LeGuide.com Group : LeGuide.com Group : FINANCIAL RESULTS FOR 2012 Strong organic growth (+16%) - High operating margin (19%) - Priority on innovation Press release Paris, 25^th February 2013 FINANCIAL RESULTS FOR 2012 Strong organic growth (+16%) High operating margin (19%) Priority on innovation 2012 was a year of significant expansion for the LeGuide group with the acquisition of Ciao, making the group the European leader in shopping guides with 28.3 million unique visitors^(1), and the takeover offer by Lagardère Active, which today holds a 96.49% interest in the group. Net Sales grew strongly and the operating margin reached 19%. Motivated by an ambitious strategy combining innovation and market share gains, the group intends to maintain this growth momentum in 2013. Acceleration in organic growth (+16%), particularly in the fourth quarter (+24%) In a dynamic e-commerce market, the LeGuide.com group reported Net Sales of €43.8 million in 2012, up 16% like-for-like from a year earlier. On a reported basis, Net Sales increased by 55% following the consolidation of Ciao, acquired on 19 March 2012. Organic growth accelerated in the fourth quarter to 24% year-on-year. Move to IFRS To harmonise its accounting method with that of the Lagardère group, LeGuide is now reporting its financial statements under IFRS rules. Comparative tables of 2011 financial statements under French accounting Gaap and IFRS are provided in the appendices to this press release. High operating margin (19%) Audit procedures on the financial statements and consolidated financial statements have been completed, the certification report is being issued. Consolidated Audited account, M€ 2012 2011 IFRS IFRS Net Sales 43,8 28,2 RESOP ( Recurring Ebit) 8,2 9,5 Acquisition cost (1,3) (0,3) Impairment losses on goodwill and intangible assets - (6,1) EBIT 6,9 3,1 Financial Result 0,3 0,4 Net Income Before Tax 7,2 3,5 Income tax Expenses (2,7) (3,2) Consolidated Net Income 4,5 0,3 Attribuable Minority Interests - - Net Income - Group Share 4,5 0,3 Adjusted operating income amounted to €8.2 million and the operating margin reached 19%. The group's profitability was boosted by strong organic growth and the faster-than-expected recovery in Ciao's profitability. But it was impacted by investments in innovation and organisational structures, marketing expenditure and €1.8 million of non-recurring costs linked to the consolidation of Ciao and the takeover offer. After €1.3m of fees related to the acquisition of Ciao, income before financial charges and tax totalled €6.9 million. After a positive financial result of €0.3 million and €2.7 million of tax charges, net income, group share, stood at €4.5 million. A very solid balance sheet With €41.6 million of shareholders' equity, €23.4 million of net cash position, the LeGuide group boasts a very solid balance sheet. An ambitious market share expansion strategy with a priority on innovation The new management team intends to strengthen the group's leadership by placing a priority on innovation for internet users, e-merchant clients and the group. *Internet users: the group is tailoring its offer to rapid changes in the behaviour of internet users. Thanks to the launch of a mobile site, which has already attracted 1.7 million unique visitors^(2), and a Windows 8 application, the group has a multi-device offer today on the web, mobile handsets and tablets. The LeGuide group is also one of the first French shopping guides to offer a web-to-store service that allows internet users to locate products in physical stores. The group has also extended its offer to a new and particularly dynamic segment: marketplaces. In addition to the products of Amazon marketplace and PriceMinister, it will extend its offer as of 1 March to the marketplaces of La Redoute, Rue du Commerce and Pixmania. *For e-merchant clients: to improve transparency and ease of use for its clients, the group has introduced a unique billing system with simplified prices. As such, its e-merchant clients have access to the group's entire network of 28 million unique visitors in 14 countries and through five families of internet sites with an integrated offer. *For the group: by introducing a single platform for all its internet sites, the LeGuide group now has a powerful tool that provides a platform for rapid expansion. Olivier Sichel, Chairman and CEO of the LeGuide group, commented: "We have strong ambitions for the LeGuide group. We wish to strengthen our leading position and continue gaining market share through a differentiated strategy focusing on innovation. We are now ready to pursue the group's rapid expansion. The major phases of Ciao's integration have been successfully completed and we have harnessed synergies by pooling our customer bases. Our objective is to combine organic growth and a targeted acquisitions strategy over coming years". Next Publication: First-quarter 2013 Net Sales on April 25, 2013 after closing. About the LeGuide group The LeGuide group, a publisher of online shopping guides, comparison websites, shopping search engines and platforms for consumer ratings, is number one in Europe with 28.3 million unique visitors^(1). With a team of 200 employees, the group operates in 14 European countries through a multi-site strategy based around a number of subsidiaries, including leGuide.com, Ciao, dooyoo.com, mercamania.com and choozen.com. The group, which lists 155 million offers from 79,600 e-merchants, generated revenue of €43.8 million in 2012. LeGuide.com has been certified as an "Innovative company" by OSEO (a French public agency that supports SMEs) and is listed on the Alternext board of NYSE Euronext Paris (ticker: ALGUI; ISIN code: FR0010146092). (1)Source: Comscore, December 2012 (2)Source: Médiamétrie Netratings, December 2012 LeGuide.com Anaïs de Scitivaux Olivia Fuchs +33 (0)1 56 88 11 14 +33 (0)1 55 43 37 29 email@example.com finance@LeGuide.com For more information:www.LeGuide.com/finance APPENDICES COMPARATIVE SIMPLIFIED FINANCIAL STATEMENTS FOR 2011 UNDER FRENCH GAAP AND ifrs Audit procedures on the financial statements and consolidated financial statements have been completed, the certification report is being issued. 2011 Consolidated income statement under IFRS Consolidated audited 2011 Gap 2011 accounts, M€ French Gaap IFRS Net Sales 28,2 - 28,2 RESOP ( Recurring Ebit) 9,3 Research tax credit (+0,2) 9,5 Acquisition costs(-0,3) Other non-recurring items - Impairment losses on goodwill (-6,4) and intangible assets(-6,1) EBIT 9,5 3,1 Financial result 0,4 0,4 Net Income before tax 9,9 3,5 Income tax expenses (3,3) Goodwill (+0,1); Research tax (3,2) credit (-0,2) Consolidated net income 6,6 0,3 Goodwill Depreciation (6,1) Goodwill Depreciation (+6,1) - Net Income - Group Share 0,5 0,3 2011 Consolidated Balance Sheet under IFRS Audited accounts, M€ 2011 Gap 2011 French Gaap IFRS ASSETS Other non-current assets: goodwill Non current assets 3,8 (-0,2) 3,7 Deferred taxes: reclassification current /non-current(+0,1) Current Assets 41,4 Other current assets: 41,3 Including cash 34,8 reclassification current/ non 34,8 -current (-0,1) TOTAL ASSET 45,2 45,0 LIABILITIES Shareholders Equity 35,7 Acquisition costs net of tax(-0,2) 35,5 Non current financial debt: Non current liabilities 0 reclassification current/non current 1,3 (+1,3) Current financial debts: Current liabilities 9,5 reclassification current / non 8,1 current (-1,3) TOTAL LIABILITIES 45,2 45,0 SIMPLIFIED FINANCIAL STATEMENTS FOR 2012 under ifrs Audit procedures on the financial statements and consolidated financial statements have been completed, the certification report is being issued. Consolidated Income Statement Consolidated Audited account, M€ 2012 2011 IFRS IFRS Net Sales 43,8 28,2 RESOP ( Recurring Ebit) 8,2 9,5 Acquisition cost (1,3) (0,3) Impairment losses on goodwill and intangible assets - (6,1) EBIT 6,9 3,1 Financial Result 0,3 0,4 Net Income Before Tax 7,2 3,5 Income tax Expenses (2,7) (3,2) Consolidated Net Income 4,5 0,3 Attribuable Minority Interests - - Net Income - Group Share 4,5 0,3 Consolidated Statement of Cash Flows Consolidated audited account, M€ 2012 2011 Gross cashflow 7,4 7,1 Changes in Working Capital (0,5) 0,3 Cash generated from operating activities 6,9 7,4 Cash used in investing activities (16,5) (0,8) Capital increase 0,7 0,1 Financial debt decrease (1,3) (1,3) Cash used in financial activities (0,6) (1,2) NET CASH FROM OPERATING, INVESTING AND FINANCIAL ACTIVITIES (10,1) 5,4 Cash at start of the period 34,8 29,4 Cash at end of the period 24,7 34,8 Consolidated Balance Sheet Consolidated Audited Account, M€ 2012 2011 IFRS IFRS ASSETS Non Current Assets 18,9 3,7 Current assets 38,1 41,3 Including cash 24,9 34,8 TOTAL ASSETS 57,0 45,0 LIABILITIES Shareholders Equity 41,6 35,5 Non Current Liabilities 0,3 1,3 Current Liabilities 15,0 8,1 TOTAL LIABILITIES 57,0 45,0 LeGuide_Results2012 ------------------------------------------------------------------------------ This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: LeGuide.com Group via Thomson Reuters ONE HUG#1680954
LeGuide.com Group : LeGuide.com Group : FINANCIAL RESULTS FOR 2012 Strong organic growth (+16%) - High operating margin (19%) -
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