DGAP-News: TOMORROW FOCUS AG / Key word(s): Quarter Results
TOMORROW FOCUS AG achieves 30 percent growth in revenue
08.11.2013 / 07:49
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Corporate News
TOMORROW FOCUS AG achieves 30 percent growth in revenue
Munich, Germany, 8 November 2013 - At EUR 144 million, TOMORROW FOCUS AG
has achieved its highest-ever three-quarter revenue total. This was due in
large part to contributions from the Transactions and Advertising segments,
which both generated substantial year-on-year increases.
Consolidated revenue for the TOMORROW FOCUS Group in the first nine months
of 2013 showed a year-on-year increase of 30.0 percent from EUR 110.8
million to EUR 144.0 million. At EUR 51.8 million, the third-quarter total
was up 27.0 percent compared to the figure of EUR 40.8 million for the same
period in 2012.
Revenue in the Transactions segment for the three-quarter period grew by
39.3 percent from 83.1 million in 2012 to EUR 115.8 million in 2013.
Compared to the previous year, segment revenue was up 30.3 percent in the
third quarter from EUR 31.7 million to EUR 41.3 million.
As required under IFRS rules, the segment figure includes gross holiday
revenue generated by Ecotour.com's virtual tour operator business. This
came to around EUR 19.1 million in the first three quarters of 2013 and EUR
10.8 million in the third quarter of the year.
As well as the continued economic weakness of their core French and Dutch
markets, three other factors weighed on third-quarter revenue and earnings
for the travel companies in this segment. The volume of bookings on the
segment's holiday portals was somewhat lower due to a lull in Internet
traffic throughout July and August. This was compounded by a resurgence of
the crisis in Egypt, which led to rebookings and cancellations, and by a
number of bankruptcies among tour operators, which produced defaults
totalling around EUR 0.7 million.
At EUR 19.4 million, revenue in the Advertising segment ended the period
5.3 percent higher, compared with a figure of EUR 18.5 million in the first
nine months of 2012.
The segment's third-quarter revenue was up by as much as 21.3 percent on
the previous year from EUR 5.7 million to EUR 6.9 million. This rise was
mainly attributable to strong performances by the Group's news portal FOCUS
Online and its digital marketing specialist TOMORROW FOCUS Media.
Revenue in the Technologies segment for the three-quarter reporting period
was down by 4.0 percent from EUR 9.2 million in 2012 to EUR 8.8 million.
This was due to a decline in the volume of offsetting transactions.
By contrast, segment revenue in the third quarter of 2013 showed a
year-on-year increase of 5.7 percent from EUR 3.4 million to EUR 3.6
million.
In order to provide a more accurate comparison between the first three
quarters of 2013 and the equivalent period in 2012, the figures have been
adjusted to remove the following one-off non-operating items:
Under IFRS rules, amortisation and depreciation on the assets identified
during purchase price allocation following the corporate takeovers in 2012
came to EUR 1.3 million in the first three quarters of 2013 (first three
quarters of 2012: EUR 0.6 million) and to EUR 0.4 million in the third
quarter of 2013 (third quarter of 2012: EUR 0.4 million). The compounding
of future put/call obligations amounted to EUR 1.9 million in the first
three quarters of 2013 (first three quarters of 2012: EUR 1.1 million) and
EUR 0.5 million in the third quarter of 2013 (third quarter of 2012: EUR
0.6 million).
However, no adjustment was made for net income of around EUR 1.6 million in
the third quarter of 2012 from the disposal of minority shares in AdJug Ltd
and the purchase of the remaining shares in tomorrow Travel B.V.
Group earnings before interest, taxes, depreciation and amortisation (Group
EBITDA) for the first nine months of 2013 were 4.0 percent higher at EUR
14.6 million compared with the previous year's figure of EUR 14.0 million.
Group EBITDA for the third quarter of 2013 stood at EUR 4.5 million, down
28.6 percent from the corresponding figure of EUR 6.3 million in 2012.
At EUR 9.7 million, adjusted Group earnings before interest and taxes
(Group EBIT) for the first nine months of 2013 were down 4.9 percent on the
previous year's figure of EUR 10.2 million.
Adjusted Group EBIT for the third quarter of the current year was EUR 2.8
million, down 40.4 percent on the figure of EUR 4.7 million achieved in the
same period of 2012.
The adjusted consolidated financial result of the TOMORROW FOCUS Group for
the first three quarters of 2013 was minus EUR 2.5 million compared with
minus EUR 2.4 million in the same period of 2012.
In the third quarter of 2013, the adjusted consolidated financial result
was unchanged on the previous year at minus EUR 0.4 million.
Adjusted Group earnings before taxes (Group EBT) for the first three
quarters of 2013 stood at EUR 7.2 million, 8.9 percent down on the previous
year's figure of EUR 7.9 million.
At EUR 2.4 million, Group EBT for the third quarter of the current year was
44.2 percent down on the 2012 figure of EUR 4.3 million.
Adjusted Group earnings after taxes for the first three quarters of 2013
were 11.9 percent lower at EUR 5.4 million compared with EUR 6.1 million
for the same period of 2012.
The 2013 third-quarter figure stood at EUR 2.0 million, down 44.7 percent
from the equivalent 2012 figure of EUR 3.6 million.
Adjusted Group comprehensive income for the first nine months of 2013 was
EUR 5.4 million, down 1.8 percent compared with the figure of EUR 5.5
million for the same period of 2012.
The corresponding total for the third quarter of 2013 showed a year-on-year
fall of 39.4 percent from EUR 3.3 million in 2012 to EUR 2.0 million.
Adjusted consolidated earnings per share for the first three quarters were
18.2 percent lower at EUR 0.09 in 2013 compared with EUR 0.11 in 2012. The
unadjusted figure for the reporting period was EUR 0.04 compared with EUR
0.08 in the first nine months of 2012.
Adjusted consolidated earnings per share for the third quarter of 2013
stood at EUR 0.03, down 50.0 percent on the equivalent figure of EUR 0.06
in 2012. The unadjusted third-quarter figure was also 50.0 percent lower at
EUR 0.02 (2012: EUR 0.04).
There follows a breakdown of the earnings situation for the first three
quarters of 2013 in each of the business segments.
EBITDA for the Transactions segment ended the three-quarter reporting
period 14.1 percent higher at EUR 17.2 million compared with EUR 15.0
million in 2012. At EUR 12.3 million, the figure for EBIT was 0.3 percent
down on the previous year's figure of EUR 12.4 million.
EBITDA for the Advertising segment for the first nine months of 2013 stood
at EUR 1.9 million, a year-on-year rise of 21.4 percent compared with EUR
1.6 million in 2012. At EUR 1.2 million, the figure for EBIT was 82.4
percent up on the previous year's figure of EUR 0.7 million.
At EUR 1.1 million, 2013 three-quarter EBITDA in the Technologies segment
was 23.9 percent higher compared with the previous year's figure of EUR 0.9
million. Segment EBIT rose by 115.6 percent from EUR 0.3 million in 2012 to
EUR 0.7 million in 2013.
EBITDA for the non-operating Holding segment stood at minus EUR 5.7 million
in the first three quarters of 2013 compared with a year-on-year figure of
minus EUR 3.6 million in 2012. EBIT declined from minus EUR 3.7 million in
the first three quarters of 2012 to minus EUR 5.8 million in this reporting
period.
The earnings figures for the Holding segment in the third quarter of 2012
include non-recurring net income of around EUR 1.6 million from the
disposal of minority shares in AdJug Ltd and the purchase of the remaining
shares in Tomorrow Travel B.V.
Over recent years, the TOMORROW FOCUS Group has established a number of
valuable and sustainable Internet-based business models. Accordingly, the
Management Board is very confident that the Group can maintain the same
pattern of growth in the fourth quarter of financial 2013. Furthermore, the
Group is exploring the potential for acquiring additional Internet-based
companies that would complement its existing structure, especially in the
areas of travel and advertising.
Important note: From the first quarter of 2014 onwards, all the TOMORROW
FOCUS Group's travel companies will be combined in a new Travel segment.
The German-language version of the interim financial statements of the
TOMORROW FOCUS Group for the third quarter of 2013 will be published later
today on the website at www.tomorrow-focus.de. Publication of the
translation in English will follow soon after.
About TOMORROW FOCUS AG
TOMORROW FOCUS AG (ISIN DE005495329) is based in Munich, Germany, and is
one of the leading exchange-listed Internet groups in Germany. The Group
has a workforce of around 700, and its business operations are divided into
two segments: Transactions and Advertising.
The Transactions segment includes HOLIDAYCHECK AG, which operates a number
of hotel reviews and travel booking portals by the same name; WEBASSETS
B.V., which operates the ZOOVER hotel reviews portals and the
METEOVISTA/WEERONLINE weather portals; TOMORROW TRAVEL B.V., which operates
the Dutch online travel agent TJINGO; RPC VOYAGES SAS, which operates the
French online travel agent ECOTOUR; ELITEMEDIANET GmbH, which operates the
premium online dating agency ELITEPARTNER.de; JAMEDA GmbH, which operates
the physician ratings portal JAMEDA.de, and ORGANICE.ME GmbH, which
operates an app-based document organisation and reminder system.
The Advertising segment includes TOMORROW FOCUS MEDIA GmbH, one of the
leading German online marketing providers, which markets numerous
well-known portals on behalf of business partners in addition to those
operated by the TOMORROW FOCUS Group itself, such as the news and utility
journalism site FOCUS Online, the news portal and platform for views and
blogs THE HUFFINGTON POST, the finance and stock market information portal
FINANZEN100 and the parent portal NETMOMS GmbH.
Media and Investor Relations contact:
TOMORROW FOCUS AG
Armin Blohmann
Neumarkter Strasse 61
81673 Munich
Germany
phone +49 (0)89 9250 1256
fax +49 (0)89 9250 2403
email a.blohmann@tomorrow-focus.de
www.tomorrow-focus.de
http://twitter.com/tomorrowfocus
http://facebook.de/tomorrowfocus
http://youtube.com/tomorrowfocus
End of Corporate News
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08.11.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: TOMORROW FOCUS AG
Neumarkter Str. 61
81673 München
Germany
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, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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238737 08.11.2013
DGAP-News: TOMORROW FOCUS AG achieves 30 percent growth in revenue
| Source: EQS Group AG