Aspiro AB (publ): Interim Report January - September 2010

Aspiro AB (publ): Interim Report January - September 2010

Very Strong Growth in Music Streaming

The Quarter in Brief
  · Net sales for continuing operations (after the sale of Mobile
Entertainment) for the third quarter were SEK 77.4 m (SEK 61.4 m),
equivalent to growth of 26%.
  · EBITDA for continuing operations for the third quarter was SEK -9.9
m (SEK -3.9 m).
  · The profit/loss after tax for continuing operations for the third
quarter was SEK -14.4 m (SEK -4.7 m).
  · Sales growth of over 100% year on year and over 65% on the previous
quarter in the Music business segment. Very good future prospects.
Ongoing negotiations with new potential partners.
  · Stable sales growth in Mobile TV. The company is executing changes
in its sales organization to achieve higher growth, targeting European
operators.
  · A rationalization program to achieve profitability in Mobile
Solutions caused non-recurring expenses of some SEK 3.5 m. The sales
organization was reorganized, and going forward, will concentrate on the
core products of gateways and the Merlin media platform.
  · Aspiro introduced new accounting principles in relation to operators
and partners in Mobile Solutions and Mobile Search in the third quarter.
This change does not affect profit/loss, but reduced net sales for
continuing operations by some SEK 10 m.

 Future Prospects
  · Aspiro is maintaining its focus on profitable growth in its core
segments of Music and Mobile TV.

CEO's Statement

“Now that we have divested former business segment Mobile Entertainment,
it's clear that Aspiro is a growth company. Music sales have doubled and
we're noting continued very brisk progress, especially in streaming
services,” commented Gunnar Sellæg, CEO.

Key figures 

JUL-SEP 2010 (2009) JAN-SEP 2010 (2009)
Net sales, SEK m 77.4 (117.7) 283.1 (362.0)
EBITDA, SEK m -9.9 (7.0) -4.7 (8.5)
Earnings after tax, SEK m -16.0 (2.2) -21.5 (-0.2)
Basic earnings per share, SEK -0.08 (0.01) -0.10 (0.00)
Diluted earnings per share, SEK -0.08 (0.01) -0.10 (0.00)
Equity/assets ratio, % 67 (77) 67 (77)
Return on equity, % -5.48 (0.89) -7.04 (0.22)
Return on capital employed, % -5.03 (0.66) -7.31 (-1.35)
Operating margin, % -18.3 (1.7) -7.5 (-1.7)
Cash flow from operating activities per share, SEK 0.03 (-0.01) 0.06
(-0.06)

Continuing Operations
JUL-SEP 2010 (2009) JAN-SEP 2010 (2009)
Net sales, SEK m 77.4 (61.4) 197.1 (190.4)
EBITDA, SEK m -9.9 (-3.9) -34.5 (-19.2)
Earnings after tax, SEK m -14.4 (-4.7) -39.5 (-16.7)
Basic earnings per share, SEK -0.07 (-0.02) -0.20 (-0.09)
Diluted earnings per share, SEK -0.07 (-0.02) -0.20 (-0.09)
Operating margin, % -18.3 (-11.5) -24.2 (-15.2)

This information is mandatory for Aspiro AB (publ) to publish pursuant
to the Swedish Securities Exchange and Clearing Operations Act and/or
the Swedish Financial Instruments Trading Act. This information was
submitted for publication at 8:30 a.m. on 11 November 2010.

For more information or questions, please contact:

Kristin Breivik Eldnes
Head of Corporate communication and IR
Tel: +47 908 07 389
e-mail: kristin.eldnes@aspiro.com (kristin.eldnes@aspiro.com)

Gunnar Sellæg
CEO
Tel: +47 901 81 528
e-mail: gunnar.selleg@aspiro.com (gunnar.selleg@aspiro.com)