LONDON, Nov. 9, 2001 (PRIMEZONE) -- QXL ricardo plc ("QXL" or the "Group") (LSE:QXL.L) (Nasdaq:QXLC) (Frankfurt:QXL.F), the pan-European online auction company, today announces its results for the second quarter ended September 30, 2001 and its interim results for the six months ended September 30, 2001.
Second Quarter ended September 30, 2001 - Operating and Financial Highlights
-- Trading loss decreased 56% over the quarter ended September 30,
2000 to 6.1 million pounds.
-- Gross profit - increased 136% over the quarter ended September
30, 2000 to 1.15 million pounds.
-- Increase in monetization rate to 4.5% from 2.4% in the quarter
ended September 30, 2000.
-- Gross profit margin increased from 8% in the quarter ended
September 30, 2000 to 99%.
-- Gross auction value increased 25% over the quarter ended September
30, 2000 to 25.2 million pounds.
-- 3.4 million members at quarter end, a 144% increase over the
quarter ended September 30, 2000.
Six Months Ended September 30, 2001 - Operating and Financial Highlights
-- Trading loss decreased 47% over the six months ended September
30, 2000 to 14.7 million pounds.
-- Gross profit - increased 138% over the six months ended September
30, 2000 to 2.2 million pounds.
-- Increase in monetization rate to 4.3% from 2.8% in the six months
ended September 30, 2000.
-- Gross profit margin increased from 12% in the six months ended
September 30, 2000 to 82%.
-- Gross auction value increased 58% over the six months ended
September 30, 2000 to 51.6 million pounds
Recent Developments
-- Success fees introduced in the Netherlands and Norway; eight
countries now with fee structures, representing over 90% of GAV.
-- Microsoft Passport authentication feature introduced.
-- NET application QXL XPress that provides instant access to the QXL
service from the desktop announced in conjunction with Windows XP
on October 25, 2001.
-- Distribution agreement signed with Wanadoo, the market-leading ISP
and portal of France Telecom.
To view this release in it entirety (including financial tables), please click the link: http://reports.huginonline.com/839737/96622.doc