net mobile AG
net mobile AG: net mobile AG publishes results for first half of 2014
net mobile AG / Key word(s): Half Year Results/Interim Report CORPORATE NEWS net mobile AG publishes results for first half of 2014 – net mobile AG revenues increased by 29% on same period last year with revenue of EUR 75.9 million (Q1-Q2 2013: EUR58.8 million). – net mobile AG continued on the path of profitability and finish the first half with an EBITDA of EUR 5.1 million (Q1-Q2 2013: loss of EUR 2.1 million) Dusseldorf, September 30, 2014 – net mobile AG (ISIN: DE0008137852), is a leading international full-service provider of mobile value-added services and payment solutions. The company initiated a series of measures in 2013 to discontinue non-profitable business activities and streamlined other business units with a leaner personnel structure. The company continued to implement these initiatives in the first half of 2014 and the organisational structure to support that. The organisational structure is divided into four customer-oriented sales segements: “Reselling“, “Carrier & OTT“, “Online & TV” and “Bank/PSP“. The revenues for the first six months of 2014 increased by 29% to EUR75.9 million with all segements positively contributing towards growth during the period. The main growth in revenues came from “Carrier & OTT” and “Reselling” segement which achieved 28% and 27% growth on same period last year respectively. As part of new organisational structure, the company also introduced some reclassification of costs between Cost of Sales and cost below gross profit. The reclassification will increase the Gross profit for Q1-Q2 2013 by EUR 5.7 million to EUR11.5 million and increase the cost below gross profit by the same amount. The Gross profit (after above reclassification) increased by 54% to EUR17.7 million and the gross margin improved from 19.5% to 23.2% compare to the same period last year. The increase in gross profit (after above reclassification) was mainly driven by high margin segment “Carrier & OTT” where the margin grew due to activity with NTT DOCOMO Inc. (DOCOMO), our majority shareholder. The EBITDA (after valuation adjustments) for first six months also improved by EUR7.0 million to EUR5.1 million (Q1-Q2 2013: loss EUR1.9 million). The EBIT improved by EUR8.7 million to a small loss of EUR0.6 million (Q1-Q2 2013: loss EUR9.3 million). The equity ratio increased from 10.6% to 11.6% in the first six month of the year due to increase in profits and decrease in total assets. In the first six months of the year, non-banking operations (excluding net-m Privatbank 1891 AG) generated small negative operating cash flow of EUR0.1 million and Net financial debt was increased by EUR 0.2 million to EUR45.6 million. The banking operations of net-m Privatbank 1891 AG generated negative cash flows of EUR35.0 million due to the reduction in customer deposits held by the bank which at the end of first quarter was around EUR140m. The decline in customer deposits was as a result of drop in interest rates offered to customers by the net-m Privatbank 1891 AG. For the group, the first quarter ended with a negative cash flow of EUR35.2 million with cash and cash equivalents of EUR95.4 million (2013: EUR130.6 million). Outlook The company’s new directional focus on its successful core areas (in particular the payment business) strengthened and achieved a positive improvement in revenue in these areas in the first quarter of 2014. net mobile’s major shareholders continue to provide strong financial support and assist in further development of the business. The measures taken by the Company have already started to show positive effect and this improvement is expected to continue in the foreseeable future. This has motivated the net mobile management to focus on tackling the tasks ahead with an aim to drive cost efficiency and to further strengthen efforts to expand profitable businesses within our core areas. About net mobile AG If you have any further questions, we will be most happy to help. We will gladly establish a direct contact to the responsible person at net mobile AG. Contact Person Follow us on Twitter: twitter.com/netmobileag
30.09.2014 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | net mobile AG | |
Fritz-Vomfelde-Str. 26-30 | ||
40547 Düsseldorf | ||
Germany | ||
Phone: | +49 (0)211 970 20-0 | |
Fax: | +49 (0)211 970 20-999 | |
E-mail: | info@net-m.de | |
Internet: | www.net-mobile.com | |
ISIN: | DE0008137852 | |
WKN: | 813785 | |
Listed: | Freiverkehr in Berlin, Hamburg, München (m:access), Stuttgart; Frankfurt in Open Market | |
End of News | DGAP News-Service |
289464 30.09.2014 |