YOC AG with a significant increase in revenues of 30% in the first half of 2023
- Revenue growth of 40% in the second quarter of 2023
- Integration of Nostemedia Oy progressing according to plan
- Default of receivables due to insolvency of American purchasing platform MediaMath Inc. burdens EBITDA with EUR 0.4 million
Berlin, 16 August 2023 – Ad tech company YOC AG (Frankfurt, Prime Standard, ISIN: DE 0005932735) reported revenue growth at a group level of 30% year-on-year to EUR 12.6 million in the first six months of the financial year 2023 (H1/2022: EUR 9.7 million). Organic growth adjusted for the acquisition of Helsinki-based Nostemedia Oy amounted to 23% in the first half of 2023.
During the acquisition and further internationalization, the number of employees increased, especially in the sales and platform development business units. In the reporting period, personnel expenses thus rose to EUR 3.6 million (H1/2022: EUR 2.6 million). The insolvency of the US demand-side platform MediaMath Inc. in June 2023 resulted in a complete default of receivables, which impacted the operating profitability of YOC Group by a total of EUR 0.4 million.
As a result, operating earnings before interest, taxes, depreciation, and amortization (EBITDA)* amounted to EUR 0.6 million in the first half of 2023 (H1/2022: EUR 1.2 million). Consolidated profit for the period amounted to EUR -0.2 million (H1/2022: EUR 0.5 million).
YOC AG’s revenue and earnings for the first half of 2023 are in line with the full-year forecast for 2023.
Sebastian Bauermann, CFO of YOC AG: «In the second half of 2023, the strong revenue momentum will continue due to the increasing trading volume on our VIS.X® platform. In parallel, profitability will increase even disproportionately compared to the first half of the year.»
* EBITDA corresponds to the definition in YOC AG’s annual report for the financial year 2021 (available at: https://yoc.com/de/investor-relations-yoc/finanzen-geschaeftsbericht/)
YOC is a technology company that develops software for the digital advertising market. With the help of our programmatic commerce platform VIS.X® we enable an optimal advertising experience for advertisers, publishers, and users of the internet and apps. Advertisers get the opportunity to increase their brand awareness in combination with premium advertising inventory by using VIS.X® and YOC’s attention-grabbing advertising formats. Renowned premium publishers offer global media reach and benefit from the high monetization of our VIS.X® platform. As a pioneer of mobile advertising, the company has been on the market since 2001 and has been listed in the Prime Standard of the Frankfurt Stock Exchange since 2009.