![]() We increased revenues by 13% with growth in all segments and geographies, while cutting losses in the core business by €18m and setting a clear path to profitability.” Despite very challenging market conditions in 2022, we were able to secure enough funds to fully execute our plan. Joining Deezer, I had four clear goals secure funding, increase differentiation, achieve double digit growth and reach profitability. “I’m very proud of what we achieved in 2022 and I would like to thank the team for an outstanding execution of our strategy over the past 12 months. Jeronimo Folgueira, Chief Executive Officer of Deezer, said: Paris, February 28, 2023, 17:45 CET – Deezer (Euronext Paris: DEEZR ISIN: FR001400AYG6), the global music streaming service, published its consolidated results for the year ended 31 December, 2022, approved today by its Board of Directors. On a path to generate a positive cash flow in 2024 and achieve a positive adjusted EBITDA in 2025, while delivering double-digit annual revenue growth over the period A further significant reduction in adjusted EBITDA loss in 2023 compared to 2022.Double-digit revenue growth, in excess of 10% in 2023 compared to 2022.Strict management of cost base to keep staff and G&A expenses flat.Ramp-up of New Verticals to reach breakeven as of H2 and drive profitability improvement.Further acceleration of profitable B2B expansion on the back of recently announced partnerships such as Sonos (US), RTL (Germany) and DAZN (Italy). ![]() New feature development in the product to fuel differentiation and further monetization.2023 priorities to drive profitable growth.Strong balance sheet with cash position of €114 million at year-end 2022, allowing the group to execute on its business plan until breakeven.Adjusted EBITDA 2 at €(56) million in 2022 compared to €(65) million in 2021 A reduction of €18 million before additional investments of €9 million in New Verticals and Driift.Adjusted gross profit growth at +16% YoY to €98 million in 2022, driven by margin improvement (+0.7pt) in addition to revenue growth.Strong growth in revenue at +13% YoY to €451 million in 2022, with double-digit increase across every segment and every geography.Significant improvement of B2C economics and profitable B2B expansion.Successful execution of Deezer’s strategy in 2022.The global music streamer is successfully executing on its strategy and the 2022 full year results showcases clear path towards profitable growth
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