Fyber N.V.: published results for H1 2020
DGAP-News: Fyber N.V.
/ Key word(s): Half Year Results/Forecast
Fyber N.V. published results for H1 2020
Berlin, 26 August 2020 - Fyber N.V. ("Fyber" or the "Company", FSE:FBEN), a leading mobile advertising technology company, today published its financial results for the first half of 2020. Fyber's revenue grew by 21% to €65.2 million (H1 2019: €54.1 million), based on a 33% increase in its programmatic business, a quadrupling of revenue from programmatic video advertising and stable development for Offer Wall Edge. Video now accounts for 20% of the overall business and is set to increase its share further. 68% of revenue stems from programmatic trading, up from 61% during H1 2019. The general economic slowdown caused by the COVID-19 pandemic led to limited available advertising budgets and specifically a decrease in brand advertising activity within the ad tech market. For Fyber, this meant a change in revenue mix in favor of an increased share of video advertising, which generally generates lower revenue margins than the Company's display offering. The gross profit amounted to €8.9 million (H1 2019: €9.9 million). The reduction in operating and personnel costs of €2.3 million enabled limiting the adjusted EBITDA loss at €-1.7 million (H1 2019: €-1.6 million), in line with the Company's full-year planning of achieving an adjusted EBITDA of at least break-even for the full year 2020. Acknowledging that further developments in relation to COVID-19 and new privacy regulations by Apple are uncertain and not quantifiable at this point in time, the Company expects to achieve a revenue between €155 million and €165 million for the full year 2020, putting year-over-year revenue growth at above 30%. Ziv Elul, CEO of Fyber, commented: "Fyber achieved a strong start to the year despite the challenging market situation. The growth in video advertising of more than 300% compared to H1 2019 exceeded our expectations, driving further organic growth in programmatic trading and a 21% rise in overall revenue. Our proactive approach in reacting to COVID-19 is centered around the safety of our people first, while focusing on reducing operational and personnel costs without jeopardizing our product and business efforts - all successfully implemented. The various growth initiatives in place, including further expanding the revenue share from video advertising as well as Fyber FairBid's market footprint allow for a positive outlook on the rest of the year." The complete interim statement is available on the Fyber website under: https://investors.fyber.com/reports-presentations.
*Note: Unaudited, adjusted EBITDA excluding one-off impacts, not a measure calculated in accordance with IFRS. ### About Fyber Investor Contact
26.08.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | Fyber N.V. |
Wallstr. 9-13 | |
10179 Berlin | |
Germany | |
Phone: | +49 30 609 855 528 |
E-mail: | governance@fyber.com |
Internet: | https://investors.fyber.com/ |
ISIN: | NL0014433377 |
WKN: | A2P1Q5 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Tradegate Exchange |
EQS News ID: | 1123207 |
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1123207 26.08.2020