ad pepper media International N.V. with double-digit revenue growth; upgrade of profit forecast for the financial year 2010

Nuremberg, Amsterdam, 14 July 2010 – In the second quarter of 2010, ad pepper media International N.V.`s revenue grew by 12.4 percent to kEUR 12,889 (Q2 2009: kEUR 11,468). In the first six month of 2010 revenue totalled kEUR 24,884 (H1 2009: kEUR 23,087). On a proforma basis, i.e. taking the discontinuation of activities in Italy into consideration, in the first six months of the current fiscal year, ad pepper media International N.V.`s revenues grew by 11.0 percent against the same period of the previous year, while gross margin slightly outpaced revenue growth with 11.2 percent. The key growth drivers were once again the Webgains (Affiliate marketing) and ad agents (SEO and SEM) segments where sales were up by 30.8 and 20.3 percent respectively against the same period of the previous year. Positive developments were also identified in the ad pepper media segment which recorded growth of 4.5 percent for the second quarter, while an amount of kEUR 14,220 was achieved for the first six month, which was only slightly below the results achieved during the same period of the previous year (kEUR 14,714).

Profitability increased significantly, compared to the previous year: In the first half of 2010, earnings before interest, taxes and deprecation and amortisation (EBITDA) totalled kEUR 691 (H1 2009: kEUR -1,697), earnings before interest and taxes (EBIT) totalled kEUR 322 (H1 2009: kEUR -2,979) and earnings before taxes (EBT) totalled kEUR 1,055 (H1 2009: kEUR -1,990). Net income for the period totalled kEUR 1,051 and was also clearly positive (H1 2009: kEUR -1,998).

The cash item (liquid funds, including securities at fair value and time deposits) remained at a continuously high level of kEUR 21,846 (31 December 2009: kEUR 22,602), with no debt. Equity ratio as per 30 June 2010 is at 70 percent (31 December 2009: 65 percent).

Due to the dynamic development of sales and EBITDA in the first six months of the fiscal year we remain optimistic about the year as a whole despite the traditionally weaker summer quarter ahead. As a consequence, we are raising our profit forecast for the financial year 2010, and expect to achieve an EBITDA of at least kEUR 1,500.

The half-year report will be published on 12 August 2010.

Key figures (unaudited) for the financial year 2010 vs. 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