Please note that as a consequence of the reverse merger of Framfab
and LB Icon mid-2006 the comparable financial data over 2006 in this
press release are on a pro forma fully consolidated basis. In
addition to these comparable pro forma 2006 figures and in accordance
with the required disclosures on the basis of reverse merger
accounting principles, the statutory comparable financial data over
2006 based on 12 months January-December 2006 of the former LB Icon
combined with 5 months (August - December 2006) of the former
Framfab, can be found in the attached Quarterly Report for the period
January - September 2007.
PRESS RELEASE
Stockholm/Amsterdam, 25 October 2007
Quarterly report for July - September 2007
LBI International AB (publ) - formed by the merger of Framfab AB and
LB Icon, registered on 31 July 2006.
PREPARING FOR A LEADING GLOBAL POSITION
LBI International AB ("LBi"), the leading international full service
digital agency network, today announces its Q3 results.
FINANCIAL HIGHLIGHTS
Comparison made to pro forma 2006. See quarterly report for statutory
information
JULY-SEPTEMBER
- Net sales were EUR 40.3 million (35.1) for July-September.
- The July-September profit after tax was EUR 1.3 million (3.0). The
operating profit was EUR 2.4 million (2.8) for July-September and the
operating margin 6.0%.
- Earnings per share came to EUR 0.02 for July-September.
JANUARY-SEPTEMBER
- Net sales were EUR 117.8 million (112.0) for January-September.
- The January-September profit after tax was EUR 6.7 million (5.4).
The operating profit was EUR 9.6 million (9.3 excluding
restructuring) for January-September and the operating margin 8.1%.
- Earnings per share came to EUR 0.11 for January-September.
EXECUTIVE SUMMARY
- Net sales increased by over 14% of which 8% organically in
July-September 2007, compared to July-September 2006. Particularly
due to strong performance in the UK, the US and Scandinavia.
- Media services grew by 14% in July-September due to increasing
number of full service digital marketing solutions in line with LBi's
strategy.
- Margins for the period were 14% lower than the previous year. This
drop off in margin is attributed to lower productivity and increased
investments in our business.
- Cash flow from operations in the third quarter was positive by EUR
9.0 million compared to EUR 2.2 million for the same period last
year.
- Acquisitions of Creative Digital Group in Atlanta and Syrup LLC in
New York and a 51% stake in India offshore company Vizualize,
strengthen LBi's desired position as global service provider and
preferred partner for inter-national clients. All acquisitions
completed using cash and debt with no shareholder dilution.
For further information please contact:
Robert Pickering, CEO, LBI International AB
+31 20 460 45 00, robert.pickering@lbi.com
Eva Ottosson, Group Communications Manager, LBI International AB
+46 709 41 21 40, eva.ottosson@lbi.com
About LBi:
LBi is the leading international full service digital agency network,
servicing clients with marketing and technology solutions. The
Company employs approx. 1,400 professionals located primarily in the
major European and American business centers, such as Amsterdam,
Berlin, Brussels, Copenhagen, London, Madrid, Milan, Mumbai, Munich,
Paris, New York and Stockholm. Through interdisciplinary teams, LBi
creates innovative multi-channel solutions for its national and
international corporate clients by uniquely combining strategy
development and creative design with specific industry expertise and
latest digital technology. LBi was formed by the merger of LB Iconand Framfab in August 2006 and is listed as a Mid Cap Company on the
OMX Nordic Exchange in Stockholm as well as on Euronext in Amsterdam
(symbol: LBI).
LBI Q3 2007
| Source: LBI International AB