LBi Year-end report for January - December 2007
PRESSRELEASE
Stockholm/Amsterdam, 7 January 2008
LBI International AB ("LBi"), the leading international full service digital agency, today announces its Year-end results. The report, along with market prospects, will be presented by CEO Luke Taylor, CFO Jan Norman and COO and EVP Theo Cordesius at 13.00 CET. The presentation will be broadcasted on the Internet at www.lbi.com as well as teleconferenced on +31 (0)20 717 68 68, participant pin code: 52306681#.
The teleconference will also provide an opportunity to ask questions.
FINANCIAL HIGHLIGHTS
OCTOBER-DECEMBER
- Net sales were EUR 36.6 million (35.6) for October-December.
- The October-December profit after tax was EUR 4.3 million (4.6). The operating profit was EUR 0.6 million (3.3) for October-December and the operating margin 1.6%.
- Earnings per share came to EUR 0.07 (0.08) for October-December.
JANUARY-DECEMBER
- Net sales were EUR 154.5 million (147.0) for January-December.
- The January-December profit after tax was EUR 11.0 million (10.0). The operating profit was EUR 10.2 million(10.0) for January-December and the operating margin 6.6%.
- Earnings per share came to EUR 0.18 (0.21) for January-December.
DIVIDEND
The Board will not propose any dividend for 2007
EXECUTIVE SUMMAR
- Net sales grew by 3.7% in October-December 2007, compared to October-December 2006 and by 4.3% year on year.
- EBIT-margin for the period was lower than the previous year. This decline in margin is attributed to lower than expected organic sales growth due to project delays, restructuring costs and a number of one off investment activities.
- Cash flow from operations in the fourth quarter was positive by EUR 5.5 million compared to EUR 8.2 million for the same period last year.
- Acquisitions of Iven & Hillmann in Berlin, Satama Netherlands in Amsterdam,Creative Digital Group in Atlanta and Syrup LLC in New York and a 51% stake in India offshore company Vizualize, strengthen LBi's desired position as global service provider and preferred partner for international clients. All acquisitions completed using cash and debt with no shareholder dilution.
- Recognition of deferred tax assets has been done to an amount of EUR 7.0 million gross in the fourth quarter, leading to a full-year earnings per share of EUR 0.18 (0.21).
- In December the guidance for 2007 was revised. A strategic statement will be given in late February 2008 by Luke Taylor, appointed as new CEO on January 10 2008.
The full report can be downloaded from the attached link.
For further information please contact:
Luke Taylor, CEO, LBI International AB
Jan Norman, CFO, LBI International AB
Theo Cordesius, COO, LBI International AB
Eva Ottosson, Group Communications Manager, LBI International AB
About LBi:
LBi is the leading international full service digital agency, servicing clients with marketing and technology solutions. The Company employs approx. 1,500 professionals located primarily in the major European and American business centers, such as Amsterdam, Atlanta, Berlin, Brussels, Copenhagen, London, Madrid, Milan, Mumbai, Munich, New York, Paris and Stockholm. Through interdisciplinary teams, LBi creates innovative multi-channel solutions for its national and international corporate clients by uniquely combining strategy development and creative design with specific industry expertise and latest digital technology. LBi is listed on Euronext in Amsterdam as well as on the OMX Nordic Midcap segment in Stockholm (symbol: LBI).