Annual financial statements

At Indigo Publications, we are proud of our political and financial independence. It's what allows us to guarantee our readers information that is independent, rigorous and of a high standard. We believe we have a duty of transparency towards our readers. That is why we make a point of publishing our shareholder structure and annual financial statements on our website.

Nos comptesIn 2009, Indigo Publications was one of the founding members of the independent online press organisation, Spiil, which recommends its members publish their annual financial statements.

Indigo Publications is a French press group founded in 1981 by independent journalist Maurice Botbol, the current chairman. His son, Quentin Botbol was appointed managing director on 1 January 2021.

Since 20 July 2020, the company’s €42,803.20 capital has been held by Quentin Botbol, managing director (80%), Maurice Botbol, chairman (15.7%) and Indigo Publications employees (4.3%).

Annual accounts 2022

In 2022, Indigo Publications recorded its 20th consecutive year of growth and net profit.

Thanks to a significant surge in our readership, our turnover continued to grow in 2022, reaching €7.6m, which represents an increase of +17% (+16% in 2021).

Following an active recruitment drive, our operating costs increased by 34% (20% in 2021).

As of 31 March 2023, Indigo Publications employs 83 permanent members of staff, including 58 editorial staff, and 25 in other departments (sales, marketing, IT, management). 16 of those positions were created in the last year, building on the 20 created in 2021. Our editorial team also works with a growing network of over 120 freelance reporters and correspondents around the world.

For the very first time, Indigo Publications received a subsidy in 2022 from the French Ministry of Culture designed to promote media plurality. The subsidy is allocated to online-only press outlets that provide recognised general or political news services. It is calculated according to the size of the outlet’s editorial team, and its purpose is to “encourage the development of editorial activities“, “allow access to a quality press” and foster “a plurality of ideas“.

The subsidy amounted to €1.2m for the years 2021 and 2022. In our accounts, half was categorised as operating revenue and the other half as exceptional income.

This year, the company’s operating profit reached €990k (€1.23M in 2021).

Since 2009, Indigo Publications has maintained a profit-share plan, allowing employees to benefit from the company’s results. A total of €328,000 was paid out for 2022. In addition to this plan, the company also operates an employee shareholding programme.

The first quarter of 2023 has shown a solid growth in subscriptions. Consequently, Indigo Publications expects its turnover to increase by more than 20% in 2023.

Revenues and net profit 2007-2022 (in thousands of euros)

2022 profit and loss account