ad pepper media International N.V.: restrained start to Q1 2022

Nuremberg, Amsterdam, 22 April 2022

ad pepper Group, one of the leading performance marketing companies in Europe, recorded a 15 percent decline in revenue in the first quarter of 2022 to EUR 5,871k (Q1 2021: EUR 6,884k); EBITDA fell to EUR 33k (Q1 2021: EUR 1,306k).

While the ad pepper segment saw a reduction in revenue of 42 percent to EUR 714k (Q1 2021: EUR 1,234k), Webgains also performed weakly in the first quarter of 2022 with a decline in revenue compared to the prior-year quarter of 17 percent to EUR 3,231k (Q1 2021: EUR 3,888k). A challenging environment with restrained campaign bookings from customers due to supply chain issues as well as subdued e-commerce activities, particularly in the UK, which is the domestic market for Webgains, weighed on the revenue development of both segments. The third segment, ad agents, on the other hand, continued its growth trajectory despite some order cancellations of customers affected by the war in Ukraine and achieved a 9 percent increase in revenue to EUR 1,926k (Q1 2021: EUR 1,762k).

The decline in revenue at Webgains and ad pepper weighed on the operating earnings development of both segments with EBITDA in parts significantly below the corresponding prior-year level in the first quarter of 2022: Webgains generated EUR 133k (Q1 2021: EUR 1,037k), while ad pepper reported EUR 34k (Q1 2021: EUR 534k). The ad agents segment achieved a stable EBITDA of EUR 250k (Q1 2021: EUR 249k).

In the quarter ahead, we expect the booking and online consumer behaviour trend to normalise again. From today's point of view, we therefore expect Group revenue to range between EUR 6,300k and EUR 6,500k (Q2 2021: EUR 6,516k).

The report for the first quarter of 2022 will be published on 25 May 2022.

Key figures (unaudited) in EURk:

*including securities at fair value

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