Brightcom Group (NSE: BCG | BSE: 532368), the AdTech and Digital Media major, has announced its audited financial results for the quarter ended 31st March, 2023 and the annual results for financial year 2022-23.
Hyderabad, May 31st, 2023: The Board of Brightcom Group met on 30th May to take stock of the fourth quarter & year ended FY 2022-23 earnings of the company. The company reported a robust year, with consolidated revenues of Rs.7396.77crores and PAT of Rs.1370.99 crores for FY2022-23.
THE HIGHLIGHTS
· Consolidated revenues increased 47.36% YOY and PAT rose 50.30% YOY.
· The EBITDA also rose by 43.96% YOY.
· Company’s Return on Equity (ROE), on an annualized basis has reached nearly 19.58%. We would also like to highlight that this ROE is unleveraged, because the group has zero debt on standalone and consolidated basis. We continue to focus on improving this key ratio.
· In addition, we achieved operating free cash flow of approximately Rs. 436.76 crores.
The Main Drivers of Revenue were:
· Client relationship fostered over the years.
· Improved client satisfaction leading to new client acquisitions.
· Presence in new geographic locations, especially Europe.
· Digitalization is going up
· The AdTech Industry is growing
· Adding new products to get higher wallet share of new clients.
Additionally, during the year, we have added about:
· 260 Global Agency Relationships
· 15 New Advertising Agencies
· 630 Direct Advertisers
· 650+ large Publishers
· 50,000+ long-tail Publishers
· The above development in turn led to better eCPMs for Brightcom. B-Local Exchange and Brightcom Video player, both New Product Technology Introductions, have started contributing significantly to the overall business growth.
The above factors, combined with the overall Growth in ‘Digital advertising media’ and client focus by all our operating teams across the geographies helped deliver the robust growth.
Inorganic Growth: M&A and Strategic Alliances Strategy
· On the inorganic growth front, we have been working out the most effective structure to enable faster & ROE focused growth for our company.
· We are extremely focused on being highly capital efficient and are calibrating our inorganic growth strategy to get most bang for our buck.
· Appropriate announcements shall be made when inorganic transactions are considered or consummated.
UPDATE
· The team participated at the ‘d3con Advertisers day’ event in Hamburg.
· We also took part at the ‘AdMonsters OPS’ event in NYC in June 2022.
· In May 2022, Brightcom attended the ‘Advertising Week Europe – Creative Capital’ event.
· Our Business Development team was at the DIGIDAY Summit in Miami, Florida in September 2022.
· The team was also at Cologne, Germany to be at the event DMEXCO in September 2022.
· The Publishers’ Development team, attended the CES 2023 Event at Vegas in January 2023.
· Our Brightcom team attended MWC Barcelona 23 in February 2023.
· The team also attended the Digiday Publishing Summit in March 2023 in Vail, Colorado, USA.
CONFERENCE CALL DETAILS
Brightcom Group will host a conference call on June 9th, 2023, Friday at 4.00PM Indian Standard Time to discuss the financial results. Call-in details will be available from the Investor Relations page of the company’s website at: http://brightcomgroup.com/investors/
MEDIA CONTACT: Rema Sujeeth rema@brightcomgroup.com
ABOUT BRIGHTCOM GROUP
Brightcom Group is a leading global provider of comprehensive online or digital marketing services to direct marketers, brand advertisers, and marketing agencies. The Company is divided into three major divisions: (i) Media (Ad-Tech and digital marketing), (ii) Software services, and (iii) Future technologies. The Company’s primary clients are end advertisers, agencies and publishers, but also include ad exchanges & networks.
Brightcom client list over the years contains some of the biggest names, i.e. Airtel, British Airways, Coca- Cola, Hyundai Motors, ICICI Bank, ITC, ING, Lenovo, LIC, Maruti Suzuki, MTV, PGG (NZ), Qatar Airways, Samsung, Viacom, Sony, Star India, Vodafone, Titan, and Unilever. Brightcom works with agencies like Havas Digital, JWT, Mediacom, Mindshare, Neo@Ogilvy, Ogilvy One, OMD, Saatchi & Saatchi, TBWA, and ZenithOptimedia, to name a few.
Brightcom Group’s global presence, including in the US, Israel, Latin America ME, Western Europe and Asia Pacific regions, positions us at the forefront of the digital landscape, enabling us to support partners in their efforts to leverage and benefit from current global trends.
For more information please visit www.brightcomgroup.com
DISCLAIMER
This press release contains “forward-looking statements” – that is, statements related to future, not past, events. In this context, forward- looking statements often address our expected future business and financial performance, and often contain words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “should” or “will.” Forward– looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and digital marketing industry, and fluctuations in exchange rates; from future integration of businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different from those expressed in our forward-looking statements. We do not undertake to update our forward- looking statements.
