Munich, 8 May 2014 - At EUR 48.3 million in the first quarter of 2014, TOMORROW FOCUS AG increased its adjusted consolidated revenue by 7 percent on the corresponding figure of EUR 45.2 million recorded in the first quarter of 2013.
Revenue in the Travel segment rose by 10 percent from EUR 29.5 million to EUR 32.3 million compared with the same quarter in 2013.
Despite a challenging market environment, HolidayCheck AG, which operates the hotel rating and travel booking portal by the same name, managed to expand further as planned due to intensified marketing investments. In the company’s opinion, growth of the German online package holiday market was in the low, single-digit percentage range in the first quarter of 2014 as a result of an early start to the early bird season in the fourth quarter of 2013. Furthermore, there was a marked high level of competition on the market in the first quarter of 2014.
Besides HolidayCheck, the Dutch travel portals Zoover and Tjingo and the French travel portal Ecotour also managed to consolidate their respective market positions and in some cases even expand them.
Revenue in the Subscription segment remained stable at EUR 8.0 million on the corresponding figure in the first quarter of 2013.
EliteMedianet GmbH, which operates the premium online dating agency ElitePartner, recorded a solid revenue trend in the first quarter in an overall stagnant and at the same time highly competitive market environment.
jameda GmbH, which operates a physician ratings portal by the same name, achieved growth in revenue in the first quarter of 2014 in the high double digits in percentage terms and so further expanded its leading position amongst Germany’s physician search and ratings portals.
Revenue in the Publishing segment fell by 8 percent from EUR 6.4 million to EUR 5.9 million year on year. Although its own portals such as Focus.de and HuffingtonPost.de developed their reach very well, the current budget restraint by major advertisers and the price collapse, in particular in the mobile advertising inventory, in the seasonally weakest quarter of the year resulted in a single-digit decrease in advertising revenues.
Revenue in the Other segment for the first quarter of 2014 stood at EUR 2.0 million compared with EUR 1.2 million in the same quarter of the previous year. In the disclosed segment and consolidated revenue for the first quarter of 2013, EUR 1.0 million in revenue was adjusted for Tomorrow Focus Technologies GmbH sold in 2013.
Group earnings before interest, taxes, depreciation and amortisation (Group EBITDA) for the first quarter of 2014 fell by 45 percent to EUR 2.3 million compared to the previous year’s figure of EUR 4.1 million.
Adjusted Group earnings before interest and taxes (Group EBIT) stood at EUR 0.5 million in the first quarter of 2014 compared with EUR 2.8 million in the previous year. This is equivalent to a decrease of 82 percent.
Adjusted Group earnings before taxes (Group EBT) stood at minus EUR 0.5 million in the first quarter of 2014 compared with EUR 1.0 million year on year.
Adjusted Group earnings after taxes amounted to minus EUR 1.6 million in the first quarter of 2014 compared with EUR 0.1 million in the first quarter of 2013.
Adjusted Group comprehensive income was minus EUR 1.6 million in the first quarter of 2014 compared with EUR 0.1 million in the same period of 2013.
Adjusted consolidated earnings per share for the first quarter stood at minus EUR 0.03 compared with EUR 0.00 in the first three months of previous year.
The earnings figures for the first quarter of 2014 and the first quarter of 2013 were each adjusted in the interests of better comparability by the following non-operational one-off effects:
Under International Financial Reporting Standards (IFRS) the corporate takeovers in 2012 and 2013 resulted in amortisation and depreciation on the assets identified during purchase price allocation amounting to EUR 0.6 million (first quarter of 2013: EUR 0.6 million) and in the compounding of future put/call liabilities amounting to EUR 0.2 million (first quarter of 2013: EUR 0.7 million).
The prerequisites for positive revenue development are generally good for the current financial year. The moderate economic recovery predicted in the core sales markets of TOMORROW FOCUS AG should, despite partly increased competitive pressure, result in further recovery of demand for the products and services of TOMORROW FOCUS AG. As a result of business performance as planned in the first quarter, the Management Board will continue to assume that the goals set for the 2014 financial year will be achieved.
About TOMORROW FOCUS AG
TOMORROW FOCUS AG (ISIN DE005495329) is based in Munich, Germany, and is one of the leading exchange-listed Internet groups in Germany. The Group has a workforce of around 750. On 1 January 2014, its business operations were restructured into three new segments: Travel, Publishing and Subscription.
The Travel segment includes HOLIDAYCHECK AG, which operates a number of hotel review and travel booking portals by the same name; the travel division of WEBASSETS B.V., which operates the ZOOVER hotel review portals; TOMORROW TRAVEL B.V., which operates the Dutch online travel agent TJINGO; and RPC VOYAGES SAS, which operates the French online travel agent ECOTOUR.
The Subscription segment is made up of ELITEMEDIANET GmbH, which operates the premium online dating agency ELITEPARTNER.de; JAMEDA GmbH, which operates the physician ratings portal JAMEDA.de; and ORGANIZE.ME GmbH, which operates an app-based document organisation and reminder system.
The Publishing segment includes TOMORROW FOCUS MEDIA GmbH, one of Germany’s leading digital marketing providers; TOMORROW FOCUS PUBLISHING GmbH, which operates a number of Internet portals such as the news and utility journalism site FOCUS Online; the news portal and platform for views and blogs THE HUFFINGTON POST; the finance and stock market information portal FINANZEN100; the parent portal NETMOMS GmbH; and the meteorological arm of WEBASSETS B.V., which operates the METEOVISTA and WEERONLINE weather portals.