DGAP-News: TOMORROW FOCUS AG / Key word(s): Final Results
TOMORROW FOCUS AG publishes results for 2014: consolidated revenue up
by 7 percent and Group operating EBITDA by 13.5 percent
20.03.2015 / 09:02
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Corporate News
TOMORROW FOCUS AG publishes results for 2014: consolidated revenue up by 7
percent and Group operating EBITDA by 13.5 percent
Munich, Germany, 20 March 2015 - At EUR 161.5 million, consolidated revenue
at TOMORROW FOCUS AG in financial 2014 was 7.0 percent up on the previous
year's figure of EUR 151.0 million.
Revenue in the Travel segment rose by 11.5 percent from EUR 85.9 million in
2013 to EUR 95.8 million.
This was mainly due to an excellent performance from the Group's hotel
rating and holiday booking portal, HolidayCheck AG, which generated a
year-on-year increase in revenue of around 13 percent compared with just
single-digit growth in the sector as a whole, thus allowing it to capture a
greater share of the market.
Zoover, the leading hotel rating portal in the Benelux countries, was also
able to further increase its market share by maintaining a stable level of
revenue and boosting its profitability in a slightly contracting Dutch
travel market.
Publishing segment revenue stood at EUR 33.7 million, equivalent to a
slight rise of 1.8 percent on the figure of EUR 33.1 million in 2013.
With many advertising customers moving away from conventional display
advertising towards other digital advertising formats, a trend that was
particularly noticeable from the first quarter of 2014, the in-house
content portals operated by TOMORROW FOCUS News+ GmbH responded
successfully to the challenge by swiftly establishing alternative sources
of income such as video and native advertising and increasing both their
reach and revenue figures.
Facing the same trend in advertising behaviour, the Group's digital
marketing subsidiary, TOMORROW FOCUS Media, successfully positioned itself
as a cross-digital sales house in the financial year of 2014.
At EUR 31.9 million, revenue in the Subscription segment for financial 2014
was on a par with the previous year.
EliteMedianet GmbH, which operates the premium online matchmaking agency
ElitePartner, deliberately accepted a single-digit decline in revenue as a
way of improving its operating result.
By contrast, jameda GmbH, which operates a physician rating portal by the
same name, achieved a high double-digit percentage increase in its revenue
along with very satisfactory profits.
As required by International Financial Reporting Standards (IFRS), the
revenue figures shown for 2013 and 2014 have been adjusted to exclude RPC
Voyages SAS, Cellular GmbH and Tomorrow Focus Technologies GmbH (2013),
which are classed as discontinued operations. The earnings figures for
these two companies are shown separately as follows:
In financial 2014, Group earnings after taxes from discontinued operations
stood at minus EUR 14.3 million compared with minus EUR 0.5 million in the
previous year.
In financial 2014, consolidated earnings per share from discontinued
operations stood at minus EUR 0.25 compared with minus EUR 0.01 in the
previous year.
Group operating EBITDA (earnings from operating activities before interest,
taxes, depreciation and amortisation) rose by 13.5 percent in financial
2014 to EUR 23.5 million (2013: EUR 20.7 million).
Group EBITDA for financial 2014 was down 12.6 percent year on year at EUR
25.6 million (2013: EUR 29.3 million).
Group EBIT (earnings before interest and taxes) stood at EUR 17.4 million
for the financial year 2014, 12.6 percent lower compared with the figure of
EUR 19.9 million for 2013.
The consolidated financial result of the TOMORROW FOCUS Group for the
financial year 2014 was minus EUR 3.5 million compared with minus EUR 4.8
million in the previous year.
Group EBT (earnings before taxes) for the financial year 2014 was 7.9
percent lower at EUR 13.9 million compared with EUR 15.1 million in 2013.
Group earnings after taxes from continuing operations for the financial
year 2014 stood at EUR 10.6 million, down 14.5 percent on the previous
year's figure of EUR 12.4 million.
Group earnings after taxes including discontinued operations for the
financial year 2014 totalled minus EUR 3.7 million compared with EUR 12.0
million in 2013.
Consolidated earnings per share from continuing operations for the
financial year 2014 were EUR 0.18 (2013: EUR 0.21).
The foundations are in place for positive revenue growth in financial 2015.
After adjusting for the acquisition or disposal of long-term equity
investments, it should therefore be possible to achieve a percentage
increase in the TOMORROW FOCUS Group's revenue in the high single digits or
low double digits compared with financial 2014. The Management Board
anticipates a year-on-year rise of at least ten percent in Group operating
EBITDA.
Reflecting the importance of the Travel segment, the Group plans to focus
consistently on measures to develop its travel brands and products.
The German version of the 2014 annual report will be published on 31 March
2015; the English version will follow soon after.
Notes
The earnings figures for the financial years of 2014 and 2013 include a
number of exceptional items. The main details are outlined below:
Under IFRS rules, amortisation and depreciation on the assets identified
during purchase price allocation following the financial 2012 corporate
takeovers of WebAssets B.V., NetMoms GmbH and TOMORROW Travel B.V. came to
EUR 1.7 million in 2014 (financial year 2013: EUR 1.7 million).
In financial 2013, owing to the difficult economic situation in the
Netherlands and the resulting need to revise forecasts for the next few
years, goodwill at TOMORROW Travel B.V. (Tjingo) was written down by EUR
1.7 million.
Earnings in financial year 2014 were boosted by other income totalling EUR
2.2 million from the revaluation of earn-out and put/call obligations
towards the former minority shareholders of WebAssets B.V. and jameda GmbH.
The corresponding figures for financial 2013 include other income totalling
EUR 8.8 million from the revaluation of earn-out and put/call obligations
towards the former minority shareholders of WebAssets B.V.
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 750, and its business operations are divided into
three segments: Travel, Publishing and Subscription.
The Travel segment includes HOLIDAYCHECK AG, which operates a number of
hotel review and travel booking portals by the same name; the travel
division of WEBASSETS B.V., which operates the ZOOVER hotel review portals;
and TOMORROW TRAVEL B.V., which operates the Dutch online travel agent
TJINGO.
The Subscription segment is made up of ELITEMEDIANET GmbH, which operates
the premium online dating agency ELITEPARTNER.de; JAMEDA GmbH, which
operates the physician rating portal JAMEDA.de; and ORGANIZE.ME GmbH, which
operates an app-based document organisation and reminder system.
The Publishing segment includes TOMORROW FOCUS Publishing GmbH with the
subsidiaries TOMORROW FOCUS Media GmbH (one of Germany's leading digital
marketing providers) and TOMORROW FOCUS News+ GmbH, which operates a number
of Internet portals such as the news journalism and utility site FOCUS
Online; the news portal and platform for views THE HUFFINGTON POST; the
stock market information portal FINANZEN100; and the parent portal NETMOMS;
and the meteorological arm of WEBASSETS B.V., which operates the METEOVISTA
and WEERONLINE weather portals.
Media and Investor Relations contact:
TOMORROW FOCUS AG
Armin Blohmann
Neumarkter Strasse 61
81673 München
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
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20.03.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
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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: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart
End of News DGAP News-Service
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335261 20.03.2015
DGAP-News: TOMORROW FOCUS AG publishes results for 2014: consolidated revenue up by 7 percent and Group operating EBITDA by 13.5 percent
| Source: EQS Group AG