ad pepper media International N.V. maintains profitable growth

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Nuremberg, Amsterdam, October 14, 2016 – ad pepper media International N.V. concluded the first nine months of the financial year with record sales of EUR 41,830k (Q1-Q3 2015: EUR 37,149k). On a like-for-like basis, i.e. accounting for discontinued activities, the Group’s sales growth came to around 17.4 percent. With sales of EUR 8,092k and growth of around 36.4 percent, the ad agents segment posted the most dynamic growth within the Group (Q1-Q3 2015: EUR 5,932k). Sales in the ad pepper segment totaled EUR 3,865k in the first nine months of 2016 and, on a like-for-like basis, also showed double-digit growth of 14.4 percent (Q1-Q3 2015: EUR 3,379k). Sales in the Webgains segment rose by around 13.5 percent to a new record level of EUR 29,866k (Q1-Q3 2015: EUR 26,317k). Due in particular to the weakness of the British pound against the euro, however, the rate of growth slowed in the past quarter. On a currency-adjusted basis, this segment’s sales growth over the nine-month period came to around 20.0 percent.

The Group’s like-for-like gross profit rose by around 15.2 percent in the first nine months of 2016, with all three operating segments posting in some cases substantial positive growth. The increase in the gross profit at ad agents came to around 16.9 percent, while ad pepper reported growth of around 17.0 percent and the Webgains segment boosted its gross profit by around 8.4 percent. Excluding currency items, the gross profit at the Webgains segment rose by 13.7 percent.

Assisted by the weakness in the British pound, the Group’s operating costs fell significantly by EUR 1,544k, or 13.1 percent, to EUR 10,276k in the first three quarters of the financial year (Q1-Q3 2015: EUR 11,820k). Thanks to improved cost structures in conjunction with higher gross margins, the Group therefore upheld the positive performance already seen in the first half. Group EBITDA for the first nine months of the current financial year came to EUR 1,255k (Q1-Q3 2015: EUR -205k), with the Webgains segment alone raising its EBITDA by EUR 624k to EUR 1,035k (Q1-Q3 2015: EUR 411k). The ad agents segment generated EBITDA of EUR 694k in the first nine months of 2016 (Q1-Q3 2015: EUR -14k), while the ad pepper segment improved its EBITDA to EUR 655k (Q1-Q3 2015: EUR 320k).

Liquid funds (including securities measured at fair value) amounted to EUR 18,280k (December 31, 2015: EUR 22,437k). The Group still has no liabilities to banks.

The report on the first nine months of 2016 will be published on November 18, 2016.

Year-on-year comparison of key figures (unaudited):

Q1-Q3/2016 Q1-Q3/2015 % change
Sales EUR 000s 41,830 37,149 12.6
Gross profit EUR 000s 11,460 11,403 0.5
EBITDA EUR 000s 1,255 -205 <-100.0
EBIT EUR 000s 1,184 -417 <-100.0
EBT EUR 000s 1,262 -283 <-100.0
  09.30.2016 09.30.2015 % change
Liquid funds* EUR 000s 18,280 18,602 -1.7
Equity EUR 000s 15,271 16,139 -5.4
Total assets EUR 000s 26,258 28,003 -6,2

*including securities measured at fair value

For further information:
Dr. Jens Körner (CFO)
ad pepper media International N.V.
phone: +49 (0) 911 929057-0
fax:+49 (0) 911 929057-157