AudioValley is researching several ways to secure funding for the Winamp sector

For the full year, AudioValley Group sales reached 28.3ME compared to 19.5ME in 2020, an increase of + 48.2% at a constant exchange rate compared to 2020. This reflects a more widespread and strong recovery, especially from the second quarter. , Accelerating the adoption of digital audio around the world.

The Targetspot division, which accounts for 92% of the Group’s sales, continued to benefit from the adoption of digital audio by advertisers looking for new distribution channels for their advertising campaigns. Sales will increase by 50%.
Europe was very strong (+ 32%, 7.9 ME), despite still being affected by the Covid crisis, while the United States was superior with a 60% (18 ME) increase. In 2021, 11 new commercial partnerships were signed at Targetspot, many of which took place in the second half of the year. Therefore, these will have a positive effect in the coming months, suggesting that 2022 is a good year.

As part of that, the Winamp division (8% of group sales), which includes Jamendo, which sells the work of 45,000 musicians, was once again strongly affected by the Covid crisis earlier this year (13). 1st quarter)%) compared to the 1st quarter of 2020, then recovered and balanced with a slight growth (2.2 ME) of 1.8% compared to 2020. The bridger was officially launched in April 2022.

Consolidated gross profit margin continued to rise from 47.5% to 48.5% (after rising from 44.3% in 2019 to 47.5% in 2020).

The financial results at the end of fiscal year 2021 were -2.8ME compared to -1.9ME in 2020. Half (-1.4 ME) is due to the recognition of non-convertible premium (4%) convertible bonds (this impact did not exist in the 2020 account), -900 KE on interest on bonds and convertible bonds Relatedly, -300KE is due to factoring interest.
In total, the Group posted a negative net result of -6.4 ME against -4.8 ME in 2020. As already mentioned, this result will affect -3.5ME due to accounting adjustments that do not affect the Group’s cash.

As of December 31, 2021, the Group’s capital was € 16.6 million. Closing cash increased by € 2.8 million compared to € 0.8 million at the end of 2020, affected by the large investment made to develop the Winamp division (a significant strengthening of the dedicated team).

Fiscal 2021 financial debt is equivalent to € 17.6 million, compared to € 15.3 million at the end of 2020.

Outlook 2022

2022 was a very good start for the Targetspot division (see first quarter revenue below). The 11 new contracts signed in 2021 should bear fruit this year and help support the growth of the sector. “We hope that the ongoing shift in advertising campaigns from traditional FM radio to digital audio media (smartphone applications, intelligent voice assistants, podcasts, video games, etc.) will enable us to better target our audience.” Said management.
The launch of a new bridger rights management business (based on the liberalization of collective rights management in Europe) is expected to generate revenue from the second half of 2022. It targets an estimated € 10 billion market in Europe. Open up a share.

However, the large-scale recruitment plan launched in 2021 will have a significant impact on the Group’s cash position until the first revenue is generated, so the Group will secure funding for the Winamp division after the beginning of June 2022. I’m considering several ways to do this.

Revenue for the first quarter of 2022

60% growth in Targetspot Europe!
Revenues in the first quarter increased by 30% (+ 21.5% at constant exchange rates) to reach € 6.6 million compared to the first quarter of 2021.
This growth momentum comes from the Targetspot division, which recorded revenue of € 6.1 million, an increase of 34.6% (+ 25% in cc) compared to € 4.6 million in the first quarter of 2021.
Growth was driven by both the United States (+ 23%, + 13.1% at constant exchange rates) and Europe, which recorded a remarkable recovery with sales growth of 60.4% compared to the first quarter of 2021. ..