Revenue for the 1st half of 2012 totalled 82.0 million euros, and integrates a 13.2% decrease in the number of subscribers, which totalled 733,158 at 30th June.

ARPU (Average Revenue Per User) was €17.48 over the 1st half of 2012, almost stable compared to the first half of 2011 (€17.53) and higher than the second half of 2011 (€16.9). 

Consolidated results at 30th June 2012    

Marketing expenses for the first six months of the year totalled €39.0 million, or 47.6% of revenue, versus €58.3 million and 63% of revenue for the 1st half of 2011.

EBITDA: +87%
As a consequence of this lower rate of investment, profitability improved significantly, with EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) coming to €19.1 million at 30th June 2012 compared to €10.2 million at 30th June 2011. The EBITDA margin was thus 23.2% at 30th June 2012 and 34.0% for the second quarter alone.

Net margin: 14.6%
Net profit for the 1st half of 2012 came to €11.9 million giving a net margin of 14.6%, compared to 6.5% for the 1st half of 2011.

Cash flow
At 30th June 2012, the Group had a net cash position of €47.2 million and no debt. This compares to a net cash position of €33.1 million at 31st December 2011. 

Results for the 3rd quarter of 2012 will be published on 24th October 2012, before market 

* Limited review procedures have been carried out on half year consolidated accounts. The issue of the limited review report is in progress.  

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