The Board of Brightcom Group met on 30th May to take stock of the fourth quarter & year ended FY 2022-23 earnings of the company. The company reported a robust year, with consolidated revenues of Rs.7396.77crores and PAT of Rs.1370.99 crores for FY2022-23.
THE HIGHLIGHTS
· Consolidated revenues increased 47.36% YOY and PAT rose 50.30% YOY.
· The EBITDA also rose by 43.96% YOY.
· Company’s Return on Equity (ROE), on an annualized basis has reached nearly 19.58%. We would also like to highlight that this ROE is unleveraged, because the group has zero debt on standalone and consolidated basis. We continue to focus on improving this key ratio.
· In addition, we achieved operating free cash flow of approximately Rs. 436.76 crores.
The Main Drivers of Revenue were:
· Client relationship fostered over the years.
· Improved client satisfaction leading to new client acquisitions.
· Presence in new geographic locations, especially Europe.
· Digitalization is going up
· The AdTech Industry is growing
· Adding new products to get higher wallet share of new clients.
Additionally, during the year, we have added about:
· 260 Global Agency Relationships
· 15 New Advertising Agencies
· 630 Direct Advertisers
· 650+ large Publishers
· 50,000+ long-tail Publishers
· The above development in turn led to better eCPMs for Brightcom. B-Local Exchange and Brightcom Video player, both New Product Technology Introductions, have started contributing significantly to the overall business growth.
The above factors, combined with the overall Growth in ‘Digital advertising media’ and client focus by all our operating teams across the geographies helped deliver the robust growth.
Inorganic Growth: M&A and Strategic Alliances Strategy
· On the inorganic growth front, we have been working out the most effective structure to enable faster & ROE focused growth for our company.
· We are extremely focused on being highly capital efficient and are calibrating our inorganic growth strategy to get most bang for our buck.
· Appropriate announcements shall be made when inorganic transactions are considered or consummated.
UPDATE
· The team participated at the ‘d3con Advertisers day’ event in Hamburg.
· We also took part at the ‘AdMonsters OPS’ event in NYC in June 2022.
· In May 2022, Brightcom attended the ‘Advertising Week Europe – Creative Capital’ event.
· Our Business Development team was at the DIGIDAY Summit in Miami, Florida in September 2022.
· The team was also at Cologne, Germany to be at the event DMEXCO in September 2022.
· The Publishers’ Development team, attended the CES 2023 Event at Vegas in January 2023.
· Our Brightcom team attended MWC Barcelona 23 in February 2023.
· The team also attended the Digiday Publishing Summit in March 2023 in Vail, Colorado, USA.