3.5.2022 09:06:20 CEST | Mdundo.com A/S |
Periodeoplysning
Mdundo havde i marts 2022 17 mio. aktive brugere, hvilket er en stigning på 140% siden marts 2021. Selskabet forventer nu 19-20 mio. månedlige aktive brugere ved udgangen af 2021/22 regnskabsåret i juni, mod tidligere guidance på 18 mio.
Indeholder intern information:
Selskabsmeddelelse nr. 3-2022
Selskabet offentliggør hermed kvartalsmeddelelse for 3. kvartal 2021/22, og indholdet vil blive præsenteret af CEO Martin Nielsen på et webinar d. 4. maj kl. 15.00 CET. Link til tilmelding findes her: https://kapitalpartner.dk/arrangementer/
Highlights:
140% vækst i månedlige aktive brugere fra tredje kvartal 2021 (7,1 mio.) til udgangen af tredje kvartal 2022 (17 mio.). Største land målt på antal månedlige aktive brugere var Nigeria med +4,5 mio., efterfulgt af Kenya, Sydafrika og Tanzania
Den stærke vækst er fokuseret omkring Mdundos hovedmarkeder og i Nigeria, Kenya og Sydafrika er antallet af månedlige aktive brugere vokset med over 300% fra tredje kvartal 2021 til tredje kvartal 2022.
I løbet af tredje kvartal gennemførte Selskabet initiale test med fodbold og religiøst content på mdundo.com og opnåede positive resultater af disse tests, hvorfor tests fortsætter.
Igangsat brand awareness marketing-kampagner i Nigeria og Tanzania, som forventes at have langvarige positive effekter på 1) månedlige aktive brugere samt betalende kunder og 2) muligheden for at øge B2B reklamesalg.
I løbet af kvartalet har Mdundos salgsteam i lukket B2B reklameaftaler med ledende brands som fx Nivea, 10Bet, Guinness, Airtel and Standard Chartered Bank. Antallet af aftaler er dog lavere end forventet i 3. kvartal.
Stærk likviditet med DKK 22,6 mio. i indeståender ved kvartalets udgang.
Outlook:
Mdundo har tidligere meddelt, at antallet af månedlige aktive brugere forventes at stige til ca. 18 mio. ved udgangen af regnskabsåret 2021/22. Baseret på en stærk vækst opjusterer Selskabet nu forventningen til 19-20 mio. månedlige aktive brugere i juni 2022.
Selskabets har tidligere guidet et EBITDA for regnskabsåret 2021/22 på minus DKK 10 – 11 mio. Forventningen opjusteres til et bedre EBITDA på minus DKK 8-9 mio. for 2021/22. Dette skyldes hovedsageligt lavere marketingomkostninger end forventet, hvilket kombineret med en opjustering af forventede antal månedlige aktive brugere anses som stærkt. Ligeledes justeres forventningerne til Selskabets omsætning i regnskabsåret 2021/22 til DKK 7,0 – 8,0 mio. mod tidligere forventning på DKK 9-10 mio. Dette skyldes hovedsageligt et svagere 3. kvartal på direkte reklamesalg, mens salg via reklamenetværk fortsætter i en positiv udvikling og nåede i marts et niveau svarende DKK 500.000, svarende til DKK 6 mio. på årsbasis såfremt niveauet fastholdes. ÅTD har salg via reklamenetværk udgjort 38% af omsætningen, direkte B2B reklamesalg 45%, mens abonnementsindtægter via teleselskabsaftaler har udgjort den resterende andel.
Selskabets ledelse er ved at færdiggøre ”Strategi 2022 – 2025” og forventer at offentliggøre hovedpunkterne i denne sammen med guidance for 2022/23 i anden halvdel af juni 2022.
Management review:
Fortsat stærk brugervækst: Mdundo når 17 mio. månedlige aktive brugere i marts, hvilket er en vækst på 140% fra tredje kvartal 2021. Selskabets ledelse har opjusteret forventningerne til brugervækst til fra 18 mio. til nu 19-20 mio. månedlige aktive brugere ved udgangen af regnskabsåret 2021/22. Største land målt på antal månedlige aktive brugere var Nigeria med +4,5 mio., efterfulgt af Kenya, Sydafrika og Tanzania.
Lancering af nye markedsføringsaktiviteter: Sidste år etablerede Mdundo telekommunikationspartnerskaber i Nigeria og Tanzania, der gjorde det muligt for 125 millioner potentielle kunder at abonnere på Mdundos betalte tjeneste. I løbet af kvartalet har Mdundo lanceret nye marketingaktiviteter for at øge bevidstheden om den betalte tjeneste, herunder ”on-ground activation” i Lagos, der bl.a. involverer branding i 4.500 lokale busser. I Tanzania er der lanceret et ”affiliation” partnerskab med Tanzanias største radiostation, Clouds FM. I en 3 måneders prøveperiode vil radiostationen promovere CloudsFM branded indhold på Mdundos tjeneste via radiospots.
Salgsfokus på vækstmarked: I løbet af kvartalet har Mdundos annoncesalgsteam lukket adskillige annonceaftaler, heraf har brands som Nivea, 10Bet, Guinness, Airtel og Standard Chartered Bank kørt kampagner på Mdundo.com. Som et resultat af Mdundos geografiske udvidelse af salgsteamet stammer et betydeligt antal aftaler i 3. kvartal fra Selskabets vækstmarkeder Tanzania og Nigeria. Antallet af lukkede aftaler er dog lavere end forventet for kvartalet.
Teamudvikling: Virksomheden har ansat Whitney Njeru Njagi som Chief Operating Officer med start i maj. Whitney har senest en baggrund fra Lake Turkana Wind Power, hvor han fungerede som Head of Financial Planning and Analysis and Stakeholder Engagement. Derudover kommer han med syv års erfaring fra KPMGs Finance, Strategy and Deal Advisory enhed. Mdundos nigerianske team er ligeledes vokset yderligere med Thelma Areh, der starter salgschef og Oghenetega Ajogun som Senior Marketing Manager.
Kontakter
Jesper Vesten Drescher, Bestyrelsesformand/Chairman of the board, +4523229900, ir@mdundo.com
Om Mdundo.com A/S
Mdundo er en ledende musiktjeneste i Afrika med millioner af brugere som streamer og downloader via vores hjemmeside og app hver eneste måned. Vores ambition er at give Afrikas millioner af internetabonnementer nem adgang til musik samt bidrage til struktur, legalitet og omsætning til musikindustrien. Mere: https://mdundo.com/
Mdundo.com A/SJagtvænget 22920 Charlottenlundwww.mdundo.com
Certified Adviser Kapital Partner ApSJernbanegade 41608 København V+45 89 88 78 46www.kaptalpartner.dk
Vedhæftninger
Download selskabsmeddelelse.pdf
Mdundo Report 3rd Quarter 2021-22 EN.pdf
3.5.2022 09:06:20 CEST | Mdundo.com A/S |
Interim information
In March 2022, Mdundo had 17 million active users, which is an increase of 140% since March 2021. The company now expects 19-20 million monthly active users at the end of the 2021/22 financial year in June, against previous guidance of 18 million.
Contains insider information:
Company announcement No. 3-2022
The company hereby publishes the quarterly announcement for the third quarter of 2021/22, and the content will be presented by CEO Martin Nielsen at a webinar on 4 May at 15.00 CET. Link to registration can be found here: https://kapitalpartner.dk/arrangementer/
Highlights:
140% growth in monthly active users from the third quarter of 2021 (7.1 million) to the end of the third quarter of 2022 (17 million). The largest country in terms of number of monthly active users was Nigeria with +4.5 million, followed by Kenya, South Africa and Tanzania.
The strong growth is focused around Mdundo’s main markets and in Nigeria, Kenya and South Africa the number of monthly active users has grown by over 300% from the third quarter of 2021 to the third quarter of 2022.
During the third quarter, the Company conducted initial tests with football and religious content on mdundo.com and achieved positive results from these tests, hence the tests continue.
The launch of brand awareness marketing campaigns in Nigeria and Tanzania, which are expected to have long lasting positive effects on 1) monthly active users as well as paying customers and 2) the opportunity to increase B2B advertising sales.
During the quarter, Mdundo’s sales team has closed B2B advertising agreements with leading brands such as Nivea, 10Bet, Guinness, Airtel and Standard Chartered Bank. However, the number of agreements is lower than expected in the third quarter.
Strong liquidity of DKK 22.6 million in deposits at the end of the quarter.
Outlook:
Mdundo has previously announced that the number of monthly active users is expected to increase to approx. 18 million at the end of the financial year 2021/22. Based on strong growth, the Company is now increasing its expectation to 19-20 million monthly active users in June 2022.
The company has previously guided an EBITDA for the financial year 2021/22 of negative DKK 10 – 11 million. The expectation is increased to a better EBITDA of negative DKK 8-9 million for 2021/22. This is mainly due to lower-than-expected marketing costs, which combined with an increase in the expected number of monthly active users is considered solid. The expectations for the Company’s revenue in the financial year 2021/22 are also adjusted to DKK 7.0 – 8.0 million against previous expectations of DKK 9-10 million. This is mainly due to a weaker 3rd quarter on direct advertising sales, while sales via advertising networks continue in a positive development and reached a level in March around DKK 500,000, corresponding to DKK 6 million on an annual basis if the level is maintained. YTD has sales via advertising networks accounted for 38% of revenue, direct B2B advertising sales accounted for 45% while subscription revenues via telecommunications company agreements accounted for the remaining share.
The company’s management is in the process of completing “Strategy 2022 – 2025” and expects to publish the main points in this together with guidance for 2022/23 in the second half of June 2022.
Management review:
Continued strong user growth: Mdundo reaches 17 million monthly active users in March, which is a growth of 140% from the third quarter of 2021. The company’s management has raised its expectations for user growth from 18 million to 19-20 million monthly active users at the end of the financial year 2021/22. The largest country in terms of number of monthly active users was Nigeria with +4.5 million, followed by Kenya, South Africa and Tanzania.
Launch of new marketing activities: Last year, Mdundo established telecommunications partnerships in Nigeria and Tanzania that enabled 125 million potential customers to subscribe to Mdundo’s paid service. During the quarter, Mdundo launched new marketing activities to increase awareness of the paid service, including “on-ground activation” in Lagos, which for instance involves branding in 4,500 local buses. In Tanzania, an “affiliation” partnership has been launched with Tanzania’s largest radio station, CloudsFM. During a 3-month trial period, the radio station will promote CloudsFM branded content on Mdundo’s service via radio spots.
Salesfocus on growth markets: During the quarter, Mdundo’s advertising sales team closed several advertising agreements, of which brands such as Nivea, 10Bet, Guinness, Airtel and Standard Chartered Bank ran campaigns on Mdundo.com. As a result of Mdundo’s geographical expansion of the sales team, a significant number of Q3 agreements originate from the Company’s emerging markets, Tanzania and Nigeria. However, the number of closed agreements is lower than expected for the quarter.
Team Development: The company has hired Whitney Njeru Njagi as Chief Operating Officer starting in May. Whitney most recently has a background from Lake Turkana Wind Power, where he served as Head of Financial Planning and Analysis and Stakeholder Engagement. In addition, he comes with seven years of experience from KPMG’s Finance, Strategy and Deal Advisory unit. Mdundo’s Nigerian team has also grown further with Thelma Areh starting as sales manager and Oghenetega Ajogun as Senior Marketing Manager.
Contacts
Jesper Vesten Drescher, Bestyrelsesformand/Chairman of the board, +4523229900, ir@mdundo.com
About Mdundo.com A/S
Mdundo is a leading music service for Africa with millions of people streaming and downloading music from our app and website every month. We aim to provide Africa’s millions of internet users with easy access to music whilst contributing structure, legality, and income to the sector. More info: https://mdundo.com/
Mdundo.com A/SJagtvænget 22920 Charlottenlundwww.mdundo.com
Certified Adviser Kapital Partner A/SJernbanegade 41608 København V+45 89 88 78 46www.kaptalpartner.dk
Attachments
Download announcement as PDF.pdf
Mdundo Report 3rd Quarter 2021-22 EN.pdf
