Verve Group SE Reports Strong HY1 2024 Results with Upward Revised Forecasts

Verve Group SE has shown substantial growth in the first half of 2024, driven by strong organic expansion and cost optimization. The ad-tech platform's digital revenue surged 23.5% year-on-year, reaching €179.04 million. This rise is attributed primarily to a 28.1% revenue increase in its Supply Side Platform business unit.

EBITDA saw a 29.0% jump to €48.27 million, propelled by economies of scale and cost savings. Adjusted EBITDA also increased 26.5% to €51.10 million. Net earnings rose to €6.86 million from €2.57 million the previous year.

In Q2 alone, Verve's sales grew 26.8% year-on-year, largely due to strong customer demand for privacy-focused targeting solutions and AI innovations. The company’s market share further expanded, particularly through AI-based solutions like ATOM 3.0.

Given the robust performance, Verve revised its annual sales guidance to range between €400.0 million and €420.0 million. Adjusted EBITDA is projected between €125.0 million and €135.0 million. The company's leverage ratio improved to 2.8x, with further reductions anticipated.

GBC AG has thus adjusted its sales and earnings forecasts upwards, setting a new target price of €6.60 per share. Verve’s technological advancements and strategic acquisitions are expected to sustain its dynamic growth trajectory.