Edison Investment Research - CLIQ Digital (CLIQ) Cliq Digital - Improving profitability

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Edison Investment Research

Richard Williamson

Cliq Digital - Improving profitability

CLIQ Digitalâ€™s half year report shows progress quarter-on-quarter, although gross revenues were 8% down on prior year. Margins are starting to improve after earlier cost cutting, and customer base value (CLIQâ€™s measure of expected future revenues) has edged ahead from the end FY18 level. Consumer appetite for digital entertainment remains very strong across product groups and the company needs to ensure that its content portfolio remains sufficiently attractive to bring in (and retain existing) subscribers. The market valuation is at a persistent discount to peers.

11/11/2019 7 EN

Underlying

CLIQ Digital

Cliq Digital AG. CLIQ Digital AG is a Germany-based company engaged in the software industry. The Company specializes in the provision of mobile entertainment with focus on games and other mobile value-added services. It divides its business into four product areas: Mobile Entertainment, providing realtones, wallpapers, celebrity gossip, weather updates, among others; Mobile Games offered following the premium model, as well as freemium service; Mobile Apps, covering various types of applications such as dating, discover, travel, sport, among others, and available for smartphone devices only; and Mobile Software for smartphones, comprising software applications, such as security products, document storage solutions, health apps and Voice Over Internet Protocol (VOIP) applications.

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DE000A0HHJR3 Germany

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Edison Investment Research

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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Analysts

Richard Williamson

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Cliq Digital - Improving profitability

Cliq Digital Ag: 1 director

CLIQ Digital - Expanding the multi-content offering

CLIQ Digital - Diversifying marketing channels

AGBA - A transformational deal

Biodexa Pharmaceuticals - In a period of transition

Norcros - Sale of Johnson Tiles UK agreed

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