InternetQ (LON:INTQ) has made a solid start to 2015, as the global shift to mobile connectivity shows no sign of abating.
The provider of mobile marketing and digital entertainment solutions for mobile network operators and brands saw revenues and earnings surge in 2014, while cash flow was positive.
Revenue was up 27% to €132,4mln from €104.4mln the year before, with business-to-business (B2B) revenue up 18% to €103.9mln and business-to-consumer (B2C) revenue up 71% to €28.5mln.
Adjusted underlying earnings (EBITDA) climbed 37% to €22.3mln from €16.2mln the year before.
Cash and cash equivalents at the end of the year stood at €21.3mln, up from €13.2mln a year earlier.
The group essentially has two main divisions: mobile marketing, largely through its Minimob platform, and music streaming, via its Akazoo platform.
The group said the mobile marketing business enjoyed strong momentum in 2014, gaining popularity in key geographies, while more advertising networks became integrated into the Minimob platform.
On the digital entertainment side, where the group is going up against the likes of Spotify and Pandora, brand awareness increased as a result of major contracts with major network operators.
The group has a robust pipeline for 2015, particularly in Latin America, and will continue to benefit from the ongoing adoption of smart devices and the shift to mobile advertising, declared Panagiotis Dimitropoulos, founder and chief executive officer of InternetQ.
"We have made a solid start to 2015. With the strong foundations that we have secured, our demonstrabledigital expertise and the significant future growth opportunities available to the company, the board is confident of continuing to deliver strong growth in the coming year and beyond," Dimitropoulos added.
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