Mobile Loyalty: Mobile Loyalty plc releases first quarter 2012 updateSe rapporten från Mobile Loyalty
Mobile Loyalty plc, the mobile advertising company traded on Frankfurt Open Market (ticker: M8L) and AktieTorget, Stockholm (ticker: MOBI SDB) (the "Group"), announces an unaudited operational and financial update for the three months ended 31 March 2012.
Starting in 2011, the Group is transitioning into a more sales and marketing driven organization, a process that has continued during the first quarter of 2012. Two new morning paper customers, namely Ystads Allenhanda and Trelleborgs Allehanda, were successfully launched during the first quarter. With these two new titles being serviced by Mobile Loyalty the number of advertisers in our system continues to grow. The total number of active advertisers in Mobile Loyalty´s system across different titles has grown to close to 400, of which the majority was signed up for during the last 6 months.
As previously communicated, Mobile Loyalty signed an agreement with TV4 regarding a new mobile advertising service. The project was started in Q1 and is running on schedule with a launch target in the second half of 2012.
We continue to execute the growth strategy that was established in the beginning of 2011. Part of this strategy was to gain expertise, scale and customers by pursuing acquisitions. In January, 2012 the acquisition of Encons Nordic AB ("ENC") was finalized. The integration of the ENC organization and product offering is progressing according to plan. To leverage ENC's sales organizations and customer base within the Group, all the products and services from both ENC and Mobile Loyalty Europe AB ("ML Europe") for media advertising solutions will be merged into one sales and marketing organization. Furthermore the acquisition of Scandvision Holding AB ("Scandvision") was successfully closed in March, 2012. The Scandvision acquisition complements the Group´s total offering and brings additional value to new and existing customers across all our target segments including brand communication, media, and advertising.
The Group's customer pipeline is growing and during the first quarter of 2012 additional resources were brought in to strengthen the project delivery organization in order to manage and execute multiple customer projects in parallel. Additional suppliers and vendors have been identified and assessed in order to prepare for a more aggressive roll-out of services to our customers. Indeed, there has been a significant increase in interest from international customers and potential partners from outside the Nordic market, and our efforts in ramping up our delivery organization will also address the need for parallel customer delivery teams and increased customer support.
Comments to the financial statements
This report presents the consolidated financial statement for the Group that for the first time also include Encons Nordic AB (transaction closed 18 January 2012) and Scandvision Holding AB (acquisition closed 1 March 2012). The 31 March 2012 consolidated income statement comprises 3 months of Mobile Loyalty Europe AB, 3 months of ENC, and 1 month of Scandvision Holding AB. The 31 March 2012 consolidated balance sheet represents Mobile Loyalty Europe AB, Mobile Loyalty plc, Encons Nordic AB, and Scandvision Holding AB as at 31 March 2012.
* Sales for the quarter increased to EUR 518,000 (1Q11: EUR 98,000).
* Core EBITDA for the quarter was EUR -351,000 (1Q11: EUR -74,000). Core EBITDA reflects the operating result before exceptional items, one-off charges associated with the IPO and capital raising efforts.
* Loss before tax was EUR -932,000 (1Q11: EUR -182,000).
Corporate finance related activities
In Q1 2012, the Group completed two successful capital raising activities that resulted in approximately EUR 1,3 million in new capital.
In March, the Group successfully placed 4,000,000 shares at EUR 0,23 per share, consisting of a mix of new shares and treasury shares obtained through the Scandvision acquisition, thus raised a total of EUR 904,000 in new capital. This fundraising activity was initiated to enable the Group to further develop the new product category together with TV4 as described above. Additional 1,000,000 shares were subscribed for by the founder of the company, pending an approval from the 2012 AGM on May 31, 2012.
As part of the Group's overall strategy to focus on a more aggressive market rollout and an extended delivery organisation in the target media segment, the Group's organisational structure will be subject to further review. The minority stakes in associated companies will be either fully integrated or divested. As a first step, the Company divested its minority stake in Scandvision CPH A/S as communicated in late May, 2012.
As to further boosting the Group's overall corporate governance, the Group has recruited key competencies in order to build a stronger management team as well as to build for growth and international expansion. For example, the Group appointed Mr. Ulf Angelin as the group CFO in the first quarter of 2012.
Based on statistics and feedback from our existing customers who are now using Mobile Loyalty´s service for their mobile offering, in combination with the development of the mobile market, we are receiving confirmation as regards to the market development and projections we envisioned and planned for a year ago. This is strongly validating the Group's strategy. We now have a number of customer reference cases that provide us with necessary validation of the Group's technology as well as its business model.
We are looking very much forward to a very busy period, where customer delivery execution and performance will be key elements for our success.
On behalf of the Board of Directors
Se rapporten från Mobile Loyalty Further information about Mobile Loyalty
Publicerat: 6/1/2012 10:34:12 AM