Montabaur, August 25, 2010. Sedo Holding AG today announced its consolidated figures for the 1st half-year 2010. Business progressed in line with the company’s expectations.
As expected, consolidated sales of Sedo Holding AG fell from EUR 72.7 million last year to EUR 56.6 million in the first six months of 2010. The main reason for the fall in sales is the changed contractual relationship with a major Affiliate Marketing customer as of the fourth quarter of 2009. Adjusted for sales revenues generated with this one major customer, sales increased by EUR 1.6 million (+3%). Due to a change in the sales mix, however, there was an increase in gross margin from 19.3% in the 1st half-year 2009 to 24.5% in the 1st half-year 2010. Earnings before taxes (EBT) remained stable at EUR 2.8 million. Earnings per share (EPS) improved slightly from EUR 0.05 in the same prior-year period to EUR 0.06.
The equity capital of Sedo Holding AG increased from EUR 91.3 million as of December 31, 2009 to EUR 93.7 million on June 30, 2010. The equity ratio rose from 74.2% to 77.4%.
Based on current market conditions and the development of business so far, the Management Board continues to expect a year-on-year decline in sales for 2010 with a stable development of pre-tax earnings.
The first half-year 2010 report will be published on August 26, 2010.