Criteo returns to growth for the first time in three years.
The French group focused on online advertising saw its turnover increase by 9% (8% at equivalent exchange rate) in 2021, to 2.254 billion dollars, according to its results published on Wednesday.
The group's preferred indicator, so-called ex-TAC revenues (that is to say excluding traffic acquisition costs) reached 921 million dollars, an acceleration of 12% over one year.
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A financial upturn for adtech after stagnating ex-TAC revenues in 2018, followed by two consecutive years in decline.
However, the group is unable to return to its annual revenue levels of 2019, 2018 or 2017. Its annual net profit climbed 84% over one year, to 138 million, driven by the rebound in the sector.
"We recorded our fourth consecutive quarter of growth and achieved double-digit growth in 2021, which positions us well for 2022
," Criteo chief executive Megan Clarken said in a statement.
“Our exceptional performance demonstrates the success of the major steps we have taken in the transformation of our business
,” she added.
Diversification and retail media
Criteo's historical specialty is
"retargeting"
, which consists of presenting Internet users with advertisements for products in which they have already shown an interest.
The technique benefits from the boom in e-commerce.
But like all adtechs, Criteo's model, based on the use of advertising cookies, small files storing users' browsing data, has been undermined by Apple's anti-cookie policy, announced at the end of 2017. In 2018, Google followed in Apple's footsteps by announcing its intention to put an end, too, to cookies by the end of 2023. To the limits imposed by the Gafa were added the regulatory constraints of the General Regulations on data protection (GDPR) in Europe.
Separately, changes Apple introduced in recent months to its new mobile operating system that prevent apps from accessing the device's advertising ID without permission have cost the company tens of millions of dollars. business.
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As a result, Criteo had to reduce its workforce by 10% last year.
He also set his sights on other segments of the online advertising market.
The company's strategy is to go beyond its historic advertising retargeting activity, by positioning itself in particular on
“media commerce”
.
Among the new features, Criteo has been focusing since May 2021 on contextual targeting, which focuses on the environment in which an advertisement is displayed, rather than on the Internet user, but also on video, launched a year ago, or even the display, advertising banners whose objective is to acquire new customers.
Criteo observes 900 billion commercial transactions worldwide.
The group also relies on
“retail media”
: advertising monetization made via the merchant sites of major retailers.
A section of the booming market since the health crisis.
Last year, Criteo's so-called ex-TAC revenues jumped 58% in
retail Media
to $125 million.
They represent 13.5% of the group's overall turnover.
Criteo works in particular with groups such as Carrefour, as a supplier of technical solutions (in white label) or as a management.
Expected growth between 10 and 12%
In December, Criteo signed the biggest acquisition in its history by paying $380 million to acquire Iponweb, a DSP aggregator - the programmatic tool allowing advertisers and agencies to target their campaigns and centralize their buying operations. -, which integrates into all real-time advertising space sales platforms (SSP).
For the year 2022, Criteo anticipates an increase in its revenues of between 10% and 12% over one year.
In the coming months, the group continues to work on the development of
"a common identifier"
with various players in the industry, including The Trade Desk.
The goal being, in the post-cookie era, to share the information they have on Internet users who have registered on a site.
Criteo is also working with Google on its "Privacy Sandbox" project.