The Social Chain AG
- WKN: A1YC99
- ISIN: DE000A1YC996
- Land: Deutschland
Nachricht vom 06.09.2021 | 08:45
The Social Chain AG: First half-year results 2021: Social Chain AG increases revenue by 131 percent
DGAP-News: The Social Chain AG
/ Key word(s): Half Year Report/Development of Sales
First half-year results 2021:
Berlin, 6 September 2021. The results for the first half of 2021 confirm the ambitious growth strategy of Social Chain AG (WKN: A1YC99). The Social Commerce company grew by 131 percent compared to the same period of the previous year. Group revenue rose to USD 190.1 million (H1 2020: USD 97.6 million). Revenue growth in the core business of Social Commerce was particularly strong. Here, Social Chain AG reported an increase in revenue of 157 percent to USD 168 million (USD 65.3 million). Despite growing fast, increased acquisition costs, a strategic portfolio adjustment and the switch to the IFRS accounting standard, the company achieved a breakeven EBITDA of USD -0.6 million (adjusted; H1 2020: USD -1.3 million) as planned. These figures are part of Social Chain AG's first half-year report on an IFRS basis, which was reviewed by an auditor. They are therefore only partially comparable with previous HGB and proforma consolidated reports. For the full year, Social Chain AG also expects positive EBITDA on an IFRS basis. Revenue target for 2021, which was recently raised to USD 416 million, is also confirmed.
One example of this is the acquisition of the tech lifestyle brand Vonmählen in the first half of 2021. Vonmählen designs, produces and markets high-quality tech accessories that are specifically tailored to the needs of the digital world. Vonmählen has been generating a major part of its revenue to date in the B2B business. With Social Chain AG's investment, Vonmählen will primarily continue to expand its B2C business, focusing on direct sales to end customers. Oberhof: "Consumer electronics, as produced by Vonmählen, are ideal products for Social Commerce. Electronics and telecommunications are already one of the top-selling product categories in e-commerce. Vonmählen's lifestyle products are ideally suited to be publicised, distributed and sold via social media.
The Social Media business reported revenue growth of 31 percent to USD 22.1 million in the first half of the year (H1 2020: USD 16.9 million). The social media agency business made a significant contribution reporting a 68 percent jump in growth to USD 18.5 million (H1 2020: USD 11.0 million). The event-related business areas Conventions and Production on the other hand, remained below their previous year's revenue due to Corona.
Social Chain AG's primary strategic focus on Social Commerce and Direct-to-Consumer Brands was also reflected in the realignment of the agency business in the US in the first half of the year. In June, Social Chain acquired 25 percent of mint marketing agency LLC, based in Los Angeles, including a call option on a further 26 percent for the acquisition of the majority. mint specializes in digital performance marketing for new consumer markets (B2C) and customer relations marketing. As part of the strategic shift, the stake in the A4D agency, which is focused on performance marketing, is designated for disposal. In addition to the switch to IFRS, this portfolio adjustment is the main reason for differences in the half-year figures now reported compared to previous HGB and proforma consolidated presentations. A4D is not part of the consolidation, comparing the first half of 2021 and 2020.
A detailed report on the first half of 2021 of the Social Chain AG can be found under www.socialchain.com in the Investor Relations section.
The content of this press release is for information purposes only and does not constitute investment advice or other recommendations pursuant to the German Securities Trading Act by The Social Chain AG or its affiliated companies. The information provided cannot replace investment advice. The information contained in this press release is not to be construed as an assurance of possible price developments and should not be construed as a request to enter into a transaction. The information contained herein does not constitute an offer to sell or the solicitation of an offer to sell securities or rights, or a solicitation to trade in securities or rights. Accordingly, The Social Chain AG and its affiliates make no representations or commitments as to the accuracy, completeness or correctness of the information or opinions contained herein. We assume no liability for direct or indirect damages caused by and/or in connection with the distribution and/or use of this document. The statements correspond to the status at the time of the preparation of this document. They may become obsolete due to future developments without the document being changed.
Jana Walker | Press
|Company:||The Social Chain AG|
|Phone:||+49 (0)30 208484010|
|Listed:||Regulated Unofficial Market in Dusseldorf (Primärmarkt)|
|EQS News ID:||1231265|
|End of News||DGAP News Service|
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