MEETIC : Results for the 1st Quarter of 2011
05/11/2011 | 01:15pm
Regulatory News:
MEETIC (Paris:MEET - FR0004063097), the European leader in online
dating, today announces its consolidated results for the 1st
quarter to 31st March 2011.
-
Consolidated revenue to 31st March 2011
|
In millions of euros
|
|
31/03/2011
(3 months)
|
|
31/03/2010
(3 months)
|
|
?%
|
|
|
|
|
|
Internet
|
|
45.0
|
|
42.0
|
|
+7.0%
|
|
% of total revenue
|
|
97%
|
|
97%
|
|
|
|
Mobile
|
|
0.8
|
|
1.0
|
|
-14.8%
|
|
% of total revenue
|
|
2%
|
|
2%
|
|
|
|
Other
|
|
0.4
|
|
0.4
|
|
+3.7%
|
|
% of total revenue
|
|
1%
|
|
1%
|
|
|
|
TOTAL
|
|
46.2
|
|
43.4
|
|
+6.5%
|
|
|
|
|
|
|
|
|
Unaudited
Consolidated revenue for the first quarter of 2011 totalled 46.2 million
euros, up +6.5% compared to the first quarter of 2010 and up +4.6% on a
constant forex basis.
Subscription sales (billings excluding deferred revenue) came to 47.3
million euros, up +8.8% on the same period of 2010.
The Group had 872,047 subscribers at 31st March 2011,
compared to 858,197 at 31st December 2010 and 829,258 at 31st
March 2010, giving a net increase of 13,850 subscribers over the first
three months of the year. This increase in subscriber numbers was
essentially recorded on the matchmaking segment, thus confirming the
momentum initiated in 2010.
-
Consolidated results to 31st March 2011
|
In millions of euros (IFRS)
|
|
31st March 2011
(Consolidated)
|
|
31st March 2010
(Consolidated)
|
|
Revenue
|
|
46.2
|
|
43.4
|
|
EBITDA* before the cost of free shares
|
|
-2.1
|
|
0.0
|
|
EBITDA*
|
|
-3.0
|
|
-0.6
|
|
Operating profit
|
|
-3.9
|
|
-1.7
|
|
Share in net income of associates
|
|
0.5
|
|
-
|
|
Net profit from continuing activities
|
|
-3.2
|
|
-2.5
|
|
Net profit from discontinued activities
|
|
-
|
|
2.4
|
|
Net profit
|
|
-3.2
|
|
-0.1
|
|
|
|
|
|
|
Unaudited
* Earnings before interest, taxes, depreciation and amortization
In line with the seasonal aspect of our business, Meetic carried out
substantial marketing investments over the first three months of the
year, thus spending 36.5 million euros or 79% of quarterly sales.
The further growth recorded by matchmaking over the quarter led to an
increase in deferred revenue, which thus totalled 2.3 million euros.
Subsequently, Earnings Before Interest, Taxes, Depreciation and
Amortization (EBITDA) was a negative 3 million euros at 31st
March 2011 and there was an operating loss of -3.9 million euros.
Once the share in net income of Match.com Global Investments is taken
into account, i.e. 0.5 million euros, the Group's attributable net
profit for the first quarter of the year was a negative -3.2 million
euros.
At 31st March 2011, the Group had a net cash surplus of close
to 43.0 million euros, compared to 40.6 million euros at end-December
2010.
Philippe Chainieux, Meetic's Managing Director, concludes: "The
growth recorded over the first quarter of 2011 is in line with our
expectations. The matchmaking segment has benefitted from substantial
investments at the start of the year and is continuing to improve. At
the same time, the Group is pursuing its plan to develop new products,
notably with the European deployment of iPhone applications, the launch
of the new dating platform during the summer and the launch of the local
dating site. Moreover, the Group remains on the lookout for any
acquisition opportunities in Europe, and is reaffirming its guidance for
an EBITDA margin of between 20 and 25% in 2011."
About Meetic, European online dating leader (www.meetic-corp.com):
Meetic manages two services in Europe: online dating and matchmaking,
mainly under the Meetic and Meetic Affinity brands, and markets two
highly complementary economic models on the dating market, one based on
internet use, the other on mobile phones. By acquiring the European
activities of world leader Match.com in June 2009, Meetic has
strengthened its first place in Europe. The group is currently
established in 16 European countries, and is available in 13 languages.
From inception, the group has pursued a clear leadership strategy
focusing on quality, innovative marketing and perfect technological
expertise. Meetic works hard to optimize service quality and to satisfy
every possible expectation of its European subscribers. In 2010, Meetic
posted sales of ?186.0m and an EBITDA margin of 20.6%.
Listed on Euronext Paris - Compartment B of the NYSE Euronext -
ISIN: FR0004063097
* * * *
Results for the first half of 2011 will be published on:
27th
July 2011, after market
Meetic
Finance department
Stéphanie Pardo
meetic@newcap.fr
or
NewCap.
Investor
relations
Pierre Laurent
Axelle Vuillermet
Tel.: +33
(0)1 44 71 94 94
meetic@newcap.fr
© Business Wire 2011
