Regulatory News:
MEETIC (Paris:MEET) (MEET - FR0004063097), the European leader in online dating, today announces its consolidated quarterly results for the 1st quarter to 31st March 2013.
- MEETIC's revenue to 31st March 2013 (excluding Massive Media)
In millions of euros | 31/03/2013 | 31/03/2012 | Var. | |||
IFRS |
MEETIC
excluding Massive Media |
MEETIC
excluding Massive Media | MEETIC excluding Massive Media | |||
Internet | 39.6 | 39.1 | 1% | |||
% of total revenue | 95% | 95% | ||||
Mobile | 1.7 | 1.7 | - | |||
% of total revenue | 4% | 4% | ||||
Other | 0.3 | 0.3 | ||||
% of total revenue | 1% | 1% | ||||
Total | 41.6 | 41.2 | 1% |
Unaudited
MEETIC's revenue (excluding Massive Media) for the 1st
quarter of 2013 increased 1% to ?41.6 million.
MEETIC grew 54,202
subscribers to 811,534, representing 7% growth.
- MEETIC's results to 31st March 2013 (excluding Massive Media)
In millions of euros (IFRS) | 31/03/2013 | 31/03/2012 | Var | |||
MEETIC excluding Massive Media | MEETIC excluding Massive Media | MEETIC excluding Massive Media | ||||
Revenue | 41.6 | 41.2 | 1% | |||
EBITDA* before the cost of free shares | 3.7 | 5.9 | -37% | |||
% of total revenue | 8.9% | 14.3% | ||||
EBITDA* | 4.1 | 5.2 | -21% | |||
% of total revenue | 9.8% | 12.5% | ||||
Operating profit | 2.7 | 4.2 | -36% | |||
% of total revenue | 6.5% | 10.3% | ||||
Share of profit from JV using the equity method | 0.4 | 0.4 | - | |||
Net profit from maintained activities | 3.1 | 3.4 | -9% | |||
Net profit | 3.1 | 3.4 | -9% | |||
% of total revenue | 7.4% | 8.2% |
Unaudited * Earnings Before Interest, Taxes, Depreciation and Amortization
Marketing Expense (excluding Massive Media)
Marketing
expense reflects a planned increase and totalled ?24.6 million for the 1st
quarter 2013, corresponding to 59% of revenue, compared with ?23.7
million or 58% of revenue over the 1st quarter of 2012.
Other expenses (excluding Massive Media)
Other
expenses increased by ?1.7 million from ?11.6 million over the 1st
quarter of 2012 to ?13.3 million over the 1st quarter of
2013. The increase reflects product development costs and ?0.3 million
in connection with the relocation of the Company's head offices.
EBITDA margin: 9.8% - EBITDA margin before the
cost of free shares: 8.9% (excluding Massive Media)
As a
result of these investments, Earnings Before Interest, Taxes,
Depreciation and Amortisation (EBITDA) totalled ?4.1 million
at 31st March 2013, compared with ?5.2 million at 31st
March 2012.
Net profit: ?3.1 million (excluding Massive Media)
MEETIC's
net profit totalled ?3.1 million over the quarter, compared with ?3.4
million over the quarter to 31st March 2012.
- MASSIVE MEDIA's contribution to MEETIC Group Consolidated results to 31st March 2013
Massive Media, the company behind Twoo.com, was acquired by MEETIC and
consolidated in January 2013.
Massive Media reached 69,796
subscribers as of March 31, 2013.
Massive Media's net contribution includes ?1.7 million in non-cash expenses corresponding to amortization expenses and loss on long term contingent consideration.
- Consolidated results to 31st March 2013 (MEETIC + Massive Media)
In millions of euros (IFRS) | 31/03/2013 | 31/03/2012 | Var | |||
Consolidated
= MEETIC & Massive Media |
Consolidated = excluding Massive Media | |||||
Revenue | 43.7 | 41.2 | 6% | |||
EBITDA* before the cost of free shares | 4.3 | 5.9 | -28% | |||
% of total revenue | 9.8% | 14.3% | ||||
EBITDA* | 4.6 | 5.2 | -10% | |||
% of total revenue | 10.5% | 12.5% | ||||
Operating profit | 2.1 | 4.2 | -50% | |||
% of total revenue | 4.8% | 10.3% | ||||
Share of profit from JV using the equity method | 0.4 | 0.4 | - | |||
Net profit from maintained activities | 1.7 | 3.4 | -50% | |||
Net profit | 1.7 | 3.4 | -50% | |||
% of total revenue | 3.8% | 8.2% |
Unaudited * Earnings Before Interest, Taxes, Depreciation and Amortization
Net Cash position: ?46.8 million
At
31st March 2013, the Group had a cash position of ?47.6 million and ?0.9
million in debt, compared with a net cash position of ?63.4 million at 31st
December 2012.
About Meetic Group, European online dating leader (www.meetic-corp.com):
Meetic
manages online dating services, mainly under the meetic, meetic
affinity, match and twoo brands, and markets two highly complementary
economic models on the dating market, one based on internet use, the
other on mobile phones. From inception, the group has pursued a
clear leadership strategy focusing on quality, innovative marketing and
perfect technological expertise. Meetic works hard to optimise service
quality and to satisfy every possible expectation of its European
subscribers. IAC/InterActiveCorp is Meetic's main shareholder, with an
81% stake.
Listed on Euronext Paris - Compartment B of the NYSE Euronext
ISIN:
FR0004063097
* * * *
Results for the first half of 2013 will be published on:
31st
July 2013, before market
Meetic Group Finance department
Elisabeth Peyraube
or
NewCap
Financial
communication
Pierre Laurent
Louis-Victor Delouvrier
Tel.:
+33 (0)1 44 71 94 94
meetic@newcap.fr