Believe: organic growth set to accelerate

(CercleFinance.com) - Last night, Believe reported first-quarter sales of 230.
3 million euros, up 15.9%, including 12.5% organic growth.

Following this performance, deemed 'in line' with its expectations, the digital music specialist confirmed its outlook for 2024, anticipating an acceleration in organic growth in the coming quarters

With the recovery of the audio streaming market and the increase in subscription prices, the group says it is counting on organic growth of around 18% this year.

The label is also forecasting further improvement in its adjusted Ebitda margin, expected to be around 6.5% for the year.

For the record, Believe is currently the subject of a takeover bid filed by a group of investors and its CEO-founder at a price of 15 euros per share, a transaction recommended by the company's Board of Directors.

The share price was unchanged after this publication, remaining slightly below the offer price.

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