LBi Q1 2008
PRESS RELEASE
Stockholm/Amsterdam, 24 April 2008
LBI International AB ("LBi"), the global marketing and technology agency, today announces its Quarterly report for January - March.
Executive summary
Net sales in January-March 2008 increased by 3.8%, while at constant rates sales grew by 7.6%.
EBITDA normalised reached EUR 2.2 million (5.7%) compared to EUR 3.9 million (10.6%) last year, impacted by disappointing results in the Netherlands and Scandinavia. EBITDA was EUR 3.6 million (4.6), a margin of 9.3%.
The net result was EUR -0.7 million (2.1). The EBIT was EUR 0.6 million (3.1).
Earnings per share came to EUR -0.01 (0.03).
For the quarter we have posted an EBIT result normalised of EUR 0.4 million. This is a very poor result and has warranted aggressive intervention. We are however confident that we are tracking well to the recovery plan in key problem areas.
The Netherlands posted an operational loss (EBITDA) of EUR 1.4 million due to sharp deterioration in top line. New management is now in place and is taking further steps to improve and rebuild the new integrated Lost Boys/Satama organisation. We are confident that the Dutch organisation will return to profitability over the next two quarters.
Scandinavia posted a EUR 0.7 million EBITDA. This compared to a result of EUR 1.8 million in Q1 2007. The delta of EUR 1.1 million is almost entirely due to a sharp decrease of topline in the region. This is partly due to the trading environment becoming more competitive and challenging.
Appointment of Luke Talyor as new CEO (January 2008) followed by strategic roadmap announcement in March 2008 with priorities set at (1) Building expertise centers and strengthening full service offering in key hub markets US, UK and Asia, (2) Leveraging local best-in-class service offering, skills and country rate cards across the international client base (3) Evolving offer in local European markets and (4) Moving towards one
global brand for consistency of offer and increased recognition.
Acquisition of Netrank (January 2008), a London (UK)-based digital agency extending and deepening LBi's Search Engine Optimisation (SEO) skills.
Acquisition of OX2 (February 2008), a Belgian interactive agency specifically strenghtening LBi's knowledge and expertise in the field of website measurement and web analytics.
Acquisition of Special Ops Media (early April 2008), a New York (US) - based agency with a broad client portfolio of major national and international brands, strengthening LBi's online strategy, marketing and media planning and buying capabilities in one of LBi's key hub markets.
The full report can be downloaded from the attached link.
For further information please contact:
Luke Taylor, CEO, LBI International AB
Huub Wezenberg, acting CFO, LBI International AB
Eva Ottosson, Group Communications Manager, LBI International AB
About LBi:
LBi is the global marketing and technology agency. The Company employs approximately 1,500 professionals located primarily in the major European, American and Asian business centers, such as Amsterdam, Berlin, Brussels, London, Milan, Mumbai, New York, Paris and Stockholm. LBi blends the full range of service disciplines to create innovative multichannel solutions for national and international corporate clients. By combining business and media strategy development with creative design, industry expertise and the latest digital communications technology, LBi offers a unique , and uniquely valuable proposition. LBi is listed on OMX Nordic in Stockholm and Euronext in Amsterdam as (symbol: LBI).