30.10.2013 08:57:00

Meetic: Results for the 3rd Quarter of 20131

Regulatory News:

MEETIC (Paris:MEET) (FR0004063097), the European leader in online dating, today announces its consolidated quarterly and nine months results to 30th September 2013.

  • Consolidated results to 30th September 2013 (MEETIC + Massive Media)
In millions of euros (IFRS)   30/09/2013
(9 months)
  30/09/2013
(9 months)
  30/09/2013
(9 months)
  30/09/2012
(9 months)
  Var %
 

Meetic excl.
MM

  MM   (Consolidated)  

(Consolidated =
excl. Massive
Media)

 
Revenue   126,1   8,2   134,3   122,8   9%
EBITDA* before the cost of free shares 26,6 3,1 29,7 29,2 2%
% of total revenue   21,1%   37,7%   22,1%   23,8%  
EBITDA* 26,4 3,1 29,5 27,6 7%
% of total revenue   20,9%   37,7%   22,0%   22,5%  
Operating profit 21,7 0,1 21,8 24,0 -9%
% of total revenue   17,2%   1,6%   16,2%   19,6%  
Share of profit from JV using the equity method   0,5   0,0   0,5   0,9   -42%
Net profit from maintained activities   16,2   -7,4   8,8   16,9   -48%
Net income on discontinued activities   0,0   4,2   4,2   0,0   -
Net profit 16,2 -3,2 13,0 16,9 -23%
% of total revenue   12,9%   -39,1%   9,7%   13,8%  

* Earnings Before Interest, Taxes, Depreciation and Amortization

  • MEETIC’s results to 30th September 2013 (excluding Massive Media)
In millions of euros   30/09/2013
(9 months)
  30/09/2012
(9 months)
  ? %
IFRS  

Meetic excluding Massive
Media

 

Meetic excluding Massive
Media

 
Internet 119,8 116,9 2,5%
% of total revenue   95%   95%  
Mobile 5,1 5,0 1,3%
% of total revenue   4%   4%  
Other 1,2 0,9 32,9%
% of total revenue   1%   1%  
Total   126,1   122,8   2,7%
In millions of euros   Q3 2013   Q2 2013   Q1 2013   Q3 2012   Q2 2012   Q1 2012
Internet   40,4   39,8   39,6   38,8   39,0   39,1
Mobile 1,7 1,7 1,7 1,8 1,6 1,7
Other   0,4   0,5   0,3   0,3   0,3   0,3
Total   42,5   42,0   41,6   40,8   40,8   41,2

MEETIC’s revenue (excluding Massive Media) for the first nine months of 2013 increased by 2.7% to €126.1 million.

MEETIC’s subscribers (excluding Massive Media) for the first nine months of 2013 increased by 72,998 or 9.5% year over year to 840,801 as of September 30th, 2013.

Marketing Expenses (excluding Massive Media)
Marketing expenses totalled €62.0 million for the first nine months of 2013, corresponding to 49.2% of revenue, compared with €58.2 million or 47.4% of revenue over the first nine months of 2012. The increase is timing only and reflects planned initiatives in the current year period.

Other expenses (excluding Massive Media)
Other expenses increased by €2.1 million, excluding cost of free shares, from €35.4 million for the first nine months of 2012 to €37.5 million over the same period of 2013. The increase reflects product development costs and includes a €0.3 million charge in connection with the relocation of the Company’s head offices.

EBITDA margin: 20.9% - EBITDA margin before the cost of free shares: 21.1% (excluding Massive Media)
Earnings before Interest, Taxes, Depreciation and Amortisation (EBITDA) totalled €26.4 million for the first nine months ending the 30th September 2013, compared with €27.6 million for the prior year period. The current year period was impacted by the aforementioned increase in marketing expenses and product development costs.

Net profit: €16.2 million (excluding Massive Media)
MEETIC’s net profit totalled €16.2 million for the first nine months ending the 30th September 2013, compared with €16.9 million for prior year period.

  • MASSIVE MEDIA‘s contribution to MEETIC Group Consolidated results to 30th September 2013

Massive Media, the company behind Twoo.com, was acquired by MEETIC and consolidated in January 2013.

As of 31st July, the group proceeded to a retroactive demerger as of 1st January 2013 of Massive Media NV. The demerger split the company into two new companies: Massive Media Europe, which leads the European activities and Massive Media Match, which leads the non-European activities. Massive Media Match has been sold to Match.com France limited on the 31st July 2013.

Massive Media Europe reached 95,603 subscribers at 30th September 2013.

  • Consolidated Net Cash position: € 66.4 million

At 30th September 2013, the Group had a net cash position of €66.4 million, compared with €63.4 million at 31st December 2012.

About Meetic Group, European online dating leader (www.meetic-corp.com):
Meetic manages online dating services, mainly under the meetic, meetic affinity, match and twoo brands, and markets two highly complementary economic models on the dating market, one based on internet use, the other on mobile phones. From inception, the group has pursued a clear leadership strategy focusing on quality, innovative marketing and perfect technological expertise. Meetic works hard to optimise service quality and to satisfy every possible expectation of its European subscribers. IAC/InterActiveCorp is Meetic’s main shareholder, with an 88% stake.

Listed on Euronext Paris - Compartment B of the NYSE Euronext
ISIN: FR0004063097

* * * *

2013 annuals results will be published on:
5th February 2014, before market

1 Unaudited.

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