YOC AG: Preliminary figures for financial year 2013 / Positive restructuring impact seen / Sustainable rise in earnings expected in 2014
Ad hoc announcement per Section 15 WpHG (German Securities Trading Act)
Berlin, 16 April 2014, 15:58
YOC AG (ISIN DE0005932735) has reported preliminary consolidated sales of EUR 25.8 million under IFRS accounting (2012: EUR 34.6 million). The decline in sales mainly reflected the divestment of the Mobile Technology business unit, whose sales were deconsolidated in July 2013. EBITDA came to EUR -4.5 million (previous year: EUR -4.8 million).
Sales in the Media segment totalled EUR 19.0 million for 2013, coming after EUR 21.7 million in the previous year. This unexpected development going against the market trend reflected variances in international market performance. Sales in the domestic market, Germany, were unchanged year-on-year at EUR 9.1 million (2012: EUR 9.1 million). Sales rose in Spain and Austria versus the previous year. The French and UK markets however declined. In the UK, the company did not respond adequately to the rapidly changing market environment.
For Q4/2013 YOC AG reported improved figures for the Media business. Sales came to EUR 5.3 million (2012: EUR 6.1 million). Compared against the same quarter last year, EBITDA was posi- tive at EUR 0.1 million (Q4/2012: EUR -0.9 million). The operating result was affected by restruc- turing gains of EUR 0.6 million. Compared against the preceding quarters in financial year 2013 YOC AG has thus recorded rising earnings (average EBITDA for Q1–Q3 2013: EUR -1.8 million per quarter).
The restructuring driven forward by YOC AG CEO Dirk Kraus since his appointment on 10 Sep- tember 2013 has yielded positive initial results in that very same quarter, and its further execu- tion is of top priority. Efforts focus on product development for strategic company growth, sus- tained cost reductions and the resolution of distribution problems in international markets. YOC efforts to develop innovative technologies and products centre on programmatic selling of media and precision audience targeting of mobile internet users.
The Management Board expects earnings to significantly improve this financial year as a result of the restructuring.
The 2013 annual report with the final figures for Q4 2013 and the full 2013 financial year will be published at a later date.