ad pepper media: first-quarter EBITDA of kEUR -588 at previous year's level

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Nuremberg, Amsterdam, 27 April 2009 – In what continues to be a difficult market environment for online advertising, sales for the first quarter of 2009 were 10.8 percent down against the previous year, totalling kEUR 11,619 (Q1 2008: kEUR 13,032). EBITDA totalling kEUR -588 was slightly negative (Q1 2008: kEUR 483). On a comparable basis, the previous year’s EBITDA for the same period was kEUR –574. This figure contained once-off effects from the sale of shares in associates and other investments to the amount of kEUR 1,057. Despite a decline in sales, EBITDA still remained on the same level as last year. This was due, on the one hand, to lower operative costs, which were down against the same period of the previous year, as well as a generally improved margin situation.

EBT, which was calculated on a comparable basis, improved from kEUR -1,265 to kEUR -903. Operative cash flow for the first quarter totalled kEUR -1,126 (Q1 2008: kEUR -1,311) and hence also improved.

The equity ratio is at an excellent level of 85.5 percent (Q1 2008: 83.3 percent). As per the end of the first quarter of 2009, liquid funds, including securities at fair value and times deposits with a maturity of more than three months, totalled EUR 21.55 million (Q1 2008: EUR 16.3 million). There are no liabilities due to banks.

The report on the 1st quarter will be published on 29 May 2009.

Key figures for Q1 2009 compared to Q1 2008:

    Q1 2009 Q1 2008 Change
in %
Sales kEUR 11,619 13,032 -10.8
EBITDA kEUR -588 483 -22.2
EBIT kEUR -1,209 -391 -21.0
EBT kEUR -903 -208 -33.5
Liquid funds kEUR 21,547 16,250
Equity kEUR 54,048 56,182
Balance sheet total kEUR 63,233 67,435

For more information:
Jens Körner (CFO)
ad pepper media International N.V.
Phone: +49 (0) 911 929057-0
Fax: +49 (0) 911 929057-157