- +39% in the 4th quarter
- Success of the strategy pursued since the IPO
- Positive outlook
|In € thousands||2015||2016||Change|
|Revenue - 9 months||20,055||25,612||+27.7%|
|Revenue -4th quarter||8,529||11,846||+38.9%|
|Revenue - Full year||28,584||37,459||+31.0%|
|Revenue - Full year at constant €/$ exchange rates||28,584||36,894||+29.1%|
The statements are currently being audited.
ATEME, world specialist in video compression, posted revenues of €11.8 million for the fourth quarter of 2016, up 38.9% on the same period in 2015 (+35.7% at constant exchange rates). After a 37.6% increase in revenues in the third quarter, ATEME's performance in the final three months of 2016 - traditionally the busiest period of the year - once again reflected the Group's strong growth dynamic.
Total revenues for financial year 2016 (which closed on 31 December) stood at €37.5 million, up 31.0% on 2015 and 29.1% at constant exchange rates, giving ATEME its fifth consecutive year of topline growth which averaged 23% per year between 2011 and 2015 and accelerated in 2016.
Breakdown by geographic region
|Revenue in € thousands||FY 2015||FY 2016||Change|
|USA / Canada||7,104||11,948||+68.2%|
Revenues in EMEA were broadly flat despite a high base effect (growth of 30.4% in 2015).
In the USA/Canada revenues rose 68.2% (coming on top of already strong growth of 52% in 2015) thanks to a strong commercial performance and enhanced visibility with tier one customers. Indeed, 2016 saw ATEME broaden its customer base and successfully penetrate some of the major operators, which represent strong growth potential.
After a downturn in 2015, revenues in Latin America saw a significant rebound with growth of 74.8%. In addition to Brazil, the Group made headway in new high-growth markets such as Mexico and Argentina.
Finally, following the reorganization of its sales teams in 2015, revenues in the Asia-Pacific region also saw a substantial recovery, up by 82.7%.
ATEME's performance will be stronger in the second half of 2016 than in the first, where the Group recorded a net loss of €1.6 million. The additional €7.5 million in revenues in the second half compared to the first will allow for better absorption of operating costs which only increased moderately between the two periods.
ATEME Chairman and Chief Executive Officer, Michel Artières, said: "The strong growth in revenues in 2016 was driven by the success of the strategy pursued since our IPO in July 2014. In just two years, ATEME has launched a new generation of products and strengthened its international sales reach. As expected, the growing demand for this type of solution has led to significant commercial wins in the second half of 2016.
2017 is set to be another year of growth in all of the regions in which we are present, with revenues driven by the ramp-up of customers won in 2016 and market share gains."
Full Year 2016 results on 29 March 2017 (after market close)
ATEME is a technological leader in video compression that provides TV channels and content broadcasters with encoding and decoding solutions for video delivery. The company's technological edge means clients benefit from outstanding image quality whilst at the same time reducing their bandwidth consumption.
Drawing on over 10 years of proprietary R&D, ATEME was a key contributor in the launch of HEVC (High Efficiency Video Coding), the new standard in video compression whose generalized application offers excellent growth potential for the Group.
With a commercial presence in 14 countries, ATEME employs 170 members of staff, including more than 70 R&D employees in France, and served close to 350 clients around the world in 2016. The Group posted revenues of €37.5 million in 2016, 91% of which was realized overseas.
Name: ATEME - ISIN Code: FR0011992700 - Ticker: ATEME - Compartment: C