PresseBox
Press release BoxID: 559480 (CLIQ Digital AG)
  • CLIQ Digital AG
  • Immermanstr 13
  • 40210 Düsseldorf
  • http://www.cliqdigital.com
  • Contact person
  • Rolf Becker
  • +49 (611) 205855-40

Cliq Digital AG reports its interim IFRS balance sheet and results as of June 30, 2012

Second half year shows significantly improved net results

(PresseBox) (Dusseldorf, ) .
- IFRS figures confirm preliminary results on pro forma basis (operating EBITDA at EUR 6.3 million)
- Scheduled non-cash depreciation and amortization lead to pro forma net income of EUR -3.2 million in the first six months 2012
- Depreciation on intangible assets of EUR 7.1 million primarily due to IFRS
- Strong equity ratio of 42.7% as of June 30, 2012

Cliq Digital AG - the former Bob Mobile AG -, a leading provider of mobile games, apps and entertainment content, reports its consolidated financial results according to IFRS (International Financial Reporting Standards) for the first six months of the 2012 financial year. Herein Dutch company Cliq BV is consolidated since February 2012, the month of the closing of the acquisition by former Bob Mobile AG.

On a pro forma basis - consolidating Cliq BV for the six months from January to June - the operating EBITDA amounted to EUR 6.3 million (adjusted for restructuring costs and merger costs of EUR 1.1 million). These figures confirm the preliminary results published in August.

Depreciation and amortization in the first half of 2012 amounted to EUR 7.1 million leading to an EBIT (earnings before interest and taxes) of EUR -1,9 million, financing costs were EUR 0.7 million and tax expenses stood at EUR 0.6 million. Net results thereby came in at EUR -3.2 million. These figures are again on pro forma basis.

Within the above mentioned depreciation and amortization EUR 6.7 million of non-cash depreciation on intangible assets (such as the customer database) have been accounted for. This is an effect of applying IFRS; shown in the full IFRS figures for the first half year of 2012 which will be published along with this corporate news today on the homepage of the company (www.cliqdigital.com).

The development in the second half of the year shows a significant improvement of the net result, due to a significant lower depreciation on the customer database (EUR 2.9 million). The company expects net results in the second half of 2012 between EUR -1.3 million and EUR 0,2 million, representing the latest operating EBITDA guidance EUR 10.5 million to EUR 12.5 million, which we hereby reconfirm.

Cliq Digitals Chief Executive Officer Luc Voncken comments: "With the preparation of the first consolidated IFRS figures following the acquisition of Cliq BV we completed the transaction also in terms of accounting. This is an important step for the further improvement of the transparency towards the market. I have full confidence in the strategy of Cliq Digital as a powerful provider of mobile games, apps and entertainment - as the CEO of the company and also as a major shareholder." Grupa Media Holding II BV, owned by Luc Voncken and his business partners, is holding 40% of the Cliq Digital AG shares.

The group reported equity as of June 30, 2012 of EUR 32.3 million, (the equity ratio amounts to 42.7%, in relation to total assets). Furthermore, it recognizes not to be fully aligned with its self imposed financial covenants, caused primarily due to lowering its EBITDA guidance during the summer. The company will strive for a balance between a prudent financial framework and investments in our business. The cash position as of June 30 amounted to EUR 7.6 million.

Following the decision of the annual general meeting in August 2012, the renaming of Bob Mobile AG into Cliq Digital AG is entered in the commercial register since November 20, 2012. Likewise, the legal seat was transferred from Straelen to Dusseldorf.

All figures have not been audited and have not undergone an audit review.

CLIQ Digital AG

Cliq Digital AG - the former Bob Mobile AG - which is based in Dusseldorf, Germany, is a leading provider of mobile entertainment with focus on games (ISIN DE000A0HHJR3). As a marketer and publisher of games, apps and other mobile value-added services, the Group is active in over 50 countries, especially by way of its direct sales to end-customers. Cliq Digital has been establishing its Freemium Mobile Games division since the end of 2011. The company was founded as Bob Mobile AG in 2005, and listed on the stock market. A decisive growth step was taken in 2012 with the acquisition of Dutch company Cliq B.V. Cliq provided the basis of the name of the newly positioned Group, which focuses on continuous and profitable growth through expanding into new countries, extending its games portfolio, as well as corporate acquisitions. The company is listed in the Entry Standard of the Frankfurt Stock Exchange.