ADLPartner: 2017 FIRST-HALF EARNINGS
29 Septembre 2017 - 6:00PM
PRESS RELEASE
Paris, 29 September 2017 (6pm)
ADLPartner: 2017
FIRST-HALF EARNINGS
COMMERCIAL INVESTMENTS RAMPED UP
The ADLPartner
Group is releasing its earnings for the first half of 2017.
Operating income came to €3.6 million, representing 5.8% of net
sales, compared with 7.8% for the first half of 2016. Net income
(group share) came to €2.1 million, versus €3.0 million the
previous year.
HIGHLIGHTS
During the first half of 2017,
ADLPartner significantly increased its commercial investments with
a view to developing its portfolios of contracts generating
recurrent revenues. The Group has further strengthened the
marketing mixes for its partnership-based open-ended subscription,
while maintaining a high level of commercial investments in its
recent direct marketing insurance brokerage business. The strong
growth in sales for marketing services notably reflects the
consolidation of Activis since October 2016.
EARNINGS
Net sales[1] are up 4.7%
from the first half of 2016 to €62.1 million, with the gross sales
volume[2] climbing
3.7% to €140.4 million.
Operating income totaled €3.6
million for the first half of 2017, compared with €4.6 million for
the first half of 2016. This change primarily factors in: i/ an
increase in commercial investments, and ii/ a contraction in the
operating margin in Spain faced with a particularly high basis for
comparison from 2016.
Net income (group share)
represents €2.1 million, compared with €3.0 million for the first
half of 2016.
Consolidated data (€m) |
H1 2017 |
H1 2016 |
Net sales |
62.13 |
59.32 |
Operating income % of net sales |
3.63 5.8% |
4.65 7.8% |
Net income (group share)
% of net sales |
2.11 3.4% |
3.00 5.1% |
FINANCIAL STRUCTURE
The Group's shareholders' equity
represented €21.8 million at 30 June 2017, down €1.6 million from
31 December 2016, factoring in half-year earnings and the ordinary
dividend paid out for FY 2016 (€4.0 million).
While investments have been
stepped up, the Group still has a strong net cash position, with
€25.2 million at 30 June 2017, versus €28.8 million at 31 December
2016 and €22.4 million at 30 June 2016.
Net asset value[3]
(group share), calculated based on shareholders' equity and the
value of the active open-ended magazine subscription portfolio,
represented €124.1 million at 30 June 2017 or €31.38 per share
excluding treasury stock.
OUTLOOK
The ADLPartner Group is rolling
out a strategy to create value and capitalize on its marketing
expertise and solutions in new growth markets. Full-year
consolidated earnings will be affected by the higher level of
commercial investments in the open-ended subscription and the ADLP
Assurances subsidiary, as well as LEOO's consolidation from the
second half of the year. Ultimately, the Group's actions are
focused on improving its profitability and growth profile.
ADDITIONAL
INFORMATION
The Management Board approved the
consolidated financial statements on 22 September 2017 and the
Supervisory Board confirmed on 29 September 2017 that it did not
have any observations concerning the consolidated financial
statements at 30 June 2017. 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's website at www.adlpartner.com.
Next date: 2017 third-quarter
net sales on 26 October 2017 (after close of trading)
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
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] Net asset
value represents the amount of equity plus the discounted value of
future net revenues generated by the active open-ended subscription
portfolio.
2017 half year earnings
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions 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