• ADLPartner: STRONG EARNINGS GROWTH FOR THE FIRST HALF OF 2018

    ソース: Nasdaq GlobeNewswire / 28 9 2018 12:00:03   America/New_York

    ADLPartner: STRONG EARNINGS GROWTH FOR THE FIRST HALF OF 2018

    The ADLPartner Group is releasing its earnings for the first half of 2018. Operating income came to €5.4m, representing 9.3% of net sales, compared with 6.0% for the first half of 2017. Net income (Group share) is up to €3.8m, versus €2.1m the previous year.

    HIGHLIGHTS

    The Group has optimized the operations in its press service business and maintained significant commercial investments in its direct marketing insurance brokerage business. For the marketing services business, sales have progressed, driven by the consolidation of the company Leoo since July 2017.

    EARNINGS

    Net sales[1] totaled €58.2m, down 4.6% from the first half of 2018, while the gross sales volume[2] is down 5.2% to €133.1m.

    Operating income climbed to €5.4m for the first half of 2018, up 49% from the first half of 2017. This change primarily reflects: i/ the lower level of commercial investments in the open-ended subscription business during the first half of 2018, ii/ the reduction of the loss for the subsidiary ADLP Assurances, and iii/ the improvement in earnings for the Spanish subsidiary.

    Following a higher tax expense (€2.1m) and the share of earnings for the company Converteo (€0.3m) in particular, net income (Group share) is up 82% from the first half of 2017 to €3.8m.

    Consolidated data (€m) H1 2018 H1 2017
    restated [3]
    Change
    Net sales 58.20 61.01 -4.6%
    Operating income
    % of net sales
    5.41
    9.3%
    3.63
    6.0%
    +48.9%
    Net income (Group share)
    % of net sales
    3.84
    6.6%
    2.11
    3.5%
    +82.2%

    FINANCIAL STRUCTURE

    The Group's shareholders' equity represented €21.4m at 30 June 2018, virtually stable compared with 31 December 2017, factoring in half-year earnings and the ordinary dividend paid out for FY 2017 (€4.0m).

    The Group's net cash position remains strong, with €31.5m at 30 June 2018, versus €31.8m at 31 December 2017 and €25.2m at 30 June 2017.

    Net asset value[4] (Group share), calculated based on shareholders' equity and the value of the active open-ended magazine subscription portfolio, represented €119.8m at 30 June 2018, with €30.32 per share excluding treasury stock. It does not include the insurance contract portfolio.

    OUTLOOK

    The ADLPartner Group is rolling out a strategy to create value and capitalize on its marketing expertise and solutions with a view to improving its profile for growth and profitability. Its continued commercial investments in the open-ended subscription business and the ADLP Assurances subsidiary in 2018 are enabling it to develop its portfolios of contracts generating recurrent revenues. Alongside this, the Group is further strengthening its marketing services solutions, with the consolidation of the company Converteo in the second half of the year, which will have a positive impact on full-year net sales.

    Additional information

    The Management Board approved the consolidated financial statements on 21 September 2018 and the Supervisory Board confirmed on 28 September 2018 that it did not have any observations concerning the consolidated financial statements at 30 June 2018. The accounts have been subject to the usual limited review by the statutory auditors for half-year accounts. The half-year financial report is available on the company website at www.adlpartner.com

    Next date: 2018 third-quarter net sales on 30 October 2018 (after close of trading)

    ADLPartner in brief

    As a specialist in relational marketing, ADLPartner designs, markets and implements customer relationship management and loyalty services on its own behalf or for its major partners (banks, retailers, services, e-commerce, etc.).
    ADLPartner is listed on the regulated market Euronext Paris - Compartment C.
    ISIN: FR0000062978-ALP - Bloomberg: ALP:FP - Reuters: ALDP.PA
    www.adlpartner.com

    CONTACTS

    ADLPartner
    Investor Relations & Financial Information
    Tel: +33 1 41 58 72 03
    relations.investisseurs@adlpartner.fr

     
    Calyptus
    Cyril Combe
    Tel: +33 1 53 65 68 68
    adlpartner@calyptus.net

     



    [1] Net sales (determined in line with the French professional status for subscription sales) only include the amount of remuneration paid by magazine publishers; for subscription sales, net sales therefore correspond to a gross margin, deducting the cost of magazines sold from the amount of sales recorded. For acquisition and management commissions linked to sales of insurance policies, net sales comprise current and future commissions issued, acquired by the accounting reporting date, net of cancellations.

    [2] Gross sales volume represents the value of subscriptions and other products sold. It is equal to net sales for the insurance business.

    [3] The ADLPartner Group has applied IFRS 15 since 1 January 2018. To present comparable data between financial years, net sales for the first half of 2017 have been restated.

    [4] Net asset value represents the amount of equity plus the discounted value of future net revenues generated by the active open-ended subscription portfolio.




    This announcement is distributed by West Corporation on behalf of West Corporation clients.
    The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
    Source: ADLPARTNER via Globenewswire

シェアする