Press release

2024 ANNUAL RESULTS1

Paris, April 3rd, 2025, 6:00pm – AdUX group, a specialist in digital advertising and user
experience (Code ISIN FR0012821890 - ADUX) released its results of the financial year
2024.
Positive and growing EBITDA in 2024


In M€ FY 2024 FY 2023 Var. %

Revenue 24,6 22,1 +11%
Gross margin 10,5 10,4 +1%
Group EBITDA (1) 4,3 3,6 +18%
Operating profit 3,1 2,5 +25%
Net income 3,7 2,3 +64%


Consolidated revenue for the 2024 financial year amounts to 24.6 million Euros compared to
22.1 million Euros in 2023 (+11%).
The growth is mainly due to continuing commercial success in France representing an
increasingly significant share in the volume of activity. Once again, this strong performance
in France compensates for the declining performance of other regions, allowing the group to
grow revenue.

The gross margin remains stable at 10.5 million Euros (+1%) which, with good cost control,
generated a positive and growing EBITDA (+18%) compared to the same period in 2023.
EBITDA improved to 4.3 million Euros compared to 3.6 million Euros in 2023.

Operating profit is 3.1 million Euros, compared with 2.5 million Euros in 2023 (+25%). This
increase is in line with EBITDA growth. Net income is 3.7 million Euros, compared with 2.3
million Euros in 2023 (+64%), following the recognition of deferred tax assets on tax losses
carry forward for 1.0 million Euros in 2024.




(1) Earnings before interests, depreciation and amortization.
Analysis of the income statement

The gross margin for the year reached 10.5 million Euros, which results in a relatively stable
gross profit (+1%) compared to the 2023 financial year.
External purchasing costs remained stable compared to 2023. They amounted to 3.1 million
Euros as of 31st of December 2024.
Personnel costs were 3.0 million Euros, decreasing by 0.5 million Euros compared to 2023.
EBITDA is positive and was 4.3 million Euros, increasing by 0.7 million Euros compared to
2023.
Depreciation and amortization are stable and amounted to -1.2 million Euros, which
contributed to a current operating profit of 3.1 million Euros vs. 2.5 million Euros in 2023.
After including the financial result and tax charges, the net income including Group share
amounts to 3.7 million Euros vs. 2.3 million Euros in 2023 (+64%), following the recognition
of deferred tax assets on tax losses carry forward for 1.0 million Euros in 2024.


In M€ 2024 2023 Var. Var %
Sales 24,6 22,1 2,5 11%
Charges invoiced by the media -14,2 -11,8 -2,4 20%
Gross profit 10,5 10,4 0,1 1%
Purchases -3,1 -3,2 0,0 -1%
Payroll charges -3,0 -3,5 0,5 -14%
EBITDA 4,3 3,6 0,7 18%
Depreciation and amortization -1,2 -1,2 0,0 4%
Operating profit 3,1 2,5 0,6 25%
Cost of indebtedness -0,3 -0,2 -0,2 93%
Other financial income and charges 0,0 0,0 0,0 -16%
Earning of the consolidated companies 2,8 2,3 0,5 20%
Share in the earnings of the companies treated on an equity basis 0,0 0,0 0,0
Earnings before tax 2,8 2,3 0,4 19%
Income Tax 0,9 -0,1 1,0 -1448%
Net income 3,7 2,3 1,4 64%
Including minority interests 0,0 0,0 0,0 140%
Including Group share 3,7 2,3 1,5 64%
Events & Perspectives

In 2024, the Group successfully maintained a stable level of profitability thanks to rigorous
cost management and a thoughtful adaptation of its commercial strategy.

Faced with a challenging economic environment, the Group implemented a prudent strategy
to preserve its financial performance.

For 2025, the Group intends to maintain this trend while intensifying its initiatives to address
local issues. It maintains its strategy, which is primarily based on its performance-based
solutions and point-of-sale traffic generation.
In an economic environment still marked by uncertainty, the Group continues to focus its
efforts on maintaining a stable EBITDA ratio relative to revenue, a measure of its strength
and ability to adapt to market conditions.




2024 annual and consolidated financial statements were approved by the Board of directors of AdUX SA on
April 2nd, 2025. Audit procedures are in progress. The annual financial report of the accounts closed on
December 31st, 2024 will be available within the legal deadlines on the Company's website www.adux.com in
the “Investors” section.



Next financial announcement
Half year results 2025
Wednesday 30th July 2025 after closing of the stock market
ABOUT ADUX
A pioneer of the sector, ADUX is a European specialist in digital advertising and user experience.
With a presence in 6 European countries, the company generated revenue of 24.6 million Euros in 2024.

The company is listed in the Euronext Growth in Paris.

Code ISIN : FR 0012821890 / LEI : 969500IIE66C3CFB1K57 / Mnémo : ADUX

For more information, please visit www.adux.com
Follow us on Twitter: @AdUX_France
LinkedIn: http://www.linkedin.com/company/adux_fr




This statement may contain forward-looking statements.

Although the AdUX Group believes that these statements are based on reasonable assumptions as at the date
of publication of this statement, they are, by their very nature, subject to risk and uncertainty that can create a
difference between the actual figures and those indicated in or inferred from these statements.
The AdUX Group operates in a continually changing sector where new risk factors can emerge at any time.
Consolidated Financial statements for FY2024 and FY2023


in thousands of Euros 2024 2023
Sales 24 626 22 124
Charges invoiced by the media - 14 152 - 11 774
Gross profit 10 474 10 350
Purchases - 3 114 - 3 155
Payroll costs - 3 043 - 3 550
EBITDA (1) 4 317 3 645
Depreciation and amortization - 1 237 - 1 190
Operating profit 3 080 2 455
Cost of indebtedness - 337 - 175
Other financial income and charges 38 45
Earning of the consolidated companies 2 781 2 325
Share in the earning of the companies treated on an equity basis - 16
Earnings before tax 2 781 2 341
Income Tax 935 - 69
Net income 3 715 2 271
Including minority interests 23 - 10
Including Group share 3 739 2 262
(1)
Current operating income before allocations and reversals of depreciation, amortization and provisions
Consolidated balance sheet as of December 31st, 2024 and December 31st, 2023



31 Dec. 2024 31 Dec. 2023
ASSETS - in thousands of Euros
Net Goodwill 2 468 2 468
Net intangible fixed assets 618 461
Net tangible fixed assets 45 59
Right of use assets related to leases 857 213
Deferred tax credits 1 046 -
Other financial assets 233 214
Non-current assets 5 266 3 414
Customers and other debtors 26 860 19 858
Other current assets 7 179 8 929
Cash and cash equivalents 1 967 1 881
Current assets 36 005 30 668
TOTAL ASSETS 41 272 34 082




31 dec. 2024 31 dec. 2023
LIABILITIES - in thousands of Euros
Share capital 1 569 1 569
Premiums on issue and reserves -2 745 -4 977
Treasury shares -123 -120
Consolidated net income (Group share) 3 739 2 262
Shareholders’ equity (Group share) 2 441 -1 266
Minority interests -18 5
Shareholders’ equity 2 423 -1 260
Long-term borrowings and financial liabilities 0 68
Long-term lease liabilities 180 63
Non-current Provisions 239 329
Deferred tax liabilities - -
Non-current liabilities 418 460
Short-term financial liabilities and bank overdrafts 4 506 2 646
Short-term lease liabilities 737 170
Current provisions 312 102
Suppliers and other creditors 26 113 23 117
Other current debts and liabilities 6 762 8 847
Current liabilities 38 430 34 882
TOTAL LIABILITIES 41 272 34 082
Consolidated Cash Flow statement for FY2024 and FY2023


in thousands of euros 2024 2023
Net income 3 715 2 271
Ajustments for :
Depreciation of the fixed assets 1 131 566
Value losses - -
Other non-current without impact on the cash - -
Cost of net financial indebtedness 251 128
Share in associated companies - -16
Net income on disposals of fixed assets 3 109
Costs of payments based on shares - -
Tax charge or proceeds -935 69
Operating profit before variation of the operating capital need 4 166 3 129
Variation of the operating capital need -2 522 -1 673
Cash flow coming from operating activities 1 644 1 456
Interest paid -251 -128
Tax on earnings paid -72 -99
NET CASH FLOW RESULTING FROM OPERATING ACTIVITIES 1 320 1 229
Income from disposals of fixed assets - -
Valuation at fair value of the cash equivalents - -
Proceeds from disposals of financial assets - -
Disposal of subsidiary, after deduction of cash transferred - -
Acquisition of a subsidiary - -
Acquisition of fixed assets -408 -283
Variation of financial assets -19 -49
Variation of suppliers of fixed assets - -
Effect of the perimeter variations - -
NET CASH FLOW COMING FROM INVESTMENT ACTIVITIES -427 -332
Proceeds from share issues - -
Redemption of own shares -2 4
New borrowings - -
Repayments of borrowings* -806 -1 015
Other financial liabilities variation - -
Dividends paid to minority interests - -0
NET CASH FLOW COMING FROM FINANCING ACTIVITIES -808 -1 011
Effect of exchange rate variations 0 -1
NET VARIATION OF CASH AND OF CASH EQUIVALENTS 86 -114
Cash and cash equivalents on January 1st 1 881 1 995
CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD 1 967 1 881
* including IFRS 16