Believe SA

BLV

Equity

ISIN FR0014003FE9 / Valor 111905288

Euronext - Euronext Paris (2024-12-24)

EUR 14.10-1.40%

Believe SA
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About company

Believe SA operates as a global music technology company that provides a comprehensive suite of services aimed at independent musicians and labels seeking to navigate the complexities of the music industry. Through its subsidiary, TuneCore, Believe offers a do-it-yourself platform that enables artists to distribute their music to over 150 digital stores and streaming partners worldwide. Unlike traditional music distribution models, TuneCore champions a unique approach by allowing artists to retain 100% of their earnings for a nominal annual fee. Beyond distribution, Believe extends its services to include publishing administration and a variety of promotional tools designed to help artists and labels build, engage, and monetize their audience across streaming, video, and social media platforms. The company leverages cutting-edge technology and maintains strong relationships with a network of key industry players, including digital streaming services and social media platforms, to support the career growth of independent musicians. Through its content distribution and marketing platform, Believe L&AS, the company offers tailored artist development services, underscoring its commitment to empowering artists in the digital age.

Summarized from source with an LLMView SourceSector: Consumer Services

Revenue Growth

Believe SA reported a revenue of €880.3 million for FY'23, marking a 15.7% increase at the current rate. The company achieved an organic growth of 14.4%, reflecting a growth rate recovery in Q4'23 as anticipated.

Adjusted EBITDA

For FY'23, Believe SA saw a significant increase in Adjusted EBITDA, reaching €50.3 million. This represents a margin of 5.7%, up by 110 basis points year-over-year, indicating strong profitability improvement.

Free Cash Flow

Believe SA's free cash flow was slightly negative at €3.1 million for FY'23. However, the company generated positive free cash flow in the second half of the year, partially offsetting the negative flow from the first half.

Net Cash Position

At the end of December 2023, Believe SA had a net cash position of €214.2 million. This strong cash position provides the company with solid firepower for advances and acquisitions.

2024 Outlook

Looking ahead to FY'24, Believe SA anticipates organic growth of approximately 18% and adjusted organic growth of around 20%, considering limited currency headwinds. The company also expects further progress in its Adjusted EBITDA margin, targeting around 6.5%.

Summarized from source with an LLMView Source

Key figures

30.8%1Y

-14.9%3Y

%5Y

Performance

39.2%1Y

42.3%3Y

41.1%5Y

Volatility