(20/10/2020)
NETGEM 3rd quarter 2020 activity:
NETGEM's activity in the third quarter of 2020 was marked by a continuation of
the commercial dynamics of the “as a service” model of its activity with
operators (in B2B and B2B2C) or with its direct customers (B2C), who represent
this quarter more than 90% of the activity. The highlights are:
- A growth in net income that is confirmed every quarter and more marked from one year to the next due to the integration of Vitis,
- The continued growth of the subscriber base in Finland with Elisa, by Great Britain with the various Very Broadband operators and in France including the integration of Comcable.
- The launch in early October of the new range of MESH products in France with VIDEOFUTUR customers.
In the 3rd quarter of 2020, despite an 11% drop in turnover stemming from the foreseeable decrease in Box's historical sales activities, the net income is up 2% from the previous quarter. This reflects the now predominant share of management services activities customer base in the Group's business. Consolidation of French activities (Vitis) contributes € 4.0m out of the total € 6.4m of Net Income, and thus enables to show 100% growth.
The group's gross cash flow amounted to € 8.0 million at the end of September. A line of credit of € 1.6 million was collected in early October in anticipation of future refunds under the research tax credit.
Financial communication calendar
- Q4 2020 turnover and net income: January 22, 2021, before market
- Euronext Growth Paris - admission des titres de la Société aux négociations sur le marché (réserve de l'accord d'Euronext): janvier 2021
- 2020 results: March 19, 2021, before market
- Q1 2021 turnover and net income: April 21, 2021, before market
Sources:
Fr : https://www.netgem.com/medias/document/other/1507/2020-10-21-pr-q3-2020-netgem-fr-def.pdf
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Interesting Q3 note from Sweden:
