2021 REVENUES: €164.3M (+17.9%)

  • 2021 REVENUES: €164.3M (+17.9%)


Paris, February 28, 2022 (8:00 a.m.) – The DÉKUPLE Group, an expert in cross-channel data marketing, announces its revenues for fiscal year 2021.

Bertrand Laurioz, Chairman and CEO, states “After a year 2020 with very slight growth compared to 2019 (+0.5%), the DÉKUPLE Group is resuming an accelerated growth trajectory in 2021 (+18%) and is demonstrating the strength of its diversified multi-entrepreneur model.

Our Digital Marketing activities are accelerating their growth (+46%) and strengthening their foothold in the main hubs of the data and digital market. They represent 45.3% of our annual revenues, compared with 36.5% the previous year, and will become our leading activity in terms of sales by 2022.
On the one hand, this dynamic is based on the expansion of our Consulting activities and their strategic position in supporting brands in the digital and IT transformation of their marketing organization. On the other hand, it is supported by the extension of the scope of our Marketing Engineering activities thanks to sustained external growth over the past two years, which in 2021 resulted in the acquisition of a stake in Intelligence Senior, a player in the marketing of the silver economy, and the purchase of Reech, an expert in influence marketing.

At the same time, our portfolio activities have confirmed their robustness thanks to their unique partnership sales model. Our Magazines business is consolidating its recurring business with a portfolio of nearly 2.6 million subscriptions, while the Insurance business is continuing its controlled growth (+24%) by diversifying its product mix and strengthening its growth capacities with the acquisition of the strategic assets of AssurTech Qape.

DÉKUPLE is taking a major step forward in its transformation. Driven by our new attractive brand and our commitment to technology and innovation, our activities are developing and enriching each other, as in the case of the creation at the end of 2021 of DÉKUPLE Ingénierie Marketing, a Brand MarTech agency, a unique response to the strategic business challenges of companies.

In line with the “Ambition 2025” strategic plan, DÉKUPLE is aiming for sustained organic growth over the next few years, reinforced by acquisitions. We have many assets and our solid fundamentals give us the necessary means to make DÉKUPLE a leader in data marketing in Europe.

Key figures for the first 9 months

In 2021, the DÉKUPLE Group generated revenues[i] of €164.3 million, up +17.9% compared to 2020, for a Gross Revenue[ii] of €316.6 million, up +10.1%. Gross margin[iii] was €134.6 million, up +12.8%.

By quarter and business group, the evolution of Group revenues was as follows :

En M€ 2021 2020 Variation
1er trimester 37,8 35,6 +6,1 %
2ème trimester 37,8 29,2 +29,1 %
3ème trimester 41,6 34,2 +21,5 %
4ème trimester 47,1 40,2 +17,1 %
Annual Total 164,3 139,3 +17,9 %
   Magazines 82,5 82,5 +0,0 %
   Digital Marketing 74,4 50,9 +46,2 %
   Insurance 7,4 5,9 +23,9 %


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

En M€ 2021 2020 Variation
France 147,2 126,0 +16,9 %
Espagne 17,0 13,4 +27,4 %
Turnover 164,3 139,3 +17,9 %


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

En M€ 2021 2020 Variation
Magazines 82,5 82,5 +0,0 %
Digital Marketing 44,8 30,9 +44,9 %
Insurance 7,4 5,9 +23,9 %
Gross Profit 134,6 119,3 +12,9 %

Magazines: solid performance

Gross profit for the Magazines business was stable at €82.5m. The growth in ADL (Subscriptions à Durée Libre) offers in partnership offset the impact of the end of prospecting under the France Abonnements brand in 2020 (- €3.7m). At the end of December, the number of ADLs managed in the portfolio in France stood at 2,544 thousand units, down 5.7% due to the decline in returns on commercial campaigns in 2021.

In thousand units 31 déc. 2021 31 déc. 2020 Variation
Active open-ended subscriptions 2.544 2 699 – 5,7 %


Digital Marketing: dynamic internal and external growth

Gross margin for Digital Marketing activities increased by 44.9% to €44.8 million.

Consulting (€26.2m; +38.1%) remained on course for strong organic growth, benefiting from the accelerating digitalization of the economy and the increase in corporate investment in data. The Converteo subsidiary has established itself as the benchmark in data and technology strategy consulting for marketing, digital and IT departments, with its team of over 250 consultants, specialists and experts.

Marketing Engineering offerings in France (€13.1m; +83.8%) have increased due to external growth with the consolidation of AWE (a BtoB digital marketing agency) and the assets of Pschhh (a strategic planning and creative agency) since the second half of 2020, as well as that of Reech (an Influence Marketing expert) since the third quarter of 2021. The scope effect represents a positive impact of + €6.4 million on the 2021 gross margin.

DÉKUPLE Ingénierie Marketing, the Brand MarTech agency launched last October, was created by combining the Group’s marketing services skills with those acquired through acquisitions or shareholdings in recent years. It helps to support the development of Marketing Engineering offerings by proposing a unique mix of proprietary solutions complemented by the best solutions on the market to help brands develop their business.

The Marketing Services offerings in Spain (€5.4 million; +13.9%) have intensified their commercial operations and recorded sustained growth in their gross margin compared with the previous year.

Marge brute – En M€ 2021 2020 Variation
Conseil – France 26,2 19,0 +38,1 %
Ingénierie Marketing – France 13,1 7,1 +83,8 %
Services Marketing – Espagne 5,4 4,8 +14,0 %
Marge brute Marketing Digital 44,8 30,9 +44,9 %


Insurance: strengthened fundamentals

The gross margin of the DÉKUPLE Assurance subsidiary, which specializes in affinity insurance brokerage through direct marketing, rose by 23.9% to €7.4 million. This increase is the result of the development of the policyholder portfolio and the diversification of the product mix in health insurance, the potential of which was strengthened in November 2021 by the acquisition 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 its “Ambition 2025” plan, the Group is pursuing its expansion strategy to become a European leader in data marketing. Its solid financial resources will enable it to support aggressive growth in digital marketing in order to strengthen its positions in this area, while continuing its commercial investments in its portfolio activities that generate recurring revenues.


Upcoming events

Annual results 2021, Monday, March 28, 2022 (before market hours)
Annual report 2021, Friday, April 15, 2022 (after market close)



[i] Revenues (which are determined on the basis of the French status of press commissionaire 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 balance sheet date, net of cancellations.

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

[iii] 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 revenues in the case of magazine and insurance activities.