In This Article:
CLIQ Digital Reports Preliminary 2024 Results
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4Q sales declined q/q by 11% to €48m (-26% y/y)
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Total customer acquisition costs in 4Q improved by 15% q/q (-45% y/y)
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€21m EBITDA before special items realised in FY (€10m reported EBITDA)
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€12m net cash position per year-end vs. €16m at end of 2023
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Share buyback programme successfully completed
DÜSSELDORF, 30 January 2025 – The CLIQ Group announces today its preliminary and unaudited 2024 headline financial results. On 20 February 2025, the audited 2024 Annual Report will be published on the company’s website at https://cliqdigital.com/investors/financialreporting and presented by Management during an earnings call.
Performance
| in millions of € | 4Q | 3Q | Δ |
| FY | FY | Δ |
| Sales | 48 | 54 | -11% |
| 243 | 326 | -26% |
| Expected average LTV (in €) | 70 | 72 | -2% |
| 77 | 85 | -10% |
| Total CAC1 | -11 | -10 | 15% |
| -75 | -135 | -45% |
| EBITDA (before special items) | 5 | 6 | -15% |
| 21 | 50 | -57% |
| EBITDA margin2 | 10% | 11% |
|
| 9% | 15% |
|
| Operating free cash flow | 4 | 3 | 39% |
| 3 | 19 | -82% |
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Sales: In 4Q 2024, Group sales declined by 11% quarter-on-quarter to €48 million (3Q 2024: €54 million) mainly due to less customers. The expected average lifetime value (LTV) decreased quarter-on-quarter from €72 to €70 due to the higher churn rates resulting from new customer care tools in place at the card scheme companies, which consequently resulted in shorter average customer loyalty durations. However, the quarter-on-quarter Group sales decrease decelerated notably from -21% in 3Q 2024 to -11% in the fourth quarter.
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Customer acquisition costs: The Group’s decision to strategically increase its focus on profitability was attributable for the lowering of the cost per acquisition (CPA).
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EBITDA: Quarter-on-quarter, EBITDA before special items in 4Q 2024 decreased by 15% to €5 million (3Q 2024: €6 million) and the corresponding EBITDA margin was marginally lower at 10% (3Q 2024: 11%) predominantly as a result of the lower sales development and despite reduced cost of sales and operating expenses. €2 million special items related mostly to costs incurred from the “Fit For Future” transformation programme to restructure and optimise the Group’s operational structures. Reported EBITDA was stable at €3 million (3Q 2024: €3 million) and the EBITDA margin came in at 6% (3Q 2024: 5%).
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Liquidity: Quarter-on-quarter, CLIQ increased its operating free cash flow by €1 million to €4 million in 4Q 2024 (3Q 2024: €3 million). In the full year 2024, the operating free cash flow decreased by €16 million to €3 million (2023: €19 million). The net cash position at the year-end close was €12 million (31/12/2023: €16 million) after buying back shares for €5.5 million and distributing €0.3 million in dividends in April 2024.