VOGO: 139% growth in revenue in 2019 (+76% on like-for-like(1))
Proforma(2) revenue: EUR6.7m
VOGO (Code ISIN: FR0011532225 - Ticker: ALVGO) has announced its consolidated
revenue for FY 2019 (unaudited figures).
Over 2019, VOGO recorded a 139% surge in revenue to EUR1.8m. This solid
performance testifies to the excellent momentum generated by VOGO's historical
business scope, organic revenue growth having reached 76%. This fine showing
also reflects the contributions made over two months by VOKKERO(r), the
business acquired at end October 2019.
Organic growth of 76% in 2019: VOGO confirms ramp-up in video solutions
On a like-for-like basis (i.e. excluding VOKKERO(r), which was consolidated in
the accounts from November 1, 2019), VOGO's video business generated revenue
growth of 76% to EUR1,313k compared with EUR746k(3) in 2018.
This increase was driven by the sharp acceleration in championship-related
activity, as highlighted by the roll-out of the solution at the Johan Cruyff
Arena (Netherlands) and across several professional sports clubs in Europe
(football, rugby, ice hockey, etc.). Billings increased from EUR416k in 2018 to
EUR786k in 2019. It is worth noting that the level of recurrence in these
billings again reached 100% relative to the previous year. Meanwhile, VOGO
chalked up revenue of EUR393k in the major events segment. This activity
recorded growth of 145% relative to 2018, fuelled notably by international
business which accounted for 40% of revenue generated, and notably included the
U20 (Poland) and U17 (Brazil) Soccer World Cups, the Formula 1 Grand Prix
(Singapore), and the Final of the Davis Cup by Rakuten in tennis (Spain).
Finally, revenue generated via indirect channels remained stable in 2019, at
EUR107k. The ramp-up in this sales outlet will be a priority in 2020,
underpinned by established partnerships with major players worldwide and the
development of synergies with the distribution network brought by VOKKERO(r)
and already in position.
VOGO also confirms traction gained by VOKKERO(r) audio solutions for
Consolidated in the group's accounts from November 1, 2019, VOKKERO's(r) audio
business line contributed EUR473m to annual revenue in 2019. VOKKERO(r)
generated a total of EUR5,420k in revenue over the full year.
(1) Like-for-like revenue excludes contributions from VOKKERO(r) which was
consolidated into the Group's accounts from November 1, 2019. Note that VOGO
generated revenue of EUR746k in 2018.
(2) Proforma 2019 revenue includes the top-line contribution made by VOKKERO(r)
over 2019 as a whole, i.e.
(3) Between April 23, 2019 and September 17, 2019, the Company referred to
Revenue from Activities in its financial communications, this figure being
comprised of Revenue and the Proceeds of sale-leaseback, as recommended by its
Statutory Auditors. As of January 1, 2020, the Company will only be referring
to its Revenue in its financial communications.
The last few months of the year saw the company win several major client
references (UEFA Europa League for seasons 2020 and 2021, major rugby and
football clubs, such as Juventus Turin, the World Women's Handball
Championship, etc.) which will help drive growth as of 2020.
A new combine with proforma revenue of nearly EUR7m
Including VOKKERO(r) over the full year, VOGO generated revenue of EUR6.7m in
2019. 2020 will therefore see VOGO take on new dimensions. The integration of
VOKKERO(r)'s teams and products will give the Group a fresh boost in the
professional sports sector worldwide. In addition, the complementary nature of
the companies' offerings opens up promising prospects in the industry and
services sectors, in which VOKKERO(r) is already a recognised name and has a
solid commercial footing.
In the second half of last year, VOGO extended its reach in the North American
market via its New York-based subsidiary VOGO NORTH AMERICA. In recent months,
VOGO SPORT's video solution has been tested during matches held by the main
professional and university sports leagues. With efforts underway to strengthen
teams in this strategic zone shortly, the Group will be ideally placed to gain
from the sizeable growth harboured in this market.
In addition to these synergies, the Group will be launching a new technology
solution in 2020, combining video and audio, which will further bolster its
potential to win new business.
Strategy plan to be presented on March 31, 2020
In light of these extremely favourable prospects, both in France and abroad,
VOGO will be presenting its new strategy plan and ambitions to the market at
the annual earnings presentation scheduled for March 31st.
- END -
VOGO develops, markets and distributes live & replay, audio and video solutions
for spectators and professionals in sports arenas. VOGO's disruptive solution
for spectators transforms the stadium experience by providing multi- camera
content on demand for viewing on tablets and smartphones, irrespective of the
number of people connected. In the professional sphere, VOGO's video solution
provides analytical and decision-making tools (referee assistance, medical
diagnostics, coaching, etc.). The acquisition of Vokkero(r) in October 2019
enriched this range of professional solutions, with the integration of an
internationally recognised line of audio communications systems. All of the
Group's technologies have patent protection. They have already been implemented
across more than 20 different sport disciplines. VOGO is present in France
(Montpellier and Crolles) and in North America, with an office in New York. The
Group has been listed on the Euronext Growth Paris stock market since November
2018 (ISIN code: FR0011532225 - ALVGO).