PRESS RELEASE
Paris, 24 March 2017 (6:30 pm)
ADLPartner: STRONG EARNINGS GROWTH IN 2016
PROPOSED DIVIDEND OF €1 PER SHARE
The ADLPartner Group is reporting growth in its full-year earnings for 2016. Operating income climbed to €8.9 million, representing 7.3% of net sales, versus 4.5% in 2015. Net income (group share) improved by 60% to reach €5.47 million, with €1.36 per share.
HIGHLIGHTS
In 2016, the ADLPartner Group confirmed its solid development, with strong growth - particularly in Spain - for the range of BtoB marketing services sold under the ADLPerformance brand. Open-ended subscription sales also showed a good level of resilience, with only a limited contraction for the portfolio at end-2016 compared with 2015.
Alongside this, the Group has continued moving forward with the development of ADLP Assurances, its subsidiary specialized in direct marketing insurance brokerage. Its major commercial investments were kept at an identical level to 2015, helping drive the development of a portfolio of contracts that will generate future revenues.
EARNINGS
Consolidated net sales[1] climbed to €122.3 million, up 3.3% from 2015, while the gross sales volume[2] came to €277.9 million, stable compared with 2015.
Consolidated operating income is up 67% from €5.32 million in 2015 to €8.9 million.
Consolidated net income (group share) shows 60% growth, up to €5.47 million, with a net margin of 4.5%, versus 2.9% the previous year.
| Consolidated data (€ million) | 2016 | 2015 | Change |
| Net sales | 122.30 | 118.37 | +3% |
| Operating income % of net sales | 8.89 7.3% | 5.32 4.5% | +67% |
| Income from continuing operations % of net sales | 5.47 4.5% | 3.50 3.0% | +56% |
| Net income from held-for-sale or discontinued operations | - | (0.07) | - |
| Net income (group share) % of net sales | 5.47 4.5% | 3.43 2.9% | +60% |
FINANCIAL STRUCTURE
Consolidated shareholders' equity represented €23.4 million at 31 December 2016, up €0.8 million from 31 December 2015, primarily factoring in consolidated earnings for the year (+€5.5 million), the ordinary dividend paid out for FY 2015 (-€4.1 million) and the impact of the takeover of Activis in October 2016 (-€0.8 million).
The Group's net cash position is up to €28.8 million at 31 December 2016, compared with €26.6 million at 31 December 2015. Net asset value[3] (group share), calculated based on shareholders' equity and the value of the active open-ended subscription portfolio, is up 1.4% to €126.2 million (€32.1 per share, excluding treasury stock), compared with €124.6 million at 31 December 2015.
PROPOSED DIVIDEND OF €1 PER SHARE
Considering the results achieved in 2016 and the investments planned for 2017, the Management Board will be submitting a proposal at the General Shareholders' Meeting on 16 June 2017 for a dividend of €1 per share, to be paid out on the 23rd of June 2017.
OUTLOOK
The ADLPartner Group is rolling out a strategy to create value and capitalize on its marketing expertise and solutions in new developing markets. In 2017, its development is being driven by its enhanced range of BtoB marketing services and its continued investments in the direct marketing insurance market.
For its longstanding business lines, in a difficult market environment, the Group is optimizing the performance of its open-ended subscription marketing mixes, while significantly scaling back its prospecting campaigns for its other product lines.
By further strengthening the efficiency of its offers and diversifying its activities, the Group will be able to sustainably consolidate its potential for growth and profitability.
ADDITIONAL INFORMATION
The consolidated financial statements for 2016 were approved by the Management Board on 17 March 2017 and checked and controlled by the Supervisory Board during its meeting on 24 March 2017. The statutory auditors have completed the audit procedures on the consolidated accounts. The certification report will be issued once the necessary procedures have been finalized for publishing the full-year financial report.
Next date: 2017 first-quarter net sales on 27 April 2017 (after close of trading)
ADLPartner in brief
With its extensive track record in performance marketing, ADLPartner designs, markets and implements customer relationship management and loyalty services on its own behalf or for its major partners (banks, retailers, services,
e-commerce, etc.) across all distribution channels.
ADLPartner is listed on the regulated market Euronext Paris - Compartment C.
ISIN: FR0000062978-ALP - Bloomberg: ALP:FP - Reuters: ALDP.PA
www.adlpartner.com
CONTACTS
| ADLPartner Investor Relations & Financial Information tel: +33 1 41 58 72 03 relations.investisseurs@adlpartner.fr | Calyptus Cyril Combe tel: +33 1 53 65 68 68 adlpartner@calyptus.net |
[1] Net sales (determined in line with the French professional status for subscription sales) only include the amount of remuneration paid by magazine publishers; for subscription sales, net sales therefore correspond to a gross margin, deducting the cost of magazines sold from the amount of sales recorded. For acquisition and management commissions linked to sales of insurance policies, net sales comprise current and future commissions issued, acquired by the accounting reporting date, net of cancellations.
[2] Gross sales volume represents the value of subscriptions and other products sold. It is equal to net sales for the insurance business.
[3] Net asset value represents the amount of equity plus the discounted value of future net revenues generated by the active open-ended subscription portfolio.
