Financial Press Releases
Press Release in accordance with CONSOB Regulation No. 11971/1999 and subsequent modifications
DADA APPROVES THE QUARTERLY REPORT AS AT DECEMBER 31st 2007: REVENUES* FOR 2007 TO €158.5 MILLION (+42% COMPARED TO 2006).
DADA’S INTERNATIONAL BUSINESS REPRESENTS 47% OF ITS TURNOVER AND CONTINUES TO GROW.
EBITDA** AND EBIT GREW RESPECTIVELY TO €22.2 MILLION (+41%) AND €15.8 MILLION (+47%).
NET PROFIT TO €12.5 MILLION.
Fourth quarter 2007 revenues at Euro 43.4 million, +39% compared to Q4 2006.
International revenues accounted for 47%, with a significant contribution from Brazil and Spain.
Positive EBITDA for the fourth quarter of Euro 6.5 million compared to Euro 4.6 million in Q4 2006 (+41%).
The EBIT grew to Euro 4.1 million increasing by 31% compared to the same period of the previous year.
Florence, February 4th, 2008
– The Board of Directors of Dada S.p.A. (MTAX of Borsa Italiana, STAR:DA.MI), chaired by Paolo Barberis, today approved the Quarterly Report of the Dada Group as at December 31st, 2007.
Consolidated revenues of the Dada Group in 2007 reported an increase of 42% compared to the previous year, amounting to Euro 158.5 million, above the prior guidance of Euro 140-150 million, announced in December 2006. International business accounts for 47% of the consolidated turnover compared to 39% of the previous year with a significant contribution of the Brazilian and Spanish markets.
The EBITDA increased from Euro 15.7 million to Euro 22.2 million, with a margin on revenues of 14%. The consolidated EBIT for 2007 has grown to Euro 15.8 million (+47% compared to 2006) whereas the net result is at Euro 12.5 million, slightly improved compared to the previous results – of Euro 12.45 million – positively impacted by the gain deriving from the sale of Planet Com S.p.A. equal to Euro 2.2 million.
In the last quarter of 2007, Dada Group obtained revenues equal to Euro 43.4 million (+39% compared to the same period of 2006) and an EBITDA equal to Euro 6.5 million with an increase of 41% compared to the fourth quarter of 2006. The EBIT was equal to Euro 4.1 million with a growth of 31% compared to Q4 2006. The consolidated net profit of the Dada Group in the fourth quarter of 2007 was positive for Euro 2.9 million compared to €3.3 million, positively influenced by the assessments for the deferred income taxes. The taxation for the fourth quarter of 2007 was equal to Euro 0.03 million versus the income taxes for Euro 1.2 million of the last quarter of the previous year.
The consolidated Net Financial Position as at December 31st 2007 was equal to Euro -16.8 million, compared to a value of Euro +11.5 million as at December 31st 2006 and of Euro -18.3 million as at September 30th 2007. In 2007 the financial position was significantly influenced by the acquisition of Namesco Ltd., which was completed last July with a total outlay of Euro 36.4 million.
Perimeter of consolidation
Comparing the fourth quarter of 2007 with the previous periods, it is noticed that in the fourth quarter of 2006 the company Softec S.p.A. was entirely consolidated with a contribution to sales of Euro 0.6 million and that in the fourth quarter of 2007 the company Namesco Ltd. was entirely consolidated giving a contribute all together of Euro 3.4 million.
In the last quarter year of 2007, there has been the operative start up of the joint venture Dada Entertainment LLC, product of the cooperation between Dada and SONY BMG MUSIC ENTERTAINMENT, aimed at developing a new offering of entertainment services accessible via web and mobile.
Predictable management development
The performance for year 2007 registered steady improvements of the economic results compared to those referred to the same period of the previous year and an increase compared to the estimates. At present there are no elements which modify the expectations announced on December 4th, 2007 which forecast consolidated revenues for 2008 at over Euro 190 million.
The executive manager in charge of writing the Company’s accounting documents, Federico Bronzi, according to the second comma of article 154 bis of D.Lgs 58/98, declares that the accounting information contained in the present release matches with the account books and the accounting entries of the Company.
* Starting from October 1st, 2007 the participation in Dada Entertainment LLC is consolidated using the equity method
** EBITDA: before write-downs and extraordinary items