CLIQ Digital - Steady progress and share buyback announced
CLIQ Digital showed robust revenue and profit growth in FY23 despite a more challenging backdrop. Revenue was below management guidance and Edison estimates, but profits were in line. Margins dipped only slightly despite higher advertising bidding prices, ie customer acquisition costs. Management announced a share buyback programme of up to €13m in place of a dividend to generate returns for shareholders and also for tax efficiency reasons. We have adjusted out FY24 forecasts to reflect management’s updated guidance and introduce our FY25 forecasts.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
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