In This Article:
REGULATED INFORMATION
Unifiedpost continues to report double-digit growth in its digital services business
La Hulpe, Belgium – November 14, 2024, 7:00 a.m. CET – [REGULATED INFORMATION] Unifiedpost Group SA (Euronext: UPG) (Unifiedpost), a leading provider of integrated business communications solutions, today announced its results for 9M 2024. Digital service revenue reported organic growth of 10,0% YoY in 9M 2024.
9M 2024 Highlights – Continuing operations1
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Reported 10% YoY organic2 growth in digital services revenue.
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In Q3 2024, we reported first contributions from interest income received on ‘client money’ deposits which is included in digital services revenue.
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Organic2 traditional communication services revenue decreased by 11,2% YoY, which is attributable to service digitalisation and reduced volume in management services.
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ARPU on subscriptions continued to steadily increase quarter-on-quarter (€ 5,9 at the end of Q3 2024).
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The closing of the divestment of 21 Grams and The Wholesale Identity Access business are on track, while the divestment of FitekIN/ONEA closed in July.
Key financial figures – Continuing operations1
| (EUR thousands) | 9M-2024 | 9M-2023 | 9M Change (%) |
| Group revenue2 | 72.926 | 72.383 | +0,7% |
| Digital services revenue2 | 44.920 | 40.844 | +10,0% |
| Recurring3 | 41.517 | 37.766 | +9,9% |
| Non-recurring | 3.403 | 3.078 | +10,6% |
| Traditional communication services revenue2 | 28.006 | 31.539 | -11,2% |
Business KPIs
| (# in thousands) | End Q3 2024 | End Q2 2024 | End Q1 2024 | End Q4 2023 | End Q3 2023 |
| Paying customers | 516 | 500 | 485 | 470 | 456 |
| Customers paid by 3rd parties | 787 | 775 | 760 | 714 | 707 |
| Other paying customers | 50 | 52 | 52 | 50 | 49 |
| Customers served | 1.353 | 1.327 | 1.297 | 1.234 | 1.212 |
| Of which Banqup customers | 178 | 174 | 168 | 162 | 156 |
| ARPU on subscriptions | € 5,9 | € 5,8 | € 5,6 | € 6,1 | € 6,1 |
Business update
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Unifiedpost is prepared to support businesses’ transition with the upcoming VAT in the Digital Age (ViDA) initiative. This proposal for a directive was approved by all 27 EU member states on November 5, 2024. The EU-wide proposed directive introduces standardised. Digital Reporting Requirements and mandates e-invoicing for cross-border B2B transactions within EU member states. Our Banqup platform is equipped to meet the ViDA compliance standards, with advanced technical capabilities and frameworks that facilitate full compliance. Unifiedpost’s e-invoicing solution enables a seamless transition to the digital VAT framework, empowering businesses to adapt efficiently and confidently to these new regulatory requirements.
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The French government has reaffirmed its commitment to launching mandatory e-invoicing by September 2026. Additionally, ECMA has announced plans to open its Public Platform for E-Billing (PPF) to France’s 4 million auto-entrepreneurs. Unifiedpost fully supports these developments, as the French e-invoicing model is expected to drive significant business growth.
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Unifiedpost’s new revenue stream, derived from client funds, generated € 0,3 million in Q3 2024, with client money totalling € 54,4 million.
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The divestment of the Wholesale Identity business in the Netherlands is expected to reinforce our financial position before year-end. The proceeds from this transaction will be used to repay the first tranche of the Francisco Partners loan, reducing our net debt significantly and further enhancing our financial stability.