- Business activity resilient, driven by Targetspot and Europe
- Operating profitability improves
- Group growth prospects reasserted
AudioValley (Paris:ALAVY) (Brussels:ALAVY)(ISIN Code: BE0974334667/Ticker: ALAVY), an international specialist in digital audio solutions,has presented its results for the first half of 2020. The financial statements, closed on 30 June 2020, were approved by the Board of Directors on 9 October 2020. For the sake of clarity, the data presented below is provided on a comparable consolidation scope basis. In application of IFRS accounting standards, the 2019 interim accounts have been restated for the disposal of the Storever business, completed on 5 December 2019.
Solid resilience despite public health context
Revenue declined by a limited amount during the period, slipping 11% to €8.7m (-12% on a constant currency basis). Although the COVID-19 outbreak took a heavy toll on revenue in the second quarter (down 22% on Q2 2019), the Group’s performance rallied