aufeminin: good operating performance in 2016 Revenue +14%* to 107.3m, EBITDA +10%* to 24.7m with a margin of 23%

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Gwendoline Summers
5 years ago
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1 aufeminin: good operating performance in 2016 Revenue +14%* to 107.3m, EBITDA +10%* to 24.7m with a margin of 23% Paris, 8 March, :00 PM - aufeminin (ISIN: FR , Ticker: FEM), 1 st creator of communities, announces its annual results for the year to 31 December, 2016, as approved by the Board on 8 March, Marie-Laure Sauty de Chalon, CEO of Groupe aufeminin, says: In 2016, aufeminin recorded a substantial increase in its activity, with a profitability level that remains high, reflecting the success of the ongoing transformation of its business model towards programming and social e-commerce. Continuing to unite communities over their fields of interest, the Group will pursue the creation, publication and monetisation of the best content, the cornerstone of its brands development, to ensure further profitable growth. Financial summary - published data: consolidation of Livingly Media from 1 January in 2016 vs. 1 March in 2015 (post acquisition) and reclassification of Smart AdServer, divested on 30 April 2015, as net profit from divested activities in millions audited figures Δ 2015* Revenue % 94.4 EBITDA (1) % 22.5 as a % of revenue 23.0% 25.2% 23.8% Attributable net profit (2) Operating cash flow % Net cash position at close (1) EBITDA: Earnings Before Interest, Taxes, Depreciation and Amortisation. (2) In 2015, the Group recorded non-current operating income of 26.7 million associated with the divestment of Smart AdServer. Buoyant growth in activity In 2016, the aufeminin group s revenue totalled million, up 15%, including the scope effect of Livingly Media, acquired on 1 March On a comparable basis, i.e. consolidation of Livingly Media from 1 January 2015 and at constant currency, the Group s revenue growth was 14%. * comparable basis: consolidation of Livingly Media from 1 January 2015 and at constant currency 1

2 On the French market, the aufeminin group continued to record very satisfactory performances, +9% to 51.5 million with an acceleration in its growth over the second half of the year. International activity recorded buoyant growth of +22.1% to 55.9 million: My Little Paris, thanks to the diversification of its revenue and the launch of its offers abroad, notably in Japan, is continuing to record buoyant growth; On aufeminin s European sites, the financial year saw another decrease in Display Advertising, notable in Spain; In the United States, the strategic repositioning of Livingly Media resulted in further buoyant growth in its activity. 23% EBITDA margin, reflecting the Group s business mix Total operating expenses came to 82.7 million, up almost 19%. The increase in personnel costs alone was limited to 7%, whilst the increase in other operating expenses was notably a result of Livingly Media s strong growth. With EBITDA of 24.7 million, up 5%, the EBITDA margin was 23% in 2016 versus 25.3% in On a comparable basis (consolidation of Livingly Media from 1 January, 2015 and constant currency), EBITDA was up 10% with a limited decrease of 80 bp in the margin. The high level of profitability of the majority of the Group s operations thus allowed it to offset the impact of the decrease in Display Advertising and the increase in audience acquisition costs associated with the sharp increase in programming. Excluding non-recurrent operating elements, and notably income of 26.7 million associated with the divestment of Smart AdServer in 2015, current operating profit was 17.8 million, up 28%, and the current operating margin jumped to 16.5%, compared with 14.9% in Once, in particular, tax of 5.6 million and minority interests of 1 million are taken into account, attributable net profit was 11.0 million. High EBITDA conversion rate, net cash position up 15.5 million to 78.6 million On this basis, and taking into account a 0.6 million decrease in working capital requirements to 2.5 million, operating cash flow was 17.9 million, vs million in 2015, thus giving an EBITDA conversion rate of 73% in 2016, up from 66% in Net cash flow was 15.5 million, almost stable on the 2015 figure, and the Group thus had a net cash position of 78.6 million at the end of December Outlook The Groupe aufeminin will continue its transformation, notably focussing on developing its brands, automating its advertising and creating new sources of audience and revenue. Next financial publication: revenue for the 1 st quarter of 2017, on April 20,

3 About aufeminin 1 st creator of communities, the Groupe aufeminin provides an editorial and community-based offer covering all the most popular topics amongst women: Fashion, Beauty, Parenthood, Cooking, News, Entertainment, etc. With media brands such as aufeminin, Marmiton, My Little Paris, Merci Alfred, Onmeda, Zimbio.com, Livingly.com and Stylebistro.com, the Group is present in more than 20 countries in Europe, North Africa, North America and Latin America. With a global audience of 149 million monthly visitors (1), the Groupe s presence is gaining momentum on all platforms such as mobile, videos and social networks. The Groupe aufeminin, which is 78.43% owned by the Axel Springer group, is listed on compartment B of Euronext Paris (ISIN: FR , Ticker: FEM). In 2016, the Group recorded revenue of 107 million and an EBITDA of 24.7 million. [1] Source: Google Analytics, Groupe aufeminin - without deduplication January 2017 Contacts Aufeminin finances@aufeminin.com Delphine Groll, Head of Group Communication delphine.groll@aufeminin.com Tel: +33 (1) Newcap Investor relations : Mathilde Bohin / Marc Willaume aufeminin@newcap.eu Tel: +33 (0)

4 Appendices CONSOLIDATED INCOME STATEMENT ( millions) IFRS audited Δ Revenue % Operating expenses % of which: Staff costs % of which: Other purchases and external costs % EBITDA (1) % as a % of revenue 23,0% 25.2% Other operating expenses Amortisation & provisions Operating income as a % of revenue 16.5% 14.9% Financial income Corporation tax Net income from divested activities (2) Income from associates Net profit Attributable net profit (1) EBITDA results from operating income minus expenses, non-recurring operating income, amortisation and provisions. (2) Given the divestment of Smart AdServer at end-april 2015, SmartAdServer s 2015 results have been reclassified as Net income from divested activities. 4

5 CONSOLIDATED BALANCE SHEET AT 30 JUNE, 2016 ( millions) IFRS ASSETS Goodwill Intangible assets Total non-current assets Current assets Cash & cash equivalents Total current assets Total assets LIABILITIES Group shareholders equity Minority interests Consolidated shareholders equity Non-current liabilities Current liabilities Total liabilities

6 CONSOLIDATED CASH FLOW STATEMENT ( millions) IFRS Net profit Gross cash flow Change in working capital requirements Operating cash flow Acquisition / divestment of net consolidated securities Others Cash flow from investments Cash flow from financing Impact of foreign currency fluctuations Cash flow Cash position at start of period Cash position at end of period

Current operating profit excluding dissimilar barters % Operating profit % Net profit Group share

Current operating profit excluding dissimilar barters % Operating profit % Net profit Group share Paris, March 15, 2018 7:30 pm 2017 annual results NRJ Group 2017 Group revenue i comparable to prior FY, driven by a strong fourth quarter Increase in TV audiences on preferred commercial targets Sustained