NetMedia Group posts strong recovery in profitability

NetMedia Group has published its half-year results as of June 30, 2024, marked by a return to profitability despite a 20% decline in revenue. Consolidated revenue amounts to €9.64 million, compared to €12 million in the same half of 2023. This decrease is mainly explained by the decrease in revenues from the Consulting and Media divisions, partially offset by 10% growth in the Activation division.

EBITDA went from -€1.95 million to -€0.03 million, while operating income reached breakeven. This clear improvement is the result of internal restructuring and cost optimization, reducing operating expenses by 48%. Net income, group share, amounted to -€0.86 million, a significant increase compared to -€2.59 million in the first half of 2023.

NetMedia Group also shows a healthy financial situation with equity up to €2.28 million and active cash of €2.25 million. The group plans to launch a capital increase to strengthen its cash flow in the coming months.