Goldbach Group AG

DGAP-Adhoc: Goldbach Group AG: Half year result 2013 - Goldbach Group is growing in all Business Lines

Goldbach Group AG  / Key word(s): Half Year Results

21.08.2013 07:00

Release of an ad hoc announcement pursuant to Art. 53 KR
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Half Year Result 2013:
Goldbach Group is growing in all Business Lines

Turnover CHF 221 million - 5.6% turnover increase - adjusted EBIT growth
18.6% - Profit CHF 2.6 million - TV is growing - Online: 12% growth -
further growth expected

Küsnacht-Zürich, August 21st, 2013. In the first half of 2013, the Goldbach
Group increased net sales by 5.6% year-on-year to CHF 221 million and
achieved an EBIT of CHF 13.0 million (- 6.7 %). The EBIT
adjusted for one-time items (digital TV investments, termination of
software license agreement) increased by 18.6% to CHF 14.0 million. The
adjusted EBIT margin increased to 6.3 % (previous year 5.6 %). The leading
advertising logistics service provider for the marketing of private
electronic, mobile and interactive media as well as online marketing in the
DACH region (Germany, Austria and Switzerland), in Eastern Europe and the
Adriatic region continues to grow in all three Business Lines despite the
difficult environment. For the current fiscal year, the Goldbach Group
expects further single-digit sales growth and an increase in profitability.

Goldbach Media: TV is growing, radio business is shrinking
Sales in the Business Line Media, where the Goldbach Group pools the
marketing of private TV, radio and
digital out of home advertising primarily in Switzerland, as well as
Austria and Romania, recorded a renewed
growth of 3.2% to CHF 170.9 million (previous year CHF 165.6 million) in
the first half of the year. The lack
of publication of TV data in Switzerland had no adverse effect on sales.
Rather, Goldbach Media was able to
expand the market share of television advertising and considerably
increased its sales by 5.4% in the first half of the year. For the first
time, after a long period of growth, radio business declined by -10.4%, due
in particular to the cyclical lower advertising budgets of large customers.
This trend is likely to continue in the
second half of the year, since the demand for radio advertising was
exceptionally high in the previous year.
To generate new customers and take advantage of the growth potential of
radio markets, the Board of
Directors of Goldbach Media decided to establish an independent radio
marketing company as of 1 July 2013. The swiss radioworld AG which was spun
off from the Radio Unit of Goldbach Media has its headquarters in Zurich
Wollishofen. The Business Line Media contributed in the first half of 2013
78% (previous year 80%) to the total revenue of Goldbach Group. EBIT
increased to 1.9% and amounts to CHF 17.0 million (previous year CHF 16.7
million). The Media segment contributed 93% to the adjusted Group EBIT
(previous year 96%).

Goldbach Audience: further profitable growth with online advertising
The Business Line Audience, which bundles Goldbach's online advertising
offers, returned to a profitable
growth of +2.4% to CHF 28.3 million (previous year CHF 27.7 million) in the
first half of 2013. All product lines contributed to the online 12% growth
of the Goldbach Group: the Display segment including Performance Marketing
increased by 6%, while the Video product line grew by 36%. The Goldbach
Video Network launched at the beginning of 2012, which combines the
widest-reach premium advertising platforms across all screens into a simple
offer and is continuously being expanded with new platforms, devices and
technologies, is proving to be a strong growth driver. The adjusted EBIT of
Goldbach Audience - active in Switzerland, Austria, the Adriatic region and
Eastern Europe - amounts to CHF 1.1 million and has thus doubled over the
previous year's figure adjusted for one-time items (CHF 0.5 million). The
growth in the Adriatic region and stronger operating profits in Eastern
Europe have contributed to this improvement. In the first half of 2013, the
Business Line Audience contributed 12% (previous year 11%) of total revenue
and 6% (previous year 3%) of the adjusted EBIT of the Group.

Goldbach Interactive: strong organic growth, successful acquisition
The Business Line Interactive with Mobile, which provides conceptual,
design and technological offerings
for interactive communication and marketing solutions for the internet and
all mobile devices, has steadily
recovered in recent months from mandate changes and high investments, and
recorded growth again in
the first half of 2013 despite increased competition. The Business Line,
which operates in German-speaking
countries, Poland and Russia, generated sales of CHF 23.1 million (previous
year CHF 18.5 million) in the first half of 2013, corresponding to an
increase of 25.2%. About 60 % of the gains were achieved through organic
growth in the DACH region, while around 40% was generated by the
acquisition and successful integration of the leading Slovenian digital
agency Renderspace. The expansion of the newly integrated area Performance
Marketing is being energetically pursued at an international level, with a
main focus on Germany and Poland. However, restructuring measures in Poland
have had a negative impact on results. The Business Line Interactive
contributed 10% (previous year 9%) to the total revenue of Goldbach Group,
and 1% of the Group EBIT (previous year 1%). The EBIT for Business Line
Interactive is with CHF 0.2 million at the same level as in the previous
year.

Income and equity ratio
Net profit amounts to CHF 2.6 million (-25%, previous year CHF 3.5
million). Adjusted net profit increased by 77% to CHF 3.1 million (previous
year CHF 1.8 million). As of June 2013, the equity ratio was 32% (as of end
of June 2012: 31.5%). The operating cash flow generated in the first half
of the year amounts to CHF
-10.2 million, due to a strong reduction in current liabilities.

Reorganization by region
The Board of Directors has decided to realign the structure of the Goldbach
Group by regions, with effect from 1 July 2013. With this reorganization,
the Group which is active in the DACH region, Eastern Europe (Poland, Czech
Republic, Romania, Russia) as well as the Adriatic region (Slovenia,
Croatia, Serbia), aims to strengthen the individual regions, and facilitate
further expansion as part of the long-term corporate strategy.

Outlook
For the full year 2013, the Goldbach Group continues to expect single-digit
revenue growth in line with
previous forecasts, also in the TV business. 'Also in the second half of
the year, we expect higher sales, although TV ratings published since
August report lower overall TV usage due to the survey method' says Klaus
Kappeler, CEO Goldbach Group. 'Despite the challenging situation created by
the new TV panel, we expect further sales growth in the TV area because of
the ongoing shifting of advertising budgets to the moving image/video
segments'.

To analysts, investors and media representatives:
You will find the Goldbach Group  2013 Interim Report on our website, at:
http://www.goldbachgroup.com/investor-relations-en/annual-reports/half-yea
r-report-2013

Contact:
Goldbach Group AG
Germaine Müller, Investor Relations Manager
Corinne Laverrière, Public Relations Manager
Seestrasse 39
8700 Küsnacht-Zurich
Phone +41 (44) 914 91 00
Fax +41 (44) 914 93 60
www.goldbachgroup.com



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Additional features:
Document: http://n.equitystory.com/c/fncls.ssp?u=KJQLSIBOXE

Document title: Key Figures Goldbach Group Half Year 2013


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Language:               English
Company:                Goldbach Group AG
                        Seestrasse 39
                        8700 Küsnacht-Zürich
                        Switzerland
Phone:                  +41 44 914 91 00
Fax:                    +41 44 914 93 60
E-mail:              info@goldbachgroup.com
Internet:            www.goldbachgroup.com
ISIN:                   CH0004870942
Valor:                  487094
Listed:                 SIX

End of Announcement                             EQS Group News-Service

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