- H1 2024 revenue of €4.2 million, in line with annual
guidance close to €8 million
- Strong gross margin maintained at 71%
- H1 2024 EBITDA breakeven
- Solid cash position of €4.5 million as of June 30,
2024
Regulatory News:
ALCHIMIE (FR0014000JX7 – ALCHI – PEA-PME eligible), a
channel factory enabling brands, media and companies to create,
design and animate their own themed video channels and stream their
video contents, today announces its consolidated half-year results
as of June 30, 2024.
Pauline Grimaldi d’Esdra, CEO of Alchimie, states: "The
evolution of Alchimie's historical business model in 2023 towards
SaaS and VPaaS (Video Platform as a Service) businesses has been
slow to bear fruit. Nevertheless, we are reporting revenue
exceeding €4.2 million, in line with our forecasts at the start of
the year along with positive EBITDA for the first half of the year.
The end of 2024 will be highlighted by accelerated roll-out of our
new offerings, such as the launch of Maisonsdumonde+. We confirm
our annual revenue target of approximately €8 million, while
carefully maintaining a reasonable cost structure to secure both
our margins and cash position".
Consolidated income statement (IFRS)
In thousands of euros
06.30.2024
06.30.2023
Revenue
4,239
6,214
Cost of sales
(1,250)
(2,441)
Gross margin
(2,989)
3,773
Technology and development costs
(1,578)
(1,622)
Marketing and sales expenses
(691)
(723)
General and administrative expenses
(1,404)
(2,137)
Operating income
(684)
(709)
Financial result
76
3
Consolidated net income
(737)
(845)
EBITDA
31
325
Cash position end of period
4,513
6,189
First-half 2024 revenue and financial results
As of June 30, 2024, revenue stood at €4.2 million, compared to
€6.2 million as of June 30, 2023, a level of activity in line with
the guidance announced earlier this year. Alchimie continued to
benefit from the residual historical subscriber base in France and
Germany. However, the results of the strategic shift towards
marketing of the new SaaS and VPaaS offerings, videowall and
42videobricks, fell below the Company's expectations, with a
slower-than-expected rollout.
The ongoing streamlining of content licensing and technical
costs incurred in the Video segment has enabled Alchimie to
significantly reduce its cost of sales, down 49% compared to the
first half of 2023, at €1.3 million. The gross margin rate stands
at 71%, higher than the one recorded as of June 30, 2023, following
the reversal of certain provisions which had a positive impact.
Operating expenses dropped by 18% to €3.7 million as of June 30,
2024, compared to €4.5 million a year earlier. More specifically,
Alchimie reports a moderate decrease in technology and development
costs (-3%) and in marketing and sales expenses (-4%), while
general and administrative expenses fell more sharply to €1.4
million, a reduction of around 34%.
As a result of all the measures taken by Alchimie to ensure
strict and controlled cost management, EBITDA remained positive at
the end of June 2024 (€31k), compared to €326k a year earlier.
Operating income remained stable, with a loss of €0.7 million, a
level similar to that at June 30, 2023.
After incorporating financial income of €76k, the consolidated
net loss came to -€0.7 million, compared to -€0.8 million at the
end of June 2023.
Financial situation of the Group
Consolidated shareholders' equity stood at -€3.8 million as of
June 30, 2024, down €0.9 million over the half-year. This change is
mainly due to the loss of €0.7 million incurred during the first
half of 2024.
The cash position stood at €4.5 million as of June 30, 2024,
compared to €5.3 million as of December 31, 2023, a decrease of
€0.8 million.
In terms of financial resources, and given its current cash
position, Alchimie is maintaining rigorous cost management to
preserve cash, and does not plan to call on the market.
Strategy and outlook
Alchimie continues to review its business portfolio to explore
all commercial and financial opportunities. The end of 2024 will
also be marked by the continued rollout of videowall and
42videobricks offerings, aimed at monetizing Alchimie's
technical assets. At the same time, the Company will continue to
implement new features to maintain its technological leadership and
provide its customers with an increasingly comprehensive and
intuitive solution.
Since September, we can highlight the launch of Maisonsdumonde+,
part of the Maisons du Monde Group's new loyalty program. This
latter offers top-tier customers a tailor-made experience,
combining proximity and emotion to enhance brand loyalty. Among the
initiatives introduced, the retailer has launched a streaming
platform offering over 50 hours of exclusive content, including
home decorating tutorials, committed documentaries, interior design
programs and collaborations with influential personalities in the
interior design sector.
Given the current outlook, with revenues from new activities
unable to offset the decline in revenues generated by the
historical subscriber base, the Company confirms its target of
achieving close to €8 million in revenues for 2024. Despite ongoing
efforts to optimize overhead costs, Alchimie does not expect to
generate positive EBITDA in 2024.
Alchimie publishes its 2024 half-year financial report today,
which is available on its website in the Documentation section:
www.alchimie-finance.com.
***
Next financial release: full-year 2024 revenue, on
January 30, 2025 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 42videobricks, the SaaS access to the technological
building blocks (via API) for operating 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 further information :
www.alchimie-finance.com / www.alchimie.com
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241023898938/en/
Alchimie Pauline Grimaldi d’Esdra CEO
investors@alchimie.com
NewCap Thomas Grojean/Aurélie Manavarere Investor
Relations alchimie@newcap.eu 01 44 71 94 94
NewCap Nicolas Merigeau Media Relations
alchimie@newcap.eu 01 44 71 94 98
Alchimie (EU:ALCHI)
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