2waytraffic, the AIM listed interactive media content provider, today issued the following annual preliminary results for the 12 months ended 31 December 2006.
Financial Highlights
Turnover increased 533% to EUR 29.3 million (£19.7 million) versus EUR 5.5 million (£3.7 million) in 2005 driven by increasing demand for interactive content and geographic expansion
Underlying normalised EBITDA of EUR 9.1 million (£6.1 million) versus EUR 1.4 million (£0.9 million) in 2005
Strong performance of existing 2waytraffic business contributing EUR 8.4 million (£5.7 million) to normalised EBITDA prior to acquisition of ”Who Wants To Be A Millionaire?” (WWTBAM) and Celador International
Reported operating result (EBIT) of EUR 4.4 million (£3.0 million) versus EUR 0.8 million (£0.5 million) in 2005 after charging non-recurring non-cash expenses of EUR 2.9 million (£1.9 million) relating to the Company’s share schemes
Normalised PBT (result before tax) rose from EUR 1.1 million (£0.75 million) to EUR 7.7 million (£5.2 million) in 2006
Reported PBT rose from EUR 0.7 million (£0.5 million) of EUR 4.8 million (£3.2 million)
Normalised EPS amounts to EUR 0.08 (£0.05) whereas reported EPS is EUR 0.04 (£0.03).
Operational Highlights
Four acquisitions completed during the period including IPTV specialist HIPTV, mobile content business Emexus Group, content developer Intellygents and the transformational acquisition of WWTBAM and Celador International
The Company established operating companies in Eastern Europe, the Nordics, the Benelux, the UK (through Celador) and a joint venture in Spain
To support this geographical expansion 2waytraffic International was established to distribute the extended format catalogue of over 200 formats. Ed Louwerse, former head of international sales at Endemol, joined the Company on 1 February 2007 as head of 2waytraffic International
Organically, the Company has maintained its strong trading in its participation TV business, particularly in the Netherlands, Poland, Sweden and Belgium
Prime time content expansion with programmes such as WWTBAM, “Take It Or Leave It” and “Top Chef”
The Mobile Content division expanded its activities into South Africa, Indonesia and Australia
Recent contract wins include sales of “Last One Standing” in Turkey and Greece, “WWTBAM” in China, Slovakia, Slovenia and the United States (in cooperation with Buena Vista)
Commenting on the results Kees Abrahams, CEO, said: “2006 has been an extremely busy, rewarding and exciting year for 2waytraffic that saw us deliver against the ambitious strategy we set out at the time of the IPO. The strong organic growth has been driven by a combination of new format launches and international expansion. We have also been busy on the acquisition front and the benefits of the four acquisitions we have made will now start to come through for each of the acquired businesses and for the Group as a whole in the current year. The acquisitions have opened up new territories, prime time slots and an enlarged talent pool, demonstrating the excellent fit with our strategy. In 2006, good progress was made across all divisions and we are now positioned as a key player in the international market for interactive entertainment content.”
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