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consolidated results for the 1st half of 2011
The first half of 2011 was extremely positive for the Proximedia Group, with around 11% growth in sales and services since June 2010 (€26.1 million compared with €23.5 million).
The EBITDA (EBIT + depreciation) rose by 21% to €9.3 million, with an operating profit (EBIT) in excess of €3 million, up by €0.6 million. The before tax half-yearly result stood at €2.45 million with a net profit of €1.46 million, up by 24% on the first half of 2010.
At the end of the first half of 2011, the balance sheet total stood at €38.1 million (compared with €35.2 million as at 30 June 2010) and equity capital was up by €2.3 million to €12 million.
The debt-equity ratio continued to improve, falling from 2.27 as at 31 December 2010 to 1.89 as at 30 June 2011.
As at 30 June 2011, the sales and services figure for Proximedia Belgium had continued to increase regularly, standing at €11.7 million (+4.1% on June 2010).
Having experienced significant growth in the past two years, Bezoom saw another rise in its sales and services of around 11% to €7.8 million for the first half of 2011.
Online Internet, which markets the BeUP concept, saw its sales and services rise by 60%, with €2.8 million achieved in 6 months.
Globule Bleu maintained a result in line with the first quarter of 2010, with sales and services of €1.5 million.
With sales and services of €0.8 million, France was the only country whose results did not improve.
In contrast, our Dutch subsidiary, Proximedia Nederland, recorded a 27.5% rise in sales and services, achieving €2.5 million.
At this stage, our foothold in North America through the subsidiary Bezoom USA is still modest, and its figures are not sufficiently significant to be consolidated, despite a positive half-yearly result of USD 0.05 million.
Outlook for the second half of 2011 :
« Three new products have been launched since the start of this second half. Proximedia Belgium is now marketing websites fully adapted to Smartphones, and is consequently tailoring its services to this new communication tool. Bezoom launched its VideoBiz directory, the first video guide to Belgian SMEs. Finally, Online Internet is expanding its online marketing offer with Promobook, a new platform providing daily promotional offers in the form of discount coupons issued by SMEs and local retailers.
These new developments have been fully assumed by the Group and will contribute to the results for 2011, which are expected to be excellent. »
Fabrice Wuyts, CEO, Proximedia Group.
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