TOMORROW FOCUS AG / Quarter Results
12.05.2009
Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Tomorrow Focus AG increases revenue by 17.5 percent in the first quarter of
2009 - EBITDA and EBIT on par with previous year despite high level of
investment
Munich, Germany, 11 May 2009 - TOMORROW FOCUS AG, one of Germany's foremost
listed internet media groups, has now released its definitive first-quarter
results for 2009 showing a 17.5 percent increase in consolidated revenue
from EUR 16.9 million to EUR 19.8 million.
This overall rise was driven mainly by an increase of around 32 percent to
EUR 14.8 million in revenue from the E-Commerce segment as a result of the
sustained expansion of HolidayCheck AG and Elitemedianet GmbH.
By contrast, with the recession hitting the advertising industry,
first-quarter revenue in the Portal segment was down by approximately 9
percent at EUR 3.8 million.
Despite the difficult economic situation, the Group increased its market
share in all its core business areas including online marketing.
Charges against earnings included restructuring costs of EUR 0.3 million in
the Portal segment and high capital expenditure and marketing expenses
aimed at boosting market share in the Portal and E-Commerce segments.
Nevertheless, consolidated EBITDA and consolidated EBIT for the first
quarter of 2009 remained on par with the figures for the previous year.
Group earnings before interest, taxes, depreciation and amortisation (Group
EBITDA) for the first quarter of 2009 stood at EUR 1.9 million (first
quarter 2008: EUR 1.9 million).
At EUR 1.0 million, Group earnings before interest and taxes (Group EBIT)
for the first quarter of 2009 were also at the same level as the previous
year.
However, Group EBT and consolidated net income for the first quarter of
2009 were reduced in total by around EUR 2.3 million as a result of
non-operating charges.
These included a dividend payment by HolidayCheck AG to minority
shareholders of around EUR 1.4 million for the years 2006 to 2008 leading
to a fall in the result from financing activities.
Non-cash expenditure for accumulated interest on payments owed in
connection with the acquisition of shareholdings in HolidayCheck AG and
Elitemedianet GmbH reduced the financial result by a further EUR 0.6
million (first quarter 2008: EUR 0.4 million).
Currency translation differences relating to the exercise of the
HolidayCheck put/call option also generated a non-operating charge of
approximately EUR 0.3 million against the financial result.
The figure for Group EBT includes start-up losses totalling EUR 0.6 million
from new business areas (first quarter 2008: EUR 0.2 million).
Consequently, Group earnings (loss) before taxes (Group EBT) for the first
quarter of 2009 were down to minus EUR 1.5 million compared to EUR 0.5
million in the first quarter of 2008.
Consolidated net income (loss) for the period before minority interest fell
to minus EUR 1.8 million in the first quarter of 2009 compared to EUR 0.4
million in the first quarter of 2008.
Consolidated net income (loss) for the period after minority interest stood
at minus EUR 1.9 million, down from EUR 0.4 million in the same quarter of
2008.
Consolidated earnings (loss) per share for the first quarter of 2009
amounted to minus EUR 0.04 (first quarter 2008: EUR 0.01).
Further investment in the E-Commerce segment is planned over the rest of
the year.
The Group aims to continue the internationalisation of HolidayCheck AG
while gradually expanding its market share in the German-speaking region.
Capitalising on its success in attracting new customers, the premium dating
agency ElitePartner plans to conduct further intensive marketing activities
in the second quarter. Although marketing expenses are charged immediately
to the accounts, the corresponding revenue is only generated later. In the
short term, therefore, there will be an above-average impact on earnings.
The Portal segment will see renewed investment in measures to boost the
reach of FOCUS Online and to establish the brands associated with automated
business models such as the news aggregator nachrichten.de and the finance
portal finanzen100.de, both of which are set for a mid-year launch.
Tomorrow Focus AG expects the trend towards growth in the E-Commerce
segment to continue in the second quarter of 2009. There are also signs
that Portal revenue in the area of online marketing will improve in the
second quarter. The Group aims to exploit the difficult economic situation
to increase its market share in the core business activities.
The interim report for the first quarter of 2009 in German language is
scheduled for publication on 13 May 2009 at www.tomorrow-focus.de. The
English version will follow end of May.
Contact Investor Relations
TOMORROW FOCUS AG
Armin Blohmann
Steinhauser Strasse 1+3
D-81677 München
Germany
phone: +49 (0)89 9250-1256
fax: +49 (0)89 9250-2403
email: a.blohmann@tomorrow-focus.de
www.tomorrow-focus.de
DGAP 12.05.2009
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Language: English
Issuer: TOMORROW FOCUS AG
Steinhauserstr. 1-3
81677 München
Deutschland
Phone: +49 (0)89 9250-1256
Fax: +49 (0)89 9250-2403
E-mail: a.blohmann@tomorrow-focus.de
Internet: www.tomorrow-focus.de
ISIN: DE0005495329
WKN: 549532
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Hannover, Düsseldorf, Hamburg, München, Stuttgart
End of News DGAP News-Service
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DGAP-Adhoc: Tomorrow Focus AG increases revenue by 17.5 percent in the first quarter of 2009 - EBITDA and EBIT on par with previous year despite high level of investment
| Source: EQS Group AG