Financial statement communiqué january - december 2017

NET TURNOVER IN Q4 2017 INCREASED BY +69% AND EBITDA BY +32% COMPARED TO CORRESPONDING PERIOD THE PREVIOUS YEAR

OCTOBER - DECEMBER 2017

  • Net turnover totaled SEK(k) 36,780 (21,811), an increase of 68.6%. 
  • EBITDA totaled SEK(k) 7,241 (5,492) and the EBITDA margin reached 19.7% (25.2), an increase of SEK(k) 1,750 corresponding to 31.9%.
  • Earnings after tax totaled SEK(k) -7 (3,796).
  • The period's cash-flow from operating activities totaled SEK(k) 12,512 (5,216).
  • Result per share reached SEK 0.00 (2.20).
  • Earnings after tax excluding acquisition depreciations totaled SEK(k) 3,714 (4,675)*

* See description of acquisition depreciations and alternative key indicators on page 8. 

JANUARY - DECEMBER 2017

  • Net turnover totaled SEK(k) 122,115 (80,981), an increase of 50.8%. 
  • EBITDA totaled SEK(k) 22,644 (16,763) and the EBITDA margin reached 18.5% (20.7), an increase of SEK(k) 5,882 corresponding to 35.1%.
  • Earnings after tax totaled SEK(k) 2,211 (9,133).
  • The period's cash-flow from operating activities totaled SEK(k) 13,867 (15,999).
  • Result per share reached SEK 1.27 (5.30).
  • Earnings after tax excluding acquisition depreciations totaled SEK(k) 13,563 (11,932)*

* See description of acquisition depreciations and alternative key indicators on page 8.

CEO comments

"Cash-flow from operating activities increases sharply."
For the period, the company shows strong turnover growth up by 69% compared to the previous year, SEK(k) 36,780 to SEK(k) 21,811. Encouragingly, organic growth stands at 24% against the previous year. EBITDA increases by 32% in the period to SEK(k) 7,241 compared to SEK(k) 5,492. The order book is bigger compared to the same period in the previous year, and the cash-flow from operating activities has increased sharply to SEK(k) 12,512 from SEK(k) 5,216 for the previous year. During this period, the board of directors took the decision to propose a shares distribution of SEK 2.75 per share, compared to SEK 2.50 per share for 2016.

Media
In the last quarter of the year, Media saw continued focus on increased usage rates with regard to our sellable group media space, which we called "media stocks" in the past. As a further step in this direction, we hired Alexis Logothetis as sales director for Media. Alexis was previously with Clear Channel where he assumed the dual roles of sales director and digital business developer. The role of Yield Manager, with the task of "filling seats" as in the airline industry, i.e. to sell and package media stocks in an optimal manner for the entire group, is also something new for 2018. The launch of our new website with VR features and a completely new planning tool for our buyers has received a very positive response and generated several spontaneous enquiries about our products.

The business sector Media increases in the period by 87% compared to the same period the previous year, corresponding to SEK(k) 29,434 against SEK(k) 15,780. The organic growth rate within the business sector reaches 25% at the same time that the media agency barometer for the period October to December indicates an increase in the outdoor advertizing market of 16%, which means that AdCityMedia is continuing to take market shares. In the period, we received an order from Publicis Media Sweden AB worth approx. Million SEK 9.5 concerning a newly established media area in Stockholm.

We also signed an agreement with Clear Channel that gives them the right to sell on approx. 80 digital media surfaces in nine shopping centers where we have the infrastructure. The background reasoning behind the agreement is that we want to focus on our digital large format advertizing. The agreement came into effect in November 2017 and is predicted to yield an annual income of approx. SEK(k) 8,500 of which SEK(k) 6,500 is guaranteed.

Retail Tech 

Retail Tech (previously Creative) has increased by 22% in Q4 compared to the previous year and the entire increase is organic. Towards the end of the year, policy formulation work was initiated and several processes of change, including among others, the employment of a sales manager, a Key Account Manager and a retail strategist, all with sound experience from retail and digitalization. We see great opportunities to help our customers in the future with the transformation that physical stores are undergoing. After the period came to an end, we signed a digital signage agreement with the gym chain store Puls & Träning. The agreement covers the provision of digital screens to the gym chain store's facilities, of which 19 are ready for roll-out. Order potential of approx. SEK(k) 4,500 for all 77 facilities. 

Acquisition
On 21 December, we signed an acquisition agreement with the system development company Bitlogic Media AB, which means that we now own all rights to the global reservation platform that has been growing since 2006. This ensures that AdCityMedia is both at the forefront and a driving force behind the evolution of the digital outdoor advertizing market. Moreover, there is a financial incentive for the company thanks to increased media stocks, lower licence and consultancy fees, but above all it opens the way to a new, global income flow in the form of licence fees. The share cash trading value totals Million SEK 2, with 18,798 issued shares in AdCityMedia.

We are still delighted with the integration of previous acquisitions and continue to estimate other companies. This has led to us, after the period came to an and, signing an acquisition agreement with Norway's third largest outdoor media company, Prego Media. 

Prego was created in 2013, has 8 employees and is the third largest OOH actor in Norway. The company's range of services consists of, among other things, analogue and digital advertizing space in everyday goods trades and car parks as well as analogue billboards. Those behind the company have gained experience from outstanding actors in the media industry such as Clear Channel and Moveboards Media (which later became Nova Vista).  The acquisition is part of our strategy to reach out to a global market with our digital reservation platform and the idea is to portray proof of concept with our own company in the new market. Prego's turnover is estimated to total Million NOK 32, with an EBITDA margin of 10.9% for 2017. This entails that pro forma, including 2017, AdCityMedia's turnover totaled approx. Million SEK 155 and had an EBITDA of approx. Million SEK 26, which represents an increase of 27%, or 15% higher if Prego Media is included. Payment for the acquisition shall be made at a fixed price of Million NOK 16.75 and 66,116 shares in AdCityMedia. Maximal contingent consideration can total Million NOK 19.

I repeat myself from the previous quarter that we, on the basis of the high growth that prevails and in view of the company's aim to grow via acquisitions, we see it as justified to make a change in listing in the long term. In preparation for this, a process has been started to evaluate a potential conversion to IFRS. If everything goes as planned, the aim is to go over to IFRS in Q1 2018. A positive effect of the IFRS regulatory framework for us is that goodwill depreciations that total up to approximately Million SEK 11.4 annually will not bring down results.

When we listed the company in 2015, we did so based on two assumptions; firstly that the media map would be redrawn when a transition occurs not only from TV and print, - but also from mobile and web devices - to the outdoor advertizing market, and secondly that outdoor advertizing would be digitalized. January shows, as per the following diagram, clear signs that we are on the right track. Outdoor media buying has increased by 30% against the previous year and in principle, all other media types are losing ground. 

Digital advertizing out-of-home (DOOH) the world over is expected to increase from 12.52 billion dollars to 26.21 billion dollars between 2016-2023.

We have made several investments in personnel and marketing in the period in order be at full strength to tackle 2018 and seize those opportunities we see in the DOOH and Retail Tech market. Both business sectors promise a very bright future with strong, underlying growth, for which we believe ourselves to be well-positioned to take market shares. I look ahead with precaution to the coming year.

Anders Axelsson,
CEO A City Media AB (publ)

2018-09-24
Regulatorisk

AdCityMedia AB, listat på Nasdaq First North, erhåller media-order om 1,6 MNOK via dotterbolaget Prego Media AS. Ordern kommer att avräknas fram till årsskiftet med start i september månad 2018.

2018-08-27
Regulatorisk

AdCityMedias nettoomsättning ökar 49 % organiskt och totalt 60 % under årets andra kvartal jämfört med motsvarande period föregående år.

APRIL - JUNI 2018

  • Nettoomsättningen steg med 60,2 % till 44 093 (27 517) TSEK
  • Periodens resultat uppgick till 4 710 (3 237) TSEK
  • EBITDA1 uppgick till 7 032 (5 112) TSEK och EBITDA-marginalen uppgick till 15,9 % (18,5)
  • Kassaflödet från den löpande verksamheten uppgick till 6 164 (3 749) TSEK
  • Rörelseresultat uppgick till 5 564 (3 959) TSEK
  • Resultat per aktie före utspädning uppgick till 2,64 (1,87) kr.
  • Resultat per aktie efter utspädning uppgick till 2,64 (1,85) kr.

1 EBITDA inkluderas under perioden av en positiv justeringseffekt om 938 TSEK, gällande slutlig tilläggköpeskilling för dotterföretaget All In Media Sverige AB. 

2018-06-13
Regulatorisk

AdCityMedia AB (publ) har idag, den 13 juni 2018, tillträtt tidigare offentliggjorda förvärvet av det norska mediabolaget Prego Media AS. Förvärvet sker enligt tidigare förmedlat pressmeddelande från den 20 februari 2018.

2018-06-07
Regulatorisk

Årsstämma har hållits i AdCityMedia AB ("AdCityMedia" eller "Bolaget"), listat på Nasdaq First North Stockholm, den 30 maj 2018. Vid årsstämman fastställdes resultat- och balansräkning samt avstämningsdag för utdelning och styrelsen och verkställande direktören beviljades ansvarsfrihet för räkenskapsåret 2017.

2018-05-28
Regulatorisk

AdCityMedias nettoomsättning ökar organiskt med 22 % under årets första kvartal jämfört med motsvarande period föregående år. Bolaget övergår under perioden till IFRS vilket innebär att nettoresultatet för helår 2017 ökar från 2 211 TSEK till 13 846 TSEK, vilket per aktie innebär en förändring från 1,26 SEK till 7,90 SEK.

JANUARI - MARS 2018

  • Nettoomsättningen steg med 23,2 % till 34 198 (27 760) TSEK
  • Periodens resultat uppgick till 2 148 (2 743) TSEK
  • EBITDA uppgick till 4 105 (4 448) TSEK och EBITDA-marginalen uppgick till 12,0 % (16,0)
  • Kassaflödet från den löpande verksamheten uppgick till 1 847 (824) TSEK
  • Rörelseresultat uppgick till 2 647 (3 229) TSEK
  • Resultat per aktie före utspädning uppgick till 1,21 (1,59) kr.
  • Resultat per aktie efter utspädning uppgick till 1,21 (1,57) kr.
1
2
...
15
>>

Prenumerera

Pressmeddelanden och rapporter via E-post.