Improved key profitability figures despite weak economic situation

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Nuremberg, Amsterdam, 20 July 2009 – Sales in the first six months of 2009 were 12.9 percent down against the same period of the previous year, totalling kEUR 23,087 (H1 2008: kEUR 26,497) in what continued to be a difficult market environment. Gross margin totalling kEUR 10,510 (H1 2008: 11,406 kEUR) reduced disproportionately to sales development so that it was possible to record a relatively higher gross margin (H1 2009: 45.5 Percent vs. 43.0 Percent in H1 2008).

EBITDA totalling kEUR -1,697 was negative (H1 2008: kEUR 6,824). On a comparable basis, the previous year’s EBITDA for the same period was kEUR -2,797. This figure included one-off effects from the sale of investments to the amount of kEUR 9,621 so that in the period under review a continued improvement in EBITDA was achieved despite weaker sales. This was due, on the one hand, to significant lower operative costs, as well as the improved margin situation. EBT, calculated on a comparable basis, improved from kEUR -5,386 to kEUR -1,990.

The equity ratio is at an excellent level of 85.3 percent (H1 2008: 83.0 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 21.93 million (H1 2008: EUR 25.15 million). There are no liabilities due to banks.

The half-year report will be published on 14 August 2009.

Key Figures for 2009 compared to 2008:

H1 / 2009  H1 / 2008 Change in %
Sales kEUR 23,087 26,497 -12.9
EBITDA kEUR -1,697 -2,797* +39.3
EBIT kEUR -2,979 -6,024* +50.5
EBT kEUR -1,990 -5,386* +63.1
Liquid funds kEUR 21,933 25,154 -12.8
Equity kEUR 52,944 60,658 -12.7
Balance sheet total KEUR 62,103 73,046 -15.0

* on an adjusted basis

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

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