euro adhoc: Annual Reports
Lycos Europe N.V. closes the financial year 2007
with a EUR (18.2) mln EBITDA loss and due to special items with a net profit of
EUR 40.1 mln
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
annual report
26.02.2008
Haarlem / Netherlands, February 26, 2008 - LYCOS Europe N.V.
("LYCOS"), one of the leading European portal providers and online
advertisers, today published its consolidated financial statements
for the year ended December 31, 2007.The EBITDA for the year ended December 31, 2007 amounted to EUR (18.2) million compared to EUR (4.6) million in the reference period in 2006. The main reasons are the negative advertising revenue development of own products, which could not be compensated by the growing third party advertising revenues, the increase in paid service and shopping revenues together with a reduced margin due to the change in the revenues mix, a general margin decrease in the Shopping business, an increase in cost of revenues partly related to the move to a new data center and additional marketing initiatives for LYCOS iQ.
The net profit increased to EUR 40.1 million for 2007 compared to 2006 (EUR 1.7 million). This strong increase in profit is mainly driven by the disposal of several investments and the disposal of the Swedish Access business.
Cash, cash equivalents and other investments increased to EUR 157.2 million as at December 31, 2007 compared to EUR 93.3 million as at December 31, 2006. This
leads to a cash ratio of 4.1 (cash, cash equivalents and other investments divided by total liabilities), which shows the strong financial position of LYCOS Europe.
| | |Year ended |Year ended |Change | | | |December |December | | | | |31, 2007 |31, 2006 | | | | | | | | |Revenues |in mln EUR |76.7 |82.4 |(7)% | | | | | | | |EBITDA |in mln EUR |(18.2) |(4.6) |>(100)% | | | | | | | |EBIT |in mln EUR |(44.0) |(13.1) |>(100)% | | | | | | | |Net profit |in mln EUR |40.1 |1.7 |>100% | | | | | | | | | | | | | |Earnings per share |in EUR |0.13 |0.01 |>100% | |(diluted and | | | | | |undiluted) | | | | |
In 2008 the goal is to continue our focus on growth areas consistently. LYCOS Europe will focus on and accentuate the areas of advertising and shopping. The Company believes that the combination of creative product development and the capability for technological innovation will enable LYCOS Europe to differentiate itself from other participants in the market and to generate a sustained competitive advantage.
About Lycos Europe Lycos Europe (ISIN NL0000233195) is one of the leading European portal providers and online advertisers operating a network of websites in seven languages in Europe and the USA. The company's combination of search, communication services, online communities, content channels, shopping, homepage building and domain names registration addresses a wide range of target groups.
end of announcement euro adhoc
Further inquiry note:
|LYCOS Europe |LYCOS Europe |
|Investor Relations |Public Relations |
|Sebastian Giese |Frauke Riva |
|T: +49-(0)5241-80-71135 |T: +49-(0)5241-80-71050 |
|F: +49-(0)5241-80-671135 |F: +49-(0)5241-80-671050 |
|E: sebastian.giese@lycos-europe.com |E: frauke.riva@lycos-europe.com |
Branche: Software
ISIN: NL0000233195
WKN: 932728
Index: Prime All Share, Technologie All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse Hannover / free trade
Euronext - Paris / free trade
Börse München / free trade