* Limited review procedures have been carried out on half year consolidated accounts. The issue of the limited review report is in progress.
Boulogne-Billancourt, 25th July 2012 – MEETIC (MEET – FR0004063097), the European leader in online dating, today announces its consolidated quarterly and half-year results to 30th June 2012, approved by the Board meeting of 23rd July 2012.
Revenue for the 1st half of 2012 totalled 82.0 million euros, and integrates a 13.2% decrease in the number of subscribers, which totalled 733,158 at 30th June.
ARPU (Average Revenue Per User) was €17.48 over the 1st half of 2012, almost stable compared to the first half of 2011 (€17.53) and higher than the second half of 2011 (€16.9).
Marketing expenses for the first six months of the year totalled €39.0 million, or 47.6% of revenue, versus €58.3 million and 63% of revenue for the 1st half of 2011.
EBITDA: +87%
As a consequence of this lower rate of investment, profitability improved significantly, with EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) coming to €19.1 million at 30th June 2012 compared to €10.2 million at 30th June 2011. The EBITDA margin was thus 23.2% at 30th June 2012 and 34.0% for the second quarter alone.
Net margin: 14.6%
Net profit for the 1st half of 2012 came to €11.9 million giving a net margin of 14.6%, compared to 6.5% for the 1st half of 2011.
Cash flow
At 30th June 2012, the Group had a net cash position of €47.2 million and no debt. This compares to a net cash position of €33.1 million at 31st December 2011.
Meetic manages two services in Europe: online dating and matchmaking, mainly under the Meetic and Meetic Affinity brands, and markets two highly complementary economic models on the dating market, one based on internet use, the other on mobile phones. By acquiring the European activities of world leader
match.com in June 2009, Meetic has strengthened its first place on the continent. The group is currently established in 15 European countries, and is available in 11 languages. From inception, the group has pursued a clear leadership strategy focusing on quality, innovative marketing and perfect technological expertise. Meetic works hard to optimize service quality and to satisfy every possible expectation of its European subscribers. IAC/InterActiveCorp is Meetic’s main shareholder, with an 81% stake.
Listed on Euronext Paris – Compartment B of the NYSE Euronext – ISIN: FR0004063097
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Results for the 3rd quarter of 2012 will be published on 24th October 2012, before market.