At EUR 97.6 million, adjusted consolidated revenue at TOMORROW FOCUS AG in the first half of 2014 was up by 8.2 percent on the corresponding figure of EUR 90.2 million for the same period in 2013.
Adjusted consolidated revenue for the second quarter of 2014 showed a year-on-year rise of 9.8 percent from EUR 45.0 million in 2013 to EUR 49.4 million.
Revenue in the Travel segment for the first half-year period stood at EUR 63.2 million, 11.4 percent up on the equivalent figure of EUR 56.7 million in the previous year.
Segment revenue for the second quarter 2014 increased by 13.3 percent from EUR 27.2 million to EUR 30.9 million year on year.
Although the market environment remained stagnant and in some cases even lost ground, TOMORROW FOCUS AG estimates that its travel portals nevertheless managed to expand their respective market positions.
Half-year revenue in the Publishing segment rose slightly from EUR 14.2 million in 2013 to EUR 14.4 million, an increase of 1.4 percent.
Segment revenue in the second quarter of 2014 rose by 8.7 percent from EUR 7.8 million in 2013 to EUR 8.5 million.
Following a small decline in the segment’s first-quarter revenue due to weakness in the display advertising market, second-quarter revenue showed clear single-digit growth. Although this is partly down to a slight improvement in the market situation, it particularly reflects the Group’s success in creating new income-generating pillars in the fields of video advertising, transactions and mobile advertising.
At EUR 15.8 million, revenue in the Subscription segment was practically unchanged in the first six months of 2014. The figure reported for the first six months of 2013 was EUR 16.0 million.
Segment revenue in the second quarter of 2014 stood at EUR 7.7 million, down 3.2 percent on the equivalent figure of EUR 8.0 million in 2013.
Faced with a generally stagnant yet highly competitive market environment, EliteMedianet GmbH, which operates the premium online dating agency ElitePartner, consciously accepted a small decrease in revenue for the first half-year in order to boost its earnings performance.
jameda GmbH, which operates a physician ratings portal by the same name, achieved growth in revenue and earnings in the first half 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.
Group earnings before interest, taxes, depreciation and amortisation (Group EBITDA) for the first half of 2014 rose by 2.8 percent to EUR 9.0 million compared to the previous year’s figure of EUR 8.7 million.
At EUR 6.7 million, Group EBITDA for the second quarter of 2014 was 45.3 percent higher compared with EUR 4.6 million in the same quarter of 2013.
Adjusted Group earnings before interest and taxes (Group EBIT) stood at EUR 5.1 million in the first half of 2014 compared with EUR 5.6 million in the previous year. This is equivalent to a decrease of 7.5 percent.
Adjusted Group EBIT for the second quarter rose by 63.0 percent year on year, from EUR 3.0 million in 2013 to EUR 4.8 million in 2014.
Adjusted Group earnings before taxes (Group EBT) stood at EUR 2.5 million in the first half of 2014, an increase of 22.0 percent compared with EUR 2.1 million in the same period of 2013.
Adjusted EBT for the second quarter of 2014 was up 74.9 percent year on year at EUR 3.3 million. The adjusted EBT figure reported for the second quarter of 2013 was EUR 1.9 million.
Adjusted Group earnings after taxes ended the first half-year period 68.5 percent lower at EUR 0.2 million compared with EUR 0.7 million in the first half of 2013.
Adjusted Group earnings after taxes in the second quarter of 2014 rose by 53.5 percent from EUR 1.4 million in 2013 to EUR 2.2 million.
Adjusted consolidated earnings per share for the first half-year stood at EUR 0.00 compared with EUR 0.01 in the first six months of the previous year.
Adjusted consolidated earnings per share for the second quarter of 2014 were EUR 0.04, an increase of 100 percent on the corresponding 2013 figure of EUR 0.02.
The earnings figures for the first half of 2014 and the first half of 2013 have been adjusted in the interests of better comparability to take account of the following non-operational one-off effect.
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 0.9 million in the first half of 2014 (first half of 2013: EUR 0.9 million).
The outlook for positive revenue development in the second half of 2014 is good. 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.
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.