MioGroup Reports 2021 Results with 62 Million Euros in Revenue, Marking Historic Growth for the Company
MioGroup Reports 2021 Results with 62 Million Euros in Revenue, Marking Historic Growth for the Company
The group’s operational efficiency has led to a 119% increase in recurring EBITDA, a doubling of operating income to 2.4 million euros, and a solid financial position with 5.3 million in net cash.
Last July, the company began trading on BME Growth following a debut that was 5.5 times oversubscribed, and it ended the year with a 44% increase in its share price
In line with its inorganic growth strategy, MioGroup has completed the acquisition of four companies since January 2021: Artyco, Dendary, Zond.tv, and, in March of this year, Datarmony
In addition, as part of its innovation strategy, the company has continued to expand its portfolio of proprietary technologies: Twync (digital advocacy), Dendary App (Amazon automation), Wanasee (sales video assistance), and the MiOS platform (martech, which includes sales modules such as Spoon and MiOS Competitors)
MioGroup, a strategic consulting firm specializing in marketing and digital transformation services, has released its 2021 financial results and key milestones. The company grew by 37% compared to the previous fiscal year, generating 62.6 million euros compared to 45.7 million euros in 2020. In addition, this year the company went public with the offering oversubscribed by 5.5 times and a 44% increase in its share price by year-end, and it has announced the acquisition of four companies since January 2021: Artyco, Dendary, Zond.tv, and, in March of this year, Datarmony.
MioGroup has managed to double its operating profit to 2.4 million euros, driven by growth in the Group’s two main areas of activity: strategic consulting and paid media advertising. As a result, the Group has set a new record, achieving a recurring EBITDA—calculated by excluding all expenses related to the initial public offering and corporate transactions carried out as part of its inorganic growth strategy—of 2.8 million euros in 2021, more than double the 1.3 million euros recorded in 2020. Consequently, the share of this result in the Group’s gross margin has risen from 13% in 2020 to 21% this year.
Yago Arbeloa, President of MioGroup, stated that “2021 was a year in which we recorded our highest growth—historic figures—in part, due to our listing on BME Growth, which has allowed us to drive acquisitions and invest in the development of proprietary tools and products to continue expanding our highly specialized services, go one step further, and maintain our leadership in innovation. Part of this year’s results is due to the measures we took in 2020, aimed at supporting our clients through accelerated digital transformation processes to adapt to a new reality and meet the demand that would follow the recovery in consumer spending.”
Operational efficiency has enabled the company to achieve a solid financial position with 5.3 million in net cash, supported by operating cash flow exceeding 5 million and a 3 million euro capital increase carried out at the time of the initial public offering.
As part of this growth strategy, MioGroup has completed the integration of Artyco, Dendary, Zond.tv, and, in March of this year, Datarmony. Artyco specializes in data management, processing, and analysis, transforming data into insights and knowledge to design and execute personalized and automated digital marketing strategies and campaigns. Dendary is a digital marketing agency specializing in Amazon, and ZOND.tv is a pioneer in branded content projects in Spain, specializing in the creation of branded content. Finally, the acquisition of Datarmony—a company offering data analytics solutions based on artificial intelligence and machine learning—strengthens and complements Artyco’s value proposition in data services, where it already offers advanced measurement and analytics, business intelligence and customer insights, CRM, and CDP, among other offerings.
To develop these proprietary products, the Group invested 187,000 euros in 2021, enabling it to stand out from the competition. Twync—one of the largest Spanish-speaking communities dedicated to generating and amplifying online content with influencers—has evolved into a “digital advocacy” platform aimed at companies, enabling their employees to create content on their own social media channels as brand advocates. The company has continued to invest in the development of the Dendary App, a tool that connects to Amazon Marketplace data to extract information on campaign performance and automate the reporting process for tracking the evolution of clients’ digital business on that marketplace; as well as in Wanasee, a web-integrated video call and chat system that improves the sales process by increasing conversion rates.
Finally, within the “MiOS” platform—which offers Martech technology services—the sales module called “Spoon” has been further developed; a tool that uses econometric models and automation technology to continuously optimize advertising investments and recommends to clients the most appropriate marketing mix model to achieve their business objectives. During 2021, in addition to the ability to measure the business attribution of investments in TV campaigns, functionality has been added to also measure radio campaigns, making us pioneers in offering a proprietary tool that enables measurement across the entire advertising spectrum—including both digital and traditional media—in our country. Additionally, a new feature has been developed in miOS to track competitors’ advertising activity, called “MiOS Competitors.”
To ensure it can successfully manage both inorganic growth and international expansion, the group has restructured its executive team, strengthening key areas of the company with the goal of providing stability and maximizing this growth potential. As a result, Francisco Jiménez-Alfaro, the group’s former CEO, has assumed the position of VP of International Development to head the subsidiary the group has opened in Portugal and lead a strategy of internationalization and growth. In his place, Álvaro Cabrera has been appointed CEO of MioGroup Spain to lead the business’s growth in its main market. Additionally, Antonio Requejo has been appointed General Manager of MIO Consulting; Jacobo Álvarez has joined as General Counsel & Legal Director of MioGroup; and Daniel Casal has been named Director of Strategy and Alliances at MioGroup.
Thus, the measures adopted in 2021 have been aimed at strengthening the Group’s organizational structure, preparing it for its initial public offering and accommodating inorganic growth, while continuing to focus on organic growth. This has enabled the company to post record results, which allow it to sustain business development and continue investing in the development and innovation of new technologies.
