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Third Quarter 2015 Financial Results

Mon, 9th Nov 2015 07:00

RNS Number : 9451E
Trader Media East Ltd
08 November 2015

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TRADER MEDIA EAST LTD

Third Quarter 2015 Financial Results

Amsterdam, The Netherlands - November 8, 2015

Trader Media East Limited ("TME" or the "Group"), operating in Russia and CIS released today its third quarter (3Q) financial results for 2015.

Financial Summary (IFRS)

(US$ millions)

3Q15

3Q14 ***

Change *

Org ch. **

9M15

9M14 ***

Change *

Org ch. **

Revenue

4,2

16,4

(74,4%)

(60,1%)

17,4

51,0

(65,9%)

(45,2%)

Russia

2,8

13,4

(79,1%)

(64,4%)

12,7

42,3

(70,0%)

(48,1%)

CIS

1,4

3,0

(53,3%)

(37,7%)

4,7

8,7

(46,0%)

(30,0%)

Operating EBITDA

0,1

0,2

(50,0%)

(2,8)

0,1

- Corporate Cost

(0,2)

(0,5)

(60,0%)

(0,7)

(1,1)

(36,4%)

Consolidated EBITDA

(0,1)

(0,3)

(3,5)

(1,0)

Net (loss)/profit from continuing operations

(5,9)

(16,9)

(12,6)

(25,1)

Operating EBITDA Margin %

2,4%

1,2%

(16,1%)

0,2%

Consolidated EBITDA Margin %

(2,4%)

(1,8%)

(20,1%)

(2,0%)

(US$ millions)

3Q15

3Q14R ***

Change *

Org ch. **

9M15

9M14R ***

Change *

Org ch. **

Online Revenue

2,6

6,9

(62,3%)

(36,5%)

9,0

19,6

(54,1%)

(45,2%)

Share of total revenue

61,9%

42,1%

51,7%

38,4%

*Change: Change is calculated in USD terms.

**Organic change: Change in local currency terms, including only continuing operations.

TRADER MEDIA EAST LTD

Consolidated Balance Sheets

(In millions of US Dollars, unless otherwise stated)

(Unaudited)

30 September

31 December

2015

2014

ASSETS

Non-current assets

Property, plant and equipment

0,9

1,8

Goodwill

37,6

42,7

Intangible assets

26,1

30,4

Investment in associates

0,8

1,1

Deferred tax assets

0,9

0,7

Total non-current assets

66,3

76,7

Current assets

Inventories

0,1

0,2

Trade and other receivables

1,1

2,2

Cash and cash equivalents

1,2

2,2

Other current assets

2,1

2,2

Total current assets

4,5

6,8

Total assets

70,8

83,5

TRADER MEDIA EAST LTD

Consolidated Balance Sheets (continued)

(In millions of US Dollars, unless otherwise stated)

(Unaudited)

30 September

31 December

2015

2014

EQUITY

Capital and reserves attributable to

equity holders of the company

Share capital

9,6

9,6

Additional paid-in capital

689,9

696,8

Translation reserve

16,1

15,0

Accumulated losses

(744,1)

(730,3)

(28,5)

(8,9)

Equity attributable to non-controlling interests

(0,4)

(0,1)

Total shareholders' equity

(28,9)

(9,0)

LIABILITIES

Non-current liabilities

Deferred tax liabilities

4,7

4,3

Total non-current liabilities

4,7

4,3

Current liabilities

Financial liabilities - senior credit facility

39,9

38,4

Financial liabilities to non-controlling interests

7,7

7,7

Trade and other payables

3,0

3,1

Amounts due to shareholders

42,0

35,2

Current income tax liability

0,2

0,5

Other current liabilities

2,2

3,3

Total current liabilities

95,0

88,2

Total liabilities

99,7

92,5

Total liabilities and shareholders' equity

70,8

83,5

TRADER MEDIA EAST LTD

Consolidated Profit and Loss Statement

(In millions of US Dollars, unless otherwise stated)

(Unaudited)

30 September

30 September

2015

2014

Continuing operations

Revenue

17,4

51,0

Cost of sales

(9,7)

(25,8)

Gross profit

7,7

25,2

Marketing, selling and distribution expenses

(4,5)

(11,4)

General administrative expenses

(8,2)

(17,7)

Other expense, net

(0,9)

(0,4)

Operating (loss)

(5,9)

(4,3)

Share in profit of associates

-

0,1

Finance costs, net

(7,2)

(21,2)

(Loss) before income tax

(13,1)

(25,4)

Income/(expense) tax benefit

(0,7)

0,3

Net (loss) for the period from continuing operations

(13,8)

(25,1)

Discontinued operations

Net (loss) for the period from

discontinued operations

-

-

Net (loss) /profit for the period

(13,8)

(25,1)

Attributable to:

Equity holders of the parent

(13,8)

(25,9)

Non-controlling interests

0,1

0,9

(13,7)

(25,0)

Weighted average number of

ordinary shares in issue (thousands)

60.000

50.000

Basic and diluted (losses) / earnings per share for

the period attributable to the equity holders of the

group (expressed in full US Dollar per share)

(0,232)

(0,520)

Forward-Looking Statements

Some of the statements in this document are forward-looking. Forward-looking statements include statements regarding the intent, belief and current expectations of Trader Media East or its officers with respect to various matters. When used in this document, the words "expects," "believes," "anticipates," "plans," "may," "will," "should" and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Such statements are not promises or guarantees, and are subject to risks and uncertainties that could cause actual outcome to differ materially from those suggested by any such statements. Those factors include, but are not limited to, risks or uncertainties relating to our highly competitive industry, our dependence on advertising including print and online advertising, our ability to make and integrate acquisitions, our ability to obtain financing for acquisitions and other needs on terms acceptable to us, the uncertain operating environment created by political, economic and social conditions, including corruption, in some of the countries in which we operate, the currencies in which we do business, our ability to remit funds freely from the jurisdictions in which we operate, restraints on our operations resulting from minority holdings in some of our subsidiaries, our ability to manage foreign exchange exposures, our dependence on our management team and key personnel, our ability to attract and retain key sales staff, our content, our brands, our limited operating history of our online operations in the countries in which we do business, our inability to adapt to technological changes, as well as general economic and market conditions relating generally to emerging markets.

These forward-looking statements speak only as of the date of this document. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any forward-looking statement is based.

Investor Relations Contact Information

Inci Tari

Investor Relations Director

Tel: +90 212 449 65 54

e-mail: itari@hurriyet.com.tr

This information is provided by RNS
The company news service from the London Stock Exchange
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