ad pepper media International N.V. announces second quarter results

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Nuremberg, Amsterdam, 20 July 2023

In line with the announcement published along with the Q1 results in April of this year, sales of the ad pepper group, one of Europe’s leading performance marketing companies, remained below the previous year’s level in the second quarter of 2023. Gross sales were down 10 percent to EUR 20,967k (Q2 2022: EUR 23,191k), while Group revenue amounted to EUR 5,399k, which is 8 percent below the prior-year value (Q2 2022: EUR 5,882k). The Webgains, ad agents and ad pepper segments posted a decrease in revenue of 4 percent, 11 percent and 18 percent to EUR 2,924k (Q2 2022: EUR 3,031k), EUR 1,866k (Q2 2022: EUR 2,108k) and EUR 609k (Q2 2022: EUR 743k).

Group EBITDA stood at EUR -118k in the second quarter (Q2 2022: EUR -186k). At segment level, Webgains contributed Q2 EBITDA of EUR 288k (Q2 2022: EUR -270k), while ad agents came out with EUR 72k (Q2 2022: EUR 212k) and ad pepper with EUR 31k (Q2 2022: EUR 132k).

In total, the ad pepper group generated gross sales in the first six months of 2023 of EUR 40,559k (H1 2022: EUR 46,406k), while Group revenue amounted to EUR 10,498k (H1 2022: EUR 11,753k), representing a decrease of EUR 1,255k or 11 percent. H1 EBITDA came to EUR -446k (H1 2022: EUR -153k).

Various cost optimisation measures were initiated and make us more efficient and leaner as we enter the second half of the year. We are therefore cautiously optimistic with regard to our performance in the upcoming half-year – not least due to a tentative recovery of our customers’ e-commerce and advertising activities. However, the general environment remains challenging in view of macroeconomic and geopolitical uncertainties.

The report for the first six months of 2023 will be published on 18 August 2023.

Key figures (unaudited) in EURk:

	Q2 2023	Q2 2022	H1 2023	H1 2022
Gross sales	20,967	23,191	40,559	46,406
% growth	-9.6		-12.6
Revenue	5,399	5,882	10,498	11,753
% growth	-8.2		-10.7
of which ad pepper	609	743	1,140	1,457
% growth	-18.1		-21.7
of which ad agents	1,866	2,108	3,608	4,034
% growth	-11.5		-10.6
of which Webgains	2,924	3,031	5,750	6,262
% growth	-3.5		-8.2
EBITDA	-118	-186	-446	-153
of which ad pepper	31	132	33	166
of which ad agents	72	212	-25	462
of which Webgains	288	-270	476	-137
of which admin	-509	-260	-930	-644
Liquid funds*			21,519	21,049

*Including securities at fair value.

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