Real Estate Portal: 2022, a new era for publishes its annual results: they are marked by exceptional elements with an operating profit growth of +9.6%.

2021, the year of external growth in proptech

The ACHETER-LOUER.FR group, which specializes in digital marketing and data solutions for real estate and housing, increased its operating income by almost 10% to 3.6 million euros in 2021 on a stable turnover of 2.8 million euros compared to with last year. . During the year, the Group accelerated its external growth strategy by establishing an investment subsidiary, ALFR Opportunity Invest, and achieved 3 PropTech Startup Stock Investments and real estate companies (Kize, Enchères Immo and Adomos).

During the 2021 financial year, the Group stepped up its investments to support its development, thus operating expenses increased by 37% to 1.3 million euros (compared to 1 million euros last year). These expenses mainly relate to data collection, strengthening the sales team, hiring (engineers, developers and data scientists), as well as expenses related to innovation projects, and should contribute to the growth of the Group’s revenue in 2022. EBITDA** remains positive at EUR 0.3 million in 2021, compared to EUR 1.1 million in 2020.

The operating result, for its part, is -4.6 million euros after accounting for the exceptional amortization of intangible assets of 3.2 million euros (Customer dossier on real estate service contracts). Restated for this one-time accounting entry without impact to the Group’s cash flow, operating income was -€1.4 million in 2021 compared to -€0.5 million in 2020 and reflects an increase in operating expenses. events.

Similarly, the recognition of a temporary financial provision of EUR 13.7 million associated with the compensation mechanism of the financial contract signed with World Tech Financing LTD reduces the financial result and therefore the net result of the Group. Indeed, this agreement provides for compensation in the event that the market price of a share falls below the face value of the share. Since the stock market trends in 2021 were unfavorable for the price of, the attraction of tranches of convertible bonds was accompanied by compensation. The group carried out a reverse stock split in January 2022 and is planning a capital cut to offset this financial loss. These financing costs were not subject to cash outflows for the Group and were fully financed by securities.

Thus, adjusted for exceptional expenses, the Group’s net income is -1.3 million euros compared to a loss of 0.5 million euros last year.

Strengthened financial structure in 2021

During the year, the Group strengthened its capital and cash by issuing bonds convertible or exchangeable for new or existing shares (OCEANE) pursuant to a financing agreement with World Tech Financing LTD. [2] . 1st tranche activation [3] in June 2021 resulted in a payment of €6 million to the Group.

This issue enabled the Group to fund its development and targeted investments in start-ups in the PropTech world. At the end of December 2021, the Group’s free assets amounted to EUR 2 million. In addition, the financial structure remains healthy, with net debt of €2.7m and equity of €8.8m.

A wide and complete range of solutions dedicated to real estate and housing

In a changing real estate market,, after a year of structuring 2021, now offers a wide and complete range of real estate and housing solutions that revolve around 3 areas of activity: Digital-Data (73% of turnover), Press (15% of turnover) and BtoB Media (12% of turnover). With financial support from World Tech Financing LTD, the Group has taken on a new strategic direction in 2021, which will allow it to expect growth and significant value creation from 2022.

The Group is pursuing this new strategy to enhance the synergy of digital, data and business through ALFR Opportunity Invest, a wholly owned subsidiary of an investment company that is acquiring targeted real estate FinTech and PropTech assets.

investments made in several PropTech players such as Kize, Cocoon-Immo and Enchères Immoenabled the Group to expand its range of digital services and data operations. For each of these participants, the group provides great commercial support in developing their turnover, while at the same time increasing their own income as a distributor of these innovative solutions.

During the exerciseThe group also acquired a stake in Adomos , a specialist in the distribution of tax-free real estate products, offering interesting cross-synergies between new and old real estate sectors. In addition, Adomos has just made a technological shift to become a Fintech for real estate investment and has announced that it is in the phase of launching a real estate offering in the form of real estate NFTs in partnership with two blockchain startups. sector.

Possibly new strategic investors

As a result of this new organization, now has new sources of growth, on the one hand through the sale of its solutions, as well as those of PropTechs in which the Group has invested, and on the other hand, thanks to a very strong potential to evaluate its investments in these startups, which should be realized within the next two years.

To support this new strategy, the Group is studyingpossible entry into the capital of strategic investors, such as major players in the ecosystem, which will allow for the consolidation of less dilutive and more structuring equity holdings over the long term. In addition, he remains attentive to any external growth opportunity, especially in more mature companies, in order to optimize the profitability of these operations in the short term.

Capitalizing on a still buoyant real estate market and strong growth drivers, will continue its blended growth strategy and reaffirm its commitment to becoming a leader in real estate and housing digital solutions and data.

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