ad pepper media International N.V.: Revenue and EBITDA down on prior year

Nuremberg, Amsterdam, 21 April 2023

ad pepper Group, one of Europe’s leading performance marketing companies, recorded a 13.2 percent decline in revenue to EUR 5,099k in the first quarter of 2023 (Q1 2022: EUR 5,871k); EBITDA decreased to EUR -328k (Q1 2022: EUR 33k).

The ad pepper segment generated revenue of EUR 531k (-25.5 percent), while Webgains recorded a 12.5 percent decline in revenue to EUR 2,826k. At EUR 1,742k, the ad agents segment also reported a 9.6 percent lower revenue than in the first quarter of 2022.

Development of the segment EBITDAs was as follows: while ad pepper posted EUR 1k (Q1 2022: EUR 34k) and ad agents EUR -97k (Q1 2022: EUR 250k), thus remaining below the corresponding prior-year levels, Webgains generated an improved EBITDA compared to the previous year with EUR 189k (Q1 2022: EUR 133k).

The subdued start to the current financial year in the ad pepper and ad agents segments is primarily due to lower or postponed bookings on the part of our advertising partners. The Webgains segment, on the other hand, was able to cushion the restrained e-commerce sales in its UK home market by a reduction in personnel costs. We expect a slight improvement in the current quarter, but still see Group revenue below the prior-year level.

The report for the first quarter of 2023 will be published on 26 May 2023.

Key figures (unaudited) in EURk:

* Including securities at fair value.

For more information:

Dr Jens Körner (CEO)

ad pepper media International N.V.

+49 (0) 911 929057-0

ir@adpepper.com

1613425  21-Apr-2023 CET/CEST