Net sales

DÉKUPLE: First-quarter 2022 revenue



First quarter revenue up 22% to €45.9 million
Strong growth in digital marketing activity: +53%

Paris, May 30, 2022 (8 a.m.) – The DEKUPLE Group, an expert in cross-channel data marketing, today publishes its turnover for the first quarter of 2022.

Bertrand Laurioz, Chairman and Chief Executive Officer: “After a year of strong growth (+18%) and profitability in 2021, the DÉKUPLE Group is continuing its robust development, with sales up 22% in the first quarter of 2022.

Growth is mainly driven by the expansion of the Group’s Digital Marketing services, which are up 53% compared to the first quarter of 2021 and now represent half of its total revenue. Supported by the strong organic growth of our consulting activity and the extension of the scope of our data marketing engineering solutions, this sustained trend should continue, underlining the success of the efforts made by DÉKUPLE to support the development of its products and services. with very high potential.

The portfolio business is strong and continues to be fundamentally managed effectively. In the Magazine business, the contraction in returns on commercial investments was offset by the rise in press publishers’ prices. In the Insurance business, growth accelerated with revenue up 27%, supported by the extension of the product range and the integration of the strategic assets of the InsurTech QAPE.

Our performance levels this quarter show the resilience of DÉKUPLE in the face of current economic uncertainties, and we are confident that we can achieve another year of strong growth in 2022.

In line with our Ambition 2025 strategic plan, and thanks to the ongoing commitment and dedication of our teams, we are pursuing our innovation and investment strategy, through organic or external growth, to make DÉKUPLE a European leader in data. marketing”.


The DÉKUPLE Group achieved solid growth in its activity in the first quarter of 2022, with a turnover1 €45.9 million, up 21.6%. Group gross margin2 amounted to €36.7 million, up 14.1% over one year.

Breakdown of the evolution of the Group’s activity net sales by job:

€m Q1 2022 Q1 2021 To change
Magazines 20.7 21.0 -1.7%
digital marketing 23.2 15.1 +53.3%
Insurance 2.1 1.6 +26.7%
Net sales 45.9 37.8 +21.6%

Breakdown of the change in net sales by region:

€m Q1 2022 Q1 2021 To change
France 40.8 33.9 +20.1%
Spain 5.2 3.8 +34.8%
Net sales 45.9 37.8 +21.6%

Breakdown of the evolution of the Group’s activity Gross margin by job:

€m Q1 2022 Q1 2021 To change
Magazines 20.7 21.0 -1.7%
digital marketing 13.9 9.5 +47.2%
Insurance 2.1 1.6 +26.7%
Gross margin 36.7 32.1 +14.1%


The gross margin of the Magazine business was broadly stable compared to a first quarter of 2021 which had recorded a good performance (+7.7% growth in sales of open-ended subscriptions), while the volume of gross sales3 amounted to €54.8 million, down 3.3%. The increase in publisher prices partially offsets the drop in the level of recruitment for new commercial campaigns, resulting in a contraction of -8% in the active portfolio of open-ended subscriptions at March 31, 2022 to 2,434,000 units.

In thousands of units March 31, 2022 March 31, 2021 To change
Open-ended active subscriptions 2,434 2,646 -8.0%


The Digital Marketing activity continued its strong growth momentum, with a gross margin of €13.9 million, up 47% compared to the first quarter of 2021.

The gross margin for Consulting services (€9.2 million) was up 43%, reflecting the remarkable success of Converteo’s data expertise and digital strategy, its teams continuing to be strongly ramped up, while streamlining its organization, to support the acceleration of the development of its three core businesses (Data x Business Consulting, Analytics x Digital Products, Media x CRM).

Marketing Engineering services in France (€3.7 million) recorded a 75% increase in their gross margin, including a scope effect of €1.5 million, linked to the integration of Reech, a marketing expert in Influence, since the third quarter of 2021. -at constant scope, activity is generally stable, the end of the health crisis and the uncertain economic environment not yet allowing a return to growth in commercial development.

The gross margin of marketing services in Spain (€1.1 million) was up 13% in line with the increase in commercial operations.

Gross margin (M€) Q1 2022 Q1 2021 To change
Consulting – France 9.2 6.4 +43.2%
Marketing Engineering – France 3.7 2.1 +75.0%
Marketing Services – Spain 1.1 1.0 +13.3%
digital marketing
Gross margin
13.9 9.5 +47.2%


The gross margin of the subsidiary ADLP Assurances, which specializes in affinity insurance brokerage through direct marketing, amounted to €2.1 million, up 27%. This growth is supported by the development of the portfolio of policyholders and the diversification of the product mix, particularly in the complementary health sector, with the integration since the end of 2021 of the technological assets of QAPE, an InsurTech company allowing the design, distribution and deployment of innovative solutions for health insurance, as well as various assets of its complementary health branch KOVERS, labeled “Assurance Santé Ethique”.


In line with Ambition 2025, the DÉKUPLE Group is continuing to deploy its expansion strategy aimed at becoming a European leader in data marketing. With its solid financial resources, the Group is effectively positioned to support an aggressive growth in digital marketing with a view to strengthening its positions in this sector, while continuing its commercial investments in its portfolio activities generating recurring revenues.

Founded in 1972, DÉKUPLE is a major player in cross-channel data marketing. The Group designs, markets and implements acquisition, loyalty and customer relationship management services for its own account or for its partners and customers on all distribution channels. Its expertise enables it to support brands in their marketing needs, and to create, on its behalf, portfolios that generate recurring revenue. The Group works with two-thirds of CAC 40 companies and many ETIs.
DÉKUPLE achieved a turnover of €164.3 million in 2021. Present in France, Spain and Portugal, the Group employs more than 700 people.
DÉKUPLE is listed on the regulated market Euronext Paris – Compartment C.
ISIN Code: FR0000062978 – DKUPL


Investor relations and financial information
tel: +33 (0)1 41 58 72 03 – [email protected]

Cyril Combe – tel: +33 (0)1 53 65 68 68 – [email protected]

1 Turnover (determined according to the French professional status of subscription sales) only includes the amount of remuneration paid by magazine publishers; for subscription sales, net revenue therefore corresponds to a gross margin, deducting the cost of magazines sold from the amount of sales recorded. For acquisition and management commissions related to the sale of insurance contracts, revenue includes current and future commissions issued, acquired on the accounting closing date, net of cancellations.
2 For the digital marketing activity, the gross margin represents the total amount of net sales (total of invoices issued: fees, commissions and purchases re-invoiced to customers) less the total amount of costs of external purchases made on behalf of customers. It is equal to the turnover of the magazine and insurance businesses.

3 Gross sales volume represents the value of subscriptions and other products sold. It is equal to net insurance revenue.