- 2020 audited consolidated financial statements confirm preliminary figures released on 9 February
- All company targets exceeded thanks to structural growth drivers
- Net result for 2020: €10.4m (PY: €3.9m) up by 168%; EPS: €1.16 (PY: €0.36)
- Dividend of €0.46 (PY: €0.28) per share to be proposed to AGM
- Strong outlook supports profitable growth strategy
CLIQ Digital AG (CLIQ.DE, ISIN: DE000A0HHJR3, WKN: A0HHJR), a leading digital lifestyle company, which provides streaming entertainment services to consumers worldwide with unlimited access to music, audiobooks, games, sports and movie content, publishes today its annual report 2020 including the outlook for 2021 and announces its dividend proposal.
Statement from Luc Voncken, CEO:
“2020 was a breakout year for CLIQ – a real game changer. Our growth resulted first and foremost from our business strategy and its execution and is structural. With our strategic shift in media buying from affiliate marketing to our own, direct buying team and the investments made in our streaming content services, we laid the foundation for a sustainable growth path.”
The audited 2020 financials are in line with the preliminary results announced on 9 February 2021: Sales and EBITDA grew against prior year by 69% to €107.0m and 177% to €15.9m respectively. The EBITDA margin was 15% p.a. (in per cent of gross revenue) and the annual marketing spend was €34.2m (PY: €22.2m). The net result for the period increased by 168% to €10.4m and earnings per share amounted to €1.16. According to the company’s dividend policy (40% payout ratio), the Management and Supervisory Boards propose distributing a dividend per share of €0.46 (PY: €0.14 basic dividend and €0.14 bonus dividend distributed) to the next Annual General Meeting on 29 April 2021.
in millions of € |
| | Change |
Gross revenue | 63.1 | 107.0 | +69% |
Net revenue | 44.3 | 81.5 | +84% |
Marketing spend | 22.2 | 34.2 | +54% |
EBITDA | 5.8 | 15.9 | +177% |
Net result | 3.9 | 10.4 | +168% |
EPS (in €) | 0.36 | 1.16 | +222% |
CLIQ Digital’s strong balance sheet reported an equity ratio increase to 72% (PY: 68%) and a net cash position of €0.9m against a net debt position of -€9.6m as at the year-end closing 2019. The strong cash inflow from operations in particular led to a positive free cash flow of €10.5m notwithstanding the dividend payment of €2.1m.
Outlook 2021:
Based on CLIQ Digital’s successful business strategy, the company is expecting to increase its gross revenue to at least €140m in FY 2021 on the back of approximately €46m marketing spend and thereby generate an EBITDA of around €22m, which results in a margin of c.16% p.a.
Statement from Ben Bos, member of the Management Board:
“We firmly believe that consumer habits and behaviour with regards to the demand and consumption of digital entertainment are truly sustainable and will fully support CLIQ’s growth plans going forward. One of the biggest growth drivers in 2021 will continue to be our All-in-One offering to all our members, which will be further rolled out around the world. CLIQ Digital will continue to strive for operational excellence and focus on improving and expanding its streaming entertainment services. We are well on track to gain more market share and grow our business to the next level.”
For more information, please refer to our Annual Report 2020 and join today’s earnings call with corresponding slides deck.
Earnings call details:
Management Board member, Ben Bos, will present CLIQ Digital's FY 2020 financial results and FY 2021 outlook during an audio conference call. This earnings call will commence today at 2.00 p.m. CET and be conducted in English.
To attend the call, participants are required to register by clicking on the link below and will then receive personalised dial-in details:
https://us02web.zoom.us/webinar/register/WN_VbARpPKrQwq-_gwJZntoLg
Management will answer questions submitted via email to investors@cliqdigital.com no later than 60 minutes prior to the call. A recording of the webcast will be available following the call at https://cliqdigital.ag/investors/financials.