Boulogne-Billancourt, 2nd May 2012 – MEETIC (MEET – FR0004063097), the European leader in online dating, today announces its consolidated results for the 1st quarter to 31st March 2012.
Consolidated revenue for the first quarter of 2012 decreased to €41.2 million driven by a 13% decrease in subscribers. The number of subscribers at 31st March 2012 was 757,332.
Marketing expense for the three-month period ending 31st March 2012 was €23.7 million, or 58% of revenue, compared to €36.5 million, or 79% of revenue, for the prior year period.
Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) increased to €5.3 million for the threemonth period ending 31st March 2012 compared to -€3.0 million for the prior year period. The increase in EBITDA was driven by lower marketing expense. EBITDA margin was 12.5% and EBITDA margin before the cost of free shares was 14.3% for the three-month period ending 31st March 2012.
Net profit totalled €3.4 million for the three-month period ending 31st March 2012, giving a net margin of 8.2%, compared to a net loss of €3.2 million for the prior year period.
At 31st March 2012, the Group had a net cash position of €36.1 million and no debt. At 31st December 2011, the Group had a net cash position of €33.1 million and no debt.
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
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Results for the first half of 2012 will be published on: 25th July 2012, before market