ad pepper media International N.V.: Revenue and EBITDA down on prior year

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Nuremberg, Amsterdam, 21 April 2023

ad pepper Group, one of Europe’s leading performance marketing companies, recorded a 13.2 percent decline in revenue to EUR 5,099k in the first quarter of 2023 (Q1 2022: EUR 5,871k); EBITDA decreased to EUR -328k (Q1 2022: EUR 33k).

The ad pepper segment generated revenue of EUR 531k (-25.5 percent), while Webgains recorded a 12.5 percent decline in revenue to EUR 2,826k. At EUR 1,742k, the ad agents segment also reported a 9.6 percent lower revenue than in the first quarter of 2022.

Development of the segment EBITDAs was as follows: while ad pepper posted EUR 1k (Q1 2022: EUR 34k) and ad agents EUR -97k (Q1 2022: EUR 250k), thus remaining below the corresponding prior-year levels, Webgains generated an improved EBITDA compared to the previous year with EUR 189k (Q1 2022: EUR 133k).

The subdued start to the current financial year in the ad pepper and ad agents segments is primarily due to lower or postponed bookings on the part of our advertising partners. The Webgains segment, on the other hand, was able to cushion the restrained e-commerce sales in its UK home market by a reduction in personnel costs. We expect a slight improvement in the current quarter, but still see Group revenue below the prior-year level.

The report for the first quarter of 2023 will be published on 26 May 2023.


Key figures (unaudited) in EURk:

Gross sales 19,593 23,215
% growth -15.6
Revenue 5,099 5,871
% growth -13.2
of which ad pepper 531 714
% growth -25.5
of which ad agents 1,742 1,926
% growth -9.6
of which Webgains 2,826 3,231
% growth -12.5
EBITDA -328 33
of which ad pepper 1 34
of which ad agents -97 250
of which Webgains 189 133
of which admin -421 -384
Liquid funds* 21,297 20,480

* Including securities at fair value.


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