Quarterly revenues up 22% to €45.9 million

Strong growth in digital marketing activities: + 53


Paris, May 30, 2022 (8:00 a.m.) – The DÉKUPLE Group, expert in cross-channel data marketing, today published its revenues for the first quarter of 2022.

Bertrand Laurioz, Chairman and CEO, said: “Following on from a year of strong growth (+18%) and profitability in 2021, the DÉKUPLE Group is continuing its development dynamic with a 22% increase in revenues in the first quarter of 2022.

Most of the growth is being driven by the expansion of Digital Marketing offerings, which are up 53% compared to Q1 2021 and now account for half of the Group’s revenues. Supported by the strong organic growth of our consulting activities and the expansion of the scope of our data marketing engineering offerings, this momentum, which is expected to continue, testifies to the success of DÉKUPLE’s efforts to support the development of its very high-potential offerings.

The portfolio activities are solid and remain fundamentally well controlled. In the Magazines business, the decline in returns on commercial investments was offset by higher prices from press publishers. In Insurance, growth is intensifying with sales up 27%, driven by the expansion of the product offering and the integration of the strategic assets of AssurTech Qape

Our performance this quarter demonstrates DÉKUPLE’s resilience in the face of the current economic uncertainties and we are confident in our ability to achieve another year of strong growth in 2022.

In line with our strategic plan “Ambition 2025″ and thanks to the continuous mobilization of our teams, we are pursuing our strategy of innovation and investment, through organic growth or acquisitions, to make DÉKUPLE a leader in data marketing in Europe.”


The DÉKUPLE Group recorded solid growth in its activities in the first quarter of 2022, with revenues[1] of €45.9 million, up 21.6%. The Group’s gross margin[2] stood at €36.7 million, up 14.1% on the previous year.

By business group, the evolution of the Group’s revenues is as follows :

En M€ T1 2022 T1 2021 Variation
Magazines 20,7 21,0 -1,7 %
Marketing digital 23,2 15,1 +53,3 %
Assurances 2,1 1,6 +26,7 %
Chiffre d’affaires 45,9 37,8 +21,6 %


By geographic area, the evolution of revenues is as follows:

En M€ T1 2022 T1 2021 Variation
France 40,8 33,9 +20,1 %
Espagne 5,2 3,8 +34,8 %
Chiffre d’affaires 45,9 37,8 +21,6 %

By business group, the evolution of the Group’s gross margin is as follows :

En M€ T1 2022 T1 2021 Variation
Magazines 20,7 21,0 -1,7 %
Marketing Digital 13,9 9,5 +47,2 %
Assurances 2,1 1,6 +26,7 %
Marge brute 36,7 32,1 +14,1 %


Gross profit for the Magazines business was broadly stable compared with a dynamic first quarter of 2021 (sales of open-ended subscriptions were up 7.7%), while gross revenues[3] for the business were down 3.3% at €54.8m. The increase in publisher prices partially offset the decline in recruitment for new commercial campaigns, which at March 31, 2022 resulted in an 8% decrease in the portfolio of active free-term subscriptions to 2,434 thousand units.

In thousand units 31 mars 2022 31 mars 2021 Variation
Abonnements actifs à durée libre 2 434 2 646 -8,0 %



The Digital Marketing business has maintained a strong growth dynamic with a gross margin of €13.9 million, up 47% compared to Q1 2021.

The gross margin of the consulting offers (€9.2 million) is up 43%, reflecting the great success of Converteo’s expertise in data and digital strategy, whose headcount continues to grow strongly and whose organization is being simplified to support the accelerated development of its three main practices (Data x Business Consulting, Analytics x Digital products, Media x CRM).

The gross margin of the Marketing Engineering offerings in France (€3.7 million) increased by 75%, taking into account a perimeter effect of €1.5 million linked to the integration of Reech (an Influence Marketing expert) since the third quarter of 2021. On a like-for-like basis, the business is stable overall, as the end of the health crisis and the uncertain economic situation have not yet allowed a return to growth in business development.

The gross margin for marketing services in Spain (€1.1 million) is up 13% due to the increase in commercial operations.

Marge brute – En M€ T1 2022 T1 2021 Variation
Conseil – France 9,2 6,4 +43,2 %
Ingénierie Marketing – France 3,7 2,1 +75,0 %
Services Marketing – Espagne 1,1 1,0 +13,3 %
Marge brute
Marketing Digital
13,9 9,5 +47,2 %



The gross margin of the ADLP Assurances subsidiary, which specializes in affinity insurance brokerage through direct marketing, was €2.1 million, up 27%. Growth was driven by the development of the policyholder portfolio and the diversification of the product offering, particularly in the area of supplementary health insurance with the integration, since the end of 2021, of the technological assets of QAPE, an AssurTech that designs, distributes and deploys innovative health insurance solutions, and of the assets of its supplementary health insurance company KOVERS, which has been awarded the “Ethical Health Insurance” label.



In line with “Ambition 2025”, the DÉKUPLE Group is maintaining its expansion strategy aimed at becoming a European leader in data marketing. The Group’s solid financial resources will enable it to support aggressive growth in digital marketing in order to strengthen its positions in this area, while continuing to invest in its recurring revenue-generating portfolio activities.




[1] Revenues (which are determined on the basis of the French status of press commission agent for subscription sales) only take into account the amount of remuneration paid by press publishers; in the case of subscription sales, revenues therefore correspond in reality to a gross margin, since the cost of magazines sold is deducted from the amount of sales received. In the case of acquisition and management fees relating to the sale of insurance contracts, revenues include fees issued and to be issued, earned at the closing date of the accounts, net of cancellations.

[2] For digital marketing activities, gross margin represents all revenues (total invoices issued: fees, commissions and purchases rebilled to clients) less all external purchasing costs incurred on behalf of clients. It is equal to the turnover for magazine and insurance activities.

[3] Gross sales represent the value of subscriptions and other products sold. It is equal to revenues in the case of insurance activities.