MEETIC (MEET - FR0004063097), the European leader in online dating, today announces its consolidated and audited results for the financial year to 31st December 2012, approved by the Board meeting 1 of 1st February 2013. 

Consolidated revenue   

2012 consolidated annual revenue totalled €164.8 million, down 7.5% on the previous year.
Revenue for the 4th quarter of 2012 came to €42.0 million, higher than the three previous quarters of the year. 

Subscriber indicators:  

  • The Group had a total of 768,572 subscribers at 31st December 2012, versus 762,099 subscribers at 31st December 2011.
  • Monthly ARPU (Average Revenue Per User) was 17.73 euros over the 2nd half of 2012, compared with 17.48 euros over the first half of 2012. Over the year as a whole, monthly ARPU was 17.60 euros, versus 17.38 euros in 2011, a 1% improvement on the year. 

2012 consolidated results

Marketing expense:
2012 marketing expense totalled €77.6 million or 47.1% of revenue, compared to €92.5 million and 52.0% of revenue in 2011.

EBITDA margin: 22.3%
Profitability significantly improved in 2012, with Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA), after the cost of free shares, thus totalling €36.8 million, giving an EBITDA margin of 22.3% in 2012 compared with 20.3% in 2011.

Depreciation of investments and receivables on investments in associates:
The Group's share of net income from associates decreased from €1.9 million in 2011 to €1.1 million in 2012. In addition, the Group recorded an impairment charge for the carrying value of our Latin American investment of €10.3 million in depreciation and associated receivables given relative underperformance compared to expectation.

Net profit: +31.9%
Annual net profit totalled €11.7 million, giving a net margin of 7.1% in 2012 compared with 5.0% in 2011.

Cash position: €63.4 million
At 31st December 2012, the Group had a net cash position of €63.4 million and no debt. Its net cash position at 31st December 2011 was €33.1 million. 

1Audit procedures have been carried out on the Group's consolidated accounts. The audit report will be issued once the necessary procedures for verifying footnotes to the consolidated financial statements and management report have been completed.

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