CLIQ Digital AG
CLIQ Digital AG: significant growth in revenue and earnings in the first quarter of 2015
Cliq Digital AG / Key word(s): Quarter Results 21.05.2015 08:00 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- CLIQ Digital AG: significant growth in revenue and earnings in the first quarter of 2015 - Revenue rises considerably to EUR 18.0 million (Q1 2014: EUR 9.9 million/Q4 2014: EUR 12.9 million) - EBITDA improves to EUR 5.9 million (Q1 2014: EUR 0.4 million/Q4 2014: EUR 3.1 million) - Forecast for 2015 confirmed: double-digit percentage growth in revenue compared to previous year Düsseldorf, 21 May 2015 - CLIQ Digital AG (ISIN DE000A0HHJR3, WKN A0HHJR), a leading provider of games, apps, software and entertainment for smartphones, tablets and desktops, has today announced its financial figures for the first quarter of 2015. The company's increased marketing spend has resulted in significant growth in revenue and earnings compared to the comparable quarters of the previous year. Development in revenue In the period under review, CLIQ Digital AG generated revenue of EUR 18.0 million compared to EUR 9.9 million in the same period of the previous year. This corresponds to a rise of around 82% against the first quarter of 2014 and of around 40% compared to the fourth quarter of 2014 (EUR 12.9 million). This growth in revenue largely results from increased marketing spend in the last quarter of 2014 and the first quarter of 2015. Marketing spend in the reporting period amounted to EUR 4.7 million compared to EUR 3.3 million in the same period of the previous year. In the first quarter of 2015, marketing spend rose by around 9% compared to the fourth quarter of 2014. Development of earnings In the period under review, EBITDA amounted to EUR 5.9 million (Q1 2014: EUR 0.4 million/Q4 2014: EUR 3.1 million). Net profit in the first three months of the current financial year amounted to EUR 0.6 million (Q1 2014: EUR 0.1 million/Q4 2014: EUR 0.1 million). Following a change in accounting estimates in 2014, the marketing costs for customer acquisition have been accounted for as an intangible asset and amortised over the customer's revenue lifecycle. As a side effect, marketing spend is better assigned, in terms of timing, to the revenue that results from it. For this reason, a comparison of EBITDA and net profit with the same quarter of the previous year (Q1 2014) is only partially informative. In April 2015, CLIQ Digital AG informed its shareholders that the Mexican mobile service provider Telcel had disconnected the technical service provider used by CLIQ Digital from its network. It is therefore not possible to provide services to the network operator's customers at present. In order to come to a clarification of the situation the Management Board is also making use of their rights to audit the books of the technical service provider. An impairment loss was expensed for the intangible asset "customer acquisition" accordingly by the company in the quarterly financial statements to 31 March 2015 in order to take account of this situation. This had a negative effect of EUR 0.4 million on the net result for the first quarter of 2015. Outlook for 2015 The CLIQ Digital Group has raised its marketing spend considerably in the first quarter. CLIQ Digital AG will intensify its marketing activities further in the current financial year, although due to the unsettled situation in Mexico, this will not result in an increase in revenue in the second quarter. Nevertheless, the Management Board confirms its forecast for the 2015 financial year. Driven by a double-digit rise in sales, CLIQ Digital anticipates double-digit percentage growth in revenue compared to the previous year. About CLIQ Digital: CLIQ Digital is a leading provider of games, apps, entertainment and software for smartphones, feature phones, tablets and desktops. The core business of the company is the direct marketing of its products to end-customers via online- and mobile-marketing channels. CLIQ Digital offers its customers attractive products and is a valuable strategic business partner for developers, publishers and advertisers. The company, based in Dusseldorf employs approximately 95 staff and is listed in the Entry Standard of the Frankfurt Stock Exchange (ISIN DE000A0HHJR3). Visit CLIQ on: www.cliqdigital.com. Contact: CROSS ALLIANCE communication GmbH Susan Hoffmeister Freihamer Strasse 2 D-82166 Gräfelfing/München Tel.: +49 (0)89 89 82 72 27 Fax: +49 (0)89 89 52 06 22 E-Mail: sh@crossalliance.de 21.05.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
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