Invibes Advertising N : Half-year 2022 – Unaudited Consolidated financial statements


INVIBES ADVERTISING NV

REIGERSTRAAT 8,

9000 GHENT

BELGIUM

CONSOLIDATED FINANCIAL STATEMENTS

Interim accounts

From January 1st, 2022 to June 30th, 2022

INVIBES ADVERTISING NV Group

Consolidated accounts on June 30th, 2022

REPORT ON THE WORK PERFORMED

As agreed, we have conducted the preparation of the consolidated accounts of the INVIBES ADVERTISING NV GROUP for the period from 1 January 2021 to 31 December 2021.

These consolidated accounts, along with the additional notes, are attached to the present report on the work performed.

They were prepared using the accounts of the parent company and information provided by the services of the Group.

They are characterized as follows:

– Total of the consolidated balance sheet

38 586 062 €

Consolidated sales

13 264 806 €

Group equity

25 395 629 €

Consolidated net income

– 1 740 445 €

– Net income attributable to the parent company

– 1 699 096 €

Signéélectroniquementle29/09/2022par

Laval

Jean-FrancoisMerlet

Jean-François MERLET

Expert-comptable Diplômé

(Certified Public Accountant)

Page 2 / 44

RSM France

INVIBES ADVERTISING NV Group

Consolidated accounts on June 30th, 2022

Table of contents

Consolidated balance sheet………………………………………………………………………………………

5

Consolidated income statement………………………………………………………………………………..

7

Comprehensive income ……………………………………………………………………………………………

8

Statement of changes in equity …………………………………………………………………………………

9

Cash flow statement………………………………………………………………………………………………

10

1 GENERAL INFORMATION ………………………………………………………………………………….

12

1.1 General information, statement of compliance with IFRS and going concern assumption

12

1.2

New or revised standards or interpretations………………………………………………………………………………..

12

1.3

Restatement of accounts……………………………………………………………………………………………………………………..

13

1.4

Consequences of the Covid-19 pandemic……………………………………………………………………………………….

14

1.5

War in Ukraine ……………………………………………………………………………………………………………………………………….

14

1.6

Major operations……………………………………………………………………………………………………………………………………

14

2

SIGNIFICANT ACCOUNTING POLICIES………………………………………………………………….

15

2.1

Basis of preparation………………………………………………………………………………………………………………………………

15

2.2

Basis of consolidation…………………………………………………………………………………………………………………………..

15

2.3

Scope of the consolidation level ………………………………………………………………………………………………………..

15

2.4

Translation of the accounts and the operations denominated in a foreign currency ……….

17

2.5

Goodwill……………………………………………………………………………………………………………………………………………………

18

2.6

Other intangible assets…………………………………………………………………………………………………………………………

19

2.7

Property, plant and equipment………………………………………………………………………………………………………….

20

2.8

Right-of-use assets ………………………………………………………………………………………………………………………………..

20

2.9

Financial assets ………………………………………………………………………………………………………………………………………

21

2.10

Accounts receivable………………………………………………………………………………………………………………………………

21

2.11

Other current assets ……………………………………………………………………………………………………………………………..

21

2.12

Cash and cash equivalents…………………………………………………………………………………………………………………..

21

2.13

Equity, reserves and dividend payments ……………………………………………………………………………………….

21

2.14

Financial liabilities ………………………………………………………………………………………………………………………………..

22

2.15

Financial instruments…………………………………………………………………………………………………………………………..

22

2.16

Lease liabilities……………………………………………………………………………………………………………………………………….

22

2.17

Provisions ………………………………………………………………………………………………………………………………………………..

22

2.18

Trade payables……………………………………………………………………………………………………………………………………….

23

2.19

Other liabilities……………………………………………………………………………………………………………………………………….

23

2.20

Pension liabilities…………………………………………………………………………………………………………………………………..

23

2.21

Revenue…………………………………………………………………………………………………………………………………………………….

23

2.22

Finance cost other financial items…………………………………………………………………………………………………….

24

2.23

Taxes………………………………………………………………………………………………………………………………………………………….

24

2.24

Earnings per share ………………………………………………………………………………………………………………………………..

24

2.25

Determining accounting estimates and judgements…………………………………………………………………..

24

3 NOTES ON THE CONSOLIDATED FINANCIAL STATEMENTS

……………………………………..26

3.1

Operating segment information………………………………………………………………………………………………………..

26

3.2

Notes on the consolidated balance sheet ……………………………………………………………………………………….

27

3.3

Notes on consolidated income statement ………………………………………………………………………………………

39

Page 3 / 44

RSM France

INVIBES ADVERTISING NV Group

Consolidated accounts on June 30th, 2022

4

ADDITIONAL INFORMATION ……………………………………………………………………………..

41

4.1

Remuneration of the statutory auditor …………………………………………………………………………………………..

41

4.2

Off-balance sheet commitments………………………………………………………………………………………………………..

42

4.3

Related parties………………………………………………………………………………………………………………………………………..

42

4.4

Risk factors………………………………………………………………………………………………………………………………………………

43

4.5

Events after closing……………………………………………………………………………………………………………………………….

44

Page 4 / 44

RSM France

INVIBES ADVERTISING NV Group

Consolidated accounts on June 30th, 2022

Consolidated balance sheet

Note

30/06/2022

31/12/2021

NON-CURRENT ASSETS

Goodwill

3.2.1

2 104

2 100

Other intangible assets

3.2.2

3 464

2 729

Property, plant and equipment

3.2.3

324

260

Right-of-use assets

3.2.4

385

468

Long-term financial assets

3.2.5

790

760

Deferred tax assets

3.2.6

350

339

TOTAL NON-CURRENT ASSETS

7 416

6 654

CURRENT ASSETS

Trade receivables

3.2.7

7 454

8 613

Current tax assets

3.2.8

800

985

Other current assets

3.2.9

1 833

1 143

Cash and cash equivalents

3.2.10

21 083

10 093

TOTAL CURRENT ASSETS

31 170

20 835

TOTAL ASSETS

38 586

27 490

Page 5 / 44

RSM France

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Invibes Advertising NV published this content on 30 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 September 2022 12:43:07 UTC.

Publicnow 2022

All news about INVIBES ADVERTISING N.V.

Sales 2022 34,0 M
33,3 M
33,3 M
Net income 2022 -0,46 M
-0,45 M
-0,45 M
Net cash 2022 17,3 M
17,0 M
17,0 M
P/E ratio 2022 -81,2x
Yield 2022
Capitalization 44,3 M
43,5 M
43,5 M
EV / Sales 2022 0,79x
EV / Sales 2023 0,60x
Nbr of Employees 124
Free-Float 100%

Chart INVIBES ADVERTISING N.V.



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Invibes Advertising N.V. Technical Analysis Chart | MarketScreener

Technical analysis trends INVIBES ADVERTISING N.V.

Short Term Mid-Term Long Term
Trends Bearish Bearish Bearish




Income Statement Evolution

Sell

Buy

Mean consensus BUY
Number of Analysts 2
Last Close Price 10,15 €
Average target price 25,48 €
Spread / Average Target 151%