Cliq Digital AG / DE000A35JS40
12.07.2024 - 17:28:01CLIQ Digital‘s Outlook 2024 Readjustment
| Cliq Digital AG / Key word(s): Change in Forecast 12.07.2024 / 17:28 CET/CEST The issuer is solely responsible for the content of this announcement. DÜSSELDORF, 12 July 2024 – Based on the preliminary sales and earnings data for the second quarter 2024, CLIQ Digital readjusted its 2024 and medium-term outlook yesterday. Due to the 2Q 2024 sales performance, the Management Board decided to readjust the Group’s outlook. Measures are in progress to return the Group to its growth path. For the full year 2024, organic Group sales are expected to be between €260 and €280 million. Total customer acquisition costs are forecast to be between €80 and €100 million and EBITDA is thereby expected to range between €10 and €20 million. Furthermore, revenue of around €325 million is estimated to be achieved in the full year 2025. The mid-term Group sales target is to achieve a run rate during the fourth quarter of 2026, which realises an annual revenue of more than €400 million going forward. For the second quarter 2024, the Management Board expects revenues of about €68 million (2Q 2023: €77 million). Due to the early stage of the process, an estimate of further financial indicators for 2Q 2024 involves uncertainties at the moment. Nevertheless, the Management Board expects that the EBITDA margin will reach a similar range as in the first quarter of 2024. The decrease in Group revenue is predominantly attributable to the Group’s transition to new sales channels, poor European performance and overall weaker consumer sentiment. With the new “Magnificent Seven” sales channels, we were not yet able to compensate for the lower sales generated from the Google Display channel. In addition, the higher churn rate led to a lower expected average lifetime value of new and existing customers, which resulted in lower revenues. Subsequently, the Group had to reduce the target CPA (Cost per Acquisition) in order to safeguard its gross profit going forward. By lowering the CPA, the number of impressions purchased in the bidding systems of our sales channel partners decreased, which then led to lower new customer acquisitions. Management Board statement “The transition and restructuring process takes longer than anticipated and as such it takes longer to improve results,” said Luc Voncken, CEO. “We will heighten our focus on generating productivity gains, cutting costs and speeding up our Group-wide transformation. My team and I are fully engaged in the process of steadying our course and stabilising our business development and we predict a pick-up in earnings later this year.” Contacts Investor Relations: Sebastian McCoskrie, s.mccoskrie@cliqdigital.com, +49 151 52043659 Media Relations: Daniela Münster, daniela.muenster@h-advisors.global, +49 174 3358111 Financial calendar
12.07.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| Language: | English |
| Company: | Cliq Digital AG |
| Grünstraße 8 | |
| 40212 Düsseldorf | |
| Germany | |
| E-mail: | s.mccoskrie@cliqdigital.com |
| Internet: | www.cliqdigital.com |
| ISIN: | DE000A35JS40 |
| WKN: | A35JS4 |
| Indices: | Scale 30 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1945613 |
| End of News | EQS News Service |
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