YOC with moderate decline in turnover in H1/2020 – Increase in profitability through VIS.X® platform
Berlin, 19. August 2020 – Until the outbreak of the corona pandemic, the turnover growth of YOC AG (ISIN DE0005932735) at Group level was around 20 % compared to the previous year. Due to the subsequent reluctance of advertisers in the period March to May 2020, the company had to accept an increasing number of order cancellations and declines in orders. As a result, consolidated sales in the first six months of the current financial year amounted to EUR 6.3 million (H1/2019: EUR 6.8 million).
Immediately at the beginning of the crisis, the company introduced countermeasures to limit the economic impact and, as a result, achieved significant cost savings. In parallel with this development, the share of sales of internally developed Ad Tech products continued to increase, with the result that the company’s gross profit margin rose to 38.6% in the first six months of 2020 (H1/2019: 37.3%).
In the first half of 2020, earnings before interest, taxes, depreciation and amortisation (EBITDA)* at Group level increased to EUR 0.4 million (previous year: EUR 0.05 million) despite the corona pandemic. Thus, the company’s steady improvement in earnings continues.
As a supporting measure, the company agreed with its principal banks to provide working capital lines totalling EUR 0.4 million, and has thus had additional liquidity margin since the start of the third quarter.
Dirk-Hilmar Kraus, CEO of YOC AG: „The automated trading of our high-impact advertising formats is extremely resistant to the corona crisis: The trading volume of our technology platform VIS.X® grew by 91 % in the first half of 2020 compared to the same period of the previous year. The increased trading via VIS.X® helps us to further increase profitability. We will emerge stronger from the crisis.
The financial report of YOC AG for the first half of the 2020 financial year published today can be downloaded here.
*EBITDA corresponds to the definition in YOC AG’s report on the 2019 financial year (available at https://yoc.com/investor-relations/financial-reports/)