TOMORROW FOCUS AG / Final Results
24.03.2009
Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Tomorrow Focus AG announces key figures for 2008
Munich, Germany, 24 March 2009 - Despite the difficult market conditions,
due to preliminary figures consolidated revenue at TOMORROW FOCUS AG for
the financial year 2008 showed an increase of 2.9 percent from EUR 74.9
million to EUR 77.1 million.
Although the Portal segment was hit by the financial crisis leading to a
disappointing set of figures for revenue and earnings, especially in the
fourth quarter of 2008, the E-Commerce segment fulfilled all expectations
in spite of the wider difficulties in the economy. The Technologies segment
also delivered solid results. It is clear from the financial year 2008 that
the decision to create a more diversified internet group through expansion
of the E-Commerce segment was the right one.
With a view to assuring profitable, long-term corporate growth, TOMORROW
FOCUS AG maintained its strategy of investing in ground-breaking and
profitable areas. The results for 2008 naturally reflect the capital
expenditure involved. Within the E-Commerce segment, there was renewed
investment in the internationalisation of HolidayCheck AG, while capital
spending in the Portal segment included the development of automated
business models such as jameda GmbH's physician rating platform and Findocs
GmbH, which will shortly be launching an innovative new finance portal. In
spring, TOMORROW FOCUS acquired an 18 percent stake in theperformance-based advertising marketplace AdJug Ltd.
In total, capital expenditure on these investments in the financial year
2008 led to around EUR 2.0 million of charges against earnings.
With regard to the figures quoted below for 2007, it should be noted that a
number of non-recurring items, e.g. the sale of shares in Bellevue & More
GmbH, had the effect of boosting group EBITDA, EBIT and EBT by around EUR
4.3 million and consolidated net income for the year by approx. EUR 2.4
million.
Group earnings before interest, taxes, depreciation and amortisation (Group
EBITDA) fell to EUR 9.6 million in the financial year 2008 from EUR 15.5
million in the previous year.
Group earnings before interest and taxes (Group EBIT) fell to EUR 5.7
million in the financial year 2008 from EUR 11.7 million in the previous
year
Group earnings before taxes (Group EBT) for the financial year 2008 stood
at EUR 3.0 million compared to EUR 11.0 million in the previous year.
It should be noted that the result from financing activities for 2008
contains non-cash expenditure of EUR 1.5 million (2007: EUR 0.8 million)
for accumulated interest on payments owed in connection with the
acquisition of shareholdings in HolidayCheck AG and Elitemedianet GmbH.
Consolidated net income for the year before minority interest reached EUR
2.3 million compared to EUR 8.4 million in the previous year.
Consolidated net income for the year after minority interest stood at EUR
2.3 million compared to EUR 6.3 million in the previous year.
Consolidated earnings per share for 2008 were EUR 0.05 after adjusted EUR
0.09 for 2007. Consolidated earnings per share for 2007 before adjustment
were EUR 0.15.
Group equity as at 31 December 2008 was up 28.7 percent on the previous
year at EUR 63.4 million. The equity ratio rose accordingly by a
substantial margin to 45.7 percent compared to 35.7 percent in the previous
year.
On balance, the E-Commerce segment has made a pleasing start to the
financial year 2009. ElitePartner and HolidayCheck are again reporting
clear year-on-year growth. HolidayCheck is currently benefiting from
cheaper advertising prices, for example, and from a noticeable easing of
competitive pressures. As a result, TOMORROW FOCUS intends to invest
prudently in the internationalisation of HolidayCheck.
The Portal segment is one of Germany's biggest display marketing providers.
The aim here is to increase market share in a tough environment. At the
same time, the company is working on solutions that will allow it to
implement process and cost optimisation measures in unprofitable areas.
This will also involve staffing adjustments at TOMORROW FOCUS Portal GmbH.
Consequently, investment in the Portal segment will essentially be limited
to brand promotion measures for the automated portals and to achieving
further increases in reach at FOCUS Online.
The priorities for 2009 will be targeted, selective investments in
transformation markets with strong potential for growth and the strict
monitoring of results.
The annual report for 2008 in German language will be published on 30 March
2009 at www.tomorrow-focus.de. The English version will follow in April.
Contact Investor & Public Relations
TOMORROW FOCUS AG
Armin Blohmann
Steinhauser Strasse 1+3
D-81677 München
Germany
phone: +49 (0)89 9250-1256
fax: +49 (0)89 9250-2403
email: a.blohmann@tomorrow-focus.de
www.tomorrow-focus.de
DGAP 24.03.2009
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Language: English
Issuer: TOMORROW FOCUS AG
Steinhauserstr. 1-3
81677 München
Deutschland
Phone: +49 (0)89 9250-1256
Fax: +49 (0)89 9250-2403
E-mail: a.blohmann@tomorrow-focus.de
Internet: www.tomorrow-focus.de
ISIN: DE0005495329
WKN: 549532
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Hannover, Düsseldorf, Hamburg, München, Stuttgart
End of News DGAP News-Service
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DGAP-Adhoc: Tomorrow Focus AG announces key figures for 2008
| Source: EQS Group AG