July 2020

CLIQ Digital AG: QUIRIN Privatbank Equity Research raises the price target to EUR 16.00 after increased company outlook for 2020 and confirms “BUY” recommendation

  • 09/07/2020

Dusseldorf, 9 July 2020 – The analysts of QUIRIN Privatbank Equity Research have recently published a new research update on the CLIQ Digital share (ISIN DE000A0HHJR3, GSIN A0HHJR), a leading digital lifestyle company, providing consumers worldwide with streaming entertainment services.

After the considerably increased outlook for the current financial year, communicated by the Company’s Management on 6 July 2020, QUIRIN decided to raise its price target from EUR 10.00 up to EUR 16.00. Consequently, the analysts’ recommendation has remained “BUY”. Based on the new outlook for this year, CLIQ Digital estimates gross revenues of approximately EUR 90 million, which means a growth rate of more than 40% compared to the financial year 2019, and an EBITDA of at least EUR 10 million, corresponding to approximately 75% more than the 2019 financial year.

CLIQ Digital expects a stronger increase in its gross revenue and EBITDA for the year due to the high levels of marketing spend during the first six months of this financial year. During the second quarter, the Company was also able to maintain its important KPI CLIQ Factor (a key indicator for measuring the profitability of new customers) above 1.58, the number indicated in its previous outlook for this financial year 2020.

 

The analysts of QUIRIN stated that the strong improvements of CLIQ are caused by the Company´s successful media buying strategy, combined with attractive content offerings. Furthermore, a major source of growth lies in the expected increasing marketing spend from its former outlook (EUR 26 million) to approximately EUR 30 million, which should pave the way for further growth even after full year 2020.

You can find the current commentary by QUIRIN Privatbank Equity Research on the CLIQ Digital AG website under the following link:

/blog/front-IR/analysts/

CLIQ Digital AG increases outlook for the current financial year

  • 06/07/2020

Dusseldorf, 6 July 2020 – The Management Board of CLIQ Digital AG (ISIN DE000A0HHJR3, WKN A0HHJR) has resolved today to increase its outlook for the current financial year 2020. The Company expects a stronger increase of its gross revenue for the year due to the high levels of marketing spend in the first six months of the financial year. During the second quarter, the Company was also able to maintain its important KPI CLIQ factor above the 1.58 indicated in its previous outlook for this financial year 2020.

The Management Board now estimates that in the financial year 2020 gross revenues of approximately EUR 90 million (corresponding to a growth rate of more than 40% compared to the financial year 2019) and an EBITDA of at least EUR 10 million (corresponding to a growth rate of approx. 75% compared to the financial year 2019) will be realized. At the same time the Management Board expects a marketing spend of approximately EUR 30 million (corresponding to a growth rate of approx. 35% compared to the financial year 2019). Previously, the Management Board expected for the financial year 2020 a gross revenue of at least EUR 75 million, marketing spend of EUR 26 million and an EBITDA of at least EUR 7.5 million. All numbers were determined on a consolidated basis under IFRS.

The Company will publish its half year figures on 20 August 2020.

CLIQ Digital AG: Hauck & Aufhäuser starts coverage of CLIQ Digital with a buy recommendation and a price target of EUR 17.00

  • 02/07/2020

Dusseldorf, June 29, 2020 – The analysts of Hauck & Aufhäuser Privatbankiers AG have started coverage of the CLIQ Digital share (ISIN DE000A0HHJR3, GSIN A0HHJR).

cliqdigital.com/download-hauck-aufhauser/

Analyst Marie-Therese Gruebner issues a buy recommendation with a price target of EUR 17.00, based on a combination of free cash flow yield based on her 2021 estimates and a discounted cash flow model. This corresponds to an upside potential at the current share price of around 150%.

In the initial study, Hauck & Aufhäuser particularly emphasizes on the high competence and efficiency in the marketing of streaming entertainment services. The robust consumer demand for streaming entertainment services, efficient direct media buying and offering a multi-content portal will, according to the analysts, allow a doubling of the return on capital employed to more than 16% by 2022. Based on this, they expect growth in earnings per share of 44% per year on average until 2022, combined with high free cash flows, which will allow a generous dividend policy with a dividend yield of 6.2% on average.

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