Saint-Ouen, France, 26 January 2012 - 6.15 pm
QUARTERLY INFORMATION
RUE DU COMMERCE JOINS ALTAREA-COGEDIM TO BUILD
THE FIRST MULTI-CHANNEL REAL ESTATE COMPANY
Sales for the 3rd quarter of 2011/2012
Successful takeover bid by ALTAREA for RueduCommerce
- Preliminary response rate: 95,11%[1]:
#ftn1 Bid soon to reopen for a further 10 trading days
La Galerie online shopping centre: 40% sales growth
Sales of e-merchant partners: ? 75.2 million (up 40% over the first 9 months)
Commissions collected by RueduCommerce: ? 6.1 million (up 52% over the first 9 months)
Average commission rate: 8.1% of e-merchants/partners' revenues
Distribution business 7.7% decline in sales
Own distribution revenues: ? 215.2 million (down 7.7% over the first 9 months)
Strong impact of natural disasters in Asia (Thailand/Japan) on end-of-year sales
Structurally difficult high-tech market
Gauthier Picquart, Chairman and CEO of RueduCommerce stated:
"La Galerie's strong results confirm the validity of the strategic U-turn initiated in 2007 with the launch of the first online shopping centre in France. Today, RueduCommerce joins a powerful Group, which is a benchmark in French retail. We will now work alongside Altarea-Cogedim's teams to continue on the path of innovation and together build the first multi-channel real estate company."
Sales: consolidated data (unaudited)
(? millions) | 9 months (April to December) | 3rd quarter (October to December) | ||||
2011/2012 | 2010/2011 | Change | 2011/2012 | 2010/2011 | Change | |
La Galerie online shopping centre | ||||||
Sales of La Galerie's e-merchant partners | 75.2 | 53.7 | 40.0% | 26.3 | 21.3 | 23.5% |
RueduCommerce commissions | 6.1 | 4.0 | 52.5% | 2.2 | 1.6 | 42.3% |
High-tech product distribution | ||||||
Distribution sales | 215.2 | 233.2 | (7.7%) | 92.1 | 103.1 | (10.7%) |
Total sales | 221.3 | 237.2 | (6.7%) | 94.3 | 104.7 | (9.9%) |
Total sales for the first 9 months of the year declined by 6.7% to ? 221.3 million. The original high-tech product distribution business contracted by 7.7%, while La Galerie's partners achieved sales growth of 40.0% to ? 75.2 million.
Despite a relatively satisfactory start to the year, the high-tech product distribution business deteriorated significantly towards the end of 2011, under the combined effect of the following factors:
Inventory shortage for hard discs and laptop computers, due to flooding in Thailand (a leading worldwide exporter)
Postponed launch of new models of digital cameras, particularly Reflex cameras, by major industry players, as a result of events that occurred in 2011, first in Japan and then in Thailand.
Deteriorated business environment, which had an adverse effect on consumer spending, particularly for high-tech products.
However, the Group retains its ranking as a leader in France in this market.
#ftn2.
Strong growth by La Galerie and increase in average commission rate collected by RueduCommerce
(? millions) | 9 months (April to December) | 3rd quarter (October to December) | ||||
2011/2012 | 2010/2011 | Change | 2011/2012 | 2010/2011 | Change | |
Sales of La Galerie's partners | 75.2 | 53.7 | +40.0% | 26.3 | 21.3 | +23.5% |
La Galerie commissions | 6.1 | 4.0 | +52.5% | 2.2 | 1.6 | +42.3% |
as % of partners' sales | 8.1% | 7.4% | 8.5% | 7.4% |
#ftn3. The trend for the average commission rate was also favourable at 8.1%, up 0.7 percentage points, thereby reflecting the gradual change in La Galerie's sales mix, and, above all, the competitive positioning established by the RueDuCommerce's platform with e-merchants. Total commissions increased by 52.5% to ? 6.1 million.
RueDuCommerce's La Galerie has become a benchmark with 2 million products marketed on line, from a range extending to furniture, gardening, interior decoration, DIY, car parts and accessories, cultural goods, toys, sport, fashion, IT, high-tech products, electrical goods, music, etc.
Successful takeover bid by Altarea for RueduCommerce
With a preliminary response rate of 95.11% of the share capital and 93.99% of voting rights, Altarea (through its subsidiary Altacom) has acquired a controlling interest in RueduCommerce.
In a matter of days, the Bid will be reopened for a period of 10 trading days, to enable shareholders to contribute their shares should they wish to do so. It should be noted that it is the Bidder's intention that RueduCommerce remains listed. As a result, neither a compulsory delisting of RueDuCommerce's shares nor an application to have them removed from the NYSE Euronext Paris regulated market is being considered.
RueDuCommerce will begin a new phase in its development within the Altarea-Cogedim Group, which will focus on its 2 businesses: La Galerie online shopping centre and the online distribution of products on its own account, particularly through the increase of e-merchants and greater penetration of the Group's websites amongst French web users.
***
About RueDuCommerce Established in 1999, RueDuCommerce is a leading e-commerce player in France. The RueDuCommerce Group:
The Group is listed on Compartment C of the NYSE Euronext Paris Stock Exchange (ISIN: FR0004053338 - Ticker: RDC) Please visit our website for more information: www.rueducommerce.com/corporate: http://www.rueducommerce.com/corporate |
Contacts
Investor Relations
Laurent Bertin - Chief Financial Officer
Laurent.bertin@rueducommerce.com:
mailto:Laurent.bertin@rueducommerce.com
Arnaud Salla
Quadrant Finance
Tel: +33 6 16 17 52 26
arnaudsalla@quadrant-finance.com:
mailto:arnaudsalla@quadrant-finance.com
Press Relations
Cécile Courtois
cecile.courtois@rueducommerce.com:
mailto:cecile.courtois@rueducommerce.com
Agnès Gilbert
Eudoxie PR
Tel: +33 1 70 38 25 54 / +33 6 84 61 30 71
a.gilbert@eudoxie-pr.com:
mailto:a.gilbert@eudoxie-pr.com
[1]:
#body_ftn1 As a percentage of capital (93.99% of voting rights)
[2]:
#body_ftn2 number of individual sessions initiated by all visitors to Group websites, source Médiamétrie
[3]:
#body_ftn3 FEVAD: up 23.3% in the July to September 2011 quarter.
http://hugin.info/143571/R/1580567/493532.pdf
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(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Rue du commerce via Thomson Reuters ONE