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Aspiro AB (publ): Interim Report January-June 2011

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High Growth in Music—Over 300,000 Paying Users

Second quarter 2011

  • Net sales for continuing operations for the second quarter were SEK 71.3 m (SEK 60.4 m), equating to growth of some 18%.
  • EBITDA for continuing operations for the second quarter was SEK -10.9 m (SEK -9.2 m).
  • The profit/loss after tax for continuing operations for the second quarter was SEK -12.8 m (SEK -9.5 m).
  • The Music business segment increased sales by over 180% on the corresponding quarter of the previous year. The number of paying users passed 300,000, double the level at the end of the first quarter. Aspiro signed a letter of intent with an Irish operator.
  • The TV business segment improved EBITDA on the corresponding quarter of 2010 by SEK 1.5 m.
  • The Mobile Solutions business segment improved its earnings net of direct expenses by SEK 1.2 m (some 17%) and its EBITDA by SEK 3.3 m on the corresponding quarter of 2010.
  • Aspiro transferred Miles Ahead to EveryMatrix Ltd. from 1 April 2011.

Events after the Reporting Period

  • Aspiro’s employees exercised 2,315,000 staff stock options in the 2009/2011 staff stock option plan. Exercise means Aspiro issuing 2,315,000 new shares for total issue proceeds of SEK 3,009,500. The total number of shares is now 192,853,115, with the corresponding number of votes. The managers purchasing shares included Aspiro’s CEO, the Head of Music, Head of TV and Head of Accounting.
  • Aspiro’s music streaming service WiMP won a Meffys—the Oscars of the mobile world, for Best Music Service.

Outlook

  • Aspiro is maintaining its focus on growth, primarily in the Music and TV business segments. Aspiro will achieve improved profitability through growth.
  • Aspiro’s goal is to achieve minimum 150% growth in the Music business segment in 2011 compared to 2010. Aspiro is conducting several concrete discussions with potential partners on new launches of music streaming services.
  • Aspiro’s goal is to achieve minimum 10% growth in the TV business segment in 2011 compared to 2010. This goal has been downscaled from the previously stated 25%, due to sales processes in the first half-year taking longer than expected. With cost control and effective operation, Aspiro
    expects improved profitability in TV going forward.
  • Aspiro’s goal for the Mobile Solutions business segment is to improve its earnings net of direct expenses by a least 15% in 2011 compared to 2010.

”Aspiro’s Music unit is continuing its brisk growth, in line with our high growth goal. Music is now Aspiro’s largest business segment in sales terms, and has passed 300,000 paying users, double the previous quarter. So far, our music services are present in four countries. We’re also continuing negotiations on further launches. We’re improving profitability in TV and Mobile Solutions step by step, and also noting positive progress on the customer side for these segments going forward,” comments 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 11 August 2011.

For more information, please contact: Kristin Castillo Eldnes, Head of Corporate communication and IR of Aspiro, +47 908 07 389, kristin.eldnes@aspiro.com or Gunnar Sellæg, CEO of Aspiro, +47 901 81 528, gunnar.selleg@aspiro.com.

About Aspiro
Aspiro has unique positioning as the world’s only provider of complete TV and music streaming services for partners that want to put their own branding on the service. Aspiro also provides the music streaming service WiMP directly to consumers on selected markets. Aspiro has over ten years’ experience in mobile technology and retail in northern Europe, and delivers services to partners worldwide like Deutsche Telekom, Telefónica O2, Telenor, 3, TeliaSonera, the BBC, Aftonbladet, mBlox, TVNorge, Entel and VG. Aspiro is listed on Nasdaq OMX Nordic Exchange Stockholm. Sales for continuing operations in 2010 were SEK 262m and the company has some 120 employees.

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