Squirrel Media’s net profit rises 20% in first half to $5.5M
Squirrel Media, the communication technology group, continues to gain strength in the audiovisual sector. In the first half of the year, the company posted a net profit of €5.56 million, an increase of 20% compared to the same period in 2021.
In these first six months, the group has obtained an EBITDA of 7.22 million euros, 37% more than in the first half of 2011, which represents a margin on net revenues of 19.5%. It also recorded EBIT of €5.82 million, 23% more than in the 2021 period, giving a margin on net revenues of 16%.
In this semester, specifically in June, the group managed to raise 10 million euros through a private placement of shares, equivalent to 3.65% of the capital.
Squirrel Media is hopeful about the economic outlook for the second half of the year. In fact, as DIRCOMFIDENTIAL reported last month, it expects 2022 to be the year of strongest growth in the 2022-2024 period, which covers its current business plan.
In the second half of the year, the group will begin distributing content internationally, in 33 countries, a fact that is not reflected in the results of the first six months and which it expects to have a positive impact in the second half of the year.
With the acquisition of BF Distribution this April and its catalogue, Squirrel Media consolidates its position in the generation and distribution of content in Spanish (Spain, Andorra and all Latin American countries), Portuguese (Brazil, Portugal and other territories) and Italian (Italy, Vatican City, San Marino, Switzerland…).
The president of Squirrel Media, Pablo Pereiro Lage, points out that “the results of the first half of the year show a clear positive trend in both organic and inorganic growth and confirm a rapid scalability and internationalisation of the Group, with relevant investments in all its business units. We continue to integrate value on a daily basis and this will necessarily lead us to consolidate our position as an important global player.
The Group, which expects to reach 40.3 million euros of net profit in two years, is currently made up of four interdependent business units: Advertising, which includes companies such as Best Option Media and Squirrel Global Media; Content, with companies such as Vértice Cine, BF Distribution, Tactic Audiovisual and DMD Media; Media, which includes NET TV, BOM Cine, BOM Channel, Nautical Channel, Horse TV, Class TV Moda and BOM Radio and TMT Services with M3 Satcom and Itesa.
