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Aspiro AB (publ): Year-end Report 2014

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Fourth Quarter 2014

  • Net sales for the fourth quarter were SEK 74.5 m (69.3 m), an increase of 8%.
  • EBITDA for the fourth quarter was SEK -35.8 m (SEK -17.7 m). 
  • Profit/loss for the quarter was SEK -41.5 m (SEK -19.1 m).
  • The group’s cash and cash equivalents were SEK 63.5 m (SEK 58.6 m) as of 31 December 2014. It is the Board’s assessment, that given the current strategic plan and the associated capital needs, the company is not fully funded for the coming twelve months. The Board is considering various funding alternatives. The Board further notes that a change of ownership of the company, inter alia by way of a completion of the public bid from Project Panther Bidco, could give rise to new funding opportunities for the company.
  • On 31 December 2014, Aspiro’s music streaming services had 500,000 paying users, down by 12,000 on the end of the previous quarter. The number of HiFi customers was 35,000 (12,000 on TIDAL), against 20,000 at the end of the previous quarter.

The Period January-December 2014

  • Net sales for the period were SEK 303.2 m (SEK 248.3 m), a 22% increase.
  • EBITDA for the period was SEK -78.5 m (SEK -63.7 m).
  • Net profit/loss for the period was SEK -84.1 m (SEK -82.4 m).

Highlights of the Quarter

  • On 9 October, Aspiro reported that it had signed agreements with 16 new integration partners for the launch of its HiFi streaming service in the US and UK.
  • Aspiro launched its HiFi streaming service TIDAL in the US and UK on 28 October, and had 32 integration partners.
  • On 1 December, Aspiro reported that its global expansion was continuing with the launch of the company’s streaming service in Canada, Switzerland, Austria and Pakistan.

Post Period End Highlights

  • On 13 January, Aspiro reported that its global expansion was continuing with the launch of the company’s HiFi 
  • streaming service in the Netherlands, Belgium, Luxembourg, Finland and Ireland. 
  • On 30 January, the Board reported its recommendation to the stock holders to accept the public bid from Project Panther Bidco at 1.05 SEK per share.
  • Aspiro prepared the launch of TIDAL in another 20-plus countries. In the first quarter the service will launch in Austria, Czech republic, Cyprus, Denmark, Estonia, France, Greece, Hungary, Italy, Latvia, Lithuania, Malta, Norway, Portugal, Romania, Switzerland, Singapore, Slovakia, Slovenia, Sweden, South Africa and Turkey.

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 08:30 am on 5 February 2015.

For questions, please contact CEO Andy Chen, (+47) 948 317 83, andy.chen @ aspiro.com

Aspiro in Brief
Aspiro is a media technology company on the forefront in the ongoing redefinition of music consumption. Through its subscription service WiMP, the company offers a complete music experience with HiFi quality audio, HD-video and curated editorial. In parallel, Aspiro is a content provider to the online media industry through RADR, helping its partners to attract and retain visitors on their web sites. For more information, please visit www.aspiro.com.

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