Report
Jerôme Bodin

Believe : 2022 results in line with our expectations and slight downward revision to our expectations in 2023

>Neutral recommendation reiterated - Yesterday evening, Believe reported its full year 2022 results, which were in line with our expectations, with EBITDA of € 34.7m vs our estimate of € 35.5m. Q4 organic growth was slightly below our expectations, reflecting the tougher market conditions in digital advertising. This was offset by efficient cost management. For 2023, the group expects a sequential slowdown to +18% organic growth, which is not a surprise. Our expectati...
Underlying
BELIEVE SA

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Jerôme Bodin

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