Third quarter and January - September 2010
(Thomson Reuters ONE) -
Executive Summary
On 1 August 2010, the reverse merger between LBI International AB and Obtineo
Netherlands Holding N.V. (consisting of search engine specialist Bigmouthmedia
("BMM") and ? 40 million in cash) was finalised, forming a new company operating
under the name LBi International N.V. ("LBi"). Today's released statements show
pro forma 3 month and YTD figures for the period under review; for a better
understanding of the performance of the combined entities LBi and BMM. The
qualitative discussion entails the pro forma statements only. Statutory
statements, which include nine months of LBi and two months of BMM results have
been included in the back of this release. All reported figures for Q3 2010 are
fully organic.
Underlying performance strong in first quarter as merged entity
Amsterdam, 28 October 2010 - LBi International N.V. (NYSE Euronext symbol: LBI),
Europe's largest marketing and technology agency, today reports its pro forma
and statutory third quarter and YTD (9-months) results for the period ended 30
September 2010.
Third quarter highlights
* Pro forma net sales up 14% year-on-year, reflecting continued recovery of
demand and strong commercial and operational progress in the major markets;
* Adjusted EBITDA was up 12% to EUR 7.4 million year over year;
* Significant exceptional items in third quarter relating to transaction
expenses, option costs and restructuring activities as previously announced;
* Write-offs of EUR 3.5 million recorded in US and India; as a consequence EUR
2.7 million in earn-out obligations now released and remaining 49% of equity
in India now acquired for nominal amount;
* Integration of two operations proceeds according to plan, with revenue
synergies contributing to net sales uplift;
* Market sentiment expected to further improve in final quarter; accelerating
interest by clients in agencies that blend search, direct response, data and
digital skill sets.
Calendar and contact
Calendar
The year-end report for the period January - December 2010 will be released in
February 2011.
Amsterdam, 28 October 2010
Fred Mulder
Chairman
Luke Taylor
CEO & President
Contacts
Luke Taylor, CEO, LBi International N.V.
+44 20 7063 6465,luke.taylor(at)LBi.com
Huub Wezenberg, CFO, LBi International N.V.
+31 20 460 4500,huub.wezenberg(at)LBi.com
For more information, go to www.LBi.com
LBi's head office:
LBi International N.V.
Joop Geesinkweg 209 | 1096 AV Amsterdam
Box 94829 | 1090 GV Amsterdam | Netherlands
Company registration no. 30277334
Phone: + 31 20 460 45 00 | Fax: + 31 20 460 45 09
Web:www.LBi.com
About LBi
LBi International N.V. (NYSE Euronext Amsterdam: LBI) is the leading European
marketing and technology agency with a global reach.
Headquartered in Amsterdam (the Netherlands), LBi has a staff of approximately
1,750 and operations in 15 countries. As a marketing and technology agency, LBi
offers services to brands (clients) to help them engage with their customers
through digital channels across a wide spectrum of their points of engagement,
from initial awareness of the brand, through direct interaction with the
services or products offered by the brand, to on-going relationships with the
brand.
The company offers a suite of services that are designed to help companies
attract, engage and manage customers, more effectively. This full service
offering combines analytical, direct marketing and digital competences, which
means that LBi is able to develop big creative ideas in the digital space, build
and manage complex transactional websites, run complex CRM programmes and even
handle the media buying, planning and electronic public relations for blue chip
companies.
[HUG#1456333]
LBi Q3 2010 report:
http://hugin.info/86897/R/1456333/396174.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: LBi International N.V. via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 28.10.2010 - 07:30 Uhr
Sprache: Deutsch
News-ID 46781
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contact information:
Town:
Stockholm
Kategorie:
Business News
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"Third quarter and January - September 2010"
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