Execus (EXEC) H1 2023 earnings summary

Executive summary

• H1 2023 revenue €1.215m, EBITDA €489k (39.8% of production value) and net income €257k; cash-net financial position €1.415m at June 30.

• LinkedIn Top Page remained the core offering at 84.6% of sales; direct-sales capacity expanded to 12 agents and introducers by June-end.

Financial highlights

• Revenue €1.215m and production value €1.228m; other income of €13k mainly comprised operating grants.

• EBITDA €489k; EBIT €364k; pre-tax profit €359k; net income €257k after €102k income taxes.

• Operating costs included services €521k, personnel €170k, depreciation and amortization €125k, and rent €36k.

• Revenue breakdown: LinkedIn Top Page €1.027m, e-learning €143k, Live Training €33k, and other €12k.

Outlook and guidance

• Management cited EBITDA margin near 40% and expected the expanded direct-sales network and e-learning sales to support continued development.

• IPO completion was expected to improve international visibility and support potential complementary acquisitions; potential target companies were being evaluated.

• Execus CRM, developed in 2022 with more than 35 functions, was scheduled for commercial launch in 2023.