Reulatory News:

MEETIC (Paris: MEET) (FR0004063097), the European leader in online dating, today announces its consolidated and audited results for the financial year to 31st December 2012, approved by the Board meeting 1 of 1st February 2013.

  • Consolidated revenue
             
In millions of euros   31/12/2012   31/12/2011   ?"
  (12 months)   (12 months)  
Internet 156.9 172.6-9.1%
% of total revenue   95%   97%    
Mobile 6.7 4.1+64.2%
% of total revenue   4%   2%    
Others 1.2 1.6-23.5%
% of total revenue   1%   1%    
TOTAL   164.8   178.3   -7.5%

2012 consolidated annual revenue totalled ?164.8 million, down 7.5% on the previous year.

Revenue for the 4th quarter of 2012 came to ?42.0 million, higher than the three previous quarters of the year.

 
  2012   2011
In ? millions   Internet   Mobile   Others   Total   Internet   Mobile   Others   Total
Q1   39.1   1.7   0.3   41.2   45.0   0.8   0.4   46.2
Q2   39.0   1.6   0.3   40.8   44.9   0.9   0.4   46.2
Q3   38.8   1.8   0.3   40.8   42.5   1.0   0.3   43.8
Q4   40.0   1.6   0.3   42.0   40.2   1.4   0.5   42.1

Subscriber indicators:

  • The Group had a total of 768,572 subscribers at 31st December 2012, versus 762,099 subscribers at 31st December 2011.
  • Monthly ARPU (Average Revenue Per User) was 17.73 euros over the 2nd half of 2012, compared with 17.48 euros over the first half of 2012. Over the year as a whole, monthly ARPU was 17.60 euros, versus 17.38 euros in 2011, a 1% improvement on the year.
  • 2012 consolidated results
 
In millions of euros (IFRS)   31/12/2012
(Consolidated)		   31/12/2011
(Consolidated)		   ?"
Revenue   164.8   178.3   -7.6%
EBITDA* before the cost of free shares   39.1   40.3   -3.0%
% of total revenue   23.7%   22.6%  
EBITDA * 36.8 36.2 +1.6%
% of total revenue   22.3%   20.3%  
Operating profit 31.6 27.9 +13.4%
% of total revenue   19.2%   15.7%  
Share of profit from JV using the equity method   1.1   1.9   -41.7%
Depreciation of investments and receivables

on investments in associates

   -10.3   -10.6   -2.8%
Net profit from maintained activities   11.7   8.9   +31.9%
Net profit 11.7 8.9 +31.9%
% of total revenue   7.1%   5.0%  

* Earnings Before Interest, Taxes, Depreciation and Amortization

Marketing expense:

2012 marketing expense totalled ?77.6 million or 47.1% of revenue, compared to ?92.5 million and 52.0% of revenue in 2011.

EBITDA margin: 22.3%

Profitability significantly improved in 2012, with Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA), after the cost of free shares, thus totalling ?36.8 million, giving an EBITDA margin of 22.3% in 2012 compared with 20.3% in 2011.

Depreciation of investments and receivables on investments in associates:

The Group's share of net income from associates decreased from ?1.9 million in 2011 to ?1.1 million in 2012.
In addition, the Group recorded an impairment charge for the carrying value of our Latin American investment of ?10.3 million in depreciation and associated receivables given relative underperformance compared to expectation.

Net profit: +31.9%

Annual net profit totalled ?11.7 million, giving a net margin of 7.1% in 2012 compared with 5.0% in 2011.

Cash position: ?63.4 million

At 31st December 2012, the Group had a net cash position of ?63.4 million and no debt. Its net cash position at 31st December 2011 was ?33.1 million.

About Meetic Group, 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 on the continent. The group is currently established in 15 European countries, and is available in 11 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. IAC/InterActiveCorp is Meetic's main shareholder, with an 81% stake.

Listed on Euronext Paris - Compartment B of the NYSE Euronext - ISIN: FR0004063097

Meetic
Finance department
Stéphanie Pardo

* * * *

1 Audit procedures have been carried out on the Group's consolidated accounts. The audit report will be issued once the necessary procedures for verifying footnotes to the consolidated financial statements and management report have been completed.

NewCap.
Investor relations
Pierre Laurent
Axelle Vuillermet
Tel.: +33 (0)1 44 71 94 94
meetic@newcap.fr