Aspiro AB (publ): Interim Report January - March 2012
70% Growth in the First Quarter
First Quarter 2012
- Net sales for continuing operations for the first quarter were SEK 71.9 m (SEK 42.4 m), which corresponds to growth of 70%.
- EBITDA for continuing operations for the first quarter was SEK -16.1 m (SEK -10.2 m).
- Net profit/loss for continuing operations for the first quarter was SEK -18.7 m (SEK -14.4 m).
- The Music business segment increased sales by over 175%. Aspiro beta launched WiMP in Germany and prepared for commercial launch in the second quarter. Aspiro has signed an agreement with the operator Ziggo in the Netherlands for a version of the WiMP music service. This agreement is expected to generate sales corresponding to some SEK 9 m over two years.
- The TV business segment increased sales by 19%. Aspiro signed an extension of its previous agreement with Deutsche Telekom to deliver TV and video services in Germany and Austria. This agreement brings Aspiro net sales of SEK 24-32 m over an 18-month period.
- On 12 January 2012, Schibsted ASA announced a public offer to the shareholders of Aspiro to transfer all of their shares in Aspiro to Schibsted for SEK 1.65 in cash per share. Aspiro’s Board unanimously recommended that shareholders accept Schibsted’s public takeover bid, among others supported by a fairness opinion. Through the public takeover bid and via the stock exchange, Schibsted acquired 115,367,602 shares, and holds a total of 151,416,996 shares, corresponding to some 74.3% of Aspiro shares.
Post Period End Highlights
- Aspiro launched its WiMP music service in Germany.
- Erling Paulsen leaves his position as Head of Aspiro TV. Aspiro’s CEO Gunnar Sellæg takes on the additional role of Head of Aspiro TV going forward.
- Espen Lauritzen hired as temporary Head of Aspiro Music.
- Schibsted announced that it has moved its holdings in Aspiro to a new subsidiary, Streaming Media AS. In Streaming Media, Schibsted Media Group holds 73.4%, Ferd Capital 16.6% and Platekompaniet 10% respectively.
Outlook and Goals 2012
- Aspiro’s goal is to achieve minimum growth of 80% in the Music business segment in 2012 compared to 2011. Aspiro is planning alternative business models in Music, which will imply a funding requirement in 2012. Aspiro will launch new music services in Germany, the Netherlands, at least two more European countries and at least one country outside Europe in 2012. Aspiro will continue its initiatives in Music and expects a negative EBITDA in 2012.
- Aspiro’s goal is to achieve minimum growth of 20% in the TV business segment in 2012 compared to 2011. Aspiro no longer expects TV to achieve positive EBITDA in 2012 as previously reported, but instead expects this in the second half year.
- Aspiro’s goal is to maximize profitability in Mobile Search through effective operations.
“Aspiro has high ambitions for its WiMP music service and our TV services, and year to date, we’re in line with expectations. We’ve also launched WiMP on the German market now and are continuing our plans for further launches,” said Gunnar Sellæg, Aspiro’s CEO.
This information is mandatory for Aspiro AB (publ) to publish pursuant to the Swedish Securities Exchange and Clearing Operations Act and/or the Swedish Financial Instruments Trading Act. This information was submitted for publication at 8:30 a.m. on 10 May 2012.
For more information, please contact: Kristin Castillo Eldnes, Head of Corporate communication and IR of Aspiro, +47 908 07 389, email@example.com or Gunnar Sellæg, CEO of Aspiro, +47 901 81 528, firstname.lastname@example.org.
Aspiro is a leading streaming company with its primary focus on the WiMP music service and video services delivered to partners. WiMP is delivered direct to consumers and through partners such as operators and TV distributors. With WiMP, Aspiro is thinking globally but working locally, with editorial services and in-house teams tailoring the service for each country. Aspiro has 14 years’ experience of digital services and is a growth company with high ambitions. Aspiro is listed on Nasdaq OMX Nordic Exchange Stockholm.