Aspiro AB (publ): Interim Report January - March 2010
Significant Strategic Breakthrough in Music Business Segment
The Quarter in Brief - Net sales for the first quarter were SEK 105.0 m (SEK 112.5 m). Sales increased in the Music, Mobile TV and Mobile Solutions business segments, and decreased in Mobile Entertainment and Mobile Search. - First-quarter EBITDA was SEK 1.1 m (SEK -3.7 m). - Profit/loss after tax for the first quarter was SEK -4.2 m (SEK -7.3 m). - Strategic breakthrough in the Music business segment. Aspiro and Platekompaniet launched WiMP in Norway and Aspiro signed an agreement to deliver a white label service for Universal AB in Sweden. U.S. content provider Thumbplay launched a music streaming service which uses select elements of Aspiro’s music content management system. - High growth in the Mobile TV business segment. Definitive agreement signed with a European operator with an estimated value of more than SEK 50 m over 2½ years. - Growth in Mobile Solutions. Aspiro provided the voting for the Eurovision Song Contest entries in Norway and Lithuania. - Significant profitability gains in Mobile Entertainment due to downscaled marketing and staffing. Events after the End of the Period - Aspiro launched its music streaming service in Denmark with Telenor. - Aspiro signed a micropayment agreement with Norwegian marketplace Finn.no. Outlook - Aspiro is continuing to focus on growth in Mobile TV, Music and Mobile Solutions. - Market progress is negative in Mobile Entertainment and Mobile Search, which is expected to affect overall growth and earnings performance. Aspiro is focusing on maximum profitability in these segments and is evaluating structural measures. CEO’s Comment ”Aspiro’s repositioning continues, and in the first quarter we made a breakthrough in the Music business segment with our launch of WiMP in Norway. Meanwhile, Mobile TV and Mobile Solutions are growing, and these three segments now provide the majority of our sales,” commented Gunnar Sellæg, CEO KEY FIGURES JAN-MAR 2010 (2009) Net sales, SEK m 105.0 (112.5) EBITDA, SEK m 1.1 (-3.7) Earnings after tax, SEK m -4.2 (-7.3) Basic earnings per share, SEK -0.02 (-0.04) Diluted earnings per share, SEK -0.02 (-0.04) Cash at end of the period, SEK m 63.1 (86.0) Equity/assets ratio, % 73 (71) Return on equity, % -1.47 (-2.50) Return on capital employed, % -1.57 (-2.44) Operating margin, % -4.5 -7.7 Cash flow from operating activities per share, SEK 0.04 (-0.02) 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 12 May 2010.
Tags: