Annual Report 2020
Together online

In 2020, the global pandemic posed significant challenges to both societies and businesses. Despite the times of uncertainty, we at Avidly carried out a determined strategy and development work. We have now defined the foundation on which we want to build our business. In December 2020, we announced our new strategy, which will give us a clear direction and milestones for the coming years. The brand, launched in March 2021, supports our goals.

We are on a path of growth: in 2020, our revenue grew by 13 percent and during the second half of the year by 16 percent. In these exceptional circumstances, these results were satisfactory. The full-year operating loss of 0,1 million euros was significantly decreased from the 2,4 million euros in the previous year. I am very pleased that despite the challenging situation in markets, we reached a positive operating result of 0,3 million euros in the second half of 2020. That is a significant improvement compared to the loss of 2,1 million euros in the same period in 2019. We have now reached the turning point, and it’s good to continue from here.

Profitable growth

We have good starting points for 2021: as a marketing technology service company, we respond to global megatrends and the growing demand for digital marketing. With our services we help our customers in digital transformation and to meet the requirements of the experience economy. We combine creativity, technology and data to support our customers sustainable business growth.

We have defined clear strategic goals for the period 2021-2025: profitable growth, thought leadership, being the best place to work and the most loyal customers. To achieve these, we have action plans that we have already started to implement. All this has a significant impact on value of the company in the long run.

An essential part of our strategy is profitable international growth. Our goal is a revenue of more than 50 million euros and EBITA of at least 10% in 2025. We believe we can achieve this goal by taking advantage of the opportunities of market and service expansion and the overall growth of the martech market.

Long-term shareholder value

We aim to increase the long-term shareholder value. For the time being, we don’t distribute  dividends, instead we will focus on growth. We believe that focusing on growing our business will benefit our owners and other stakeholders in the long run.

In 2021, the global economy is expected to gradually recover from the sharp recession experienced in 2020. However, predicting business is difficult and general economic activity affects to Avidly's operations. We will do everything we can to ensure both growth and a positive business result in 2021.

The long-term outlook for our business is good. With our unique expertise we’re able to help our customers to improve their marketing technology and above all, the impact it creates.

I would like to warmly thank the whole Avidly’s staff, our customers and partners for their resilience and excellent cooperation in the challenging conditions of 2020. I believe that together we will achieve a lot also in the future.

Jesse Maula
CEO