ad pepper media International N.V. posts strong first-quarter growth
19 April 2017 - 7:56am
Nuremberg, Amsterdam, April 19th, 2017 - ad pepper media International N.V. concluded the first three months of the financial year with new record sales of EUR 16,367k, corresponding to growth of 13.5 percent (Q1 2016: EUR 14,418k). With sales growth of EUR 347k, or around 31.5 percent, the ad pepper segment posted an especially dynamic performance (Q1 2016: EUR 1,103k). The ad agents segment also reported strong growth of EUR 786k, or 29.6 percent (Q1 2016: EUR 2,657k). The Webgains segment grew by 7.7 percent to EUR 11,475k (Q1 2016: EUR 10,657k). Adjusted for currency items, sales growth in this segment came to around 16.5 percent.
The group’s gross profit rose by around 8.5 percent in the first quarter of 2017. While the ad pepper and ad agents segments reported strong gross profit growth of 72.4 percent and 22.7 percent respectively, gross profit at the Webgains segment decreased by 6.9 percent. On a currency-adjusted basis, this reduction came to 0.3 percent.
Operating expenses on group level rose by EUR 1,233k, or 38.1 percent, in the first three months (Q1 2016: EUR 3,233k). Alongside positive one-off items in the equivalent period in the previous year, severance payments and investments in the Webgains segment (especially in connection with the IBM Watson project) led to higher expenses in the period under report. Accordingly, and as expected, the group’s key profitability figures for the first quarter are slightly negative. Group EBITDA came to EUR -246k (Q1 2016: EUR 519k). The ad pepper segment doubled its EBITDA to EUR 189k (Q1 2016: EUR 94k). While EBITDA of the ad agents segment amounted to EUR 239k and remained almost stable at prior year’s level (Q1 2016: EUR 246k), the Webgains segments generated EBITDA of EUR -72k (Q1 2016: EUR 531k). We still expect to achieve consolidated EBITDA in a range of EUR 1.0m to EUR 1.5m in the 2017 financial year as a whole.
Liquid funds (including securities measured at fair value) amounted to EUR 18,443k (December 31, 2016: EUR 19,593k). The group still has no liabilities to banks.
The report on the first three months of 2017 will be published on May 19th, 2017.
Year-on-year comparison of key figures (unaudited):
|Gross profit||EUR 000s||4,116||3,793||8.5|
|Liquid funds*||EUR 000s||18,443||19,638||-6.1|
|Total assets||EUR 000s||28,721||29,113||-1.3|
*including securities measured at fair value