VOGO (EPA:ALVGO) - VOGO : Revenue up 89% in first-half 2021. Confirmed acceleration in sales momentum.
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Montpellier, 21 July 2021
Revenue up 89% in first-half 2021
Confirmed acceleration in sales momentum
VOGO (ISIN: FR0011532225 - Mnemonic: ALVGO) published its first-half 2021
As forecast, the sales momentum initiated in second-half 2020 accelerated in
first-half 2021. The company expects the confirmation of this return to a solid
growth trajectory in the second half of the year, underpinning expectations of
a successful financial year in terms both of increased business activity and
H1 2021 Chg. % H1 2020 Chg. % H1 2019*
Total revenue 4.3 +89% 2.3 +216% 0.7
o/w Sports revenue 2.9 +124% 1.3 +89% 0.7
o/w Industry revenue 1.3 +76% 0.7 NS NS
o/w EMEA revenue 3.5 +83% 1.9 +192% 0.7
o/w US revenue 0.6 +118% 0.3 NS NS
* Excluding the activity of VOKKERO(r), acquired in late-October 2019.
Revenue totalled nearly EUR4.3m in first-half 2021, up 89% year on year.
Revenue increase of 124%, driven by solutions for professionals
A head start in innovation to benefit from the expected recovery in demand for
Sports market revenue increased 124% in the first half, coming out at EUR2.9m
(70% of total business activity for the period), compared with EUR1.3m in
Professional ranges were largely responsible for the solid performance, with
numerous sales successes having expanded the scope of sports disciplines
targeted and strengthened the Group's international positions:
- The VOKKERO ranges (including audio communication solutions for umpiring,
medical surveillance and coaching) ramped up with a strong rise in order
intake. Recent signatures include major successes in football in Italy
(Serie A and Serie B) and Spain (Liga 1 and Liga 2);
- Business was also buoyant for the VOGO SPORT range, the momentum of which
will be confirmed in the coming months with the planned resumption of major
sports events. The latter notably include the FIFA Beach Soccer World Cup in
Moscow and the FIFA eWorld Cup, both held in August and for which the Group's
professional video solutions have already been selected.
In addition to sports solutions for professionals, the gradual return to a
controlled health situation also points to a future rebound in the sales of fan
VOGO is ready to fully benefit from this recovery thanks to its continuous
innovation efforts. This technological lead was demonstrated in 2020 with the
launch of a new out-of- venue solution called "Place Virtuelle" for sports
actors looking for new sources of income.
VOGO is also already positioned on 5G, the aim being to strengthen the scope of
its high value-added offerings with lower infrastructure requirements. In this
sector, VOGO is already a leading partner of Orange
The first half of the year was also marked by the initial sales successes of
VOGOSCOPE, the first "turnkey" kit for multi-camera capture and live and replay
video broadcasting for amateur sports, gyms and local authorities. Co-developed
by VOGO and ABEO, the new video solution opens up major international growth
potential for both companies by targeting sports coaches and technical staff
(for the improved performance of athletes) and by enabling audiences to watch
sports events that do not benefit from filmed or televised capture.
By targeting all sports markets (professionals and fans, amateur and elite
athletes) through unique audio and video solutions, VOGO today is ideally
placed to fully benefit from global opportunities in its markets in the world
Continued solid growth
Revenue up 76% in the first half
In Industry, VOGO posted revenue of nearly EUR1.3m in first-half 2021, compared
with EUR0.7m in first-half 2020. This business activity contributed 30% of
total revenue. Once again, momentum was robust in the first half of the year,
with business activity continuing to benefit from persistent strong demand for
audio communication solutions in restricted environments.
Major signings in the first half included Amazon, Eiffage Rail, La Brigade des
Sapeurs- Pompiers de Paris (Paris fire brigade) and Sanofi.
Strong growth in Europe (+83%), substantial recovery initiated in the United
All the geographical regions benefited from the accelerated sales momentum in
the first half. In the EMEA region (including France), revenue totalled EUR3.5m
(83% of total business activity), for an increase of 83%.
In the United States, the world's number-one sports market, where business was
considerably impacted by the health situation, a recovery is now under way.
VOGO returned to growth in the region with revenue of over EUR0.6m, up 118%.
The upturn in this strategic market was fuelled by several sales successes.
These notably included the contract signed with the Professional Referee
Organization, which manages all the umpiring of Major League Soccer matches.
For the coming months, VOGO already benefits from powerful visibility, with new
orders signed by PAC 12 (Pacific-12 Conference) and SEC (Southeastern
Conference), two university groups, for implementation in American football.
Demonstrations are also planned with major sports organisations in the North
American golf, e-sports and soccer markets.
Regarding sales circuits, all sales channels contributed to this extension of
the company's reach in France and internationally. Direct sales amounted to
over EUR2.2m in revenue, accounting for 52% of total business activity in the
first half, up 81%. Sales partner business was also extremely strong, with
revenue of over EUR2.1m, up 97% (48% of total business activity over the
Confirmed confidence in continued growth
Acceleration of innovation, notably in Sports Health
Pursuit of a determined acquisition strategy
Despite persistent tensions in the supply of components, VOGO is confirming its
confidence in its business outlook in the coming months on the basis of a
successful first half and the quality of its order book.
In terms of innovation, the Group has decided to step up its efforts in digital
audio and video, 5G networks and artificial intelligence. Two BPI financings
are currently under way in these areas:
- IA5 (EUR1.6m still to be received); and
- PIA3 (EUR0.3m still to be received)
Furthermore, the work achieved as part of the EasyCov consortium has served to
reinforce relations with the CNRS national research centre and players in the
healthcare sector. As previously announced, new developments are already under
review for seizing opportunities in the digital-health, performance and
well-being markets, particularly in connection with the sports market.
In addition to the robust outlook on organic growth, and thanks to its solid
financial situation (gross cash position of EUR7.9m at 30 June 2021), VOGO also
intends to remain attentive to external growth opportunities, which will serve
to reinforce its now well- established presence among the leading global
players in the sports market.
In the Sports sector, VOGO is a leading international player with its
audiovisual solutions for fans and professionals alike, through its two
flagship brands: VOGOSPORT and VOKKERO. For professionals, VOGO offers analysis
and decision-making tools (referee assistance, medical diagnostics, coaching).
VOGO's disruptive solution for fans transforms the stadium experience by
providing multi-camera content on demand for tablets and smartphones, no matter
how many people are connected. VOGO also operates in the Industry and
Healthcare sectors. All of the Group's technologies are patent-protected. VOGO
operates in France (Montpellier, Paris and Grenoble) and in North America, with
an office in New York. It operates indirectly in other countries through its
network of 35 distributors. The Group has been listed on the Euronext Growth
stock market since November 2018 (ISIN code: FR0011532225 - ALVGO). It also
joined the European Tech40 in 2020.
For more information: www.vogo-group.com
Tel: +33(4) 67 50 03 98
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