Boulogne-Billancourt – MEETIC, holding company of NEU.DE and the European leader in online dating, today announces its consolidated quarterly and 9 months results to 30th September 2012.
Consolidated revenue
Revenue for the 9 first months of 2012 totalled 122.8 million euros, reflecting a 4% decrease in the number of subscribers, which totalled 767,803 at 30th September. The third quarter revenue remained stable compared to the previous quarter.
Improvement of the marketing efficiency:
Marketing expense for the first nine months of the year totalled €58.2 million, or 47.4% of revenue, versus €80.7 million and 59.3% of revenue for the first nine months of 2011.
EBITDA: +44.3%
As a consequence of the marketing expense leverage, profitability improved significantly, with EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) coming to €27.6 million at 30th September 2012 compared to €19.2 million at 30th September 2011. The EBITDA margin was thus 22.5% at 30th September 2012.
Net profit: +38.9%
Net profit for the first nine months of 2012 came to €16.9 million giving a net profit of 13.8%, compared to 9.0% over the same period of 2011.
Cash flow
At 30th September 2012, the Group had a net cash position of €63.2 million and no debt. This compares to a net cash position of €33.1 million at 31st December 2011 and €47.2 million at 30 June 2012 with no debt in the respective periods.
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