MEETIC : Results for the 3rd Quarter of 2012

10/24/2012 | 03:00am EDT

EBITDA UP +44.3%

Regulatory News:

MEETIC (Paris:MEET) (MEET - FR0004063097), the European leader in online dating, today announces its consolidated quarterly and 9 months results to 30^th September 2012.

Consolidated revenue¹

In millions of euros	30 Sept. 2012	30 Sept. 2011	?" %
In millions of euros	(9 months)	(9 months)	?" %
Internet	116.9	132.4	(11.7%)
% of total revenue	95%	97%	(11.7%)
Mobile	5.0	2.7	86.1%
% of total revenue	4%	2%	86.1%
Other	0.9	1.1	(20.4%)
% of total revenue	1%	1%	(20.4%)
Total	122.8	136.2	(9.9%)

In millions of euros	Q3 2012	Q2 2012	Q1 2012	Q3 2011	Q2 2011	Q1 2011
Internet	38.8	39.0	39.1	42.5	44.9	45
Mobile	1.8	1.6	1.7	1	0.9	0.8
Other	0.3	0.3	0.3	0.3	0.4	0.4
Total	40.8	40.8	41.2	43.8	46.2	46.2

Revenue for the 9 first months of 2012 totalled 122.8 million euros, reflecting a 4% decrease in the number of subscribers, which totalled 767,803 at 30^th September. The third quarter revenue remained stable compared to the previous quarter.

_________________

¹ Unaudited

Consolidated results for the 9 first months¹


In millions of euros (IFRS)	30^th Sept 2012	30^th Sept 2011	?" %
	(Consolidated)	(Consolidated)

Revenue	122.8	136.2	(9.9%)
*EBITDA before the cost of free shares**	29.2	22.3	31.0%
% of total revenue	23.8%	16.3%	31.0%
EBITDA*	27.6	19.2	44.3%
% of total revenue	22.5%	14.1%	44.3%
Operating profit	24.0	16.3	47.5%
% of total revenue	19.6%	12.0%	47.5%
Share of profit from JV using the equity method	0.9	1.3	(30.0)%
Net profit from maintained activities	16.9	12.2	38.9%
Net profit	16.9	12.2	38.9%
% of total revenue	13.8%	9.0%	38.9%

* Earnings Before Interest, Taxes, Depreciation and Amortization

Improvement of the marketing efficiency:
Marketing expense for the first nine months of the year totalled ?58.2 million, or 47.4% of revenue, versus ?80.7 million and 59.3% of revenue for the first nine months of 2011.

EBITDA: +44.3%
As a consequence of the marketing expense leverage, profitability improved significantly, with EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) coming to ?27.6 million at 30^th September 2012 compared to ?19.2 million at 30^th September 2011. The EBITDA margin was thus 22.5% at 30^th September 2012.

Net profit: +38.9%
Net profit for the first nine months of 2012 came to ?16.9 million giving a net profit of 13.8%, compared to 9.0% over the same period of 2011.

Cash flow
At 30^th September 2012, the Group had a net cash position of ?63.2 million and no debt. This compares to a net cash position of ?33.1 million at 31^st December 2011 and ?47.2 million at 30 June 2012 with no debt in the respective periods.

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¹ Unaudited

About Meetic Group, European online dating leader (www.meetic-corp.com): Meetic manages two services in Europe: online dating and matchmaking, mainly under the Meetic and Meetic Affinity brands, and markets two highly complementary economic models on the dating market, one based on internet use, the other on mobile phones. By acquiring the European activities of world leader match.com in June 2009, Meetic has strengthened its first place on the continent. The group is currently established in 15 European countries, and is available in 11 languages. From inception, the group has pursued a clear leadership strategy focusing on quality, innovative marketing and perfect technological expertise. Meetic works hard to optimize service quality and to satisfy every possible expectation of its European subscribers. IAC/InterActiveCorp is Meetic's main shareholder, with an 81% stake.

Listed on Euronext Paris - Compartment B of the NYSE Euronext - ISIN: FR0004063097

* * * *

2012 Annual revenue and results will be published on
30^th January 2013, before market

Meetic
Finance department
Stéphanie Pardo
or
NewCap.
Investor relations
Pierre Laurent
Axelle Vuillermet
Tel.: +33 (0)1 44 71 94 94
meetic@newcap.fr

MEETIC

MEETIC : Results for the 3rd Quarter of 2012

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EBITDA UP +44.3%