Avidly Plc publishes restated 2020 segment data in accordance with the company’s new reporting structure

Avidly Plc publishes restated 2020 segment data in accordance with the company’s new reporting structure

Avidly Plc        Company Announcement        23 April 2021 at  9.30  a.m.

Avidly Plc publishes restated, audited financial figures for the year 2020 concerning the new geographic reporting segments.

In connection with the company's strategy update, Avidly Plc's Board of Directors decided in December 2020 that Avidly will start reporting its business operations for the financial period beginning on 1 January 2021, divided into two geographical segments, which are Finland and International. At the same time, Avidly will cease reporting separate Marketing Services and Inbound Marketing segments. The changed reporting method corresponds to the company's updated strategy and positioning as a holistic martech service provider as well as the way of leading the business as one entity.

Avidly Plc publishes segment information twice a year in the half-year report and in the financial statements bulletin. In 2021, the company will also publish business reviews for the periods 1 January to 31 March 2021 and 1 January to 30 September 2021. In business reviews, the share of International revenue and gross profit will be disclosed.

Restated financial figures for the period 1 January – 30 June 2020

EUR 1,000	Finland	International	Group eliminations and unallocated	Avidly - Group Total
INCOME STATEMENT
Revenue	10,302	2,834	-173	12,963
Gross Profit	7,095	2,338	-107	9,326
Depreciation and amortization	-714	-220	0	-934
EBIT	-306	-68	-29	-403
Adjusted EBIT *	-254	-6	-29	-289
Financial income and expenses				-107
Profit before tax				-510
Income taxes				45
Profit for the period				-465

BALANCE SHEET

Assets	17,919	5,838	-779	22,978
Liabilities	11,231	3,482	-750	13,963

PERSONNEL

Personnel on average

180

52

-

232

Restated financial figures for the period 1 July – 31 December 2020

EUR 1,000	Finland	International	Group eliminations and unallocated	Avidly - Group Total
INCOME STATEMENT
Revenue	9,415	2,793	-201	12,007
Gross Profit	6,931	2,459	-67	9,323
Depreciation and amortization	-677	-174	0	-851
EBIT	474	14	-146	342
Adjusted EBIT *	527	76	23	626
Financial income and expenses				-232
Profit before tax				110
Income taxes				13
Profit for the period				123

BALANCE SHEET

Assets	18,909	6,348	-1,322	23,935
Liabilities	11,534	3,954	-1,345	14,143

PERSONNEL

Personnel on average

174

49

-

223

Restated financial figures for the period 1 January – 31 December 2020

EUR 1,000	Finland	International	Group eliminations and unallocated	Avidly - Group Total
INCOME STATEMENT
Revenue	19,717	5,627	-374	24,970
Gross Profit	14,025	4,797	-173	18,649
Depreciation and amortization	-1,391	-394	0	-1,785
EBIT	167	-53	-175	-61
Adjusted EBIT *	272	71	-6	337
Financial income and expenses				-339
Profit before tax				-400
Income taxes				58
Profit for the period				-342

BALANCE SHEET

Assets	18,909	6,348	-1,322	23,935
Liabilities	11,534	3,954	-1,345	14,143

PERSONNEL

Personnel on average

177

51

-

228

* Adjusted operating result = Operating result (EBIT) adjusted for acquisition costs and allocated depreciation of acquired businesses as well as expenses associated with the share-based incentive scheme pursuant to IFRS.

 

Additional information:

Hans Parvikoski, CFO, Tel. +358 40 586 6154

Oaklins Merasco Oy acts as Avidly Plc’s Certified Advisor, tel. +358 9 6129 670

Avidly is a leading martech service provider listed on the Nasdaq First North Growth marketplace in Helsinki. We offer holistic digital marketing and sales services and customer experience, data and technology are closely entwined into our impact-driven growth strategy. We are a team of more than 230 navigators and explorers, makers and shakers in 16 locations in Finland, Sweden, Norway, Denmark and Germany. Read more: investors.avidlyagency.com/en