ad pepper media announces jump in profits in 4th quarter

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Fiscal 2002 featured constantly growing turnover, a profit situation improving from quarter to quarter and achievement of break-even.

Nuremberg, Hoofddorp, The Netherlands, 24 March 2003
ad pepper media International N.V. today published its operating figures for the previous calendar year and for the last quarter of 2002.

After clearly exceeding comparative figures from the previous year in the first three quarters of fiscal 2002, ad pepper media International N.V. succeeded in continuing this positive trend in the fourth quarter of the year. The company’s fourth quarter turnover amounted to 4,898 KEUR, an increase of 42.2% over the previous quarter and 140% over the same quarter in the previous year. The positive results in the third quarter (27 KEUR) were increased to a convincing 557 TEUR in the fourth quarter (Q4/2001: -4,752 KEUR). The main cause of this jump in turnover and profits was the international, integrated use of ad pepper media marketing solutions which proved successful in a number of well-known and internationally-operating consumer goods campaigns. At the same time, it was possible to make clear cuts in operating costs compared with the previous year.

Consolidated group turnover for fiscal 2002 was 14,148 KEUR after 9,438 KEUR in the previous year, representing a growth in turnover of 50%. After the positive results in the third and fourth quarter, the deficit for the whole year was reduced from -13,334 KEUR (2001) to -705 KEUR (2002), an improvement in results of 95%.

ad pepper media’s resources of liquid funds at the 31.12.2002 cut-off date amounted to 28,479 KEUR and thus remain comfortable.

Figures for 2002/ 2001 in accordance with US GAAP:

Q4/2002 Q4/2001 Diff. 2002 2001 Diff.
Turnover KEURO 4.898 2.041 140% 14.148 9.438 50%
Gross margin KEURO 2.742 418 556% 6.700 2.066 224%
EBIT KEURO 448 – 4.912 109% -1.579 -14.833 89%
Year profit/deficit KEURO 557 -4.752 112% -705 -13.334 95%
Profit/loss per share EURO 0,05 -0,44 111% -0,07 -1,20 94%
Operating costs KEURO 2.355 5.454 -57% 8.030 17.218 -53%
31.12.02 31.12.01
Liquid resources KEURO 28.479 32.086
Equity capital KEURO 33.915 34.490
Balance sheet total KEURO 39.004 39.631

It is particularly pleasing to note that all national companies were able to contribute to the continuous growth and that the improved profit situation is not due to risky acquisitions, but has been achieved from own strengths.

The strategy of using an integrated value-added approach with intermeshing media, data and technology business areas has proved itself the right one. ad pepper media succeeded in covering its advertising clients’ specific needs in interactive marketing, which are not covered so far by the standard applications and features available on the market.

Purchases in the technology area showed the hoped-for synergy and make it possible for clients to implement sophisticated, effective campaigns on regional, national and international levels. Numerous leading international companies have confirmed this in recent months with their bookings.

“We can be satisfied with the fourth quarter result, showing as it has the potential of our business model and our organisation. Simultaneously, it encourages us to work hard and solidly improve our solutions. We have had more and more success in integrating technology and marketing, thanks to our own specific developments and acquisitions in the technological area. This integration as such is responsible for the positive business trend. However, we must continue to work hard. Our goal is to produce sustainable profits so that we can continue to provide our clients with better products and services in the face of tough competition” commented Ulrich Schmidt, CEO of ad pepper media.