Preliminary/unaudited figures for 2012 financial year and outlook for first quarter of 2013

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Nuremberg, Amsterdam, February 27, 2013 – Based on preliminary figures, ad pepper media International N.V. closed the 2012 financial year with sales of EUR 55,022k. This corresponds to a decline of 1.8 percent compared with the equivalent figures for the previous year. At EUR 23,137k, gross profit more or less matched the previous year’s figure (2011: EUR 23,162k). In the fourth quarter alone, the company generated gross profit of EUR 6,770k (Q4 2011: EUR 6,319k) – the highest figure ever posted for a three-month period since the company was founded. The Webgains and ad agents segments once again acted as key growth drivers. By contrast, the ad pepper media segment had to absorb a reduction in sales by EUR 3,885k, or 15.1 percent, thus falling significantly short of expectations.
Operating expenses rose by 7.2 percent to EUR 27,768k (2011: EUR 25,892k). Key factors here included the costs incurred in connection with the departure of two members of the Management Board as of October 16, 2012 and resultant legal advisory expenses (EUR 2,752k). Furthermore, we had to write down our minority stake in SocialTyze LLC in full. This impacted negatively on the financial result with EUR 1,081k.

EBITDA for the past financial year amounts to EUR -4,165k (2011: EUR -2,218k). Excluding one-off items, EBITDA would amount to EUR -1,412k. EBIT for the past financial year amounts to EUR -4,631k (2011: EUR -2,730k), and to EUR -1,879k prior to one-off items. EBT for the 2012 financial year amounts to EUR -4,733k (2011: EUR -2,162k), and to EUR -900k excluding one-off items.

Liquid funds (including securities measured at fair value and fixed-term deposits) showed only a slight decline to EUR 15,749k (December 31, 2011: EUR 16,247k). The company still has no liabilities to banks.

Thanks to a pleasing business performance and simultaneous reduction in costs, we expect to generate balanced EBITDA for the first quarter of 2013. This would represent the best first-quarter result for three years.

The 2012 Annual Report will be published on March 29, 2013.

Key figures (unaudited) for 2012 versus 2011:

FY 2012 FY 2011 Variance in % 
Sales EUR 000s 55,022 56,019 -1.8
Gross margin EUR 000s 23,137 23,162 -0.1
EBITDA EUR 000s -4,165 -2,218 -87.8
EBIT EUR 000s -4,631 -2,730 -69.6
EBT EUR 000s -4,733 -2,162 -118.9
Liquid funds* EUR 000s 15,749 16,247 -3.1
Equity EUR 000s 18,445 22,712 -18.8
Total assets EUR 000s 32,117 35,443 -9.4

*including securities measured at fair value

For more information:
Jens Körner (CFO)
ad pepper media International N.V.
phone: +49 (0) 911 929057-0
fax: +49 (0) 911 929057-157
email: ir@adpepper.com

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Thank You!

ad pepper media managed its successful IPO at the end of 2000 as one of the last companies of the so-called Neuer Markt. This was followed by one of the worst economic crises in decades, with the dot-com bubble bursting and the 9/11-driven recession starting in 2001.

It’s now been almost 20 years since we took this daring step, and we haven’t just been resting on our laurels in the meantime. In fact, with record results and a squeaky-clean balance sheet, we’re in a healthier position today than ever before. Two decades of experience as of one of the leading performance marketing companies in Europe have also made us vigilant and prepared us for future economic headwinds.

This is something we are proud of: However, this success also makes us humble well knowing that currently many companies are struggling to survive. And with many people fearful of losing their jobs (or even their lives), we don´t think it´s the right time to celebrate. Nevertheless, we would like to say a big THANK YOU to our employees, stakeholders and everyone else who has stood by us and believed in us from the very beginning.