Netgem: expected growth of around 10% in 2024

(CercleFinance.com) - Netgem said on Wednesday that it expects recurring revenues to grow by around 10% in 2024, a development that should be accompanied by an improvement in profitability.


The specialist in audiovisual technologies explains that its growth should be driven by the acquisition of new customers thanks to new products launched in 2023, notably in the fields of cloud-based video games and "fast channels", free-to-air streaming TV channels financed by advertising.

The group, which offers its services to telecom operators and media groups, also plans to attract new customers via its Eclair brand entities, which offer services to content publishers.

With the continued simplification of its organization, the company says it anticipates a significant reduction in overheads this year, which should enable it to improve both its profitability indicators and cash flow generation.

In fiscal 2023, recurring sales amounted to 22.3 million euros, up 55% on the previous year, with gross margin up seven points from 55% to 62%.

Following this publication, Netgem shares gained around 1% on Wednesday on the Paris Bourse. The share price has gained more than 10% over the last three months.

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