Net sales



Robust revenue growth (+17.9%) driven by strong trends digital marketing company (+46.3%)

Paris, August 29, 2022 (8 a.m.) – The DEKUPLE Group, expert in cross-channel data marketing, today publishes its turnover for the first half of 2022.

Bertrand Laurioz, Chairman and CEO: “With net sales up +17.9%, the activity of the first half of 2022 shows a solid performance, reflecting in particular the expansion of our digital marketing activities and reflecting the good level of resilience of DÉKUPLE in the face of current economic uncertainties.

Our digital marketing activity, which represents 50.8% of consolidated revenue compared to 40.9% a year ago, confirms its strong growth with sales up by +46.3%, driven by the sustained development of the data marketing market and the growing attractiveness of our consulting and engineering services combining multiple areas of expertise to enable brands to improve their marketing and sales performance.

Our portfolio activities remain strong despite an unfavorable environment. Our Magazines activity, down -4% compared to a high comparison base, reflects the impact of lower commercial profitability, partially offset by the increase in prices for magazine press ranges. At the same time, the Insurance activity continued to roll out, with growth of +27%, driven by the integration of the strategic assets of the InsurTech QAPE – KOVERS since the end of 2021 and the expansion of our health insurance offer.

As DÉKUPLE celebrates its 50th anniversary this year, we are confident that we can continue to develop our activities, while offering effective solutions to our customers and further strengthening our teams of experts. Thanks to our capacity for innovation, as well as our external growth, by getting closer to innovative companies, we want to continue our diversification across the entire data-marketing sector.

With its unique positioning and solid fundamentals, DÉKUPLE is deploying its Ambition 2025 strategic plan to become a leader in data-marketing in Europe”.


The DÉKUPLE group achieves a turnover of 89.1 M€1 for the first half of 2022, up +17.9%. Group gross margin2 amounted to €72.0 million, up +12.6% year-on-year.

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

€m S1 2022 H1 2021 To change
Magazines 39.7 41.4 -4.0%
digital marketing 45.2 30.9 +46.3%
Insurance 4.1 3.2 +27.0%
Net sales 89.1 75.5 +17.9%

Breakdown of the change in net sales by region:

€m S1 2022 H1 2021 To change
France 80.1 67.8 +18.2%
Spain 8.9 7.7 +15.5%
Net sales 89.1 75.5 +17.9%

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

€m S1 2022 H1 2021 To change
Magazines 39.7 41.4 -4.0%
digital marketing 28.1 19.3 +45.8%
Insurance 4.1 3.2 +27.0%
Gross margin 72.0 63.9 +12.6%


The historic magazine subscription businesses record a volume of gross sales3 of €107.0 million, down -4.4%, with a gross margin of €39.7 million, down -4.0% due to a high comparison base – growth in sales of open-ended subscriptions by +9.8% in the first half of 2021 – and a deterioration in the economic environment in the spring of 2022. The increase in the prices of press publishers makes it possible to partially offset the drop in recruitment for new commercial campaigns, resulting in a contraction of -9.6% of the active portfolio of open-ended subscriptions at June 30, 2022 to 2,370,000 units.

In thousands of units June 30, 2022 June 30, 2021 To change
Open-ended active subscriptions 2,370 2,621 -9.6%


The Digital Marketing activity confirms its strong growth trends, with a gross margin of €28.1 million, up +45.8% compared to the first half of 2021 which had seen growth of +36.2%.

The gross margin for consulting services (€17.8 million) increased by +39.7%. This growth was built around a strong flow of business for Converteo, the French leader in data and digital strategy consulting, in areas that are constantly evolving and innovating. Despite the pressures of the recruitment market, the teams have continued to grow, with more than 300 people currently, contributing to the expansion of the four main practices (Data x Business Consulting, Analytics x Digital Products, Media x CRM, Technology x Data ).

Marketing Engineering services in France (€8.1 million) recorded an increase of +86.3% in their gross margin, including a scope effect of €3.3 million, linked to the integration of Reech, an expert in Influencer Marketing, since the third quarter of 2021. On a like-for-like basis, Marketing Engineering services recorded growth of +5.6%, in line with market trends.

The gross margin of marketing services in Spain (€2.2 million) was up +0.7%, in line with the level of activity of the previous year.

Gross margin (M€) S1 2022 H1 2021 To change
Consulting – France 17.8 12.7 +39.7%
Marketing Engineering – France 8.1 4.4 +86.3%
Marketing Services – Spain 2.2 2.2 +0.7%
digital marketing Gross margin 28.1 19.3 +45.8%


The gross margin of the subsidiary ADLP Assurances, which specializes in affinity insurance brokerage based on data marketing, amounted to €4.1 million, up 27%. This activity continues to develop its portfolio of policyholders. It has benefited from the strengthening of its product offer in the Complementary Health sector since the integration at the end of 2021 of the technological assets of InsurTech QAPE and the assets of KOVERS, the first mutual insurance company with the Ethical Health Insurance label.


Despite the uncertainty linked to the global economic context, the DÉKUPLE Group is continuing to deploy its Ambition 2025 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, Portugal and China, the Group employs more than 700 people.
DÉKUPLE is the brand of ADLPartner, a public limited company with a board of directors, listed on the regulated market of 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) minus the total amount of the 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.