The OTT SVOD platform Alchimie is targeting operational breakeven in Q4 2022, based on launching 210 channels, securing 1.2 million subscribers and doubling its revenue.
In its latest set of results, the company says that it had revenues of €28,952,000 in 2020, or 22.5% more than a year earlier. Its cost of sales rose by 39.9% to €13,794,000 as it is currently in an investment phase. Its gross margin in the video busines, Alchimie’s main segment, was 48% as opposed to 52% in 2019.
This temporary decrease arose mainly due to the integration of TVPlayer, acquired in Q4 2019 in the UK, and investments made last year.
Overall, Alchimie had a net loss of €8,582,000 in 2020 compared to one of €890,000 a year earlier.
Commenting on the results, Nicolas d’Hueppe, CEO and Founder of Alchimie, said: “2020 was a year of transformative achievements for Alchimie. Our IPO gave us the financial resources we needed to continue growing, and we stepped up the pace of operational development, ending the year with 70 channels and 330,000 subscribers. With nearly €29 million of consolidated revenue, Alchimie exceeded the target we set at the time of the IPO. The Covid-19 situation helped us, because it led to increased consumption of video content and boosted subscriptions for streaming services like Alchimie’s. As a result, I am confident that we will be able to continue our development in 2021, and we are maintaining the short- and medium-term targets we set at the time of our IPO last year, including the achievement of operating breakeven by Q4 2022”.
