IVO’s German play beats expectations
Invigor Group Limited’s (ASX:IVO) German acquisition, Condat, is doing better than expected – with both revenue and earnings above forecast.
The Berlin-based outfit has booked $2 million in revenue and $420,000 in earnings before tax for the first quarter of the year.
Both revenue and earnings are ahead of schedule – with IVO chairman Gary Cohen telling investors that the earnings figure was particularly pleasing.
“We are very pleased with the performance of Condat in the March quarter, being the first full quarter under Invigor’s ownership,” he said.
“The EBITDA margin of 21% is better than expected and provides further validation of Condat’s potential to Invigor in both the short and long term.”
The German company’s main product is its Smart Media Engine, which allows broadcasters to analyse ‘semantic content’ – and is being seen as a way to complement IVO’s existing big data analysis capabilities.
It also give IVO an entry into the lucrative European media market.
In further Condat news, it has emerged that the German media player has been selected to head up a consortium including the Agence France Presse and Deutsche Welle on a content verification system.
The project, dubbed the EU InVID project, will develop a platform capable of verifying the authenticity of emerging stories coming in over platforms such as YouTube, Twitter, or Instagram.
The end goal would be to integrate this capability into Condat’s smart media engine, which will be able to analyse and classify gathered media content for editing, curation, and playout.
About Invigor (ASX:IVO)
Invigor uses a complementary suite of big data products to source, aggregate, analyse and publish content for the benefit of businesses and consumers.
Its big data solutions helps retailers, brands, shopping centres and government bodies to identify and better understand competitors, consumers, markets and demographics while providing consumers with information that brings them to a decision about the best value-for-money purchase.
The big data industry as a whole is set to be worth $50 billion, and though some are frightened by its big brother-like power, it is here to stay.