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4-Traders Homepage  >  Equities  >  Euronext Paris  >  MEETIC    MEET   FR0004063097

MEETIC (MEET)
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MEETIC : RESULTS FOR THE 1ST QUARTER OF 2012 - EBITDA MARGIN: 12.5%

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05/02/2012 | 09:35am CEST

Regulatory News:

MEETIC (MEET - FR0004063097) (Paris:MEET), the European leader in online dating, today announces its consolidated results for the 1st quarter to 31st March 2012.

  • Consolidated revenue for the three-month period ending 31st March 2012
In millions of euros   31/03/2012

(3 months)

  31/03/2011

(3 months)

  ?
 
Internet 39.1 45.0 -13.1%
% of total revenue 95% 97%  
Mobile 1.7 0.8 +112.5%
% of total revenue 4% 2%  
Other 0.3 0.4 -25.0%
% of total revenue 1% 1%  
TOTAL 41.2 46.2 -10.8%

Unaudited

Consolidated revenue for the first quarter of 2012 decreased to ?41.2 million driven by a 13% decrease in subscribers. The number of subscribers at 31st March 2012 was 757,332.

  • Consolidated results for the three-month period ending 31st March 2012

In millions of euros (IFRS)

 

31st March 2012

(Consolidated)

 

31st March 2011
(Consolidated)

Revenue 41.2 46.2
EBITDA* before the cost of free shares 5,9

% of total revenue

14.3%

-2.1
EBITDA* 5.2

% of total revenue

12.5%

-3.0
Operating profit 4.2

% of total revenue

10.3%

-3.9
Share of profit from JV
using the equity method
0.4 0.5
Net profit from maintained activities 3.4 -3.2
Net profit 3.4

% of total revenue

8.2%

-3.2

Unaudited

* Earnings Before Interest, Taxes, Depreciation and Amortization

Marketing expense for the three-month period ending 31st March 2012 was ?23.7 million, or 58% of revenue, compared to ?36.5 million, or 79% of revenue, for the prior year period.

EBITDA margin: 12.5% - EBITDA margin before the cost of free shares: 14.3%

Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) increased to ?5.3 million for the three-month period ending 31st March 2012 compared to -?3.0 million for the prior year period. The increase in EBITDA was driven by lower marketing expense. EBITDA margin was 12.5% and EBITDA margin before the cost of free shares was 14.3% for the three-month period ending 31st March 2012.

Net profit: ?3.4 million

Net profit totalled ?3.4 million for the three-month period ending 31st March 2012, giving a net margin of 8.2%, compared to a net loss of ?3.2 million for the prior year period.

Cash flow:

At 31st March 2012, the Group had a net cash position of ?36.1 million and no debt. At 31st December 2011, the Group had a net cash position of ?33.1 million and no debt.

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

* * * *

Results for the first half of 2012 will be published on:

25th July 2012, before market

 

Meetic
Finance department
Stéphanie Pardo
or
NewCap.
Investor relations
Pierre Laurent
Axelle Vuillermet
Tel: +33 (0)1 44 71 94 94
meetic@newcap.fr


© Business Wire 2012
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