Press release

Invibes Advertising exceeds targets by doubling its organic revenue in 2021 to reach 23.3 million euros

London, January 1seven, 2022 Invibes Advertising, a leading technology company specializing in digital advertising, publishes revenues for the fourth quarter of 2021 and the fiscal year 2021.

Breakdown of consolidated turnover by quarter

Consolidated data
unaudited, in K€.
2021 2020 Δ
1st trimester 3,445 1,710 +101%
2nd trimester 5,338 1,928 +177%
3rd trimester 5,096 2,838 +80%
4th trimester 9,382 5,054 +86%
ANNUAL TOTAL 23,261 11,530 X2

In 2021, Invibes Advertising doubled its organic revenue compared to 2020, to €23.3m, exceeding its 2021 target by €22m.

Invibes Advertising saw strong growth in the fourth quarter across all operating countries – France, Spain, Switzerland and ML2Grow (existing and established) and Germany, UK, Italy, Belgium (scale-up). This exceeded the objectives set for the last quarter of the year.

Breakdown of consolidated revenue by country maturity

Consolidated data
unaudited, in K€.
2021 2020 Δ
Existing countries (1) 17,840 10,504 +70%
To augment (2) 5,398 1,026 ×5.2
New countries (start-ups) (3) 23 n / A
ANNUAL TOTAL 23,261 11,530 x2

(1) France, Spain, Switzerland and ML2GROW
(2) Germany, UK, Italy, Belgium and Invibes International
(3) Sweden, Norway, Denmark, South Africa, Netherlands, Dubai

These figures further validate Invibes Advertising’s international development strategy on which the success of Invibes Advertising is based.

Although already a strong performer, Invibes Advertising believes there are still significant opportunities for growth in both existing and expanding countries.

In addition, the new countries opened at the end of 2021 (Netherlands, Nordics, South Africa and United Arab Emirates), while currently in the start-up phase, have localized teams in place following a recent recruitment campaign , and are in place and ready to boost growth from 2022.

Positive profitability expected in 2021

Invibes Advertising is not only focused on strong growth, but also on tight management of its cost structure.

With its experience of launching activities in more than 10 countries, Invibes Advertising is able to precisely model the ROI of each new country to ensure that it contributes to the group’s results within a few months.

This increased visibility of its model allows the company to be confident about achieving a positive EBITDA for the 2021 financial year.


Over the next few years, Invibes Advertising plans to continue its growth trajectory, driven by a digital advertising sector energized by the rise of digitalization in all business sectors.

Invibes’ growth strategy revolves around 6 major strategic levers:

  • Acceleration of existing countries.
  • The opening of new countries.
  • Strengthening of its technological platform.
  • Deployment of technological services for its strategic customers.
  • The launch of a 100% self-service platform dedicated to SMEs.
  • The development of its subsidiary ML2Grow, specializing in business services for Big Data and artificial intelligence projects.

This aggressive strategy will allow Invibes Advertising to reach its ambition of 100 million euros in revenue by 2024, representing an average annual growth rate (CAGR) between 2020 and 2024 of approximately +72%. While a significant portion of this growth should be achievable organically, it could also include some M&A activity.

Next release: 2021 annual results, March 22, 2022, after market close

On Invibes Advertising

Invibes Advertising is a leading technology company specializing in digital advertising. Its innovative solutions are based on an in-feed format, integrated with media content.

Invibes is inspired by social media advertising and develops its own technology to help brands communicate better with consumers. Its technology is optimized to be broadcast on a closed network of media groups, including Bertelsmann, Hearst, Unify, Groupe Marie Claire, Axel Springer and many others. Clients include major brands such as Mercedes, Samsung, Levi’s and IBM.

Founded in 2011, Invibes Advertising is listed on Euronext Growth Paris (Ticker: ALINV – ISIN: BE0974299316). Visit for more information.

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Financial and corporate contacts:

Invibes Advertising
Kris Vlaemynck, CFO

List Sponsor
Asset Asset
Rodolphe Ossola
+33 (0)1 56 69 61 80

Group Investor Relations
Alexandre Commerot
+33 (0)1 56 88 11 11

Financial Media Relations
Jennifer Julia
+33 (0)1 56 88 11 19

  • 2022 01 17 – CP – Invibes Advertising – Final FR