Significant rise in Revenue over 6-month period: +21%
Olivier Novasque, Founder and CEO of Sidetrade, states:
“This excellent first half-year revenue is the direct result of the impact of the investments we’ve made and is clear evidence of how well-placed is the Group’s strategic positioning within Artificial Intelligence. C-Radar is the third acquisition we’ve made in less than six months, giving us a strong technological head-start in our goal to position Sidetrade as a unique market player in the use of Artificial Intelligence dedicated to customer relationship. In the very near future, the best-performing companies will employ AI on a daily basis to boost sales and accelerate cash-flow generation. We’ll soon democratize the use of AI for all Marketing, Sales and Finance departments.”
The Board is confident of its ability to achieve further growth across 2017.
| SIDETRADE GROUP REVENUE* (MILLION EUROS) |
2017 | 2016 | VARIATION |
|---|---|---|---|
| Q1 REVENUE | 5.2 | 4.3 | + 21% |
| Q2 REVENUE | 5.6 | 4.7 | + 20% |
| H1 REVENUE | 10.8 | 8.9 | + 21% |
In line with the significant growth seen across recent quarters, Sidetrade Group has achieved a dynamic second quarter 2017, with an 8% sequential growth on first-quarter results.
Across the first six months of 2017, Sidetrade Group recorded consolidated revenue of €10.8m, a 21% increase on the same period in 2016. It represents the highest first half-year figures ever recorded by the Group and a record first-half turnover in excess of €10m.
The turnover period witnessed the addition of prestigious new accounts to the supplier and subscriber base, among them KPMG UK, STEF group-wide, House of HR (Germany, Belgium, France, the Netherlands, Poland, Portugal, Romania, Switzerland), GEFCO across 15 further countries, Cegos France, Akka Technologies, Moreton Smith (UK), Schratter Foods (US), Inchcape Plc, Geodis (Slovakia, Czech Republic), Deloitte Belgium and Selco Business Warehouse…
“We’ll soon democratize the use of AI […]”
In June 2017, Sidetrade Group announced the final acquisition of C-Radar, the French specialist start-up in B2B Predictive Marketing. By exploiting algorithm-driven analysis of 23 million company data signals daily, C-Radar allows Marketing and Sales Departments to better understand their markets and identify relevant leads. The acquisition came a few months in the wake of Sidetrade’s acquisition of BrightTarget and Iko System, two specialist start-ups in Sales and Predictive Marketing, further strengthening Sidetrade’s positioning within Artificial Intelligence for the client-sales cycle.
Sidetrade (Euronext Growth: ALBFR.PA), dedicated Artificial Intelligence customer engagement platform, announces their semi-annual liquidity contract report.
Under the liquidity contract entrusted to Gilbert Dupont, brokerage firm, by the Sidetrade Group, the assets shown in the liquidity account at June 30, 2017 were:
- Number of shares: 3,065
- Cash balance of the liquidity account: 195,227.8 €
It should be noted that, in the annual balance sheet of 31 December 2016 (see press release of 17 January 2017), the assets shown in the liquidity account were:
- Number of shares: 3,415
- Cash balance of the liquidity account: 204,433.48 €
Highly-accelerated revenue growth: +21%
| REVENUE* (IN € MILLIONS) SIDETRADE GROUP |
2017 | 2016 | VARIATION |
|---|---|---|---|
| Q1 REVENUE | 5.2 | 4.3 | +21% |
For the first time in its history, Sidetrade has surpassed the €5 million mark in quarterly revenue.
During the first quarter of 2017, Sidetrade Group’s consolidated revenue showed a 21% growth compared to the first quarter of 2016, which had already grown by 14%.
This accelerated growth was made possible by continued investment in sales and marketing coupled with the launch of the predictive software Sidetrade Payment Intelligence (SPi).
This momentum is all the more encouraging, as it currently receives marginal contributions from the BrightTarget and Iko System solutions, which are in the business integration phase at Sidetrade Group.
Prestigious new accounts in this quarter include KPMG UK, STEF for the entire group, House of HR (Germany, Belgium, France, The Netherlands, Poland, Portugal, Romania, Switzerland), Gefco across 15 new countries, and Cegos in France…
Olivier Novasque, SIDETRADE Founder and CEO, states:
“2017 has begun on an excellent footing. This first quarter’s performance is, first and foremost, a result of very good strategy execution. The work in strengthening our salesforce, accelerating global development and innovating with predictive solutions over the last three years has proven effective. Our priority now is to create the first Artificial Intelligence platform that covers the entire customer cycle. This is a unique offering that allows companies to develop sales and speed up their cash flow.”
Further year of strong growth recorded: 13% increase in revenue
Backlog growth at 31 December 2016: +24%
Strong growth in operating profit: +20%
Artificial Intelligence: a revolution for businesses
Olivier Novasque, CEO and Founder of Sidetrade, states:
“Technological progress isn’t linear; it’s exponential. The software industry has taken 15 years to reach the Cloud era. It’s going to need less than five to reach the far more disruptive era of Artificial Intelligence. Today, the burning issue for businesses is the intelligent use of data to enable faster, easier creation of added value. The most successful companies have already begun experimenting with Artificial Intelligence to move their businesses forward through short, task-driven projects. With our unique customer engagement platform, Sidetrade’s now able to put Artificial Intelligence at the heart of company customer relations to both increase sales and boost cash flow.”
| CONSOLIDATED FINANCIAL STATEMENTS* (MILLION EUROS) SIDETRADE GROUP |
2016 | 2015 | VARIATION (%) |
|---|---|---|---|
| REVENUES | 18.1 | 16.0 | + 13% |
| OPERATING PROFIT | 2.1 | 1.7 | + 20% |
| PRE-TAX INCOME | 2.0 | 1.7 | + 19% |
| NET-PROFIT | 1.8 | 1.6 | + 8% |
Across activity in 2016, Sidetrade Group achieved a turnover of €18.1 million, with wholly organic growth of 13% and robust international demand. This consistent and continuous performance, across successive quarters, reaffirms the success of its innovative product offering and demonstrates its ability to consolidate its position as market leader.
Backlog Growth at 31 December 2016: +24%
The year witnessed the addition of prestigious new accounts to the subscriber base, among them: NHS Property (UK), Deloitte (Belgium), Carrefour Property, Docapost (La Poste Group), Intersport, PageGroup (Germany, Austria, Spain, France, Italy, Switzerland), Saint Gobain Abrasifs (21 countries), Talend (Germany, US, France, UK), Univar (Greece, Italy, Turkey), Equiniti Group Plc, Hearst Magazines, Idex, Samworth Brothers Ltd, Strego, Securitas AB (Norway), Viséo, Renold US, Valor Hospitality…
Recurring revenue generated by SaaS resulting from these multi-year contracts ensures excellent visibility of medium-term income. Accordingly, the SaaS backlog at 31 December 2016 stood at €26 million, representing a 24% growth. This committed unrecognized income is not included in the Group income statement or balance sheet at end-2016.
Sharp rise in operating profit: +20%
Notwithstanding significant investments made both in France and the international arena, operating profit recorded strong growth, achieving €2.1m in 2016, against €1.7m in 2015: an increase of 20%.
Sidetrade pursued its strong investment growth strategy with the development of a Data Science Lab (€0.6m) and the strengthening of its Sales and Marketing teams (€0.8m).
As of 31 December 2016, the number of Group employees stood at 208 (versus 163 at 31 December 2015), of whom 40% are based abroad.
Net Income 2016 stands at €1.8m, up by 8%, following tax deductions of €0.24m, compared to €0.05m in 2015.
Notwithstanding acquisition of start-ups BrightTarget and Iko System at end 2016, Sidetrade Group maintains a solid financial structure, with debts held to €0.3m, cash flow recorded at €7.2m and 80,000 Treasury shares.
Artificial Intelligence, a revolution for businesses
The improvement in results seen in the last three years justify the relevance of the Target25 strategic plan, which aims to achieve 20-25% growth by end 2017. Target25 is now in its final year of implementation.
The Board of Directors is fully confident of its ability to deliver strong growth across 2017 activity.
In 2017, Sidetrade Group’s results will be underpinned by investments made in Sales and Marketing, Sidetrade Payment Intelligence (SPi) solution and the broadening of its offer across the entire customer cycle, following its acquisition of BrightTarget and Iko System.
A further year of double-digit growth: +13% revenue
Backlog growth at 31 December 2016: + 24%
Reinforcement within the Artificial Intelligence field with a unique positioning
Olivier Novasque, CEO and Founder of Sidetrade, states:
“For the first time, with the use of the Sidetrade Payment Intelligence solution, companies can avail themselves of a predictive payment score for their customers and can assess their performance margins using a data-driven approach. Already in use by almost all our clients, this Artificial Intelligence platform will enable us to accelerate our conquest of the market. This trend will be strongly reinforced across 2017 with the input of the BrightTarget and Iko System solutions, which will open up further growth opportunities for the Group. The synergy between the three offerings will allow us to democratize the use of Artificial Intelligence across the entire customer relationship cycle and to set Sidetrade apart as unique on the market.”
| CONSOLIDATED FINANCIAL STATEMENTS* SIDETRADE GROUP (MILLION EUROS) |
2016 | 2015 | VARIATION (%) |
|---|---|---|---|
| ANNUAL REVENUES | 18.1 | 16.0 | + 13% |
Across activity in 2016, Sidetrade Group achieved a turnover of €18.1 million, with wholly organic growth of 13% and robust international demand. This consistent and continuous performance, across successive quarters, reaffirms the success of its innovative product offering and demonstrates its ability to consolidate its position as market leader.
Sidetrade has recorded its eighth consecutive quarter of double-digit growth.
Backlog growth at 31 December 2016: +24%
The year witnessed the addition of prestigious new accounts to the subscriber base, among them: NHS Property (UK), Deloitte (Belgium), Carrefour Property, Docapost (La Poste Group), Intersport, PageGroup (Germany, Austria, Spain, France, Italy, Switzerland), Saint Gobain Abrasifs (21 countries), Talend (German, US, France, UK), Univar (Greece, Italy, Turkey), Equiniti Group Plc, Hearst Magazines, Idex, Samworth Brothers Ltd, Strego, Securitas AB (Norway), Viséo, Renold US, Valor Hospitality…
Recurring revenue generated by SaaS resulting from these multi-year contracts ensures excellent visibility of medium-term income. Accordingly, the SaaS backlog at 31 December 2016 stood at €26 million, representing a 24% growth. This committed unrecognized income is not included in the Group income statement or balance sheet at end-2016.
Reinforcement within the Artificial Intelligence field with a unique positioning
In line with the announced timetable, the predictive analytics customer behavior payment software platform, Sidetrade Payment Intelligence (SPi) solution, was successfully launched on 8 November 2016. Within two months, 95% of Sidetrade clients had begun deploying Sidetrade Payment Intelligence solution to improve their performance relating to payment delays, and anticipation of customer behavior, through a predictive payment score across 2.2 million companies.
2016 activity saw a strengthening of Sidetrade’s strategic position across the entire customer life cycle via the acquisition of start-ups BrightTarget and Iko System, both specialists in the field of Artificial Intelligence. Sidetrade has now moved beyond its original focus of client relation financial management to extend its offering across the entire Sales-to-Cash cycle to place Artificial Intelligence solutions at the disposition of companies’ Sales and Marketing departments.