View ValuationThis company listing is no longer activeThis company may still be operating, however this listing is no longer active. Find out why through their latest events.See Latest EventsBelieve 향후 성장Future 기준 점검 0/6현재 Believe 의 성장과 수익을 예측할 만큼 분석가의 범위가 충분하지 않습니다.핵심 정보n/a이익 성장률n/aEPS 성장률Entertainment 이익 성장17.4%매출 성장률n/a향후 자기자본이익률n/a애널리스트 커버리지None마지막 업데이트n/a최근 향후 성장 업데이트공시 • Nov 05Believe S.A. Provides Earnings Guidance for the Year 2022Believe S.A. provided earnings guidance for the year 2022. For the year 2022, the company expects an organic revenue growth in excess of 30%, reflecting resilient pet streaming and stabilization of extended growth as it has been the case since the month of June 22.모든 업데이트 보기Recent updates공시 • Apr 17TCMI Inc., EQT X, a fund managed by EQT AB (publ) and Denis Ladegaillerie proposed to acquire remaining 3.35% stake in Believe S.A. (ENXTPA:BLV) for €51.6 million.TCMI Inc., EQT X, a fund managed by EQT AB (publ) and Denis Ladegaillerie proposed to acquire remaining 3.35% stake in Believe S.A. (ENXTPA:BLV) for €51.6 million on April 15, 2025. A cash consideration valued at €15.3 per share will be paid. The board of Believe unanimously favorably welcomed Upbeat BidCo’s intention to file the Offer The transaction is subject to AMF clearance. The Board of Directors of Believe S.A. established an ad hoc Committee for the transaction. The Offer will be filed with the AMF today and, subject to the AMF’s clearance decision, is expected to be open during the second quarter of 2025. After the closing of the Offer, Upbeat BidCo will implement the Squeeze-Out, as the minority shareholders hold less than 10% of the capital and voting rights of Believe. The minority shareholders shall receive a compensation equal to the Offer price in the context of the Squeeze-Out. Olivier Péronne of FINEXSI, SA, Financial Advisory Arm acted as fairness opinion provider for Believe S.A.공시 • Dec 30Believe S.A. to Report First Half, 2025 Results on Jul 31, 2025Believe S.A. announced that they will report first half, 2025 results on Jul 31, 2025공시 • Aug 07Believe S.A. (ENXTPA:BLV) signed Share Transfer Agreement to acquire remaining 40% stake in Dogan Müzik Yapim Ve Ticaret A.S. from Dogan Sirketler Grubu Holding A.S. (IBSE:DOHOL) for €38.27 million.Believe S.A. (ENXTPA:BLV) signed Share Transfer Agreement to acquire remaining 40% stake in Dogan Müzik Yapim Ve Ticaret A.S. from Dogan Sirketler Grubu Holding A.S. (IBSE:DOHOL) for €38.27 million on August 6, 2024. The transaction is expected to be completed once all closing conditions, including approval by the Competition Authority, are fulfilled.Reported Earnings • Aug 05First half 2024 earnings releasedFirst half 2024 results: €0.07 loss per share. Revenue: €474.1m (up 14% from 1H 2023). Net loss: €7.57m (down €7.90m from profit in 1H 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.공시 • Aug 02Believe S.A. to Report Fiscal Year 2024 Results on Mar 13, 2025Believe S.A. announced that they will report fiscal year 2024 results After-Market on Mar 13, 2025공시 • Jul 09Believe S.A. (ENXTPA:BLV) acquired 25% stake in Global Records SRL.Believe S.A. (ENXTPA:BLV) acquired 25% stake in Global Records SRL on July 8, 2024. Believe S.A. (ENXTPA:BLV) completed the acquisition of 25% stake in Global Records SRL on July 8, 2024.New Risk • Jun 26New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company.공시 • Jun 25Believe SA Appoints Andrew Fisher as Non-Executive DirectorNon-Executive Director and Chair Andrew Fisher has been appointed as a non-executive director of Believe SA with effect from 21 June 2024. Andrew will also be a member of their Audit and CSR Committees.New Risk • Apr 09New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 9.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company.공시 • Apr 08Warner Music Drops Plans to Bid for France's BelieveWarner Music Group Corp. (NasdaqGS:WMG) will not submit an offer to acquire French digital music Believe S.A. (ENXTPA:BLV), the music label said in a statement on April 6, 2024. Warner Music had revealed plans last month to submit a bid of at least €17 ($18.42) per share for Believe, valuing it at €1.65 billion ($1.79 billion), topping an earlier takeover bid from a consortium. The consortium, made up of Believe's shareholders, had offered €15 per share for the company, pegging its value at around €1.52 billion, an offer that was backed by the company's board of directors. Believe said in a statement it will ‘review the situation with all interested parties (including the consortium) to determine next steps in relation to the possible evolution of the company’s control’.Reported Earnings • Mar 15Full year 2023 earnings released: €0.06 loss per share (vs €0.31 loss in FY 2022)Full year 2023 results: €0.06 loss per share (improved from €0.31 loss in FY 2022). Revenue: €880.3m (up 16% from FY 2022). Net loss: €5.48m (loss narrowed 82% from FY 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Entertainment industry in Germany.공시 • Mar 14Believe S.A., Annual General Meeting, Jun 26, 2024Believe S.A., Annual General Meeting, Jun 26, 2024.공시 • Mar 12Warner Music Discloses Interest in Buying French BelieveWarner Music Group Corp. (NasdaqGS:WMG) confirmed it has offered to acquire French record label Believe S.A. (ENXTPA:BLV) at a total equity valuation of no less than EUR 1.65 billion (USD 1.80bn). A potential transaction could value the target company at least EUR 17 per share, based on currently available public information, the suitor said in a statement on March 07, 2024. WMG’s statement came shortly after Believe last month announced that a consortium led by founder and CEO Denis Ladegaillerie, Swedish private equity firm EQT AB and the company's largest shareholder, US venture capital firm TCV, has agreed to acquire a majority stake in the business at EUR 15 per share and then launch a mandatory tender offer to buy the rest of the shares. The US firm noted further in the press release that as opposed to the purely financial transaction contemplated by the consortium, WMG “would provide Believe with strategic support and financial stability to help the development and growth of the Company, including by accelerating its expansion into new geographies. In addition, WMG envisages financial terms that would be more attractive than those announced by the consortium”.공시 • Feb 13Denis Ladegaillerie, EQT X a fund managed by EQT AB (publ) (OM:EQT) and TCMI Inc. agreed to acquire 71.92% stake in Believe S.A. (ENXTPA:BLV) from Xange Private Equity, S.A., Ventech Capital III a fund managed by Ventech SA, Tcv Luxco Bd S.À R.L. and Denis Ladegaillerie for €1.04 billion.Denis Ladegaillerie, EQT X a fund managed by EQT AB (publ) (OM:EQT) and TCMI Inc. agreed to acquire 71.92% stake in Believe S.A. (ENXTPA:BLV) from Xange Private Equity, S.A., Ventech Capital III a fund managed by Ventech SA, Tcv Luxco Bd S.À R.L. and Denis Ladegaillerie for €1.04 billion on February 11, 2024. BidCo would acquire from TCV Luxco BD S.à r.l., XAnge and Ventech, historical shareholders of Believe, the shares they own in Believe’s capital, representing respectively 41.14%, 6.29% and 12.03% of the capital and 42.85%, 3.93%, and 15.05% of the voting rights. In addition, it is contemplated that Denis Ladegaillerie, the founder, would contribute a portion of his Company shares to BidCo (representing 11.17% of the share capital) and sell the remaining portion (representing 1.29% of the share capital) to BidCo, representing in the aggregate 12.46% of the share capital and 15.59% of the voting rights of the Company. The Consortium has also obtained from other shareholders of the Company undertakings to tender their shares in the Offer. These acquisitions would be completed following the receipt of required regulatory approvals, the issuance of a fairness opinion from the independent expert confirming the fairness of the take private offer and the issuance by the Company’s board of directors (the “Board”) of its recommendation with respect to the Offer, following consultation of the Company’s works council. Following these acquisitions, the Consortium would file a mandatory tender offer, at a price of 15 euros in cash, for the remaining shares of Believe outstanding at the time and, if the legal conditions are met at the end of the offer, will request the implementation of a squeeze-out procedure. On February 11, 2024, the Board of Directors of Believe unanimously welcomed the proposed transaction, without prejudice to the reasoned opinion to be issued by the Board following the submission of the report of the independent expert. the Board of Directors of Believe has appointed Ledouble, represented by its partners Agnès Piniot and Romain Delafont, to act as the independent expert and establish a report on the financial conditions of the Offer, Believe has appointed Citigroup Global Markets Europe AG and Gide Loyrette Nouel as financial and legal advisers to assist the Company and the ad-hoc committee of the Board of Directors in their evaluation of the Offer.공시 • Feb 09Believe Further Expands in Japan, Unveils New Imprint Dedicated to Championing Japanese Hip-hop with Y=ellow Bucks, Red Eye, and Issei Uno FifthBelieve announced the launch of 'PLAYCODE', a new imprint dedicated to championing the growing Japanese hip-hop music scene, including partnering with some of Japan's leading acts: Y=ellow Bucks, Red Eye, and Issei Uno Fifth. This launch marks a new step in believe believe's expansion in Japan, less than a year since it began operating in the country, in October 2023. As part of believe Japan's Artist Services offering, 'PLAYCODE' aims at nurturing the booming local hip-hop music scene. It will combine believe's unique digital artist development capacities - strategic, marketing and financial support -, unrivalled local hip-hop expertise, and long-term partnerships with key digital players to accompany its artists at all stages of their careers reach wider audiences and grow their careers locally and internationally. With +450K monthly listeners on Spotify and 66,7K followers on YouTube, ¥ellow Bucks is one of the most influential hip-hop artists in Japan, whose breakthrough hit ‘YESSIR’ cumulates +36M views on YouTube and +25M listens on Spotify to date. After Red Eye winning the 16th High School Rap Championship in 2019, Red Eye has become a force to be reckoned within the hip-hop music scene, cumulating over 500K followers across all social platforms, with his ‘POCKET’ series reaching +8 million streams. Issei Uno Fifth’s massive hit ‘SLIDE’ gained popularity on TikTok, reaching +1.6M streams on Spotify and leading him to be one of the winners of TikTok’s Spotlight Programme. After creating a series of hip-hop focused imprints in Thailand (bYOND), Italy (MAST) and France (Avant-Garde, AllPoints and Morning Glory), the launch of ‘PLAYCODE’ confirms Believe’s long-lasting commitment to nurture and drive hip-hop independent artists to their utmost level all around the world, all the while remaining in full control of their creative freedom and careers.Buying Opportunity • Jan 05Now 21% undervaluedOver the last 90 days, the stock is up 23%. The fair value is estimated to be €12.47, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last year. Earnings per share has grown by 8.3%.New Risk • Oct 26New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 8.7% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company.Reported Earnings • Aug 07First half 2023 earnings releasedFirst half 2023 results: Revenue: €415.4m (up 18% from 1H 2022). Net income: €334.0k (up €8.80m from 1H 2022). Profit margin: 0.1% (up from net loss in 1H 2022). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Entertainment industry in Germany.Reported Earnings • Mar 19Full year 2022 earnings released: €0.31 loss per share (vs €0.34 loss in FY 2021)Full year 2022 results: €0.31 loss per share (improved from €0.34 loss in FY 2021). Revenue: €760.8m (up 32% from FY 2021). Net loss: €29.8m (flat on FY 2021). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Entertainment industry in Germany.공시 • Feb 15Believe S.A., Annual General Meeting, Jun 16, 2023Believe S.A., Annual General Meeting, Jun 16, 2023.Board Change • Nov 16High number of new and inexperienced directorsThere are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. Independent Director Kathleen O’Riordan is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.공시 • Nov 05Believe S.A. Provides Earnings Guidance for the Year 2022Believe S.A. provided earnings guidance for the year 2022. For the year 2022, the company expects an organic revenue growth in excess of 30%, reflecting resilient pet streaming and stabilization of extended growth as it has been the case since the month of June 22.공시 • Aug 04+ 2 more updatesBelieve S.A. to Report Q2, 2023 Results on Aug 02, 2023Believe S.A. announced that they will report Q2, 2023 results on Aug 02, 2023공시 • Apr 13Believe Names Alex Kennedy as Managing Director for the UKBelieve announced the appointment of Alex Kennedy as Managing Director for the UK. Reporting to Denis Ladegaillerie, Founder and CEO of Believe, Kennedy will lead the three business lines that Believe operates in the UK: Premium Solutions (including Label and Artist Solutions and Artist Services) and Automated Solutions (TuneCore), with a focus on finetuning Believe’s M&A strategy in the region. In this role, Kennedy will be responsible for defining the best strategies to accelerate growth, putting Believe’s unparalleled digital know-how and expertise at the service of UK artists and labels and continue to strengthen high quality relations with DSPs. Past key roles include Chief Commercial Officer at D2C platform Music Glue, Head of Commercial Development at Sky Tickets, Head of Music Licensing at Sky TV, Head of Publishing at Omnifone; as well as Founder and C.O.O of Retail Tech business Givvit and managing the music artist Doc Brown (Ben Bailey Smith).공시 • Jan 06Believe Société anonyme (ENXTPA:BLV) acquired 51% stake in Jo&Co.Believe Société anonyme (ENXTPA:BLV) acquired 51% stake in Jo&Co on January 4, 2022. Jo&Co's Founder, Sébastien Saussez, will continue managing the label. Believe Société anonyme (ENXTPA:BLV) completed the acquisition of 51% stake in Jo&Co on January 4, 2022.이익 및 매출 성장 예측DB:8T6 - 애널리스트 향후 추정치 및 과거 재무 데이터 (EUR Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/2024989-3-2122N/A9/30/2024964-8-2124N/A6/30/2024939-13-2027N/A3/31/2024910-9-2920N/A12/31/2023880-5-3813N/A9/30/2023852-13-2319N/A6/30/2023824-21-825N/A3/31/2023792-252049N/A12/31/2022761-304774N/A9/30/2022715-242955N/A6/30/2022669-181136N/A3/31/2022629-21-1511N/A12/31/2021577-30-34-8N/A9/30/2021541-28-44-15N/A6/30/2021506-27-54-22N/A3/31/2021467-29-47-12N/A12/31/2020441-27-39-4N/A12/31/20193955832N/A12/31/201823822129N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: 8T6 의 예상 수익 증가율이 절약률(1.4%)보다 높은지 판단하기에는 데이터가 부족합니다.수익 vs 시장: 8T6 의 수익이 German 시장보다 빠르게 성장할 것으로 예상되는지 판단하기에는 데이터가 부족합니다.고성장 수익: 8T6 의 수익이 향후 3년 동안 상당히 증가할 것으로 예상되는지 판단하기에는 데이터가 부족합니다.수익 대 시장: 8T6 의 수익이 German 시장보다 빠르게 증가할 것으로 예상되는지 판단하기에는 데이터가 부족합니다.고성장 매출: 8T6 의 수익이 연간 20%보다 빠르게 증가할 것으로 예상되는지 판단하기에는 데이터가 부족합니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: 8T6의 자본 수익률이 3년 후 높을 것으로 예상되는지 판단하기에 데이터가 부족합니다.성장 기업 찾아보기7D1Y7D1Y7D1YMedia 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2025/08/06 14:54종가2025/07/22 00:00수익2024/12/31연간 수익2024/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Believe S.A.는 5명의 분석가가 다루고 있습니다. 이 중 0명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Christophe CherblancBernsteinNicolas LangletBNP ParibasLisa YangGoldman Sachs2명의 분석가 더 보기
공시 • Nov 05Believe S.A. Provides Earnings Guidance for the Year 2022Believe S.A. provided earnings guidance for the year 2022. For the year 2022, the company expects an organic revenue growth in excess of 30%, reflecting resilient pet streaming and stabilization of extended growth as it has been the case since the month of June 22.
공시 • Apr 17TCMI Inc., EQT X, a fund managed by EQT AB (publ) and Denis Ladegaillerie proposed to acquire remaining 3.35% stake in Believe S.A. (ENXTPA:BLV) for €51.6 million.TCMI Inc., EQT X, a fund managed by EQT AB (publ) and Denis Ladegaillerie proposed to acquire remaining 3.35% stake in Believe S.A. (ENXTPA:BLV) for €51.6 million on April 15, 2025. A cash consideration valued at €15.3 per share will be paid. The board of Believe unanimously favorably welcomed Upbeat BidCo’s intention to file the Offer The transaction is subject to AMF clearance. The Board of Directors of Believe S.A. established an ad hoc Committee for the transaction. The Offer will be filed with the AMF today and, subject to the AMF’s clearance decision, is expected to be open during the second quarter of 2025. After the closing of the Offer, Upbeat BidCo will implement the Squeeze-Out, as the minority shareholders hold less than 10% of the capital and voting rights of Believe. The minority shareholders shall receive a compensation equal to the Offer price in the context of the Squeeze-Out. Olivier Péronne of FINEXSI, SA, Financial Advisory Arm acted as fairness opinion provider for Believe S.A.
공시 • Dec 30Believe S.A. to Report First Half, 2025 Results on Jul 31, 2025Believe S.A. announced that they will report first half, 2025 results on Jul 31, 2025
공시 • Aug 07Believe S.A. (ENXTPA:BLV) signed Share Transfer Agreement to acquire remaining 40% stake in Dogan Müzik Yapim Ve Ticaret A.S. from Dogan Sirketler Grubu Holding A.S. (IBSE:DOHOL) for €38.27 million.Believe S.A. (ENXTPA:BLV) signed Share Transfer Agreement to acquire remaining 40% stake in Dogan Müzik Yapim Ve Ticaret A.S. from Dogan Sirketler Grubu Holding A.S. (IBSE:DOHOL) for €38.27 million on August 6, 2024. The transaction is expected to be completed once all closing conditions, including approval by the Competition Authority, are fulfilled.
Reported Earnings • Aug 05First half 2024 earnings releasedFirst half 2024 results: €0.07 loss per share. Revenue: €474.1m (up 14% from 1H 2023). Net loss: €7.57m (down €7.90m from profit in 1H 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.
공시 • Aug 02Believe S.A. to Report Fiscal Year 2024 Results on Mar 13, 2025Believe S.A. announced that they will report fiscal year 2024 results After-Market on Mar 13, 2025
공시 • Jul 09Believe S.A. (ENXTPA:BLV) acquired 25% stake in Global Records SRL.Believe S.A. (ENXTPA:BLV) acquired 25% stake in Global Records SRL on July 8, 2024. Believe S.A. (ENXTPA:BLV) completed the acquisition of 25% stake in Global Records SRL on July 8, 2024.
New Risk • Jun 26New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company.
공시 • Jun 25Believe SA Appoints Andrew Fisher as Non-Executive DirectorNon-Executive Director and Chair Andrew Fisher has been appointed as a non-executive director of Believe SA with effect from 21 June 2024. Andrew will also be a member of their Audit and CSR Committees.
New Risk • Apr 09New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 9.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company.
공시 • Apr 08Warner Music Drops Plans to Bid for France's BelieveWarner Music Group Corp. (NasdaqGS:WMG) will not submit an offer to acquire French digital music Believe S.A. (ENXTPA:BLV), the music label said in a statement on April 6, 2024. Warner Music had revealed plans last month to submit a bid of at least €17 ($18.42) per share for Believe, valuing it at €1.65 billion ($1.79 billion), topping an earlier takeover bid from a consortium. The consortium, made up of Believe's shareholders, had offered €15 per share for the company, pegging its value at around €1.52 billion, an offer that was backed by the company's board of directors. Believe said in a statement it will ‘review the situation with all interested parties (including the consortium) to determine next steps in relation to the possible evolution of the company’s control’.
Reported Earnings • Mar 15Full year 2023 earnings released: €0.06 loss per share (vs €0.31 loss in FY 2022)Full year 2023 results: €0.06 loss per share (improved from €0.31 loss in FY 2022). Revenue: €880.3m (up 16% from FY 2022). Net loss: €5.48m (loss narrowed 82% from FY 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Entertainment industry in Germany.
공시 • Mar 14Believe S.A., Annual General Meeting, Jun 26, 2024Believe S.A., Annual General Meeting, Jun 26, 2024.
공시 • Mar 12Warner Music Discloses Interest in Buying French BelieveWarner Music Group Corp. (NasdaqGS:WMG) confirmed it has offered to acquire French record label Believe S.A. (ENXTPA:BLV) at a total equity valuation of no less than EUR 1.65 billion (USD 1.80bn). A potential transaction could value the target company at least EUR 17 per share, based on currently available public information, the suitor said in a statement on March 07, 2024. WMG’s statement came shortly after Believe last month announced that a consortium led by founder and CEO Denis Ladegaillerie, Swedish private equity firm EQT AB and the company's largest shareholder, US venture capital firm TCV, has agreed to acquire a majority stake in the business at EUR 15 per share and then launch a mandatory tender offer to buy the rest of the shares. The US firm noted further in the press release that as opposed to the purely financial transaction contemplated by the consortium, WMG “would provide Believe with strategic support and financial stability to help the development and growth of the Company, including by accelerating its expansion into new geographies. In addition, WMG envisages financial terms that would be more attractive than those announced by the consortium”.
공시 • Feb 13Denis Ladegaillerie, EQT X a fund managed by EQT AB (publ) (OM:EQT) and TCMI Inc. agreed to acquire 71.92% stake in Believe S.A. (ENXTPA:BLV) from Xange Private Equity, S.A., Ventech Capital III a fund managed by Ventech SA, Tcv Luxco Bd S.À R.L. and Denis Ladegaillerie for €1.04 billion.Denis Ladegaillerie, EQT X a fund managed by EQT AB (publ) (OM:EQT) and TCMI Inc. agreed to acquire 71.92% stake in Believe S.A. (ENXTPA:BLV) from Xange Private Equity, S.A., Ventech Capital III a fund managed by Ventech SA, Tcv Luxco Bd S.À R.L. and Denis Ladegaillerie for €1.04 billion on February 11, 2024. BidCo would acquire from TCV Luxco BD S.à r.l., XAnge and Ventech, historical shareholders of Believe, the shares they own in Believe’s capital, representing respectively 41.14%, 6.29% and 12.03% of the capital and 42.85%, 3.93%, and 15.05% of the voting rights. In addition, it is contemplated that Denis Ladegaillerie, the founder, would contribute a portion of his Company shares to BidCo (representing 11.17% of the share capital) and sell the remaining portion (representing 1.29% of the share capital) to BidCo, representing in the aggregate 12.46% of the share capital and 15.59% of the voting rights of the Company. The Consortium has also obtained from other shareholders of the Company undertakings to tender their shares in the Offer. These acquisitions would be completed following the receipt of required regulatory approvals, the issuance of a fairness opinion from the independent expert confirming the fairness of the take private offer and the issuance by the Company’s board of directors (the “Board”) of its recommendation with respect to the Offer, following consultation of the Company’s works council. Following these acquisitions, the Consortium would file a mandatory tender offer, at a price of 15 euros in cash, for the remaining shares of Believe outstanding at the time and, if the legal conditions are met at the end of the offer, will request the implementation of a squeeze-out procedure. On February 11, 2024, the Board of Directors of Believe unanimously welcomed the proposed transaction, without prejudice to the reasoned opinion to be issued by the Board following the submission of the report of the independent expert. the Board of Directors of Believe has appointed Ledouble, represented by its partners Agnès Piniot and Romain Delafont, to act as the independent expert and establish a report on the financial conditions of the Offer, Believe has appointed Citigroup Global Markets Europe AG and Gide Loyrette Nouel as financial and legal advisers to assist the Company and the ad-hoc committee of the Board of Directors in their evaluation of the Offer.
공시 • Feb 09Believe Further Expands in Japan, Unveils New Imprint Dedicated to Championing Japanese Hip-hop with Y=ellow Bucks, Red Eye, and Issei Uno FifthBelieve announced the launch of 'PLAYCODE', a new imprint dedicated to championing the growing Japanese hip-hop music scene, including partnering with some of Japan's leading acts: Y=ellow Bucks, Red Eye, and Issei Uno Fifth. This launch marks a new step in believe believe's expansion in Japan, less than a year since it began operating in the country, in October 2023. As part of believe Japan's Artist Services offering, 'PLAYCODE' aims at nurturing the booming local hip-hop music scene. It will combine believe's unique digital artist development capacities - strategic, marketing and financial support -, unrivalled local hip-hop expertise, and long-term partnerships with key digital players to accompany its artists at all stages of their careers reach wider audiences and grow their careers locally and internationally. With +450K monthly listeners on Spotify and 66,7K followers on YouTube, ¥ellow Bucks is one of the most influential hip-hop artists in Japan, whose breakthrough hit ‘YESSIR’ cumulates +36M views on YouTube and +25M listens on Spotify to date. After Red Eye winning the 16th High School Rap Championship in 2019, Red Eye has become a force to be reckoned within the hip-hop music scene, cumulating over 500K followers across all social platforms, with his ‘POCKET’ series reaching +8 million streams. Issei Uno Fifth’s massive hit ‘SLIDE’ gained popularity on TikTok, reaching +1.6M streams on Spotify and leading him to be one of the winners of TikTok’s Spotlight Programme. After creating a series of hip-hop focused imprints in Thailand (bYOND), Italy (MAST) and France (Avant-Garde, AllPoints and Morning Glory), the launch of ‘PLAYCODE’ confirms Believe’s long-lasting commitment to nurture and drive hip-hop independent artists to their utmost level all around the world, all the while remaining in full control of their creative freedom and careers.
Buying Opportunity • Jan 05Now 21% undervaluedOver the last 90 days, the stock is up 23%. The fair value is estimated to be €12.47, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last year. Earnings per share has grown by 8.3%.
New Risk • Oct 26New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 8.7% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company.
Reported Earnings • Aug 07First half 2023 earnings releasedFirst half 2023 results: Revenue: €415.4m (up 18% from 1H 2022). Net income: €334.0k (up €8.80m from 1H 2022). Profit margin: 0.1% (up from net loss in 1H 2022). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Entertainment industry in Germany.
Reported Earnings • Mar 19Full year 2022 earnings released: €0.31 loss per share (vs €0.34 loss in FY 2021)Full year 2022 results: €0.31 loss per share (improved from €0.34 loss in FY 2021). Revenue: €760.8m (up 32% from FY 2021). Net loss: €29.8m (flat on FY 2021). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Entertainment industry in Germany.
공시 • Feb 15Believe S.A., Annual General Meeting, Jun 16, 2023Believe S.A., Annual General Meeting, Jun 16, 2023.
Board Change • Nov 16High number of new and inexperienced directorsThere are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. Independent Director Kathleen O’Riordan is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.
공시 • Nov 05Believe S.A. Provides Earnings Guidance for the Year 2022Believe S.A. provided earnings guidance for the year 2022. For the year 2022, the company expects an organic revenue growth in excess of 30%, reflecting resilient pet streaming and stabilization of extended growth as it has been the case since the month of June 22.
공시 • Aug 04+ 2 more updatesBelieve S.A. to Report Q2, 2023 Results on Aug 02, 2023Believe S.A. announced that they will report Q2, 2023 results on Aug 02, 2023
공시 • Apr 13Believe Names Alex Kennedy as Managing Director for the UKBelieve announced the appointment of Alex Kennedy as Managing Director for the UK. Reporting to Denis Ladegaillerie, Founder and CEO of Believe, Kennedy will lead the three business lines that Believe operates in the UK: Premium Solutions (including Label and Artist Solutions and Artist Services) and Automated Solutions (TuneCore), with a focus on finetuning Believe’s M&A strategy in the region. In this role, Kennedy will be responsible for defining the best strategies to accelerate growth, putting Believe’s unparalleled digital know-how and expertise at the service of UK artists and labels and continue to strengthen high quality relations with DSPs. Past key roles include Chief Commercial Officer at D2C platform Music Glue, Head of Commercial Development at Sky Tickets, Head of Music Licensing at Sky TV, Head of Publishing at Omnifone; as well as Founder and C.O.O of Retail Tech business Givvit and managing the music artist Doc Brown (Ben Bailey Smith).
공시 • Jan 06Believe Société anonyme (ENXTPA:BLV) acquired 51% stake in Jo&Co.Believe Société anonyme (ENXTPA:BLV) acquired 51% stake in Jo&Co on January 4, 2022. Jo&Co's Founder, Sébastien Saussez, will continue managing the label. Believe Société anonyme (ENXTPA:BLV) completed the acquisition of 51% stake in Jo&Co on January 4, 2022.