ADLPARTNER: EARNINGS GROWTH FOR FIRST HALF OF 2016

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Communiqués de presse
Informations réglementées

ADLPartner is reporting strong growth in its earnings for the first half of 2016. Operating income climbed to €4.6 million, representing 7.8% of net sales, compared with 2.2% for the first half of 2015, while net income (group share) came to €3.0 million, up from €0.8 million the previous year.

 

HIGHLIGHTS

 

The first half of 2016 was marked by the good performance on open-ended subscription sales, with this portfolio in France growing 1.2%, as well as the sustained development, particularly in Spain, of the range of BtoB marketing services sold under the new brand ADLPerformance.

 

The major commercial investments in ADLP Assurances, its subsidiary specialized in direct marketing insurance brokerage, have continued at a similar level to 2015. They are helping drive the development of a portfolio of contracts that will generate future revenues.

 

EARNINGS

 

Net sales* totaled €59.3 million, up 3.4% from the first half of 2015, while the gross sales volume** is down 0.3% to €135.4 million.

 

Operating income is up to €4.6 million for the first half of 2016, compared with €1.3 million for the first half of 2015. This growth primarily reflects the solid margins achieved on the active open-ended subscription portfolio and the stability of commercial investments in the subsidiary ADLP Assurances.

 

After taking into account a €0.5 million increase in the tax expense to €1.7 million, net income (group share) represents €3.0 million for the first half of 2016, versus €0.8 million for the first half of 2015.

 

Consolidated data (€ million)

H1 2016

H1 2015

Net sales

59.32

57.35

Operating income
% of net sales

4.65
7.8%

1.26
2.2%

Income from continuing operations
% of net sales

3.00
5.1%

0.85
1.5%

Net income from held-for-sale or discontinued operations

0

(0.04)

Net income (group share)
% of net sales

3.00
5.1%

0.80
1.4%

 

FINANCIAL STRUCTURE

 

The group's shareholders' equity represented €21.7 million at 30 June 2016, down €1.0 million from 31 December 2015, factoring in half-year earnings and the ordinary dividend paid out for FY 2015 (€4.1 million).

 

Despite sustained investment, the group has a strong cash position, with €22.4 million at 30 June 2016, compared with €26.6 million at 31 December 2015 and €27.4 million at 30 June 2015.

 

Net asset value*** (group share), calculated based on shareholders' equity and the value of the active open-ended magazine subscription portfolio, came to €124.1 million at 30 June 2016, or €31.56 per share excluding treasury stock.

 

OUTLOOK

 

ADLPartner is developing in line with its strategy focused on creating value and capitalizing on its marketing expertise. To support the development of its subsidiary ADLP Assurances, the group is maintaining a level of commercial investments comparable to 2015. This diversification will enable the group to further strengthen its potential for growth and profitability over the medium and long term.

 

ADDITIONAL INFORMATION

 

The Management Board approved the consolidated financial statements on 23 September 2016 and the Supervisory Board confirmed on 30 September 2016 that it did not have any observations concerning the consolidated financial statements at 30 June 2016. The accounts have been subject to the usual limited review by the statutory auditors for half-year accounts. The half-year financial report is available on the company website at www.adlpartner.com.

 

Next date: 2016 third-quarter net sales on 27 October 2016 (after close of trading)

 

ADLPartner in brief

As a specialist in relational marketing, ADLPartner designs, markets and implements customer relationship management and loyalty services on its own behalf or for its major partners (banks, retailers, services, e-commerce, etc.).

ADLPartner is listed on NYSE-Euronext Paris - Compartment C

ISIN: FR0000062978–ALP - Bloomberg: ALP:FP – Reuters: ALDP.PA

www.adlpartner.com

 

CONTACTS

ADLPartner

Investor Relations & Financial Information

tel: +33 1 41 58 72 03

relations.investisseurs@adlpartner.fr

 

Calyptus

Cyril Combe

tel: +33 1 53 65 68 68

adlpartner@calyptus.net

 

 

 

 

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* Net sales (determined in line with the French professional status for subscription sales) only include the amount of remuneration paid by magazine publishers; for subscription sales, net sales therefore correspond to a gross margin, deducting the cost of magazines sold from the amount of sales recorded. For acquisition and management commissions linked to sales of insurance policies, net sales comprise current and future commissions issued, acquired by the accounting reporting date, net of cancellations.

** Gross sales volume represents the value of subscriptions and other products sold. It is equal to net sales for the insurance business.

*** Net asset value represents the amount of equity plus the discounted value of future net revenues generated by the active open-ended subscription portfolio.