Sedo Holding AG
Sedo Holding AG publishes preliminary results 2011 and outlook 2012
Sedo Holding AG / Key word(s): Preliminary Results 23.02.2012 11:33 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- - Sales increased by 7% to EUR 124.5 million (previous year: EUR 116.1 million) - EBT before special amortization at EUR 6.7 million (previous year: EUR 3.3 million) - EUR 3.5 million amortizations on goodwill of the subsidiary affilinet France Cologne, February 23, 2012 - Sedo Holding AG (ISIN DE0005490155) today published its preliminary results for fiscal year 2011. Following the positive development of the operative business in the fourth quarter of 2011, the result (before special depreciations) was EUR 6.7 million and thus corresponded with the published result forecast. At the same time, in the course of the strategic development and alignment in the Affiliate business at the subsidiary affilinet France, the Management Board has decided on an amortization on the goodwill shown in the balance sheet there. This leads to a one-off negative effect on the result of EUR 3.5 million. Based on preliminary figures, the sales revenues in the Group have increased by 7.2% from EUR 116.1 million in the previous year to EUR 124.5 million. Growth drivers thereby were the development of the large customer business and the advancing internationalization in Affiliate Marketing with segment sales of EUR 72.9 million in the previous year to EUR 85.8 million. There the number of partner programmes increased by 3.5% and the number of the affiliated webpages increased by 6.0%. In Domain Marketing a decline in sales revenues to EUR 38.6 million was registered (previous year: EUR 43.1 million). In the second quarter of 2011 an adjustment process was made in the areas of Domain Trading and Domain Parking aimed at improving economic efficiency. As a result, the number of domains tradable on the platform as of December 31, 2011, declined to 15.7 million (previous year's value: 18.0 million). The number of the marketable domains declined correspondingly to 4.4 million (previous year: 6.5 million). Overall, the Group registered earnings before interest, tax, depreciation, amortization and write-downs on domains (EBITDA) of EUR 7.6 million after a figure of EUR 8.5 million in the previous year. This corresponds to a decline of 10.6%. The reasons for it are the investments affecting net income in the growth of the foreign Affiliate business and the declining sales volume in the higher margin Domain Marketing. The earnings before taxes (EBT, before one-offs) rose to EUR 6.7 million (previous year: EUR 3.3 million). As a result of amortizations on goodwill affecting net income at affilinet France, the EBT (after one-offs) declined to EUR 3.2 million. The tax quota rose to 132.9% (previous year: 68%), as a result of the amortizations on the goodwill with no effect on tax at affilinet France and, in this connection, the also necessary valuation adjustments to deferred tax claims of EUR 0.7 million. The net income declined to EUR -1.0 million (previous year: EUR 2.6 million). The earnings per share from continued operations were EUR -0.03 (previous year: EUR 0.03). For fiscal year 2012, the Management Board expects to be able to participate in the forecast growth in the online advertising market. Therefore, Sedo Holding AG expects an increase in sales revenues by around 10% and the EBT, before one-offs, of about 15%.Group key financial data acc. to Jan. - Dec. Jan. - Dec. Change IFRS in EUR million 2010 2011 Sales 116.1 124.5 7.2% EBITDA* 8.5 7.6 -10.6% EBT before one-offs 3.3 6.7 103.0% EBT after one-offs 3.3 3.2 -3.0% Result from continued business 1.0 -1.0 - operations Net income 2.6 -1.0 - EPS from continued business 0.03 -0.03 - operation in EUR*EBITDA, i.e. result of operational activity before depreciation, amortization and write-downs on domains. Marcus Schaps Head of PR Sedo Holding AG Elgendorfer Straße 57 56410 Montabaur Germany Phone: +49 (0) 2602 - 96 1076 Fax: +49 (0) 2602 - 96 1013 email: presse-holding@sedo.com 23.02.2012 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Sedo Holding AG Im Mediapark 6 50670 Köln Germany Phone: +49 - (0)221 / 34030-560 Fax: +49 - (0)221 / 34030-564 E-mail: holding@sedo.com Internet: www.sedoholding.com ISIN: DE0005490155 WKN: 549015 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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