26-09-2006 Interim Results 2006 for the six months to 30 June 2006
Highlights
Turnover increased 624% to EUR 8.97 million (£6.3 million) versus EUR 1.2 million (£0.9 million) in H1 2005 driven by increasing demand for interactive content and geographic expansion
Underlying normalised EBITDA of EUR 1.9 million (£1.3 million), versus a loss of EUR 0.2 million (£0.1 million) in H1 2005
Reported operating loss of EUR 0.6 million versus EUR 0.4 million after charging non-recurring non-cash expenses of EUR 2.3 million at the time of IPO relating to the Company’s employee benefit trust
Normalised PBT rose from a loss of EUR 0.2 million (£0.1 million) to a profit of EUR 2.1 million (£1.5 million) (pre EBT costs)
Successful flotation in April 2006 raised EUR 35 million (£24.3m) to fund organic growth and selective acquisitions
Acquisition of Emexus Group strengthens mobile content business
Prime time content expansion through acquisition of Intellygents, including first move into the UK market with the interactive game show, “Take it or leave it” and into the USA (GSN) and Poland (TVP2) with daily game show “That’s the Question”.
Entered exclusive negotiations with Celador to purchase the international rights to “Who wants to be a Millionaire” and the content library of Celador International Limited (CIL). Negotiations on track, with completion expected by mid-November
The Group has also continued to extend its geographical reach with the creation of 2waytraffic Hungary, 2waytraffic Nordic AB and the creation of a Spanish Joint Venture.
Commenting on the results Kees Abrahams, CEO, said: “During the first half we have achieved several significant steps and are already delivering against the strategy that we set out at the time of our IPO in April. The Television and Mobile divisions are performing well and the acquisitions of Emexus Group and Intellygents have strengthened our product offer and opened up new geographical markets. The Digital division is making steady progress, however, it is still in its infancy as is the general market for online television broadcasting. “The second half has started well with the momentum of the first half being maintained. Negotiations with Celador are progressing according to plan and we are already beginning to see the benefits of our recent acquisitions. The business is now positioned to be a major player in the roll out of interactive content.”
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