PRESS RELEASE
FIRST HALF 2005 OPERATING PROFIT UP 82%
On September 15, 2005, the Board of Directors of Jet Multimedia closed accounts for first half of fiscal year 2005, which have been submitted on September 16 to the Supervisory Board. Consolidated revenue for the for first half of 2005 amounted to E 112.4 million compared to E 79.6 million in 2004, up 41%. Operating profit increases by 82% to E 5.8 million against E 3.2 million in 2004. The evolution of the net profit is impacted by a deferred tax charge in France (against a deferred tax profit in 2004) and an increase of the taxes outside France, noticeably in Spain after Mediafusion integration.
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Comparable proforma data : by integrating the activity of Mediaplazza, bought in April 2004, and Mediafusion, bought in January 2005, over the first half of 2004 and by excluding the activity of Métaphora, sold in June 2004, the consolidated revenue increases by 5% and the operating profit by 22%.
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Activity Segmentation
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The segmentation by businesses shows the following:
- The Multimedia Hosting & Delivery Platform business, growing 45% to E 100.7 million, and makes 45% of its sales outside of France. Despite a very competitive environment and significant investments for mobile services, this business increases its operating profit, multiplied by more than 2.5 compared to first half of 2004.
Comparable proforma data: the half year consolidated revenue for this business rises by 5% and its operating profit increases by 27%. - The Advertising & Communication business increases by 13% compared to first half of last year and represents approximately 10% of the sales of the group. This growth is achieved with an increase of the operating income.
Simplified balance sheet
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Jet Multimedia group shows a strong balance sheet, coherent with its development strategy. After the acquisition of Mediafusion, paid in cash and Jet Multimedia shares, the net cash of the group amounts to approximately E 21 million by the end of June 2005 and stockholder’s equity is E 88 million. The liabilities are integrating the total amount of possible earn-outs for Mediaplazza and Mediafusion, approximately E 19 million.
With a balanced activity, distributed between mass-market services and business solutions, between France and International, covering all technologies for online services, the group benefits from the deployment of broadband Internet and develops its Mobile activities.