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H1 2014 Trading Update

15 Jul 2014 07:00

InternetQ plc - H1 2014 Trading Update

InternetQ plc - H1 2014 Trading Update

PR Newswire

London, July 15

15 July 2014 For immediate release INTERNETQ PLC ('InternetQ', the 'Group' or the 'Company') H1 2014 Trading Update InternetQ delivers a strong performance fueled by new business and demand for its market leading products InternetQ plc (LSE-AIM: INTQ), a leading provider of mobile marketing anddigital entertainment solutions for mobile network operators and brands, ispleased to announce the following update for the six months ended 30 June 2014. InternetQ produced strong growth across all business divisions during the firsthalf of 2014 resulting in revenue of approximately €65 million, an increase ofmore than 50% YoY. Adjusted EBITDA increased by around 90%, exceeding €9.5million, against the comparable prior year period. There was no material changein InternetQ's cash position since year-end 2013 despite investments of over €9million in CAPEX and acquisitions in the first half of 2014. The momentum seen in the first half is expected to continue during the secondhalf and as a result the Company anticipates that Full Year results will be inline with market expectations. Operational Update * Interacel, now fully integrated, has continued to accelerate the Group's growth across Latin America. A number of campaigns operating in the region were extended from Q1 into Q2, due to their success. Mobile marketing projects are currently running in Paraguay, Dominican Republic, Ecuador, Guatemala, Honduras, Nicaragua and Costa Rica. * On top of the campaigns running in Latin America, InternetQ has a strong mobile marketing pipeline including cross-operator projects in Poland, projects in Asia and campaigns with Vodafone in Malta, National Mobile Lotto in Trinidad & Tobago and CellC in South Africa. * The acquisition of UpMobile was completed in June and its integration is now underway. Through UpMobile InternetQ has entered the fast growing Mexican market, strengthening its position and expanding opportunities in Latin America. * Minimob achieved more than 90 million additional unique SDK installs since the start of the year, which represents an equal number of new users as potential targets for mobile advertising. Of these installs, 13.5% originated from the US. Brazil, Mexico, Thailand, Germany, UK, Spain, Malaysia and Indonesia represent a few of the additional top countries with the greatest number of SDK installs. * Continuously upgradingtheMinimob platform with new features and tools under development that will allow app developers to increase user average lifetime value and improve ARPU (average revenue per user). These upgrades will also enable advertisers to maximize the effectiveness of their campaigns through performance monitoring. * Akazoo continues to grow its pipeline of partnerships focusing on strategic global agreements, positioning Akazoo as a strong player in the music streaming business. * Akazoo continues to exhibit high conversion rates to paying subscribers, ranging from 20-35%, depending on the market. * Orange Poland Akazoo program launched with great success during the Orange Warsaw Music Festival. * New Akazoo features under development to optimise the service will be released towards the end of the year. These include automated and personali sed radio streaming as well as personalised music recommendations that will lead to increased monetisation. Panagiotis Dimitropoulos, Founder and Chief Executive Officer of InternetQ said: "With the successful integration of last year's acquisitions InternetQ is now adiverse global operator across four continents. Our proven capabilities inmobile marketing and music streaming continue to afford considerable potentialfor organic growth. In addition we are quickly building a market leadingcapability for In-App advertising which will feature prominently in the newmobile commercial marketplace. We see significant future opportunities in our markets for both mobilemarketing and Akazoo, on the back of the success we have already achievedacross Latin America, Europe and Asia. InternetQ has made excellent progressduring the first half, in line with market expectations and I am confident weare well placed to continue to benefit from the strong growth in mobilemarketing and digital entertainment." Interim results for the six months ended 30 June 2014 will be announced on 30September 2014. ENDS For further details: InternetQ Tel: +44 (0) 20 3519 5250 / +30 (211) 101 1101Panagiotis Dimitropoulos, Founder and CEO Tel: +30 (697) 811 7520Veronica Nocetti, Chief Financial Officer Tel: +30 (694) 420 5275 FTI Consulting LLPCharles Palmer / Sophie McMillan/Karen Tang Tel: +44 (0)20 3727 1000 RBC Capital MarketsStephen Foss / Pierre Schreuder Tel: +44 (0)20 7653 4000 Canaccord GenuitySimon Bridges / Emma Gabriel Tel: +44 (0)20 7523 8000 About InternetQ plc: InternetQ is a leading digital content and mobile marketing services Companywith operations spanning Asia, Europe, Africa and the Americas. It offersproprietary technology platforms to help mobile network operators, brands, andmedia companies to conduct targeted, interactive and measurable marketinginitiatives on mobile devices. Its mobile value added services include Akazoo,which allows consumers to purchase digital music content, MobiDialog, itsplatform for mobile operators to manage marketing campaigns with predictiveanalytics, and Minimob, a platform providing developers with the most advancedtools to cross-promote and monetize their apps. All underpinning the rapidglobal growth in smart devices and the thriving app economy. InternetQ is a publicly traded Company listed on the AIM market of the LondonStock Exchange, under the symbol INTQ. For investor related queries, please email: ir@internetq.com

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