Press Release in accordance with CONSOB Regulation No. 11971/1999 and subsequent modifications
The Shareholders’ Meeting of DADA approved the Parent Company and consolidated financial statements at December 31, 2005:
Revenues at Euro 69.9 mln (+45% compared to 2004),
EBITDA at Euro12.7 mln (+108%),
Net Profit at Euro 7.2 mln.
The Shareholders’ Meeting of DADA unanimously approved the Parent Company and consolidated financial statements at December 31, 2005:
- DADA Group Revenues in 2005 amounted to Euro 69.9 million (+ 45% compared to 2004),
- EBITDA amounted to Euro 12.7 million (+108%),
- Net Profit amounted to Euro 7.2 million (compared to a loss of Euro 2.7 million in 2004),
- The Net Financial Position at December 31, 2005 is a positive amount of Euro 23 million (+26%).
The Shareholders’ Meeting of DADA also appointed the new Board of Directors and the new Board of Statutory Auditors for the three-year period 2006-2008, the external audit firm and renewed the authorisation to purchase and sell treasury shares.
Florence, April 21, 2006 - The Shareholders’ Meeting of DADA S.p.A. (MTAX STAR, Italian Stock Exchange: DA.MI), under the chairmanship of Paolo Barberis, today approved unanimously the Parent Company and consolidated accounts of DADA for the year ended December 31, 2005, as proposed by the Board of Directors in the meeting of March 16, 2006.
In 2005, DADA confirmed its leadership position in Italy in the community and entertainment services via web and mobile and continued its international expansion in the VAS mobile sector (mobile value added services) in new markets, such as the USA, England, France, Germany, Portugal and China.
In 2005, DADA Group Revenues amounted to Euro 69.9 million (up 45% compared to the previous year), while consolidated EBITDA was positive for Euro 12.7 million, with an 18% margin on consolidated revenues and a growth of 108% compared to Euro 6.1 million in the previous year.
The Operating Result in 2005 was a profit of Euro 8 million, reporting a significant increase compared to the previous year, which recorded a loss of Euro 0.3 million. The amortisation and depreciation of intangible and tangible fixed assets amounted to Euro 3.3 million, a small increase compared to 2004, which amounted to Euro 3.1 million, due to the capital expenditures made during the year. The Net Result also improved significantly, amounting to Euro 7.2 million and equal to 10% of the consolidated revenues, compared to a loss of Euro 2.7 million in the previous year.
In 2005, the Parent Company DADA S.p.A. recorded a similar result to that at Group level. The total sales amounted to Euro 49.6 million, with an increase of 89% compared to 2004. It is recalled that on July 27, 2005, the Parent Company incorporated the 100% subsidiary companies Wireless Solutions S.p.A and Clamm S.r.l, with retrospective accounting effect to the beginning of the year.
With reference to the Parent Company, the Ebitda was Euro 9.4 million, a significant improvement compared to the previous year, which amounted to Euro 1.4 million.
The short-term Net Consolidated Financial Position at December 31, 2005 was a positive amount of Euro 23 million, compared to Euro 18 million at December 31, 2004 and Euro 21.6 million at September 30, 2005. During the year, therefore, there was an increase of over Euro 5 million in absolute terms, equal to over 26% on an annual basis.
It is important to underline that the performance in 2005 benefitted significantly from the strong growth of DADA on international markets. With reference to the final quarter of 2005, in particular, the international activities amounted to 16% of the consolidated sales.
Finally, it is reported that the international activities further increased in the first months of the current year.
Other resolutions of the Shareholders’ Meeting
The Shareholders' Meeting of DADA also appointed the new Board of Directors for the three-year period 2006-2008 - as the current Board’s term of office has expired - and confirmed Paolo Barberis as Chairman, founding shareholder and Chairman of DADA since 1995.
The new Board is composed of the following Directors, and has a similar composition to the previous board: in addition to the Chairman Paolo Barberis, Angelo Falchetti, Vittorio Colao, Salvatore Amato, Marco Argenti, Aldo Bisio, Lorenzo Lepri Pollitzer, Raffaello Napoleone, Barbara Poggiali, Alberto Ronzoni, Giorgio Valerio, Pietro Varvello and Danilo Vivarelli.
As the term of office for the Board of Statutory Auditors has also expired, a new Board was appointed for the three-year period 2006-2008, composed of: Pier Angelo Dei (Chairman), Massimo Cremona (standing member), Piero Alonzo (standing member), Claudio Pastori (alternate member) and Francesca Pirrelli (alternate member).
The Shareholders’ Meeting, on the expiration of their appointment, re-appointed Reconta Ernst & Young S.p.A. as external auditors for the period 2006-2011 and also renewed the authorisation of the Board of Directors to purchase, within eighteen months of the resolution, up to a maximum number of ordinary shares representing 10% of the share capital within the limits of distributable profits and available reserves from the last approved financial statements, for a price not less than 20% and not higher than 10% of the most recent share price in order to use it as an investment instrument. At the same time, the Shareholders’ Meeting renewed for a further 3 years the authorisation granted to the Board of Directors of DADA to sell the treasury shares, already existing in portfolio or purchased as a result of the present authorisation, for a price not lower than 95% of the average reference price of the previous 30 days before the board resolutions.
