Boulogne-Billancourt, 5 May 2008
MEETIC (MEET – FR0004063097), European leader in online dating, announces its consolidated revenues for the first quarter ended on 31 March 2008.
Consolidated first-quarter 2008 revenue, which includes revenues posted by NEU.DE since 1st January, amounted to €31.9 million, representing an increase of 25.5% compared with the first quarter of 2007 and organic growth of 22%.
The company generated 96% of its revenue in Europe and 4% in the rest of the world. The internet revenue recorded growth of 27.7% to €30.5 million. The unfavourable trend in the sterling/euro exchange rate compared with the first quarter of 2007 had a negative impact on quarterly revenue of €0.6 million.
The quarter was marked by the migration of subscribers from the NEU.DE site to a new interface on 7 February. With 62,000 new subscribers over the first three months, including 36,000 which were independent of the NEU.DE acquisition, the subscriber base posted a strong increase. At 31 March 2008, 639,155 subscribers were registered with all the Group’s sites.
Dragged down by an unfavourable base of comparison, mobile revenue recorded a contraction of 15.8%. This decline reflects the revenue downturn in China, where the site has been accessible free of charge since December. European mobile revenue continued to grow, reaching €0.9 million, up 36% by comparison with the first quarter of 2007. Advertising and event revenue came to €0.5 million, representing a slight increase compared with the first quarter of 2007.Marc Simoncini, Chairman and Chief Executive Officer of MEETIC, commented: “The first quarter was marked by the first-time consolidation of our recent acquisition in Germany, completed successfully during February, and by firm trends in our subscriber base. At the same time, in line with the strategy unveiled together with our full-year results, we are actively continuing to prepare advertising campaigns in our strategic markets, as well as developing our editorial & traffic division for the launch of the VIOO community portal for women before the summer”.