LINK Mobilty Group ASA: Financial report first quarter 2016
LINK Mobility Group ASA (LINK) confirms its strategy and reports solid revenue growth in the first quarter 2016 across all main markets.
The first quarter is traditionally the weakest quarter of the year following the seasonal variations in the business to consumer (B2C) market. The strong revenue growth in the quarter confirms the positive underlying trend of solid growth in the market for mobile messaging and mobile solutions delivered by LINK. The growth rate increased throughout the quarter, indicating solid growth going forward.
LINK achieved operating revenues of NOK 110.5 million in the first quarter, up 53 per cent compared with corresponding period last year. Adjusted EBITDA was recorded at NOK 11.2 million in the first quarter, up 30 per cent compared with the corresponding period last year. Compared with the pro forma key figures for the first quarter last year, there is a revenue growth of 30 per cent and a fall in EBITDA. The fall in the EBITDA margin is due to lower margins on high volume international SMS, build-up of the new business segment LINK Mobile Intelligence (Big data) and investment in group structures to prepare to further profitable growth.
Though the acquisition of the Danish mobile marketing and messaging company Responsfabrikken announced in March 2016, LINK continues to also deliver on its strategy of increasing its markets shares and expanding into new market though acquisitions.
The financial position is good, with a solid cash position of NOK 27.0 million. In March 2016 LINK was grated loan facilities totaling NOK 85 million from Danske Bank for the funding of acquisitions. The loans will bear an interest of NIBOR 3M + 4 per cent, and will secure competitive financing of LINK’s further acquisitions.
LINK’s main priorities going forward will be to increase market shares in existing markets and to enter new markets through a combination of organic growth and acquisitions.
Please find attached financial report for the first quarter 2016
For further information, please contact:
IR Contact Siw Ødegaard, CFO
Link Mobility Group ASA
Mob: 47 95 75 98 48
Havnelageret - Langkaia 2, NO-0150 Oslo, Norway