leading performance marketing companies in Europe, achieved double-digit growth in the third quarter. Gross sales increased by around 20 percent to EUR 27,718k (Q3 2020: EUR 23,152k). Group revenue amounts to EUR 7,004k, which equates to around 17 percent growth (Q3 2020: EUR 6,011k). The revenue level achieved in Q3 2021 thus corresponds to the forecast for the third quarter of approximately EUR 7,000k, which had been announced along with the publication of the half-year results.

Growth was mainly driven by the Webgains segment with an increase of 33 percent to EUR 4,056k (Q3 2020: EUR 3,056k) and the ad agents segment, with an increase in revenue of 31 percent to EUR 2,240k (Q3 2020: EUR 1,707k). The ad pepper segment suffered a decline in revenue of 43 percent to EUR 708k (Q3 2020: EUR 1,248k).

Group EBITDA for the third quarter amounts to EUR 1,215k (Q3 2020: EUR 1,509k). The ad agents segment was able to increase its EBITDA to EUR 593k (Q3 2020: EUR 446k), while the Webgains segment generated EBITDA of EUR 1,049k in the third quarter (Q3 2020: EUR 894k) and the ad pepper segment achieved EBITDA of EUR 110k (Q3 2020: EUR 497k).

In the first nine months of the financial year, the Group generated gross sales of EUR 81,757k (Q1-Q3 2020: EUR 68,159k) and Group revenue of EUR 20,404k (Q1-Q3 2020: EUR 17,968k), corresponding to around 20 percent and 14 percent growth, respectively. EBITDA in the first nine months amounted to EUR 3,558k (Q1-Q3 2020: EUR 4,313k). The Group’s operating costs were mainly driven by new hires in the ad agents and Webgains segments. In these segments, the headcount was raised by around 15 percent and 10 percent, respectively, compared to the previous year.

This means that overall, the trends already visible in the first half of the year continued in the third quarter: a strong performance of the ad agents and Webgains segments contrasted with a development of the ad pepper segment that remained below the prior-year levels. In an otherwise intact market environment with, in part, dynamic growth rates, we currently expect Group revenue to reach up to EUR 8,000k (Q4 2020: EUR 7,648k) in the upcoming quarter.


The report for the first nine months 2021 will be published on 18 November 2021.

Key figures (unaudited) in kEUR:

  Q3 2021 Q3 2020 Q1-Q3 2021 Q1-Q3 2020
Gross sales 27,718 23,152 81,757 68,159
% growth 19.7 20.0
Revenue 7,004 6,011 20,404 17,968
% growth 16.5 13.6
    of which ad pepper 708 1,248 2,874 4,129
    % growth -43.3 -30.4
    of which ad agents 2,240 1,707 5,916 4,858
    % growth 31.3 21.8
    of which Webgains 4,056 3,056 11,614 8,981
    % growth 32.7 29.3
EBITDA 1,215 1,509 3,558 4,313
    of which ad pepper 110 497 849 1,703
    of which ad agents 593 446 1,221 756
    of which Webgains 1,049 894 2,905 3,062
    of which admin -537 -328 -1,417 -1,208
Liquid funds* 23,137 24,300

*including securities at fair value


For more information:
Jens Körner (CEO)
ad pepper media International N.V.
+49 (0) 911 929057-0