euro adhoc: Annual Reports
LYCOS Europe N.V. Revenue decline caused despite
cost reduction an EBITDA of EUR (10.9) million
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
quaterly report
04.08.2008
Haarlem / Netherlands, August 4, 2008 - LYCOS Europe N.V. ("LYCOS"),
one of the leading European portal providers and online advertisers,
today published its unaudited condensed consolidated interim
financial statements for the first half year 2008.The EBITDA of the first six months ended June 30, 2008 amounted to EUR (10.9) million compared to EUR (7.6) million in the reference period in 2007. Revenues decreased to EUR 33.3 million for the first six months of 2008 compared to EUR 41.2 million in 2007. The gross margin fell to 49 percent (from 55 percent last year) due to the decline. As a result of strict cost management ordinary expenses could be lowered by EUR 5.5 million.
Cash, cash equivalents and other investments amounted to EUR 145.1 million as of June 30, 2008. The cash ratio of 4.3 (cash, cash equivalents and other investments divided by total liabilities) shows the strong financial position of LYCOS Europe.
| | |Six months |Six months |Change | | | |ended |ended | | | | |June 30, 2008|June 30, | | | | | |2007 | | | | |(unaudited) |(unaudited) | | |Revenues |in mln EUR |33.3 |41.2 |(19 )% | |EBITDA |in mln EUR |(10.9) |(7.6) |(43) % | |EBIT |in mln EUR |(13.0) |(29.8) |56 % | |Net profit/(loss) |in mln EUR |(9.8) |48.7 |> (100)| | | | | |% | | | | | | | |Earnings/Loss per share |in EUR |(0.03) |0.16 |> (100)| |(diluted and undiluted) | | | |% |
Also in the near future, the company will mainly focus on the product offensive in order to stabilize the traffic. This should be supported by the launch of behavioural targeting. The growth of Lycos iQ will be fostered and further actions will be taken in the second half of 2008 to have the shopping guide portal "decido" prosper. The tight cost management will be maintained throughout the course of 2008. In the context of the strategic review process, progress is being made and LYCOS Europe expects that this process will be concluded, as planned, in the second half of 2008.
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