Edison Investment Research - CLIQ Digital (CLIQ) CLIQ Digital - Streaming ahead

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Edison Investment Research

Richard Williamson

CLIQ Digital - Streaming ahead

CLIQ Digital demonstrated another year of strong revenue growth, driven by elevated levels of marketing expenditure in the year. Margins fell slightly year-on-year due to higher advertising prices and investment into platform development and licensed content to support the group’s growing customer base. The substantial uplift in the scale of the business and the strong balance sheet support the 63% increase in the proposed dividend for the year, with the shares offering a premium yield of 6.6% at the current price. We have adjusted our FY23 forecasts to reflect management’s updated guidance and introduce our FY24 forecasts, and highlight our expectations for CLIQ to continue the positive momentum.

27/02/2023 1 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 - Streaming ahead

Cliq Digital Ag: 1 director

CLIQ Digital - Expanding the multi-content offering

CLIQ Digital - Diversifying marketing channels

Manx Financial Group - Termination of coverage

musicMagpie - Termination of coverage

Topps Tiles - Accelerating growth through Q125

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