Believe SA

BLV

Equity

ISIN FR0014003FE9 / Valor 111905288

Euronext - Euronext Paris (2025-08-05)

EUR 17.20%

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

In FY’23, Believe SA generated revenues of €880.3 million, a 15.7% increase compared to FY’22. The organic growth reached 14.4%, with a notable recovery in growth rate during Q4’23 as anticipated.

Profitability Improvement

Adjusted EBITDA improved significantly to €50.3 million, representing a margin of 5.7% and a year-over-year increase of 110 basis points, showcasing strong profitability improvements.

Cash Flow and Balance Sheet

The company achieved a free cash flow close to breakeven at €-3.1 million, with positive generation in the second half of 2023 offsetting the first half. Net cash at the end of December’23 stood at €214.2 million, providing ample resources for future investments and acquisitions.

2024 Outlook

For FY’24, Believe SA anticipates organic growth of approximately 18% and expects an adjusted organic growth of around 20%. The company plans to continue investing in development while pursuing efficiency gains, projecting a slightly positive free cash flow.

Summarized from source with an LLMView Source

Key figures

22.3%1Y

75.7%3Y

%5Y

Performance

21.2%1Y

35.7%3Y

38.7%5Y

Volatility