Press release

Sales growth of 8% in Q3 2023

London, 25^th October 2023 - Invibes Advertising (Invibes), an advanced technology company specialising in digital advertising , has published its sales figures for the 3rd quarter of 2023 and for the first nine months of 2023.

In the 3rd quarter of 2023, Invibes recorded consolidated sales of €6.0m, up 8% compared with the same period of 2022. On the strength of this renewed growth over the quarter, cumulative sales for the first 9 months of 2023 showed a limited decline of -2% to €18.4m.

After a general slowdown in the digital advertising sector since the second half of 2022 across Europe, the market has gradually regained strength in recent months, enabling Invibes to announce this return to growth.

Invibes' ability to bounce back as soon as favourable market conditions reappear reflects its unique value proposition, characterised by its fully integrated proprietary technology platform, which offers a major point of differentiation in the ecosystem which has ensured its consistent capacity for innovation that appeals to the world's leading brands.

During this period, Invibes also benefited from an increase of Services & Solutions - which are tailored to the specific needs of an advertisers' business sector. The contribution from these offerings made up to 15% of sales in September, and an increase in gross margin of 5 points over the first 9 months of 2023, representing an overall growth of 10.5% over the period. These performances demonstrate Invibes continuous ability to monetise its innovations, a trend that should continue over the coming months.

Many advertisers have adopted the Invibes Carbon-Neutral label since it launched at the beginning of 2023.

From the beginning of 2023, Invibes has been offering its customers a 100% carbon-neutral campaign, reflecting the company's desire to develop a more responsible form of advertising and radically transform advertising industry practices. To offset the carbon footprint of its campaigns and achieve a carbon-neutral balance sheet, Invibes invests in Gold Standard-certified projects to install solar panels, ensuring that its customers can take truly sustainable and responsible action.

Unique on the market, and reflecting Invibes' ability to constantly innovate in its sector, this alternative has been very much welcomed by major retailers, as it allows the advertiser to underline its CSR commitments and to meet the strong expectation of consumers, who are increasingly concerned about the environment.

Banque des Territoires (Caisse des Dépôts Group) inaugurated this solution in the spring with a "Carbon Neutral Advertising" campaign incorporating seven in-feed formats, including five video formats, to captivate and create a link with its partners while telling the story of its role and action in the ecological transformation.

In the 3rd quarter of 2023, new advertisers have adopted this label for their campaigns, including: ENGIE, Neste, National Trust Scotland, Polestar, Cofidis, The Very Group, Zespri, MUSE, etc.

Invibes points out that the carbon emissions of its campaigns are among the lowest in the advertising industry, with 26.1g of CO2 emitted per 1,000 impressions, 96% less than the industry average.

Further innovation and the launch of unique intelligent targeting solutions

In the 3rd quarter of 2023, Invibes continued to stand out from its competitors by continuing to integrate technological Services & Solutions tailored to advertiser sectors of activity, and increasingly new intelligent targeting solutions based on big data and innovative, high-impact in-feed formats.

To maintain a high level of user engagement, Invibes is constantly innovating to develop solutions that combine contextual and behavioural targeting to offer its customers more effective campaigns in order to bring them more value. This multi-dimensional approach guarantees that its customers reach the right people, with the right advertising creatives, in the right environment and at the right time, in the most effective way possible.

Notable interactive targeting solutions launched during the quarter include:

• Drive-to-Dealership: this solution enhances the impact of national campaigns by delivering locally relevant creative and messages, such as the address of the nearest shop, local stock availability, and the Invibes Call function, which allows users to call their local shop directly from the ad. Volkswagen has used this solution as part of an online advertising campaign to promote its new range of VW ID electric vehicles, with more than 100 of the company's dealers addressed.
• Eyewear: this solution targets and connects with users likely to need glasses. Based on the analysis of user behaviour patterns from the Invibes ID Network, Invibes can detect active users who zoom in frequently while reading online content, indicating a likely need for vision-enhancing products and services. Specsavers, a British multinational chain of opticians, was attracted by this new solution, and used it in combination with a Drive-to-Dealership solution, enabling the chain to increase footfall traffic into store.

Outlook: Confirmation of return to positive EBITDA in 2023

With a H1 marked by a return to positive EBITDA, benefiting from the effect of the cost-cutting measures implemented by the Group at the end of 2022, combined with the strength of the growth re-established in Q3, Invibes is reaffirming its confidence in its objective of achieving positive EBITDA for the full financial year of 2023.

Next publication: 2023 full-year revenues on February 1, 2024, after market close.

About Invibes Advertising

Invibes Advertising (Invibes) is an international technology company specialising in digital advertising innovation.

Founded on the philosophy that advertising efficiency comes from being truly innovative and naturally engaging to users, Invibes has developed an integrated technology platform for brands to reach consumers through impactful in-feed advertising.

Invibes delivers advertising that creates positive attention by harnessing the power of big data, innovative in-feed formats, wide reach and extensive intelligence services.

Pioneering the way in sustainable advertising, Invibes also offers a unique solution to offset campaign emissions through its Carbon-Neutral label.

In order to partner with some of the greatest brands in the world, like Amazon, Bacardi, Dell, IKEA and Toyota, we rely on even greater people. At Invibes we strive to maintain an energetic, open environment that fosters a culture of ideation, growth and #GoodVibes, that shines straight through to our clients.

Want to hear more about Invibes? Visit: www.invibes.com

Invibes Advertising is listed on the Euronext Stock Exchange (Ticker: ALINV – ISIN: BE0974299316)

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Financial & Corporate Contacts:

Kris Vlaemynck, co-CEO

kris.vlaemynck@invibes.com