Press Release in accordance with CONSOB Regulation No. 11971/1999 and subsequent modifications
2006 Revenues equal to Euro 111.4 million (+59.4%)
EBITDA at Euro 15.7 million (+23%)
Net Profit at Euro 12.5 million (+74%)
Positive Net Financial Position of Euro 11.8 million after acquisitions of UPOC, Nominalia and Splinder.
International business accounts for 37% of consolidated revenues and continues to grow
Fourth quarter 2006 revenues at Euro 31.3 million: +33.1% compared to Q4 2005
Positive EBITDA for the fourth quarter of Euro 4.6 million compared to
Euro 3.4 million in Q4 2005
Consumer business amounted to 83% of sales in Q4 2006
International revenues accounted for 40% of sales in the fourth quarter, compared to 15% in Q4 2005
Florence, February 12, 2007 - The Board of Directors of DADA (MTAX STAR: DA.MI), chaired by Paolo Barberis, today approved the consolidated Quarterly Report as at December 31, 2006.
Consolidated revenues of the Dada Group in 2006 reported an increase of 59.4% compared to the previous year, amounting to Euro 111.4 million, while the consolidated EBITDA reported a further improvement, from Euro 12.7 million to Euro 15.7 million. The Group’s operating result for the 12 months amounted to Euro 10.8 million (Euro +2.8 million at 31/12/2005), with a positive net profit of Euro 12.5 million, compared to a positive net profit of Euro 7.2 million in the previous year.
In the last quarter of the year, the Dada Group recorded revenues of Euro 31.3 million (+33.1% compared to the same period in the previous year) and an EBITDA equal to Euro 4.6 million (+35.7% with respect to Q4 2005).
A positive short-term Net Financial Position for the full year of Euro 11.8 million was recorded as at 31/12/2006 compared to Euro 23 million on 31/12/2005: this decrease is substantially due to the investments made for the acquisitions of Nominalia SL, a leading player in the Internet domain sector in Spain, UPOC Networks Inc., a well established leader in providing web and mobile value added services in the USA, and lastly Tipic Inc., an international leader in the blog and social networking community sector through the brands Splinder and Motime.
The positive results obtained by the Dada Group throughout 2006 highlight the constantly increasing revenues achieved through international business activities which accounted for 40% of total consolidated revenues for the last quarter.
Dada’s consumer offering is available, in addition to Italy, in the United States – through its subsidiary Dada USA – in the United Kingdom, Germany, France, Spain, Belgium, Austria, Portugal, China, Brazil and Australia.
As a reminder it was noted that on March 2, Dada will attend the STAR Conference 2007, held in Milan and organised by Borsa Italiana, providing further information on the Group’s 2006 results and its future Outlook.
In addition, the Board of Directors today issued 25,000 new share options for the same number of shares to be assigned to the new top managers who entered the Dada Group in the United Sates during 2006 as part of their incentive and loyalty program. This is as per the actions agreed to in the shareholders meeting held on December 30 2005 to be carried out by the Board of Directors of Dada, already partially carried out in the Board of Directors meetings which took place on February 3, 2006 and July 28, 2006.
The subscription share price was agreed upon at Euro 16.99 per share by the Board of Directors, in accordance with the criteria laid out in the shareholders meeting. This price is equal to the average official registered Dada share price in the month prior to the share options being issued.
The Board have created conditions, within the limits of the rules, for exercising options and subscribing to shares should the consolidated EBITDA reach 90% for the reporting period of 2008 as determined by the Board, the exercise of the options can take place between January 15 and January 31, from February 16 to February 28, from June 1 to June 15, from September 15 to September 30 (extending to October 15 for just the year of 2012) and, finally from November 15 to November 30 for every year until November 11, 2012 and from the date of the approval of the consolidated finanical reports for the Dada Group for the period closing December 31, 2008. The approved rule specifically clarifies the way, the conditions and timing of issuing the options, the future of the subscription rights not yet exercised or not excercisable at the termination of the relationship between the benefactors and the companies of the Group, the possibility to re-price the options, the early subscription of options in the case of events impacting the shareholder structure of the Company. There were no provisions made to provide financial support by the Company nor any other type of support for share subscription resulting from excercising options or availability restrictions for the subscribed shares.
