ad pepper media International N.V. starts 2010 with profitable growth

Nuremberg, Amsterdam, 26 April 2010 – In the first quarter of 2010, ad pepper media International N.V. already recorded a positive result, not just on an EBITDA and EBT, but also on an EBIT basis. Earnings before interest, taxes and deprecation and amortization (EBITDA) totaled kEUR 203 (Q1 2009: kEUR -588), earnings before taxes (EBT) totaled kEUR 420 (Q1 2009: kEUR -903) and earnings before interest and taxes (EBIT) totaled kEUR 17 (Q1 2009: kEUR -1,209).

On a pro-forma basis, i.e. taking the discontinuation of activities in Italy into consideration, sales grew by 6.9 percent on a consolidated basis. The Webgains and ad agents segments were the growth drivers in the ad pepper media Group with 26.6 percent and 31.7 percent respectively (in each case compared to the previous year’s quarter). With sales down by 6.1 percent on a pro-forma basis the ad pepper media segment was below expectations, though a trend turnaround is also expected in the second quarter.

The Group’s 2006/07 acquisition strategy focused on performance based advertising solutions combined with a significantly lower cost base is having a positive impact. The goal is to achieve EBITDA break even for the entire year 2010. This was last achieved in 2005.

The cash item (liquid funds, including securities at fair value and time deposits) increased slightly to kEUR 22,677 (31 December 2009: kEUR 22,602). There are no liabilities due to banks. Equity ratio as per 31 March 2010 is at 69 percent (31 December 2009: 65 percent).

The 1st quarter 2010 report will be published on 12 May 2010.

Key figures (non-audited) for 2010 compared to 2009:

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