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CLIQ Digital (SCALE: CLIQ)

Last close As at 01/05/2024

EUR15.68

— 0.00 (0.00%)

Market capitalisation

EUR103m

CLIQ Digital is a leading online performance marketing company selling subscription-based streaming services that bundle movies & series, music, audiobooks, sports and games globally. In FY23, 33% of sales were generated in Europe, 60% in North America, 4% in Latin America and 2% in other regions.

Demand for mobile entertainment has grown rapidly over the last decade, boosted by increased smartphone penetration, now at 84% of global mobile users (Statista). While boundaries between types of content are becoming increasingly blurred, mobile gaming is the largest segment. In H223 larger content subscription services saw a return to subscriber base growth despite increased subscription prices and more limited password sharing.

Latest Insights

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TMT | Update

CLIQ Digital — Steady progress and share buyback announced

TMT | Flash note

CLIQ Digital — More profitable customers in FY23

TMT | edison tv

CLIQ Digital: executive interview

TMT | Update

CLIQ Digital — Diversifying marketing channels
Hello - cliq
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Sector

TMT

Equity Analyst

Milo Bussell

Associate Analyst, Consumer and Media

Fiona Orford-Williams

Fiona Orford-Williams

Director, TMT

Key Management

  • Ben Bos

    Board member

  • Sebastian McCoskrie

    Head of IR

Balance Sheet

Forecast net cash (€m)

35.1

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (1.5) (19.3) (38.0)
Relative 1.6 (23.9) (45.0)
52 week high/low €28.2/€13.5

Financials

CLIQ Digital showed robust revenue and profit growth in FY23 despite a more challenging backdrop. Revenue was below management guidance and Edison estimates, but profits were in line. Margins dipped only slightly despite higher advertising bidding prices (ie customer acquisition costs). Management announced a share buyback programme of up to €13m in place of a full year dividend to generate returns for shareholders and also for tax efficiency reasons. Following the AGM in early April, CLIQ paid out a small dividend of €0.04 per share on 15 April.

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (fd) (c) P/E (x) P/CF (x)
2022A 276.1 43.5 40.9 445.38 3.5 2.3
2023A 326.4 50.3 45.0 483.96 3.2 1.9
2024E 375.3 56.0 51.6 543.79 2.9 1.8
2025E 439.1 65.5 59.7 628.13 2.5 1.6

Update

TMT

CLIQ Digital — Momentum continuing unabated

Update

TMT

CLIQ Digital — Delivering growth and profitability

Update

TMT

CLIQ Digital — Delivering growth and profitability

Update

TMT

CLIQ Digital — CLIQing the nail on the head

Update

TMT

CLIQ Digital — Entering its next growth phase

QuickView

TMT

CLIQ Digital — Capturing the market opportunity

edison tv

TMT

CLIQ Digital – executive interview

Flash note

TMT

CLIQ Digital — Guidance raised with growth momentum

Update

TMT

CLIQ Digital — Set to reach strong growth targets in FY21

Update

TMT

CLIQ Digital — Cliq here for entertainment

Update

TMT

Cliq Digital — Moving the dial on marketing effectiveness

Update

TMT

Cliq Digital — Strong sales momentum, especially in the US

Update

TMT

Cliq Digital — Direct media buying paying off

edison tv

TMT

Executive interview – CLIQ Digital at EKF 2019

Update

TMT

CLIQ Digital — Improving profitability

Update

TMT

CLIQ Digital — Increased marketing to drive revenue growth

QuickView

TMT

Cliq Digital — Muted H1, marketing spend to drive H2 uptick

QuickView

TMT

Cliq Digital — Muted H1, marketing spend to drive H2 uptick

Update

TMT

Cliq Digital — Muted H1, marketing spend to drive H2 uptick

Update

TMT

Cliq Digital — Higher marketing spend key to growth

Update

TMT

Cliq Digital — UME adds to strong organic growth

Initiation

TMT

Cliq Digital — Digital content marketing