- Achievement of the 2022 revenue target of €22.1
million
- Improvement in gross margin rate by 9 points to 60% in
2022
- Achievement of operating profitability with an EBITDA of
€3.1 million in 2022
- Strong cash position: €6.4 million at December 31,
2022
Regulatory News:
ALCHIMIE (FR0014000JX7 - ALCHI - PEA-PME eligible)
(Paris:ALCHI), a video streaming platform and creator of
subscription-based and ad-supported video-on-demand channels (SVOD
and FAST1 ) serving brands and companies as well as the general
public, today announced its consolidated annual results for the
year ended December 31, 2022, as approved by the Board of Directors
on April 20, 2023.
Pauline Grimaldi d'Esdra, CEO of Alchimie, said: "The
year 2022 marks the successful restructuring of the Company with,
on the one hand, the achievement of our financial objectives and,
on the other hand, the diversification of our offer in order to
develop new growth drivers. Indeed, we have achieved our revenue
target and have reached operational profitability, with an EBITDA
of more than €3 million. In 2023, while preserving a healthy cost
structure, our ambition is to capitalize on the Tech assets of our
platform. We are marketing our solution to companies to create
their internal and partner communication media, and we are offering
them SaaS access to technological bricks (via API) enabling them to
exploit the full spectrum of video and streaming functions within
their applications”.
Consolidated income statement (IFRS)
In thousands of euros
31.12.2022
31.12.2021
% change
Revenues
22,070
32,223
-31.5%
Cost of sales
-8,844
-15,639
-43.4%
Gross margin
13,226
16,584
-20.2%
Technology and development costs
-4,436
-4,669
-5.0%
Marketing and sales expenses
-2,833
-15,083
-81.2%
General and administrative expenses
-5,946
-5,405
+10.0%
Operating income
11
-8,574
-99.9%
Financial result
-648
-168
Consolidated net income
-700
-9,038
-92.3%
EBITDA
3,061
(6,792)
Cash position end of period
6,403
7,061
-9.3%
Business activity and financial results 2022
As announced at the time of the 2022 revenue release, the
concentration of the Company's resources on high-potential channels
has paid off, enabling Alchimie to exceed its revenues target of
€20 million with revenues of €22.1 million. This good level of
activity was mainly generated by the results of the subscriber
bases in France and Germany.
Cost of sales fell sharply to €8.8 million, compared with €15.6
million in the previous year. This decline was due to the
rationalization of content licensing costs, particularly in the
United Kingdom, and technical costs incurred in the Video
segment.
With a gross margin of €13.2 million at the end of December
2022, the gross margin rate is 60%, up 9 points compared to the
previous year.
Operating expenses fell sharply (-48%), reflecting the
restructuring completed in May and the decision to reduce marketing
expenses. As a result, the Company reduced its fixed costs by 32%
(excluding severance costs) and marketing and sales expenses fell
by 81% in FY 2022. General and administrative expenses increased by
10% due to the impairment of goodwill on certain assets.
All the measures taken in 2022 have enabled Alchimie to achieve
a 2022 EBITDA of €3.1 million compared to €-6.8 million a year
earlier, and a positive operating result at €11k, compared to an
operating loss of €8.6 million in 2021.
The financial result for 2022 amounts to €-648k and includes in
part the interest on the HLD Europe current account and a negative
exchange rate difference.
In total, the consolidated net loss for the year 2022 is reduced
to €-700k, compared to €-9.0 million in 2021.
Financial situation of the Group
Consolidated shareholders' equity is negative and amounts to
€-1.0 million as of December 31, 2022, impacted by the loss for the
year 2021 of €9.0 million.
The cash position at the end of December 2022 will be €6.4
million in 2022, compared with €7.1 million at December 31,
2021.
In terms of financial resources, Alchimie maintains a rigorous
management of its costs to preserve its cash and does not plan to
call on the market given its cash position at the end of December
2022.
Strategy and outlook 2023
In 2023, Alchimie is evolving its offering with the objective of
further monetizing its Tech assets.
The Company has developed a SaaS (Software-as-a-Service)
offering to enable companies to improve their image through a
single video streaming platform. The offer is intended to cover
their internal communication needs (HR, CSR, integration and
retention of talents, knowledge sharing, etc.) or with their
partners (presentation of strategies, products, collections, etc.).
This all-in-one solution brings together all the know-how of
Alchimie's platform (video storage, encoding of streams, content
editorialization, multi-terminal broadcasting, etc.), allowing
companies to use it completely independently without an IT team,
with real-time monitoring of use.
At the same time, Alchimie is preparing the launch of its SaaS
offer via API named VideoBricks dedicated to companies and
professionals willing to enrich their applications with video and
streaming functionalities. The agile solution removes the
technological complexity of video and is deployed without any
infrastructure investment. The full range of video functionality in
Alchimie's platform will be made available "off-the-shelf" via
APIs; the VideoBricks offering will be launched by the end of the
first half of 2023.
The objectives for 2023 are to start marketing
Software-as-a-Service offers to take over the subscriber bases of
existing services, the promotion of which was stopped at the
beginning of 2022, and to build an efficient sales organization
adapted to the new value proposition and the new distribution.
At the same time, the Company will continue to manage its
activities by maintaining rigorous cost control and is targeting a
break-even EBITDA by the end of 2023.
Alchimie is publishing its 2022 Annual Financial Report today,
available on its website:
https://www.alchimie-finance.com/en/documentation-gb/financial-report
***
Annual General Meeting: June 7, 2023, the terms of
participation will be communicated later.
Next financial release: H1 2023 results, October 17, 2023
after market close.
About Alchimie
Alchimie is a unique video streaming platform allowing companies
and creators to build their own video channel, their internal
communication media and partners. Alchimie also offers VideoBricks,
the SaaS access to the technological bricks (via API) of
exploitation of the video and streaming functions. Alchimie has a
catalog of video content from more than 300 prestigious partners
(Arte, France TV distribution, ZDF Entreprises or Zed).
For more information: www.alchimie-finance.com /
www.alchimie.com
1 FAST: Free Ad-supported Streaming TV, linear OTT channels
financed by advertising
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230425005579/en/
Alchimie Stéphane Taillefer Financial Director
investors@alchimie.com
NewCap Thomas Grojean/Louis-Victor Delouvrier Investor
Relations alchimie@newcap.eu 01 44 71 94 94
NewCap Nicolas Merigeau Media Relations
alchimie@newcap.eu 01 44 71 94 98
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